v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest income:        
Mortgage loans $ 39,294 $ 37,693 $ 78,199 $ 75,092
Securities purchased under agreements to resell 548 924 1,178 1,796
Investments in securities and other 966 794 1,653 1,539
Total interest income 40,808 39,411 81,030 78,427
Interest expense:        
Short-term debt (254) (103) (448) (208)
Long-term debt (33,061) (32,153) (65,891) (64,063)
Total interest expense (33,315) (32,256) (66,339) (64,271)
Net interest income 7,493 7,155 14,691 14,156
Non-interest income:        
Fair value gains (losses), net (76) 211 45 334
Fee and other income 72 86 154 170
Investment gains (losses), net 53 (19) (224) (20)
Total non-interest income 49 278 (25) 484
(Provision) benefit for credit losses (485) (946) (762) (970)
Non-interest expense:        
Salaries and employee benefits (463) (492) (926) (1,103)
Professional services, technology, and occupancy (348) (355) (630) (736)
Legislative assessments (934) (939) (1,865) (1,870)
Credit enhancement expense (361) (400) (719) (879)
Other income (expense), net 38 (147) (111) (344)
Total non-interest expense (2,068) (2,333) (4,251) (4,932)
Income before federal income taxes 4,989 4,154 9,653 8,738
Provision for federal income taxes (1,007) (837) (1,951) (1,760)
Net income 3,982 3,317 7,702 6,978
Other comprehensive income (loss) (152) 7 (217) 1
Total comprehensive income 3,830 3,324 7,485 6,979
Dividends distributed or amounts attributable to senior preferred stock (3,830) (3,324) (7,485) (6,979)
Net income (loss) attributable to common stockholders, basic 152 (7) 217 (1)
Net income (loss) attributable to common stockholders, diluted $ 152 $ (7) $ 217 $ (1)
Earnings per share:        
Earnings per share, Basic (in usd per share) $ 0.03 $ 0.00 $ 0.04 $ 0.00
Earnings per share, Diluted (in usd per share) $ 0.03 $ 0.00 $ 0.04 $ 0.00
Weighted-average common shares outstanding:        
Weighted-average common shares outstanding, Basic (shares) 5,867 5,867 5,867 5,867
Weighted-average common shares outstanding, Diluted (shares) 5,893 5,867 5,893 5,867