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Financial Highlights
| Dollars in millions, except
per common share amounts |
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2001
|
2000
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% Change
|
| For the Year
|
| Operating net income (1) |
$5,367
|
$4,448
|
21
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| Operating earnings per diluted common
share |
5.20
|
4.29
|
21
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| Net income |
5,894
|
4,448
|
33
|
| Diluted earnings per common share |
5.72
|
4.29
|
33
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| Dividends per common share |
1.20
|
1.12
|
7
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| Mortgage purchases |
270,584
|
154,231
|
75
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| MBS issues acquired by others |
344,739
|
105,407
|
227
|
| At December
31, |
| Mortgage portfolio, net |
$705,167
|
$607,399
|
16
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| Total assets |
799,791
|
675,072
|
18
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| Stockholders' equity |
18,118
|
20,838
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(13)
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| Core capital |
25,182
|
20,827
|
21
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| Excess of core capital over minimum
capital |
1,000
|
533
|
88
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| Outstanding MBS (2) |
858,867
|
706,684
|
22
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|
Year Ended December 31,
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| Other Statistics |
2001
|
2000
|
% Change
|
| Total taxable-equivalent revenues |
$10,187
|
$7,825
|
30
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| Average net interest margin |
1.11%
|
1.01%
|
10
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| Average effective guaranty fee rate
|
.190
|
.195
|
(3)
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| Credit loss ratio |
.006
|
.007
|
(14)
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| Administrative expense ratio |
.071
|
.072
|
(1)
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| Efficiency ratio |
10.0
|
11.6
|
(14)
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| Operating return on average realized
common equity |
25.4
|
25.2
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1
|
(1) Excludes the cumulative after-tax gain of $168 million from the
change in accounting principle upon adoption of FAS 133 on January 1, 2001
and the after-tax loss of $24 million recognized during the year 2001 for
the change in fair value of time value of purchased options under FAS 133.
Includes after-tax charges of $383 million for the amortization expense
of purchased options premiums during the year ended December 31, 2001.
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(2) MBS held by investors other than Fannie Mae. |
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