15 of 500
15. Fannie Mae
Fannie Mae
Financials: Latest Results
Rank: 15 (Previous rank: 270)
CEO: Michael J. Williams
Employees: 7,300
Address: 3900 Wisconsin Ave. N.W.
Washington, District Of Columbia  20016
Country: U.S.
Website: www.fanniemae.com

Fannie Mae made an impressive leap from the No. 270 spot last year to No. 15 this year, but the jump is mostly due to new accounting rules that the Financial Accounting Standards Board put in place in 2010. The troubled mortgage giant is, indeed, still troubled.

Since the New York Stock Exchange de-listed Fannie Mae about a year ago, the company has racked up about $86 billion in debt to U.S. taxpayers. While the federal government may want to wean Fannie Mae and its sister company Freddie Mac off of federal support, both companies have a glut of assets that are going to be difficult to sell.

Fannie Mae reported a net loss of $6.5 billion for the first quarter of 2011, compared to a net income of $73 million in the fourth quarter of 2010. The company says the loss was due to the dip in home prices, which directly affects its credit-related expenses (of which there are many).

Perhaps new leadership can help steer the company in the right direction. On June 22, Fannie Mae named Susan McFarland, previously of Capital One Financial Corp., as its new CFO -- the third person to take the position at Fannie Mae since the U.S. government bailed the company out three years ago. --S.D.

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  $ millions % change from 2009
Revenues 153,825.0 429.2
Profits -14,014.0 N.A.
Assets 3,221,972.0 --
Stockholders' equity -2,599.0 --
Profits as % of  
Revenues -9
Assets -0.4
From the July 25, 2011 issue
Gains in revenue and assets from prior year are attributable to new accounting rules that require consolidation of variable interest entities.
In September 2008, company's common stock became 79.9% owned by the U.S. government.
Editor's note: Chrysler Group was erroneously omitted from the Global 500 listing. With revenue of $41.9 billion, Chrysler ranks No.205 among all the companies in the world and 61st in the U.S. As a result, Bristol-Myers Squibb, which had ranked No.500, falls off the list. Updates may be found for the full list, rankings by country, and the list of arrivals. Fortune regrets the error.
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Rank # of Global 500 Companies
U.S. 133
Japan 68
China 61
Company 2010 Number of Employees
Wal-Mart Stores 2,100,000
China National Petroleum 1,674,541
State Grid 1,564,000
Company 2010 Profits
($ millions)
Nestlé $32,843
Gazprom $31,895
Exxon Mobil $30,460
FAQ and methodology
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