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GE granted various employee benefits to its group employees, including those of the Company, under the GE Long-Term Incentive Plan. These benefits primarily included stock options and RSUs. Compensation expense allocated to the Company was $ 67 million for the year ended December 31, 2022, and was primarily recognized within SG&A in the Combined Statement of Income. | text | 67 | monetaryItemType | text: <entity> 67 </entity> <entity type> monetaryItemType </entity type> <context> GE granted various employee benefits to its group employees, including those of the Company, under the GE Long-Term Incentive Plan. These benefits primarily included stock options and RSUs. Compensation expense allocated to the Company was $ 67 million for the year ended December 31, 2022, and was primarily recognized within SG&A in the Combined Statement of Income. </context> | us-gaap:RelatedPartyTransactionAmountsOfTransaction |
– governs all matters relating to the provision of shared services between the Company and GE on a transitional basis. The services the Company receives include support for information technology, human resources, supply chain, finance, and facilities services, among others. Some of these costs were included in the allocations from GE prior to Spin-Off. The services generally commenced on the date of the Spin-Off and terminated in the 24 months following the Distribution Date depending upon the related transitional service. We incurred $ 172 million, n | text | 172 | monetaryItemType | text: <entity> 172 </entity> <entity type> monetaryItemType </entity type> <context> – governs all matters relating to the provision of shared services between the Company and GE on a transitional basis. The services the Company receives include support for information technology, human resources, supply chain, finance, and facilities services, among others. Some of these costs were included in the allocations from GE prior to Spin-Off. The services generally commenced on the date of the Spin-Off and terminated in the 24 months following the Distribution Date depending upon the related transitional service. We incurred $ 172 million, n </context> | us-gaap:RelatedPartyTransactionAmountsOfTransaction |
et, and $ 372 million, net, for the years ended December 31, 2024 and 2023, respectively, under this agreement. These amounts represent fees charged from GE and GE Vernova to the Company, the majority of which are related to information technology, and are net of fees charged from the Company to GE and GE Vernova for facilities and other shared services. | text | 372 | monetaryItemType | text: <entity> 372 </entity> <entity type> monetaryItemType </entity type> <context> et, and $ 372 million, net, for the years ended December 31, 2024 and 2023, respectively, under this agreement. These amounts represent fees charged from GE and GE Vernova to the Company, the majority of which are related to information technology, and are net of fees charged from the Company to GE and GE Vernova for facilities and other shared services. </context> | us-gaap:RelatedPartyTransactionAmountsOfTransaction |
On February 3, 2025, we repaid $ 250 million of the outstanding Term Loan Facility. | text | 250 | monetaryItemType | text: <entity> 250 </entity> <entity type> monetaryItemType </entity type> <context> On February 3, 2025, we repaid $ 250 million of the outstanding Term Loan Facility. </context> | us-gaap:RepaymentsOfLongTermDebt |
The Purchase Agreement requires Treasury, upon the request of the Conservator, to provide funds to us after any quarter in which we have a negative net worth (that is, our total liabilities exceed our total assets, as reflected on our consolidated balance sheets). In addition, the Purchase Agreement requires Treasury, upon the request of the Conservator, to provide funds to us if the Conservator determines, at any time, that it will be mandated by law to appoint a receiver for us unless we receive these funds from Treasury. In exchange for Treasury's funding commitment, we issued to Treasury, as an aggregate initial commitment fee, one million shares of Variable Liquidation Preference Senior Preferred Stock with an initial liquidation preference of $ 1 billion, which we refer to as the senior preferred stock, and a warrant to purchase, for a nominal price, shares of our common stock equal to 79.9 % of the total number of shares of our common stock outstanding on a fully diluted basis at the time the warrant is exercised, which we refer to as the warrant. We received no cash proceeds or other consideration from Treasury for issuing the senior preferred stock or the warrant. The amount of any draw will be added to the aggregate liquidation preference of the senior preferred stock. Deficits in our net worth have made it necessary for us to make substantial draws on Treasury's funding commitment under the Purchase Agreement. Pursuant to the December 2017 Letter Agreement, the liquidation preference of the senior preferred stock increased by $ 3.0 billion on December 31, 2017. Pursuant to the September 2019 Letter Agreement and January 2021 Letter Agreement, increases in the Net Worth Amount, if any, during the immediately prior fiscal quarter have been, or will be, added to the liquidation preference of the senior preferred stock at the | text | one million | sharesItemType | text: <entity> one million </entity> <entity type> sharesItemType </entity type> <context> The Purchase Agreement requires Treasury, upon the request of the Conservator, to provide funds to us after any quarter in which we have a negative net worth (that is, our total liabilities exceed our total assets, as reflected on our consolidated balance sheets). In addition, the Purchase Agreement requires Treasury, upon the request of the Conservator, to provide funds to us if the Conservator determines, at any time, that it will be mandated by law to appoint a receiver for us unless we receive these funds from Treasury. In exchange for Treasury's funding commitment, we issued to Treasury, as an aggregate initial commitment fee, one million shares of Variable Liquidation Preference Senior Preferred Stock with an initial liquidation preference of $ 1 billion, which we refer to as the senior preferred stock, and a warrant to purchase, for a nominal price, shares of our common stock equal to 79.9 % of the total number of shares of our common stock outstanding on a fully diluted basis at the time the warrant is exercised, which we refer to as the warrant. We received no cash proceeds or other consideration from Treasury for issuing the senior preferred stock or the warrant. The amount of any draw will be added to the aggregate liquidation preference of the senior preferred stock. Deficits in our net worth have made it necessary for us to make substantial draws on Treasury's funding commitment under the Purchase Agreement. Pursuant to the December 2017 Letter Agreement, the liquidation preference of the senior preferred stock increased by $ 3.0 billion on December 31, 2017. Pursuant to the September 2019 Letter Agreement and January 2021 Letter Agreement, increases in the Net Worth Amount, if any, during the immediately prior fiscal quarter have been, or will be, added to the liquidation preference of the senior preferred stock at the </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
Treasury, as the holder of the senior preferred stock, is entitled to receive quarterly cash dividends, when, as, and if declared by our Board of Directors. The dividends we have paid to Treasury on the senior preferred stock have been declared by, and paid at the direction of, the Conservator, acting as successor to the rights, titles, powers, and privileges of the Board of Directors. Through December 31, 2012, the senior preferred stock accrued quarterly cumulative dividends at a rate of 10 % per year. Under the August 2012 amendment to the Purchase Agreement, the fixed dividend rate was replaced with a net worth sweep dividend beginning in the first quarter of 2013. | text | 10 | percentItemType | text: <entity> 10 </entity> <entity type> percentItemType </entity type> <context> Treasury, as the holder of the senior preferred stock, is entitled to receive quarterly cash dividends, when, as, and if declared by our Board of Directors. The dividends we have paid to Treasury on the senior preferred stock have been declared by, and paid at the direction of, the Conservator, acting as successor to the rights, titles, powers, and privileges of the Board of Directors. Through December 31, 2012, the senior preferred stock accrued quarterly cumulative dividends at a rate of 10 % per year. Under the August 2012 amendment to the Purchase Agreement, the fixed dividend rate was replaced with a net worth sweep dividend beginning in the first quarter of 2013. </context> | us-gaap:PreferredStockDividendRatePercentage |
In October 2013, FHFA announced the formation of CSS. CSS is a limited liability company equally-owned by Freddie Mac and Fannie Mae, and CSS is also deemed a related party. In connection with the formation of CSS, we and Fannie Mae signed governance and operating agreements for CSS, including an updated customer services agreement with Fannie Mae and CSS. We have also entered into an agreement with Fannie Mae regarding the commingling of certain of our mortgage securities and related indemnification obligations. During the year ended December 31, 2024, we contributed $ 68 million of capital to CSS, and we have contributed $ 938 million since the fourth quarter of 2014. The carrying value of our investment in CSS was ($ 5 ) million and ($ 1 ) million as of December 31, 2024 and December 31, 2023. respectively. | text | 68 | monetaryItemType | text: <entity> 68 </entity> <entity type> monetaryItemType </entity type> <context> In October 2013, FHFA announced the formation of CSS. CSS is a limited liability company equally-owned by Freddie Mac and Fannie Mae, and CSS is also deemed a related party. In connection with the formation of CSS, we and Fannie Mae signed governance and operating agreements for CSS, including an updated customer services agreement with Fannie Mae and CSS. We have also entered into an agreement with Fannie Mae regarding the commingling of certain of our mortgage securities and related indemnification obligations. During the year ended December 31, 2024, we contributed $ 68 million of capital to CSS, and we have contributed $ 938 million since the fourth quarter of 2014. The carrying value of our investment in CSS was ($ 5 ) million and ($ 1 ) million as of December 31, 2024 and December 31, 2023. respectively. </context> | us-gaap:PaymentsToAcquireEquityMethodInvestments |
In October 2013, FHFA announced the formation of CSS. CSS is a limited liability company equally-owned by Freddie Mac and Fannie Mae, and CSS is also deemed a related party. In connection with the formation of CSS, we and Fannie Mae signed governance and operating agreements for CSS, including an updated customer services agreement with Fannie Mae and CSS. We have also entered into an agreement with Fannie Mae regarding the commingling of certain of our mortgage securities and related indemnification obligations. During the year ended December 31, 2024, we contributed $ 68 million of capital to CSS, and we have contributed $ 938 million since the fourth quarter of 2014. The carrying value of our investment in CSS was ($ 5 ) million and ($ 1 ) million as of December 31, 2024 and December 31, 2023. respectively. | text | 938 | monetaryItemType | text: <entity> 938 </entity> <entity type> monetaryItemType </entity type> <context> In October 2013, FHFA announced the formation of CSS. CSS is a limited liability company equally-owned by Freddie Mac and Fannie Mae, and CSS is also deemed a related party. In connection with the formation of CSS, we and Fannie Mae signed governance and operating agreements for CSS, including an updated customer services agreement with Fannie Mae and CSS. We have also entered into an agreement with Fannie Mae regarding the commingling of certain of our mortgage securities and related indemnification obligations. During the year ended December 31, 2024, we contributed $ 68 million of capital to CSS, and we have contributed $ 938 million since the fourth quarter of 2014. The carrying value of our investment in CSS was ($ 5 ) million and ($ 1 ) million as of December 31, 2024 and December 31, 2023. respectively. </context> | us-gaap:PaymentsToAcquireEquityMethodInvestments |
In October 2013, FHFA announced the formation of CSS. CSS is a limited liability company equally-owned by Freddie Mac and Fannie Mae, and CSS is also deemed a related party. In connection with the formation of CSS, we and Fannie Mae signed governance and operating agreements for CSS, including an updated customer services agreement with Fannie Mae and CSS. We have also entered into an agreement with Fannie Mae regarding the commingling of certain of our mortgage securities and related indemnification obligations. During the year ended December 31, 2024, we contributed $ 68 million of capital to CSS, and we have contributed $ 938 million since the fourth quarter of 2014. The carrying value of our investment in CSS was ($ 5 ) million and ($ 1 ) million as of December 31, 2024 and December 31, 2023. respectively. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> In October 2013, FHFA announced the formation of CSS. CSS is a limited liability company equally-owned by Freddie Mac and Fannie Mae, and CSS is also deemed a related party. In connection with the formation of CSS, we and Fannie Mae signed governance and operating agreements for CSS, including an updated customer services agreement with Fannie Mae and CSS. We have also entered into an agreement with Fannie Mae regarding the commingling of certain of our mortgage securities and related indemnification obligations. During the year ended December 31, 2024, we contributed $ 68 million of capital to CSS, and we have contributed $ 938 million since the fourth quarter of 2014. The carrying value of our investment in CSS was ($ 5 ) million and ($ 1 ) million as of December 31, 2024 and December 31, 2023. respectively. </context> | us-gaap:EquityMethodInvestments |
In October 2013, FHFA announced the formation of CSS. CSS is a limited liability company equally-owned by Freddie Mac and Fannie Mae, and CSS is also deemed a related party. In connection with the formation of CSS, we and Fannie Mae signed governance and operating agreements for CSS, including an updated customer services agreement with Fannie Mae and CSS. We have also entered into an agreement with Fannie Mae regarding the commingling of certain of our mortgage securities and related indemnification obligations. During the year ended December 31, 2024, we contributed $ 68 million of capital to CSS, and we have contributed $ 938 million since the fourth quarter of 2014. The carrying value of our investment in CSS was ($ 5 ) million and ($ 1 ) million as of December 31, 2024 and December 31, 2023. respectively. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> In October 2013, FHFA announced the formation of CSS. CSS is a limited liability company equally-owned by Freddie Mac and Fannie Mae, and CSS is also deemed a related party. In connection with the formation of CSS, we and Fannie Mae signed governance and operating agreements for CSS, including an updated customer services agreement with Fannie Mae and CSS. We have also entered into an agreement with Fannie Mae regarding the commingling of certain of our mortgage securities and related indemnification obligations. During the year ended December 31, 2024, we contributed $ 68 million of capital to CSS, and we have contributed $ 938 million since the fourth quarter of 2014. The carrying value of our investment in CSS was ($ 5 ) million and ($ 1 ) million as of December 31, 2024 and December 31, 2023. respectively. </context> | us-gaap:EquityMethodInvestments |
have elected to account for these investments using the proportional amortization method when applicable. The carrying amount of our investments in LIHTC partnerships is presented in other assets on our consolidated balance sheets and totaled $ 4.3 billion as of December 31, 2024, and $ 3.5 billion as of December 31, 2023. | text | 4.3 | monetaryItemType | text: <entity> 4.3 </entity> <entity type> monetaryItemType </entity type> <context> have elected to account for these investments using the proportional amortization method when applicable. The carrying amount of our investments in LIHTC partnerships is presented in other assets on our consolidated balance sheets and totaled $ 4.3 billion as of December 31, 2024, and $ 3.5 billion as of December 31, 2023. </context> | us-gaap:AmortizationMethodQualifiedAffordableHousingProjectInvestments |
have elected to account for these investments using the proportional amortization method when applicable. The carrying amount of our investments in LIHTC partnerships is presented in other assets on our consolidated balance sheets and totaled $ 4.3 billion as of December 31, 2024, and $ 3.5 billion as of December 31, 2023. | text | 3.5 | monetaryItemType | text: <entity> 3.5 </entity> <entity type> monetaryItemType </entity type> <context> have elected to account for these investments using the proportional amortization method when applicable. The carrying amount of our investments in LIHTC partnerships is presented in other assets on our consolidated balance sheets and totaled $ 4.3 billion as of December 31, 2024, and $ 3.5 billion as of December 31, 2023. </context> | us-gaap:AmortizationMethodQualifiedAffordableHousingProjectInvestments |
Includes ($ 0.7 ) billion and ($ 0.2 ) billion of basis adjustments maintained on a closed portfolio basis related to existing portfolio layer method fair value hedge relationships as of December 31, 2024 and December 31, 2023, respectively. | text | 0.7 | monetaryItemType | text: <entity> 0.7 </entity> <entity type> monetaryItemType </entity type> <context> Includes ($ 0.7 ) billion and ($ 0.2 ) billion of basis adjustments maintained on a closed portfolio basis related to existing portfolio layer method fair value hedge relationships as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:HedgedAssetFairValueHedgeLastOfLayerCumulativeIncreaseDecrease |
Includes ($ 0.7 ) billion and ($ 0.2 ) billion of basis adjustments maintained on a closed portfolio basis related to existing portfolio layer method fair value hedge relationships as of December 31, 2024 and December 31, 2023, respectively. | text | 0.2 | monetaryItemType | text: <entity> 0.2 </entity> <entity type> monetaryItemType </entity type> <context> Includes ($ 0.7 ) billion and ($ 0.2 ) billion of basis adjustments maintained on a closed portfolio basis related to existing portfolio layer method fair value hedge relationships as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:HedgedAssetFairValueHedgeLastOfLayerCumulativeIncreaseDecrease |
Includes $ 2.4 billion and $ 1.8 billion of multifamily held-for-investment loans for which we have elected the fair value option as of December 31, 2024 and December 31, 2023, respectively. | text | 2.4 | monetaryItemType | text: <entity> 2.4 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.4 billion and $ 1.8 billion of multifamily held-for-investment loans for which we have elected the fair value option as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
Includes $ 2.4 billion and $ 1.8 billion of multifamily held-for-investment loans for which we have elected the fair value option as of December 31, 2024 and December 31, 2023, respectively. | text | 1.8 | monetaryItemType | text: <entity> 1.8 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.4 billion and $ 1.8 billion of multifamily held-for-investment loans for which we have elected the fair value option as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
Includes $ 2.6 billion and $ 2.0 billion of single-family loans that were in the process of foreclosure as of December 31, 2024 and December 31, 2023, respectively. | text | 2.6 | monetaryItemType | text: <entity> 2.6 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.6 billion and $ 2.0 billion of single-family loans that were in the process of foreclosure as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:MortgageLoansInProcessOfForeclosureAmount |
Includes $ 2.6 billion and $ 2.0 billion of single-family loans that were in the process of foreclosure as of December 31, 2024 and December 31, 2023, respectively. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.6 billion and $ 2.0 billion of single-family loans that were in the process of foreclosure as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:MortgageLoansInProcessOfForeclosureAmount |
The fair value of our available-for-sale securities held at December 31, 2024 scheduled to contractually mature after ten years was $ 1.3 billion, with an additional $ 1.4 billion scheduled to contractually mature after five years through ten years. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our available-for-sale securities held at December 31, 2024 scheduled to contractually mature after ten years was $ 1.3 billion, with an additional $ 1.4 billion scheduled to contractually mature after five years through ten years. </context> | us-gaap:AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenFairValue |
The fair value of our available-for-sale securities held at December 31, 2024 scheduled to contractually mature after ten years was $ 1.3 billion, with an additional $ 1.4 billion scheduled to contractually mature after five years through ten years. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our available-for-sale securities held at December 31, 2024 scheduled to contractually mature after ten years was $ 1.3 billion, with an additional $ 1.4 billion scheduled to contractually mature after five years through ten years. </context> | us-gaap:AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue |
At December 31, 2024, the gross unrealized losses relate to 146 securities. | text | 146 | integerItemType | text: <entity> 146 </entity> <entity type> integerItemType </entity type> <context> At December 31, 2024, the gross unrealized losses relate to 146 securities. </context> | us-gaap:DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions |
Includes $ 2.0 billion and $ 2.1 billion at December 31, 2024 and December 31, 2023, respectively, of debt of consolidated trusts that represents the fair value of debt for which the fair value option was elected. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.0 billion and $ 2.1 billion at December 31, 2024 and December 31, 2023, respectively, of debt of consolidated trusts that represents the fair value of debt for which the fair value option was elected. </context> | us-gaap:DebtInstrumentFairValue |
Includes $ 2.0 billion and $ 2.1 billion at December 31, 2024 and December 31, 2023, respectively, of debt of consolidated trusts that represents the fair value of debt for which the fair value option was elected. | text | 2.1 | monetaryItemType | text: <entity> 2.1 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 2.0 billion and $ 2.1 billion at December 31, 2024 and December 31, 2023, respectively, of debt of consolidated trusts that represents the fair value of debt for which the fair value option was elected. </context> | us-gaap:DebtInstrumentFairValue |
The effective interest rate for debt of consolidated trusts was 3.01 % and 2.73 % as of December 31, 2024 and December 31, 2023, respectively. | text | 3.01 | percentItemType | text: <entity> 3.01 </entity> <entity type> percentItemType </entity type> <context> The effective interest rate for debt of consolidated trusts was 3.01 % and 2.73 % as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:DebtWeightedAverageInterestRate |
The effective interest rate for debt of consolidated trusts was 3.01 % and 2.73 % as of December 31, 2024 and December 31, 2023, respectively. | text | 2.73 | percentItemType | text: <entity> 2.73 </entity> <entity type> percentItemType </entity type> <context> The effective interest rate for debt of consolidated trusts was 3.01 % and 2.73 % as of December 31, 2024 and December 31, 2023, respectively. </context> | us-gaap:DebtWeightedAverageInterestRate |
Represents par value, net of associated discounts or premiums and issuance costs. Includes $ 0.3 billion and $ 0.4 billion at December 31, 2024 and December 31, 2023, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. Includes hedge-related basis adjustments. | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> Represents par value, net of associated discounts or premiums and issuance costs. Includes $ 0.3 billion and $ 0.4 billion at December 31, 2024 and December 31, 2023, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. Includes hedge-related basis adjustments. </context> | us-gaap:DebtInstrumentFairValue |
Represents par value, net of associated discounts or premiums and issuance costs. Includes $ 0.3 billion and $ 0.4 billion at December 31, 2024 and December 31, 2023, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. Includes hedge-related basis adjustments. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Represents par value, net of associated discounts or premiums and issuance costs. Includes $ 0.3 billion and $ 0.4 billion at December 31, 2024 and December 31, 2023, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. Includes hedge-related basis adjustments. </context> | us-gaap:DebtInstrumentFairValue |
$ 6.8 billion and $ 6.4 billion at December 31, 2024 and December 31, 2023, respectively, and a fair value of $ 1.0 million at both December 31, 2024 and December 31, 2023. | text | 6.8 | monetaryItemType | text: <entity> 6.8 </entity> <entity type> monetaryItemType </entity type> <context> $ 6.8 billion and $ 6.4 billion at December 31, 2024 and December 31, 2023, respectively, and a fair value of $ 1.0 million at both December 31, 2024 and December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
$ 6.8 billion and $ 6.4 billion at December 31, 2024 and December 31, 2023, respectively, and a fair value of $ 1.0 million at both December 31, 2024 and December 31, 2023. | text | 6.4 | monetaryItemType | text: <entity> 6.4 </entity> <entity type> monetaryItemType </entity type> <context> $ 6.8 billion and $ 6.4 billion at December 31, 2024 and December 31, 2023, respectively, and a fair value of $ 1.0 million at both December 31, 2024 and December 31, 2023. </context> | us-gaap:DerivativeNotionalAmount |
, we issued one million shares of senior preferred stock to Treasury on September 8, 2008, in partial consideration of Treasury's commitment to provide funds to us. | text | one million | sharesItemType | text: <entity> one million </entity> <entity type> sharesItemType </entity type> <context> , we issued one million shares of senior preferred stock to Treasury on September 8, 2008, in partial consideration of Treasury's commitment to provide funds to us. </context> | us-gaap:StockIssuedDuringPeriodSharesNewIssues |
Shares of the senior preferred stock have a par value of $ 1 and have a stated value and initial liquidation preference of $ 1 billion, or $ 1,000 per share. The liquidation preference of the senior preferred stock is subject to adjustment. See | text | 1 | perShareItemType | text: <entity> 1 </entity> <entity type> perShareItemType </entity type> <context> Shares of the senior preferred stock have a par value of $ 1 and have a stated value and initial liquidation preference of $ 1 billion, or $ 1,000 per share. The liquidation preference of the senior preferred stock is subject to adjustment. See </context> | us-gaap:PreferredStockParOrStatedValuePerShare |
Shares of the senior preferred stock have a par value of $ 1 and have a stated value and initial liquidation preference of $ 1 billion, or $ 1,000 per share. The liquidation preference of the senior preferred stock is subject to adjustment. See | text | 1000 | perShareItemType | text: <entity> 1000 </entity> <entity type> perShareItemType </entity type> <context> Shares of the senior preferred stock have a par value of $ 1 and have a stated value and initial liquidation preference of $ 1 billion, or $ 1,000 per share. The liquidation preference of the senior preferred stock is subject to adjustment. See </context> | us-gaap:PreferredStockLiquidationPreference |
The warrant may be exercised in whole or in part at any time on or before September 7, 2028, by delivery to us of a notice of exercise, payment of the exercise price of $ 0.00001 per share, and the warrant. If the market price of one share of our common stock is greater than the exercise price, then, instead of paying the exercise price, Treasury may elect to receive shares equal to the value of the warrant (or portion thereof being canceled) pursuant to the formula specified in the warrant. Upon exercise of the warrant, Treasury may assign the right to receive the shares of common stock issuable upon exercise to any other person. | text | 0.00001 | perShareItemType | text: <entity> 0.00001 </entity> <entity type> perShareItemType </entity type> <context> The warrant may be exercised in whole or in part at any time on or before September 7, 2028, by delivery to us of a notice of exercise, payment of the exercise price of $ 0.00001 per share, and the warrant. If the market price of one share of our common stock is greater than the exercise price, then, instead of paying the exercise price, Treasury may elect to receive shares equal to the value of the warrant (or portion thereof being canceled) pursuant to the formula specified in the warrant. Upon exercise of the warrant, Treasury may assign the right to receive the shares of common stock issuable upon exercise to any other person. </context> | us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 |
We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $ 2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $ 0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings per share. The weighted average shares of common stock for the years ended December 31, 2024, 2023, and 2022 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury. | text | 2.3 | monetaryItemType | text: <entity> 2.3 </entity> <entity type> monetaryItemType </entity type> <context> We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $ 2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $ 0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings per share. The weighted average shares of common stock for the years ended December 31, 2024, 2023, and 2022 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury. </context> | us-gaap:WarrantsAndRightsOutstanding |
We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $ 2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $ 0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings per share. The weighted average shares of common stock for the years ended December 31, 2024, 2023, and 2022 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury. | text | 0.00001 | perShareItemType | text: <entity> 0.00001 </entity> <entity type> perShareItemType </entity type> <context> We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $ 2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $ 0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings per share. The weighted average shares of common stock for the years ended December 31, 2024, 2023, and 2022 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury. </context> | us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 |
Dividend rate resets quarterly and is equal to the sum of spread-adjusted three-month CME Term SOFR plus 0.50 % but not less than 4.00 % | text | 4.00 | percentItemType | text: <entity> 4.00 </entity> <entity type> percentItemType </entity type> <context> Dividend rate resets quarterly and is equal to the sum of spread-adjusted three-month CME Term SOFR plus 0.50 % but not less than 4.00 % </context> | us-gaap:PreferredStockDividendRatePercentage |
We did no t repurchase or issue any of our common shares or non-cumulative preferred stock during 2024 and 2023. At both December 31, 2024 and December 31, 2023, no RSUs or stock options were outstanding. There were 41,160 shares of restricted stock outstanding at both December 31, 2024 and December 31, 2023. | text | no | sharesItemType | text: <entity> no </entity> <entity type> sharesItemType </entity type> <context> We did no t repurchase or issue any of our common shares or non-cumulative preferred stock during 2024 and 2023. At both December 31, 2024 and December 31, 2023, no RSUs or stock options were outstanding. There were 41,160 shares of restricted stock outstanding at both December 31, 2024 and December 31, 2023. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber |
- Payment of dividends on our common stock is also subject to the prior payment of dividends on our 24 series of preferred stock and one series of senior preferred stock, representing an aggregate of 464,170,000 shares and 1,000,000 shares outstanding, respectively, as of December 31, 2024. Payment of dividends on all outstanding preferred stock, other than the senior preferred stock, is subject to the prior payment of dividends on the senior preferred stock. | text | 464170000 | sharesItemType | text: <entity> 464170000 </entity> <entity type> sharesItemType </entity type> <context> - Payment of dividends on our common stock is also subject to the prior payment of dividends on our 24 series of preferred stock and one series of senior preferred stock, representing an aggregate of 464,170,000 shares and 1,000,000 shares outstanding, respectively, as of December 31, 2024. Payment of dividends on all outstanding preferred stock, other than the senior preferred stock, is subject to the prior payment of dividends on the senior preferred stock. </context> | us-gaap:PreferredStockSharesOutstanding |
- Payment of dividends on our common stock is also subject to the prior payment of dividends on our 24 series of preferred stock and one series of senior preferred stock, representing an aggregate of 464,170,000 shares and 1,000,000 shares outstanding, respectively, as of December 31, 2024. Payment of dividends on all outstanding preferred stock, other than the senior preferred stock, is subject to the prior payment of dividends on the senior preferred stock. | text | 1000000 | sharesItemType | text: <entity> 1000000 </entity> <entity type> sharesItemType </entity type> <context> - Payment of dividends on our common stock is also subject to the prior payment of dividends on our 24 series of preferred stock and one series of senior preferred stock, representing an aggregate of 464,170,000 shares and 1,000,000 shares outstanding, respectively, as of December 31, 2024. Payment of dividends on all outstanding preferred stock, other than the senior preferred stock, is subject to the prior payment of dividends on the senior preferred stock. </context> | us-gaap:PreferredStockSharesOutstanding |
Based on all positive and negative evidence available at December 31, 2024, we determined that it is more likely than not that our net deferred tax assets, except for the deferred tax asset related to our capital loss carryforwards, will be realized. A valuation allowance of $ 17 million has been recorded against our capital loss carryforward deferred tax asset. | text | 17 | monetaryItemType | text: <entity> 17 </entity> <entity type> monetaryItemType </entity type> <context> Based on all positive and negative evidence available at December 31, 2024, we determined that it is more likely than not that our net deferred tax assets, except for the deferred tax asset related to our capital loss carryforwards, will be realized. A valuation allowance of $ 17 million has been recorded against our capital loss carryforward deferred tax asset. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
We recognize a tax position taken or expected to be taken (and any associated interest and penalties) if it is more likely than not that it will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. We measure the tax position at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We evaluated all income tax positions and determined that there were no uncertain tax positions that required reserves as of December 31, 2024. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> We recognize a tax position taken or expected to be taken (and any associated interest and penalties) if it is more likely than not that it will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. We measure the tax position at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We evaluated all income tax positions and determined that there were no uncertain tax positions that required reserves as of December 31, 2024. </context> | us-gaap:UnrecognizedTaxBenefits |
As shown in the table below, we have two reportable segments, Single-Family and Multifamily. | text | two | integerItemType | text: <entity> two </entity> <entity type> integerItemType </entity type> <context> As shown in the table below, we have two reportable segments, Single-Family and Multifamily. </context> | us-gaap:NumberOfReportableSegments |
We acquire a significant portion of our Single-Family loan purchase volume from several large sellers. Our top 10 sellers provided approximately 55 % of our Single-Family purchase volume, including one seller that provided 10% or more of our Single-Family purchase volume during 2024. | text | 55 | percentItemType | text: <entity> 55 </entity> <entity type> percentItemType </entity type> <context> We acquire a significant portion of our Single-Family loan purchase volume from several large sellers. Our top 10 sellers provided approximately 55 % of our Single-Family purchase volume, including one seller that provided 10% or more of our Single-Family purchase volume during 2024. </context> | us-gaap:ConcentrationRiskPercentage1 |
We purchase single-family loans from both depository and non-depository sellers. Non-depository institutions may not have the same financial strength or operational capacity, or be subject to the same level of regulatory oversight, as large depository institutions. Our top five non-depository sellers provided approximately 42 % of our Single-Family purchase volume during 2024. | text | 42 | percentItemType | text: <entity> 42 </entity> <entity type> percentItemType </entity type> <context> We purchase single-family loans from both depository and non-depository sellers. Non-depository institutions may not have the same financial strength or operational capacity, or be subject to the same level of regulatory oversight, as large depository institutions. Our top five non-depository sellers provided approximately 42 % of our Single-Family purchase volume during 2024. </context> | us-gaap:ConcentrationRiskPercentage1 |
Several large servicers hold the rights to service significant portions of our single-family loans. Our top 10 servicers held the rights to service approximately 55 % of our Single-Family mortgage portfolio, including one servicer that held servicing rights for 10% or more of our Single-Family mortgage portfolio as of December 31, 2024. Our servicers may choose to use sub-servicers to execute servicing on their behalf. | text | 55 | percentItemType | text: <entity> 55 </entity> <entity type> percentItemType </entity type> <context> Several large servicers hold the rights to service significant portions of our single-family loans. Our top 10 servicers held the rights to service approximately 55 % of our Single-Family mortgage portfolio, including one servicer that held servicing rights for 10% or more of our Single-Family mortgage portfolio as of December 31, 2024. Our servicers may choose to use sub-servicers to execute servicing on their behalf. </context> | us-gaap:ConcentrationRiskPercentage1 |
We utilize both depository and non-depository servicers for single-family loans. Some of these non-depository servicers hold the rights to service a large share of our loans. As of December 31, 2024, approximately 29 % of servicing rights for our Single-Family mortgage portfolio, excluding loans for which we do not exercise control over the associated servicing, was held by our five largest non-depository servicers, on a combined basis. We routinely monitor the performance of our largest non-depository servicers. | text | 29 | percentItemType | text: <entity> 29 </entity> <entity type> percentItemType </entity type> <context> We utilize both depository and non-depository servicers for single-family loans. Some of these non-depository servicers hold the rights to service a large share of our loans. As of December 31, 2024, approximately 29 % of servicing rights for our Single-Family mortgage portfolio, excluding loans for which we do not exercise control over the associated servicing, was held by our five largest non-depository servicers, on a combined basis. We routinely monitor the performance of our largest non-depository servicers. </context> | us-gaap:ConcentrationRiskPercentage1 |
We acquire a significant portion of our Multifamily loan purchase and guarantee volume from several large sellers. Our top 10 sellers provided approximately 70 % of our Multifamily purchase and guarantee volume, including three sellers that each provided 10% or more of our Multifamily purchase and guarantee volume during 2024. | text | 70 | percentItemType | text: <entity> 70 </entity> <entity type> percentItemType </entity type> <context> We acquire a significant portion of our Multifamily loan purchase and guarantee volume from several large sellers. Our top 10 sellers provided approximately 70 % of our Multifamily purchase and guarantee volume, including three sellers that each provided 10% or more of our Multifamily purchase and guarantee volume during 2024. </context> | us-gaap:ConcentrationRiskPercentage1 |
Significant portions of our multifamily loans are serviced by several large servicers. Our top 10 servicers serviced approximately 77 % of our Multifamily mortgage portfolio, including three servicers that each serviced 10% or more of our Multifamily mortgage portfolio as of December 31, 2024. | text | 77 | percentItemType | text: <entity> 77 </entity> <entity type> percentItemType </entity type> <context> Significant portions of our multifamily loans are serviced by several large servicers. Our top 10 servicers serviced approximately 77 % of our Multifamily mortgage portfolio, including three servicers that each serviced 10% or more of our Multifamily mortgage portfolio as of December 31, 2024. </context> | us-gaap:ConcentrationRiskPercentage1 |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 4.2 | monetaryItemType | text: <entity> 4.2 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 13.8 | monetaryItemType | text: <entity> 13.8 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 3.1 | monetaryItemType | text: <entity> 3.1 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 5.6 | monetaryItemType | text: <entity> 5.6 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. | text | 9.2 | monetaryItemType | text: <entity> 9.2 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $ 3.2 trillion, $ 4.2 billion and $ 13.8 billion as of December 31, 2024, respectively, and $ 3.1 trillion, $ 5.6 billion and $ 9.2 billion as of December 31, 2023, respectively. </context> | us-gaap:LoansReceivableFairValueDisclosure |
The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. | text | 3.3 | monetaryItemType | text: <entity> 3.3 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. </context> | us-gaap:DebtInstrumentFairValue |
The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. | text | 2.3 | monetaryItemType | text: <entity> 2.3 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. </context> | us-gaap:DebtInstrumentFairValue |
The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. </context> | us-gaap:DebtInstrumentFairValue |
The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. | text | 2.5 | monetaryItemType | text: <entity> 2.5 </entity> <entity type> monetaryItemType </entity type> <context> The GAAP carrying amounts measured at amortized cost and FV - NI were $ 3.3 trillion and $ 2.3 billion as of December 31, 2024, respectively, and $ 3.2 trillion and $ 2.5 billion as of December 31, 2023, respectively. </context> | us-gaap:DebtInstrumentFairValue |
Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. | text | 832 | monetaryItemType | text: <entity> 832 </entity> <entity type> monetaryItemType </entity type> <context> Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. </context> | us-gaap:LossContingencyDamagesSoughtValue |
Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. | text | 282 | monetaryItemType | text: <entity> 282 </entity> <entity type> monetaryItemType </entity type> <context> Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. </context> | us-gaap:LossContingencyDamagesAwardedValue |
Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. | text | 31 | monetaryItemType | text: <entity> 31 </entity> <entity type> monetaryItemType </entity type> <context> Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. </context> | us-gaap:LossContingencyDamagesAwardedValue |
Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. | text | 313 | monetaryItemType | text: <entity> 313 </entity> <entity type> monetaryItemType </entity type> <context> Court rulings limited the Plaintiffs’ damages theories to those based on the decline in Freddie Mac’s and Fannie Mae’s share value immediately after the Third Amendment. The Plaintiffs asserted losses based on the decline in value of Freddie Mac’s common and junior preferred stock from August 16 to August 17, 2012. During the trial in October and early November 2022, the Plaintiffs requested that the jury award $ 832 million plus pre-judgment interest as damages against Freddie Mac. The jury in that trial was not able to reach a unanimous verdict and on November 7, 2022 the judge declared a mistrial. The retrial started on July 24, 2023. On August 14, 2023, the jury returned a verdict against FHFA, Fannie Mae, and Freddie Mac awarding compensatory damages of $ 282 million to Freddie Mac junior preferred shareholders and $ 31 million to Freddie Mac common shareholders. The jury declined to award the Freddie Mac shareholders prejudgment interest. In 2023, we recorded a $ 313 million accrual in other expense on our condensed consolidated statements of income for the adverse judgment. On March 20, 2024, the District Court entered final judgment. On April 17, 2024, the defendants filed a motion requesting entry of judgment in their favor notwithstanding the jury verdict, which has been fully briefed. </context> | us-gaap:LossContingencyAccrualAtCarryingValue |
In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of December 31, 2024 and 2023, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $ 60 million and $ 58 million, respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of December 31, 2024 and 2023, accrued health insurance costs offsetting prepaid expenses were $ 90 million and $ 68 million, respectively. | text | 60 | monetaryItemType | text: <entity> 60 </entity> <entity type> monetaryItemType </entity type> <context> In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of December 31, 2024 and 2023, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $ 60 million and $ 58 million, respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of December 31, 2024 and 2023, accrued health insurance costs offsetting prepaid expenses were $ 90 million and $ 68 million, respectively. </context> | us-gaap:PrepaidInsurance |
In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of December 31, 2024 and 2023, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $ 60 million and $ 58 million, respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of December 31, 2024 and 2023, accrued health insurance costs offsetting prepaid expenses were $ 90 million and $ 68 million, respectively. | text | 58 | monetaryItemType | text: <entity> 58 </entity> <entity type> monetaryItemType </entity type> <context> In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of December 31, 2024 and 2023, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $ 60 million and $ 58 million, respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of December 31, 2024 and 2023, accrued health insurance costs offsetting prepaid expenses were $ 90 million and $ 68 million, respectively. </context> | us-gaap:PrepaidInsurance |
In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of December 31, 2024 and 2023, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $ 60 million and $ 58 million, respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of December 31, 2024 and 2023, accrued health insurance costs offsetting prepaid expenses were $ 90 million and $ 68 million, respectively. | text | 90 | monetaryItemType | text: <entity> 90 </entity> <entity type> monetaryItemType </entity type> <context> In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of December 31, 2024 and 2023, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $ 60 million and $ 58 million, respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of December 31, 2024 and 2023, accrued health insurance costs offsetting prepaid expenses were $ 90 million and $ 68 million, respectively. </context> | us-gaap:PrepaidInsurance |
In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of December 31, 2024 and 2023, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $ 60 million and $ 58 million, respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of December 31, 2024 and 2023, accrued health insurance costs offsetting prepaid expenses were $ 90 million and $ 68 million, respectively. | text | 68 | monetaryItemType | text: <entity> 68 </entity> <entity type> monetaryItemType </entity type> <context> In certain carrier contracts we are required to prepay our obligations for the expected claims activity for subsequent periods. These prepaid balances by agreement permit net settlement of obligations and offset the accrued health insurance costs. As of December 31, 2024 and 2023, prepayments and miscellaneous receivables offsetting accrued health insurance costs were $ 60 million and $ 58 million, respectively. When the prepaid amount is in excess of our recorded liability the net asset position is included in prepaid expenses. As of December 31, 2024 and 2023, accrued health insurance costs offsetting prepaid expenses were $ 90 million and $ 68 million, respectively. </context> | us-gaap:PrepaidInsurance |
We measure our lease liabilities based on the future minimum lease payments discounted over the lease term. We determine our discount rate at lease inception using our incremental borrowing rate, which is based on our outstanding debts that are collateralized by certain corporate assets. As of December 31, 2024 and 2023, the weighted-average rate used in discounting the lease liability was 4.9 % and 4.2 %, respectively. | text | 4.9 | percentItemType | text: <entity> 4.9 </entity> <entity type> percentItemType </entity type> <context> We measure our lease liabilities based on the future minimum lease payments discounted over the lease term. We determine our discount rate at lease inception using our incremental borrowing rate, which is based on our outstanding debts that are collateralized by certain corporate assets. As of December 31, 2024 and 2023, the weighted-average rate used in discounting the lease liability was 4.9 % and 4.2 %, respectively. </context> | us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent |
We measure our lease liabilities based on the future minimum lease payments discounted over the lease term. We determine our discount rate at lease inception using our incremental borrowing rate, which is based on our outstanding debts that are collateralized by certain corporate assets. As of December 31, 2024 and 2023, the weighted-average rate used in discounting the lease liability was 4.9 % and 4.2 %, respectively. | text | 4.2 | percentItemType | text: <entity> 4.2 </entity> <entity type> percentItemType </entity type> <context> We measure our lease liabilities based on the future minimum lease payments discounted over the lease term. We determine our discount rate at lease inception using our incremental borrowing rate, which is based on our outstanding debts that are collateralized by certain corporate assets. As of December 31, 2024 and 2023, the weighted-average rate used in discounting the lease liability was 4.9 % and 4.2 %, respectively. </context> | us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent |
Our goodwill and identifiable intangible assets with indefinite useful lives are not amortized but are tested for impairment on an annual basis or when an event occurs or circumstances change in a way to indicate that there has been a potential decline in the fair value of the reporting unit. Goodwill impairment is determined by comparing the estimated fair value of the reporting unit to its carrying amount, including goodwill. All goodwill is associated with one reporting unit within our one reportable segment. | text | one | integerItemType | text: <entity> one </entity> <entity type> integerItemType </entity type> <context> Our goodwill and identifiable intangible assets with indefinite useful lives are not amortized but are tested for impairment on an annual basis or when an event occurs or circumstances change in a way to indicate that there has been a potential decline in the fair value of the reporting unit. Goodwill impairment is determined by comparing the estimated fair value of the reporting unit to its carrying amount, including goodwill. All goodwill is associated with one reporting unit within our one reportable segment. </context> | us-gaap:NumberOfReportingUnits |
Our goodwill and identifiable intangible assets with indefinite useful lives are not amortized but are tested for impairment on an annual basis or when an event occurs or circumstances change in a way to indicate that there has been a potential decline in the fair value of the reporting unit. Goodwill impairment is determined by comparing the estimated fair value of the reporting unit to its carrying amount, including goodwill. All goodwill is associated with one reporting unit within our one reportable segment. | text | one | integerItemType | text: <entity> one </entity> <entity type> integerItemType </entity type> <context> Our goodwill and identifiable intangible assets with indefinite useful lives are not amortized but are tested for impairment on an annual basis or when an event occurs or circumstances change in a way to indicate that there has been a potential decline in the fair value of the reporting unit. Goodwill impairment is determined by comparing the estimated fair value of the reporting unit to its carrying amount, including goodwill. All goodwill is associated with one reporting unit within our one reportable segment. </context> | us-gaap:NumberOfReportableSegments |
Annually, we perform a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit has declined below its carrying value. This assessment considers various financial, macroeconomic, industry, and reporting unit specific qualitative factors. We perform our annual impairment testing in the fourth quarter. Based on the results of our reviews, we recognized an impairment loss of $ 24 million on intangible assets in the results of operation for the year ended December 31, 2024. No impairment loss was recognized in the results of operations for the years ended December 31, 2023 and 2022. | text | 24 | monetaryItemType | text: <entity> 24 </entity> <entity type> monetaryItemType </entity type> <context> Annually, we perform a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit has declined below its carrying value. This assessment considers various financial, macroeconomic, industry, and reporting unit specific qualitative factors. We perform our annual impairment testing in the fourth quarter. Based on the results of our reviews, we recognized an impairment loss of $ 24 million on intangible assets in the results of operation for the year ended December 31, 2024. No impairment loss was recognized in the results of operations for the years ended December 31, 2023 and 2022. </context> | us-gaap:ImpairmentOfIntangibleAssetsFinitelived |
We expense the costs of producing advertisements at the time production occurs, and expense the cost of running advertisements in the period in which the advertising space or airtime is used as sales and marketing expense. Advertising costs were $ 20 million, $ 37 million, and $ 29 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> We expense the costs of producing advertisements at the time production occurs, and expense the cost of running advertisements in the period in which the advertising space or airtime is used as sales and marketing expense. Advertising costs were $ 20 million, $ 37 million, and $ 29 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:AdvertisingExpense |
We expense the costs of producing advertisements at the time production occurs, and expense the cost of running advertisements in the period in which the advertising space or airtime is used as sales and marketing expense. Advertising costs were $ 20 million, $ 37 million, and $ 29 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 37 | monetaryItemType | text: <entity> 37 </entity> <entity type> monetaryItemType </entity type> <context> We expense the costs of producing advertisements at the time production occurs, and expense the cost of running advertisements in the period in which the advertising space or airtime is used as sales and marketing expense. Advertising costs were $ 20 million, $ 37 million, and $ 29 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:AdvertisingExpense |
We expense the costs of producing advertisements at the time production occurs, and expense the cost of running advertisements in the period in which the advertising space or airtime is used as sales and marketing expense. Advertising costs were $ 20 million, $ 37 million, and $ 29 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 29 | monetaryItemType | text: <entity> 29 </entity> <entity type> monetaryItemType </entity type> <context> We expense the costs of producing advertisements at the time production occurs, and expense the cost of running advertisements in the period in which the advertising space or airtime is used as sales and marketing expense. Advertising costs were $ 20 million, $ 37 million, and $ 29 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:AdvertisingExpense |
The fair value of our 2029 Notes and 2031 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the Senior Notes is considered Level 2 in the hierarchy for fair value measurement. As of December 31, 2024, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 453 million and $ 408 million, respectively. As of December 31, 2023, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 443 million and $ 414 million, respectively. | text | 453 | monetaryItemType | text: <entity> 453 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our 2029 Notes and 2031 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the Senior Notes is considered Level 2 in the hierarchy for fair value measurement. As of December 31, 2024, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 453 million and $ 408 million, respectively. As of December 31, 2023, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 443 million and $ 414 million, respectively. </context> | us-gaap:NotesPayableFairValueDisclosure |
The fair value of our 2029 Notes and 2031 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the Senior Notes is considered Level 2 in the hierarchy for fair value measurement. As of December 31, 2024, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 453 million and $ 408 million, respectively. As of December 31, 2023, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 443 million and $ 414 million, respectively. | text | 408 | monetaryItemType | text: <entity> 408 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our 2029 Notes and 2031 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the Senior Notes is considered Level 2 in the hierarchy for fair value measurement. As of December 31, 2024, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 453 million and $ 408 million, respectively. As of December 31, 2023, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 443 million and $ 414 million, respectively. </context> | us-gaap:NotesPayableFairValueDisclosure |
The fair value of our 2029 Notes and 2031 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the Senior Notes is considered Level 2 in the hierarchy for fair value measurement. As of December 31, 2024, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 453 million and $ 408 million, respectively. As of December 31, 2023, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 443 million and $ 414 million, respectively. | text | 443 | monetaryItemType | text: <entity> 443 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our 2029 Notes and 2031 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the Senior Notes is considered Level 2 in the hierarchy for fair value measurement. As of December 31, 2024, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 453 million and $ 408 million, respectively. As of December 31, 2023, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 443 million and $ 414 million, respectively. </context> | us-gaap:NotesPayableFairValueDisclosure |
The fair value of our 2029 Notes and 2031 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the Senior Notes is considered Level 2 in the hierarchy for fair value measurement. As of December 31, 2024, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 453 million and $ 408 million, respectively. As of December 31, 2023, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 443 million and $ 414 million, respectively. | text | 414 | monetaryItemType | text: <entity> 414 </entity> <entity type> monetaryItemType </entity type> <context> The fair value of our 2029 Notes and 2031 Notes was obtained from a third-party pricing service and is based on observable market inputs. As such, the fair value of the Senior Notes is considered Level 2 in the hierarchy for fair value measurement. As of December 31, 2024, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 453 million and $ 408 million, respectively. As of December 31, 2023, our 2029 Notes and 2031 Notes were carried at their cost, net of issuance costs, and had a fair value of $ 443 million and $ 414 million, respectively. </context> | us-gaap:NotesPayableFairValueDisclosure |
Depreciation of property and equipment was $ 7 million, $ 9 million, and $ 10 million for years ended December 31, 2024, 2023, and 2022, respectively. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation of property and equipment was $ 7 million, $ 9 million, and $ 10 million for years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:Depreciation |
Depreciation of property and equipment was $ 7 million, $ 9 million, and $ 10 million for years ended December 31, 2024, 2023, and 2022, respectively. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation of property and equipment was $ 7 million, $ 9 million, and $ 10 million for years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:Depreciation |
Depreciation of property and equipment was $ 7 million, $ 9 million, and $ 10 million for years ended December 31, 2024, 2023, and 2022, respectively. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation of property and equipment was $ 7 million, $ 9 million, and $ 10 million for years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:Depreciation |
, we have classified approximately $ 7 million of assets and an immaterial amount of liabilities as held for sale and compared the carrying value of those assets to their estimated fair value, which is based on their estimated selling price. This resulted in a $ 1 million goodwill impairment for 2024. | text | 1 | monetaryItemType | text: <entity> 1 </entity> <entity type> monetaryItemType </entity type> <context> , we have classified approximately $ 7 million of assets and an immaterial amount of liabilities as held for sale and compared the carrying value of those assets to their estimated fair value, which is based on their estimated selling price. This resulted in a $ 1 million goodwill impairment for 2024. </context> | us-gaap:GoodwillImpairmentLoss |
Amortization of intangible assets during the years ended December 31, 2024, 2023 and 2022 was $ 68 million, $ 63 million and $ 54 million, respectively. We evaluate the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the estimated remaining useful life. In 2024, in connection with our restructuring discussed in | text | 68 | monetaryItemType | text: <entity> 68 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of intangible assets during the years ended December 31, 2024, 2023 and 2022 was $ 68 million, $ 63 million and $ 54 million, respectively. We evaluate the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the estimated remaining useful life. In 2024, in connection with our restructuring discussed in </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization of intangible assets during the years ended December 31, 2024, 2023 and 2022 was $ 68 million, $ 63 million and $ 54 million, respectively. We evaluate the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the estimated remaining useful life. In 2024, in connection with our restructuring discussed in | text | 63 | monetaryItemType | text: <entity> 63 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of intangible assets during the years ended December 31, 2024, 2023 and 2022 was $ 68 million, $ 63 million and $ 54 million, respectively. We evaluate the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the estimated remaining useful life. In 2024, in connection with our restructuring discussed in </context> | us-gaap:AmortizationOfIntangibleAssets |
Amortization of intangible assets during the years ended December 31, 2024, 2023 and 2022 was $ 68 million, $ 63 million and $ 54 million, respectively. We evaluate the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the estimated remaining useful life. In 2024, in connection with our restructuring discussed in | text | 54 | monetaryItemType | text: <entity> 54 </entity> <entity type> monetaryItemType </entity type> <context> Amortization of intangible assets during the years ended December 31, 2024, 2023 and 2022 was $ 68 million, $ 63 million and $ 54 million, respectively. We evaluate the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the estimated remaining useful life. In 2024, in connection with our restructuring discussed in </context> | us-gaap:AmortizationOfIntangibleAssets |
, we recognized an impairment charge of $ 24 million related to customer relationships assets, which was classified in G&A in our Consolidated statement of income and comprehensive income. This impairment charge was determined using a discounted cash flows model and Level 3 fair value inputs related to the expected attrition rate of the cohort of clients acquired in previous business combinations. There were no impairment charges recognized for the years ended December 31, 2023, and 2022. | text | 24 | monetaryItemType | text: <entity> 24 </entity> <entity type> monetaryItemType </entity type> <context> , we recognized an impairment charge of $ 24 million related to customer relationships assets, which was classified in G&A in our Consolidated statement of income and comprehensive income. This impairment charge was determined using a discounted cash flows model and Level 3 fair value inputs related to the expected attrition rate of the cohort of clients acquired in previous business combinations. There were no impairment charges recognized for the years ended December 31, 2023, and 2022. </context> | us-gaap:GoodwillImpairedAccumulatedImpairmentLoss |
We recognized operating lease expense of $ 15 million, $ 11 million and $ 15 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024 and 2023, we recognized $ 5 million and $ 6 million, respectively, of lease impairment due to the closing of several offices. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> We recognized operating lease expense of $ 15 million, $ 11 million and $ 15 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024 and 2023, we recognized $ 5 million and $ 6 million, respectively, of lease impairment due to the closing of several offices. </context> | us-gaap:OperatingLeaseCost |
We recognized operating lease expense of $ 15 million, $ 11 million and $ 15 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024 and 2023, we recognized $ 5 million and $ 6 million, respectively, of lease impairment due to the closing of several offices. | text | 11 | monetaryItemType | text: <entity> 11 </entity> <entity type> monetaryItemType </entity type> <context> We recognized operating lease expense of $ 15 million, $ 11 million and $ 15 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024 and 2023, we recognized $ 5 million and $ 6 million, respectively, of lease impairment due to the closing of several offices. </context> | us-gaap:OperatingLeaseCost |
We recognized operating lease expense of $ 15 million, $ 11 million and $ 15 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024 and 2023, we recognized $ 5 million and $ 6 million, respectively, of lease impairment due to the closing of several offices. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> We recognized operating lease expense of $ 15 million, $ 11 million and $ 15 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024 and 2023, we recognized $ 5 million and $ 6 million, respectively, of lease impairment due to the closing of several offices. </context> | us-gaap:OperatingLeaseImpairmentLoss |
We recognized operating lease expense of $ 15 million, $ 11 million and $ 15 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024 and 2023, we recognized $ 5 million and $ 6 million, respectively, of lease impairment due to the closing of several offices. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> We recognized operating lease expense of $ 15 million, $ 11 million and $ 15 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024 and 2023, we recognized $ 5 million and $ 6 million, respectively, of lease impairment due to the closing of several offices. </context> | us-gaap:OperatingLeaseImpairmentLoss |
In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. | text | 495 | monetaryItemType | text: <entity> 495 </entity> <entity type> monetaryItemType </entity type> <context> In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. </context> | us-gaap:ProceedsFromLongTermLinesOfCredit |
In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. | text | 200 | monetaryItemType | text: <entity> 200 </entity> <entity type> monetaryItemType </entity type> <context> In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. </context> | us-gaap:RepaymentsOfLongTermLinesOfCredit |
In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. | text | 295 | monetaryItemType | text: <entity> 295 </entity> <entity type> monetaryItemType </entity type> <context> In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. </context> | us-gaap:RepaymentsOfLongTermLinesOfCredit |
In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. | text | 200 | monetaryItemType | text: <entity> 200 </entity> <entity type> monetaryItemType </entity type> <context> In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. </context> | us-gaap:ProceedsFromLongTermLinesOfCredit |
In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. | text | 110 | monetaryItemType | text: <entity> 110 </entity> <entity type> monetaryItemType </entity type> <context> In March 2023, as a precaution to ensure we maintained liquidity during the uncertainty of the banking crisis that followed the failure of Silicon Valley Bank, we drew down the available $ 495 million of capacity under our 2021 Revolver. As concerns about market liquidity subsided, we repaid $ 200 million in March and the remaining $ 295 million in April. In September of 2023, we drew down $ 200 million of this revolver to partially fund our third quarter of 2023 share repurchases. In 2024, we repaid $ 110 million of the outstanding balance. </context> | us-gaap:ProceedsFromLongTermLinesOfCredit |
In February 2021, we issued $ 500 million aggregate principal of 3.50 % senior unsecured notes maturing in March 2029 (our 2029 Notes). In August 2023, we issued $ 400 million aggregate principal of 7.125 % senior unsecured notes maturing in August 2031 (our 2031 Notes). Interest payments on the 2031 Notes are due semi-annually in arrears on February 15 and August 15, beginning on February 15, 2024. We used the net proceeds to fund an equity tender offer and a private share repurchase, each of which were executed in the third quarter of 2023 (including the related fees and expenses). | text | 500 | monetaryItemType | text: <entity> 500 </entity> <entity type> monetaryItemType </entity type> <context> In February 2021, we issued $ 500 million aggregate principal of 3.50 % senior unsecured notes maturing in March 2029 (our 2029 Notes). In August 2023, we issued $ 400 million aggregate principal of 7.125 % senior unsecured notes maturing in August 2031 (our 2031 Notes). Interest payments on the 2031 Notes are due semi-annually in arrears on February 15 and August 15, beginning on February 15, 2024. We used the net proceeds to fund an equity tender offer and a private share repurchase, each of which were executed in the third quarter of 2023 (including the related fees and expenses). </context> | us-gaap:DebtInstrumentFaceAmount |
In February 2021, we issued $ 500 million aggregate principal of 3.50 % senior unsecured notes maturing in March 2029 (our 2029 Notes). In August 2023, we issued $ 400 million aggregate principal of 7.125 % senior unsecured notes maturing in August 2031 (our 2031 Notes). Interest payments on the 2031 Notes are due semi-annually in arrears on February 15 and August 15, beginning on February 15, 2024. We used the net proceeds to fund an equity tender offer and a private share repurchase, each of which were executed in the third quarter of 2023 (including the related fees and expenses). | text | 3.50 | percentItemType | text: <entity> 3.50 </entity> <entity type> percentItemType </entity type> <context> In February 2021, we issued $ 500 million aggregate principal of 3.50 % senior unsecured notes maturing in March 2029 (our 2029 Notes). In August 2023, we issued $ 400 million aggregate principal of 7.125 % senior unsecured notes maturing in August 2031 (our 2031 Notes). Interest payments on the 2031 Notes are due semi-annually in arrears on February 15 and August 15, beginning on February 15, 2024. We used the net proceeds to fund an equity tender offer and a private share repurchase, each of which were executed in the third quarter of 2023 (including the related fees and expenses). </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In February 2021, we issued $ 500 million aggregate principal of 3.50 % senior unsecured notes maturing in March 2029 (our 2029 Notes). In August 2023, we issued $ 400 million aggregate principal of 7.125 % senior unsecured notes maturing in August 2031 (our 2031 Notes). Interest payments on the 2031 Notes are due semi-annually in arrears on February 15 and August 15, beginning on February 15, 2024. We used the net proceeds to fund an equity tender offer and a private share repurchase, each of which were executed in the third quarter of 2023 (including the related fees and expenses). | text | 400 | monetaryItemType | text: <entity> 400 </entity> <entity type> monetaryItemType </entity type> <context> In February 2021, we issued $ 500 million aggregate principal of 3.50 % senior unsecured notes maturing in March 2029 (our 2029 Notes). In August 2023, we issued $ 400 million aggregate principal of 7.125 % senior unsecured notes maturing in August 2031 (our 2031 Notes). Interest payments on the 2031 Notes are due semi-annually in arrears on February 15 and August 15, beginning on February 15, 2024. We used the net proceeds to fund an equity tender offer and a private share repurchase, each of which were executed in the third quarter of 2023 (including the related fees and expenses). </context> | us-gaap:DebtInstrumentFaceAmount |
In February 2021, we issued $ 500 million aggregate principal of 3.50 % senior unsecured notes maturing in March 2029 (our 2029 Notes). In August 2023, we issued $ 400 million aggregate principal of 7.125 % senior unsecured notes maturing in August 2031 (our 2031 Notes). Interest payments on the 2031 Notes are due semi-annually in arrears on February 15 and August 15, beginning on February 15, 2024. We used the net proceeds to fund an equity tender offer and a private share repurchase, each of which were executed in the third quarter of 2023 (including the related fees and expenses). | text | 7.125 | percentItemType | text: <entity> 7.125 </entity> <entity type> percentItemType </entity type> <context> In February 2021, we issued $ 500 million aggregate principal of 3.50 % senior unsecured notes maturing in March 2029 (our 2029 Notes). In August 2023, we issued $ 400 million aggregate principal of 7.125 % senior unsecured notes maturing in August 2031 (our 2031 Notes). Interest payments on the 2031 Notes are due semi-annually in arrears on February 15 and August 15, beginning on February 15, 2024. We used the net proceeds to fund an equity tender offer and a private share repurchase, each of which were executed in the third quarter of 2023 (including the related fees and expenses). </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
We may voluntarily redeem all or a part of the 2031 Notes on or after August 15, 2026, on any one or more occasions, at the redemption prices set forth in the indenture governing the 2031 Notes, plus, in each case, accrued and unpaid interest thereon, if any, to, but excluding, the applicable redemption date. In addition, at any time prior to August 15, 2026, we may on any one or more occasions redeem up to 40 % of the aggregate principal amount of the 2031 Notes outstanding under the indenture governing the 2031 Notes with the net cash proceeds of one or more equity offerings at a redemption price equal to 107.125 % of the principal amount of the 2031 Notes then outstanding, plus accrued and unpaid interest thereon, if any, to, but excluding the applicable redemption date. At any time prior to August 15, 2026, we may also redeem all or a part of the 2031 Notes at a redemption price equal to 100 % of the principal amount of the 2031 Notes redeemed plus a “make-whole” premium as of, and accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. | text | 40 | percentItemType | text: <entity> 40 </entity> <entity type> percentItemType </entity type> <context> We may voluntarily redeem all or a part of the 2031 Notes on or after August 15, 2026, on any one or more occasions, at the redemption prices set forth in the indenture governing the 2031 Notes, plus, in each case, accrued and unpaid interest thereon, if any, to, but excluding, the applicable redemption date. In addition, at any time prior to August 15, 2026, we may on any one or more occasions redeem up to 40 % of the aggregate principal amount of the 2031 Notes outstanding under the indenture governing the 2031 Notes with the net cash proceeds of one or more equity offerings at a redemption price equal to 107.125 % of the principal amount of the 2031 Notes then outstanding, plus accrued and unpaid interest thereon, if any, to, but excluding the applicable redemption date. At any time prior to August 15, 2026, we may also redeem all or a part of the 2031 Notes at a redemption price equal to 100 % of the principal amount of the 2031 Notes redeemed plus a “make-whole” premium as of, and accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. </context> | us-gaap:DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed |
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