Goldman Sachs 2003 Annual Report Download - page 71

Download and view the complete annual report

Please find page 71 of the 2003 Goldman Sachs annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 116

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116

GOLDMAN SACHS 2003 ANNUAL REPORT 69
Consolidated Statements of Financial Condition
The accompanying notes are an integral part of these consolidated financial statements.
AS OF NOVEMBER
(IN MILLIONS, EXCEPT SHARE AND PER SHARE AMOUNTS) 2003 2002
Assets
Cash and cash equivalents $ 7,087 $ 4,822
Cash and securities segregated in compliance with U.S. federal and other regulations 29,715 20,389
Receivables from brokers, dealers and clearing organizations 9,197 5,779
Receivables from customers and counterparties 27,180 23,159
Securities borrowed 129,118 113,579
Securities purchased under agreements to resell 26,856 45,772
Financial instruments owned, at fair value 139,029 123,318
Financial instruments owned and pledged as collateral, at fair value 21,690 6,457
Total financial instruments owned, at fair value 160,719 129,775
Other assets 13,927 12,299
Total assets $403,799 $355,574
Liabilities and shareholders’ equity
Short-term borrowings, including the current portion of long-term borrowings $ 44,202 $ 40,638
Payables to brokers, dealers and clearing organizations 3,515 1,893
Payables to customers and counterparties 105,513 93,697
Securities loaned 17,528 12,238
Securities sold under agreements to repurchase 43,084 59,919
Financial instruments sold, but not yet purchased, at fair value 102,699 83,473
Other liabilities and accrued expenses 8,144 6,002
Long-term borrowings 57,482 38,711
Total liabilities 382,167 336,571
Commitments, contingencies and guarantees
Shareholders’ equity
Preferred stock, par value $0.01 per share; 150,000,000 shares authorized, no shares
issued and outstanding ——
Common stock, par value $0.01 per share; 4,000,000,000 shares authorized,
527,371,946 and 515,084,810 shares issued as of November 2003 and
November 2002, respectively, and 473,014,926 and 472,940,724 shares
outstanding as of November 2003 and November 2002, respectively 55
Restricted stock units and employee stock options 2,984 3,517
Nonvoting common stock, par value $0.01 per share; 200,000,000 shares authorized,
no shares issued and outstanding ——
Additional paid-in capital 13,562 12,750
Retained earnings 9,914 7,259
Unearned compensation (339) (845)
Accumulated other comprehensive income/(loss) 6(122)
Treasury stock, at cost, par value $0.01 per share; 54,357,020 and 42,144,086 shares
as of November 2003 and November 2002, respectively (4,500) (3,561)
Total shareholders’ equity 21,632 19,003
Total liabilities and shareholders’ equity $403,799 $355,574