Goldman Sachs 2013 Annual Report Download - page 123
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Notes to Consolidated Financial Statements
Note 4.
Financial Instruments Owned, at Fair Value
and Financial Instruments Sold, But Not
Yet Purchased, at Fair Value
Financial instruments owned, at fair value and financial
instruments sold, but not yet purchased, at fair value are
accounted for at fair value either under the fair value option
or in accordance with other U.S. GAAP. See Note 8 for
further information about the fair value option. The table
below presents the firm’s financial instruments owned, at
fair value, including those pledged as collateral, and
financial instruments sold, but not yet purchased, at
fair value.
As of December 2013 As of December 2012
in millions
Financial
Instruments
Owned
Financial
Instruments
Sold, But
Not Yet
Purchased
Financial
Instruments
Owned
Financial
Instruments
Sold, But
Not Yet
Purchased
Commercial paper, certificates of deposit, time deposits and other
money market instruments $ 8,608 $ — $ 6,057 $ —
U.S. government and federal agency obligations 71,072 20,920 93,241 15,905
Non-U.S. government and agency obligations 40,944 26,999 62,250 32,361
Mortgage and other asset-backed loans and securities:
Loans and securities backed by commercial real estate 6,596 1 9,805 —
Loans and securities backed by residential real estate 9,025 2 8,216 4
Bank loans and bridge loans 17,400 925 222,407 1,779 2
Corporate debt securities 17,412 5,253 20,981 5,761
State and municipal obligations 1,476 51 2,477 1
Other debt obligations 3,129 4 2,251 —
Equities and convertible debentures 101,024 22,583 96,454 20,406
Commodities 14,556 966 11,696 —
Derivatives 57,879 49,722 71,176 50,427
Total $339,121 $127,426 $407,011 $126,644
1. As of December 2012, includes $4.29 billion of commodities that have been transferred to third parties, which were accounted for as collateralized financings rather
than sales. No such transactions related to commodities included in “Financial instruments owned, at fair value” were outstanding as of December 2013.
2. Primarily relates to the fair value of unfunded lending commitments for which the fair value option was elected.
Goldman Sachs 2013 Annual Report 121