Goldman Sachs 2013 Annual Report Download - page 172
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Notes to Consolidated Financial Statements
Nonconsolidated VIEs
As of December 2013
in millions
Mortgage-
backed
Corporate
CDOs and
CLOs
Real estate,
credit-related
and other
investing
Other
asset-
backed
Power-
related
Investment
funds Total
Assets in VIE $86,562 2$19,761 $8,599 $4,401 $593 $2,332 $122,248
Carrying Value of the Firm’s Variable Interests
Assets 5,269 1,063 2,756 284 116 49 9,537
Liabilities — 3 2 40 — — 45
Maximum Exposure to Loss in Nonconsolidated VIEs
Retained interests 3,641 80 — 6 — — 3,727
Purchased interests 1,627 659 — 142 — — 2,428
Commitments and guarantees 1— — 485 — 278 3 766
Derivatives 1586 4,809 — 2,115 — — 7,510
Loans and investments — — 2,756 — 116 49 2,921
Total $ 5,854 2$ 5,548 $3,241 $2,263 $394 $ 52 $ 17,352
Nonconsolidated VIEs
As of December 2012
in millions
Mortgage-
backed
Corporate
CDOs and
CLOs
Real estate,
credit-related
and other
investing
Other
asset-
backed Power-
related Investment
funds Total
Assets in VIE $79,171 2$23,842 $9,244 $3,510 $147 $1,898 $117,812
Carrying Value of the Firm’s Variable Interests
Assets 6,269 1,193 1,801 220 32 4 9,519
Liabilities — 12 — 30 — — 42
Maximum Exposure to Loss in Nonconsolidated VIEs
Retained interests 4,761 51 — — — — 4,812
Purchased interests 1,162 659 — 204 — — 2,025
Commitments and guarantees 1— 1 438 — — 1 440
Derivatives 11,574 6,761 — 952 — — 9,287
Loans and investments 39 — 1,801 — 32 4 1,876
Total $ 7,536 2$ 7,472 $2,239 $1,156 $ 32 $ 5 $ 18,440
1. The aggregate amounts include $2.01 billion and $3.25 billion as of December 2013 and December 2012, respectively, related to guarantees and derivative
transactions with VIEs to which the firm transferred assets.
2. Assets in VIE and maximum exposure to loss include $4.55 billion and $900 million, respectively, as of December 2013, and $3.57 billion and $1.72 billion,
respectively, as of December 2012, related to CDOs backed by mortgage obligations.
170 Goldman Sachs 2013 Annual Report