Goldman Sachs 2013 Annual Report Download - page 173

Notes to Consolidated Financial Statements
Consolidated VIEs
The tables below present the carrying amount and
classification of assets and liabilities in consolidated VIEs,
excluding the benefit of offsetting financial instruments that
are held to mitigate the risks associated with the firm’s
variable interests. Consolidated VIEs are aggregated based
on principal business activity and their assets and liabilities
are presented net of intercompany eliminations. The
majority of the assets in principal-protected notes VIEs are
intercompany and are eliminated in consolidation.
Substantially all the assets in consolidated VIEs can only be
used to settle obligations of the VIE.
The tables below exclude VIEs in which the firm holds a
majority voting interest if (i) the VIE meets the definition of
a business and (ii) the VIE’s assets can be used for purposes
other than the settlement of its obligations.
The liabilities of real estate, credit-related and other
investing VIEs and CDOs, mortgage-backed and other
asset-backed VIEs do not have recourse to the general credit
of the firm.
Consolidated VIEs
As of December 2013
in millions
Real estate,
credit-related
and other
investing
CDOs,
mortgage-
backed and
other asset-
backed
Principal-
protected
notes Total
Assets
Cash and cash equivalents $ 183 $ — $ — $ 183
Cash and securities segregated for regulatory and other purposes 84 — 63 147
Receivables from customers and counterparties 50 — — 50
Financial instruments owned, at fair value 1,309 310 155 1,774
Other assets 921 — — 921
Total $2,547 $310 $ 218 $3,075
Liabilities
Other secured financings $ 417 $198 $ 404 $1,019
Unsecured short-term borrowings, including the current portion of unsecured
long-term borrowings — — 1,258 1,258
Unsecured long-term borrowings 57 — 193 250
Other liabilities and accrued expenses 556 — — 556
Total $1,030 $198 $1,855 $3,083
Consolidated VIEs
As of December 2012
in millions
Real estate,
credit-related
and other
investing
CDOs,
mortgage-
backed and
other asset-
backed
Principal-
protected
notes Total
Assets
Cash and cash equivalents $ 236 $107 $ — $ 343
Cash and securities segregated for regulatory and other purposes 134 — 92 226
Receivables from brokers, dealers and clearing organizations 5 — — 5
Financial instruments owned, at fair value 2,958 763 124 3,845
Other assets 1,080 — — 1,080
Total $4,413 $870 $ 216 $5,499
Liabilities
Other secured financings $ 594 $699 $ 301 $1,594
Financial instruments sold, but not yet purchased, at fair value — 107 — 107
Unsecured short-term borrowings, including the current portion of unsecured
long-term borrowings — — 1,584 1,584
Unsecured long-term borrowings 4 — 334 338
Other liabilities and accrued expenses 1,478 — — 1,478
Total $2,076 $806 $2,219 $5,101
Goldman Sachs 2013 Annual Report 171