Goldman Sachs 2013 Annual Report Download - page 218
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Supplemental Financial Information
Quarterly Results (unaudited)
The following represents the firm’s unaudited quarterly
results for 2013 and 2012. These quarterly results were
prepared in accordance with U.S. GAAP and reflect all
adjustments that are, in the opinion of management,
necessary for a fair statement of the results. These
adjustments are of a normal, recurring nature.
Three Months Ended
in millions, except per share data
December
2013
September
2013
June
2013
March
2013
Non-interest revenues $7,981 $5,882 $7,786 $ 9,165
Interest income 2,391 2,398 2,663 2,608
Interest expense 1,590 1,558 1,837 1,683
Net interest income 801 840 826 925
Net revenues, including net interest income 8,782 6,722 8,612 10,090
Operating expenses 15,230 4,555 5,967 6,717
Pre-tax earnings 3,552 2,167 2,645 3,373
Provision for taxes 1,220 650 714 1,113
Net earnings 2,332 1,517 1,931 2,260
Preferred stock dividends 84 88 70 72
Net earnings applicable to common shareholders $2,248 $1,429 $1,861 $ 2,188
Earnings per common share
Basic $ 4.80 $ 3.07 $ 3.92 $ 4.53
Diluted 4.60 2.88 3.70 4.29
Dividends declared per common share 0.55 0.50 0.50 0.50
Three Months Ended
in millions, except per share data
December
2012 September
2012 June
2012 March
2012
Non-interest revenues $8,263 $7,515 $5,537 $ 8,968
Interest income 2,864 2,629 3,055 2,833
Interest expense 1,891 1,793 1,965 1,852
Net interest income 973 836 1,090 981
Net revenues, including net interest income 9,236 8,351 6,627 9,949
Operating expenses 14,923 6,053 5,212 6,768
Pre-tax earnings 4,313 2,298 1,415 3,181
Provision for taxes 1,421 786 453 1,072
Net earnings 2,892 1,512 962 2,109
Preferred stock dividends 59 54 35 35
Net earnings applicable to common shareholders $2,833 $1,458 $ 927 $ 2,074
Earnings per common share
Basic $ 5.87 $ 2.95 $ 1.83 $ 4.05
Diluted 5.60 2.85 1.78 3.92
Dividends declared per common share 0.50 0.46 0.46 0.35
1. The timing and magnitude of changes in the firm’s discretionary compensation accruals can have a significant effect on results in a given quarter.
216 Goldman Sachs 2013 Annual Report