Goldman Sachs 2013 Annual Report Download - page 32

30 Goldman Sachs 2013 Annual Report
Financial Highlights
For the Year Ended or as of December
$ and share amounts in millions, except per share amounts 2013 2012 2011
Operating Results
Net revenues $ 34,206 $ 34,163 $ 28,811
Pre-tax earnings 11,737 11,207 6,169
Net earnings 8,040 7,475 4,442
Net earnings applicable to common shareholders 7,726 7,292 2,510
Return on average common shareholders’ equity 11.0% 10.7% 3.7%
Common Share Data
Diluted earnings per common share $ 15.46 $ 14.13 $ 4.51
Average diluted common shares outstanding 499.6 516.1 556.9
Dividends declared per common share $ 2.05 $ 1.77 $ 1.40
Book value per common share 152.48 144.67 130.31
Tangible book value per common share
1 143.11 134.06 119.72
Ending stock price 177.26 127.56 90.43
Financial Condition and Selected Ratios
Total assets $ 911,507 $ 938,555 $ 923,225
Unsecured long-term borrowings 160,965 167,305 173,545
Total shareholders’ equity 78,467 75,716 70,379
Leverage ratio
2 11.6x 12.4x 13.1x
Tier 1 common ratio
3 14.6% 14.5% 12.1%
Tier 1 capital ratio
3 16.7% 16.7% 13.8%
Selected Data
Total staff 32,900 32,400 33,300
Assets under supervision (in billions) $ 1,042 $ 965 $ 895
1. Tangible book value per common share is computed by dividing tangible common shareholders’ equity (total shareholders’ equity less preferred stock, goodwill
and identifiable intangible assets) by the number of common shares outstanding, including restricted stock units granted to employees with no future service
requirements. See “Financial Information — Management’s Discussion and Analysis — Equity Capital — Other Capital Metrics” for further information about our
tangible common shareholders’ equity and tangible book value per common share, which are both non-GAAP measures.
2. The leverage ratio equals total assets divided by total shareholders’ equity.
3. The Tier 1 common ratio and the Tier 1 capital ratio are computed using risk-weighted assets (RWAs) calculated in accordance with the Federal Reserve Board’s
risk-based capital requirements, which are based on Basel 1, and as of December 2013 also reflect the revised market risk regulatory capital requirements which
became effective on January 1, 2013. The Tier 1 common ratio and the Tier 1 capital ratio as of December 2012 and December 2011 are prior to the implementation
of the revised market risk regulatory capital requirements. The Tier 1 common ratio equals Tier 1 common capital divided by RWAs. See “Financial Information —
Management’s Discussion and Analysis — Equity Capital — Consolidated Regulatory Capital Ratios” for further information about our Tier 1 common ratio, which
is a non-GAAP measure, and our Tier 1 capital ratio.