Goldman Sachs 2015 Annual Report Download - page 56

THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES
Item 1B. Unresolved Staff Comments
There are no material unresolved written comments that
were received from the SEC staff 180 days or more before
the end of our fiscal year relating to our periodic or current
reports under the Exchange Act.
Item 2. Properties
Our principal executive offices are located at 200 West
Street, New York, New York and comprise approximately
2.1 million gross square feet. The building is located on a
parcel leased from Battery Park City Authority pursuant to
a ground lease. Under the lease, Battery Park City Authority
holds title to all improvements, including the office
building, subject to Goldman Sachs’ right of exclusive
possession and use until June 2069, the expiration date of
the lease. Under the terms of the ground lease, we made a
lump sum ground rent payment in June 2007 of
$161 million for rent through the term of the lease.
We have offices at 30 Hudson Street in Jersey City, New
Jersey, which we own and which include approximately
1.6 million gross square feet of office space.
We have additional offices and commercial space in the
United States and elsewhere in the Americas, which
together comprise approximately 2.5 million square feet of
leased and owned space.
In Europe, the Middle East and Africa, we have offices that
total approximately 1.5 million square feet of leased and
owned space. Our European headquarters is located in
London at Peterborough Court, pursuant to a lease
expiring in 2026. In total, we have offices with
approximately 1.2 million square feet in London, relating
to various properties.
In Asia (including India), Australia and New Zealand, we
have offices with approximately 1.9 million square feet.
Our headquarters in this region are in Tokyo, at the
Roppongi Hills Mori Tower, and in Hong Kong, at the
Cheung Kong Center. In Japan, we currently have offices
with approximately 219,000 square feet, the majority of
which have leases that will expire in 2018. In Hong Kong,
we currently have offices with approximately 315,000
square feet, the majority of which have leases that will
expire in 2017.
In the preceding paragraphs, square footage figures are
provided only for properties that are used in the operation
of our businesses.
See “Management’s Discussion and Analysis of Financial
Condition and Results of Operations — Off-Balance-Sheet
Arrangements and Contractual Obligations — Contractual
Obligations” in Part II, Item 7 of the 2015 Form 10-K for
information about exit costs we may incur in the future to
the extent we reduce our space capacity or commit to, or
occupy, new properties in the locations in which we operate
and, consequently, dispose of existing space that had been
held for potential growth.
Item 3. Legal Proceedings
We are involved in a number of judicial, regulatory and
arbitration proceedings concerning matters arising in
connection with the conduct of our businesses. Many of
these proceedings are in early stages, and many of these
cases seek an indeterminate amount of damages. However,
we believe, based on currently available information, that
the results of such proceedings, in the aggregate, will not
have a material adverse effect on our financial condition,
but may be material to our operating results for any
particular period, depending, in part, upon the operating
results for such period. Given the range of litigation and
investigations presently under way, our litigation expenses
can be expected to remain high. See “Management’s
Discussion and Analysis of Financial Condition and Results
of Operations — Use of Estimates” in Part II, Item 7 of the
2015 Form 10-K. See Note 27 to the consolidated financial
statements in Part II, Item 8 of the 2015 Form 10-K for
information about certain judicial, regulatory and legal
proceedings.
Item 4. Mine Safety Disclosures
Not applicable.
44 Goldman Sachs 2015 Form 10-K