Goldman Sachs 2002 Annual Report Download - page 92

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The firm’s revenues, expenses and identifiable assets
are generally allocated based on the country of domi-
cile of the legal entity providing the service.
N otes to Consolidated Financial Statem ents
GO L D M A N SA CH S 2002 A N N UAL R EPO RT 89
The following table sets forth the total net revenues, pre-tax earnings and identifiable assets of the firm and its consol-
idated subsidiaries by geographic region allocated on the basis described above:
AS OF OR FOR YEAR ENDED NOVEMBER
(IN MILLIONS) 2002 2001 2000
Net revenues
United States $ 8,643 $ 10,181 $ 9,767
Other Americas 342 234 189
United Kingdom 2,991 3,483 4,400
Other Europe 479 473 622
Asia 1,531 1,440 1,612
Total net revenues $ 13,986 $ 15,811 $ 16,590
Pre-tax earnings
United States $ 1,973 $ 2,487 $2,845
Other Americas 170 191 104
United Kingdom 525 665 1,882
Other Europe 173 241 391
Asia 624 475 516
Other(1) (212) (363) (718)
Total pre-tax earnings $ 3,253 $ 3,696 $ 5,020
Identifiable assets
United States $389,096 $337,061 $287,938
Other Americas 7,521 5,985 7,791
United Kingdom 144,608 131,812 121,257
Other Europe 8,573 8,129 7,979
Asia 25,422 25,367 16,848
Eliminations and other(2) (219,646) (196,136) (157,403)
Total identifiable assets $355,574 $312,218 $284,410
(1) Includes the following expenses that have not been allocated to the firm’s segments: (i) amortization of employee initial public offering awards of
$212 million, $363 million and $428 million for the years ended November 2002, November 2001 and November 2000, respectively, and (ii) non-
recurring acquisition awards of $290 million related to the firm’s combination with SLK for the year ended November 2000.
(2) Reflects eliminations and certain assets that are not allocable to a particular geographic region.
Geographic Information
Due to the highly integrated nature of international
financial markets, the firm manages its businesses
based on the profitability of the enterprise as a whole.
Accordingly, management believes that profitability by
geographic region is not necessarily meaningful.