Goldman Sachs 2002 Annual Report Download - page 93

Download and view the complete annual report

Please find page 93 of the 2002 Goldman Sachs annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 105

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105

90 G O L D M A N SA CH S 2002 AN N UA L R EPO RT
Quarterly Results (unaudited)
The following represents the firm’s unaudited quarterly results for 2002 and 2001. These quarterly results were prepared
in accordance with U.S. generally accepted accounting principles and reflect all adjustments that are, in the opinion of the
management, necessary for a fair presentation of the results. These adjustments are of a normal recurring nature.
2002 FISCAL QUARTER
(IN MILLIONS, EXCEPT PER SHARE DATA) FIRST SECOND THIRD FOURTH
Total revenues $5,700 $6,234 $5,872 $5,048
Interest expense 2,102 2,383 2,223 2,160
Revenues, net of interest expense 3,598 3,851 3,649 2,888
Operating expenses 2,759 2,950 2,855 2,169
Pre-tax earnings 839 901 794 719
Provision for taxes 315 338 272 214
Net earnings $ 524 $ 563 $ 522 $ 505
Earnings per share
Basic $ 1.05 $ 1.13 $ 1.05 $ 1.03
Diluted 0.98 1.06 1.00 0.98
Dividends declared per common share 0.12 0.12 0.12 0.12
2001 FISCAL QUARTER
(IN MILLIONS, EXCEPT PER SHARE DATA) FIRST SECOND THIRD FOURTH
Total revenues $9,502 $8,158 $7,360 $6,118
Interest expense 4,769 4,168 3,699 2,691
Revenues, net of interest expense 4,733 3,990 3,661 3,427
Operating expenses 3,474 3,044 2,894 2,703
Pre-tax earnings 1,259 946 767 724
Provision for taxes 491 369 299 227
Net earnings $ 768 $ 577 $ 468 $ 497
Earnings per share
Basic $ 1.49 $ 1.12 $ 0.92 $ 0.99
Diluted 1.40 1.06 0.87 0.93
Dividends declared per share 0.12 0.12 0.12 0.12
Supplem ental Financial Inform ation