Goldman Sachs 2007 Annual Report Download - page 81

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Management’s Discussion and Analysis
To mitigate refinancing risk, we have created internal guidelines on the principal amount of debt maturing on any one day or
during any week or year. The following table sets forth our quarterly unsecured long-term borrowings maturity profile through 2013:
Unsecured Long-Term Borrowings Maturity Profile
($ in millions)
0
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012
1Q 2013
2Q 2013
3Q 2013
4Q 2013
1,000
2,000
3,000
4,000
6,000
5,000
7,000
8,000
9,000
10,000
11,000
Fiscal Quarters
The weighted average maturity of our unsecured long-term borrowings as of November 2007 was approximately seven years.
We swap a substantial portion of our long-term borrowings into U.S. dollar obligations with short-term floating interest rates in
order to minimize our exposure to interest rates and foreign exchange movements.
For a discussion of factors that could impair our ability to access the capital markets, see “
—
Certain Risk Factors That May
Affect Our Business” above as well as “Risk Factors” in Part I, Item 1A of the Annual Report on Form 10-K.
79Goldman Sachs 2007 Annual Report