Goldman Sachs 2009 Annual Report Download - page 135

Goldman Sachs 2009 Annual Report
133
Notes to Consolidated Financial Statements
Year Ended One Month Ended
December2009 November2008 November2007
December2008
(per share) (inmillions) (per share) (inmillions) (per share) (inmillions) (per share) (inmillions)
Series A $ 710.94 $ 21 $1,068.86 $ 32 $1,563.51 $ 47 $ 239.58 $ 7
Series B 1,162.50 38 1,550.00 50 1,550.00 50 387.50 12
Series C 758.34 6 1,110.18 9 1,563.51 12 255.56 2
Series D 758.34 41 1,105.18 59 1,543.06 83 255.56 14
Series G 7,500.00 375 1,083.33 54 – – 2,500.00 125
Series H 12.50 (1) 125 (1) – – – – 14.86 149
Total $606 $204 $192 $309
(1) Excludes the one-time preferred dividend of $426million related to the repurchase of the TARP Series H Preferred Stock in the second quarter of 2009, as well
as $44million of accrued dividends paid upon repurchase of the Series H Preferred Stock.
On January19, 2010, the Board declared dividends of $239.58, $387.50, $255.56 and $255.56 per share of Series A Preferred
Stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock, respectively, to be paid on February10,2010
to preferred shareholders of record on January26, 2010. In addition, the Board declared a dividend of $2,500 per share of
Series G Preferred Stock to be paid on February10, 2010 to preferred shareholders of record on January26, 2010.
Accumulated Other Comprehensive Income
The following table sets forth the  rm’s accumulated other comprehensive income/(loss) by type:
As of
December November
(inmillions)
2009 2008
Currency translation adjustment, net of tax $(132) $ (30)
Pension and postretirement liability adjustments, net of tax (317) (125)
Net unrealized gains/(losses) on available-for-sale securities, net of tax
(1)
87 (47)
Total accumulated other comprehensive loss, net of tax $(362) $(202)
(1) Consists of net unrealized gains/(losses) of $84million and $(55)million on available-for-sale securities held by the  rm’s insurance subsidiaries as of
December2009 and November2008, respectively, and net unrealized gains of $3million and $8million on available-for-sale securities held by investees
accounted for under the equity method as of December2009 and November2008, respectively.
In 2007, the Board authorized 17,500.1shares of perpetual Non-Cumulative Preferred Stock, SeriesE (SeriesE Preferred Stock),
and 5,000.1shares of perpetual Non-Cumulative Preferred Stock, SeriesF (SeriesF Preferred Stock), in connection with the APEX
issuance. See Note7 for further information on the APEX issuance. Under the stock purchase contracts, Group Inc. will issue on the
relevant stock purchase dates (on or before June1, 2013 and September1, 2013 for SeriesE and SeriesF Preferred Stock, respectively)
one share of SeriesE and SeriesF Preferred Stock to GoldmanSachs CapitalII and III, respectively, for each $100,000principal
amount of subordinated debt held by these trusts. When issued, each share of SeriesE and SeriesF Preferred Stock will have a par
value of $0.01 and a liquidation preference of $100,000 per share. Dividends on SeriesE Preferred Stock, if declared, will be payable
semi-annually at a  xed annual rate of 5.79% if the stock is issued prior to June1, 2012 and quarterly thereafter, at a rate per annum
equal to the greater of (i)three-month LIBOR plus 0.77% and (ii)4.00%. Dividends on SeriesF Preferred Stock, if declared, will be
payable quarterly at a rate per annum equal to three-month LIBOR plus 0.77% if the stock is issued prior to September1, 2012 and
quarterly thereafter, at a rate per annum equal to the greater of (i)three-month LIBOR plus 0.77% and (ii)4.00%. The preferred stock
may be redeemed at the option of the  rm on the stock purchase dates or any day thereafter, subject to regulatory approval and certain
covenant restrictions governing the  rm’s ability to redeem or purchase the preferred stock without issuing common stock or other
instruments with equity-like characteristics.
Preferred dividends declared are set forth below: