Goldman Sachs 2009 Annual Report Download - page 162

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Distribution of Assets, Liabilities and Shareholders’ Equity (continued)
For the Year Ended
December2009 November2008 November 2007
Average Average Average Average Average Average
(inmillions, except rates) balance Interest rate balance Interest rate balance Interest rate
Shareholders’ equity
Preferred stock 11,363 5,157 3,100
Common stock 54,164 42,010 34,859
Total shareholders’ equity 65,527 47,167 37,959
Total liabilities, preferred stock
and shareholders’ equity $912,137 $1,138,994 $997,905
Interest rate spread 0.90% 0.42% 0.22%
Net interest income and net yield on
interest-earning assets $7,407 0.95 $4,276 0.44 $3,987 0.45
U.S. 6,073 1.09 1,775 0.27 410 0.07
Non-U.S. 1,334 0.59 2,501 0.77 3,577 1.11
Percentage of interest-earning
assets and interest-bearing
liabilities attributable to
non-U.S. operations (8)
Assets 28.98% 33.33% 36.23%
Liabilities 24.07 35.03 38.75
(1) Consists of cash trading instruments, including equity securities and convertible debentures.
(2) Derivative instruments are included in other noninterest-earning assets and other noninterest-bearing liabilities.
(3) Primarily consists of cash and securities segregated for regulatory and other purposes and receivables from customers and counterparties.
(4) Consists of short-term other secured  nancings and unsecured short-term borrowings, excluding commercial paper.
(5) Interest rates include the effects of interest rate swaps accounted for as hedges.
(6) Consists of long-term other secured  nancings and unsecured long-term borrowings.
(7) Primarily consists of payables to customers and counterparties.
(8) Assets, liabilities and interest are attributed to U.S. and non-U.S. based on the location of the legal entity in which the assets and liabilities are held.
Goldman Sachs 2009 Annual Report
160
Supplemental Financial Information