Goldman Sachs 2009 Annual Report Download - page 87

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Goldman Sachs 2009 Annual Report
85
Consolidated Statements of Earnings
Year Ended
(inmillions, except per share amounts)
December
2009
November
2008
November
2007
Revenues
Investment banking $ 4,797 $ 5,179 $ 7,555
Trading and principal investments 28,879 8,095 29,714
Asset management and securities services 4,090 4,672 4,731
Total non-interest revenues 37,766 17,946 42,000
Interest income 13,907 35,633 45,968
Interest expense 6,500 31,357 41,981
Net interest income 7,407 4,276 3,987
Net revenues, including net interest income 45,173 22,222 45,987
Operating expenses
Compensation and bene ts 16,193 10,934 20,190
Brokerage, clearing, exchange and distribution fees 2,298 2,998 2,758
Market development 342 485 601
Communications and technology 709 759 665
Depreciation and amortization 1,734 1,262 819
Occupancy 950 960 975
Professional fees 678 779 714
Other expenses 2,440 1,709 1,661
Total non-compensation expenses 9,151 8,952 8,193
Total operating expenses 25,344 19,886 28,383
Pre-tax earnings 19,829 2,336 17,604
Provision for taxes 6,444 14 6,005
Net earnings 13,385 2,322 11,599
Preferred stock dividends 1,193 281 192
Net earnings applicable to common shareholders $12,192 $ 2,041 $11,407
Earnings per common share
Basic $ 23.74 $ 4.67 $ 26.34
Diluted 22.13 4.47 24.73
Average common shares outstanding
Basic 512.3 437.0 433.0
Diluted 550.9 456.2 461.2
The accompanying notes are an integral part of these consolidated  nancial statements.
See page 90 for consolidated  nancial statements for the one month ended December2008.