Goldman Sachs 2012 Annual Report Download - page 220
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Supplemental Financial Information
Quarterly Results (unaudited)
The following represents the firm’s unaudited quarterly
results for the years ended December 2012 and
December 2011. These quarterly results were prepared in
accordance with U.S. GAAP and reflect all adjustments that
are, in the opinion of management, necessary for a fair
statement of the results. These adjustments are of a normal,
recurring nature.
Three Months Ended
in millions, except per share data
December
2012
September
2012
June
2012
March
2012
Total non-interest revenues $8,263 $7,515 $5,537 $ 8,968
Interest income 2,864 2,629 3,055 2,833
Interest expense 1,891 1,793 1,965 1,852
Net interest income 973 836 1,090 981
Net revenues, including net interest income 9,236 8,351 6,627 9,949
Operating expenses 14,923 6,053 5,212 6,768
Pre-tax earnings 4,313 2,298 1,415 3,181
Provision for taxes 1,421 786 453 1,072
Net earnings 2,892 1,512 962 2,109
Preferred stock dividends 59 54 35 35
Net earnings applicable to common shareholders $2,833 $1,458 $ 927 $ 2,074
Earnings per common share
Basic $ 5.87 $ 2.95 $ 1.83 $ 4.05
Diluted 5.60 2.85 1.78 3.92
Dividends declared per common share 0.50 0.46 0.46 0.35
Three Months Ended
in millions, except per share data
December
2011
September
2011
June
2011
March
2011
Total non-interest revenues $4,984 $2,231 $5,868 $10,536
Interest income 3,032 3,354 3,681 3,107
Interest expense 1,967 1,998 2,268 1,749
Net interest income 1,065 1,356 1,413 1,358
Net revenues, including net interest income 6,049 3,587 7,281 11,894
Operating expenses 14,802 4,317 5,669 7,854
Pre-tax earnings/(loss) 1,247 (730) 1,612 4,040
Provision/(benefit) for taxes 234 (337) 525 1,305
Net earnings/(loss) 1,013 (393) 1,087 2,735
Preferred stock dividends 35 35 35 1,827
Net earnings/(loss) applicable to common shareholders $ 978 $ (428) $1,052 $ 908
Earnings/(loss) per common share
Basic $ 1.91 $ (0.84) $ 1.96 $ 1.66
Diluted 1.84 (0.84) 1.85 1.56
Dividends declared per common share 0.35 0.35 0.35 0.35
1. The timing and magnitude of changes in the firm’s discretionary compensation accruals can have a significant effect on results in a given quarter.
218 Goldman Sachs 2012 Annual Report