Goldman Sachs 2012 Annual Report Download - page 66

Management’s Discussion and Analysis
The tables below present the reconciliation of this balance
sheet allocation to our U.S. GAAP balance sheet. In the
tables below, total assets for Institutional Client Services
and Investing & Lending represent the inventory and
related assets. These amounts differ from total assets by
business segment disclosed in Note 25 to the consolidated
financial statements because total assets disclosed in
Note 25 include allocations of our excess liquidity and cash,
secured client financing and other assets.
As of December 2012
in millions
Excess
Liquidity
and Cash 1
Secured
Client
Financing
Institutional
Client
Services
Investing &
Lending
Other
Assets
Total
Assets
Cash and cash equivalents $ 72,669 $ — $ — $ — $ — $ 72,669
Cash and securities segregated for regulatory and other
purposes — 49,671 — — — 49,671
Securities purchased under agreements to resell and federal
funds sold 28,018 84,064 28,960 292 — 141,334
Securities borrowed 41,699 47,877 47,317 — — 136,893
Receivables from brokers, dealers and clearing organizations — 4,400 14,044 36 — 18,480
Receivables from customers and counterparties — 43,430 22,229 7,215 — 72,874
Financial instruments owned, at fair value 39,075 — 318,323 49,613 — 407,011
Other assets — — — — 39,623 39,623
Total assets $181,461 $229,442 $430,873 $57,156 $39,623 $938,555
As of December 2011
in millions
Excess
Liquidity
and Cash 1
Secured
Client
Financing
Institutional
Client
Services
Investing &
Lending
Other
Assets
Total
Assets
Cash and cash equivalents $ 56,008 $ — $ — $ — $ — $ 56,008
Cash and securities segregated for regulatory and other
purposes — 64,264 — — — 64,264
Securities purchased under agreements to resell and federal
funds sold 70,220 98,445 18,671 453 — 187,789
Securities borrowed 14,919 85,990 52,432 — — 153,341
Receivables from brokers, dealers and clearing organizations — 3,252 10,612 340 — 14,204
Receivables from customers and counterparties — 31,756 25,157 3,348 — 60,261
Financial instruments owned, at fair value 38,322 — 273,640 52,244 — 364,206
Other assets — — — — 23,152 23,152
Total assets $179,469 $283,707 $380,512 $56,385 $23,152 $923,225
1. Includes unencumbered cash, U.S. government and federal agency obligations (including highly liquid U.S. federal agency mortgage-backed obligations), and
German, French, Japanese and United Kingdom government obligations.
64 Goldman Sachs 2012 Annual Report