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Goldman Sachs Reports Second Quarter Earnings Per Common Share Of $1.78

Capital

As of June 30, 2012, total capital was $239.85 billion, consisting of $72.86 billion in total shareholders’ equity (common shareholders’ equity of $68.01 billion and preferred stock of $4.85 billion) and $166.99 billion in unsecured long-term borrowings. Book value per common share was $137.00 and tangible book value per common share  (3) was $126.12, both approximately 2% higher compared with the end of the first quarter of 2012. Book value and tangible book value per common share are based on common shares outstanding, including restricted stock units granted to employees with no future service requirements, of 496.4 million at period end.

On June 1, 2012, The Goldman Sachs Group, Inc. (Group Inc.) issued 17,500.1 shares of Perpetual Non-Cumulative Preferred Stock, Series E (Series E Preferred Stock), for aggregate proceeds of $1.75 billion.

During the quarter, the firm repurchased 14.3 million shares of its common stock at an average cost per share of $104.81, for a total cost of $1.50 billion. The remaining share authorization under the firm’s existing repurchase program is 46.0 million shares.  (9)

Under the regulatory capital guidelines currently applicable to bank holding companies (Basel 1), the firm’s Tier 1 capital ratio  (5) was 15.0% and the firm’s Tier 1 common ratio  (6) was 13.1% as of June 30, 2012, both up slightly compared with March 31, 2012.

Other Balance Sheet and Liquidity Metrics

  • Total assets  (10) were $949 billion as of June 30, 2012, compared with $951 billion as of March 31, 2012.
  • Level 3 assets  (10) were $47 billion as of June 30, 2012, compared with $48 billion as of March 31, 2012 and represented 4.9% of total assets.
  • The firm’s global core excess liquidity  (4) was $175 billion as of June 30, 2012 and averaged $174 billion for the second quarter of 2012, compared with an average of $167 billion for the first quarter of 2012.

Dividends

Group Inc. declared a dividend of $0.46 per common share to be paid on September 27, 2012 to common shareholders of record on August 30, 2012. The firm 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 (represented by depositary shares, each representing a 1/1,000th interest in a share of preferred stock), to be paid on August 10, 2012 to preferred shareholders of record on July 26, 2012. In addition, the firm declared a dividend of $1,055.56 per share of Series E Preferred Stock to be paid on September 4, 2012 to preferred shareholders of record on August 20, 2012.

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