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Goldman Sachs Reports Earnings Per Common Share Of $14.13 For 2012

Capital

As of December 31, 2012, total capital was $243.02 billion, consisting of $75.72 billion in total shareholders’ equity (common shareholders’ equity of $69.52 billion and preferred stock of $6.20 billion) and $167.30 billion in unsecured long-term borrowings. Book value per common share was $144.67, an increase of approximately 11% compared with the end of 2011 and approximately 3% compared with the end of the third quarter of 2012. Tangible book value per common share  (3) was $134.06, an increase of approximately 12% compared with the end of 2011 and approximately 3% compared with the end of the third 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 480.5 million as of December 31, 2012.

On October 24, 2012, The Goldman Sachs Group, Inc. (Group Inc.) issued 34,000 shares of perpetual 5.95% Non-Cumulative Preferred Stock, Series I (Series I Preferred Stock), for aggregate proceeds of $850 million.

During the year, the firm repurchased 42.0 million shares of its common stock at an average cost per share of $110.31, for a total cost of $4.64 billion, including 12.7 million shares during the fourth quarter at an average cost per share of $120.11, for a total cost of $1.53 billion. The remaining share authorization under the firm’s existing repurchase program is 21.5 million shares.  (12)

Under the regulatory capital requirements currently applicable to bank holding companies (Basel 1), the firm’s Tier 1 capital ratio  (6) was 16.7%  (5) and the firm’s Tier 1 common ratio  (7) was 14.5%  (5) as of December 31, 2012, up from 15.0% and 13.1%, respectively, compared with September 30, 2012.

Other Balance Sheet and Liquidity Metrics

  • The firm’s global core excess liquidity (GCE)  (4) was $175 billion  (5) as of December 31, 2012 and averaged $173 billion  (5) for the fourth quarter of 2012, compared with an average of $175 billion for the third quarter of 2012. GCE averaged $172 billion  (5) for 2012, compared with an average of $166 billion for 2011.
  • Total assets were $939 billion  (5) as of December 31, 2012, compared with $949 billion as of September 30, 2012 and $923 billion as of December 31, 2011.
  • Level 3 assets were $47 billion  (5) as of December 31, 2012, compared with $48 billion for both September 30, 2012 and December 31, 2011, and represented 5.0% of total assets.

Dividends

Group, Inc. declared a dividend of $0.50 per common share to be paid on March 28, 2013 to common shareholders of record on February 28, 2013. The firm also declared dividends of $234.38, $387.50, $250.00, $250.00 and $437.99 per share of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series I Preferred Stock, respectively (represented by depositary shares, each representing a 1/1,000th interest in a share of preferred stock), to be paid on February 11, 2013 to preferred shareholders of record on January 27, 2013. In addition, the firm declared dividends of $977.78 per each share of Series E Preferred Stock and Series F Preferred Stock, to be paid on March 1, 2013 to preferred shareholders of record on February 14, 2013.

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