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Goldman Sachs Group Inc (GS) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Goldman Sachs Group Inc

CIK: 1831431 Ticker: GS

Exhibit 99.1

The Goldman Sachs Group, Inc.  |  200 West Street  |  New York, New York 10282

 

 

GOLDMAN SACHS REPORTS

EARNINGS PER COMMON SHARE OF $17.07 FOR 2014

 

FOURTH QUARTER EARNINGS PER COMMON SHARE WERE $4.38

  LOGO

NEW YORK, January 16, 2015 — The Goldman Sachs Group, Inc. (NYSE: GS) today reported net revenues of $34.53 billion and net earnings of $8.48 billion for the year ended December 31, 2014. Diluted earnings per common share were $17.07 compared with $15.46 for the year ended December 31, 2013. Return on average common shareholders’ equity (ROE)

 (1) was 11.2% for 2014.

Fourth quarter net revenues were $7.69 billion and net earnings were $2.17 billion. Diluted earnings per common share were $4.38 compared with $4.60 for the fourth quarter of 2013 and $4.57 for the third quarter of 2014. Annualized ROE (1) was 11.1% for the fourth quarter of 2014.

Annual Highlights

 

 

Goldman Sachs ranked first in worldwide announced and completed mergers and acquisitions for the year. During the year, the firm advised on announced transactions valued at more than $1 trillion. The firm also ranked first in worldwide equity and equity-related offerings and common stock offerings for the year. (2)

 

 

Investment Banking produced net revenues of $6.46 billion, its second highest annual performance, as net revenues in Underwriting reflected strong results in both debt and equity underwriting and net revenues in Financial Advisory were the highest since 2008.

 

 

Investment Management generated record net revenues of $6.04 billion, as assets under supervision (3) increased 13% from a year ago to a record $1.18 trillion, with net inflows in long-term assets under supervision of $74 billion (4) during 2014.

 

 

During 2014, as part of a firmwide initiative to reduce activities with lower returns, the firm reduced total assets by $55 billion to $856 billion (5) as of December 31, 2014, while improving the firm’s pre-tax margin to 35.8%.

 

 

The firm increased diluted earnings per common share by 10% to $17.07 compared with 2013 and increased book value per common share and tangible book value per common share (6) by 7% during the year to $163.01 and $153.79, respectively.

 

 

The firm maintained strong capital ratios and liquidity, while returning approximately $6.5 billion of capital to shareholders during 2014. The firm’s Common Equity Tier 1 ratio (7) was 12.2% (5) as of December 31, 2014, under the Basel III Advanced approach. In addition, the firm’s global core excess liquidity (3) was $183 billion (5) as of December 31, 2014.

 

 

“We are pleased with our performance during a year characterized by mixed global economic and financial conditions,” said Lloyd C. Blankfein, Chairman and Chief Executive Officer. “The depth of our global client franchise and our continued discipline on expenses and capital management produced a solid return for our shareholders. Looking ahead, we see evidence of a continued pick up in momentum for the global economy that will improve the opportunity set for 2015.”

 

 

Media Relations:  Jake Siewert  212-902-5400

  |     Investor Relations:  Dane E. Holmes   212-902-0300   


The following information was filed by Goldman Sachs Group Inc (GS) on Friday, January 16, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Earnings
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (parenthetical)
Basis Of Presentation
Business Segments
Business Segments (tables)
Business Segments - Depreciation And Amortization (detail)
Business Segments - Net Interest Income (detail)
Business Segments - Net Revenues And Pre-tax Earnings For Each Geographic Region (detail)
Business Segments - Segment Operating Results (detail)
Business Segments - Segment Operating Results (parenthetical) (detail)
Cash Instruments
Cash Instruments (tables)
Cash Instruments - Additional Information (detail)
Cash Instruments - Cash Instruments By Level (detail)
Cash Instruments - Cash Instruments By Level (parenthetical) (detail)
Cash Instruments - Cash Instruments, Level 3 Rollforward (detail)
Cash Instruments - Cash Instruments, Level 3 Rollforward (parenthetical) (detail)
Cash Instruments - Fair Value, Cash Instruments, Measurement Inputs, Disclosure (detail)
Cash Instruments - Investments In Funds That Are Calculated Using Net Asset Value Per Share (detail)
Collateralized Agreements And Financings
Collateralized Agreements And Financings (tables)
Collateralized Agreements And Financings - Additional Information (detail)
Collateralized Agreements And Financings - Financial Instruments Owned, At Fair Value And Other Assets Pledged As Collateral (detail)
Collateralized Agreements And Financings - Financial Instruments Received As Collateral And Repledged (detail)
Collateralized Agreements And Financings - Financial Instruments Received As Collateral And Repledged (parenthetical) (detail)
Collateralized Agreements And Financings - Offsetting Arrangements (detail)
Collateralized Agreements And Financings - Offsetting Arrangements (parenthetical) (detail)
Collateralized Agreements And Financings - Other Secured Financings (detail)
Collateralized Agreements And Financings - Other Secured Financings (parenthetical) (detail)
Collateralized Agreements And Financings - Other Secured Financings By Maturity Date (detail)
Collateralized Agreements And Financings - Resale And Repurchase Agreements And Securities Borrowed And Loaned Transactions (detail)
Collateralized Agreements And Financings - Resale And Repurchase Agreements And Securities Borrowed And Loaned Transactions (parenthetical) (detail)
Commitments, Contingencies And Guarantees
Commitments, Contingencies And Guarantees (tables)
Commitments, Contingencies And Guarantees - Additional Information (detail)
Commitments, Contingencies And Guarantees - Commitments (detail)
Commitments, Contingencies And Guarantees - Guarantees (detail)
Commitments, Contingencies And Guarantees - Leases (detail)
Credit Concentrations
Credit Concentrations (tables)
Credit Concentrations - Credit Concentration, Government And Federal Agency Obligations (detail)
Credit Concentrations - Credit Concentration, Resale Agreements And Securities Borrowed (detail)
Deposits
Deposits (tables)
Deposits - Additional Information (detail)
Deposits - Deposits (detail)
Deposits - Maturities Of Time Deposits (detail)
Deposits - Maturities Of Time Deposits (parenthetical) (detail)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (tables)
Derivatives And Hedging Activities - Additional Information (detail)
Derivatives And Hedging Activities - Bifurcated Embedded Derivatives (detail)
Derivatives And Hedging Activities - Credit Derivatives (detail)
Derivatives And Hedging Activities - Derivatives With Credit-related Contingent Features (detail)
Derivatives And Hedging Activities - Exchange Traded And Otc Derivatives (detail)
Derivatives And Hedging Activities - Fair Value Of Derivatives By Level (detail)
Derivatives And Hedging Activities - Fair Value Of Derivatives On A Gross Basis (detail)
Derivatives And Hedging Activities - Fair Value Of Derivatives On A Gross Basis (parenthetical) (detail)
Derivatives And Hedging Activities - Fair Value Of Derivatives, Level 3 Rollforward (detail)
Derivatives And Hedging Activities - Fair Value Of Derivatives, Level 3 Rollforward (parenthetical) (detail)
Derivatives And Hedging Activities - Fair Value, Derivatives, Measurement Inputs, Disclosure (detail)
Derivatives And Hedging Activities - Fair Value, Derivatives, Measurement Inputs, Disclosure (parenthetical) (detail)
Derivatives And Hedging Activities - Gain (loss) From Interest Rate Hedges And Related Hedged Borrowings And Bank Deposits (detail)
Derivatives And Hedging Activities - Gains And Losses On Net Investment Hedges (detail)
Derivatives And Hedging Activities - Otc Derivatives By Product Type And Tenor (detail)
Description Of Business
Description Of Business - Additional Information (detail)
Earnings Per Common Share
Earnings Per Common Share (tables)
Earnings Per Common Share - Additional Information (detail)
Earnings Per Common Share - Earnings Per Common Share (detail)
Employee Benefit Plans
Employee Benefit Plans - Additional Information (detail)
Employee Incentive Plans
Employee Incentive Plans (tables)
Employee Incentive Plans - Additional Information (detail)
Employee Incentive Plans - Employee Service Share-based Compensation, Tax Benefit From Compensation Expense (detail)
Employee Incentive Plans - Schedule Of Restricted Stock Units, Vested And Expected To Vest (detail)
Employee Incentive Plans - Schedule Of Restricted Stock Units, Vested And Expected To Vest (parenthetical) (detail)
Employee Incentive Plans - Schedule Of Stock Options Activity (detail)
Employee Incentive Plans - Schedule Of Stock Options Outstanding By Exercise Price Range (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Financial Assets Liabilities Summary (detail)
Fair Value Measurements - Financial Assets Liabilities Summary (parenthetical) (detail)
Fair Value Measurements - Total Level 3 Financial Assets (detail)
Fair Value Option
Fair Value Option (tables)
Fair Value Option - Additional Information (detail)
Fair Value Option - Financial Assets And Financial Liabilities By Level (detail)
Fair Value Option - Gains And Losses On Other Financial Assets And Financial Liabilities At Fair Value (detail)
Fair Value Option - Gains And Losses On Other Financial Assets And Financial Liabilities At Fair Value (parenthetical) (detail)
Fair Value Option - Impact Of Credit Spreads On Borrowings (detail)
Fair Value Option - Level 3 Rollforward (detail)
Fair Value Option - Level 3 Rollforward (parenthetical) (detail)
Fair Value Option - Loans And Lending Commitments (detail)
Financial Instruments Owned, At Fair Value And Financial Instruments Sold, But Not Yet Purchased, At Fair Value
Financial Instruments Owned, At Fair Value And Financial Instruments Sold, But Not Yet Purchased, At Fair Value (tables)
Financial Instruments Owned, At Fair Value And Financial Instruments Sold, But Not Yet Purchased, At Fair Value - Financial Instruments Owned And Financial Instruments Sold, But Not Yet Purchased (detail)
Financial Instruments Owned, At Fair Value And Financial Instruments Sold, But Not Yet Purchased, At Fair Value - Financial Instruments Owned And Financial Instruments Sold, But Not Yet Purchased (parenthetical) (detail)
Financial Instruments Owned, At Fair Value And Financial Instruments Sold, But Not Yet Purchased, At Fair Value - Gains And Losses From Market Making And Other Principal Transactions (detail)
Financial Instruments Owned, At Fair Value And Financial Instruments Sold, But Not Yet Purchased, At Fair Value - Gains And Losses From Market Making And Other Principal Transactions (parenthetical) (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (detail)
Income Taxes - Earliest Tax Years Subject To Examination By Major Jurisdiction (detail)
Income Taxes - Effective Income Tax Rate Reconciliation (detail)
Income Taxes - Provision/(benefit) For Taxes (detail)
Income Taxes - Rollforward Of Unrecognized Tax Benefits (detail)
Interest Income And Interest Expense
Interest Income And Interest Expense (tables)
Interest Income And Interest Expense - Interest Income And Interest Expense (detail)
Legal Proceedings
Legal Proceedings - Additional Information (detail)
Loans Receivable
Loans Receivable (tables)
Loans Receivable - Additional Information (detail)
Loans Receivable - Summary Of Changes In Allowance For Loan Losses And Allowance For Losses On Lending Commitments (detail)
Loans Receivable - Summary Of Loans Receivable (detail)
Long-term Borrowings
Long-term Borrowings (tables)
Long-term Borrowings - Additional Information (detail)
Long-term Borrowings - Long-term Borrowings (detail)
Long-term Borrowings - Subordinated Long-term Borrowings (detail)
Long-term Borrowings - Subordinated Long-term Borrowings (parenthetical) (detail)
Long-term Borrowings - Unsecured Long-term Borrowings (detail)
Long-term Borrowings - Unsecured Long-term Borrowings (parenthetical) (detail)
Long-term Borrowings - Unsecured Long-term Borrowings After Hedging (detail)
Long-term Borrowings - Unsecured Long-term Borrowings After Hedging (parenthetical) (detail)
Long-term Borrowings - Unsecured Long-term Borrowings By Maturity Date (detail)
Long-term Borrowings - Unsecured Long-term Borrowings By Maturity Date (parenthetical) (detail)
Other Assets
Other Assets (tables)
Other Assets - Additional Information (detail)
Other Assets - Amortization Expense (detail)
Other Assets - Estimated Future Amortization For Existing Identifiable Intangible Assets Through 2019 (detail)
Other Assets - Goodwill And Intangible Assets (detail)
Other Assets - Goodwill And Intangible Assets (parenthetical) (detail)
Other Assets - Intangible Assets Disclosure (detail)
Other Assets - Other Assets (detail)
Other Assets - Other Assets (parenthetical) (detail)
Other Liabilities And Accrued Expenses
Other Liabilities And Accrued Expenses (tables)
Other Liabilities And Accrued Expenses - Other Liabilities (detail)
Parent Company
Parent Company (tables)
Parent Company - Additional Information (detail)
Parent Company - Condensed Consolidated Statements Of Cash Flows (detail)
Parent Company - Condensed Consolidated Statements Of Cash Flows (parenthetical) (detail)
Parent Company - Group Statement Of Earnings (detail)
Parent Company - Group Statement Of Financial Condition (detail)
Parent Company - Group Statement Of Financial Condition (parenthetical) (detail)
Regulation And Capital Adequacy
Regulation And Capital Adequacy (tables)
Regulation And Capital Adequacy - Additional Information (detail)
Regulation And Capital Adequacy - Capital Ratios (detail)
Regulation And Capital Adequacy - Capital Rollforward (detail)
Regulation And Capital Adequacy - Capital Rollforward (parenthetical) (detail)
Regulation And Capital Adequacy - Consolidated Regulatory Capital Ratios (detail)
Regulation And Capital Adequacy - Consolidated Regulatory Capital Ratios (parenthetical) (detail)
Regulation And Capital Adequacy - Minimum Capital Ratios (detail)
Regulation And Capital Adequacy - Minimum Capital Ratios (parenthetical) (detail)
Regulation And Capital Adequacy - Risk-weighted Assets (detail)
Regulation And Capital Adequacy - Risk-weighted Assets Rollforward (detail)
Regulation And Capital Adequacy - Risk-weighted Assets Rollforward (parenthetical) (detail)
Securitization Activities
Securitization Activities (tables)
Securitization Activities - Additional Information (detail)
Securitization Activities - Amount Of Financial Assets Securitized And Cash Flows Received On Retained Interests (detail)
Securitization Activities - Firms Continuing Involvement In Securitization Entities To Which Firm Sold Assets (detail)
Securitization Activities - Firms Continuing Involvement In Securitization Entities To Which Firm Sold Assets (parenthetical) (detail)
Securitization Activities - Weighted Average Key Economic Assumptions Used In Measuring Fair Value Of Firm's Retained Interests And Sensitivity Of This Fair Value To Immediate Adverse Changes (detail)
Securitization Activities - Weighted Average Key Economic Assumptions Used In Measuring Fair Value Of Firm's Retained Interests And Sensitivity Of This Fair Value To Immediate Adverse Changes (parenthetical) (detail)
Shareholders' Equity
Shareholders' Equity (tables)
Shareholders' Equity - Accumulated Other Comprehensive Loss, Net Of Tax (detail)
Shareholders' Equity - Additional Information (detail)
Shareholders' Equity - Summary Of Amount Of Common Stock Repurchased By The Firm (detail)
Shareholders' Equity - Summary Of Perpetual Preferred Stock Issued And Outstanding (detail)
Shareholders' Equity - Summary Of Perpetual Preferred Stock Issued And Outstanding (parenthetical) (detail)
Shareholders' Equity - Summary Of Preferred Dividends Declared On Preferred Stock Issued (detail)
Short-term Borrowings
Short-term Borrowings (tables)
Short-term Borrowings - Short-term Borrowings (detail)
Short-term Borrowings - Unsecured Short-term Borrowings (detail)
Significant Accounting Policies
Significant Accounting Policies (policies)
Significant Accounting Policies - Additional Information (detail)
Transactions With Affiliated Funds
Transactions With Affiliated Funds (tables)
Transactions With Affiliated Funds - Additional Information (detail)
Transactions With Affiliated Funds - Fees Earned From Affiliated Funds (detail)
Transactions With Affiliated Funds - Fees Receivable From Affiliated Funds And The Aggregate Carrying Value Of The Firm's Interests In These Funds (detail)
Variable Interest Entities
Variable Interest Entities (tables)
Variable Interest Entities - Consolidated Variable Interest Entities (detail)
Variable Interest Entities - Nonconsolidated Variable Interest Entities (detail)
Variable Interest Entities - Nonconsolidated Variable Interest Entities (parenthetical) (detail)
Ticker: GS
CIK: 886982
Form Type: 10-K Annual Report
Accession Number: 0001193125-15-056785
Submitted to the SEC: Fri Feb 20 2015 9:44:35 PM EST
Accepted by the SEC: Mon Feb 23 2015
Period: Wednesday, December 31, 2014
Industry: Security Brokers Dealers And Flotation Companies

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