Where can I find the detailed financial results for Goldman Sachs for the fiscal year 2002?

The 10-K filing for the fiscal year ended November 28, 2002, indicates that detailed financial statements, management's discussion and analysis, and selected financial data are incorporated by reference into the 2002 Annual Report to Shareholders. Investors should refer to that report for comprehensive financial information.

What is the company's stance on dividends and share repurchases?

Goldman Sachs declared a dividend of $0.12 per share during fiscal years 2001 and 2002. However, the declaration of future dividends is at the discretion of the Board of Directors, considering business conditions, financial results, and regulatory factors. The company also had an active share repurchase program, with 17.2 million shares authorized for repurchase as of January 31, 2003.

Does the filing indicate any issues with internal controls or financial reporting?

The filing states that an evaluation of disclosure controls and procedures was conducted under the supervision of management, including the CEO and CFO, and they concluded that these controls were effective as of a date within 90 days prior to the filing. No significant changes to internal controls were noted that could adversely affect financial reporting.

What does the parent company's condensed financial statement reveal about its performance?

The condensed statements of earnings for the parent company show a decline in net earnings for the year ended November 2002 ($2,114 million) compared to the prior two years ($2,310 million in 2001 and $3,067 million in 2000). This suggests a more challenging financial year in 2002 for the parent entity, largely due to lower equity in earnings of subsidiaries and principal investments, as well as increased interest expense relative to revenues.

GOLDMAN SACHS GROUP INC 10-K FY2002 Annual Report

Summary

This filing for Goldman Sachs Group, Inc. for the fiscal year ended November 28, 2002, is primarily an incorporation by reference to the company's 2002 Annual Report to Shareholders and its 2003 Proxy Statement. While the 10-K itself doesn't provide granular financial details directly, it confirms the company's adherence to reporting standards, including effective disclosure controls and procedures as of January 31, 2003. Investors will find that key financial data, management's discussion and analysis, and detailed financial statements are available in the referenced 2002 Annual Report, which covers the company's performance and financial condition. The filing also highlights ongoing share repurchase programs and dividend declarations, subject to board discretion and business conditions. The parent company's condensed financial statements show a significant decrease in net earnings for the year ended November 2002 compared to the previous two years, reflecting challenges within the fiscal year. The statements also detail the company's substantial intercompany receivables and payables, indicating a complex internal funding structure. Management's emphasis on fair value accounting for financial instruments and robust risk management practices, as referenced in the incorporated documents, remains critical for understanding the firm's operations and financial exposures.

Key Highlights

1The 10-K filing for fiscal year 2002 primarily incorporates by reference the company's 2002 Annual Report to Shareholders and its 2003 Proxy Statement for detailed financial and operational information.
2Goldman Sachs Group, Inc. reported effective disclosure controls and procedures as of January 31, 2003, as confirmed by senior management.
3The company maintained a share repurchase program, with 17.2 million shares authorized for repurchase as of January 31, 2003.
4Dividends of $0.12 per share were declared during fiscal years 2001 and 2002, with future declarations subject to board discretion and various business factors.
5Condensed parent company financial statements show a decline in net earnings for the year ended November 2002 compared to 2001 and 2000.
6Significant intercompany receivables and subordinated loan receivables from affiliates are noted in the parent company's statements of financial condition, indicating substantial internal financing.
7The company's registered common stock is traded on the New York Stock Exchange, with 5,530 holders of record as of January 31, 2003.

GOLDMAN SACHS GROUP INC Annual Report, Year Ended Nov 29, 2002

Summary

Key Highlights

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