Summary
Goldman Sachs Group Inc. (GS) filed its 10-Q for the period ending March 30, 2013, detailing its share repurchase activities and financial reporting exhibits. The company actively repurchased its common stock throughout the first quarter of 2013, demonstrating a commitment to managing its equity levels. The filings also indicate ongoing efforts to maintain appropriate capital positions and include comprehensive financial statements and certifications, underscoring transparency and regulatory compliance.
Financial Highlights
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Financial Statements
Beta
| Interest Expense | $1.68B |
| Net Income | $2.26B |
| EPS (Basic) | $4.53 |
| EPS (Diluted) | $4.29 |
| Shares Outstanding (Basic) | 482.10M |
| Shares Outstanding (Diluted) | 509.80M |
Key Highlights
- 1Goldman Sachs repurchased a total of 10,201,157 shares of common stock during the three months ended March 31, 2013.
- 2The average price paid for repurchased shares increased from $144.82 in January to $153.11 in March 2013.
- 3The company's share repurchase program, initiated in 2000, has been significantly expanded over the years and has no set expiration date.
- 4Repurchases are primarily driven by the firm's current and projected capital position, with influences from market conditions and stock prices.
- 5On April 15, 2013, an additional 75.0 million shares were authorized for repurchase, bringing the total potential repurchase capacity to 86.4 million shares (subject to Federal Reserve approval).
- 6The filing includes a comprehensive list of exhibits, such as the Restated Certificate of Incorporation, Warrant Amendment, and detailed interactive financial data files.
- 7The report is certified by the Chief Financial Officer, Harvey M. Schwartz, and Principal Accounting Officer, Sarah E. Smith, confirming the accuracy of the financial information presented.
Frequently Asked Questions
Goldman Sachs stated that its share repurchase program is used to help maintain the appropriate level of common equity. The amounts and timing of these repurchases are primarily determined by the firm's current and projected capital position, influenced by general market conditions and stock prices.
In the three months ended March 31, 2013, Goldman Sachs repurchased a total of 10,201,157 shares of its common stock. The average price paid across these repurchases was approximately $149.22, with monthly averages ranging from $144.82 in January to $153.11 in March.
Yes, Goldman Sachs has an ongoing share repurchase program approved by its Board of Directors, which was initially announced in 2000 and has been increased multiple times since. This program has no set expiration date. However, any repurchases require approval from the Federal Reserve Board.
On April 15, 2013, shortly after the quarter ended, the Board of Directors authorized the repurchase of an additional 75.0 million shares of common stock. This increased the total potential repurchase capacity under the program to 86.4 million shares, subject to Federal Reserve approval.