01—Abstract
Summary
Summary of the 10-Q filed August 8, 2013. Cited figures are marked; the original filing is the authoritative source.
Goldman Sachs Group, Inc. (GS) filed its quarterly report for the period ending June 29, 2013, providing insights into its capital management and share repurchase activities.
During the second quarter of 2013, the company actively repurchased its common stock, signaling a strategy to maintain an appropriate level of common equity. The repurchase program, which has no set expiration, is influenced by the firm's capital position and market conditions, requiring Federal Reserve Board approval. This filing emphasizes the company's ongoing commitment to managing its capital structure efficiently.
Investors should note the significant volume of shares repurchased, indicating confidence from management in the company's financial health and potentially aiming to enhance shareholder value through these buybacks. The details provided offer a glimpse into the operational and financial strategies Goldman Sachs employs to navigate the market.
02—Key points
Key Highlights
- Goldman Sachs actively repurchased 10,471,505 shares of its common stock during the three months ended June 30, 2013.
- The share repurchase program is designed to maintain an appropriate level of common equity.
- Purchases during the quarter occurred at an average price ranging from $142.14 in April to $162.91 in June.
- The company's repurchase program has no fixed expiration date and is subject to Federal Reserve Board approval.
- The maximum number of shares that may yet be purchased under the program stood at 75,886,943 as of June 30, 2013.
- The filing includes certifications from the Chief Financial Officer and Principal Accounting Officer, attesting to the accuracy of the financial information presented.
- Interactive data files, including financial statements and notes, are provided pursuant to Rule 405 of Regulation S-T.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2013filed August 8, 2013Financial Statements
Q2 FY2013 against Q2 FY2012
| Line item | Q2 FY2013Q2 FY2012 | Change |
|---|---|---|
| Interest Expense | $1.84B— | — |
| Net Income | $1.93B$962.00M | +100.7% |
| EPS (Basic) | $3.92$1.83 | +114.2% |
| EPS (Diluted) | $3.70$1.78 | +107.9% |
| Shares Outstanding (Basic) | 473.20M501.50M | −5.6% |
| Shares Outstanding (Diluted) | 503.50M520.30M | −3.2% |
05—Questions
Frequently Asked Questions
What is the purpose of Goldman Sachs' share repurchase program?
The primary purpose of Goldman Sachs' share repurchase program is to maintain an appropriate level of common equity. The program allows the company to buy back its own stock in the open market, influencing its capital structure and potentially returning value to shareholders.
How much stock did Goldman Sachs buy back in the second quarter of 2013?
During the three months ended June 30, 2013, Goldman Sachs repurchased a total of 10,471,505 shares of its common stock.
Is the share repurchase program ongoing and what influences the timing and amount of purchases?
Yes, the share repurchase program has no set expiration or termination date. The amounts and timing of repurchases are primarily determined by the firm's current and projected capital position. General market conditions and the prevailing price and trading volumes of the stock can also influence these decisions.
Does Goldman Sachs require external approval for its stock buybacks?
Yes, any repurchase of Goldman Sachs' common stock requires approval from the Federal Reserve Board.
06—Continue