01—Abstract
Summary
Summary of the 10-Q filed May 9, 2014. Cited figures are marked; the original filing is the authoritative source.
This 10-Q filing for Goldman Sachs Group, Inc. (GS) for the quarter ended March 31, 2014, primarily details the company's share repurchase activities.
During the first quarter of 2014, GS repurchased a total of 10,493,644 shares of its common stock. The repurchase program, which has no set expiration date, is utilized to maintain an appropriate level of common equity and is influenced by capital position, market conditions, and stock prices, requiring Federal Reserve Board approval.
The filing also lists various exhibits, including updated charter documents, financial computation statements, and detailed interactive financial data files. Investors should note that while specific financial performance metrics like revenue or net income are not the focus of this particular excerpt, the share repurchase activity indicates management's confidence in the company's financial health and its strategy to return capital to shareholders.
02—Key points
Key Highlights
- Goldman Sachs repurchased a total of 10,493,644 shares of common stock in Q1 2014.
- The company's share repurchase program is ongoing with no set expiration date.
- Repurchase amounts and timing are influenced by capital position, market conditions, and stock price.
- Share repurchases require approval from the Federal Reserve Board.
- The filing lists key exhibits, including updated corporate documents and comprehensive interactive financial data files.
- The repurchase program is aimed at maintaining an appropriate level of common equity.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2014filed May 9, 2014Financial Statements
Q1 FY2014 against Q1 FY2013
| Line item | Q1 FY2014Q1 FY2013 | Change |
|---|---|---|
| Interest Expense | $1.56B$1.68B | −7.5% |
| Net Income | $2.03B$2.26B | −10.0% |
| EPS (Basic) | $4.15$4.53 | −8.4% |
| EPS (Diluted) | $4.02$4.29 | −6.3% |
| Shares Outstanding (Basic) | 468.60M482.10M | −2.8% |
| Shares Outstanding (Diluted) | 484.60M509.80M | −4.9% |
05—Questions
Frequently Asked Questions
What was Goldman Sachs' primary share repurchase activity in the first quarter of 2014?
In the first quarter of 2014 (January 1 to March 31), Goldman Sachs repurchased a total of 10,493,644 shares of its common stock.
Does Goldman Sachs have a set end date for its share repurchase program?
No, the share repurchase program has no set expiration or termination date. It is an ongoing program.
What factors influence the timing and amount of Goldman Sachs' share repurchases?
The amounts and timing of share repurchases are primarily determined by the firm's current and projected capital position. However, general market conditions and the prevailing price and trading volumes of its common stock can also influence these decisions.
What regulatory approval is needed for Goldman Sachs to repurchase its common stock?
Any repurchase of Goldman Sachs' common stock requires approval from the Federal Reserve Board.
06—Continue