AI English summary of an SEC filing — figures as filed
Goldman Sachs GSThe company said its net earnings for 2023 were $8.52 billion, lower than the $11.26 billion in 2022, and its diluted EPS was $22.87 (2022: $30.06), with ROE at 7.5% (2022: 10.2%).
Key points
AI summaryThe company said its net earnings for 2023 were $8.52 billion, lower than the $11.26 billion in 2022, and its diluted EPS was $22.87 (2022: $30.06), with ROE at 7.5% (2022: 10.2%).
Goldman Sachs said net revenues for 2023 were $46.25 billion, 2% lower than in 2022, and operating expenses were $34.49 billion, 11% higher. It said its efficiency ratio was 74.6% (65.8% in 2022).
The company cited the following as factors behind the increase in operating expenses: impairments related to commercial real estate within CIEs of $1.46 billion, a write-down of GreenSky identifiable intangible assets of $506 million, an impairment of Consumer platforms goodwill of $504 million, and the FDIC special assessment fee of $529 million.
Goldman Sachs said it returned a total of $9.39 billion to common shareholders in 2023, consisting of $5.80 billion in common share repurchases and $3.59 billion in common stock dividends. The company also said its CET1 capital ratio as of December 2023 was 14.4% under the Standardized Capital Rules and 14.9% under the Advanced Capital Rules.
Key figures
Fiscal year ended December 31, 2023
- Revenue
- $46.3B
- Net income
- $8.5B
- EPS
- $22.87
- Operating cash flow
- −$12.6B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Net earnings, EPS and ROE for 2023
The company said its net earnings for 2023 were $8.52 billion, lower than the $11.26 billion in 2022, and its diluted EPS was $22.87 (2022: $30.06), with ROE at 7.5% (2022: 10.2%).
Source · Based on the MD&A text of the filing
Net revenues, operating expenses and efficiency ratio
Goldman Sachs said net revenues for 2023 were $46.25 billion, 2% lower than in 2022, and operating expenses were $34.49 billion, 11% higher. It said its efficiency ratio was 74.6% (65.8% in 2022).
Source · Based on the MD&A text of the filing
Explanation of factors behind higher operating expenses
The company cited the following as factors behind the increase in operating expenses: impairments related to commercial real estate within CIEs of $1.46 billion, a write-down of GreenSky identifiable intangible assets of $506 million, an impairment of Consumer platforms goodwill of $504 million, and the FDIC special assessment fee of $529 million.
Source · Based on the MD&A text of the filing
Shareholder returns and CET1 capital ratios
Goldman Sachs said it returned a total of $9.39 billion to common shareholders in 2023, consisting of $5.80 billion in common share repurchases and $3.59 billion in common stock dividends. The company also said its CET1 capital ratio as of December 2023 was 14.4% under the Standardized Capital Rules and 14.9% under the Advanced Capital Rules.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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