GOLDMAN SACHS GROUP INC

For the period ended Dec 31, 2023. Filed Feb 23, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 23, 2024

GS$910.19+0.4%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

	Year Ended December
$ in millions	2023	2022	2021
Cash flows from operating activities
Net earnings	$8,516	$11,261	$21,635
Adjustments to reconcile net earnings to net cash provided by/(used for) operating activities
Depreciation and amortization	4,856	2,455	2,015
Deferred income taxes	(1,360)	(2,412)	5
Share-based compensation	2,085	4,083	2,348
Provision for credit losses	1,028	2,715	357
Changes in operating assets and liabilities:
Customer and other receivables and payables, net	(28,219)	35,014	21,971
Collateralized transactions (excluding other secured financings), net	160,227	(100,996)	(70,058)
Trading assets	(163,807)	45,278	15,232
Trading liabilities	5,751	8,062	26,616
Loans held for sale, net	1,635	3,161	(5,556)
Other, net	(3,299)	87	(8,267)
Net cash provided by/(used for) operating activities	(12,587)	8,708	6,298
Cash flows from investing activities
Purchase of property, leasehold improvements and equipment	(2,316)	(3,748)	(4,667)
Proceeds from sales of property, leasehold improvements and equipment	3,278	2,706	3,933
Net cash received from/(used for) business dispositions or acquisitions	487	(2,115)	–
Purchase of investments	(40,256)	(60,536)	(39,912)
Proceeds from sales and paydowns of investments	26,848	12,961	45,701
Loans (excluding loans held for sale), net	(5,353)	(25,228)	(35,520)
Net cash used for investing activities	(17,312)	(75,960)	(30,465)
Cash flows from financing activities
Unsecured short-term borrowings, net	2,050	321	2,137
Other secured financings (short-term), net	673	(2,283)	(1,320)
Proceeds from issuance of other secured financings (long-term)	3,047	1,800	4,795
Repayment of other secured financings (long-term), including the current portion	(3,570)	(3,407)	(6,590)
Proceeds from issuance of unsecured long-term borrowings	47,153	84,522	92,717
Repayment of unsecured long-term borrowings, including the current portion	(54,066)	(42,806)	(52,608)
Derivative contracts with a financing element, net	3,280	1,797	1,121
Deposits, net	39,723	28,074	103,538
Preferred stock redemption	(1,000)	–	(2,675)
Common stock repurchased	(5,796)	(3,500)	(5,200)
Settlement of share-based awards in satisfaction of withholding tax requirements	(1,345)	(1,595)	(985)
Dividends and dividend equivalents paid on common stock, preferred stock and share-based awards	(4,189)	(3,682)	(2,725)
Proceeds from issuance of preferred stock, net of issuance costs	1,496	–	2,172
Other financing, net	344	361	361
Net cash provided by financing activities	27,800	59,602	134,738
Effect of exchange rate changes on cash and cash equivalents	1,851	(11,561)	(5,377)
Net increase/(decrease) in cash and cash equivalents	(248)	(19,211)	105,194
Cash and cash equivalents, beginning balance	241,825	261,036	155,842
Cash and cash equivalents, ending balance	$241,577	$241,825	$261,036
Supplemental disclosures:
Cash payments for interest, net of capitalized interest	$60,026	$19,022	$5,521
Cash payments for income taxes, net	$2,389	$4,555	$6,195

See Notes 9, 12 and 16 for information about non-cash activities.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.