EX-13.3 9 y94357exv13w3.htm SUPPLEMENTAL FINANCIAL INFORMATION SUPPLEMENTAL FINANCIAL INFORMATION
 

EXHIBIT 13.3

Supplemental Financial Information

QUARTERLY RESULTS (UNAUDITED)

The following represents the firm’s unaudited quarterly results for fiscal 2003 and fiscal 2002. These quarterly results were prepared in accordance with U.S. generally accepted accounting principles and reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results. These adjustments are of a normal recurring nature.

                                   
      2003 FISCAL QUARTER
     
(IN MILLIONS, EXCEPT PER SHARE DATA)   FIRST   SECOND   THIRD   FOURTH
 
 
 
 
Total revenues
   $ 6,094     $ 5,985     $ 5,715     $ 5,829  
Interest expense
     1,907       2,000       1,922       1,771  
Cost of power generation
     —       —       —       11  
 
    
     
     
     
 
Revenues, net of interest expense and cost of power generation
     4,187       3,985       3,793       4,047  
Operating expenses
     3,169       2,947       2,813       2,638  
 
    
     
     
     
 
Pre-tax earnings
     1,018       1,038       980       1,409  
Provision for taxes
     356       343       303       438  
 
    
     
     
     
 
Net earnings
   $ 662     $ 695     $ 677     $ 971  
 
    
     
     
     
 
Earnings per share
                                
 
Basic
   $ 1.35     $ 1.43     $ 1.39     $ 1.98  
 
Diluted
     1.29       1.36       1.32       1.89  
Dividends declared per common share
     0.12       0.12       0.25       0.25  
 
    
     
     
     
 
                                   
      2002 FISCAL QUARTER
     
(IN MILLIONS, EXCEPT PER SHARE DATA)   FIRST   SECOND   THIRD   FOURTH
 
 
 
 
Total revenues
   $ 5,700     $ 6,234     $ 5,872     $ 5,048  
Interest expense
     2,102       2,383       2,223       2,160  
 
    
     
     
     
 
Revenues, net of interest expense
     3,598       3,851       3,649       2,888  
Operating expenses
     2,759       2,950       2,855       2,169  
 
    
     
     
     
 
Pre-tax earnings
     839       901       794       719  
Provision for taxes
     315       338       272       214  
 
    
     
     
     
 
Net earnings
   $ 524     $ 563     $ 522     $ 505  
 
    
     
     
     
 
Earnings per share
                                
 
Basic
   $ 1.05     $ 1.13     $ 1.05     $ 1.03  
 
Diluted
     0.98       1.06       1.00       0.98  
Dividends declared per common share
     0.12       0.12       0.12       0.12  
 
    
     
     
     
 

GOLDMAN SACHS 2003 ANNUAL REPORT 101

 

 

Supplemental Financial Information

COMMON STOCK PRICE RANGE

The following table sets forth, for the fiscal quarters indicated, the high and low sales prices per share of the firm’s common stock as reported by the Consolidated Tape Association.

                                                 
    SALES PRICE
   
    FISCAL 2003   FISCAL 2002   FISCAL 2001
   
 
 
    HIGH   LOW   HIGH   LOW   HIGH   LOW
   
 
 
 
 
 
First quarter
   $ 80.90     $ 63.75     $ 97.25     $ 77.52     $ 120.00     $ 77.00  
Second quarter
     81.67       61.02       92.25       74.00       105.15       77.00  
Third quarter
     91.98       81.50       81.97       65.55       98.14       75.05  
Fourth quarter
     97.39       83.64       81.00       58.57       92.75       63.27  

As of February 2, 2004, there were approximately 6,038 holders of record of the firm’s common stock.

On February 2, 2004, the last reported sales price for the firm’s common stock on the New York Stock Exchange was $99.81 per share.

102 GOLDMAN SACHS 2003 ANNUAL REPORT