Attached files
| file | filename |
|---|---|
| EX-32.1 - EX-32.1 - GOLDMAN SACHS GROUP INC | d369549dex321.htm |
| EX-31.1 - EX-31.1 - GOLDMAN SACHS GROUP INC | d369549dex311.htm |
| EX-15.1 - EX-15.1 - GOLDMAN SACHS GROUP INC | d369549dex151.htm |
| 10-Q - FORM 10-Q - GOLDMAN SACHS GROUP INC | d369549d10q.htm |
EXHIBIT 12.1
THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND RATIOS OF EARNINGS
TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
| Three Months Ended March |
Year Ended December | |||||||||||||||||||||||||
| $ in millions | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
| Net earnings |
$2,255 | $ 7,398 | $ 6,083 | $ 8,477 | $ 8,040 | $ 7,475 | ||||||||||||||||||||
| Add: |
||||||||||||||||||||||||||
| Provision for taxes |
284 | 2,906 | 2,695 | 3,880 | 3,697 | 3,732 | ||||||||||||||||||||
| Portion of rents representative of an interest factor |
23 | 81 | 83 | 103 | 108 | 125 | ||||||||||||||||||||
| Interest expense on all indebtedness |
2,230 | 7,104 | 5,388 | 5,557 | 6,668 | 7,501 | ||||||||||||||||||||
| Pre-tax earnings, as adjusted |
$4,792 | $17,489 | $14,249 | $18,017 | $18,513 | $18,833 | ||||||||||||||||||||
|
Fixed charges1: |
||||||||||||||||||||||||||
| Portion of rents representative of an interest factor |
$ 23 | $ 81 | $ 83 | $ 103 | $ 108 | $ 125 | ||||||||||||||||||||
| Interest expense on all indebtedness |
2,239 | 7,127 | 5,403 | 5,569 | 6,672 | 7,509 | ||||||||||||||||||||
| Total fixed charges |
$2,262 | $ 7,208 | $ 5,486 | $ 5,672 | $ 6,780 | $ 7,634 | ||||||||||||||||||||
|
Preferred stock dividend requirements |
105 | 804 | 743 | 583 | 458 | 274 | ||||||||||||||||||||
| Total combined fixed charges and preferred stock dividends |
$2,367 | $ 8,012 | $ 6,229 | $ 6,255 | $ 7,238 | $ 7,908 | ||||||||||||||||||||
|
Ratio of earnings to fixed charges |
2.12x | 2.43x | 2.60x | 3.18x | 2.73x | 2.47x | ||||||||||||||||||||
|
Ratio of earnings to combined fixed charges and preferred stock dividends |
2.02x | 2.18x | 2.29x | 2.88x | 2.56x | 2.38x | ||||||||||||||||||||
| 1. | Fixed charges include capitalized interest of $9 million for the three months ended March 2017, $23 million for 2016, $15 million for 2015, $12 million for 2014, $4 million for 2013 and $8 million for 2012. |