Attached files
| file | filename |
|---|---|
| EX-32.1 - EX-32.1 - GOLDMAN SACHS GROUP INC | d535211dex321.htm |
| EX-31.1 - EX-31.1 - GOLDMAN SACHS GROUP INC | d535211dex311.htm |
| EX-15.1 - EX-15.1 - GOLDMAN SACHS GROUP INC | d535211dex151.htm |
| 10-Q - FORM 10-Q - GOLDMAN SACHS GROUP INC | d535211d10q.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 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||||
| Net earnings |
$2,832 | $ 4,286 | $ 7,398 | $ 6,083 | $ 8,477 | $ 8,040 | ||||||||||||||||||||||
| Add: |
||||||||||||||||||||||||||||
| Provision for taxes |
587 | 6,846 | 2,906 | 2,695 | 3,880 | 3,697 | ||||||||||||||||||||||
| Portion of rents representative of an interest factor |
24 | 91 | 81 | 83 | 103 | 108 | ||||||||||||||||||||||
| Interest expense on all indebtedness |
3,312 | 10,181 | 7,104 | 5,388 | 5,557 | 6,668 | ||||||||||||||||||||||
| Pre-tax earnings, as adjusted |
$6,755 | $21,404 | $17,489 | $14,249 | $18,017 | $18,513 | ||||||||||||||||||||||
|
Fixed charges 1: |
||||||||||||||||||||||||||||
| Portion of rents representative of an interest factor |
$ 24 | $ 91 | $ 81 | $ 83 | $ 103 | $ 108 | ||||||||||||||||||||||
| Interest expense on all indebtedness |
3,326 | 10,229 | 7,127 | 5,403 | 5,569 | 6,672 | ||||||||||||||||||||||
| Total fixed charges |
$3,350 | $10,320 | $ 7,208 | $ 5,486 | $ 5,672 | $ 6,780 | ||||||||||||||||||||||
|
Preferred stock dividend requirements |
115 | 1,561 | 804 | 743 | 583 | 458 | ||||||||||||||||||||||
| Total combined fixed charges and preferred stock dividends |
$3,465 | $11,881 | $ 8,012 | $ 6,229 | $ 6,255 | $ 7,238 | ||||||||||||||||||||||
|
Ratio of earnings to fixed charges |
2.02x | 2.07x | 2.43x | 2.60x | 3.18x | 2.73x | ||||||||||||||||||||||
|
Ratio of earnings to combined fixed charges and preferred stock dividends |
1.95x | 1.80x | 2.18x | 2.29x | 2.88x | 2.56x | ||||||||||||||||||||||
| 1. | Fixed charges include capitalized interest of $14 million for the three months ended March 2018, $48 million for 2017, $23 million for 2016, $15 million for 2015, $12 million for 2014 and $4 million for 2013. |