Attached files
| file | filename |
|---|---|
| EX-32.1 - EX-32.1 - GOLDMAN SACHS GROUP INC | d137661dex321.htm |
| EX-3.1 - EX-3.1 - GOLDMAN SACHS GROUP INC | d137661dex31.htm |
| EX-31.1 - EX-31.1 - GOLDMAN SACHS GROUP INC | d137661dex311.htm |
| EX-15.1 - EX-15.1 - GOLDMAN SACHS GROUP INC | d137661dex151.htm |
| 10-Q - FORM 10-Q - GOLDMAN SACHS GROUP INC | d137661d10q.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 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||||
| Net earnings |
$1,135 | $ 6,083 | $ 8,477 | $ 8,040 | $ 7,475 | $ 4,442 | ||||||||||||||||||||
| Add: |
||||||||||||||||||||||||||
| Provision for taxes |
441 | 2,695 | 3,880 | 3,697 | 3,732 | 1,727 | ||||||||||||||||||||
| Portion of rents representative of an interest factor |
21 | 83 | 103 | 108 | 125 | 159 | ||||||||||||||||||||
| Interest expense on all indebtedness |
1,465 | 5,388 | 5,557 | 6,668 | 7,501 | 7,982 | ||||||||||||||||||||
| Pre-tax earnings, as adjusted |
$3,062 | $14,249 | $18,017 | $18,513 | $18,833 | $14,310 | ||||||||||||||||||||
|
Fixed charges 1: |
||||||||||||||||||||||||||
| Portion of rents representative of an interest factor |
$ 21 | $ 83 | $ 103 | $ 108 | $ 125 | $ 159 | ||||||||||||||||||||
| Interest expense on all indebtedness |
1,470 | 5,403 | 5,569 | 6,672 | 7,509 | 7,987 | ||||||||||||||||||||
| Total fixed charges |
$1,491 | $ 5,486 | $ 5,672 | $ 6,780 | $ 7,634 | $ 8,146 | ||||||||||||||||||||
|
Preferred stock dividend requirements |
133 | 743 | 583 | 458 | 274 | 2,683 | ||||||||||||||||||||
| Total combined fixed charges and preferred stock dividends |
$1,624 | $ 6,229 | $ 6,255 | $ 7,238 | $ 7,908 | $10,829 | ||||||||||||||||||||
|
Ratio of earnings to fixed charges |
2.05 | x | 2.60 | x | 3.18 | x | 2.73 | x | 2.47 | x | 1.76 | x | ||||||||||||||
|
Ratio of earnings to combined fixed charges and preferred stock dividends |
1.89 | x | 2.29 | x | 2.88 | x | 2.56 | x | 2.38 | x | 1.32 | x | ||||||||||||||
| 1. | Fixed charges include capitalized interest of $5 million for the three months ended March 2016, $15 million for 2015, $12 million for 2014, $4 million for 2013, $8 million for 2012 and $5 million for 2011. |