← GOLDMAN SACHS GROUP INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 TTM
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net earnings $7.4b
$4.3b -42.07%
$10.5b +144.03%
$8.5b -19.06%
$9.5b +11.73%
$21.6b +128.72%
$11.3b -47.95%
$8.5b -24.38%
$14.3b +67.64%
$17.2b +20.31%
—
Net Income (Loss) Attributable to Parent $7.4b
$4.3b -42.07%
$10.5b +144.03%
$8.5b -19.06%
$9.5b +11.73%
$21.6b +128.72%
$11.3b -47.95%
$8.5b -24.38%
$14.3b +67.64%
$17.2b +20.31%
—
Net Income (Loss) Available to Common Stockholders, Basic $7.1b
$3.7b -48.00%
$9.9b +167.57%
$7.9b -19.91%
$8.9b +12.89%
$21.2b +137.25%
$10.8b -49.11%
$7.9b -26.54%
$13.5b +71.05%
$16.3b +20.52%
—
Amortization of Intangible Assets $162.0m $150.0m $152.0m $173.0m $147.0m $120.0m $174.0m $681.0m $176.0m $83.0m —
Depreciation Amortization Depletion — — — — — — $2.5b $4.9b $2.4b $2.2b $2.1b
Depreciation and amortization $998.0m $1.2b $1.3b $1.7b $1.9b $2.0b $2.5b $4.9b $2.4b $2.2b $2.1b
Deferred Income Tax $551.0m $5.5b $2.6b $334.0m $833.0m $5.0m ($2.4b) ($1.4b) ($800.0m) $204.0m ($82.0m)
Deferred Tax — — — — — — ($2.4b) ($1.4b) ($800.0m) $204.0m ($82.0m)
Dividends and dividend equivalents paid on common stock, preferred stock and share-based awards ($2k) ($2k) ($2k) ($2k) ($2k) ($3k) ($4k) ($4k) ($4k) ($5k) —
Payment, Tax Withholding, Share-based Payment Arrangement — $2.2b $1.1b $745.0m $830.0m $985.0m $1.6b $1.3b $1.3b $2.2b —
Settlement of share-based awards in satisfaction of withholding tax requirements ($1.1b) ($2.2b) ($1.1b) ($745.0m) ($830.0m) ($985.0m) ($1.6b) ($1.3b) ($1.3b) ($2.2b) —
Share-based Payment Arrangement, Noncash Expense $2.1b $1.8b $1.8b $2.0b $1.9b $2.3b $4.1b $2.1b $2.7b $3.4b $3.5b
Share-based compensation $2.1b $1.8b $1.8b $2.0b $1.9b $2.3b $4.1b $2.1b $2.7b $3.4b $3.5b
Operating Lease, Impairment Loss — — — — — — — — — $0 —
Change In Working Capital — — — — — — ($9.5b) ($24.4b) ($26.5b) ($68.9b) ($65.0b)
Customer and other receivables and payables, net ($14.7b) ($30.1b) $7.2b ($7.7b) ($30.9b) $22.0b $35.0b ($28.2b) ($8.4b) ($43.2b) —
Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal — — — — — — — $1.2b $1.2b ($1.2b) —
Net Cash Provided by (Used in) Operating Activities $5.6b
($17.7b) -418.53%
$20.4b +215.10%
$23.9b +16.88%
($13.7b) -157.52%
$921.0m +106.71%
$8.7b +845.49%
($12.6b) -244.55%
($13.2b) -4.97%
($45.2b) -241.77%
($39.4b) +12.83%
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $2.9b $3.2b $8.0b $8.4b $6.3b $4.7b $3.7b $2.3b $2.1b $2.1b ($2.2b)
Proceeds from sales of property, leasehold improvements and equipment $381.0m $574.0m $3.7b $6.6b $3.0b $3.9b $2.7b $3.3b $1.6b $803.0m —
Debt Securities, Available-for-sale, Realized Gain (Loss) — — — — — — — $8.0m — — —
Payments to Acquire Investments — $9.9b $3.8b $29.8b $48.7b $39.9b $60.5b $40.3b — — ($137.8b)
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale — — — — — — — $8.1b $12.8b $43.0m —
Payments to Acquire Businesses, Net of Cash Acquired ($14.9b) $2.4b $162.0m $803.0m $231.0m $0 $2.1b ($487.0m) — — —
Net cash used for investing activities $9.7b ($28.6b) ($22.7b) ($24.2b) ($34.4b) ($30.5b) ($76.0b) ($17.3b) ($49.6b) ($44.2b) —
Net Cash Provided by (Used in) Investing Activities — — ($22.7b) ($24.2b) ($34.4b) ($30.5b) ($76.0b) ($17.3b) ($49.6b) ($44.2b) ($95.0b)
Cash flows from financing activities:
Gain (Loss) on Extinguishment of Debt ($3.0m) $114.0m $160.0m $20.0m $1.0m $0 $0 — — — —
Issuance Of Debt — — — — — — $86.3b $50.2b $72.5b $94.7b $156.0b
Long Term Debt Issuance — — — — — — $86.3b $50.2b $72.5b $94.7b $156.0b
Long Term Debt Payments — — — — — — ($46.2b) ($57.6b) ($76.6b) ($74.8b) ($81.5b)
Net Issuance Payments Of Debt — — — — — — $38.1b ($4.7b) $10.6b $19.0b $99.7b
Net Long Term Debt Issuance — — — — — — $40.1b ($7.4b) ($4.1b) $19.9b $74.6b
Net Short Term Debt Issuance — — — — — — ($2.0b) $2.7b $14.6b ($889.0m) $25.1b
Proceeds from issuance of unsecured long-term borrowings $50.8b $58.3b $45.9b $22.4b $47.2b $92.7b $84.5b $47.2b $67.3b $88.2b —
Repayment Of Debt — — — — — — ($46.2b) ($57.6b) ($76.6b) ($74.8b) ($81.5b)
Repayment of unsecured long-term borrowings, including the current portion ($36.6b) ($30.8b) ($37.2b) ($43.9b) ($55.0b) ($52.6b) ($42.8b) ($54.1b) ($74.5b) ($71.5b) —
Unsecured short-term borrowings, net ($1.5b) ($501.0m) $2.3b $14.0m $7.7b $2.1b $321.0m $2.0b $934.0m $3.0b —
Common Stock Payments — — — — — — ($3.5b) ($5.8b) ($8.0b) ($12.4b) ($14.0b)
Common stock repurchased ($6.1b) ($6.8b) ($3.3b) ($5.3b) ($1.9b) ($5.2b) ($3.5b) ($5.8b) ($8.0b) ($12.4b) —
Issuance Of Capital Stock — — — — — — $0 $1.5b $4.2b $1.9b $0
Net Common Stock Issuance — — — — — — ($3.5b) ($5.8b) ($8.0b) ($12.4b) ($14.0b)
Payments for Repurchase of Common Stock $6.1b $6.8b $3.3b $5.3b $1.9b $5.2b $3.5b $5.8b $8.0b $12.4b —
Repurchase Of Capital Stock — — — — — — ($3.5b) ($6.8b) ($10.2b) ($12.4b) ($16.1b)
Cash Dividends Paid — — — — — — ($3.7b) ($4.2b) ($4.5b) ($5.3b) ($6.1b)
Dividends paid $1.7b $1.8b $1.8b $2.1b $2.3b $2.7b $3.7b $4.2b $4.5b $5.3b ($6.1b)
Other Interest and Dividend Income $1.3b $2.1b $3.4b $3.4b $1.4b $1.5b $5.0b $13.9b $15.7b $14.4b —
Payments of Dividends $1.7b $1.8b $1.8b $2.1b $2.3b $2.7b $3.7b $4.2b $4.5b $5.3b ($6.1b)
Collateralized transactions (excluding other secured financings), net $78.0m $10.0b $28.1b $95.0b ($13.0b) ($70.1b) ($101.0b) $160.2b $68.6b ($12.9b) —
Net Other Financing Charges — — — — — — $563.0m $2.3b $1.3b $75.0m $1.2b
Other financing, net — — — $395.0m $392.0m $361.0m $361.0m $344.0m $247.0m ($82.0m) —
Other secured financings (short-term), net ($808.0m) ($405.0m) $586.0m ($2.0b) $2.9b ($1.3b) ($2.3b) $673.0m $13.7b ($3.9b) —
Proceeds from (Payments for) Other Financing Activities — — — $395.0m $392.0m $361.0m $361.0m $344.0m $247.0m ($82.0m) —
Proceeds from issuance of other secured financings (long-term) $4.2b $7.4b $5.0b $7.3b $8.1b $4.8b $1.8b $3.0b $5.2b $6.5b —
Repayment of other secured financings (long-term), including the current portion ($7.4b) ($4.7b) ($9.5b) ($7.5b) ($4.1b) ($6.6b) ($3.4b) ($3.6b) ($2.0b) ($3.3b) —
Net Cash Provided by (Used in) Financing Activities $12.1b
$35.2b +190.84%
$22.8b -35.36%
$3.4b -85.20%
$70.4b +1990.29%
$134.7b +91.44%
$59.6b -55.76%
$27.8b -53.36%
$7.3b -73.66%
$66.1b +802.64%
$171.7b +159.83%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — — — — ($19.2b) ($248.0m) ($59.5b) ($17.8b) $190.3b
Beginning Cash Position — — — — — — $261.0b $241.8b $241.6b $182.1b $153.0b
Cash and cash equivalents, beginning balance $93.4b $121.7b $110.1b $130.5b $133.5b $155.8b $241.8b $241.6b $182.1b $164.3b —
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — — — — $241.8b $241.6b $182.1b $164.3b $190.3b
Effect Of Exchange Rate Changes — — — — $4.8b ($5.4b) ($11.6b) $1.9b ($4.0b) $5.4b ($3.1b)
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Additional Financial Items
Cash Flow From Continuing Financing Activities — — — — — — $59.6b $27.8b $7.3b $66.1b $171.7b
Cash Flow From Continuing Investing Activities — — — — — — ($76.0b) ($17.3b) ($49.6b) ($44.2b) ($95.0b)
Cash payments for income taxes, net — $1.4b $1.3b $1.3b $2.8b $6.2b $4.6b $2.4b $3.7b $4.0b —
Cash payments for interest, net of capitalized interest — $11.2b $16.7b $18.6b $9.1b $5.5b $19.0b $60.0b $72.6b $65.5b —
Change In Cash Supplemental As Reported — — — — — — ($19.2b) ($248.0m) ($59.5b) ($17.8b) —
Change In Other Working Capital — — — — — — $88.4b ($186.3b) ($95.6b) ($55.5b) ($98.3b)
Changes In Cash — — — — — — ($7.7b) ($2.1b) ($55.5b) ($23.3b) $37.4b
Deposits, net $10.1b $14.5b $20.2b $31.2b $67.3b $103.5b $28.1b $39.7b $5.9b $62.8b —
Derivative contracts with a financing element, net $2.1b $1.7b $2.3b $4.0b $1.0b $1.1b $1.8b $3.3b $2.4b $2.3b —
End Cash Position — — — — — — $241.8b $241.6b $182.1b $164.3b $190.3b
Fair Value, Option, Changes in Fair Value, Gain (Loss) ($1.1b) ($4.3b) $2.6b ($9.5b) ($3.2b) ($3.5b) $11.6b ($9.8b) ($6.4b) ($13.2b) —
Financing Cash Flow — — — — — — $59.6b
$27.8b -53.36%
$7.3b -73.66%
$66.1b +802.64%
$171.7b +159.83%
Free Cash Flow — — — — — — $5.0b ($14.9b) ($15.3b) ($47.2b) ($41.5b)
Goodwill $3.7b $3.7b $3.8b $4.2b $4.3b $4.3b $6.4b $5.9b $5.9b $5.9b —
Income Tax Expense (Benefit) $2.9b $6.8b $2.0b $2.1b $3.0b $5.4b $2.2b $2.2b $4.1b $4.7b —
Income Taxes Paid, Net $1.1b $1.4b $1.3b $1.3b $2.8b $6.2b $4.6b $2.4b $3.7b $4.0b —
Interest Paid, Excluding Capitalized Interest, Operating Activities $7.1b $11.2b $16.7b $18.6b $9.1b $5.5b $19.0b $60.0b $72.6b $65.5b —
Investing Cash Flow — — — — — — ($76.0b) ($17.3b) ($49.6b) ($44.2b) ($95.0b)
Investment Income, Interest — — — — — — — $3.9b $6.0b $7.6b —
Loans (excluding loans held for sale), net ($4.7b) ($17.2b) ($14.9b) ($9.7b) ($11.2b) ($35.5b) ($25.2b) ($5.4b) ($17.0b) ($39.3b) —
Loans held for sale, net — ($2.4b) $442.0m ($1.5b) $1.8b ($5.6b) $3.2b $1.6b $537.0m ($504.0m) —
Net Business Purchase And Sale — — — — — — ($2.1b) $487.0m $3.6b $1.5b ($247.0m)
Net Investment Purchase And Sale — — — — — — ($47.6b) ($13.4b) ($35.7b) ($5.2b) ($52.8b)
Net PPE Purchase And Sale — — — — — — ($1.0b) $962.0m ($478.0m) ($1.3b) ($1.5b)
Net Preferred Stock Issuance — — — — — — $0 $496.0m $2.0b $1.9b ($2.1b)
Net cash received from business dispositions — — — — — — ($2.1b) $487.0m $3.6b $1.5b —
Net decrease in cash and cash equivalents — — — — $22.3b $105.2b ($19.2b) ($248.0m) ($59.5b) ($17.8b) —
Other Non Cash Items — — — — — — $87.0m ($3.3b) ($6.6b) $1.9b —
Other, net ($7.0b) $6.4b $652.0m ($6.0b) $1.3b ($13.6b) $87.0m ($3.3b) ($6.6b) $1.9b —
Preferred Stock Issuance — — — — — — $0 $1.5b $4.2b $1.9b $0
Preferred Stock Payments — — — — — — $0 ($1.0b) ($2.2b) $0 ($2.1b)
Preferred stock redemption ($1.2b) ($850.0m) ($650.0m) ($1.1b) ($350.0m) ($2.7b) $0 ($1.0b) ($2.2b) $0 —
Proceeds from issuance of preferred stock, net of issuance costs $1.3b $1.5b — $1.1b $349.0m $2.2b $0 $1.5b $4.2b $1.9b —
Proceeds from paydowns and maturities — — — — — — $3.7b $8.6b $15.5b $21.7b —
Proceeds from sales — — — — — — $2.0m $3.2b $19.0b $61.3b —
Proceeds from sales, paydowns and maturities — — — — — — $9.3b $7.0b $9.0b $9.9b —
Provision for Loan, Lease, and Other Losses — — $674.0m $1.1b $3.1b $357.0m $2.7b $1.0b $1.3b ($1.1b) ($1.4b)
Provision for credit losses $182.0m $657.0m $674.0m $1.1b $3.1b $357.0m $2.7b $1.0b $1.3b ($1.1b) —
Purchase Of Business — — — — — $0 ($2.1b) — — — —
Purchase Of Investment — — — — — — ($60.5b) ($40.3b) ($92.1b) ($98.1b) ($137.8b)
Purchase Of PPE $2.9b $3.2b $8.0b $8.4b $6.3b $4.7b ($3.7b) ($2.3b) ($2.1b) ($2.1b) ($2.2b)
Purchases — — — — — — ($6.7b) ($4.8b) ($8.2b) ($9.4b) ($2.2b)
Sale Of Investment — — — — — — $13.0b $26.8b $56.4b $92.9b $85.0b
Sale Of PPE — — — — — — $2.7b $3.3b $1.6b $803.0m $620.0m
Stock Based Compensation — — — — — — $4.1b $2.1b $2.7b $3.4b $3.5b
Supplemental disclosure of cash flow information:
Trading assets $15.3b ($11.3b) ($23.4b) ($68.7b) ($33.4b) $15.2b $45.3b ($163.8b) ($87.0b) ($69.9b) —
Trading liabilities — ($5.3b) ($3.7b) ($231.0m) $44.9b $26.6b $8.1b $5.8b ($212.0m) $57.6b —

Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.