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Goldman Sachs Group Inc (NYSE:GS)
Cash Flow from Operations
$5,570 Mil (TTM As of Dec. 2016)

Cash flow from operations refers to the cash brought in through a company’'s normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.

For the three months ended in Dec. 2016, Goldman Sachs Group Inc's Net Income From Continuing Operations was $2,347 Mil. Its DDA was $267 Mil. Its Change In Working Capital was $461 Mil. Its cash flow from deferred tax was $0 Mil. Its Cash Flow from Discontinued Operations was $0 Mil. Its Stock Based Compensation was $168 Mil. And its Cash Flow from Others was $554 Mil. In all, Goldman Sachs Group Inc's Cash Flow from Operations for the three months ended in Dec. 2016 was $3,797 Mil.


Definition

Cash flow from operations refers to the cash brought in through a company’'s normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.

Goldman Sachs Group Inc's Cash Flow from Operations for the fiscal year that ended in Dec. 2016 is calculated as:

Goldman Sachs Group Inc's Cash Flow from Operations for the quarter that ended in Dec. 2016 is

Goldman Sachs Group Inc Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2016 was -3932 (Mar. 2016 ) + 9605 (Jun. 2016 ) + -3900 (Sep. 2016 ) + 3797 (Dec. 2016 ) = $5,570 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Cash flow from operations contains six items:

1. Net Income From Continuing Operations:
Net Income From Continuing Operations indicates the net income that a firm brings in from ongoing business activities. These activities are expected to continue into the next reporting period. It excludes extraordinary items, income from the cumulative effects of accounting changes, non-recurring items, income from tax loss carry forward, and preferred dividends.

Goldman Sachs Group Inc's net income from continuing operations for the three months ended in Dec. 2016 was $2,347 Mil.

2. Depreciation, Depletion and Amortization:
Depreciation is a present expense that accounts for the past cost of an asset that is now providing benefits.
Depletion and amortization are synonyms for depreciation.
Generally:
• The term “depreciation” is used when discussing man made tangible assets
• The term “depletion” is used when discussing natural tangible assets
• The term “amortization” is used when discussing intangible assets

Goldman Sachs Group Inc's depreciation, depletion and amortization for the three months ended in Dec. 2016 was $267 Mil.

3. Change In Working Capital:
Working Capital is a measure of a company's short term liquidity or its ability to cover short term liabilities. It is defined as the difference between a company's current assets and current liabilities. Changes in Working Capital is reported in the cash flow statement since it is one of the major ways in which net income can differ from operating cash flow.

Goldman Sachs Group Inc's change in working capital for the three months ended in Dec. 2016 was $461 Mil. It means Goldman Sachs Group Inc's working capital increased by $461 Mil from Sep. 2016 to Dec. 2016 .

4. Deferred Tax:
It is the cash flow generated from deferred tax.

Goldman Sachs Group Inc's cash flow from deferred tax for the three months ended in Dec. 2016 was $0 Mil.

5. Cash Flow from Discontinued Operations:
Cash received by a company that comes from the sale of part of business.

Goldman Sachs Group Inc's cash flow from discontinued operations for the three months ended in Dec. 2016 was $0 Mil.

6. Stock Based Compensation:
It is a way corporations use stock options to reward employees. It provides executives and employees the opportunity to share in the growth of the company and, if structured properly, can align their interests with the interests of the company's shareholders and investors, without burning the company's cash on hand.

Goldman Sachs Group Inc's stock based compensation for the three months ended in Dec. 2016 was $168 Mil.

7. Cash Flow from Others:
These are cash differences caused by the change of inventory, accounts payable, accounts receivable etc. For instance, if a company pays its suppliers slower, its cash position will build up faster. If a company receives payments from its customers slower, its account receivables will rise, and its cash position will grow more slowly (or even shrink).

Goldman Sachs Group Inc's cash flow from others for the three months ended in Dec. 2016 was $554 Mil.


Related Terms

Net Income From Continuing Operations, Depreciation, Depletion and Amortization, Change In Working Capital, Cash Flow from Discontinued Operations, Stock Based Compensation, Cash Flow from Others, Cash Flow from Investing


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Goldman Sachs Group Inc Annual Data

Nov07Nov08Dec09Dec10Dec11Dec12Dec13Dec14Dec15Dec16
NetIncomeFromContinuingOperations 11,5992,32213,3858,3544,4427,4758,0408,4776,0837,398
CF_DDA 1,1671,6251,9431,9041,8691,7381,3221,337991998
ChangeInWorkingCapital -93,519-1,90131,969-21,78911,7593,197-6,652-19,728-2,776-5,491
CF_DeferredTax 129-1,763-4311,339726-35629495425551
Cash Flow from Disc. Op. 0000000000
Stock Based Compensation 01,6112,0094,0352,8491,3192,0152,0852,2722,111
Cash Flow from Others 12,4270000-494-211-289-343
Cash Flow from Operations -68,1971,89448,875-6,15721,64512,8794,543-7,6236,9615,570

Goldman Sachs Group Inc Quarterly Data

Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16Mar17
NetIncomeFromContinuingOperations 2,1662,8441,0481,4267651,1351,8222,0942,3472,255
CF_DDA 352219265222285239245247267257
ChangeInWorkingCapital 1,8201,881-9,327-4855,155-6,9717,389-6,3704610
CF_DeferredTax 0000000000
Cash Flow from Disc. Op. 0000000000
Stock Based Compensation 1541,8091631351651,6651491291680
Cash Flow from Others 476-34004250005540
Cash Flow from Operations 4,9686,719-7,8511,2986,795-3,9329,605-3,9003,7970
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