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| <NonNumbericText> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <!-- Begin Block Tagged Note 19 - gs:ShareholdersEquityTextBlock--> <div style="margin-left: 0%"> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> <b><font style="font-family: Arial, Helvetica">Note 19. Shareholders’ Equity</font></b> </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> <b><font style="font-family: Arial, Helvetica">Common Equity</font></b> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> On April 18, 2011, Group Inc. declared a dividend of $0.35 per common share to be paid on June 29, 2011 to common shareholders of record on June 1, 2011. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> The firm’s share repurchase program is intended to substantially offset increases in share count over time resulting from employee <font style="white-space: nowrap">share-based</font> compensation and to help maintain the appropriate level of common equity. The repurchase program is effected primarily through regular <font style="white-space: nowrap">open-market</font> purchases, the amounts and timing of which are determined primarily by the firm’s issuance of shares resulting from employee <font style="white-space: nowrap">share-based</font> compensation as well as its current and projected capital position (i.e., comparisons of the firm’s desired level of capital to its actual level of capital), but which may also be influenced by general market conditions and the prevailing price and trading volumes of the firm’s common stock. Any repurchase of the firm’s common stock requires approval by the Board of Governors of the Federal Reserve System (Federal Reserve Board). </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> During the three months ended March 2011, the firm repurchased 9.0 million shares of its common stock at an average cost per share of $163.22, for a total cost of $1.47 billion, under the share repurchase program. In addition, pursuant to the terms of certain <font style="white-space: nowrap">share-based</font> compensation plans, employees may remit shares to the firm or the firm may cancel RSUs to satisfy minimum statutory employee tax withholding requirements. Under these plans, during the three months ended March 2011, employees remitted 75,378 shares with a total value of $12 million and the firm cancelled 11.0 million of RSUs with a total value of $1.78 billion. </div> <div style="margin-top: 12pt; font-size: 1pt"> </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> <b><font style="font-family: Arial, Helvetica">Preferred Equity</font></b> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> The table below presents perpetual preferred stock issued and outstanding. </div> <table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"> <!-- Table Width Row BEGIN --> <tr style="font-size: 1pt" valign="bottom"> <td width="1%"> </td><!-- colindex=01 type=maindata --> <td width="4%"> </td><!-- colindex=02 type=gutter --> <td width="3%"> </td><!-- colindex=02 type=maindata --> <td width="4%"> </td><!-- colindex=03 type=gutter --> <td width="2%" align="right"> </td><!-- colindex=03 type=lead --> <td width="4%" align="right"> </td><!-- colindex=03 type=body --> <td width="4%"> </td><!-- colindex=04 type=gutter --> <td width="4%" align="right"> </td><!-- colindex=04 type=lead --> <td width="5%" align="right"> </td><!-- colindex=04 type=body --> <td width="4%"> </td><!-- colindex=05 type=gutter --> <td width="21%"> </td><!-- colindex=05 type=maindata --> <td width="4%"> </td><!-- colindex=06 type=gutter --> <td width="12%"> </td><!-- colindex=06 type=maindata --> <td width="4%"> </td><!-- colindex=07 type=gutter --> <td width="7%" align="right"> </td><!-- colindex=07 type=lead --> <td width="1%" align="right"> </td><!-- colindex=07 type=body --> <td width="1%" align="left"> </td><!-- colindex=07 type=hang1 --> <td width="1%"> </td><!-- colindex=08 type=gutter --> <td width="1%"> </td><!-- colindex=08 type=maindata --> </tr> <!-- Table Width Row END --> <!-- TableOutputHead --> <tr style="font-size: 1pt" valign="bottom" align="center"> <td colspan="19" align="right" valign="bottom" style="font-size: 1pt; border-bottom: 1px solid #000000"> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>Redemption<br /> </b> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>Shares<br /> </b> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>Shares<br /> </b> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>Shares<br /> </b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>Earliest<br /> </b> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>Value<br /> </b> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="left" valign="bottom"> <b>Series</b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>Authorized</b> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>Issued</b> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>Outstanding</b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>Dividend Rate</b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>Redemption Date</b> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <i>(in millions)</i> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> </tr> <tr style="font-size: 1pt" valign="bottom" align="center"> <td colspan="19" align="right" valign="bottom" style="font-size: 1pt; border-bottom: 1px solid #000000"> </td> </tr> <!-- TableOutputBody --> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="center" valign="top"> <div style="text-indent: -8pt; margin-left: 8pt"> A </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> 50,000 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 30,000 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 29,999 </td> <td> </td> <td align="right" valign="top"> 3 month LIBOR + 0.75%,<br /> with floor of 3.75% per annum </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> April 25, 2010 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> $ </td> <td nowrap="nowrap" align="right" valign="top"> 750 </td> <td nowrap="nowrap" align="left" valign="top"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="center" valign="top"> <div style="text-indent: -8pt; margin-left: 8pt"> B </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> 50,000 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 32,000 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 32,000 </td> <td> </td> <td align="right" valign="top"> 6.20% per annum </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> October 31, 2010 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 800 </td> <td nowrap="nowrap" align="left" valign="top"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="center" valign="top"> <div style="text-indent: -8pt; margin-left: 8pt"> C </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> 25,000 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 8,000 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 8,000 </td> <td> </td> <td align="right" valign="top"> 3 month LIBOR + 0.75%,<br /> with floor of 4.00% per annum </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> October 31, 2010 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 200 </td> <td nowrap="nowrap" align="left" valign="top"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="center" valign="top"> <div style="text-indent: -8pt; margin-left: 8pt"> D </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> 60,000 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 54,000 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 53,999 </td> <td> </td> <td align="right" valign="top"> 3 month LIBOR + 0.67%,<br /> with floor of 4.00% per annum </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> May 24, 2011 </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> 1,350 </td> <td nowrap="nowrap" align="left" valign="top"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="19" align="center" valign="top"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="19" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="center" valign="top"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> <b>185,000</b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> <b>124,000</b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td nowrap="nowrap" align="right" valign="top"> <b>123,998</b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="top"> <b>$</b> </td> <td nowrap="nowrap" align="right" valign="top"> <b>3,100</b> </td> <td nowrap="nowrap" align="left" valign="top"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="19" align="center" valign="top"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="19" style="border-top: 3px double #000000"> </td> </tr> </table> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> Each share of <font style="white-space: nowrap">non-cumulative</font> Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock issued and outstanding has a par value of $0.01, has a liquidation preference of $25,000, is represented by 1,000 depositary shares and is redeemable at the firm’s option, subject to the approval of the Federal Reserve Board, at a redemption price equal to $25,000 plus declared and unpaid dividends. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> All series of preferred stock are pari passu and have a preference over the firm’s common stock on liquidation. Dividends on each series of preferred stock, if declared, are payable quarterly in arrears. The firm’s ability to declare or pay dividends on, or purchase, redeem or otherwise acquire, its common stock is subject to certain restrictions in the event that the firm fails to pay or set aside full dividends on the preferred stock for the latest completed dividend period. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> In 2007, the Board of Directors of Group Inc. (Board) authorized 17,500.1 shares of Series E Preferred Stock, and 5,000.1 shares of Series F Preferred Stock, in connection with the APEX Trusts. See Note 16 for further information. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> Under the stock purchase contracts with the APEX Trusts, Group Inc. will issue on the relevant stock purchase dates (on or before June 1, 2013 and September 1, 2013 for Series E and Series F Preferred Stock, respectively) one share of Series E and Series F Preferred Stock to Goldman Sachs Capital II and III, respectively, for each $100,000 principal amount of subordinated debt held by these trusts. When issued, each share of Series E and Series F Preferred Stock will have a par value of $0.01 and a liquidation preference of $100,000 per share. </div> <!-- XBRL Pagebreak Begin --> <div align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> </div> </div> <!-- END PAGE WIDTH --> <!-- PAGEBREAK --> <div style="margin-left: 0%"> <!-- BEGIN PAGE WIDTH --> <div style="margin-top: 0pt; font-size: 1pt"> </div> <div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> <b> <font style="font-family: Arial, Helvetica"> </font> </b> </div> <div style="margin-top: 0pt; font-size: 1pt"> </div> <div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> <b> <font style="font-family: Arial, Helvetica"> </font> </b> </div> <div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> <b> <font style="font-family: Arial, Helvetica"> </font> </b> </div> <div style="margin-top: 0pt; font-size: 1pt"> </div> <!-- XBRL Pagebreak End --> <div style="margin-top: 0pt; font-size: 1pt"> </div> <div align="left" style="margin-top: 6pt; text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> Dividends on Series E Preferred Stock, if declared, will be payable <font style="white-space: nowrap">semi-annually</font> at a fixed annual rate of 5.79% if the stock is issued prior to June 1, 2012 and quarterly thereafter, at a rate per annum equal to the greater of <font style="white-space: nowrap">(i) three-month</font> LIBOR plus 0.77% and (ii) 4.00%. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> Dividends on Series F Preferred Stock, if declared, will be payable quarterly at a rate per annum equal to <font style="white-space: nowrap">three-month</font> LIBOR plus 0.77% if the stock is issued prior to September 1, 2012 and quarterly thereafter, at a rate per annum equal to the greater of <font style="white-space: nowrap">(i) three-month</font> LIBOR plus 0.77% and (ii) 4.00%. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> The preferred stock may be redeemed at the option of the firm on the stock purchase dates or any day thereafter, subject to approval from the Federal Reserve Board and certain covenant restrictions governing the firm’s ability to redeem or purchase the preferred stock without issuing common stock or other instruments with <font style="white-space: nowrap">equity-like</font> characteristics. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> In March 2011, the firm provided notice to Berkshire Hathaway Inc. and certain of its subsidiaries (collectively, Berkshire Hathaway) that it would redeem in full the 50,000 shares of the firm’s Series G Preferred Stock held by Berkshire Hathaway for the stated redemption price of $5.50 billion ($110,000 per share), plus accrued and unpaid dividends. In connection with this notice, the firm recognized a preferred dividend of $1.64 billion (calculated as the difference between the carrying value and redemption value of the preferred stock), which was recorded as a reduction to the firm’s first quarter earnings applicable to common shareholders and common shareholders’ equity. The redemption also resulted in the acceleration of $24 million of preferred dividends related to the period from April 1, 2011 to the redemption date, which was included in the firm’s results for the three months ended March 2011. The Series G Preferred Stock was redeemed on April 18, 2011. Berkshire Hathaway continues to hold a five-year warrant, issued in October 2008, to purchase up to 43.5 million shares of common stock at an exercise price of $115.00 per share. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> The table below presents preferred dividends declared on preferred stock. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"> <!-- Table Width Row BEGIN --> <tr style="font-size: 1pt" valign="bottom"> <td width="30%"> </td><!-- colindex=01 type=maindata --> <td width="3%"> </td><!-- colindex=02 type=gutter --> <td width="11%" align="right"> </td><!-- colindex=02 type=lead --> <td width="1%" align="right"> </td><!-- colindex=02 type=body --> <td width="1%" align="left"> </td><!-- colindex=02 type=hang1 --> <td width="4%"> </td><!-- colindex=03 type=gutter --> <td width="11%" align="right"> </td><!-- colindex=03 type=lead --> <td width="1%" align="right"> </td><!-- colindex=03 type=body --> <td width="1%" align="left"> </td><!-- colindex=03 type=hang1 --> <td width="4%"> </td><!-- colindex=04 type=gutter --> <td width="11%" align="right"> </td><!-- colindex=04 type=lead --> <td width="1%" align="right"> </td><!-- colindex=04 type=body --> <td width="1%" align="left"> </td><!-- colindex=04 type=hang1 --> <td width="4%"> </td><!-- colindex=05 type=gutter --> <td width="11%" align="right"> </td><!-- colindex=05 type=lead --> <td width="1%" align="right"> </td><!-- colindex=05 type=body --> <td width="1%" align="left"> </td><!-- colindex=05 type=hang1 --> <td width="1%"> </td><!-- colindex=06 type=gutter --> <td width="2%"> </td><!-- colindex=06 type=maindata --> </tr> <!-- Table Width Row END --> <!-- TableOutputHead --> <tr style="font-size: 1pt" valign="bottom" align="center"> <td colspan="19" nowrap="nowrap" align="right" valign="bottom" style="font-size: 1pt; border-bottom: 1px solid #000000"> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td colspan="17" nowrap="nowrap" align="center" valign="bottom"> <b>Three Months<br /> </b> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td colspan="17" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"> <b>Ended March </b> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"> <b>2011</b> </td> <td> </td> <td> </td> <td colspan="9" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"> <b>2010</b> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <i>per share</i> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <i>in millions</i> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <i>per share</i> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <i>in millions</i> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> </tr> <tr style="font-size: 1pt" valign="bottom" align="center"> <td colspan="19" nowrap="nowrap" align="right" valign="bottom" style="font-size: 1pt; border-bottom: 1px solid #000000"> </td> </tr> <!-- TableOutputBody --> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Series A </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>$</b> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>239.58</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>$</b> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>7</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> $ </td> <td nowrap="nowrap" align="right" valign="bottom"> 239.58 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> $ </td> <td nowrap="nowrap" align="right" valign="bottom"> 7 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Series B </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>387.50</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>12</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 387.50 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 12 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Series C </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>255.56</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>2</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 255.56 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 2 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Series D </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>255.56</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>14</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 255.56 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 14 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Series G </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>2,500.00</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>125</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> <b> <sup style="font-size: 85%; vertical-align: top">1</sup></b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 2,500.00 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 125 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="19" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="19" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td nowrap="nowrap" align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> <b>Total</b> </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>$</b> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>160</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>$</b> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>160</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="19" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="19" style="border-top: 3px double #000000"> </td> </tr> </table> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> </div> <div style="margin-top: 3pt; font-size: 1pt"> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"> <tr> <td width="2%"></td> <td width="98%"></td> </tr> <tr valign="top" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> <td> 1. </td> <td align="left" style="text-align:justify"> Excludes preferred dividends related to the redemption of the firm’s Series G Preferred Stock. </td> </tr> </table> <div style="margin-top: 12pt; font-size: 1pt"> </div> <div align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> <b><font style="font-family: Arial, Helvetica">Accumulated Other Comprehensive Income/(Loss)</font></b> </div> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> The table below presents accumulated other comprehensive income/(loss) by type. </div> <div style="margin-top: 6pt; font-size: 1pt"> </div> <table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"> <!-- Table Width Row BEGIN --> <tr style="font-size: 1pt" valign="bottom"> <td width="66%"> </td><!-- colindex=01 type=maindata --> <td width="3%"> </td><!-- colindex=02 type=gutter --> <td width="7%" align="right"> </td><!-- colindex=02 type=lead --> <td width="1%" align="right"> </td><!-- colindex=02 type=body --> <td width="1%" align="left"> </td><!-- colindex=02 type=hang1 --> <td width="4%"> </td><!-- colindex=03 type=gutter --> <td width="13%" align="right"> </td><!-- colindex=03 type=lead --> <td width="1%" align="right"> </td><!-- colindex=03 type=body --> <td width="1%" align="left"> </td><!-- colindex=03 type=hang1 --> <td width="1%"> </td><!-- colindex=04 type=gutter --> <td width="2%"> </td><!-- colindex=04 type=maindata --> </tr> <!-- Table Width Row END --> <!-- TableOutputHead --> <tr style="font-size: 1pt" valign="bottom" align="center"> <td colspan="11" align="right" valign="bottom" style="font-size: 1pt; border-bottom: 1px solid #000000"> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td> </td> <td colspan="9" align="center" valign="bottom" style="border-bottom: 1px solid #000000"> <b>As of </b> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>March<br /> </b> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>December<br /> </b> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> </tr> <tr style="font-size: 8pt" valign="bottom" align="center"> <td nowrap="nowrap" align="left" valign="bottom"> <i>in millions</i> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>2011</b> </td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="right" valign="bottom"> <b>2010</b> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> </tr> <tr style="font-size: 1pt" valign="bottom" align="center"> <td colspan="11" align="right" valign="bottom" style="font-size: 1pt; border-bottom: 1px solid #000000"> </td> </tr> <!-- TableOutputBody --> <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Currency translation adjustment, net of tax </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>$</b> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>(192</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> <b>)</b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> $ </td> <td nowrap="nowrap" align="right" valign="bottom"> (170 </td> <td nowrap="nowrap" align="left" valign="bottom"> ) </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom"> <td align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Pension and postretirement liability adjustments, net of tax </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>(228</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> <b>)</b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> (229 </td> <td nowrap="nowrap" align="left" valign="bottom"> ) </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> Net unrealized gains on <font style="white-space: nowrap">available-for-sale</font> securities, net of tax <sup style="font-size: 85%; vertical-align: top">1</sup> </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>90</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> </td> <td nowrap="nowrap" align="right" valign="bottom"> 113 </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="11" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="11" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td align="left" valign="bottom"> <div style="text-indent: -8pt; margin-left: 8pt"> <b>Total accumulated other comprehensive loss, net of tax</b> </div> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>$</b> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>(330</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> <b>)</b> </td> <td> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>$</b> </td> <td nowrap="nowrap" align="right" valign="bottom"> <b>(286</b> </td> <td nowrap="nowrap" align="left" valign="bottom"> <b>)</b> </td> <td> </td> <td nowrap="nowrap" align="left" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="11" valign="bottom"> </td> </tr> <tr valign="bottom" style="font-size: 1pt"> <td colspan="11" style="border-top: 3px double #000000"> </td> </tr> </table> <div align="left" style="text-align:justify; margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> </div> <div style="margin-top: 3pt; font-size: 1pt"> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"> <tr> <td width="2%"></td> <td width="98%"></td> </tr> <tr valign="top" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> <td> 1. </td> <td align="left" style="text-align:justify"> Substantially all consists of net unrealized gains on <font style="white-space: nowrap">available-for-sale</font> securities held by the firm’s insurance subsidiaries as of both March 2011 and December 2010. </td> </tr> </table> <!-- XBRL Pagebreak Begin --> <div align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"> </div> </div> <!-- END PAGE WIDTH --> <!-- PAGEBREAK --> <div style="margin-left: 0%"> <!-- BEGIN PAGE WIDTH --> <div style="margin-top: 0pt; 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