Selected Financial Information by Business Segment |
Selected Financial Information by Business Segment | | | | | | | | | | | | | | 2017 | $ in millions | | IS | | WM | | IM1, 2 | | I/E | | Total | Total non-interest | | | | | | | | | | | revenues | $ | 19,622 | $ | 12,731 | $ | 2,586 | $ | (294) | $ | 34,645 | Interest income | | 5,377 | | 4,591 | | 4 | | (975) | | 8,997 | Interest expense | | 6,186 | | 486 | | 4 | | (979) | | 5,697 | Net interest | | (809) | | 4,105 | | — | | 4 | | 3,300 | Net revenues | $ | 18,813 | $ | 16,836 | $ | 2,586 | $ | (290) | $ | 37,945 | Income from continuing | | | | | | | | | operations before | | | | | | | | | | | income taxes | $ | 5,644 | $ | 4,299 | $ | 456 | $ | 4 | $ | 10,403 | Provision for income taxes3 | 1,993 | | 1,974 | | 201 | | — | | 4,168 | Income from continuing | | | | | | | | | operations | 3,651 | | 2,325 | | 255 | | 4 | | 6,235 | Income (loss) from | | | | | | | | | | | discontinued operations, | | | | | | | | | | net of income taxes | (19) | | — | | — | | — | | (19) | Net income | | 3,632 | | 2,325 | | 255 | | 4 | | 6,216 | Net income applicable | | | | | | | | | to noncontrolling interests | 96 | | — | | 9 | | — | | 105 | Net income applicable | | | | | | | | | | | to Morgan Stanley | $ | 3,536 | $ | 2,325 | $ | 246 | $ | 4 | $ | 6,111 |
| | 2016 | $ in millions | | IS4 | | WM4 | | IM1, 2 | | I/E | | | Total | Total non-interest | | | | | | | | | | | | revenues | $ | 17,294 | $ | 11,821 | $ | 2,108 | $ | (290) | | $ | 30,933 | Interest income | | 4,005 | | 3,888 | | 5 | | (882) | | | 7,016 | Interest expense | | 3,840 | | 359 | | 1 | | (882) | | | 3,318 | Net interest | | 165 | | 3,529 | | 4 | | — | | | 3,698 | Net revenues | $ | 17,459 | $ | 15,350 | $ | 2,112 | $ | (290) | | $ | 34,631 | Income from continuing | | | | | | | | | | | | operations before | | | | | | | | | | | | income taxes | $ | 5,123 | $ | 3,437 | $ | 287 | $ | 1 | | $ | 8,848 | Provision for income taxes3 | 1,318 | | 1,333 | | 75 | | — | | | 2,726 | Income from continuing | | | | | | | | | | operations | | 3,805 | | 2,104 | | 212 | | 1 | | | 6,122 | Income (loss) from | | | | | | | | | | | | discontinued operations, | | | | | | | | | | | net of income taxes | (1) | | — | | 2 | | — | | | 1 | Net income | | 3,804 | | 2,104 | | 214 | | 1 | | | 6,123 | Net income (loss) applicable | | | | | | | | | | to noncontrolling interests | 155 | | — | | (11) | | — | | | 144 | Net income applicable | | | | | | | | | | to Morgan Stanley | $ | 3,649 | $ | 2,104 | $ | 225 | $ | 1 | | $ | 5,979 |
| | 2015 | $ in millions | | IS4 | | WM4 | | IM1 | | I/E | | Total | Total non-interest | | | | | | | | | | | revenues | $ | 17,800 | $ | 12,144 | $ | 2,331 | $ | (213) | $ | 32,062 | Interest income | | 3,190 | | 3,105 | | 2 | | (462) | | 5,835 | Interest expense | | 3,037 | | 149 | | 18 | | (462) | | 2,742 | Net interest | | 153 | | 2,956 | | (16) | | — | | 3,093 | Net revenues | $ | 17,953 | $ | 15,100 | $ | 2,315 | $ | (213) | $ | 35,155 | Income from continuing | | | | | | | | | | | operations before | | | | | | | | | | | income taxes | $ | 4,671 | $ | 3,332 | $ | 492 | $ | — | $ | 8,495 | Provision for income taxes3 | | 825 | | 1,247 | | 128 | | — | | 2,200 | Income from continuing | | | | | | | | | | | operations | | 3,846 | | 2,085 | | 364 | | — | | 6,295 | Income (loss) from | | | | | | | | | | | discontinued operations, | | | | | | | | | | net of income taxes | | (17) | | — | | 1 | | — | | (16) | Net income | | 3,829 | | 2,085 | | 365 | | — | | 6,279 | Net income applicable | | | | | | | | | | | to noncontrolling interests | 133 | | — | | 19 | | — | | 152 | Net income applicable | | | | | | | | | | | to Morgan Stanley | $ | 3,696 | $ | 2,085 | $ | 346 | $ | — | $ | 6,127 |
I/E – Intersegment Eliminations - For information on fee waivers see the table below.
- For information on net unrealized performance-based fees see the table below.
- The Firm’s effective tax rate from continuing operations included net discrete tax provisions (benefits). See table below for further information.
- Effective July 1, 2016, the Institutional Securities and Wealth Management business segments entered into an agreement, whereby Institutional Securities assumed management of Wealth Management’s fixed income client-driven trading activities and employees. Institutional Securities now pays fees to Wealth Management based on distribution activity (collectively, the “Fixed Income Integration”). Prior periods have not been recast for this new intersegment agreement due to immateriality.
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