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Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Investment banking $ 6,163 $ 6,482 $ 6,003
Trading 11,095 11,551 11,116
Investments 1,540 437 820
Commissions and fees 3,919 4,190 4,061
Asset management 13,083 12,898 11,797
Other 925 743 848
Total non-interest revenues 36,725 36,301 34,645
Interest income 17,098 13,892 8,997
Interest expense 12,404 10,086 5,697
Net interest 4,694 3,806 3,300
Net revenues 41,419 40,107 37,945
Non-interest expenses      
Compensation and benefits 18,837 17,632 17,166
Occupancy and equipment 1,428 1,391 1,329
Brokerage, clearing and exchange fees 2,493 2,393 2,093
Information processing and communications 2,194 2,016 1,791
Marketing and business development 660 691 609
Professional services 2,137 2,265 2,169
Other 2,369 2,482 2,385
Total non-interest expenses 30,118 28,870 27,542
Income from continuing operations before income taxes 11,301 11,237 10,403
Provision for income taxes 2,064 2,350 4,168
Income from continuing operations 9,237 8,887 6,235
Income (loss) from discontinued operations, net of income taxes 0 (4) (19)
Net income 9,237 8,883 6,216
Net income applicable to noncontrolling interests 195 135 105
Net income applicable to Morgan Stanley 9,042 8,748 6,111
Preferred stock dividends and other 530 526 523
Earnings applicable to Morgan Stanley common shareholders $ 8,512 $ 8,222 $ 5,588
Earnings per basic common share      
Income from continuing operations (USD per share) $ 5.26 $ 4.81 $ 3.15
Income (loss) from discontinued operations (USD per share) 0 0 (0.01)
Earnings per basic common share (USD per share) 5.26 4.81 3.14
Earnings per diluted common share      
Income from continuing operations (USD per share) 5.19 4.73 3.08
Income (loss) from discontinued operations (USD per share) 0 0 (0.01)
Earnings per diluted common share (USD per share) $ 5.19 $ 4.73 $ 3.07
Average common shares outstanding      
Basic (shares) 1,617 1,708 1,780
Diluted (shares) 1,640 1,738 1,821