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Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Investment banking $ 7,674 $ 6,163 $ 6,482
Trading 13,992 11,095 11,551
Investments 986 1,540 437
Commissions and fees 4,851 3,919 4,190
Asset management 14,272 13,083 12,898
Other 110 925 743
Total non-interest revenues 41,885 36,725 36,301
Interest income 10,162 17,098 13,892
Interest expense 3,849 12,404 10,086
Net interest 6,313 4,694 3,806
Net revenues 48,198 41,419 40,107
Non-interest expenses      
Compensation and benefits 20,854 18,837 17,632
Brokerage, clearing and exchange fees 2,929 2,493 2,393
Information processing and communications 2,465 2,194 2,016
Professional services 2,205 2,137 2,265
Occupancy and equipment 1,559 1,428 1,391
Marketing and business development 434 660 691
Other 3,334 2,369 2,482
Total non-interest expenses 33,780 30,118 28,870
Income before provision for income taxes 14,418 11,301 11,237
Provision for income taxes 3,239 2,064 2,350
Income from continuing operations 11,179 9,237 8,887
Income (loss) from discontinued operations, net of income taxes 0 0 (4)
Net income 11,179 9,237 8,883
Net income applicable to noncontrolling interests 183 195 135
Net income applicable to Morgan Stanley 10,996 9,042 8,748
Preferred stock dividends and other 496 530 526
Earnings applicable to Morgan Stanley common shareholders $ 10,500 $ 8,512 $ 8,222
Earnings per common share      
Earnings per common share - basic (USD per share) $ 6.55 $ 5.26 $ 4.81
Earnings per common share - diluted (USD per share) $ 6.46 $ 5.19 $ 4.73
Average common shares outstanding      
Basic (shares) 1,603 1,617 1,708
Diluted (shares) 1,624 1,640 1,738