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Consolidated Income Statements (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Investment banking $ 2,840 $ 1,271
Trading 4,225 2,801
Investments 318 38
Commissions and fees 1,626 1,360
Asset management 4,398 3,417
Other 284 (464)
Total non-interest revenues 13,691 8,423
Interest income 2,437 3,503
Interest expense 409 2,147
Net interest 2,028 1,356
Net revenues 15,719 9,779
Provision for credit losses (98) 407
Non-interest expenses    
Compensation and benefits 6,798 4,283
Brokerage, clearing and exchange fees 910 740
Information processing and communications 733 563
Professional services 624 449
Occupancy and equipment 405 365
Marketing and business development 146 132
Other 857 694
Total non-interest expenses 10,473 7,226
Income before provision for income taxes 5,344 2,146
Provision for income taxes 1,176 366
Net income 4,168 1,780
Net income applicable to noncontrolling interests 48 82
Net income applicable to Morgan Stanley 4,120 1,698
Preferred stock dividends 138 108
Earnings applicable to Morgan Stanley common shareholders $ 3,982 $ 1,590
Earnings per common share    
Basic (USD per share) $ 2.22 $ 1.02
Diluted (USD per share) $ 2.19 $ 1.01
Average common shares outstanding    
Basic (shares) 1,795,000 1,555,000
Diluted (shares) 1,818,000 1,573,000