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Segment, Geographic and Revenue Information (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Schedule of Selected Financial Information by Business Segment
Selected Financial Information by Business Segment
 2021
$ in millionsISWMIMI/ETotal
Investment banking$10,272 $822 $ $(100)$10,994 
Trading12,353 418 (53)92 12,810 
Investments607 48 721  1,376 
Commissions and fees1
2,878 3,019 1 (377)5,521 
Asset management1, 2
583 13,966 5,576 (158)19,967 
Other495 577 (20)(10)1,042 
Total non-interest revenues27,188 18,850 6,225 (553)51,710 
Interest income3,752 5,821 31 (193)9,411 
Interest expense1,107 428 36 (205)1,366 
Net interest2,645 5,393 (5)12 8,045 
Net revenues$29,833 $24,243 $6,220 $(541)$59,755 
Provision for credit losses$(7)$11 $ $ $4 
Compensation and benefits9,165 13,090 2,373  24,628 
Non-compensation expenses8,861 4,961 2,169 (536)15,455 
Total non-interest expenses$18,026 $18,051 $4,542 $(536)$40,083 
Income before provision for income taxes$11,814 $6,181 $1,678 $(5)$19,668 
Provision for income taxes2,746 1,447 356 (1)4,548 
Net income9,068 4,734 1,322 (4)15,120 
Net income applicable to noncontrolling interests
111  (25) 86 
Net income applicable to Morgan Stanley
$8,957 $4,734 $1,347 $(4)$15,034 
 2020
$ in millionsISWMIMI/ETotal
Investment banking$7,204 $559 $— $(89)$7,674 
Trading3
13,097 844 (34)76 13,983 
Investments166 12 808 — 986 
Commissions and fees1
2,935 2,291 (376)4,851 
Asset management1, 2
461 10,955 3,013 (157)14,272 
Other3
323 403 (39)(9)678 
Total non-interest revenues
24,186 15,064 3,749 (555)42,444 
Interest income5,809 4,771 14 (432)10,162 
Interest expense3,519 749 29 (448)3,849 
Net interest2,290 4,022 (15)16 6,313 
Net revenues3
$26,476 $19,086 $3,734 $(539)$48,757 
Provision for credit losses3
$731 $30 $— $— $761 
Compensation and benefits8,342 10,970 1,542 — 20,854 
Non-compensation expenses3
8,252 3,699 1,322 (549)12,724 
Total non-interest expenses3
$16,594 $14,669 $2,864 $(549)$33,578 
Income before provision for income taxes$9,151 $4,387 $870 $10 $14,418 
Provision for income taxes2,040 1,026 171 3,239 
Net income7,111 3,361 699 11,179 
Net income applicable to noncontrolling interests
99 — 84 — 183 
Net income applicable to Morgan Stanley
$7,012 $3,361 $615 $$10,996 
 2019
$ in millionsISWMIMI/ETotal
Investment banking$5,734 $509 $— $(80)$6,163 
Trading3
10,497 734 (8)51 11,274 
Investments325 1,213 — 1,540 
Commissions and fees1
2,484 1,726 (292)3,919 
Asset management1,2
413 10,199 2,629 (158)13,083 
Other3
563 354 (46)(6)865 
Total non-interest revenues
20,016 13,524 3,789 (485)36,844 
Interest income12,193 5,467 20 (582)17,098 
Interest expense11,713 1,245 46 (600)12,404 
Net interest480 4,222 (26)18 4,694 
Net revenues3
$20,496 $17,746 $3,763 $(467)$41,538 
Provision for credit losses3
$151 $10 $— $— $161 
Compensation and benefits7,433 9,774 1,630 — 18,837 
Non-compensation expenses3
7,422 3,130 1,148 (461)11,239 
Total non-interest expenses3
$14,855 $12,904 $2,778 $(461)$30,076 
Income before provision for income taxes4
$5,490 $4,832 $985 $(6)$11,301 
Provision for income taxes769 1,104 193 (2)2,064 
Net income4,721 3,728 792 (4)9,237 
Net income applicable to noncontrolling interests
122 — 73 — 195 
Net income applicable to Morgan Stanley
$4,599 $3,728 $719 $(4)$9,042 
I/E–Intersegment Eliminations
1.Substantially all revenues are from contracts with customers.
2.Includes certain fees that may relate to services performed in prior periods.
3.Certain prior period amounts have been reclassified to conform to the current presentation. See Note 1 for additional information.
4.The fourth quarter of 2019 included specific severance-related costs of approximately $172 million, which are included in Compensation and benefits expenses in the Income statement. These costs were recorded in the business segments approximately as follows: Institutional Securities $124 million, Wealth Management $37 million and Investment Management $11 million.
Schedule of Detail of Investment Banking Revenues
Detail of Investment Banking Revenues
$ in millions202120202019
Institutional Securities—Advisory$3,487 $2,008 $2,116 
Institutional Securities—Underwriting6,785 5,196 3,618 
Firm Investment banking revenues from contracts with customers91 %92 %90 %
Schedule of Trading Revenues by Product Type
Trading Revenues by Product Type1
$ in millions202120202019
Interest rate$740 $2,978 $2,773 
Foreign exchange1,008 902 395 
Equity2
7,331 6,200 5,246 
Commodity and other2,599 1,762 1,617 
Credit1,132 2,141 1,243 
Total$12,810 $13,983 $11,274 
1.Certain prior period amounts have been reclassified to conform to the current presentation. See Note 1 for additional information.
2.Dividend income is included within equity contracts.
Schedule of Net Cumulative Unrealized Carried Interest and Reduction of Fees due to Fee Waivers
Investment Management Investments Revenues—Net Cumulative Unrealized Carried Interest
$ in millionsAt
December 31,
2021
At
December 31,
2020
Net cumulative unrealized performance-based fees at risk of reversing
$802 $735 
Investment Management Asset Management Revenues—Reduction of Fees Due to Fee Waivers
$ in millions202120202019
Fee waivers$516 $135 $43 
Schedule of Other Expenses - Transaction Taxes
Other ExpensesTransaction Taxes
$ in millions202120202019
Transaction taxes$969 $699 $489 
Schedule of Net Revenues by Region
Net Revenues by Region1
$ in millions202120202019
Americas$44,605 $35,459 $30,324 
EMEA7,699 6,549 6,078 
Asia7,451 6,749 5,136 
Total$59,755 $48,757 $41,538 
1.Certain prior period amounts have been reclassified to conform to the current presentation. See Note 1 for additional information.
Schedule of Income from Continuing Operations before Income Tax Expense (Benefit)
Income before Provision for Income Taxes
$ in millions202120202019
U.S.$14,082 $10,027 $9,464 
Non-U.S.1
5,586 4,391 1,837 
Total$19,668 $14,418 $11,301 
1.Non-U.S. income is defined as income generated from operations located outside the U.S.
Schedule of Revenue Recognized from Prior Services
Revenues Recognized from Prior Services
$ in millions202120202019
Non-interest revenues
$2,391 $2,298 $2,705 
Schedule of Receivables from Contracts with Customers
Receivables from Contracts with Customers
$ in millionsAt
December 31,
2021
At
December 31,
2020
Customer and other receivables$3,591 $3,200 
Schedule of Assets by Business Segment
Assets by Business Segment
$ in millionsAt
December 31,
2021
At
December 31,
2020
Institutional Securities$792,135 $753,322 
Wealth Management378,438 355,595 
Investment Management17,567 6,945 
Total1
$1,188,140 $1,115,862 
1. Parent assets have been fully allocated to the business segments.
Schedule of Total Assets by Region
Total Assets by Region
$ in millionsAt
December 31,
2021
At
December 31,
2020
Americas$848,001 $815,048 
EMEA204,083 194,598 
Asia136,056 106,216 
Total$1,188,140 $1,115,862