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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Investment banking $ 1,150 $ 2,560 $ 2,908 $ 5,400
Trading 3,597 3,330 7,580 7,555
Investments 23 381 98 699
Commissions and fees 1,220 1,308 2,636 2,934
Asset management 4,912 4,973 10,031 9,371
Other (52) 342 182 626
Total non-interest revenues 10,850 12,894 23,435 26,585
Interest income 3,612 2,212 6,262 4,649
Interest expense 1,330 347 1,764 756
Net interest 2,282 1,865 4,498 3,893
Net revenues 13,132 14,759 27,933 30,478
Provision for credit losses 101 73 158 (25)
Non-interest expenses        
Compensation and benefits 5,550 6,423 11,824 13,221
Brokerage, clearing and exchange fees 878 795 1,760 1,705
Information processing and communications 857 765 1,686 1,498
Professional services 757 746 1,462 1,370
Occupancy and equipment 430 414 857 819
Marketing and business development 220 146 395 292
Other 1,020 831 1,884 1,688
Total non-interest expenses 9,712 10,120 19,868 20,593
Income before provision for income taxes 3,319 4,566 7,907 9,910
Provision for income taxes 783 1,054 1,656 2,230
Net income 2,536 3,512 6,251 7,680
Net income applicable to noncontrolling interests 41 1 90 49
Net income applicable to Morgan Stanley 2,495 3,511 6,161 7,631
Preferred stock dividends 104 103 228 241
Earnings applicable to Morgan Stanley common shareholders $ 2,391 $ 3,408 $ 5,933 $ 7,390
Earnings per common share        
Basic (USD per share) $ 1.40 $ 1.88 $ 3.45 $ 4.10
Diluted (USD per share) $ 1.39 $ 1.85 $ 3.41 $ 4.04
Average common shares outstanding        
Basic (shares) 1,704 1,814 1,718 1,804
Diluted (shares) 1,723 1,841 1,739 1,829