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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Investment banking $ 1,373 $ 3,013 $ 4,281 $ 8,413
Trading 3,331 2,861 10,911 10,416
Investments (168) 45 (70) 744
Commissions and fees 1,133 1,280 3,769 4,214
Asset management 4,744 5,201 14,775 14,572
Other 63 290 245 916
Total non-interest revenues 10,476 12,690 33,911 39,275
Interest income 6,101 2,351 12,363 7,000
Interest expense 3,591 288 5,355 1,044
Net interest 2,510 2,063 7,008 5,956
Net revenues 12,986 14,753 40,919 45,231
Provision for credit losses 35 24 193 (1)
Non-interest expenses        
Compensation and benefits 5,614 5,920 17,438 19,141
Brokerage, clearing and exchange fees 847 825 2,607 2,530
Information processing and communications 874 788 2,560 2,286
Professional services 755 734 2,217 2,104
Occupancy and equipment 429 427 1,286 1,246
Marketing and business development 215 146 610 438
Other 829 1,015 2,713 2,703
Total non-interest expenses 9,563 9,855 29,431 30,448
Income before provision for income taxes 3,388 4,874 11,295 14,784
Provision for income taxes 726 1,150 2,382 3,380
Net income 2,662 3,724 8,913 11,404
Net income applicable to noncontrolling interests 30 17 120 66
Net income applicable to Morgan Stanley 2,632 3,707 8,793 11,338
Preferred stock dividends 138 123 366 364
Earnings applicable to Morgan Stanley common shareholders $ 2,494 $ 3,584 $ 8,427 $ 10,974
Earnings per common share        
Basic (USD per share) $ 1.49 $ 2.01 $ 4.95 $ 6.11
Diluted (USD per share) $ 1.47 $ 1.98 $ 4.88 $ 6.02
Average common shares outstanding        
Basic (shares) 1,674 1,781 1,704 1,797
Diluted (shares) 1,697 1,812 1,725 1,824