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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Investment banking $ 1,589 $ 1,330
Trading 4,852 4,477
Investments 137 145
Commissions and fees 1,227 1,239
Asset management 5,269 4,728
Other 266 252
Total non-interest revenues 13,340 12,171
Interest income [1] 12,930 9,980
Interest expense [1] 11,134 7,634
Net interest 1,796 2,346
Net revenues 15,136 14,517
Provision for credit losses (6) 234
Non-interest expenses    
Compensation and benefits 6,696 6,410
Brokerage, clearing and exchange fees 921 881
Information processing and communications 976 915
Professional services 639 710
Occupancy and equipment 441 440
Marketing and business development 217 247
Other 857 920
Total non-interest expenses 10,747 10,523
Income before provision for income taxes 4,395 3,760
Provision for income taxes 933 727
Net income 3,462 3,033
Net income applicable to noncontrolling interests 50 53
Net income applicable to Morgan Stanley 3,412 2,980
Preferred stock dividends 146 144
Earnings applicable to Morgan Stanley common shareholders $ 3,266 $ 2,836
Earnings per common share    
Basic (USD per share) $ 2.04 $ 1.72
Diluted (USD per share) $ 2.02 $ 1.70
Average common shares outstanding    
Basic (shares) 1,601 1,645
Diluted (shares) 1,616 1,663
[1] Prior period amounts have been adjusted to conform with the current period presentation. See Note 2 for additional information.