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Segment, Geographic and Revenue Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment, Geographic and Revenue Information Segment, Geographic and Revenue Information
Selected Financial Information by Business Segment
 Three Months Ended June 30, 2024
$ in millionsISWMIMI/ETotal
Investment banking$1,619 $150 $— $(34)$1,735 
Trading4,047 76 (3)11 4,131 
Investments54 24 79 — 157 
Commissions and fees1
684 556 — (57)1,183 
Asset management1,2
160 3,989 1,342 (67)5,424 
Other120 199 4 (1)322 
Total non-interest revenues6,684 4,994 1,422 (148)12,952 
Interest income9,911 4,026 27 (435)13,529 
Interest expense9,613 2,228 63 (442)11,462 
Net interest298 1,798 (36)7 2,067 
Net revenues$6,982 $6,792 $1,386 $(141)$15,019 
Provision for credit losses$54 $22 $— $— $76 
Compensation and benefits2,291 3,601 568 — 6,460 
Non-compensation expenses2,591 1,348 596 (126)4,409 
Total non-interest expenses$4,882 $4,949 $1,164 $(126)$10,869 
Income before provision for income taxes$2,046 $1,821 $222 $(15)$4,074 
Provision for income taxes486 418 56 (3)957 
Net income1,560 1,403 166 (12)3,117 
Net income applicable to noncontrolling interests40 — 1 — 41 
Net income applicable to Morgan Stanley$1,520 $1,403 $165 $(12)$3,076 
 Three Months Ended June 30, 2023
$ in millionsISWMIMI/ETotal
Investment banking$1,075 $109 $— $(29)$1,155 
Trading3,594 208 (10)10 3,802 
Investments23 22 50 — 95 
Commissions and fees1
605 552 — (67)1,090 
Asset management1,2
150 3,452 1,268 (53)4,817 
Other325 161 5 (3)488 
Total non-interest revenues5,772 4,504 1,313 (142)11,447 
Interest income7,681 3,700 29 (497)10,913 
Interest expense7,799 1,544 61 (501)8,903 
Net interest(118)2,156 (32)4 2,010 
Net revenues$5,654 $6,660 $1,281 $(138)$13,457 
Provision for credit losses$97 $64 $— $— $161 
Compensation and benefits2,215 3,503 544 — 6,262 
Non-compensation expenses2,365 1,412 567 (122)4,222 
Total non-interest expenses$4,580 $4,915 $1,111 $(122)$10,484 
Income before provision for income taxes$977 $1,681 $170 $(16)$2,812 
Provision for income taxes176 373 46 (4)591 
Net income801 1,308 124 (12)2,221 
Net income applicable to noncontrolling interests42 — (3)— 39 
Net income applicable to Morgan Stanley$759 $1,308 $127 $(12)$2,182 

 Six Months Ended June 30, 2024
$ in millionsISWMIMI/ETotal
Investment banking$3,066 $316 $— $(58)$3,324 
Trading8,630 338 (10)25 8,983 
Investments103 43 148 — 294 
Commissions and fees1
1,375 1,161 — (126)2,410 
Asset management1,2
317 7,818 2,688 (130)10,693 
Other244 342 7 (5)588 
Total non-interest revenues13,735 10,018 2,833 (294)26,292 
Interest income19,219 7,999 53 (812)26,459 
Interest expense18,956 4,345 123 (828)22,596 
Net interest263 3,654 (70)16 3,863 
Net revenues$13,998 $13,672 $2,763 $(278)$30,155 
Provision for credit losses$56 $14 $— $— $70 
Compensation and benefits4,634 7,389 1,133 — 13,156 
Non-compensation expenses4,911 2,642 1,167 (260)8,460 
Total non-interest expenses$9,545 $10,031 $2,300 $(260)$21,616 
Income before provision for income taxes$4,397 $3,627 $463 $(18)$8,469 
Provision for income taxes968 821 105 (4)1,890 
Net income3,429 2,806 358 (14)6,579 
Net income applicable to noncontrolling interests90 — 1 — 91 
Net income applicable to Morgan Stanley$3,339 $2,806 $357 $(14)$6,488 
 Six Months Ended June 30, 2023
$ in millionsISWMIMI/ETotal
Investment banking$2,322 $213 $— $(50)$2,485 
Trading7,851 435 (26)19 8,279 
Investments51 38 151 — 240 
Commissions and fees1
1,319 1,142 — (132)2,329 
Asset management1,2
298 6,834 2,516 (103)9,545 
Other505 243 (1)(7)740 
Total non-interest revenues12,346 8,905 2,640 (273)23,618 
Interest income3
14,549 7,327 58 (1,041)20,893 
Interest expense3
14,444 3,013 128 (1,048)16,537 
Net interest105 4,314 (70)7 4,356 
Net revenues$12,451 $13,219 $2,570 $(266)$27,974 
Provision for credit losses$286 $109 $— $— $395 
Compensation and benefits4,580 6,980 1,112 — 12,672 
Non-compensation expenses4,716 2,737 1,122 (240)8,335 
Total non-interest expenses$9,296 $9,717 $2,234 $(240)$21,007 
Income before provision for income taxes$2,869 $3,393 $336 $(26)$6,572 
Provision for income taxes539 709 76 (6)1,318 
Net income2,330 2,684 260 (20)5,254 
Net income applicable to noncontrolling interests93 — (1)— 92 
Net income applicable to Morgan Stanley$2,237 $2,684 $261 $(20)$5,162 
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 adjusted to conform with the current period presentation. This adjustment resulted in a decrease to both interest income and interest expense of $1,135 million and $2,025 million for the three months and six months ended, June 30, 2023, respectively. There was no change to net interest income for Institutional Securities segment. See Note 2 for additional information.
For a discussion about the Firm’s business segments, see Note 22 to the financial statements in the 2023 Form 10-K.
Detail of Investment Banking Revenues
 Three Months Ended
June 30,		Six Months Ended
June 30,
$ in millions2024202320242023
Institutional Securities Advisory$592 $455 $1,053 $1,093 
Institutional Securities Underwriting1,027 620 2,013 1,229 
Firm Investment banking revenues from contracts with customers87 %92 %89 %91 %
Trading Revenues by Product Type
 Three Months Ended
June 30,		Six Months Ended
June 30,
$ in millions2024202320242023
Interest rate$1,495 $1,209 $3,321 $2,577 
Foreign exchange269 126 541 388 
Equity1
2,323 2,403 4,627 4,615 
Commodity and other481 335 1,076 874 
Credit(437)(271)(582)(175)
Total$4,131 $3,802 $8,983 $8,279 
1.Dividend income is included within equity contracts.
The previous table summarizes realized and unrealized gains and losses primarily related to the Firm’s Trading assets and
liabilities, from derivative and non-derivative financial instruments, included in Trading revenues in the income statement. The Firm generally utilizes financial instruments across a variety of product types in connection with its market-making and related risk management strategies. The trading revenues presented in the table are not representative of the manner in which the Firm manages its business activities and are prepared in a manner similar to the presentation of trading revenues for regulatory reporting purposes.
Investment Management Investments Revenues—Net Cumulative Unrealized Carried Interest
$ in millionsAt
June 30,
2024 		At
December 31,
2023
Net cumulative unrealized performance-based fees at risk of reversing$799 $787 
The Firm’s portion of net cumulative performance-based fees in the form of unrealized carried interest, for which the Firm is not obligated to pay compensation, is at risk of reversing when the return in certain funds fall below specified performance targets. See Note 13 for information regarding general partner guarantees, which include potential obligations to return performance fee distributions previously received.
Investment Management Asset Management Revenues—Reduction of Fees Due to Fee Waivers
 Three Months Ended
June 30,		Six Months Ended
June 30,
$ in millions2024202320242023
Fee waivers$25 $28 $46 $46 
The Firm waives a portion of its fees in the Investment Management business segment from certain registered money market funds that comply with the requirements of Rule 2a-7 of the Investment Company Act of 1940.
Certain Other Fee Waivers
Separately, the Firm’s employees, including its senior officers, may participate on the same terms and conditions as other investors in certain funds that the Firm sponsors primarily for client investment, and the Firm may waive or lower applicable fees and charges for its employees.
Other Expenses—Transaction Taxes
Three Months Ended
June 30,		Six Months Ended
June 30,
$ in millions2024202320242023
Transaction taxes$235 $247 $441 $461 
Transaction taxes are composed of securities transaction taxes and stamp duties, which are levied on the sale or purchase of securities listed on recognized stock exchanges in certain markets. These taxes are imposed mainly on trades of equity securities in Asia and EMEA. Similar transaction taxes are
levied on trades of listed derivative instruments in certain countries.
Net Revenues by Region
 Three Months Ended
June 30,		Six Months Ended
June 30,
$ in millions2024202320242023
Americas$11,268 $10,394 $22,835 $21,185 
EMEA1,871 1,500 3,697 3,237 
Asia1,880 1,563 3,623 3,552 
Total$15,019 $13,457 $30,155 $27,974 
For a discussion about the Firm’s geographic net revenues, see Note 22 to the financial statements in the 2023 Form 10-K.
Revenues Recognized from Prior Services
 Three Months Ended
June 30,		Six Months Ended
June 30,
$ in millions2024202320242023
Non-interest revenues$549 $469 $984 $1,060 
The previous table includes revenues from contracts with customers recognized where some or all services were performed in prior periods. These revenues primarily include investment banking advisory fees.
Receivables from Contracts with Customers
$ in millionsAt
June 30,
2024 		At
December 31,
2023
Customer and other receivables$2,569 $2,339 
Receivables from contracts with customers, which are included within Customer and other receivables in the balance sheet, arise when the Firm has both recorded revenues and the right per the contract to bill the customer.
Assets by Business Segment
$ in millionsAt
June 30,
2024 		At
December 31,
2023
Institutional Securities$824,972 $810,506 
Wealth Management369,735 365,168 
Investment Management17,740 18,019 
Total1
$1,212,447 $1,193,693 
1. Parent assets have been fully allocated to the business segments.