Segment and Geographic Information

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segment And Geographic Information

19.Segment and Geographic Information

Segment Information

For a discussion about the Firm’s business segments, see Note 21 to the financial statements in the 2017 Form 10-K.

Selected Financial Information by Business Segment
		Three Months Ended March 31, 2018
$ in millions		IS		WM		IM		I/E		Total
Total non-interest
revenues	$	6,195	$	3,305	$	718	$	(116)	$	10,102
Interest income		1,804		1,280		1		(225)		2,860
Interest expense		1,899		211		1		(226)		1,885
Net interest		(95)		1,069		—		1		975
Net revenues	$	6,100	$	4,374	$	718	$	(115)	$	11,077
Income from continuing
operations before
income taxes	$	2,112	$	1,160	$	148	$	—	$	3,420
Provision for income taxes		449		246		19		—		714
Income from continuing
operations		1,663		914		129		—		2,706
Income (loss) from
discontinued operations,
net of income taxes		(2)		—		—		—		(2)
Net income		1,661		914		129		—		2,704
Net income applicable to
noncontrolling interests		34		—		2		—		36
Net income applicable to
Morgan Stanley	$	1,627	$	914	$	127	$	—	$	2,668

		Three Months Ended March 31, 2017
$ in millions		IS		WM		IM		I/E		Total
Total non-interest
revenues	$	5,379	$	3,064	$	608	$	(77)	$	8,974
Interest income		1,124		1,079		1		(239)		1,965
Interest expense		1,351		85		—		(242)		1,194
Net interest		(227)		994		1		3		771
Net revenues	$	5,152	$	4,058	$	609	$	(74)	$	9,745
Income from continuing
operations before
income taxes	$	1,730	$	973	$	103	$	2	$	2,808
Provision for income taxes		459		326		30		—		815
Income from continuing
operations		1,271		647		73		2		1,993
Income (loss) from
discontinued operations,
net of income taxes		(22)		—		—		—		(22)
Net income		1,249		647		73		2		1,971
Net income applicable to
noncontrolling interests		35		—		6		—		41
Net income applicable to
Morgan Stanley	$	1,214	$	647	$	67	$	2	$	1,930

I/E–Intersegment Eliminations

Total Assets by Business Segment
		At		At
		March 31,		December 31,
$ in millions		2018		2017
Institutional Securities	$	674,785	$	664,974
Wealth Management		177,603		182,009
Investment Management		6,107		4,750
Total1	$	858,495	$	851,733

• Parent assets have been fully allocated to the business segments.

Additional Information – Investment Management

Net Unrealized Performance-based Fees
		At		At
		March 31,		December 31,
$ in millions		2018		2017
Net cumulative unrealized
performance-based fees
at risk of reversing	$	441	$	442

The Firm’s portion of net cumulative unrealized performance-based fees (for which the Firm is not obligated to pay compensation) are at risk of reversing if the fund performance falls below the stated investment management agreement benchmarks. See Note 11 for information regarding general partner guarantees, which include potential obligations to return performance fee distributions previously received.

Reduction of Fees due to Fee Waivers
		Three Months Ended March 31,
$ in millions		2018		2017
Fee waivers	$	18	$	23

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.

Geographic Information

For a discussion about the Firm’s geographic net revenues, see Note 21 to the financial statements in the 2017 Form 10-K.

Net Revenues by Region
	Three Months Ended
$ in millions	March 31, 2018		March 31, 2017
Americas	$	8,018	$	7,088
EMEA		1,708		1,489
Asia		1,351		1,168
Total	$	11,077	$	9,745