Customer Contract Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenues from Contracts with Customers

Customer Contract Revenue by Business Segment
		Three Months Ended March 31, 2018
$ in millions		IS		WM		IM		I/E		Total
Investment banking1	$	1,308	$	140	$	—	$	(19)	$	1,429
Commissions and fees		744		498		—		(69)		1,173
Asset management		110		2,495		626		(39)		3,192
Other customer contract
revenues2		59		59		—		(2)		116
Total revenues from contracts
with customers3	$	2,221	$	3,192	$	626	$	(129)	$	5,910

• Investment banking includes revenues from underwriting equity and fixed income securities and advisory fees.
• Includes Trading and Other revenues from contracts with customers.
• Includes $902 million in total consolidated revenue recognized in the current quarter from services performed over multiple periods related primarily to investment banking advisory fees, and distribution fees.

Customer Contract Revenue by Region
	Three Months Ended
$ in millions	March 31, 2018
Americas	$	4,738
EMEA		622
Asia		550
Total	$	5,910

Change in Revenue as a Result of Application of the New Revenue Recognition Standard

Change in Revenue as a Result of Application of the New
Revenue Recognition Standard1
	Three Months Ended
$ in millions	March 31, 2018
Investment banking2	$	60
Commissions and fees		2
Asset management		9
Other customer contract revenues		12
Total change	$	83

• The accounting update requires, among other things, a gross presentation of certain costs that were previously netted against revenues. As a result, the Firm recorded an increase to net revenues and noncompensation expenses of $79 million, which was reported as follows: $72 million in the Institutional Securities business segment; $23 million in the Investment Management business segment; and $(16) million in Intersegment Eliminations related to intersegment activity.
• The effect of changing to a gross presentation on advisory fees and total underwriting fees within the Institutional Securities business segment in the current quarter was $15 million and $45 million, respectively.

Contract with Customer, Asset and Liability

Balance Sheet Amounts Related to Customer Contracts Revenue

	At		At
	March 31,		January 1,
$ in millions	2018		2018
Customer and other receivables	$	2,697	$	2,805

Other Liabilities—Contract Liabilities Rollforward
	Three Months Ended
$ in millions	March 31, 2018
January 1, 2018	$	155
Recognized contract liabilities		184
Contract liabilities recognized into revenue		(160)
March 31, 2018	$	179

Future Expected Revenues

Certain Future Expected Revenues

	At March 31, 2018
$ in millions	2018		2019		2020		Thereafter		Total
Other customer
contract revenues1	$	89	$	118	$	95	$	310	$	612

• Primarily includes commodities-related contracts with customers.