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Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Investment banking $ 1,590 $ 1,793 $ 2,832 $ 3,427
Trading 2,732 3,293 6,173 7,063
Investments 441 147 714 273
Commissions and fees 979 1,039 1,945 2,212
Asset management 3,220 3,189 6,269 6,381
Other 253 243 554 450
Total non-interest revenues 9,215 9,704 18,487 19,806
Interest income 4,506 3,294 8,796 6,154
Interest expense 3,477 2,388 6,753 4,273
Net interest 1,029 906 2,043 1,881
Net revenues 10,244 10,610 20,530 21,687
Non-interest expenses        
Compensation and benefits 4,531 4,621 9,182 9,535
Occupancy and equipment 353 346 700 682
Brokerage, clearing and exchange fees 630 609 1,223 1,236
Information processing and communications 538 496 1,070 974
Marketing and business development 162 179 303 319
Professional services 537 580 1,051 1,090
Other 590 670 1,143 1,322
Total non-interest expenses 7,341 7,501 14,672 15,158
Income from continuing operations before income taxes 2,903 3,109 5,858 6,529
Provision for income taxes 657 640 1,144 1,354
Income from continuing operations 2,246 2,469 4,714 5,175
Income (loss) from discontinued operations, net of income taxes 0 (2) 0 (4)
Net income 2,246 2,467 4,714 5,171
Net income applicable to noncontrolling interests 45 30 84 66
Net income applicable to Morgan Stanley 2,201 2,437 4,630 5,105
Preferred stock dividends and other 170 170 263 263
Earnings applicable to Morgan Stanley common shareholders $ 2,031 $ 2,267 $ 4,367 $ 4,842
Earnings per common share        
Basic (USD per share) $ 1.24 $ 1.32 $ 2.65 $ 2.80
Diluted (USD per share) $ 1.23 $ 1.30 $ 2.62 $ 2.75
Average common shares outstanding        
Basic (shares) 1,634 1,720 1,646 1,730
Diluted (shares) 1,655 1,748 1,666 1,760