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Morgan Stanley – ‘10-K’ for 12/31/18 – ‘R53’

On:  Tuesday, 2/26/19, at 4:12pm ET   ·   For:  12/31/18   ·   Accession #:  1193125-19-51943   ·   File #:  1-11758

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/26/19  Morgan Stanley                    10-K       12/31/18  188:49M                                    Donnelley … Solutions/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   3.85M 
 4: EX-10.24    Material Contract                                   HTML     56K 
 5: EX-10.30    Material Contract                                   HTML    169K 
 2: EX-10.4     Material Contract                                   HTML     69K 
 3: EX-10.6     Material Contract                                   HTML    118K 
 6: EX-21       Subsidiaries List                                   HTML     60K 
 7: EX-23.1     Consent of Experts or Counsel                       HTML     64K 
 8: EX-31.1     Certification -- §302 - SOA'02                      HTML     58K 
 9: EX-31.2     Certification -- §302 - SOA'02                      HTML     58K 
10: EX-32.1     Certification -- §906 - SOA'02                      HTML     53K 
11: EX-32.2     Certification -- §906 - SOA'02                      HTML     53K 
18: R1          Document and Entity Information                     HTML     82K 
19: R2          Consolidated Income Statements                      HTML    163K 
20: R3          Consolidated Comprehensive Income Statements        HTML     83K 
21: R4          Consolidated Balance Sheets                         HTML    152K 
22: R5          Consolidated Balance Sheets (Parenthetical)         HTML     82K 
23: R6          Consolidated Statements of Changes in Total Equity  HTML    109K 
24: R7          Consolidated Statements of Changes in Total Equity  HTML     58K 
                (Parenthetical)                                                  
25: R8          Consolidated Cash Flow Statements                   HTML    164K 
26: R9          Introduction and Basis of Presentation              HTML     74K 
27: R10         Significant Accounting Policies                     HTML    198K 
28: R11         Fair Value Disclosures                              HTML   1.28M 
29: R12         Derivative Instruments and Hedging Activities       HTML    530K 
30: R13         Investment Securities                               HTML    502K 
31: R14         Collateralized Transactions                         HTML    283K 
32: R15         Loans, Lending Commitments and Allowance for        HTML    421K 
                Credit Losses                                                    
33: R16         Equity Method Investments                           HTML     70K 
34: R17         Goodwill and Intangible Assets                      HTML    152K 
35: R18         Deposits                                            HTML     77K 
36: R19         Borrowings and Other Secured Financings             HTML    220K 
37: R20         Commitments, Guarantees and Contingencies           HTML    262K 
38: R21         Variable Interest Entities and Securitization       HTML    382K 
                Activities                                                       
39: R22         Regulatory Requirements                             HTML    221K 
40: R23         Total Equity                                        HTML    379K 
41: R24         Earnings per Common Share                           HTML    119K 
42: R25         Interest Income and Interest Expense                HTML     90K 
43: R26         Deferred Compensation Plans                         HTML    176K 
44: R27         Employee Benefit Plans                              HTML    391K 
45: R28         Income Taxes                                        HTML    215K 
46: R29         Segment, Geographic and Revenue Information         HTML    426K 
47: R30         Parent Company                                      HTML    291K 
48: R31         Quarterly Results                                   HTML    251K 
49: R32         Subsequent Events                                   HTML     56K 
50: R33         Significant Accounting Policies (Policy)            HTML    247K 
51: R34         Significant Accounting Policies (Tables)            HTML     60K 
52: R35         Fair Value Disclosures (Tables)                     HTML   1.21M 
53: R36         Derivative Instruments and Hedging Activities       HTML    529K 
                (Tables)                                                         
54: R37         Investment Securities (Tables)                      HTML    505K 
55: R38         Collateralized Transactions (Tables)                HTML    280K 
56: R39         Loans, Lending Commitments and Allowance for        HTML    416K 
                Credit Losses (Tables)                                           
57: R40         Equity Method Investments (Tables)                  HTML     69K 
58: R41         Goodwill and Intangible Assets (Tables)             HTML    156K 
59: R42         Deposits (Tables)                                   HTML     77K 
60: R43         Borrowings and Other Secured Financings (Tables)    HTML    222K 
61: R44         Commitments, Guarantees and Contingencies (Tables)  HTML    215K 
62: R45         Variable Interest Entities and Securitization       HTML    357K 
                Activities (Tables)                                              
63: R46         Regulatory Requirements (Tables)                    HTML    208K 
64: R47         Total Equity (Tables)                               HTML    381K 
65: R48         Earnings per Common Share (Tables)                  HTML    119K 
66: R49         Interest Income and Interest Expense (Tables)       HTML     88K 
67: R50         Deferred Compensation Plans (Tables)                HTML    189K 
68: R51         Employee Benefit Plans (Tables)                     HTML    396K 
69: R52         Income Taxes (Tables)                               HTML    216K 
70: R53         Segment, Geographic and Revenue Information         HTML    433K 
                (Tables)                                                         
71: R54         Parent Company (Tables)                             HTML    289K 
72: R55         Quarterly Results (Tables)                          HTML    253K 
73: R56         Significant Accounting Policies (Details)           HTML     88K 
74: R57         Fair Value Disclosures (Assets and Liabilities      HTML    219K 
                Measured at Fair Value on a Recurring Basis)                     
                (Details)                                                        
75: R58         Fair Value Disclosures (Rollforward of Level 3      HTML    185K 
                Assets and Liabilities Measured at Fair Value on a               
                Recurring Basis) (Details)                                       
76: R59         Fair Value Disclosures (Valuation Techniques and    HTML    366K 
                Sensitivity of Unobservable Inputs Used in Level 3               
                Fair Value Measurements) (Details)                               
77: R60         Fair Value Disclosures (Fund Interests Measured     HTML     76K 
                Based on Net Asset Value) (Details)                              
78: R61         Fair Value Disclosures (Borrowings Measured at      HTML     69K 
                Fair Value on a Recurring Basis) (Details)                       
79: R62         Fair Value Disclosures (Earnings Impact of          HTML     61K 
                Borrowings under the Fair Value Option) (Details)                
80: R63         Fair Value Disclosures (Gains (Losses) Due to       HTML     73K 
                Changes in Instrument-Specific Credit Risk)                      
                (Details)                                                        
81: R64         Fair Value Disclosures (Excess of Contractual       HTML     59K 
                Principal Amount Over Fair Value) (Details)                      
82: R65         Fair Value Disclosures (Fair Value Loans on         HTML     57K 
                Nonaccrual Status) (Details)                                     
83: R66         Fair Value Disclosures (Assets and Liabilities      HTML     96K 
                Measured at Fair Value on a Nonrecurring Basis)                  
                (Details)                                                        
84: R67         Fair Value Disclosures (Financial Instruments Not   HTML    142K 
                Measured at Fair Value) (Details)                                
85: R68         Derivative Instruments and Hedging Activities       HTML    200K 
                (Derivative Fair Values) (Details)                               
86: R69         Derivative Instruments and Hedging Activities       HTML    123K 
                (Derivative Notionals) (Details)                                 
87: R70         Derivative Instruments and Hedging Activities       HTML     81K 
                (Gains (Losses) on Accounting Hedges and Fair                    
                Value Hedges) (Details)                                          
88: R71         Derivative Instruments and Hedging Activities       HTML     67K 
                (Credit Risk-Related Contingencies) (Details)                    
89: R72         Derivative Instruments and Hedging Activities       HTML    115K 
                (Maximum Potential Payout/Notional of Credit                     
                Protection Sold) (Details)                                       
90: R73         Derivative Instruments and Hedging Activities       HTML     72K 
                (Fair Value (Asset)/Liability of Credit Protection               
                Sold) (Details)                                                  
91: R74         Derivative Instruments and Hedging Activities       HTML     68K 
                (Protection Purchased with CDS) (Details)                        
92: R75         Investment Securities (AFS and HTM Securities)      HTML    150K 
                (Details)                                                        
93: R76         Investment Securities (Investment Securities in an  HTML    158K 
                Unrealized Loss Position) (Details)                              
94: R77         Investment Securities (Investment Securities by     HTML    223K 
                Contractual Maturity) (Details)                                  
95: R78         Investment Securities (Gross Realized Gains and     HTML     60K 
                Losses on Sales of AFS Securities) (Details)                     
96: R79         Collateralized Transactions (Offsetting of Certain  HTML    128K 
                Collateralized Transactions) (Details)                           
97: R80         Collateralized Transactions (Gross Secured          HTML     98K 
                Financing Balances) (Details)                                    
98: R81         Collateralized Transactions (Assets Loaned or       HTML     60K 
                Pledged) (Details)                                               
99: R82         Collateralized Transactions (Collateral Received)   HTML     57K 
                (Details)                                                        
100: R83         Collateralized Transactions (Restricted Cash and    HTML     61K  
                Segregated Securities) (Details)                                 
101: R84         Collateralized Transactions (Concentration Risk)    HTML     61K  
                (Details)                                                        
102: R85         Collateralized Transactions (Customer Margin        HTML     54K  
                Lending) (Details)                                               
103: R86         Loans, Lending Commitments and Allowance for        HTML    141K  
                Credit Losses (Loans by Type) (Details)                          
104: R87         Loans, Lending Commitments and Allowance for        HTML     89K  
                Credit Losses (Impaired Loans and Lending                        
                Commitments) (Details)                                           
105: R88         Loans, Lending Commitments and Allowance for        HTML     58K  
                Credit Losses (Tdr) (Details)                                    
106: R89         Loans, Lending Commitments and Allowance for        HTML    117K  
                Credit Losses (Allowance for Loan Losses and                     
                Lending Commitments Rollforward) (Details)                       
107: R90         Loans, Lending Commitments and Allowance for        HTML     64K  
                Credit Losses (Employee Loans) (Details)                         
108: R91         Equity Method Investments (Equity Method            HTML     66K  
                Investment Balances) (Details)                                   
109: R92         Equity Method Investments (Investees) (Details)     HTML     64K  
110: R93         Goodwill and Intangible Assets (Goodwill            HTML     77K  
                Rollforward) (Details)                                           
111: R94         Goodwill and Intangible Assets (Intangible Assets   HTML     69K  
                by Business Segment) (Details)                                   
112: R95         Goodwill and Intangible Assets (Gross Amortizable   HTML     84K  
                Intangible Assets by Type) (Details)                             
113: R96         Goodwill and Intangible Assets (Net Amortizable     HTML     75K  
                Intangible Assets Rollforward) (Details)                         
114: R97         Deposits (Details)                                  HTML     78K  
115: R98         Borrowings and Other Secured Financings             HTML    109K  
                (Maturities and Terms of Borrowings) (Details)                   
116: R99         Borrowings and Other Secured Financings (Long-Term  HTML     76K  
                Borrowings) (Details)                                            
117: R100        Borrowings and Other Secured Financings (Rates for  HTML     56K  
                Long-Term Borrowings) (Details)                                  
118: R101        Borrowings and Other Secured Financings (Other      HTML     61K  
                Secured Financings) (Details)                                    
119: R102        Borrowings and Other Secured Financings             HTML     96K  
                (Maturities and Terms of Secured Financings)                     
                (Details)                                                        
120: R103        Borrowings and Other Secured Financings (Failed     HTML     69K  
                Sales by Maturity) (Details)                                     
121: R104        Commitments, Guarantees and Contingencies           HTML     89K  
                (Commitments) (Details)                                          
122: R105        Commitments, Guarantees and Contingencies           HTML     78K  
                (Operating Premises Leases) (Details)                            
123: R106        Commitments, Guarantees and Contingencies           HTML    126K  
                (Obligations under Guarantee Arrangements)                       
                (Details)                                                        
124: R107        Commitments, Guarantees and Contingencies           HTML    118K  
                (Contingencies) (Details)                                        
125: R108        Variable Interest Entities and Securitization       HTML     65K  
                Activities (Assets and Liabilities by Type of                    
                Activity) (Details)                                              
126: R109        Variable Interest Entities and Securitization       HTML     90K  
                Activities (Assets and Liabilities by Balance                    
                Sheet Caption) (Details)                                         
127: R110        Variable Interest Entities and Securitization       HTML    131K  
                Activities (Non-Consolidated VIEs) (Details)                     
128: R111        Variable Interest Entities and Securitization       HTML    100K  
                Activities (Transfers of Assets with Continuing                  
                Involvement 1) (Details)                                         
129: R112        Variable Interest Entities and Securitization       HTML     85K  
                Activities (Transfers of Assets with Continuing                  
                Involvement 2) (Details)                                         
130: R113        Variable Interest Entities and Securitization       HTML     64K  
                Activities (Proceeds from New Securitization                     
                Transactions and Sales of Loans) (Details)                       
131: R114        Variable Interest Entities and Securitization       HTML     68K  
                Activities (Assets Sold with Retained Exposure)                  
                (Details)                                                        
132: R115        Regulatory Requirements (Narrative) (Details)       HTML     60K  
133: R116        Regulatory Requirements (Capital Measures)          HTML     97K  
                (Details)                                                        
134: R117        Regulatory Requirements (U.S. Bank Subsidiaries'    HTML    106K  
                Regulatory Capital and Capital Ratios) (Details)                 
135: R118        Regulatory Requirements (U.S. Broker-Dealer         HTML     62K  
                Regulatory Capital Requirements) (Details)                       
136: R119        Regulatory Requirements (Restricted Net Assets)     HTML     55K  
                (Details)                                                        
137: R120        Total Equity (Rollforward of Common Stock           HTML     62K  
                Outstanding) (Details)                                           
138: R121        Total Equity (Dividends and Share Repurchases)      HTML     79K  
                (Details)                                                        
139: R122        Total Equity (Preferred Stock Outstanding)          HTML    103K  
                (Details)                                                        
140: R123        Total Equity (Preferred Stock Issuance              HTML     92K  
                Description) (Details)                                           
141: R124        Total Equity (Preferred Stock Dividends) (Details)  HTML     83K  
142: R125        Total Equity (Aoci) (Details)                       HTML     73K  
143: R126        Total Equity (Components of Period Changes in OCI   HTML    193K  
                ) (Details)                                                      
144: R127        Total Equity (Cumulative Adjustments to Retained    HTML     68K  
                Earnings) (Details)                                              
145: R128        Total Equity (Cumulative Foreign Currency           HTML     63K  
                Translation Adjustments) (Details)                               
146: R129        Earnings per Common Share (Calculation of Basic     HTML    125K  
                and Diluted EPS) (Details)                                       
147: R130        Interest Income and Interest Expense (Details)      HTML     87K  
148: R131        Deferred Compensation Plans (Stock-based            HTML     82K  
                Compensation Plans) (Details)                                    
149: R132        Deferred Compensation Plans (Vested and Unvested    HTML     82K  
                RSU Activity) (Details)                                          
150: R133        Deferred Compensation Plans (Unvested RSU           HTML     83K  
                Activity) (Details)                                              
151: R134        Deferred Compensation Plans (Performance-Based      HTML     73K  
                Stock Units) (Details)                                           
152: R135        Deferred Compensation Plans (Monte Carlo            HTML     67K  
                Simulation Assumptions) (Details)                                
153: R136        Deferred Compensation Plans (Deferred Cash-based    HTML     73K  
                Compensation Plans) (Details)                                    
154: R137        Deferred Compensation Plans (Annual Compensation    HTML     80K  
                Cost for 2018 Performance Year Awards) (Details)                 
155: R138        Employee Benefit Plans (Net Periodic Benefit        HTML    109K  
                Expense (Income)) (Details)                                      
156: R139        Employee Benefit Plans (Rollforward of the Benefit  HTML    119K  
                Obligation and Fair Value of Plan Assets)                        
                (Details)                                                        
157: R140        Employee Benefit Plans (Accumulated Benefit         HTML     65K  
                Obligation, and Pension Plans with Benefit                       
                Obligations in Excess of the Fair Value of Plan                  
                Assets) (Details)                                                
158: R141        Employee Benefit Plans (Assumptions) (Details)      HTML     76K  
159: R142        Employee Benefit Plans (Fair Value of Plan Assets)  HTML    135K  
                (Details)                                                        
160: R143        Employee Benefit Plans (Rollforward of Level 3      HTML     64K  
                Plan Assets) (Details)                                           
161: R144        Employee Benefit Plans (Expected Future Benefit     HTML     71K  
                Payments) (Details)                                              
162: R145        Employee Benefit Plans (401(k) and Defined          HTML     67K  
                Contribution Pension Plans) (Details)                            
163: R146        Income Taxes (Provision for (Benefit from) Income   HTML    126K  
                Taxes) (Details)                                                 
164: R147        Income Taxes (Effective Income Tax Rate) (Details)  HTML     92K  
165: R148        Income Taxes (Deferred Tax Assets and Liabilities)  HTML     84K  
                (Details)                                                        
166: R149        Income Taxes (Unrecognized Tax Benefits) (Details)  HTML     76K  
167: R150        Income Taxes (Earliest Tax Year Subject to          HTML     63K  
                Examination in Major Tax Jurisdictions) (Details)                
168: R151        Segment, Geographic and Revenue Information         HTML    197K  
                (Selected Financial Information by Business                      
                Segment) (Details)                                               
169: R152        Segment, Geographic and Revenue Information (Net    HTML     80K  
                Discrete Tax Provision (Benefit) by Segment)                     
                (Details)                                                        
170: R153        Segment, Geographic and Revenue Information         HTML     62K  
                (Assets by Business Segment) (Details)                           
171: R154        Segment, Geographic and Revenue Information         HTML     58K  
                (Additional Information - Investment Management)                 
                (Details)                                                        
172: R155        Segment, Geographic and Revenue Information (Net    HTML     67K  
                Revenues by Region) (Details)                                    
173: R156        Segment, Geographic and Revenue Information         HTML     64K  
                (Income by Region) (Details)                                     
174: R157        Segment, Geographic and Revenue Information (Total  HTML     61K  
                Assets by Region) (Details)                                      
175: R158        Segment, Geographic and Revenue Information         HTML     68K  
                (Trading Revenues by Product Type) (Details)                     
176: R159        Segment, Geographic and Revenue Information         HTML     88K  
                (Change in Revenue) (Details)                                    
177: R160        Segment, Geographic and Revenue Information         HTML     56K  
                (Receivables from Contracts with Customers)                      
                (Details)                                                        
178: R161        Parent Company (Condensed Income Statements and     HTML    132K  
                Comprehensive Income Statements) (Details)                       
179: R162        Parent Company (Condensed Balance Sheets)           HTML    171K  
                (Details)                                                        
180: R163        Parent Company (Condensed Cash Flow Statements)     HTML    163K  
                (Details)                                                        
181: R164        Parent Company (Long-Term Borrowings) (Details)     HTML     65K  
182: R165        Parent Company (Guarantees) (Details)               HTML     60K  
183: R166        Quarterly Results (Unaudited) (Details)             HTML    130K  
184: R167        Quarterly Results (Unaudited) (Subnote) (Details)   HTML     63K  
185: R168        Quarterly Results (Change in Revenue) (Details)     HTML     63K  
187: XML         IDEA XML File -- Filing Summary                      XML    384K  
186: EXCEL       IDEA Workbook of Financial Reports                  XLSX    321K  
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14: EX-101.CAL  XBRL Calculations -- ms-20181231_cal                 XML    652K 
15: EX-101.DEF  XBRL Definitions -- ms-20181231_def                  XML   3.52M 
16: EX-101.LAB  XBRL Labels -- ms-20181231_lab                       XML   6.42M 
17: EX-101.PRE  XBRL Presentations -- ms-20181231_pre                XML   4.73M 
13: EX-101.SCH  XBRL Schema -- ms-20181231                           XSD    678K 
188: ZIP         XBRL Zipped Folder -- 0001193125-19-051943-xbrl      Zip   1.19M  


‘R53’   —   Segment, Geographic and Revenue Information (Tables)


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.10.0.1
Segment, Geographic and Revenue Information (Tables)
12 Months Ended
Segment Reporting [Abstract]  
Selected Financial Information by Business Segment
Selected Financial Information by Business Segment
2018
$ in millionsIS WMIMI/ETotal
Investment banking1, 2$6,088$475$$(81)$6,482
Trading11,191279255611,551
Investments1821254437
Commissions and fees12,6711,804(285)4,190
Asset management142110,1582,468(149)12,898
Other535248(30)(10)743
Total non-interest
revenues3, 421,08812,9652,717(469)36,301
Interest income9,2715,49857(934)13,892
Interest expense9,7771,22128(940)10,086
Net interest(506)4,2772963,806
Net revenues$20,582$17,242$2,746$(463)$40,107
Income from continuing
operations before
income taxes$6,260$4,521$464$(8)$11,237
Provision for income taxes1,2301,04973(2)2,350
Income from continuing
operations5,0303,472391(6)8,887
Income (loss) from
discontinued operations,
net of income taxes(6)2(4)
Net income5,0243,472393(6)8,883
Net income applicable to
noncontrolling interests11817135
Net income applicable to
Morgan Stanley$4,906$3,472$376$(6)$8,748

2017
$ in millionsISWMIMI/ETotal
Investment banking$5,537$533$$(67)$6,003
Trading10,295848(22)(5)11,116
Investments3683449820
Commissions and fees2,4331,737(109)4,061
Asset management3599,3422,196(100)11,797
Other630268(37)(13)848
Total non-interest
revenues19,62212,7312,586(294)34,645
Interest income5,3774,5914(975)8,997
Interest expense6,1864864(979)5,697
Net interest(809)4,10543,300
Net revenues$18,813$16,836$2,586$(290)$37,945
Income from continuing
operations before
income taxes$5,644$4,299$456$4$10,403
Provision for income taxes1,9931,9742014,168
Income from continuing
operations3,6512,32525546,235
Income (loss) from
discontinued operations,
net of income taxes(19)(19)
Net income 3,6322,32525546,216
Net income applicable to
noncontrolling interests969105
Net income applicable to
Morgan Stanley$3,536$2,325$246$4$6,111

2016
$ in millionsISWMIMI/ETotal
Investment banking$4,476$484$$(27)$4,933
Trading9,387861(2)(37)10,209
Investments14713160
Commissions and fees2,4561,7453(95)4,109
Asset management2938,4542,063(113)10,697
Other53527731(18)825
Total non-interest
revenues17,29411,8212,108(290)30,933
Interest income4,0053,8885(882)7,016
Interest expense3,8403591(882)3,318
Net interest1653,52943,698
Net revenues$17,459$15,350$2,112$(290)$34,631
Income from continuing
operations before
income taxes$5,123$3,437$287$1$8,848
Provision for income taxes1,3181,333752,726
Income from continuing
operations3,8052,10421216,122
Income (loss) from
discontinued operations,
net of income taxes(1)21
Net income 3,8042,10421416,123
Net income applicable to
noncontrolling interests155(11)144
Net income applicable to
Morgan Stanley$3,649$2,104$225$1$5,979

I/E–Intersegment Eliminations 86%

  • Approximately 86% of Investment banking revenues and substantially all of Commissions and fees and Asset management revenues in 2018 were determined under the Revenues from Contracts with Customers accounting update.
  • Institutional Securities Investment banking revenues in 2018 are composed of $2,436 million of Advisory and $3,652 million of Underwriting revenues. Institutional Securities Investment banking revenues in 2017 are composed of $2,077 million of Advisory and $3,460 million of Underwriting revenues. Institutional Securities Investment banking revenues in 2016 are composed of $2,220 million of Advisory and $2,256 million of Underwriting revenues.
  • The Firm enters into certain contracts that contain a current obligation to perform services in the future. Excluding contracts where billing is commensurate with the value of the services performed at each stage of the contract, contracts with variable consideration that is subject to reversal, and contracts with less than one year duration, we expect to record the following approximate revenues in the future: $100 million per year in 2019 and 2020; between $40 million and $60 million per year in 2021 through 2025; and $10 million per year in 2026 through 2035. These revenues are primarily related to certain commodities contracts with customers.
  • Includes $2,821 million in revenues recognized in 2018 where some or all services were performed in prior periods. This amount is primarily composed of investment banking advisory fees and distribution fees.
Net Discrete Tax Provision (Benefit) by Segment
Net Discrete Tax Provision (Benefit) by Segment
$ in millionsISWMIMTotal
2018
Intermittent net discrete
tax provision (benefit)$(182)$$(21)$(203)
Recurring:
Employee share-based awards1(104)(50)(11)(165)
Total$(286)$(50)$(32)$(368)
2017
Intermittent:
Tax Act enactment2$705$402$94$1,201
Remeasurement of reserves
and related interest(168)(168)
Other(66)9(8)(65)
Total intermittent net discrete
tax provision (benefit)$471$411$86$968
Recurring:
Employee share-based awards1(93)(54)(8)(155)
Total$378$357$78$813
20163$(68)

  • Beginning in 2017, with the adoption of the accounting update, Improvements to Employee Share-Based Payment Accounting, the income tax consequences associated with employee share-based awards are recognized in Provision for income taxes in the income statements. The Firm considers these employee share-based award related provisions (benefits) to be recurring-type (“Recurring”) discrete tax items, as we anticipate some level of conversion activity each year.
  • For further discussion on the Tax Act, see Note 20.
  • The intermittent net discrete tax benefit for 2016 was principally within the Institutional Securities business segment.

Total Assets by Business Segment
Total Assets by Business Segment
AtAt
December 31,December 31,
$ in millions20182017
Institutional Securities$646,427$664,974
Wealth Management202,392182,009
Investment Management4,7124,750
Total1$853,531$851,733

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

Net Unrealized Performance-based Fees and Fee Waivers
Net Unrealized Performance-Based Fees
AtAt
December 31,December 31,
$ in millions20182017
Net cumulative unrealized performance-
based fees at risk of reversing$434$442

Reduction of Fees due to Fee Waivers
$ in millions201820172016
Fee waivers$56$86$91
Net Revenues by Region
Net Revenues by Region
$ in millions201820172016
Americas$29,301$27,817$25,487
EMEA6,0925,7144,994
Asia4,7144,4144,150
Total$40,107$37,945$34,631
Income from Continuing Operations before Income Tax Expense (Benefit)
Income from Continuing Operations before Income Tax Expense (Benefit)
$ in millions201820172016
U.S.$7,804$5,686$5,694
Non-U.S.13,4334,7173,154
Total$11,237$10,403$8,848

1. Non-U.S. income is defined as income generated from operations located outside the U.S.

Total Assets by Region
Total Assets by Region
AtAt
December 31,December 31,
$ in millions20182017
Americas$576,532$570,489
EMEA200,194191,398
Asia76,80589,846
Total$853,531$851,733
Trading Revenues by Product Type

Trading Revenues by Product Type

$ in millions201820172016
Interest rate$2,696$2,091$1,522
Foreign exchange9146471,156
Equity security and index16,1576,2915,690
Commodity and other1,17474056
Credit 6101,3471,785
Total$11,551$11,116$10,209

1. Dividend income is included within equity security and index contracts.

Change in Revenue and Expense as a Result of Application of the New Revenue Recognition Standard
Change in Revenues and Expenses as a Result of Application
of the New Revenue Recognition Standard
$ in millions2018
Gross presentation impact—Revenues
Investment banking—Advisory$75
Investment banking—Underwriting193
Asset management130
Other52
Subtotal350
Gross presentation impact—Expenses
Brokerage, clearing and exchange fees1$30
Marketing and business development31
Professional services102
Other2187
Subtotal350
Timing impact—Revenues
Investment banking—Advisory$15
Asset management(4)
Other19
Subtotal30
Net change in revenues and expenses$30

  • Intersegment transactions of $48 million have been eliminated.
  • Primarily composed of Investment banking transaction-related costs.
Receivables from Contracts with Customers
Receivables from Contracts with Customers
At At
December 31,January 1,
$ in millions20182018
Customer and other receivables$2,308$2,805

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/26/194,  424B2,  FWP
For Period end:12/31/1811-K,  13F-HR,  FWP,  SC 13G
 List all Filings 


4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/22/24  Morgan Stanley                    10-K       12/31/23  224:45M
 2/24/23  Morgan Stanley                    10-K       12/31/22  227:50M
 2/24/22  Morgan Stanley                    10-K       12/31/21  225:51M
 2/26/21  Morgan Stanley                    10-K       12/31/20  225:50M
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Filing Submission 0001193125-19-051943   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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