Parent Company (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Condensed Financial Information Disclosure [Abstract] |
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| Schedule of Condensed Income Statements and Comprehensive Income Statements |
Parent Company Only—Condensed Income Statement and Comprehensive Income Statement | | | | | | | | | | | | | $ in millions | 2025 | 2024 | 2023 | | Revenues | | | | | Dividends from bank subsidiaries | $ | 3,886 | | $ | 5,571 | | $ | 5,770 | | Dividends from BHC and non-bank subsidiaries | 4,325 | | 5,229 | | 6,812 | | | Total dividends from subsidiaries | 8,211 | | 10,800 | | 12,582 | | | Trading | (151) | | (827) | | (775) | | | Other | (3) | | 36 | | (31) | | | Total non-interest revenues | 8,057 | | 10,009 | | 11,776 | | | Interest income | 14,234 | | 15,739 | | 13,596 | | | Interest expense | 14,195 | | 15,377 | | 13,618 | | | Net interest | 39 | | 362 | | (22) | | | Net revenues | 8,096 | | 10,371 | | 11,754 | | | Non-interest expenses | 397 | | 358 | | 287 | | | Income before income taxes | 7,699 | | 10,013 | | 11,467 | | | Provision for (benefit from) income taxes | (557) | | (499) | | (520) | | | Net income before undistributed gain of subsidiaries | 8,256 | | 10,512 | | 11,987 | | Undistributed (loss) gain of subsidiaries | 8,605 | | 2,878 | | (2,900) | | | Net income | 16,861 | | 13,390 | | 9,087 | | | Other comprehensive income (loss), net of tax: | | | | | Foreign currency translation adjustments | 307 | | (324) | | 51 | | | Change in net unrealized gains (losses) on available-for-sale securities | 988 | | 521 | | 1,098 | | | Pensions and other | 25 | | 12 | | (87) | | | Change in net debt valuation adjustment | (849) | | (551) | | (1,250) | | | Net change in cash flow hedges | 58 | | (51) | | 20 | | | Comprehensive income | $ | 17,390 | | $ | 12,997 | | $ | 8,919 | | | Net income | $ | 16,861 | | $ | 13,390 | | $ | 9,087 | | | Preferred stock dividends and other | 612 | | 590 | | 557 | | Earnings applicable to Morgan Stanley common shareholders | $ | 16,249 | | $ | 12,800 | | $ | 8,530 | |
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| Schedule of Condensed Balance Sheets |
Parent Company Only—Condensed Balance Sheet | | | | | | | | | | $ in millions, except share data | At
December 31,
2025 | At
December 31,
2024 | | Assets | | | | Cash and cash equivalents | $ | 26,640 | | $ | 19,343 | | | Trading assets at fair value | 4,333 | | 3,944 | | Investment securities: | | | Available-for-sale at fair value (amortized cost of $22,299 and $22,557; $165 and $11,816 were pledged to various parties) | 22,044 | | 22,100 | | Held-to-maturity (fair value of $7,809 and $12,050; $971 and $1,715 were pledged to various parties) | 8,541 | | 13,160 | | | Securities purchased under agreement to resell to affiliates | 35,331 | | 26,730 | | | Advances to subsidiaries: | | | | Bank and BHC | 35,548 | | 37,370 | | | Non-bank | 168,633 | | 154,100 | | | Equity investments in subsidiaries: | | | | Bank and BHC | 68,190 | | 60,904 | | | Non-bank | 55,163 | | 51,100 | | | Other assets | 2,536 | | 1,886 | | | Total assets | $ | 426,959 | | $ | 390,637 | | | Liabilities | | | | Trading liabilities at fair value | $ | 2,011 | | $ | 100 | | | Securities sold under agreements to repurchase from affiliates | 1,373 | | 13,764 | | | Payables to and advances from subsidiaries | 108,245 | | 87,124 | | | Other liabilities and accrued expenses | 3,260 | | 3,011 | | Borrowings (includes $13,019 and $12,814 at fair value) | 200,438 | | 182,127 | | | Total liabilities | 315,327 | | 286,126 | | | Commitments and contingent liabilities (see Note 14) | | | Equity | | | | Preferred stock | 9,750 | | 9,750 | | Common stock, $0.01 par value: | | | Shares authorized: 3,500,000,000; Shares issued: 2,038,893,979; Shares outstanding: 1,582,834,137 and 1,606,653,706 | 20 | | 20 | | | Additional paid-in capital | 31,153 | | 30,179 | | | Retained earnings | 115,091 | | 104,989 | | | Employee stock trusts | 5,154 | | 5,103 | | | Accumulated other comprehensive income (loss) | (6,285) | | (6,814) | | Common stock held in treasury at cost, $0.01 par value (456,059,842 and 432,240,273 shares) | (38,097) | | (33,613) | | Common stock issued to employee stock trusts | (5,154) | | (5,103) | | | Total shareholders’ equity | 111,632 | | 104,511 | | | Total liabilities and equity | $ | 426,959 | | $ | 390,637 | |
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| Schedule of Condensed Cash Flow Statements |
Parent Company Only—Condensed Cash Flow Statement | | | | | | | | | | | | | $ in millions | 2025 | 2024 | 2023 | | | | | | | | | | | | | | | | | | | | | | | | | Net cash provided by (used for) operating activities | $ | 18,578 | | $ | 10,688 | | $ | 24,914 | | | Cash flows from investing activities | | | | | Proceeds from (payments for): | | | | AFS securities: | | | | | Purchases | (8,542) | | (7,806) | | (9,362) | | | Proceeds from sales | 550 | | — | | 300 | | | Proceeds from paydowns and maturities | 8,249 | | 7,444 | | 5,479 | | HTM securities: | | | | | Purchases | — | | (1,729) | | — | | | Proceeds from paydowns and maturities | 4,674 | | 4,402 | | 4,003 | | | Securities purchased under agreements to resell with affiliates | (8,601) | | (2,037) | | (1,706) | | | Securities sold under agreements to repurchase with affiliates | (12,391) | | (6,529) | | (8,389) | | | Advances to and investments in subsidiaries | (13,906) | | (15,191) | | (10,097) | | | Net cash provided by (used for) investing activities | (29,967) | | (21,446) | | (19,772) | | | Cash flows from financing activities | | | | | Proceeds from: | | | | | Issuance of preferred stock, net of issuance costs | — | | 995 | | — | | | Issuance of Borrowings | 31,699 | | 33,385 | | 23,783 | | | Payments for: | | | | | Borrowings | (22,224) | | (24,500) | | (22,554) | | | Repurchases of common stock and employee tax withholdings | (5,835) | | (4,161) | | (6,178) | | | Cash dividends | (6,593) | | (6,138) | | (5,763) | | | Net change in advances from subsidiaries | 21,032 | | 13,839 | | (3,029) | | | | | | | Net cash provided by (used for) financing activities | 18,079 | | 13,420 | | (13,741) | | | Effect of exchange rate changes on cash and cash equivalents | 607 | | (200) | | 147 | | | Net increase (decrease) in cash and cash equivalents | 7,297 | | 2,462 | | (8,452) | | | Cash and cash equivalents, at beginning of period | 19,343 | | 16,881 | | 25,333 | | | Cash and cash equivalents, at end of period | $ | 26,640 | | $ | 19,343 | | $ | 16,881 | | | Cash and cash equivalents: | | | | | Cash and due from banks | $ | 108 | | $ | 66 | | $ | 107 | | | Deposits with bank subsidiaries | 26,532 | | 19,277 | | 16,774 | | | Cash and cash equivalents, at end of period | $ | 26,640 | | $ | 19,343 | | $ | 16,881 | | | Restricted cash | $ | 2,066 | | $ | 1,086 | | $ | 1,086 | | | Supplemental Disclosure of Cash Flow Information | | Cash payments for: | | | | | Interest | $ | 15,736 | | $ | 15,971 | | $ | 14,437 | | Income taxes, net of refunds1 | 1,931 | | 798 | | 599 | |
1.Represents total payments, net of refunds, made to various tax authorities and includes taxes paid on behalf of certain subsidiaries that are subsequently settled between the Parent Company and these subsidiaries. The settlements received from subsidiaries were $2.4 billion, $1.6 billion and $1.6 billion for 2025, 2024 and 2023, respectively.
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| Schedule of Borrowings with Original Maturities Greater than One Year |
Parent Company’s Borrowings with Original Maturities Greater than One Year | | | | | | | | | | $ in millions | At
December 31,
2025 | At
December 31,
2024 | | Senior | $ | 188,255 | | $ | 168,413 | | | Subordinated | 12,182 | | 13,713 | | | Total | $ | 200,437 | | $ | 182,126 | |
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| Schedule of Obligations under Guarantee Arrangements |
Guarantees of Debt Instruments and Warrants Issued by Subsidiaries | | | | | | | | | | $ in millions | At
December 31,
2025 | At
December 31,
2024 | | Aggregate balance | $ | 92,330 | | $ | 70,662 | |
Guarantees under Subsidiary Lease Obligations | | | | | | | | | | $ in millions | At
December 31,
2025 | At
December 31,
2024 | Aggregate balance1 | $ | 660 | | $ | 628 | |
1.Amounts primarily relate to the U.K.
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