|
Total Equity
|
6 Months Ended |
|---|---|
|
Jun. 30, 2012
|
|
| Total Equity | |
| Total Equity | 13. Total Equity.
Morgan Stanley Shareholders' Equity.
Common Equity Offerings.
During the quarters and six months ended June 30, 2012 and 2011, the Company did not purchase any of its common stock as part of its share repurchase program. At June 30, 2012, the Company had approximately $1.6 billion remaining under its current share repurchase authorization. Share repurchases by the Company are subject to regulatory approval.
MUFG Stock Conversion.
On June 30, 2011, the Company's outstanding Series B Preferred Stock owned by MUFG with a face value of $7.8 billion (carrying value $8.1 billion) and a 10% dividend was converted into 385,464,097 shares of the Company's common stock, including approximately 75 million shares resulting from the adjustment to the conversion ratio pursuant to the transaction agreement. As a result of the adjustment to the conversion ratio, the Company incurred a one-time, non-cash negative adjustment of approximately $1.7 billion in its calculation of basic and diluted earnings per share during the quarter and six months ended June 30, 2011.
Noncontrolling Interests.
Changes in noncontrolling interests in the six months ended June 30, 2012 primarily resulted from $622 million in net assets received from Citi related to the Smith Barney delayed contribution businesses, partially offset by distributions related to MSMS of $151 million. Changes in noncontrolling interests in the six months ended June 30, 2011 primarily resulted from distributions related to MSMS of $139 million.
|