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Segment and Geographic Information (Tables)
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6 Months Ended |
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Jun. 30, 2012
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| Segment Reporting [Abstract] |
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| Selected Financial Information by Segments |
| Three Months Ended June 30, 2012 | | Institutional Securities | | Global
Wealth Management Group | | Asset Management | | Intersegment Eliminations | | Total | | | | | | | | | | | | | | | | | | | | | | | | | | | (dollars in millions) | | Total non-interest revenues | $ | 3,777 | $ | 2,914 | $ | 465 | $ | (42) | $ | 7,114 | | Net interest | | (543) | | 391 | | (9) | | — | | (161) | | Net revenues(1) | $ | 3,234 | $ | 3,305 | $ | 456 | $ | (42) | $ | 6,953 | | Income (loss) from continuing operations | | | | | | | | | | | | | before income taxes | $ | 508 | $ | 393 | $ | 43 | $ | (4) | $ | 940 | | Provision for income taxes | | 72 | | 148 | | 6 | | — | | 226 | | Income (loss) from continuing operations | | 436 | | 245 | | 37 | | (4) | | 714 | | | | | | | | | | | | | | | | | | | | Discontinued operations(2): | | | | | | | | | | | | | Gain (loss) from discontinued operations | | (46) | | 91 | | — | | 4 | | 49 | | | Provision for (benefit from) income taxes | | (17) | | 30 | | — | | — | | 13 | | | | Net gain (loss) on discontinued operations | | (29) | | 61 | | — | | 4 | | 36 | | Net income | | 407 | | 306 | | 37 | | — | | 750 | | Net income applicable to noncontrolling | | | | | | | | | | | | | interests | | 55 | | 81 | | 23 | | — | | 159 | | Net income applicable to Morgan Stanley | $ | 352 | $ | 225 | $ | 14 | $ | — | $ | 591 |
| Three Months Ended June 30, 2011 | | Institutional Securities | | Global Wealth Management Group | | Asset Management | | Intersegment Eliminations | | Total | | | | | | | | | | | | | | | | | | | | | | | | | | | (dollars in millions) | | Total non-interest revenues | $ | 5,563 | $ | 3,094 | $ | 646 | $ | (28) | $ | 9,275 | | Net interest | | (404) | | 346 | | (10) | | — | | (68) | | Net revenues(1) | $ | 5,159 | $ | 3,440 | $ | 636 | $ | (28) | $ | 9,207 | | Income from continuing operations before income | | | | | | | | | | | | | taxes | $ | 1,485 | $ | 317 | $ | 168 | $ | — | $ | 1,970 | | Provision for income taxes | | 347 | | 137 | | 54 | | — | | 538 | | Income from continuing operations | | 1,138 | | 180 | | 114 | | — | | 1,432 | | | | | | | | | | | | | | | | | | | | Discontinued operations(2): | | | | | | | | | | | | | Gain (loss) from discontinued operations | | (30) | | 6 | | 1 | | 1 | | (22) | | | Provision for income taxes | | — | | 2 | | 1 | | 1 | | 4 | | | | Net gain (loss) on discontinued operations | | (30) | | 4 | | — | | — | | (26) | | Net income | | 1,108 | | 184 | | 114 | | — | | 1,406 | | Net income applicable to noncontrolling interests | | 117 | | 4 | | 92 | | — | | 213 | | Net income applicable to Morgan Stanley | $ | 991 | $ | 180 | $ | 22 | $ | — | $ | 1,193 |
(1) In certain management fee arrangements, the Company is entitled to receive performance-based fees (also referred to as incentive fees) when the return on assets under management exceeds certain benchmark returns or other performance targets. In such arrangements, performance fee revenue is accrued (or reversed) quarterly based on measuring account fund performance to date versus the performance benchmark stated in the investment management agreement. The amount of performance-based fee revenue at risk of reversing if fund performance falls below stated investment management agreement benchmarks was approximately $188 million at June 30, 2012 and approximately $179 million at December 31, 2011 (see Note 2 to the consolidated financial statements for the year ended December 31, 2011 included in the Form 10-K). (2) See Notes 1 and 20 for discussion of discontinued operations. |
| Net Interest by Segments |
| Six Months Ended June 30, 2012 | | Institutional Securities | | Global Wealth Management Group | | Asset Management | | Intersegment Eliminations | | Total | | | | | | | | | | | | | | | | | | | | | | | | | | | (dollars in millions) | | Total non-interest revenues | $ | 7,261 | $ | 5,918 | $ | 1,006 | $ | (77) | $ | 14,108 | | Net interest | | (1,004) | | 801 | | (17) | | — | | (220) | | Net revenues(1) | $ | 6,257 | $ | 6,719 | $ | 989 | $ | (77) | $ | 13,888 | | Income (loss) from continuing operations before income | | | | | | | | | | | | | taxes | $ | 196 | $ | 780 | $ | 171 | $ | (4) | $ | 1,143 | | Provision for (benefit from) income taxes | | (33) | | 269 | | 44 | | — | | 280 | | Income (loss) from continuing operations | | 229 | | 511 | | 127 | | (4) | | 863 | | | | | | | | | | | | | | | | | | | | Discontinued operations(2): | | | | | | | | | | | | | Gain (loss) from discontinued operations | | (22) | | 93 | | 1 | | 4 | | 76 | | | Provision for income taxes | | 24 | | 31 | | — | | — | | 55 | | | | Net gain (loss) on discontinued operations | | (46) | | 62 | | 1 | | 4 | | 21 | | Net income | | 183 | | 573 | | 128 | | — | | 884 | | Net income applicable to noncontrolling interests | | 144 | | 155 | | 88 | | — | | 387 | | Net income applicable to Morgan Stanley | $ | 39 | $ | 418 | $ | 40 | $ | — | $ | 497 |
| Six Months Ended June 30, 2011 | | Institutional Securities | | Global Wealth Management Group | | Asset Management | | Intersegment Eliminations | | Total | | | | | | | | | | | | | | | | | | | | | | | | | | | (dollars in millions) | | Total non-interest revenues | $ | 9,458 | $ | 6,157 | $ | 1,276 | $ | (48) | $ | 16,843 | | Net interest | | (731) | | 687 | | (18) | | — | | (62) | | Net revenues(1) | $ | 8,727 | $ | 6,844 | $ | 1,258 | $ | (48) | $ | 16,781 | | Income from continuing operations before income | | | | | | | | | | | | | taxes | $ | 1,917 | $ | 661 | $ | 293 | $ | — | $ | 2,871 | | Provision for (benefit from) income taxes | | (16) | | 226 | | 84 | | — | | 294 | | Income from continuing operations | | 1,933 | | 435 | | 209 | | — | | 2,577 | | | | | | | | | | | | | | | | | | | | Discontinued operations(2): | | | | | | | | | | | | | Gain (loss) from discontinued operations | | (68) | | 9 | | 8 | | — | | (51) | | | Provision for (benefit from) income taxes | | (15) | | 3 | | 2 | | — | | (10) | | | | Net gain (loss) on discontinued operations | | (53) | | 6 | | 6 | | — | | (41) | | Net income | | 1,880 | | 441 | | 215 | | — | | 2,536 | | Net income applicable to noncontrolling interests | | 178 | | 78 | | 119 | | — | | 375 | | Net income applicable to Morgan Stanley | $ | 1,702 | $ | 363 | $ | 96 | $ | — | $ | 2,161 |
| Net Interest | | Institutional Securities | | Global Wealth Management Group | | Asset Management | | Intersegment Eliminations | | Total | | | | | | | | | | | | | | | | | | (dollars in millions) | | Three Months Ended June 30 2012 | | | | | | | | | | | | Interest income | $ | 931 | $ | 489 | $ | 2 | $ | (99) | $ | 1,323 | | Interest expense | | 1,474 | | 98 | | 11 | | (99) | | 1,484 | | | Net interest | $ | (543) | $ | 391 | $ | (9) | $ | — | $ | (161) | | | | | | | | | | | | | | | Three Months Ended June 30 2011 | | | | | | | | | | | | Interest income | $ | 1,579 | $ | 464 | $ | 3 | $ | (85) | $ | 1,961 | | Interest expense | | 1,983 | | 118 | | 13 | | (85) | | 2,029 | | | Net interest | $ | (404) | $ | 346 | $ | (10) | $ | — | $ | (68) | | | | | | | | | | | | | | | Six Months Ended June 30 2012 | | | | | | | | | | | | Interest income | $ | 2,076 | $ | 979 | $ | 5 | $ | (195) | $ | 2,865 | | Interest expense | | 3,080 | | 178 | | 22 | | (195) | | 3,085 | | | Net interest | $ | (1,004) | $ | 801 | $ | (17) | $ | — | $ | (220) | | | | | | | | | | | | | | | Six Months Ended June 30 2011 | | | | | | | | | | | | Interest income | $ | 3,065 | $ | 917 | $ | 7 | $ | (169) | $ | 3,820 | | Interest expense | | 3,796 | | 230 | | 25 | | (169) | | 3,882 | | | Net interest | $ | (731) | $ | 687 | $ | (18) | $ | — | $ | (62) | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Assets by Segments |
| Total Assets(1) | | Institutional Securities | | Global Wealth Management Group | | Asset Management | | Total | | | | | | | | | | | | | | (dollars in millions) | | At June 30, 2012 | $ | 634,905 | $ | 106,611 | $ | 7,001 | $ | 748,517 | | At December 31, 2011 | $ | 641,456 | $ | 101,427 | $ | 7,015 | $ | 749,898 |
(1) Corporate assets have been fully allocated to the Company's business segments. |
| Net Revenues by Geographic Area |
| | | | Three Months Ended | | Six Months Ended | | | | | June 30, | | June 30, | | Net Revenues | | 2012 | | 2011 | | 2012 | | 2011 | | | | | (dollars in millions) | | Americas | $ | 5,114 | $ | 6,599 | $ | 9,904 | $ | 12,065 | | Europe, Middle East, and Africa | | 978 | | 1,527 | | 2,132 | | 3,194 | | Asia | | 861 | | 1,081 | | 1,852 | | 1,522 | | | Net revenues | $ | 6,953 | $ | 9,207 | $ | 13,888 | $ | 16,781 |
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