Deferred Compensation Plans (Tables)
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12 Months Ended |
Dec. 31, 2018 |
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| Deferred Compensation Arrangements [Abstract] |
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| Stock-Based Compensation Expense |
| Stock-Based Compensation Expense | | | | | | | | | | | | $ in millions | | 2018 | | 2017 | | 2016 | | RSUs | $ | 892 | $ | 951 | $ | 1,054 | | Stock options | | — | | — | | 2 | | PSUs | | 28 | | 75 | | 81 | | Total1 | $ | 920 | $ | 1,026 | $ | 1,137 | | Includes: | | | | | | | | Retirement-eligible awards2 | $ | 110 | $ | 85 | $ | 73 |
- Net of cancellations.
- Relates to stock-based compensation anticipated to be awarded in January of the following year that does not contain a future service requirement.
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| Tax Benefit Related to Stock-Based Compensation Expense |
| Tax Benefit Related to Stock-Based Compensation Expense | | | | | | | | | $ in millions | | 2018 | | 2017 | | 2016 | | Tax benefit1 | $ | 193 | $ | 225 | $ | 381 |
1. Excludes income tax consequences related to employee share-based award conversions. |
| Unrecognized Compensation Cost Related to Unvested Stock-Based Awards |
| Unrecognized Compensation Cost Related to Unvested Stock-Based Awards | | | | | At | | December 31, | | $ in millions | 20181 | | To be recognized in: | | | | 2019 | $ | 364 | | 2020 | | 167 | | Thereafter | | 30 | | Total | $ | 561 |
1. Amounts do not include forfeitures, cancellations, accelerations or 2018 performance year compensation awarded in January 2019, which will begin to be amortized in 2019 (see the Annual Compensation Cost for 2018 Performance Year Awards table herein). |
| Common Shares Available for Future Awards Under Stock-Based Compensation Plans |
| Common Shares Available for Future Awards under Stock-Based Compensation Plans | | | | | At | | December 31, | | in millions | 2018 | | Shares | | 138 |
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| Vested and Unvested RSU Activity |
| Vested and Unvested RSU Activity | | | | | | | | 2018 | | shares in millions | Number of Shares | | Weighted Average Award Date Fair Value | | RSUs at beginning of period | 88 | $ | 32.46 | | Awarded | 20 | | 55.40 | | Conversions to common stock | (32) | | 34.36 | | Canceled | (2) | | 37.78 | | RSUs at end of period1 | 74 | $ | 37.59 | | Aggregate intrinsic value of | | | | | RSUs at end of period (dollars in millions) | $ | 2,899 | | Weighted average award date fair value | | RSUs awarded in 2017 | $ | 42.98 | | RSUs awarded in 2016 | | 25.48 |
1. At December 31, 2018, the weighted average remaining term until delivery for the outstanding RSUs was approximately 1.0 year. |
| Unvested RSU Activity |
| Unvested RSU Activity | | | | | | | | | 2018 | | shares in millions | Number of Shares | | Weighted Average Award Date Fair Value | | Unvested RSUs at beginning of period | 50 | $ | 33.64 | | Awarded | 20 | | 55.40 | | Vested | (27) | | 38.43 | | Canceled | (2) | | 37.78 | | Unvested RSUs at end of period1 | 41 | $ | 40.65 |
1. Unvested RSUs represent awards where recipients have yet to satisfy either the explicit vesting terms or retirement-eligible requirements. |
| Fair Value of RSU Activity |
| Fair Value of RSU Activity | | | | | | | | | | | | $ in millions | | 2018 | | 2017 | | 2016 | | Conversions to common stock | $ | 1,790 | $ | 1,333 | $ | 1,068 | | Vested | | 1,504 | | 1,470 | | 1,088 |
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| PSU Fair Value on Award Date |
| PSU Fair Value on Award Date | | | | | | | | | | 2018 | | 2017 | | 2016 | | MS Adjusted ROE | $ | 56.84 | $ | 42.64 | $ | 25.19 | | Relative MS TSR | | 65.81 | | 48.02 | | 24.51 |
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| Monte Carlo Simulation Assumptions |
| Monte Carlo Simulation Assumptions | | | | | | | | | | | Award Year | | Risk-Free Interest Rate | | Expected Stock Price Volatility | | Correlation Coefficient | | 2018 | | 2.2% | | 26.8% | | 0.89 | | 2017 | | 1.5% | | 27.0% | | 0.89 | | 2016 | | 1.1% | | 25.4% | | 0.84 |
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| Deferred Cash-Based Compensation Plans |
| Deferred Cash-Based Compensation Expense | | | | | | | | | | $ in millions | | 2018 | | 2017 | | 2016 | | Deferred cash-based awards | $ | 1,174 | $ | 1,039 | $ | 950 | | Return on referenced investments | 108 | | 696 | | 228 | | Total1 | $ | 1,282 | $ | 1,735 | $ | 1,178 | | Includes: | | | | | | | | Retirement-eligible awards2 | $ | 193 | $ | 176 | $ | 151 |
1. Net of cancellations. 2. Relates to deferred cash-based compensation anticipated to be awarded in January of the following year that does not contain a future service requirement. | Unrecognized Compensation Cost Related to Unvested Deferred Cash-Based Awards | | | | | | | At | | | December 31, | | $ in millions | 20181 | | To be recognized in: | | | | 2019 | $ | 423 | | 2020 | | 151 | | Thereafter | | 227 | | Total | $ | 801 |
- Amounts do not include forfeitures, cancellations, accelerations, future return on referenced investments or 2018 performance year compensation awarded in January 2019, which will begin to be amortized in 2019 (see below).
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| Annual Compensation Cost for 2018 Performance Year Awards |
| Annual Compensation Cost for 2018 Performance Year Awards1 | | | | | | | | | | | | $ in millions | 2019 | 2020 | Thereafter | Total | | Stock-based awards | $ | 558 | $ | 197 | $ | 151 | $ | 906 | | Deferred cash-based awards | 630 | | 284 | | 122 | | 1,036 | | Total | $ | 1,188 | $ | 481 | $ | 273 | $ | 1,942 |
1. Awarded in January 2019 and contain a future service requirement. Amounts do not include forfeitures, cancellations, accelerations, or future return on referenced investments. |