Morgan Stanley 1999 Annual Report Download - page 58

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99 AR |page 56 (dollars in millions, except share data) NOVEMBER 30, 1999 NOVEMBER 30, 1998
LIABILITIES AND SHAREHOLDERS’ EQUITY
Commercial paper and other short-term borrowings $ 38,242 $ 28,137
Deposits 10,397 8,197
Financial instruments sold, not yet purchased:
U.S. government and agency securities 12,285 11,305
Other sovereign government obligations 7,812 13,899
Corporate and other debt 2,322 3,093
Corporate equities 15,402 11,501
Derivative contracts 23,228 21,198
Physical commodities 919 348
Securities sold under agreements to repurchase 104,450 92,327
Obligation to return securities received as collateral 14,729 6,636
Securities loaned 30,080 23,152
Payables:
Customers 45,775 40,606
Brokers, dealers and clearing organizations 1,335 5,244
Interest and dividends 2,951 371
Other liabilities and accrued expenses 10,439 8,623
Long-term borrowings 28,604 27,435
348,970 302,072
Capital Units 583 999
Preferred Securities Issued by Subsidiaries 400 400
Commitments and contingencies
Shareholders’ equity:
Preferred stock 670 674
Common stock(1) ($0.01 par value, 1,750,000,000 shares
authorized, 1,211,685,904 and 1,211,685,904 shares issued,
1,104,630,098 and 1,131,341,616 shares outstanding at
November 30, 1999 and November 30, 1998) 12 12
Paid-in capital(1) 3,836 3,740
Retained earnings 16,285 12,080
Employee stock trust 2,426 1,913
Cumulative translation adjustments (27) (12)
Subtotal 23,202 18,407
Note receivable related to sale of preferred stock to ESOP (55) (60)
Common stock held in treasury, at cost(1) ($0.01 par value,
107,055,806 and 80,344,288 shares at November 30, 1999
and November 30, 1998) (4,355) (2,702)
Common stock issued to employee trust (1,778) (1,526)
Total shareholders’ equity 17,014 14,119
Total liabilities and shareholders’ equity $366,967 $317,590
(1) Amounts have been retroactively adjusted to give effect for a two-for-one common stock split, effected in the form of a 100% stock dividend, which became effective on
January 26, 2000.
See Notes to Consolidated Financial Statements.