Morgan Stanley 2009 Annual Report Download - page 222
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MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Selected financial information for the Company’s segments is presented below:
2009
Institutional
Securities
Global Wealth
Management
Group
Asset
Management
Intersegment
Eliminations Total
(dollars in millions)
Total non-interest revenues .................... $12,692 $8,729 $1,411 $(464) $22,368
Net interest ................................. 85 661 (74) 318 990
Net revenues ................................ $12,777 $9,390 $1,337 $(146) $23,358
Income (loss) from continuing operations
before income taxes ........................ $ 982 $ 559 $ (673) $ (11) $ 857
(Benefit from) provision for income taxes ......... (293) 178 (218) (3) (336)
Income (loss) from continuing operations ......... 1,275 381 (455) (8) 1,193
Discontinued operations(1):
Gain (loss) from discontinued operations ..... 503 — (357) 14 160
Provision for (benefit from) income taxes ..... 222 — (275) — (53)
Gain (loss) on discontinued
operations(2) ...................... 281 — (82) 14 213
Net income (loss) ............................ 1,556 381 (537) 6 1,406
Net income (loss) applicable to non-controlling
interests .................................. 12 98 (50) — 60
Net income (loss) applicable to Morgan Stanley .... $ 1,544 $ 283 $ (487) $ 6 $ 1,346
Fiscal 2008
Institutional
Securities
Global Wealth
Management
Group
Asset
Management Discover
Intersegment
Eliminations Total
(dollars in millions)
Total non-interest revenues ............... $12,316 $6,085 $ 601 $ — $(258) $18,744
Net interest ............................ 2,422 934 (53) — 64 3,367
Net revenues .......................... $14,738 $7,019 $ 548 $ — $(194) $22,111
Income (loss) from continuing operations
before income taxes(3) ................. $ 1,423 $1,154 $(1,423) $ — $ (17) $ 1,137
Provision for (benefit from) income taxes .... 113 440 (568) — (6) (21)
Income (loss) from continuing
operations(3) ........................ 1,310 714 (855) — (11) 1,158
Discontinued operations(1):
Gain (loss) from discontinued
operations ....................... 1,578 — (384) (100) 27 1,121
Provision for (benefit from) income
taxes ........................... 612 — (122) — 11 501
Gain (loss) on discontinued
operations(2) ................ 966 — (262) (100) 16 620
Net income (loss) ....................... 2,276 714 (1,117) (100) 5 1,778
Net income applicable to non-controlling
interests ........................ 71 — — — — 71
Net income (loss) applicable to Morgan
Stanley ............................. $ 2,205 $ 714 $(1,117) $(100) $ 5 $ 1,707
217