Morgan Stanley 2009 Annual Report Download - page 229

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Parent Company Only
Condensed Statements of Income and Comprehensive Income
(dollars in millions)
2009
Fiscal
2008
Fiscal
2007
One Month Ended
December 31,
2008
Revenues:
Dividends from bank subsidiary ..................... $ — $ — $ 6 $ —
Dividends from non-bank subsidiary .................. 6,117 4,209 6,969 14
Undistributed loss of subsidiaries .................... (307) (6,844) (3,500) (1,305)
Principal transactions .............................. (5,592) 7,547 613 548
Other ........................................... 484 1,451 (2) 612
Total non-interest revenues ..................... 702 6,363 4,086 (131)
Interest and dividends ............................. 4,432 11,098 9,211 658
Interest expense .................................. 6,153 12,167 9,834 1,164
Net interest .................................. (1,721) (1,069) (623) (506)
Net revenues ............................. (1,019) 5,294 3,463 (637)
Non-interest expenses:
Non-interest expenses ............................. 461 767 427 649
(Loss) income before income tax provision (benefit) ......... (1,480) 4,527 3,036 (1,286)
(Benefit from) provision for income taxes .................. (2,826) 2,820 (173) 2
Net income (loss) ..................................... 1,346 1,707 3,209 (1,288)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment ............... 116 (160) 65 (96)
Net change in cash flow hedges ...................... 13 16 19 2
Minimum pension liability adjustment ................ — — (40) —
Net (loss) gain related to pension and other postretirement
adjustments .................................... (301) 203 — (200)
Prior service credit related to pension and postretirement
benefits ....................................... 10 — — —
Amortization of net loss related to pension and
postretirement benefits ........................... 28 19 — —
Amortization of prior service credit related to pension and
postretirement benefits ........................... (6) (6) — (1)
Comprehensive income (loss) ........................... $1,206 $ 1,779 $ 3,253 $(1,583)
Net income (loss) ..................................... $1,346 $ 1,707 $ 3,209 $(1,288)
(Loss) earnings applicable to common shareholders .......... $ (907) $ 1,495 $ 2,976 $(1,624)
224