Morgan Stanley 2009 Annual Report Download - page 37

Item 6. Selected Financial Data.
MORGAN STANLEY
SELECTED FINANCIAL DATA
(dollars in millions, except share and per share data)
2009(1)(2)
Fiscal
Year
2008(3)
Fiscal
Year
2007(3)
Fiscal
Year
2006(3)
Fiscal
Year
2005(3)
One Month
Ended
December 31,
2008(2)(3)
Income Statement Data:
Revenues:
Investment banking .............................. $ 5,019 $ 4,057 $ 6,316 $ 4,706 $ 3,795 $ 196
Principal transactions:
Trading .................................... 7,447 5,472 3,208 11,805 7,376 (1,743)
Investments ................................ (1,054) (3,925) 3,247 1,778 1,125 (207)
Commissions ................................... 4,234 4,449 4,659 3,746 3,302 214
Asset management, distribution and administration
fees ......................................... 5,884 4,839 5,486 4,231 3,866 292
Other .......................................... 838 3,852 776 209 (102) 107
Total non-interest revenues .................... 22,368 18,744 23,692 26,475 19,362 (1,141)
Interest and dividends ............................ 7,702 39,679 60,069 42,774 25,985 1,297
Interest expense ................................. 6,712 36,312 57,283 40,909 23,558 1,124
Net interest ................................. 990 3,367 2,786 1,865 2,427 173
Net revenues ................................ 23,358 22,111 26,478 28,340 21,789 (968)
Non-interest expenses:
Compensation and benefits ........................ 14,438 11,887 16,122 13,593 10,378 585
Other .......................................... 8,063 9,087 7,580 6,353 6,071 474
Total non-interest expenses .................... 22,501 20,974 23,702 19,946 16,449 1,059
Income (loss) from continuing operations before income taxes
and cumulative effect of accounting change, net .......... 857 1,137 2,776 8,394 5,340 (2,027)
(Benefit from) provision for income taxes ................. (336) (21) 576 2,469 1,227 (732)
Income (loss) from continuing operations before cumulative
effect of accounting change, net ....................... 1,193 1,158 2,200 5,925 4,113 (1,295)
Discontinued operations(4):
Gain from discontinued operations .................. 160 1,121 1,682 2,351 1,227 18
(Benefit from) provision for income taxes ............. (53) 501 633 789 449 8
Net gain from discontinued operations ........... 213 620 1,049 1,562 778 10
Cumulative effect of accounting change, net ............... — — — — 49 —
Net income (loss) .................................... $ 1,406 $ 1,778 $ 3,249 $ 7,487 $ 4,940 $(1,285)
Net income applicable to non-controlling interests .......... 60 71 40 15 2 3
Net income (loss) applicable to Morgan Stanley ............ $ 1,346 $ 1,707 $ 3,209 $ 7,472 $ 4,938 $(1,288)
(Loss) earnings applicable to Morgan Stanley common
shareholders(5) .................................... $ (907) $ 1,495 $ 2,976 $ 7,027 $ 4,773 $(1,624)
Amounts applicable to Morgan Stanley:
Income (loss) from continuing operations ................. $ 1,149 $ 1,125 $ 2,162 $ 5,913 $ 4,111 $(1,295)
Net gain from discontinued operations ................... 197 582 1,047 1,559 778 7
Cumulative effect of accounting change, net ............... — — — — 49 —
Net income (loss) applicable to Morgan Stanley ............ $ 1,346 $ 1,707 $ 3,209 $ 7,472 $ 4,938 $(1,288)
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