Morgan Stanley 2010 Annual Report Download - page 246
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MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Selected financial information for the Company’s segments is presented below:
2010
Institutional
Securities
Global Wealth
Management
Group
Asset
Management Discover
Intersegment
Eliminations Total
(dollars in millions)
Total non-interest revenues(1) .......... $16,632 $11,514 $2,799 $— $(187) $30,758
Net interest ......................... (266) 1,122 (76) — 84 864
Net revenues ........................ $16,366 $12,636 $2,723 $— $(103) $31,622
Income (loss) from continuing operations
before income taxes ................ $ 4,338 $ 1,156 $ 723 $— $ (15) $ 6,202
Provision for (benefit from) income
taxes ............................. 301 336 105 — (3) 739
Income (loss) from continuing
operations ........................ 4,037 820 618 — (12) 5,463
Discontinued operations(2):
Gain (loss) from discontinued
operations .................... (1,175) — 994 775 12 606
Provision for income taxes ......... 26 — 335 — 6 367
Net gain (loss) on discontinued
operations(3) .............. (1,201) — 659 775 6 239
Net income (loss) .................... 2,836 820 1,277 775 (6) 5,702
Net income applicable to noncontrolling
interests .......................... 290 301 408 — — 999
Net income (loss) applicable to Morgan
Stanley ........................... $ 2,546 $ 519 $ 869 $775 $ (6) $ 4,703
2009
Institutional
Securities
Global Wealth
Management
Group
Asset
Management
Intersegment
Eliminations Total
(dollars in millions)
Total non-interest revenues .................... $12,977 $8,729 $1,420 $(464) $22,662
Net interest ................................ (124) 661 (83) 318 772
Net revenues ............................... $12,853 $9,390 $1,337 $(146) $23,434
Income (loss) from continuing operations
before income taxes ........................ $ 1,088 $ 559 $ (653) $ (11) $ 983
Provision for (benefit from) income taxes ........ (301) 178 (215) (3) (341)
Income (loss) from continuing operations ........ 1,389 381 (438) (8) 1,324
Discontinued operations(2):
Gain (loss) from discontinued operations ..... 396 — (376) 13 33
Provision for (benefit from) income taxes .... 229 — (277) (1) (49)
Net gain (loss) on discontinued
operations(3) ..................... 167 — (99) 14 82
Net income (loss) ............................ 1,556 381 (537) 6 1,406
Net income (loss) applicable to noncontrolling
interests ................................. 12 98 (50) — 60
Net income (loss) applicable to Morgan Stanley . . . $ 1,544 $ 283 $ (487) $ 6 $ 1,346
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