Morgan Stanley 2014 Annual Report Download - page 300

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Parent Company Only
Condensed Statements of Income and Comprehensive Income
(dollars in millions)
2014 2013 2012
Revenues:
Dividends from non-bank subsidiaries ................................ $2,641 $ 1,113 $ 545
Trading ........................................................ 601 (635) (3,400)
Investments ..................................................... (1) — 2
Other .......................................................... 10 27 36
Total non-interest revenues .................................... 3,251 505 (2,817)
Interest income .................................................. 2,594 2,783 3,316
Interest expense ................................................. 3,970 4,053 5,190
Net interest ................................................. (1,376) (1,270) (1,874)
Net revenues ............................................ 1,875 (765) (4,691)
Non-interest expenses:
Non-interest expenses ............................................ 214 185 114
Income (loss) before provision for (benefit from) income taxes ................ 1,661 (950) (4,805)
Provision for (benefit from) income taxes ................................. (423) (354) (1,088)
Net income (loss) before undistributed gain (loss) subsidiaries ................ 2,084 (596) (3,717)
Undistributed gain of subsidiaries ....................................... 1,383 3,528 3,785
Net income ......................................................... 3,467 2,932 68
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments ............................. (397) (143) (128)
Amortization of cash flow hedges ...................................446
Change in net unrealized gains (losses) on available for sale securities ...... 209 (433) 28
Pension, postretirement and other related adjustments ................... 29 (5) (265)
Comprehensive income (loss) .......................................... $3,312 $ 2,355 $ (291)
Net income ......................................................... $3,467 $ 2,932 $ 68
Preferred stock dividends and other ...................................... 315 277 98
Earnings (loss) applicable to Morgan Stanley common shareholders ............ $3,152 $ 2,655 $ (30)
296