Morgan Stanley 2014 Annual Report Download - page 62

Financial Information and Statistical Data (dollars in millions, except where noted and per share amounts)—
(Continued).
2014 2013 2012
Average common equity (dollars in billions)(8):
Institutional Securities ..................................... $ 32.2 $ 37.9 $ 29.0
Wealth Management ...................................... 11.2 13.2 13.3
Investment Management ................................... 2.9 2.8 2.4
Parent capital ............................................ 19.0 8.0 16.1
Consolidated average common equity ..................... $ 65.3 $ 61.9 $ 60.8
Return on average common equity from continuing operations(9):
Institutional Securities ..................................... N/M 2.3% N/M
Wealth Management ...................................... 27.5% 9.9% 5.7%
Investment Management ................................... 12.8% 18.1% 6.7%
Consolidated ............................................. 4.9% 4.4% 0.1%
Average tangible common equity (dollars in billions)(10) ........... $ 55.5 $ 53.0 $ 53.9
Return on average tangible common equity from continuing
operations(11) ............................................. 5.7% 5.1% 0.1%
Selected management financial measures, excluding DVA:
Net revenues, excluding DVA(12) ............................ $33,624 $33,174 $30,580
Income from continuing operations applicable to Morgan Stanley,
excluding DVA(12) ..................................... $ 3,063 $ 3,427 $ 3,256
Income per diluted common share from continuing operations,
excluding DVA(12) ..................................... $ 1.39 $ 1.61 $ 1.64
Return on average common equity, excluding DVA(9) ........... 4.1% 5.0% 5.2%
Return on average tangible common equity, excluding DVA(11) . . . 4.9% 5.8% 5.9%
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