Morgan Stanley 2014 Annual Report Download - page 58

2014 2013 2012 2011 2010
Per Share Data:
Earnings (loss) per basic common share(4):
Income from continuing operations ...... $ 1.65 $ 1.42 $ 0.02 $ 1.28 $ 2.49
Income (loss) from discontinued
operations ........................ (0.01) (0.03) (0.04) (0.03) 0.15
Earnings (loss) per basic common
share ........................ $ 1.64 $ 1.39 $ (0.02) $ 1.25 $ 2.64
Earnings (loss) per diluted common share(4):
Income from continuing operations ...... $ 1.61 $ 1.38 $ 0.02 $ 1.27 $ 2.45
Income (loss) from discontinued
operations ........................ (0.01) (0.02) (0.04) (0.04) 0.18
Earnings (loss) per diluted common
share ........................ $ 1.60 $ 1.36 $ (0.02) $ 1.23 $ 2.63
Book value per common share(5) ............ $ 33.25 $ 32.24 $ 30.70 $ 31.42 $ 31.49
Dividends declared per common share ........ 0.35 0.20 0.20 0.20 0.20
Average common shares outstanding(3):
Basic .............................. 1,923,805,397 1,905,823,882 1,885,774,276 1,654,708,640 1,361,670,938
Diluted............................. 1,970,535,560 1,956,519,738 1,918,811,270 1,675,271,669 1,411,268,971
Balance Sheet and Other Operating Data:
Trading assets ....................... $ 256,801 $ 280,744 $ 267,603 $ 275,353 $ 306,746
Loans(6) ........................... 66,577 42,874 29,046 15,369 10,576
Total assets ......................... 801,510 832,702 780,960 749,898 807,698
Total deposits ....................... 133,544 112,379 83,266 65,662 63,812
Long-term borrowings ................ 152,772 153,575 169,571 184,234 192,457
Morgan Stanley shareholders’ equity ..... 70,900 65,921 62,109 62,049 57,211
Return on average common equity(7) ..... 4.8% 4.3% N/M 3.8% 9.0%
N/M—Not Meaningful
(1) Prior-period amounts have been recast for discontinued operations. See Note 1 to the Company’s consolidated financial statements in
Item 8 for information on discontinued operations.
(2) Information includes 100%, 65% and 51% ownership of the retail securities joint venture between the Company and Citigroup Inc. (the
“Wealth Management JV”) effective June 28, 2013, September 17, 2012 and May 31, 2009, respectively (see Note 3 to the Company’s
consolidated financial statements in Item 8).
(3) Amounts shown are used to calculate earnings (loss) per basic and diluted common share.
(4) For the calculation of basic and diluted earnings (loss) per common share, see Note 16 to the Company’s consolidated financial
statements in Item 8.
(5) Book value per common share equals common shareholders’ equity of $64,880 million at December 31, 2014, $62,701 million at
December 31, 2013, $60,601 million at December 31, 2012, $60,541 million at December 31, 2011 and $47,614 million at December 31,
2010, divided by common shares outstanding of 1,951 million at December 31, 2014, 1,945 million at December 31, 2013, 1,974 million
at December 31, 2012, 1,927 million at December 31, 2011 and 1,512 million at December 31, 2010.
(6) Amounts include loans held for investment and loans held for sale and exclude loans at fair value which are included in Trading assets in
the Company’s consolidated statements of financial condition (see Note 8 to the Company’s consolidated financial statements in Item 8).
(7) The calculation of return on average common equity uses net income applicable to Morgan Stanley less preferred dividends as a
percentage of average common equity. The return on average common equity is a non-generally accepted accounting principle financial
measure that the Company considers to be a useful measure to the Company and investors to assess operating performance.
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