Morgan Stanley 2014 Annual Report Download - page 72

INSTITUTIONAL SECURITIES
INCOME STATEMENT INFORMATION
2014 2013 2012
(dollars in millions)
Revenues:
Investment banking ............................................. $ 5,203 $ 4,377 $ 3,930
Trading ....................................................... 8,445 8,147 6,003
Investments .................................................... 240 707 219
Commissions and fees ........................................... 2,610 2,425 2,175
Asset management, distribution and administration fees ................. 281 280 241
Other ......................................................... 684 684 279
Total non-interest revenues ............................... 17,463 16,620 12,847
Interest income ................................................. 3,389 3,572 4,224
Interest expense ................................................ 3,981 4,673 5,970
Net interest ................................................ (592) (1,101) (1,746)
Net revenues ........................................... 16,871 15,519 11,101
Compensation and benefits ........................................... 7,786 6,823 6,979
Non-compensation expenses .......................................... 9,143 7,750 5,734
Total non-interest expenses ............................... 16,929 14,573 12,713
Income (loss) from continuing operations before income taxes ............... (58) 946 (1,612)
Provision for (benefit from) income taxes ................................ (90) (315) (985)
Income (loss) from continuing operations ................................ 32 1,261 (627)
Discontinued operations:
Income (loss) from discontinued operations before income taxes .......... (26) (81) (158)
Provision for (benefit from) income taxes ............................ (7) (29) (36)
Income (losses) from discontinued operations ..................... (19) (52) (122)
Net income (loss) ................................................... 13 1,209 (749)
Net income applicable to redeemable noncontrolling interests ............ — 1 4
Net income applicable to nonredeemable noncontrolling interests ......... 109 277 170
Net income (loss) applicable to Morgan Stanley ........................... $ (96) $ 931 $ (923)
Amounts applicable to Morgan Stanley:
Income (loss) from continuing operations ............................ $ (77) $ 983 $ (797)
Income (loss) from discontinued operations .......................... (19) (52) (126)
Net income (loss) applicable to Morgan Stanley ............... $ (96) $ 931 $ (923)
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