Morgan Stanley 2015 Annual Report Download - page 3

ANNUAL REPORT ON FORM 10-K
for the year ended December 31, 2015
Table of Contents Page
Part I
Item 1. Business .............................................................................. 1
Overview ........................................................................... 1
Business Segments .................................................................... 1
Competition ......................................................................... 1
Supervision and Regulation ............................................................. 2
Executive Officers of Morgan Stanley ..................................................... 11
Item 1A. Risk Factors ........................................................................... 13
Item 1B. Unresolved Staff Comments ............................................................... 23
Item 2. Properties ............................................................................. 23
Item 3. Legal Proceedings ...................................................................... 24
Item 4. Mine Safety Disclosures .................................................................. 32
Part II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities ........................................................................... 33
Item 6. Selected Financial Data .................................................................. 36
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ............. 38
Introduction ......................................................................... 38
Executive Summary ................................................................... 39
Business Segments .................................................................... 46
Supplemental Financial Information and Disclosures ......................................... 67
Accounting Developments Updates ....................................................... 70
Critical Accounting Policies ............................................................. 71
Liquidity and Capital Resources ......................................................... 75
Item 7A. Quantitative and Qualitative Disclosures about Market Risk ..................................... 98
Item 8. Financial Statements and Supplementary Data ................................................ 121
Report of Independent Registered Public Accounting Firm .................................... 121
Consolidated Statements of Income ....................................................... 122
Consolidated Statements of Comprehensive Income .......................................... 123
Consolidated Statements of Financial Condition ............................................. 124
Consolidated Statements of Changes in Total Equity ......................................... 125
Consolidated Statements of Cash Flows ................................................... 126
Notes to Consolidated Financial Statements ................................................ 127
1. Introduction and Basis of Presentation ................................................. 127
2. Significant Accounting Policies ...................................................... 129
3. Fair Values ...................................................................... 141
4. Derivative Instruments and Hedging Activities .......................................... 167
5. Investment Securities .............................................................. 176
6. Collateralized Transactions ......................................................... 181
7. Loans and Allowance for Credit Losses ................................................ 185
8. Equity Method Investments ......................................................... 191
9. Goodwill and Net Intangible Assets ................................................... 191
10. Deposits ....................................................................... 193
11. Borrowings and Other Secured Financings ............................................ 194
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