10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MORGAN STANLEY | |||
Ticker: MS Fiscal Year: 2010 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 3 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Revenues: | |||
| Investment banking | $ 5,122 | 5,020 | 196 |
| Principal transactions: | |||
| Trading | 9,406 | 7,722 | (1,491) |
| Investments | 1,825 | (1,034) | (205) |
| Commissions | 4,947 | 4,233 | 213 |
| Asset management, distribution and administration fees | 7,957 | 5,884 | 292 |
| Other | 1,501 | 837 | 109 |
| Total non-interest revenues | 30,758 [1] | 22,662 | (886) |
| Interest income | 7,278 | 7,477 | 1,089 |
| Interest expense | 6,414 | 6,705 | 1,140 |
| Net interest | 864 | 772 | (51) |
| Net revenues | 31,622 | 23,434 | (937) |
| Non-interest expenses: | |||
| Compensation and benefits | 16,048 | 14,434 | 582 |
| Occupancy and equipment | 1,570 | 1,542 | 123 |
| Brokerage, clearing and exchange fees | 1,431 | 1,190 | 91 |
| Information processing and communications | 1,665 | 1,372 | 95 |
| Marketing and business development | 582 | 501 | 34 |
| Professional services | 1,911 | 1,597 | 109 |
| Other | 2,213 | 1,815 | 23 |
| Total non-interest expenses | 25,420 | 22,451 | 1,057 |
| Income (loss) from continuing operations before income taxes | 6,202 | 983 | (1,994) |
| Provision for (benefit from) income taxes | 739 | (341) | (725) |
| Income (loss) from continuing operations | 5,463 | 1,324 | (1,269) |
| Discontinued operations: | |||
| Gain (loss) from discontinued operations | 606 | 33 | (14) |
| Provision for (benefit from) income taxes | 367 | (49) | 2 |
| Net gain (loss) from discontinued operations | 239 | 82 | (16) |
| Net income (loss) | 5,702 | 1,406 | (1,285) |
| Net income applicable to noncontrolling interests | 999 | 60 | 3 |
| Net income (loss) applicable to Morgan Stanley | 4,703 | 1,346 | (1,288) |
| Earnings (loss) applicable to Morgan Stanley common shareholders | 3,594 | (907) | (1,624) |
| Amounts applicable to Morgan Stanley: | |||
| Income (loss) from continuing operations | 4,464 | 1,280 | (1,269) |
| Net gain (loss) from discontinued operations | 239 | 66 | (19) |
| Net income (loss) applicable to Morgan Stanley | 4,703 | 1,346 | (1,288) |
| Earnings (loss) per basic common share: | |||
| Income (loss) from continuing operations | 2.48 | (0.82) | (1.60) |
| Net gain (loss) from discontinued operations | 0.16 | 0.05 | (0.02) |
| Earnings (loss) per basic common share | 2.64 | (0.77) | (1.62) |
| Earnings (loss) per diluted common share: | |||
| Income (loss) from continuing operations | 2.44 | (0.82) | (1.60) |
| Net gain (loss) from discontinued operations | 0.19 | 0.05 | (0.02) |
| Earnings (loss) per diluted common share | 2.63 | (0.77) | (1.62) |
| Average common shares outstanding: | |||
| Basic | 1,361,670,938 | 1,185,414,871 | 1,002,058,928 |
| Diluted | 1,411,268,971 | 1,185,414,871 | 1,002,058,928 |
| [1] In the fourth quarter of 2010, the Company recognized a pre-tax gain of $176 million in net revenues upon application of the OIS curve within the Institutional Securities business segment (see Note 4). | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MORGAN STANLEY | |||
Ticker: MS Fiscal Year: 2010 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 3 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Net income (loss) | $ 5,702 | 1,406 | (1,285) |
| Other comprehensive income (loss), net of tax: | |||
| Foreign currency translation adjustments | 221 | 112 | (96) |
| Amortization of cash flow hedges | 9 | 13 | 2 |
| Net unrealized gain on securities available for sale | 36 [1] | ||
| Pension, postretirement and other related adjustments | (20) | (273) | (201) |
| Comprehensive income (loss) | 5,948 | 1,258 | (1,580) |
| Net income applicable to noncontrolling interests | 999 | 60 | 3 |
| Other comprehensive income (loss) applicable to non-controlling interests | 153 | (8) | |
| Comprehensive income (loss) applicable to Morgan Stanley | 4,796 | 1,206 | (1,583) |
| [1] Amounts are net of provision for income taxes of $25 million for 2010. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MORGAN STANLEY | |||
Ticker: MS Fiscal Year: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 3 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income (loss) | $ 5,702 | 1,406 | (1,285) |
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||
| Deferred income taxes | (129) | (932) | (781) |
| Compensation payable in common stock and options | 1,260 | 1,265 | 77 |
| Depreciation and amortization | 1,419 | 1,224 | 104 |
| Gain on business dispositions | (570) | (606) | |
| Gain on sale of stake in China International Capital Corporation Limited | (668) | ||
| Gains on curtailments of postretirement plans | (54) | ||
| Gains on sale of securities available for sale | (102) | ||
| Gain on repurchase of long-term debt | (491) | (73) | |
| Insurance reimbursement | (76) | ||
| Loss on assets held for sale | 1,190 | ||
| Impairment charges and other-than-temporary impairment charges | 201 | 823 | |
| Changes in assets and liabilities: | |||
| Cash deposited with clearing organizations or segregated under federal and other regulations or requirements | 4,532 | 211 | 1,407 |
| Financial instruments owned, net of financial instruments sold, not yet purchased | 19,169 | (26,130) | 2,412 |
| Securities borrowed | 28,771 | (79,449) | (2,267) |
| Securities loaned | 2,848 | 11,666 | (241) |
| Receivables, loans and other assets | (9,568) | (2,445) | 1,479 |
| Payables and other liabilities | 761 | 818 | 11,481 |
| Federal funds sold and securities purchased under agreements to resell | (5,045) | (20,499) | (16,290) |
| Securities sold under agreements to repurchase | (9,334) | 67,188 | (10,188) |
| Net cash provided by (used for) operating activities | 40,307 | (45,951) | (14,165) |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Net proceeds from (payments for): | |||
| Premises, equipment and software costs | (1,201) | (2,877) | (107) |
| Business acquisitions, net of cash acquired | (1,042) | (2,160) | |
| Business dispositions, net of cash disposed | 840 | 565 | |
| MUFG transaction | 247 | ||
| Sale of stake in China International Capital Corporation | 989 | ||
| Purchases of securities available for sale | (29,989) | ||
| Sales and redemptions of securities available for sale | 999 | ||
| Net cash used for investing activities | (29,157) | (4,472) | (107) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Net proceeds from (payments for): | |||
| Commercial paper and other short-term borrowings | 878 | (7,724) | (381) |
| Dividends related to noncontrolling interests | (332) | ||
| Derivatives financing activities | (85) | (85) | (3,354) |
| Other secured financings | (751) | (4,437) | 12 |
| Deposits | 1,597 | 10,860 | 8,600 |
| Net proceeds from: | |||
| Excess tax benefits associated with stock-based awards | 5 | 102 | |
| Public offerings and other issuances of common stock | 5,581 | 6,255 | 4 |
| Issuance of long-term borrowings | 32,523 | 43,960 | 13,590 |
| Payments for: | |||
| Long-term borrowings | (28,201) | (33,175) | (5,694) |
| Series D Preferred Stock and Warrant | (10,950) | ||
| Redemption of junior subordinated debentures related to China Investment Corporation | (5,579) | ||
| Repurchases of common stock for employee tax withholding | (317) | (50) | (3) |
| Cash dividends | (1,156) | (1,732) | |
| Net cash provided by (used for) financing activities | 4,163 | 3,024 | 12,774 |
| Effect of exchange rate changes on cash and cash equivalents | 14 | 720 | 1,514 |
| Effect of cash and cash equivalents related to variable interest entities | 297 | ||
| Net increase (decrease) in cash and cash equivalents | 15,624 | (46,679) | 16 |
| Cash and cash equivalents, at beginning of period | 31,991 | 78,670 | |
| Cash and cash equivalents, at end of period | 47,615 | 31,991 | 78,670 |
| Cash and cash equivalents include: | |||
| Cash and due from banks | 7,341 | 6,988 | 13,354 |
| Interest bearing deposits with banks | 40,274 | 25,003 | 65,316 |
| Cash and cash equivalents, at end of period | 47,615 | 31,991 | 78,670 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MORGAN STANLEY | ||
Ticker: MS Fiscal Year: 2010 | ||
Consolidated Statements of Financial Condition | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 28, 2011) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2010 | Dec 31, 2009 | |
| Assets | ||
| Cash and due from banks ($297 at December 31, 2010 related to consolidated variable interest entities generally not available to the Company) | $ 7,341 | 6,988 |
| Interest bearing deposits with banks | 40,274 | 25,003 |
| Cash deposited with clearing organizations or segregated under federal and other regulations or requirements | 19,180 | 23,712 |
| Financial instruments owned, at fair value (approximately $130 billion and $101 billion were pledged to various parties at December 31, 2010 and December 31, 2009, respectively): | ||
| U.S. government and agency securities | 48,446 | 62,215 |
| Other sovereign government obligations | 33,908 | 25,445 |
| Corporate and other debt ($3,816 at December 31, 2010 related to consolidated variable interest entities, generally not available to the Company) | 88,154 | 90,454 |
| Corporate equities ($625 at December 31, 2010 related to consolidated variable interest entities, generally not available to the Company) | 68,416 | 57,968 |
| Derivative and other contracts | 51,292 | 49,081 |
| Investments ($1,873 at December 31, 2010 related to consolidated variable interest entities, generally not available to the Company) | 9,752 | 9,286 |
| Physical commodities | 6,778 | 5,329 |
| Total financial instruments owned, at fair value | 306,746 | 299,778 |
| Securities available for sale, at fair value | 29,649 | |
| Securities received as collateral, at fair value | 16,537 | 13,656 |
| Federal funds sold and securities purchased under agreements to resell | 148,253 | 143,208 |
| Securities borrowed | 138,730 | 167,501 |
| Receivables: | ||
| Customers | 35,258 | 27,594 |
| Brokers, dealers and clearing organizations | 9,102 | 5,719 |
| Fees, interest and other | 9,790 | 11,164 |
| Loans (net of allowances of $82 at December 31, 2010 and $158 at December 31, 2009) | 10,576 | 7,259 |
| Other investments | 5,412 | 3,752 |
| Premises, equipment and software costs (net of accumulated depreciation of $4,476 and $3,734 at December 31, 2010 and December 31, 2009, respectively) ($321 at December 31, 2010 related to consolidated variable entities, generally not available to the Company) | 6,154 | 7,067 |
| Goodwill | 6,739 | 7,162 [1] |
| Intangible assets (net of accumulated amortization of $605 and $275 at December 31, 2010 and December 31, 2009, respectively) (includes $157 and $137 at fair value at December 31, 2010 and December 31, 2009, respectively) | 4,667 | 5,054 |
| Other assets | 13,290 | 16,845 |
| Total assets | 807,698 | 771,462 [2] |
| Liabilities and Equity | ||
| Deposits (includes $3,027 and $4,967 at fair value at December 31, 2010 and December 31, 2009, respectively) | 63,812 | 62,215 |
| Commercial paper and other short-term borrowings (includes $1,799 and $791 at fair value at December 31, 2010 and December 31, 2009, respectively) | 3,256 | 2,378 |
| Financial instruments sold, not yet purchased, at fair value: | ||
| U.S. government and agency securities | 27,948 | 20,503 |
| Other sovereign government obligations | 22,250 | 18,244 |
| Corporate and other debt | 10,918 | 7,826 |
| Corporate equities | 19,838 | 22,601 |
| Derivative and other contracts | 47,802 | 38,209 |
| Total financial instruments sold, not yet purchased, at fair value | 128,756 | 107,383 |
| Obligation to return securities received as collateral, at fair value | 21,163 | 13,656 |
| Securities sold under agreements to repurchase (includes $849 at fair value at December 31, 2010) | 147,598 | 159,401 |
| Securities loaned | 29,094 | 26,246 |
| Other secured financings (includes $8,490 and $8,102 at fair value at December 31, 2010 and December 31, 2009, respectively) ($2,656 at December 31, 2010 related to consolidated variable interest entities and are non-recourse to the Company) | 10,453 | 8,102 [3] |
| Payables: | ||
| Customers | 123,249 | 117,058 |
| Brokers, dealers and clearing organizations | 3,363 | 5,423 |
| Interest and dividends | 2,572 | 2,597 |
| Other liabilities and accrued expenses | 16,518 | 20,849 |
| Long-term borrowings (includes $42,709 and $37,610 at fair value at December 31, 2010 and December 31, 2009, respectively) | 192,457 | 193,374 |
| Liabilities | 742,291 | 718,682 |
| Commitments and contingent liabilities (see Note 13) | ||
| Equity | ||
| Morgan Stanley shareholders' equity: | ||
| Preferred stock | 9,597 | 9,597 |
| Common stock, $0.01 par value; Shares authorized: 3,500,000,000 at December 31, 2010 and December 31, 2009; Shares issued: 1,603,913,074 at December 31, 2010 and 1,487,850,163 at December 31, 2009; Shares outstanding: 1,512,022,095 at December 31, 2010 and 1,360,595,214 at December 31, 2009 | 16 | 15 |
| Paid-in capital | 13,521 | 8,619 |
| Retained earnings | 38,603 | 35,056 |
| Employee stock trust | 3,465 | 4,064 |
| Accumulated other comprehensive loss | (467) | (560) |
| Common stock held in treasury, at cost, $0.01 par value; 91,890,979 shares at December 31, 2010 and 127,254,949 shares at December 31, 2009 | (4,059) | (6,039) |
| Common stock issued to employee trust | 3,465 | 4,064 |
| Total Morgan Stanley shareholders' equity | 57,211 | 46,688 |
| Noncontrolling interests | 8,196 | 6,092 |
| Total equity | 65,407 | 52,780 |
| Total liabilities and equity | 807,698 | 771,462 |
| [1] The Asset Management business segment amount at December 31, 2009 included approximately $404 million related to Retail Asset Management. | The amount of the Company's goodwill before accumulated impairments of $700 million and $673 million at December 31, 2010 and December 31, 2009, respectively, was $7,439 million and $7,835 million at December 31, 2010 and December 31, 2009, respectively. | ||
| [2] Corporate assets have been fully allocated to the Company's business segments. | ||
| [3] Amounts include $8,490 million at fair value at December 31, 2010 and $8,102 million at fair value at December 31, 2009. | ||
| External Links | |
| MORGAN STANLEY (MS) Fiscal Year 2010 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |