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b$=_ڬ5Ə)HݎIL#>=p |%?d a,Bv(Ϡ]u>9otx'3)~Hi {ic\Njq[΃nro]$sZer FBbk@'l 9ϰv? hG[/4>+c6r*)k9b ˶HkC /'Q_ۼv3;29ǥt_ Oqw#K*]Kr'R+MihׂXT2:zzc ^X7 2"_|y 9~o2`|`AVFFy(ڗݦx\m;PzxVa26QpsD06{MF[[Ǩe#+qj |ibI928q | e u,bW)lrIiMZ'>mﵵԡ)ÿ^%KūCy6f9f򌡶cw=HCgJYY\ϰ .f$a>̺/.ߦ[ɸ0ؕ  :߃YANImBH83Yiv7ۭ͆ X7'BQFHՔ f'%C>F)ozlqܕP; w}/ľ#k[K> ?0Qh_nvc;߅xđ2Do&⧅ f57VΑ[ws^KQN+t%MԈ*_>^0F*+شZQ[RX*퐐qVxG5v7\ XiK/?κ(s6u% ?5 >atg*q@oiMui2&ݙ^v݌g8xv2;EDH' VkdnnҌ27AGp q?JBtu!U}I=x.P\\LR A 0]k[iqm?bu)hZL sƓh"P=q{ T?-I+qzBxV;ai[mo.AZ.t)/m,\?|8x:WF K4b$B67$jMޛ;:Ew Dx8(49eKiH,w1'xsK>"w)Oc\G){eCm5?$ǧ]|'xJi6+!c:V>徧{^ȠJ g+KҼW[X-7jCt<8z",ii]oWԵb(.>ZZǂ4 i׺}ܖIY7SGv^_Myy HqL<cN-ΜcܓUg-7km%Z Vj8a#6|͌Egd䖵I^zX5xgºO߰PV;瑽X\Gv-[ͪ)WpA'~GҽNLm-"bAf(+^/1#"E_=xu+M7PkFilc?ZObK{hWlqQVh(((+~֝e8 kϾ鶗fY#mq#es׭{3 A@@   MORGAN STANLEYFinancial Supplement - 1Q 2012Table of ContentsPage #& & & & & .Quarterly Financial Summary3Quarterly Consolidated Income Statement Information$Quarterly Earnings Per Share Summary4 - 5AQuarterly Consolidated Financial Information and Statistical Data?Quarterly Institutional Securities Income Statement Information7 - 8MQuarterly Institutional Securities Financial Information and Statistical DataEQuarterly Global Wealth Management Group Income Statement InformationSQuarterly Global Wealth Management Group Financial Information and Statistical Data7Quarterly Asset Management Income Statement InformationEQuarterly Asset Management Financial Information and Statistical DataBCountry Risk Exposure - European Peripherals and France Appendix IEarnings Per Share Appendix II15 - 16 End Notes Legal NoticeQuarterly Financial Summary "(unaudited, dollars in millions) Quarter EndedPercentage Change From: Mar 31, 2012 Dec 31, 2011 Mar 31, 2011 Net revenuesInstitutional SecuritiesGlobal Wealth Management Group -- Asset ManagementIntersegment EliminationsConsolidated net revenues 9Income (loss) from continuing operations before tax  * EConsolidated income (loss) from continuing operations before tax -Income (loss) applicable to Morgan Stanley ;Consolidated income (loss) applicable to Morgan Stanley Financial Metrics:Return on average common equityfrom continuing operations*Tier 1 common capital ratioTier 1 capital ratioBook value per common share$Tangible book value per common shareNotes:- Results for the quarters ended March 31, 2012, December 31, 2011 and March 31, 2011 include positive (negative) revenue of $(1,978) million, $216 million and $(189) million, respectively, related to the movement in Morgan Stanley's credit spreads and other credit factors on certain long-term and short-term debt.- Income (loss) applicable to Morgan Stanley represents consolidated income (loss) from continuing operations applicable to Morgan Stanley before gain (loss) from discontinued operations.- The return on average common equity and tangible book value per common share are non-GAAP measures that the Firm considers to be a useful measureW that the Firm and investors use to assess operating performance and capital adequacy.a- Tier 1 common capital ratio equals Tier 1 common equity divided by Risk Weighted Assets (RWA). - Tier 1 capital ratio equals Tier 1 capital divided by RWA. See page 4 of the financial supplement for additional information related to this calculation.d- Book value per common share equals common equity divided by period end common shares outstanding. v- Tangible book value per common share equals tangible common equity divided by period end common shares outstanding. x- See page 4 of the financial supplement for additional information related to the calculation of the financial metrics.#- Refer to Legal Notice on page 17. (unaudited, dollars in millions) Revenues:Investment bankingPrincipal transactions:Trading Investments Commissions and fees.Asset management, distribution and admin. feesOther Total non-interest revenuesInterest incomeInterest expense Net interestNon-interest expenses:Compensation and benefits Non-compensation expenses:Occupancy and equipment%Brokerage, clearing and exchange fees)Information processing and communications"Marketing and business developmentProfessional services Total non-compensation expenses Total non-interest expenses5Income (loss) from continuing operations before taxes<Income tax provision / (benefit) from continuing operations ;(Income (loss) from continuing operations2Gain (loss) from discontinued operations after taxNet income (loss)8Net income (loss) applicable to noncontrolling interests.Net income (loss) applicable to Morgan Stanley Preferred stock dividend / Other@Earnings (loss) applicable to Morgan Stanley common shareholders%Amounts applicable to Morgan Stanley:Pre-tax profit margin0Compensation and benefits as a % of net revenues0Non-compensation expenses as a % of net revenues-Effective tax rate from continuing operations- Pre-tax profit margin is a non-GAAP financial measure that the Firm considers to be a useful measure that the Firm and investors use to assess operating | performance. Percentages represent income from continuing operations before income taxes as a percentage of net revenues.- For the quarter ended March 31, 2012, discontinued operations primarily reflected an after-tax loss related to the first phase of the previously announced disposition of Saxon (reported in the Institutional Securities business segment) and the operating results of Quilter Holdings Ltd., (Quilter) (reported in the- Global Wealth Management business segment).- The quarter ended December 31, 2011, Principal Transactions - Trading included a loss of $1,742 million related to the MBIA settlement (MBIA). - Other revenues for the quarter ended March 31, 2011, included a loss of approximately $655 million related to the 40% stake in a Japanese securities joint venture, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. ("MUMSS") controlled and managed by our partner, Mitsubishi UFJ Financial Group Inc.- The quarter ended March 31, 2011 included a discrete net tax benefit of $447 million from the remeasurement of a deferred tax asset and the reversal of a related valuation allowance that are both associated with the sale of Revel Entertainment Group, LLC (Revel). Excluding this discrete tax gain and taxf benefit of $230 million related to the MUMSS loss, the effective tax rate for the quarter was 27.8%.r- Preferred stock dividend / other includes allocation of earnings to Participating Restricted Stock Units (RSUs).Quarterly Earnings Per Share;(unaudited, dollars in millions, except for per share data)RNet income (loss) from continuing operations applicable to noncontrolling interest>Income from continuing operations applicable to Morgan StanleyLess: Preferred Dividends%Less: MUFG preferred stock conversionIncome from continuing operations applicable to Morgan Stanley, prior to allocation of income to Participating Restricted Stock UnitsBasic EPS Adjustments:DLess: Allocation of earnings to Participating Restricted Stock Units[Earnings (loss) from continuing operations applicable to Morgan Stanley common shareholdersYGain (loss) from discontinued operations after tax applicable to noncontrolling interestsOGain (loss) from discontinued operations after tax applicable to Morgan Stanley]Earnings (loss) from discontinued operations applicable to Morgan Stanley common shareholders2Average basic common shares outstanding (millions)Earnings per basic share:!Income from continuing operationsDiscontinued operationsEarnings per basic shareDiluted EPS Adjustments:JEarnings (loss) applicable to common shareholders plus assumed conversionsRAverage diluted common shares outstanding and common stock equivalents (millions) Earnings per diluted share:Earnings per diluted shareNotes: - The Firm calculates earnings per share using the two-class method as described under the accounting guidance for earnings per share. For further discussion of the Firm's earnings per share calculations, see page 14 of the financial supplement and Note 2 to the consolidated financial statements in the Firm's Annual Report on Form 10-K for the year ended December 31, 2011./ - Refer to Legal Notice on page 17. (unaudited)Regional revenues (1)Americas"EMEA (Europe, Middle East, Africa)AsiaConsolidated net revenuesWorldwide employeesFirmwide deposits Total assetsRisk weighted assets (2) Common equityPreferred equity#Morgan Stanley shareholders' equity2Junior subordinated debt issued to capital trusts (Less: Goodwill and intangible assets (3)$,Tangible Morgan Stanley sh< areholders' equityTangible common equityLeverage ratio12.9x12.5x14.9xTier 1 common capital (4)Tier 1 capital (5)Tier 1 leverage ratio,Period end common shares outstanding (000's)T- All data presented in millions except number of employees, ratios and book values.- Goodwill and intangible assets exclude noncontrolling interests and reflect the Firm's share of Morgan Stanley Smith Barney (MSSB) goodwill  and intangible assets.- Tangible common equity equals common equity less goodwill and intangible assets net of allowable mortgage servicing rights deduction.]- Leverage ratio equals total assets divided by tangible Morgan Stanley shareholders' equity.- Tier 1 leverage ratio equals Tier 1 capital divided by adjusted average total assets (which reflects adjustments for disallowed goodwill, certain ] intangible assets, deferred tax assets and financial and non-financial equity investments.)@- Refer to End Notes on pages 15-16 and Legal Notice on page 17. (unaudited, dollars in billions)!Average Tier 1 Common Capital (1)Parent capital Total - continuing operationsFirmAverage Common Equity (1)'Return on average Tier 1 common capitalNotes: - Beginning in the quarter ended March 31, 2012, Firm and segment required Capital is met by Tier 1 common capital. Prior to the current quarter, the Firm's required Capital was met by regulatory Tier 1 capital or Tier 1 common equity. Segment capital for prior quarters has been recast under this framework. Tier 1 common capital is defined as Tier 1 capital less non-common elements in Tier 1 capital, including perpetual preferred stock and related surplus, p minority interest in subsidiaries, trust preferred securities and mandatory convertible preferred securities. - The return on average common equity and average Tier 1 common capital are non-GAAP measures that the Firm considers to be useful measures that= the Firm and investors use to assess operating performance.Trading InvestmentsCompensation and benefits Non-compensation expensesTotal non-interest expenses 6Income (loss) from continuing operations before taxes 5;Income tax provision / (benefit) from continuing operations- Pre-tax profit margin is a non-GAAP financial measure that the Firm considers to be a useful measure that the Firm and investors use to assess operating performance. Percentages represent income from continuing operations before income taxes as a percentage of net revenues.- For the quarter ended March 31, 2012, discontinued operations included an after-tax loss related to the first phase of the previously announced  disposition of Saxon.- For the quarter ended December 31, 2011, Principal Transactions - Trading included a loss of $1,742 million related to MBIA. v- Other revenues for the quarter ended March 31, 2011 included a loss of approximately $655 million related to MUMSS. - The quarter ended March 31, 2011 included a discrete net tax benefit of $447 million from the remeasurement of a deferred tax asset and the reversal of a related valuation allowance that are both associated with the sale of Revel and the tax benefit of $230 related to the MUMSS loss.4Quarterly Financial Information and Statistical DataInvestment BankingAdvisory revenuesUnderwriting revenuesEquity Fixed incomeTotal underwriting revenues!Total investment banking revenuesSales & TradingFixed Income and CommoditiesOther"Total sales & trading net revenuesInvestments & Other"Total investments & other revenues+Total Institutional Securities net revenues5Average Daily 95% / One-Day Value-at-Risk ("VaR") (1)12Primary Market Risk Category ($ millions, pre-tax)Interest rate and credit spread Equity priceForeign exchange rateCommodity price&Aggregation of Primary Risk CategoriesCredit Portfolio VaR Trading VaR}- For the periods noted below, sales and trading net revenues included positive (negative) revenue related to DVA as follows:mMarch 31, 2012: Total: $(1,978) million; Fixed Income & Commodities: $(1,597) million; Equity: $(381) milliongDecember 31, 2011: Total: $216 million; Fixed Income & Commodities: $239 million; Equity: $(23) millionhMarch 31, 2011: Total: $(189) million; Fixed Income & Commodities: $(159) million; Equity: $(30) millionv- For the quarter ended Decemer 31, 2011, Fixed Income and Commodities sales and trading net revenues included a loss $ of $1,742 million related to MBIA.g- Other revenues for the quarter ended March 31, 2011 included a loss of $655 million related to MUMSS.:Institutional Securities - Corporate Loans and Commitments#Loans and commitments at fair valueCorporate funded loans:Investment gradeNon-investment gradeTotal corporate funded loansCorporate lending commitments:#Total corporate lending commitments0Corporate funded loans plus lending commitments:)Total loans and commitments at fair value% investment grade% non-investment grade#Held for investment (HFI) portfolioHeld for sale (HFS) portfolio Hedges- In connection with certain of its Institutional Securities business activities, the Firm provides loans or lending commitments to select clients related to its event driven or relationship lending activities. For a further discussion of this activity, see the Firm's Annual Report on Form 10-K for the year ended December 31,  2011.- On March 31, 2012, December 31, 2011 and March 31, 2011, the "event-driven" lending portfolio of pipeline commitments and closed deals to non-investmentR grade borrowers were $3.8 billion, $3.8 billion and $3.7 billion, respectively. - On March 31, 2012, December 31, 2011 and March 31, 2011, the HFI portfolio allowance for loan losses for funded loans of $15 million, $6 million and $0.3 million, respectively.- On March 31, 2012, December 31, 2011 and March 31, 2011, the HFI portfolio allowance for creditlosses for loan commitmentsof $12 million, $17 million and  $0 million, respectively.k- Held for sale portfolio reflects loans and commitments carried at the lower of cost or fair market value.\- The hedge balance reflects the notional amount utilized by the corporate lending business.Non-compensation expenses U- The tax provision / (benefit) for all periods includes the Firm's interest in MSSB.k- For the quarter ended March 31, 2012, discontinued operations included the operating results for Quilter.~- Net income (loss) applicable to noncontrolling interests reflects the 49% allocation of MSSB's pre-tax results to Citigroup.- Pre-tax profit margin is a non-GAAP financial measure that the Firm considers to be a useful measure that the Firm and investors x use to assess operating performance. Percentages represent income from continuing operations before income taxes as a  percentage of net revenues.Global representatives Annualized revenue per globalrepresentative (000's)#Assets by client segment (billions) $10m or more $1m - $10mSubtotal - > $1m $100k - $1m< $100kTotal client assets (billions)#% of assets by client segment > $1m*Fee-based client account assets (billions)(Fee-based assets as a % of client assetsBank deposit program (millions)Client assets per global representative (millions)'Global fee based asset flows (billions)Global retail locations- Annualized revenue per global representative is defined as annualized revenue divided by average global representative headcount.- Fee-based client account assets represent the amount of assets in client accounts where the basis of payment for services is a fee  calculated on those assets.y- For the quarters ended March 31, 2012, December 31, 2011 and March 31, 2011, approximately $57 billion, $56 billion andj $54 billion, respectively, of the assets in the bank deposit program are attributable to Morgan Stanley.- Global fee-based asset flows represent the net asset flows, excluding interest and dividends, in client accounts where the basis of ; payment for servi< ces is a fee calculated on those assets.- Client assets per global representative represents total client assets divided by period end global representative headcount.Trading Investments (1) <Net income (loss) applicable to noncontrolling interests (1)8- For the quarter ended December 31, 2011, discontinued operations primarily reflected a reduction in the carrying amount of certain guarantees related to 4 Crescent Real Estate Equities Limited Partnership. Mar 31, 2012 Dec 31, 2011 Mar 31, 2011 Net RevenuesTraditional Asset ManagementReal Estate Investing (1)Merchant Banking Total Asset Management&Assets under management or supervisionNet flows by asset class (2) Fixed Income Liquidity Alternatives"Total Traditional Asset ManagementReal Estate InvestingMerchant BankingTotal net flows9Assets under management or supervision by asset class (3)5#Total Traditional Asset Management ,Total Assets Under Management or SupervisionShare of minority stake assets- The alternatives asset class includes a range of investment products such as funds of hedge funds, funds of private equity funds and funds of real estate funds.- The share of minority stake assets represents Asset Management's proportional share of assets managed by entities in which it owns a minority stake.PThis page represents an addendum to the 1Q 2012 Financial Supplement, Appendix I;Country Risk Exposure (1) - European Peripherals and France!Three Months Ended March 31, 2012NetExposure CounterpartyFundedUnfundedCDSBeforeInventory (2) Exposure (3)  Lending CommitmentsAdjustment (4) Hedges (5) Net Exposure Greece Sovereigns Non-sovereigns Sub-totalIrelandItaly SpainPortugalTotal Euro Peripherals (6) France (6) (1)Country risk exposure is measured in accordance with the Firm s internal risk management standards and includes obligations from sovereign and non-sovereigns, which includes governments, corporations, *clearinghouses and financial institutions.(2)Net inventory representing exposure to both long and short single name positions (i.e., bonds and equities at fair value and CDS based on notional amount assuming zero recovery adjusted for any fair value receivable or payable).(3)Net counterparty exposure (i.e., repurchase transactions, securities lending and OTC derivatives) taking into consideration legally enforceable master netting agreements and collateral.(4)CDS adjustment represents credit protection purchased from European peripheral banks on European peripheral sovereign and financial institution risk, or French banks on French sovereign and financial institution risk. jBased on the CDS notional amount assuming zero recovery adjusted for any fair value receivable or payable.(5)Represents CDS hedges on net counterparty exposure and funded lending. Based on the CDS notional amount assuming zero recovery adjusted for any fair value receivable or payable. (6)In addition, at March 31, 2012, the Firm had European Peripherals and French exposure for overnight deposits with banks of approximately $222 million and $23 million, respectively.QThis page represents an addendum to the 1Q 2012 Financial Supplement, Appendix II7Earnings Per Share Calculation Under Two-Class Method 5(unaudited, in millions, except for per share data) 6Allocation of net income from continuing operations (A)(B)(C)(D)(E)(F)(G)(D)+(E)(F)/(A)Weighted Average # of Shares % Allocation (2) FNet income from continuing operations applicable to Morgan Stanley (3)CDistributed Earnings (4)Undistributed Earnings (5)Total Earnings Allocated Basic EPS (8) Basic Common Shares(Participating Restricted Stock Units (1)%(7)N/A9Allocation of gain (loss) from discontinued operations YGain (loss) from Discontinued Operations Applicable to Common Shareholders, after Tax (3)UUndistributed Earnings (5)=Allocation of net income applicable to common shareholders +Net income applicable to Morgan Stanley (3)'Distributed Earnings (4) Basic EPS (8) Note:A - Refer to End Notes on pages 15-16 and Legal Notice on page 17.Page 4:(1) |Reflects the regional view of the Firm's consolidated net revenues, on a managed basis, based on the following methodology: Institutional Securities: investment banking - client location, equity capital markets - client location, debt capital markets - revenue recording location, sales & trading - trading desk location. Global Wealth Management: financial advisor location. Asset Management:\client location except for the merchant banking business which is based on asset location. Risk weighted assets (RWA) are calculated in accordance with the regulatory capital requirements of the Federal Reserve. RWAs reflect both onand off-balance sheet risk of the Firm. Market RWAs reflect capital charges attributable to the risk of loss resulting from adverse changesin market prices and other factors. Credit RWAs reflect capital charges attributable to the risk of loss arising from a borrower or counterparty +failing to meet its financial obligations. Goodwill and intangible balances net of allowable mortgage servicing rights deduction for quarters ended March 31, 2012, December 31, 2011Oand March 31, 2011 of $89 million, $120 million and $130 million, respectively.In accordance with the Federal Reserve Board's formalized definition as of December 30, 2011, Tier 1 common capital is defined as Tier 1 capital less non-common elements in Tier 1 capital, including perpetual preferred stock and related surplus, minority interest in subsidiaries, trust preferred securities and mandatory convertible preferred securities. Prior periods have been recast to conform to this definition. This computation is a preliminary estimate as of April 19, 2012 (the date of this release) and could be subject to revision in Morgan Stanley s Quarterly Report on /Form 10-Q for the quarter ended March 31, 2012.Tier 1 capital consists predominately of common shareholders' equity as well as qualifying preferred stock and qualifying restricted core capital elements (trust preferred securities and noncontrolling interests) less goodwill, non-servicing intangible assets (excluding allowable mortgage servicing rights), net deferred tax assets (recoverable in excess of one year), an after-tax debt valuation adjustment and certain other deductions, including equity investments. This computation is a preliminary estimate as of April 19, 2012 (the date of this release) and could be subject to `revision in Morgan Stanley s Quarterly Report on Form 10-Q for the quarter ended March 31, 2012.Page 5:The Firm s capital estimation is based on the Required Capital framework, an internal capital adequacy measure which considers a risk-based going concern capital after absorbing potential losses from extreme stress events at a point in time. Beginning in the quarter ended March 31, 2012, the Firm's Required Capital is met by Tier 1 common capital. Tier 1 common capital and common equity attribution to business segment is based on capital usage calculated by the framework. The difference between the Firm's Tier 1 common capital and aggregate Required Capital is the Firm's Parent capital. The Firm generally holds pare<nt capital for prospective regulatory requirements, including Basel III, organic growth, acquisitions and other capital needs. The Required Capital framework will continue to evolve over time in response to changes in the business Rand regulatory environment and to incorporate enhancements in modeling techniques.Page 7:Represents the loss amount that one would not expect to exceed, on average, more than five times every one hundred trading days inthe Firm's trading positions if the portfolio were held constant for a one-day period. Trading VaR for all primary market risk categories has been recast for all periods to exclude Credit Portfolio VaR which includes mark-to-market relationship lending exposures and associatedhedges as well as counterparty credit risk valuation adjustments including its related hedges. Credit Portfolio VaR is disclosed as a separate category. The Firm considers this new allocation method to be a more transparent view of the Firm's traded market risk. For furtherdiscussion of the calculation of VaR and the limitations of the Firm's VaR methodology, see Part II, Item 7A "Quantitative and Qualitative `Disclosures about Market Risk" included in the Firm's 10-K for the year ended December 31, 2011.Page 11:{The quarters ended March 31, 2012, December 31, 2011 and March 31, 2011 include investment gains (losses) for certain funds included in the Firm's consolidated financial statements. The limited partnership interests in these gains were reported in net income (loss) 'applicable to noncontrolling interests.Page 12:Real Estate Investing revenues include gains or losses related to principal investments held by certain consolidated real estate funds. These gains or losses are offset in the net income (loss) applicable to noncontrolling interest. The investment gains (losses) for the quarters ended March 31, 2012, December 31, 2011 and March 31, 2011 are $67 million, $45 million and $42 million, respectively.yNet Flows by region [inflow / (outflow)] for the quarters ended March 31, 2012, December 31, 2011 and March 31, 2011 are:<North America: $(2.5) billion, $8.6 billion and $0.1 billion:International: $2.7 billion, $5.9 billion and $1.3 billionnAssets under management or supervision by region for the quarters ended March 31, 2012, December 31, 2011 and March 31, 2011 are::North America: $195 billion, $187 billion and $176 billion:International: $109 billion, $100 billion and $100 billionPage 14:Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid)are participating securities and are included in the computation of EPS pursuant to the two-class method. Restricted Stock Units ("RSUs")that pay dividend equivalents subject to vesting are not deemed participating securities and are included in diluted shares outstanding.(if dilutive) under the treasury stock method.(2) zThe percentage of weighted basic common shares and participating RSUs to the total weighted average of basic common sharesand participating RSUs.(3) Represents net income from continuing operations, gain (loss) from discontinued operations (after tax), and net income applicable bto Morgan Stanley for the quarter ended March 31, 2012 prior to allocations to participating RSUs.(4) Distributed earnings represent the dividends declared on common shares and participating RSUs for the quarter ended March 31, 2012.}The amount of dividends declared is based upon the number of common shares outstanding as of the dividend record date. Duringtthe quarter ended March 31, 2012, a $0.05 dividend was declared on common shares outstanding and participating RSUs.(5) The two-class method assumes all of the earnings for the reporting period are distributed and allocates to the participating RSUsowhat they would be entitled to based on their contractual rights and obligations of the participating security.(6) }Total income applicable to common shareholders to be allocated to the common shares in calculating basic and diluted EPS for common shares.(7) Total income applicable to common shareholders to be allocated to the participating RSUs reflected as a deduction to the numerator in 4determining basic and diluted EPS for common shares.(8) Basic and diluted EPS data are required to be presented only for classes of common stock, as described under the accounting guidance for earnings per share.This Financial Supplement contains financial, statistical and business-related information, as well as business and segment trends.yThe information should be read in conjunction with the Firm's first quarter earnings press release issued April 19, 2012. 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