Morningstar, Inc. (MORN) financial statements (2022 and earlier)

Company profile

Business Address 22 WEST WASHINGTON STREET
CHICAGO, IL 60602
State of Incorp. IL
Fiscal Year End December 31
SIC 6282 - Investment Advice (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments546464368396353304249
Cash and cash equivalents484423334369308259207
Short-term investments62423327454542
Receivables278207195174148146139
Prepaid expense31      
Capitalized contract cost31211715
Other current assets2372417282222
Total current assets:888730603602530472410
Noncurrent Assets
Operating lease, right-of-use asset149148145
Property, plant and equipment172155155144147152135
Long-term investments and receivables63336063624036
Long-term investments63336063624036
Intangible assets, net (including goodwill)1,5351,5851,373631660678438
Goodwill1,2071,2051,039557565557364
Intangible assets, net (excluding goodwill)328380333749512174
Capitalized contract cost, net31191410
Deferred income tax assets1313 
Other noncurrent assets12141256911
Other undisclosed noncurrent assets  11    
Total noncurrent assets:1,9751,9661,768852876879619
TOTAL ASSETS:2,8632,6962,3711,4541,4061,3511,029
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities274169138110927281
Employee-related liabilities274169138110927281
Deferred revenue377307250
Debt  11   35
Deferred revenue and credits171165141
Other liabilities2113311139
Other undisclosed current liabilities13013995250494539
Total current liabilities:784627496363323295304
Noncurrent Liabilities
Long-term debt and lease obligation495587641    
Long-term debt, excluding current maturities359449502    
Operating lease, liability136138139
Liabilities, other than long-term debt1521764475869975
Deferred revenue and credits272525
Deferred revenue363432
Contract with customer, liability14
Deferred rent credit   25
Deferred tax liabilities, net22243820
Deferred income tax liabilities102109 
Other liabilities14341114353630
Other undisclosed noncurrent liabilities1635107821922609
Total noncurrent liabilities:66379879215627835984
Total liabilities:1,4471,4251,287519601654388
Stockholders' equity
Stockholders' equity attributable to parent1,4161,2711,084935805697640
Treasury stock, value(764)(767)(729)(727)(708)(668)(620)
Additional paid in capital689671655622601584576
Accumulated other comprehensive loss(35)(22)(61)(75)(47)(82)(55)
Retained earnings1,5271,3891,2181,115959862739
Stockholders' equity attributable to noncontrolling interest     00
Total stockholders' equity:1,4161,2711,084935805697641
TOTAL LIABILITIES AND EQUITY:2,8632,6962,3711,4541,4061,3511,029

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,6991,3901,1791,020912799789
Revenue, net912799789
Cost of revenue(785)(634)(562)(485)(452)(394)(372)
Cost of goods and services sold(698)(556)(483)(411)(387)(344)(330)
Gross profit:914755617535460404417
Operating expenses(657)(540)(427)(320)(290)(224)(226)
Operating income:257215190216170181191
Nonoperating income (expense)(7)6891711443
Investment income, nonoperating13020162011
Other nonoperating income (expense)(4)(6)(3)2(5)61
Income from continuing operations before equity method investments, income taxes:251283199233181225194
Income (loss) from equity method investments50(1)(2)(1)(0)2
Income from continuing operations before income taxes:256283198231180225196
Income tax expense(63)(60)(46)(48)(43)(64)(63)
Net income:193224152183137161133
Net loss attributable to noncontrolling interest      (0)
Net income available to common stockholders, diluted:193224152183137161133

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:193224152183137161133
Other comprehensive income (loss)(13)3914(28)35(27)(30)
Comprehensive income:180262166155172134103
Comprehensive loss, net of tax, attributable to noncontrolling interest      (0)
Comprehensive income, net of tax, attributable to parent:180262166155172134103

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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