Morningstar, Inc. (MORN) financial statements (2021 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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments368396353304249225
Cash and cash equivalents334369308259207185
Short-term investments332745454239
Receivables195174148146139144
Capitalized contract cost1715
Other current assets241728222223
Other undisclosed current assets     9
Total current assets:603602530472410400
Noncurrent Assets
Operating lease, right-of-use asset145
Property, plant and equipment155144147152135118
Long-term investments and receivables606362403629
Long-term investments606362403629
Intangible assets, net (including goodwill)1,373631660678438466
Goodwill1,039557565557364370
Intangible assets, net (excluding goodwill)33374951217496
Capitalized contract cost, net1410
Other noncurrent assets12569117
Other undisclosed noncurrent assets11     
Total noncurrent assets:1,768852876879619620
TOTAL ASSETS:2,3711,4541,4061,3511,0291,019
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities13811092728180
Employee-related liabilities13811092728180
Deferred revenue250
Debt11   3530
Deferred revenue and credits171165141146
Other liabilities33111393
Other undisclosed current liabilities9525049453934
Total current liabilities:496363323295304294
Noncurrent Liabilities
Long-term debt and lease obligation641     
Long-term debt, excluding current maturities502     
Operating lease, liability139
Liabilities, other than long-term debt447586997563
Deferred revenue and credits27252526
Deferred revenue32
Contract with customer, liability14
Deferred rent credit 25
Deferred tax liabilities, net2224382026
Other liabilities111435363011
Other undisclosed noncurrent liabilities1078219226098
Total noncurrent liabilities:7921562783598471
Total liabilities:1,287519601654388365
Stockholders' equity
Stockholders' equity attributable to parent1,084935805697640653
Common stock     0
Treasury stock, value(729)(727)(708)(668)(620)(524)
Additional paid in capital655622601584576561
Accumulated other comprehensive loss(61)(75)(47)(82)(55)(25)
Retained earnings1,2181,115959862739642
Stockholders' equity attributable to noncontrolling interest   001
Total stockholders' equity:1,084935805697641654
TOTAL LIABILITIES AND EQUITY:2,3711,4541,4061,3511,0291,019

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues1,1791,020912799789760
Revenue, net912799789760
Cost of revenue(562)(485)(452)(394)(372)(349)
Cost of goods and services sold(483)(411)(387)(344)(330)(319)
Gross profit:617535460404417411
Operating expenses(427)(320)(290)(224)(226)(305)
Operating income:190216170181191106
Nonoperating income917114438
Investment income, nonoperating201620111
Other nonoperating income (expense)(3)2(5)610
Income from continuing operations before equity method investments, income taxes:199233181225194114
Income (loss) from equity method investments(1)(2)(1)(0)20
Income from continuing operations before income taxes:198231180225196114
Income tax expense(46)(48)(43)(64)(63)(36)
Net income:15218313716113378
Net income (loss) attributable to noncontrolling interest    (0)0
Net income attributable to parent:15218313716113378
Other undisclosed net loss available to common stockholders, basic     (0)
Net income available to common stockholders, diluted:15218313716113378

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:15218313716113378
Other comprehensive income (loss)14(28)35(27)(30)(30)
Comprehensive income:16615517213410348
Comprehensive income (loss), net of tax, attributable to noncontrolling interest    (0)0
Comprehensive income, net of tax, attributable to parent:16615517213410348

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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