v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 503.5 $ 502.7
Investments 38.1 48.3
Accounts receivable, less allowance for credit losses of $7.2 million and $7.1 million, respectively 384.0 358.1
Income tax receivable 18.0 12.4
Deferred commissions 38.6 39.2
Prepaid expenses 49.3 42.1
Other current assets 10.8 11.3
Total current assets 1,042.3 1,014.1
Goodwill 1,618.2 1,562.0
Intangible assets, net 413.3 408.8
Property, equipment, and capitalized software, less accumulated depreciation and amortization of $854.6 million and $790.4 million, respectively 225.6 218.9
Operating lease assets 164.5 181.2
Investments in unconsolidated entities 77.2 85.3
Deferred tax assets 51.9 43.2
Deferred commissions 28.8 26.6
Other assets 8.7 8.8
Total assets 3,630.5 3,548.9
Current liabilities:    
Deferred revenue 594.2 540.8
Accrued compensation 179.5 272.2
Accounts payable and accrued liabilities 90.2 87.3
Operating lease liabilities 39.3 35.1
Income tax payable 8.0 30.5
Other current liabilities 9.8 1.4
Total current liabilities 921.0 967.3
Operating lease liabilities 155.9 170.3
Accrued compensation 21.7 21.0
Deferred tax liabilities 29.9 27.6
Long-term debt 838.8 698.6
Deferred revenue 21.9 22.4
Income tax payable 13.1 11.7
Other long-term liabilities 13.7 11.4
Total liabilities 2,016.0 1,930.3
Morningstar, Inc. shareholders’ equity:    
Common stock, no par value, 200,000,000 shares authorized, of which 42,176,959 and 42,869,380 shares were outstanding as of June 30, 2025 and December 31, 2024, respectively 0.0 0.0
Treasury stock at cost, 12,773,450 and 12,010,630 shares as of June 30, 2025 and December 31, 2024, respectively (1,216.0) (993.9)
Additional paid-in capital 853.0 822.7
Retained earnings 2,038.2 1,909.2
Accumulated other comprehensive loss:    
Currency translation adjustment (60.7) (119.3)
Unrealized loss on available-for-sale investments 0.0 (0.1)
Total accumulated other comprehensive loss (60.7) (119.4)
Total equity 1,614.5 1,618.6
Total liabilities and equity $ 3,630.5 $ 3,548.9