Morningstar (MORN) annual balance sheet covering fiscal 2020 through 2025, as reported to the SEC.
Total assets have grown 5.9% a year on average since fiscal 2020, from $2.7B to $3.59B.
A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.
| Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets: | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||
474 | 502 | 337 | 376 | 483 | 422 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash and cash equivalents | 474 | 502 | 337 | 376 | 483 | 422 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Investments | |||||||||||||||||||||
54 | 48 | 51 | 38 | 62 | 41 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Investments | 54 | 48 | 51 | 38 | 62 | 41 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts receivable, less allowance for credit losses of $6.5 million and $7.1 million, respectively | |||||||||||||||||||||
390 | 358 | 343 | 307 | 268 | 205 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable, less allowance for credit losses of $6.5 million and $7.1 million, respectively | 390 | 358 | 343 | 307 | 268 | 205 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred tax asset, net | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred tax asset, net | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income tax receivable | |||||||||||||||||||||
16 | 12 | 0 | - | 8 | 2 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income tax receivable | 16 | 12 | 0 | - | 8 | 2 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred commissions | |||||||||||||||||||||
35 | 39 | 41 | 40 | 31 | 21 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred commissions | 35 | 39 | 41 | 40 | 31 | 21 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses | |||||||||||||||||||||
42 | 42 | 34 | 36 | 30 | 31 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses | 42 | 42 | 34 | 36 | 30 | 31 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other current assets | |||||||||||||||||||||
24 | 11 | 5 | 10 | 1 | 5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other current assets | 24 | 11 | 5 | 10 | 1 | 5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total current assets | |||||||||||||||||||||
1,038 | 1,014 | 815 | 810 | 887 | 730 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total current assets | 1,038 | 1,014 | 815 | 810 | 887 | 730 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Goodwill | |||||||||||||||||||||
1,610 | 1,562 | 1,578 | 1,571 | 1,207 | 1,205 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Goodwill | 1,610 | 1,562 | 1,578 | 1,571 | 1,207 | 1,205 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Intangible assets, net | |||||||||||||||||||||
379 | 408 | 484 | 548 | 328 | 380 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Intangible assets, net | 379 | 408 | 484 | 548 | 328 | 380 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Property, equipment, and capitalized software, less accumulated depreciation and amortization of $962.5 million and $899.9 million, respectively | |||||||||||||||||||||
231 | 218 | 207 | 199 | 171 | 155 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Property, equipment, and capitalized software, less accumulated depreciation and amortization of $962.5 million and $899.9 million, respectively | 231 | 218 | 207 | 199 | 171 | 155 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease assets | |||||||||||||||||||||
159 | 181 | 163 | 191 | 149 | 147 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease assets | 159 | 181 | 163 | 191 | 149 | 147 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Investments in unconsolidated entities | |||||||||||||||||||||
50 | 85 | 100 | 96 | 63 | 32 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Investments in unconsolidated entities | 50 | 85 | 100 | 96 | 63 | 32 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred tax assets, net | |||||||||||||||||||||
78 | 43 | 14 | 10 | 12 | 12 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred tax assets, net | 78 | 43 | 14 | 10 | 12 | 12 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred commissions | |||||||||||||||||||||
30 | 26 | 29 | 35 | 31 | 18 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred commissions | 30 | 26 | 29 | 35 | 31 | 18 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||||
12 | 8 | 8 | 10 | 11 | 14 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | 12 | 8 | 8 | 10 | 11 | 14 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total assets | |||||||||||||||||||||
3,590 | 3,548 | 3,403 | 3,474 | 2,862 | 2,696 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total assets | 3,590 | 3,548 | 3,403 | 3,474 | 2,862 | 2,696 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Liabilities and equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable and accrued liabilities | |||||||||||||||||||||
586 | 540 | 517 | 455 | 377 | 306 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable and accrued liabilities | 586 | 540 | 517 | 455 | 377 | 306 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued compensation | |||||||||||||||||||||
294 | 272 | 214 | 220 | 273 | 169 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued compensation | 294 | 272 | 214 | 220 | 273 | 169 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable and accrued liabilities | |||||||||||||||||||||
97 | 87 | 78 | 76 | 76 | 64 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable and accrued liabilities | 97 | 87 | 78 | 76 | 76 | 64 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Current portion of long-term debt | |||||||||||||||||||||
- | - | 32 | 32 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Current portion of long-term debt | - | - | 32 | 32 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease liabilities | |||||||||||||||||||||
41 | 35 | 36 | 37 | 36 | 39 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease liabilities | 41 | 35 | 36 | 37 | 36 | 39 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Contingent consideration liability | |||||||||||||||||||||
- | - | - | 50 | 17 | 35 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Contingent consideration liability | - | - | - | 50 | 17 | 35 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income tax payable | |||||||||||||||||||||
24 | 30 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income tax payable | 24 | 30 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other current liabilities | |||||||||||||||||||||
9 | 1 | 1 | 11 | 2 | 11 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other current liabilities | 9 | 1 | 1 | 11 | 2 | 11 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total current liabilities | |||||||||||||||||||||
1,053 | 967 | 880 | 882 | 783 | 626 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total current liabilities | 1,053 | 967 | 880 | 882 | 783 | 626 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease liabilities | |||||||||||||||||||||
146 | 170 | 151 | 176 | 135 | 137 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease liabilities | 146 | 170 | 151 | 176 | 135 | 137 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued compensation | |||||||||||||||||||||
20 | 21 | 23 | 20 | 16 | 35 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued compensation | 20 | 21 | 23 | 20 | 16 | 35 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred tax liabilities, net | |||||||||||||||||||||
27 | 27 | 35 | 62 | 101 | 108 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred tax liabilities, net | 27 | 27 | 35 | 62 | 101 | 108 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Long-term debt | |||||||||||||||||||||
1,072 | 698 | 940 | 1,077 | 359 | 449 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Long-term debt | 1,072 | 698 | 940 | 1,077 | 359 | 449 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenue | |||||||||||||||||||||
21 | 22 | 26 | 33 | 36 | 33 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenue | 21 | 22 | 26 | 33 | 36 | 33 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred rent | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred rent | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income tax payable | |||||||||||||||||||||
13 | 11 | 8 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income tax payable | 13 | 11 | 8 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other long-term liabilities | |||||||||||||||||||||
14 | 11 | 9 | 13 | 13 | 33 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other long-term liabilities | 14 | 11 | 9 | 13 | 13 | 33 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities | |||||||||||||||||||||
2,368 | 1,930 | 2,075 | 2,267 | 1,446 | 1,424 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities | 2,368 | 1,930 | 2,075 | 2,267 | 1,446 | 1,424 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity: | |||||||||||||||||||||
Morningstar, Inc. shareholders’ equity: | |||||||||||||||||||||
Common stock, no par value, 200,000,000 shares authorized, of which 37,513,530 and 39,740,881 shares were outstanding as of June 30, 2026 and December 31, 2025, respectively | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common stock, no par value, 200,000,000 shares authorized, of which 37,513,530 and 39,740,881 shares were outstanding as of June 30, 2026 and December 31, 2025, respectively | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Treasury stock at cost, 17,565,930 and 15,277,454 shares as of June 30, 2026 and December 31, 2025, respectively | |||||||||||||||||||||
1,785 | 993 | 985 | 986 | 764 | 767 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Treasury stock at cost, 17,565,930 and 15,277,454 shares as of June 30, 2026 and December 31, 2025, respectively | 1,785 | 993 | 985 | 986 | 764 | 767 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additional paid-in capital | |||||||||||||||||||||
869 | 822 | 789 | 757 | 689 | 671 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additional paid-in capital | 869 | 822 | 789 | 757 | 689 | 671 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Retained earnings | |||||||||||||||||||||
2,206 | 1,909 | 1,610 | 1,535 | 1,526 | 1,389 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Retained earnings | 2,206 | 1,909 | 1,610 | 1,535 | 1,526 | 1,389 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accumulated other comprehensive loss: | |||||||||||||||||||||
Currency translation adjustment | |||||||||||||||||||||
-68 | -119 | -86 | -99 | -40 | -25 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Currency translation adjustment | -68 | -119 | -86 | -99 | -40 | -25 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unrealized loss on available-for-sale investments | |||||||||||||||||||||
- | -0 | -0 | - | 5 | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unrealized loss on available-for-sale investments | - | -0 | -0 | - | 5 | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total accumulated other comprehensive loss | |||||||||||||||||||||
-68 | -119 | -86 | -99 | -35 | -22 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total accumulated other comprehensive loss | -68 | -119 | -86 | -99 | -35 | -22 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Morningstar, Inc. shareholders' equity | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Morningstar, Inc. shareholders' equity | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Noncontrolling interest | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Noncontrolling interest | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total equity | |||||||||||||||||||||
1,221 | 1,618 | 1,327 | 1,207 | 1,415 | 1,271 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total equity | 1,221 | 1,618 | 1,327 | 1,207 | 1,415 | 1,271 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities and equity | |||||||||||||||||||||
3,590 | 3,548 | 3,403 | 3,474 | 2,862 | 2,696 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities and equity | 3,590 | 3,548 | 3,403 | 3,474 | 2,862 | 2,696 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||