| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | |||||||||||
1,179,000 | 1,019,900 | 911,700 | 798,600 | 788,800 | 760,100 | 698,300 | 658,288 | 631,400 | 555,351 | 478,996 | 502,457 |
Operating expense: | |||||||||||
Cost of revenue | |||||||||||
483,100 | 411,100 | 386,600 | 344,300 | 330,100 | 318,600 | 271,400 | 246,783 | 235,289 | 157,068 | 128,616 | 130,085 |
Development | |||||||||||
- | - | - | - | - | - | - | - | - | 49,244 | 38,378 | 40,340 |
Sales and marketing | |||||||||||
177,900 | 148,500 | 134,300 | 97,600 | 96,600 | 111,100 | 103,600 | 108,884 | 106,699 | 95,473 | 71,772 | 81,651 |
General and administrative | |||||||||||
210,700 | 147,800 | 129,800 | 105,200 | 107,100 | 108,900 | 106,900 | 108,857 | 108,084 | 92,843 | 83,596 | 85,509 |
Depreciation and amortization | |||||||||||
117,700 | 96,700 | 91,200 | 70,700 | 64,400 | 54,900 | 45,700 | 43,096 | 42,913 | 39,664 | 31,961 | 25,996 |
Litigation Settlement | |||||||||||
- | - | - | - | - | -61,000 | 0 | 0 | - | - | - | - |
Total operating expense | |||||||||||
989,400 | 804,100 | 741,900 | 617,800 | 598,200 | 654,500 | 527,600 | 507,620 | 492,985 | 434,292 | 354,323 | 363,581 |
Operating income | |||||||||||
189,600 | 215,800 | 169,800 | 180,800 | 190,600 | 105,600 | 170,700 | 150,668 | 138,415 | 121,059 | 124,673 | 138,876 |
Non-operating expense, net: | |||||||||||
Interest expense, net | |||||||||||
-8,700 | -1,800 | -3,600 | 300 | 1,300 | 2,100 | 2,700 | 5,153 | 2,361 | 2,437 | 3,016 | 5,687 |
Gain on sale of investments, reclassified from other comprehensive income | |||||||||||
1,200 | 1,000 | 3,200 | 600 | 600 | 1,000 | 4,200 | 538 | 260 | - | - | - |
Gain (Loss) on Disposition of Business | |||||||||||
0 | 0 | 16,700 | 0 | - | - | - | - | - | - | - | - |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | |||||||||||
0 | 10,500 | 0 | 0 | 0 | - | - | - | - | - | - | - |
Equity Method Investment, Realized Gain (Loss) on Disposal | |||||||||||
19,500 | 5,600 | 0 | 0 | - | - | - | - | - | - | - | - |
Equity Method Investments Holding Gain | |||||||||||
- | - | - | 37,100 | 0 | 5,200 | 3,600 | 0 | 0 | - | - | - |
Other expense, net | |||||||||||
-3,100 | 1,800 | -5,000 | 6,100 | 1,200 | 100 | -3,200 | -2,734 | -912 | 4,295 | -82 | -1,435 |
Non-operating expense, net | |||||||||||
8,900 | 17,100 | 11,300 | 44,100 | 3,100 | 8,400 | 7,300 | 2,957 | 1,709 | 6,732 | 2,934 | 4,252 |
Income before income taxes and equity in net loss of unconsolidated entities | |||||||||||
198,500 | 232,900 | 181,100 | 224,900 | 193,700 | 114,000 | 178,000 | 153,625 | 140,124 | 127,791 | 127,607 | 143,128 |
Equity in net loss of unconsolidated entities | |||||||||||
-900 | -2,100 | -1,300 | -200 | 1,800 | 0 | 1,400 | 2,027 | 1,848 | 1,422 | 1,165 | 1,321 |
Income tax expense | |||||||||||
45,600 | 47,800 | 42,900 | 63,700 | 62,700 | 35,700 | 56,000 | 52,878 | 43,658 | 42,756 | 46,775 | 54,423 |
Consolidated Net Income from Continuing Operations | |||||||||||
- | - | - | - | - | - | - | 102,774 | 98,314 | 86,457 | - | - |
Gain on Sale of Discontinued Operation, Net of Tax | |||||||||||
- | - | - | - | - | - | - | 5,188 | 0 | 0 | - | - |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | |||||||||||
152,000 | 183,000 | 136,900 | 161,000 | 132,800 | 78,300 | 123,400 | 107,962 | 98,314 | 86,457 | 81,997 | 90,026 |
Net Income (Loss) Available to Common Stockholders, Basic | |||||||||||
- | 183,000 | 136,900 | - | - | - | - | - | - | - | - | - |
Net income attributable to the noncontrolling interest | |||||||||||
- | - | - | - | 200 | 0 | -100 | -117 | -43 | 87 | -132 | 397 |
Net income attributable to Morningstar, Inc. | |||||||||||
- | - | - | - | 132,600 | 78,300 | 123,500 | 108,079 | 98,357 | 86,370 | 82,129 | 89,629 |
Net Income from Continuing Operations, net of tax | |||||||||||
- | - | - | - | - | - | - | 102,891 | 98,357 | 86,370 | - | - |
Net Income from Discontinued Operations, Net of Tax | |||||||||||
- | - | - | - | - | - | - | 5,188 | 0 | 0 | - | - |
Earnings Per Share [Abstract] | |||||||||||
Earnings Per Share, Basic | |||||||||||
3.56 | 4.30 | 3.21 | 3.74 | 3.00 | 1.75 | 2.68 | 2.23 | 1.96 | 1.75 | 1.71 | 1.94 |
Earnings Per Share, Diluted | |||||||||||
3.52 | 4.25 | 3.18 | 3.72 | 3.00 | 1.74 | 2.66 | 2.20 | 1.92 | 1.70 | 1.65 | 1.82 |
Income (Loss) from Discontinued Operations, Net of Tax, Per Diluted Share | |||||||||||
- | - | - | - | - | - | - | 0.10 | 0.00 | 0.00 | - | - |
Income (Loss) from Continuing Operations, Per Diluted Share | |||||||||||
- | - | - | - | - | - | - | 2.10 | 1.92 | 1.70 | - | - |
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share | |||||||||||
- | - | - | - | - | - | - | 0.11 | 0.00 | 0.00 | - | - |
Income (Loss) from Continuing Operations, Per Basic Share | |||||||||||
- | - | - | - | - | - | - | 2.12 | 1.96 | 1.75 | - | - |
Dividends, Common Stock [Abstract] | |||||||||||
Dividends declared (in dollars per share) | |||||||||||
1.14 | 1.03 | 0.94 | 0.89 | 0.79 | 0.70 | 0.54 | 0.42 | 0.25 | 0.05 | 0.00 | - |
Dividends paid per common share (in dollars per share) | |||||||||||
1.12 | 1.00 | 0.92 | 0.88 | 0.76 | 0.68 | 0.37 | 0.52 | 0.20 | 0.00 | 0.00 | - |
Weighted average shares outstanding: | |||||||||||
Weighted Average Number of Shares Outstanding, Basic | |||||||||||
42,700 | 42,600 | 42,700 | 43,000 | 44,200 | 44,700 | 46,200 | 48,497 | 50,032 | 49,249 | 48,112 | 46,139 |
Weighted Average Number of Shares Outstanding, Diluted | |||||||||||
43,200 | 43,000 | 43,000 | 43,300 | 44,300 | 44,900 | 46,500 | 49,148 | 50,988 | 50,555 | 49,793 | 49,213 |