MORNINGSTAR, INC. MORN Income Statement

Morningstar, inc. (MORN)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenue
324,000	332,400	313,800	273,900	258,900	262,700	261,300	252,400	243,500	243,100	229,900	229,200	209,500	212,200	196,100	198,200	192,100	201,600	195,300	202,100	189,800	196,400	193,100	189,400	181,200	180,534	173,482	175,428	168,856	170,609	160,952	165,968	160,759	158,571	160,051	161,011	151,767	151,153	139,817	136,091	128,290	120,088	119,533
Operating expense:
Cost of revenue
137,000	142,100	128,400	107,500	105,100	108,900	100,000	99,800	102,400	103,400	90,900	95,300	97,000	88,000	84,900	86,100	85,300	84,800	83,400	83,200	78,700	81,300	80,000	81,500	75,800	72,901	72,422	64,427	61,650	86,447	60,568	49,452	50,316	101,360	48,074	45,186	40,669	42,301	40,713	39,738	34,316	31,954	30,694
Development
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,442	13,365	-	13,482	13,681	11,988	13,753	12,703	11,899	10,889	9,447	9,438
Sales and marketing
50,900	48,200	44,000	45,700	40,000	34,800	35,800	39,400	38,500	34,100	31,100	36,700	32,400	26,500	23,100	25,700	22,300	22,800	23,300	25,100	25,400	28,000	26,800	27,900	28,400	24,811	22,774	28,035	27,980	27,453	25,732	27,373	28,326	26,197	27,253	26,767	26,482	25,596	22,881	24,435	22,561	17,730	18,010
General and administrative
57,400	68,700	57,200	44,000	40,800	44,200	35,400	36,000	32,200	36,600	33,300	29,700	30,200	29,100	25,800	24,700	25,600	27,200	26,000	27,800	26,100	26,000	26,400	30,400	26,100	29,037	22,416	28,120	27,327	31,767	23,966	24,946	28,178	24,829	26,431	26,207	30,617	25,632	23,462	23,106	20,643	20,643	19,853
Depreciation and amortization
34,200	33,700	34,600	25,900	23,500	25,500	24,700	23,600	22,900	26,400	21,800	21,500	21,500	18,700	18,100	17,300	16,600	16,600	16,400	16,300	15,100	14,500	14,600	13,400	12,400	11,842	11,257	11,262	11,339	11,480	10,822	10,619	10,175	11,201	10,947	10,563	10,202	11,582	9,897	9,246	8,939	6,631	8,850
Litigation Settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-61,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expense
279,500	292,700	264,200	223,100	209,400	213,400	195,900	198,800	196,000	200,500	177,100	183,200	181,100	162,300	151,900	153,800	149,800	151,400	149,100	152,400	145,300	149,800	147,800	214,200	142,700	138,591	128,869	131,844	128,296	131,340	121,088	124,832	130,360	124,436	126,187	122,404	119,958	118,864	109,656	108,424	97,348	86,405	86,845
Operating income
44,500	39,700	49,600	50,800	49,500	49,300	65,400	53,600	47,500	42,600	52,800	46,000	28,400	49,900	44,200	44,400	42,300	50,200	46,200	49,700	44,500	46,600	45,300	-24,800	38,500	41,943	44,613	43,584	40,560	39,269	39,864	41,136	30,399	34,135	33,864	38,607	31,809	32,289	30,161	27,667	30,942	33,683	32,688
Non-operating expense, net:
Interest expense, net
-3,200	-3,900	-4,800	700	-700	-600	-200	-700	-300	-1,000	-900	-800	-900	0	0	100	200	800	200	100	200	400	500	600	600	665	630	664	741	1,305	1,719	1,260	869	1,219	797	-179	524	745	512	593	587	572	764
Gain on sale of investments, reclassified from other comprehensive income
-400	500	300	-200	600	100	300	100	500	2,100	300	300	500	100	300	300	-100	100	0	500	0	-	200	400	-	3,094	-42	423	725	591	-4	37	-86	-	-	-	-	-	5	-	-	-	-
Gain (Loss) on Disposition of Business
-	-	-	-	-	-	-	-	-	-	0	17,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal
-	-	0	0	-	0	0	0	10,500	0	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity Method Investment, Realized Gain (Loss) on Disposal
-	-	19,500	-	-	-	5,600	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity Method Investments Holding Gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	5,200	-	-	-78	3,713	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Other expense, net
-7,700	-600	-1,100	1,800	-3,200	-400	1,600	2,000	-1,400	-1,000	-1,400	-1,700	-900	1,300	1,800	2,600	400	600	1,200	0	-600	1,100	-1,000	-300	300	-1,251	261	-1,689	-521	-2,473	165	-302	-124	26	-1,376	188	250	-56	5,689	-572	-766	221	1,208
Non-operating expense, net
-11,300	-4,000	13,900	2,300	-3,300	-900	7,300	1,400	9,300	-700	-2,000	15,300	-1,300	38,500	2,100	3,000	500	1,500	1,400	600	-400	1,900	-300	5,900	900	2,473	771	3,111	945	-577	1,880	995	659	1,505	-579	9	774	684	6,206	21	-179	793	1,972
Income before income taxes and equity in net loss of unconsolidated entities
33,200	35,700	63,500	53,100	46,200	48,400	72,700	55,000	56,800	41,900	50,800	61,300	27,100	88,400	46,300	47,400	42,800	51,700	47,600	50,300	44,100	48,500	45,000	-18,900	39,400	44,416	45,384	46,695	41,505	38,692	41,744	42,131	31,058	35,640	33,285	38,616	32,583	32,973	36,367	27,688	30,763	34,476	34,660
Equity in net loss of unconsolidated entities
-800	1,000	-1,100	700	-1,500	-500	300	-400	-1,500	-300	0	-200	-800	-900	400	-200	500	200	500	600	500	-1,400	300	500	600	228	315	360	497	486	478	497	566	451	428	595	374	246	333	454	389	429	-21
Income tax expense
8,500	9,100	13,300	11,700	11,500	5,500	16,100	12,800	13,400	2,700	16,900	15,000	8,300	17,200	16,500	15,400	14,600	14,600	14,600	18,700	14,800	15,500	15,100	-8,600	13,700	13,353	14,265	15,955	12,427	11,437	15,186	14,744	11,511	8,073	12,343	12,724	10,518	9,619	11,917	10,225	10,995	12,407	14,024
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
23,900	27,600	49,100	42,100	33,200	42,400	56,900	41,800	41,900	38,900	33,900	46,100	18,000	70,300	30,200	31,800	28,700	37,300	33,500	32,200	29,800	31,600	30,200	-9,800	26,300	31,291	31,434	31,100	29,575	32,929	27,036	27,884	20,113	28,018	21,370	26,487	22,439	23,600	24,783	17,917	20,157	22,498	20,615
Net income attributable to the noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	0	0	100	100	0	0	-100	-7	-29	-21	-43	-55	-34	-4	-24	63	-10	2	-98	97	106	-85	-31	-22	71
Net income attributable to Morningstar, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37,200	33,500	32,200	29,700	31,500	30,200	-9,800	26,400	31,298	31,463	31,121	29,618	32,984	27,070	27,888	20,137	27,955	21,380	26,485	22,537	23,503	24,677	18,002	20,188	22,520	20,544
Earnings Per Share [Abstract]
Earnings Per Share, Basic
0.56	0.64	1.15	0.99	0.78	1.00	1.33	0.98	0.99	0.92	0.80	1.07	0.42	1.63	0.70	0.74	0.67	0.84	0.76	0.73	0.67	0.71	0.67	-0.22	0.59	0.69	0.68	0.67	0.64	0.70	0.56	0.57	0.40	0.56	0.42	0.53	0.45	0.47	0.50	0.37	0.41	0.46	0.43
Earnings Per Share, Diluted
0.55	0.63	1.14	0.98	0.77	0.98	1.32	0.97	0.98	0.90	0.79	1.07	0.42	1.62	0.70	0.73	0.67	0.85	0.76	0.72	0.67	0.71	0.67	-0.22	0.58	0.69	0.68	0.66	0.63	0.68	0.56	0.56	0.40	0.54	0.42	0.52	0.44	0.45	0.49	0.36	0.40	0.45	0.41
Dividends, Common Stock [Abstract]
Dividends declared (in dollars per share)
0.30	0.58	0.00	0.28	0.28	0.53	0.00	0.25	0.25	0.48	0.00	0.23	0.23	0.23	0.22	0.22	0.22	0.22	0.19	0.19	0.19	0.19	0.17	0.17	0.17	0.29	0.00	0.12	0.12	0.12	0.10	0.10	0.10	0.10	0.05	0.05	0.05	-	0.00	-	-	-	-
Dividends paid per common share (in dollars per share)
0.30	0.28	0.28	0.28	0.28	0.25	0.25	0.25	0.25	0.23	0.23	0.23	0.23	0.22	0.22	0.22	0.22	0.19	0.19	0.19	0.19	0.17	0.17	0.17	0.17	0.12	0.13	0.12	0.00	0.22	0.10	0.10	0.10	0.05	0.05	0.05	0.05	-	-	-	-	-	-
Weighted average shares outstanding:
Weighted Average Number of Shares Outstanding, Basic
42,900	42,700	42,800	42,700	42,600	42,700	42,600	42,600	42,500	42,500	42,500	42,900	42,900	42,900	43,100	43,000	43,000	44,000	44,200	44,300	44,300	44,500	44,700	44,800	44,800	45,914	46,080	46,400	46,406	46,880	47,975	49,195	49,938	49,885	50,278	50,165	49,800	49,533	49,401	49,234	48,828	48,457	47,941
Weighted Average Number of Shares Outstanding, Diluted
43,300	43,500	43,200	43,100	43,000	43,100	43,100	43,000	42,900	42,900	42,800	43,100	43,200	43,500	43,300	43,300	43,100	44,000	44,300	44,400	44,500	44,800	44,900	44,800	45,100	45,814	46,519	46,853	46,814	47,497	48,481	49,856	50,758	50,734	51,123	51,142	50,953	50,811	50,544	50,533	50,332	50,048	49,631
Allocated Share-based Compensation Expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,745	3,655	-	-	-