Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 334.1	$ 369.3
Investments	33.4	26.6
Accounts receivable, less allowance for doubtful accounts of $4.1 and $4.0, respectively	188.5	172.2
Income tax receivable, net	6.3	1.8
Deferred commissions	16.9	14.8
Other current assets	24.0	16.9
Total current assets	603.2	601.6
Property, equipment, and capitalized software, net	154.7	143.5
Investments in unconsolidated entities	59.6	63.1
Goodwill	1,039.1	556.7
Operating Lease, Right-of-Use Asset	144.8	0.0
Intangible assets, net	333.4	73.9
Deferred Tax Assets, Net	10.7	0.0
Deferred commissions	13.5	10.3
Other assets	11.9	4.7
Total assets	2,370.9	1,453.8
Current liabilities:
Accounts payable and accrued liabilities	58.9	54.4
Accrued compensation	137.5	109.5
Deferred revenue	250.1	195.8
Current portion of long-term debt	11.0	0.0
Operating Lease, Liability, Current	35.8	0.0
Other current liabilities	2.5	3.1
Total current liabilities	495.8	362.8
Operating Lease, Liability, Noncurrent	138.7	0.0
Accrued compensation	12.1	11.8
Deferred tax liability, net	95.0	22.2
Long-term debt	502.1	70.0
Deferred revenue	32.2	14.2
Other long-term liabilities	11.4	38.1
Total liabilities	1,287.3	519.1
Morningstar, Inc. shareholders’ equity:
Common stock, no par value, 200,000,000 shares authorized, of which 42,848,359 and 42,642,118 shares were outstanding as of December 31, 2019 and December 31, 2018, respectively	0.0	0.0
Treasury stock at cost, 10,840,173 and 10,816,672 shares as of December 31, 2019 and December 31, 2018, respectively	(728.7)	(726.8)
Additional paid-in capital	655.0	621.7
Retained earnings	1,217.9	1,114.8
Accumulated other comprehensive loss:
Currency translation adjustment	(63.0)	(74.5)
Unrealized gain (loss) on available-for-sale investments	2.4	(0.5)
Total accumulated other comprehensive loss	(60.6)	(75.0)
Total equity	1,083.6	934.7
Total liabilities and equity	$ 2,370.9	$ 1,453.8