Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 322.5	$ 334.1
Investments	26.3	33.4
Accounts receivable, less allowance for credit losses of $4.8 and $4.1, respectively	184.7	188.5
Income tax receivable	5.7	6.3
Deferred commissions	17.1	16.9
Other current assets	24.4	24.0
Total current assets	580.7	603.2
Goodwill	1,013.2	1,039.1
Intangible assets, net	306.2	333.4
Property, equipment, and capitalized software, less accumulated depreciation and amortization of $394.7 and $377.3, respectively	149.5	154.7
Operating lease assets	147.0	144.8
Investments in unconsolidated entities	58.8	59.6
Deferred tax asset, net	9.8	10.7
Deferred commissions	13.6	13.5
Other assets	13.2	11.9
Total assets	2,292.0	2,370.9
Current liabilities:
Deferred revenue	279.1	250.1
Accrued compensation	70.2	137.5
Accounts payable and accrued liabilities	56.5	58.9
Current portion of long-term debt	11.0	11.0
Operating lease liabilities	35.9	35.8
Other current liabilities	3.7	2.5
Total current liabilities	456.4	495.8
Operating lease liabilities	136.0	138.7
Accrued compensation	12.7	12.1
Deferred tax liability, net	90.1	95.0
Long-term debt	519.4	502.1
Deferred revenue	33.3	32.2
Other long-term liabilities	11.4	11.4
Total liabilities	1,259.3	1,287.3
Morningstar, Inc. shareholders’ equity:
Common stock, no par value, 200,000,000 shares authorized, of which 42,793,123 and 42,848,359 shares were outstanding as of March 31, 2020 and December 31, 2019, respectively	0.0	0.0
Treasury stock at cost, 11,017,098 and 10,840,173 shares as of March 31, 2020 and December 31, 2019, respectively	(748.7)	(728.7)
Additional paid-in capital	657.2	655.0
Retained earnings	1,229.0	1,217.9
Accumulated other comprehensive loss:
Currency translation adjustment	(103.4)	(63.0)
Unrealized gain (loss) on available-for-sale investments	(1.4)	2.4
Total accumulated other comprehensive loss	(104.8)	(60.6)
Total equity	1,032.7	1,083.6
Total liabilities and equity	$ 2,292.0	$ 2,370.9