2012 Q2 Form 10-Q Financial Statement

#000128941912000229 Filed on July 31, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $166.0M $161.0M
YoY Change 3.08% 18.31%
Cost Of Revenue $49.45M $45.19M
YoY Change 9.44% 13.71%
Gross Profit $116.5M $115.8M
YoY Change 0.6% 20.21%
Gross Profit Margin 70.2% 71.94%
Selling, General & Admin $52.32M $52.97M
YoY Change -1.24% 11.43%
% of Gross Profit 44.9% 45.74%
Research & Development $12.44M $13.68M
YoY Change -9.06% 14.98%
% of Gross Profit 10.68% 11.81%
Depreciation & Amortization $10.62M $10.56M
YoY Change 0.53% 14.24%
% of Gross Profit 9.11% 9.12%
Operating Expenses $64.76M $66.66M
YoY Change -2.84% 12.14%
Operating Profit $41.14M $38.61M
YoY Change 6.55% 39.54%
Interest Expense $1.260M -$179.0K
YoY Change -803.91% -129.83%
% of Operating Profit 3.06% -0.46%
Other Income/Expense, Net $995.0K $9.000K
YoY Change 10955.56% -57.14%
Pretax Income $42.13M $38.62M
YoY Change 9.1% 39.47%
Income Tax $14.74M $12.72M
% Of Pretax Income 35.0% 32.95%
Net Earnings $27.89M $26.49M
YoY Change 5.3% 47.12%
Net Earnings / Revenue 16.8% 16.45%
Basic Earnings Per Share $0.57 $0.53
Diluted Earnings Per Share $0.56 $0.52
COMMON SHARES
Basic Shares Outstanding 49.20M shares 50.17M shares
Diluted Shares Outstanding 49.86M shares 51.14M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $389.9M $430.2M
YoY Change -9.37% 34.27%
Cash & Equivalents $147.5M $195.0M
Short-Term Investments $242.4M $235.2M
Other Short-Term Assets $22.29M $16.50M
YoY Change 35.1% 17.84%
Inventory
Prepaid Expenses
Receivables $117.0M $111.5M
Other Receivables $7.900M $14.40M
Total Short-Term Assets $542.0M $575.4M
YoY Change -5.81% 31.49%
LONG-TERM ASSETS
Property, Plant & Equipment $77.38M $62.06M
YoY Change 24.68% 9.84%
Goodwill $317.0M $326.5M
YoY Change -2.93%
Intangibles
YoY Change
Long-Term Investments $34.30M $24.40M
YoY Change 40.57% 1.24%
Other Assets $7.801M $7.675M
YoY Change 1.64% 34.65%
Total Long-Term Assets $563.8M $577.6M
YoY Change -2.4% 10.05%
TOTAL ASSETS
Total Short-Term Assets $542.0M $575.4M
Total Long-Term Assets $563.8M $577.6M
Total Assets $1.106B $1.153B
YoY Change -4.1% 19.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.90M $38.60M
YoY Change 18.91% 14.2%
Accrued Expenses $48.40M $50.10M
YoY Change -3.39% 32.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $262.1M $246.3M
YoY Change 6.45% 15.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $8.550M $26.26M
YoY Change -67.44% -11.6%
Total Long-Term Liabilities $8.550M $26.26M
YoY Change -67.44% -11.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $262.1M $246.3M
Total Long-Term Liabilities $8.550M $26.26M
Total Liabilities $308.6M $296.8M
YoY Change 3.94% 19.99%
SHAREHOLDERS EQUITY
Retained Earnings $447.0M $367.3M
YoY Change 21.7%
Common Stock $503.5M $476.5M
YoY Change 5.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $155.1M $6.391M
YoY Change 2327.46%
Treasury Stock Shares 2.857M shares 266.3K shares
Shareholders Equity $795.6M $855.2M
YoY Change
Total Liabilities & Shareholders Equity $1.106B $1.153B
YoY Change -4.1% 19.8%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $27.89M $26.49M
YoY Change 5.3% 47.12%
Depreciation, Depletion And Amortization $10.62M $10.56M
YoY Change 0.53% 14.24%
Cash From Operating Activities $49.20M $46.90M
YoY Change 4.9% 53.77%
INVESTING ACTIVITIES
Capital Expenditures -$8.900M -$3.400M
YoY Change 161.76% 61.9%
Acquisitions
YoY Change
Other Investing Activities $33.90M -$41.90M
YoY Change -180.91% -27.63%
Cash From Investing Activities $25.00M -$45.40M
YoY Change -155.07% -24.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -89.30M -800.0K
YoY Change 11062.5% -166.67%
NET CHANGE
Cash From Operating Activities 49.20M 46.90M
Cash From Investing Activities 25.00M -45.40M
Cash From Financing Activities -89.30M -800.0K
Net Change In Cash -15.10M 700.0K
YoY Change -2257.14% -102.46%
FREE CASH FLOW
Cash From Operating Activities $49.20M $46.90M
Capital Expenditures -$8.900M -$3.400M
Free Cash Flow $58.10M $50.30M
YoY Change 15.51% 54.29%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Recently Issued Accounting Pronouncements</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#221e1f;">In September 2011, the FASB issued ASU </font><font style="font-family:Arial;font-size:10pt;">No. 2011-08, </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Intangibles&#8212;Goodwill and Other (Topic 350): Testing Goodwill for Impairment. </font><font style="font-family:Arial;font-size:10pt;">The objective of ASU No. 2011-08 is to simplify how entities test goodwill for impairment. ASU No. 2011-08 provides an option for companies to use a qualitative approach to test goodwill for impairment if certain conditions are met. For Morningstar, t</font><font style="font-family:Arial;font-size:10pt;color:#221e1f;">he amendments are effective for annual and interim goodwill impairment tests performed in 2012. Early adoption will be permitted. We perform our annual impairment testing in the fourth quarter and</font><font style="font-family:Arial;font-size:10pt;"> do not expect the provisions of ASU No. 2011-08 to have a material effect on our Consolidated Financial Statements.</font></div></div>
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19717000 USD
CY2011Q4 us-gaap Held To Maturity Securities Current
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16347000 USD
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16342000 USD
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19712000 USD
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19712000 USD
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16342000 USD
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0 USD
CY2011Q4 us-gaap Held To Maturity Securities Unrecognized Holding Loss
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0 USD
CY2011Q4 us-gaap Heldtomaturity Securities Unrecognized Holding Gain
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0 USD
CY2012Q2 us-gaap Heldtomaturity Securities Unrecognized Holding Gain
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CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
73189000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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71199000 USD
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
42131000 USD
CY2011Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
595000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1063000 USD
CY2012Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
497000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
969000 USD
CY2012Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23242000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26255000 USD
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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21405000 USD
us-gaap Income Taxes Paid Net
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21104000 USD
CY2012Q2 us-gaap Income Taxes Receivable
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7911000 USD
CY2011Q4 us-gaap Income Taxes Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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2742000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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4525000 USD
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-454000 USD
us-gaap Increase Decrease In Deferred Income Taxes
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us-gaap Increase Decrease In Deferred Revenue
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12333000 USD
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3640000 USD
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-608000 USD
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us-gaap Increase Decrease In Other Operating Liabilities
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1058000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
730000 shares
CY2011Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
977000 shares
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us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
345000 USD
CY2011Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2129000 USD
CY2011Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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27642000 USD
CY2012Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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34271000 USD
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Liabilities
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CY2012Q2 us-gaap Liabilities
Liabilities
308554000 USD
CY2012Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2011Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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262139000 USD
CY2011Q4 us-gaap Liabilities Current
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270633000 USD
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269755000 USD
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242379000 USD
CY2012Q2 us-gaap Minority Interest
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CY2011Q4 us-gaap Minority Interest
MinorityInterest
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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2963000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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61156000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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CY2011Q2 us-gaap Net Income Loss
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CY2012Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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2000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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47910000 USD
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27823000 USD
CY2011Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
26405000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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48876000 USD
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
27823000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
47911000 USD
CY2011Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1654000 USD
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NonoperatingIncomeExpense
9000 USD
CY2012Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
995000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
38607000 USD
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
41136000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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OtherAssetsCurrent
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OtherAssetsCurrent
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OtherAssetsNoncurrent
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CY2012Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
12564000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
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CY2012Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
-8743000 USD
CY2011Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
3262000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
-1377000 USD
CY2011Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
3012000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
12711000 USD
CY2012Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
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us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
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CY2011Q2 us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
211000 USD
us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
252000 USD
CY2012Q2 us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
22000 USD
us-gaap Other Comprehensive Income Reclassification Adjustment For Sale Of Securities Included In Net Income Tax
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16000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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368000 USD
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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CY2011Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-39000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
189000 USD
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OtherLiabilitiesCurrent
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CY2012Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
367000 USD
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OtherLiabilitiesNoncurrent
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OtherLiabilitiesNoncurrent
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
547000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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OtherNonoperatingIncomeExpense
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CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
109000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Dividends
PaymentsOfDividends
10004000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
5011000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
133888000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
6750000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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8418000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17922000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
4652000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
781000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
150360000 USD
us-gaap Profit Loss
ProfitLoss
48926000 USD
CY2012Q2 us-gaap Profit Loss
ProfitLoss
27884000 USD
CY2011Q2 us-gaap Profit Loss
ProfitLoss
26487000 USD
us-gaap Profit Loss
ProfitLoss
47997000 USD
CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
77376000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
68196000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
530000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
717000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
25669000 USD
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12442000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
25807000 USD
CY2011Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13681000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
409022000 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
447026000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
312778000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
326727000 USD
CY2011Q2 us-gaap Sales Revenue Net
SalesRevenueNet
161011000 USD
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
165968000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12189000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
11907000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
55699000 USD
CY2011Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
26767000 USD
CY2012Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
27373000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
53249000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7492000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7600000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod
P4Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
7600000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
7492000 USD
CY2011Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
3843000 USD
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
3734000 USD
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
4740000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
14531000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
20137000 USD
CY2010Q3 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
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CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2012Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
797225000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
857016000 USD
CY2012Q2 us-gaap Trading Securities Current
TradingSecuritiesCurrent
5184000 USD
CY2011Q4 us-gaap Trading Securities Current
TradingSecuritiesCurrent
5491000 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
-9000 USD
CY2012Q2 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
156000 USD
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2012Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2012Q2 us-gaap Treasury Stock Value
TreasuryStockValue
155139000 USD
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
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us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
109464000 USD
CY2012Q2 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
53000 USD
CY2011Q2 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
72000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
88000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
131000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12393000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
12110000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51041000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50296000 shares
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49856000 shares
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51142000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49566000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49983000 shares
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50165000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49195000 shares
CY2011Q4 morn Accounts Payable And Accrued Liabilities Excluding Employee Related Liabilities Current
AccountsPayableAndAccruedLiabilitiesExcludingEmployeeRelatedLiabilitiesCurrent
41403000 USD
CY2012Q2 morn Accounts Payable And Accrued Liabilities Excluding Employee Related Liabilities Current
AccountsPayableAndAccruedLiabilitiesExcludingEmployeeRelatedLiabilitiesCurrent
45858000 USD
morn Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockRequisiteServicePeriodRecognition
888000 USD
CY2011Q4 morn Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCostBasis
75001000 USD
CY2012Q2 morn Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCostBasis
36369000 USD
CY2011Q4 morn Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
74804000 USD
CY2011Q2 morn Distributed Earnings Available To Participating Securities
DistributedEarningsAvailableToParticipatingSecurities
8000 USD
morn Distributed Earnings Available To Participating Securities
DistributedEarningsAvailableToParticipatingSecurities
17000 USD
morn Distributed Earnings Available To Participating Securities
DistributedEarningsAvailableToParticipatingSecurities
27000 USD
morn Dividends Restricted Stock Units
DividendsRestrictedStockUnits
15000 USD
morn Effective Income Tax Rate Reconciliation Change In Percentage Points Compared With Prior Year Period
EffectiveIncomeTaxRateReconciliationChangeInPercentagePointsComparedWithPriorYearPeriod
3.1
CY2012Q2 morn Effective Income Tax Rate Reconciliation Change In Percentage Points Compared With Prior Year Period
EffectiveIncomeTaxRateReconciliationChangeInPercentagePointsComparedWithPriorYearPeriod
2.1
CY2012Q2 morn Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
36170000 USD
CY2011Q4 morn Available For Sale Securities Equity Securities And Mutual Funds Amortized Cost Basis
AvailableForSaleSecuritiesEquitySecuritiesAndMutualFundsAmortizedCostBasis
17759000 USD
CY2012Q2 morn Available For Sale Securities Equity Securities And Mutual Funds Amortized Cost Basis
AvailableForSaleSecuritiesEquitySecuritiesAndMutualFundsAmortizedCostBasis
39435000 USD
CY2011Q4 morn Available For Sale Securities Equity Securities And Mutual Funds Fair Value
AvailableForSaleSecuritiesEquitySecuritiesAndMutualFundsFairValue
17866000 USD
CY2012Q2 morn Available For Sale Securities Equity Securities And Mutual Funds Fair Value
AvailableForSaleSecuritiesEquitySecuritiesAndMutualFundsFairValue
40380000 USD
CY2011Q4 morn Certificate Of Deposit Held As Collateral Against Australia Office Lease
CertificateOfDepositHeldAsCollateralAgainstAustraliaOfficeLease
1600000 USD
CY2012Q2 morn Certificate Of Deposit Held As Collateral Against Australia Office Lease
CertificateOfDepositHeldAsCollateralAgainstAustraliaOfficeLease
1500000 USD
CY2012Q2 morn Closing Stock Price Used To Calculate Intrinsic Value
ClosingStockPriceUsedToCalculateIntrinsicValue
57.84
CY2011Q4 morn Decrease In Income Tax Expense Upon Recognition Of Gross Unrecognized Tax Benefits
DecreaseInIncomeTaxExpenseUponRecognitionOfGrossUnrecognizedTaxBenefits
9827000 USD
CY2012Q2 morn Decrease In Income Tax Expense Upon Recognition Of Gross Unrecognized Tax Benefits
DecreaseInIncomeTaxExpenseUponRecognitionOfGrossUnrecognizedTaxBenefits
9992000 USD
CY2012Q2 morn Distributed Earnings Available To Participating Securities
DistributedEarningsAvailableToParticipatingSecurities
12000 USD
CY2012Q2 morn Employee Related Liabilities Noncurrent
EmployeeRelatedLiabilitiesNoncurrent
6483000 USD
CY2011Q4 morn Employee Related Liabilities Noncurrent
EmployeeRelatedLiabilitiesNoncurrent
5724000 USD
CY2012Q2 morn Future Amortization Expense Current Fiscal Year
FutureAmortizationExpenseCurrentFiscalYear
23766000 USD
CY2011Q4 morn Held To Maturity Securities Debt Maturities After One Through Three Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughThreeYearsFairValue
5000 USD
CY2012Q2 morn Held To Maturity Securities Debt Maturities After One Through Three Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughThreeYearsFairValue
5000 USD
CY2011Q4 morn Held To Maturity Securities Debt Maturities After One Through Three Years Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughThreeYearsYearsNetCarryingAmount
5000 USD
CY2012Q2 morn Held To Maturity Securities Debt Maturities After One Through Three Years Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughThreeYearsYearsNetCarryingAmount
5000 USD
CY2012Q2 morn Income Loss From Continuing Operations Before Income Taxes Domestic And Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomesticAndForeign
42632000 USD
CY2011Q2 morn Income Loss From Continuing Operations Before Income Taxes Domestic And Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomesticAndForeign
39209000 USD
morn Income Loss From Continuing Operations Before Income Taxes Domestic And Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomesticAndForeign
74280000 USD
morn Income Loss From Continuing Operations Before Income Taxes Domestic And Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomesticAndForeign
72264000 USD
morn Increase Decrease In Accounts Payable And Accrued Liabilities Excluding Employee Related Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingEmployeeRelatedLiabilities
-5260000 USD
morn Increase Decrease In Accounts Payable And Accrued Liabilities Excluding Employee Related Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingEmployeeRelatedLiabilities
652000 USD
morn Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
468000 USD
morn Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-657000 USD
CY2011 morn Increase Decrease In Stock Purchased Program Authorized Amount
IncreaseDecreaseInStockPurchasedProgramAuthorizedAmount
200000000 USD
CY2011Q2 morn Operating Expense Excluding Stock Based Compensation Expense Depreciation And Amortization
OperatingExpenseExcludingStockBasedCompensationExpenseDepreciationAndAmortization
107998000 USD
morn Operating Expense Excluding Stock Based Compensation Expense Depreciation And Amortization
OperatingExpenseExcludingStockBasedCompensationExpenseDepreciationAndAmortization
226798000 USD
morn Operating Expense Excluding Stock Based Compensation Expense Depreciation And Amortization
OperatingExpenseExcludingStockBasedCompensationExpenseDepreciationAndAmortization
214105000 USD
CY2012Q2 morn Operating Expense Excluding Stock Based Compensation Expense Depreciation And Amortization
OperatingExpenseExcludingStockBasedCompensationExpenseDepreciationAndAmortization
110479000 USD
morn Reduction Of Liability For Lease Payments
ReductionOfLiabilityForLeasePayments
654000 USD
morn Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
P10Y
morn Share Based Compensation Shares Available For Future Grants
ShareBasedCompensationSharesAvailableForFutureGrants
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The following table summarizes the number of shares available for future grants under our 2011 Plan:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td width="81%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="17%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">As of June 30</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">(000)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">2012</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Shares available for future grants</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">4,740</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>
CY2012Q2 morn Shares Repurchased Program Life To Date Shares
SharesRepurchasedProgramLifeToDateShares
2660557 shares
CY2012Q2 morn Shares Repurchased Program Life To Date Value
SharesRepurchasedProgramLifeToDateValue
153920000 USD
morn Stock Issued During Period Value Stock Options Exercised And Vesting Of Restricted Stock
StockIssuedDuringPeriodValueStockOptionsExercisedAndVestingOfRestrictedStock
781000 USD
CY2012Q2 morn Total Liability For Unrecognized Tax Benefits
TotalLiabilityForUnrecognizedTaxBenefits
11932000 USD
CY2011Q4 morn Total Liability For Unrecognized Tax Benefits
TotalLiabilityForUnrecognizedTaxBenefits
11529000 USD
CY2011Q2 morn Undistributed Earnings Allocated To Participating Securities Diluted
UndistributedEarningsAllocatedToParticipatingSecuritiesDiluted
72000 USD
CY2012Q2 morn Undistributed Earnings Allocated To Participating Securities Diluted
UndistributedEarningsAllocatedToParticipatingSecuritiesDiluted
53000 USD
morn Undistributed Earnings Allocated To Participating Securities Diluted
UndistributedEarningsAllocatedToParticipatingSecuritiesDiluted
131000 USD
morn Undistributed Earnings Allocated To Participating Securities Diluted
UndistributedEarningsAllocatedToParticipatingSecuritiesDiluted
88000 USD
morn Undistributed Earnings Reallocated To Participating Securities
UndistributedEarningsReallocatedToParticipatingSecurities
87000 USD
morn Undistributed Earnings Reallocated To Participating Securities
UndistributedEarningsReallocatedToParticipatingSecurities
129000 USD
CY2012Q2 morn Undistributed Earnings Reallocated To Participating Securities
UndistributedEarningsReallocatedToParticipatingSecurities
53000 USD
CY2011Q2 morn Undistributed Earnings Reallocated To Participating Securities
UndistributedEarningsReallocatedToParticipatingSecurities
70000 USD
morn Unrealized Gain Loss On Available For Sale Investments
UnrealizedGainLossOnAvailableForSaleInvestments
220000 USD
morn Unrealized Gain Loss On Available For Sale Investments
UnrealizedGainLossOnAvailableForSaleInvestments
606000 USD
CY2012Q2 morn Unrecognized Tax Benefits Included In Current Liabilities
UnrecognizedTaxBenefitsIncludedInCurrentLiabilities
5305000 USD
CY2011Q4 morn Unrecognized Tax Benefits Included In Current Liabilities
UnrecognizedTaxBenefitsIncludedInCurrentLiabilities
5329000 USD
CY2011Q4 morn Unrecognized Tax Benefits Included In Non Current Liabilities
UnrecognizedTaxBenefitsIncludedInNonCurrentLiabilities
6200000 USD
CY2012Q2 morn Unrecognized Tax Benefits Included In Non Current Liabilities
UnrecognizedTaxBenefitsIncludedInNonCurrentLiabilities
6627000 USD
CY2012Q2 morn Vacant Office Space Liability
VacantOfficeSpaceLiability
265000 USD
CY2011Q4 morn Vacant Office Space Liability
VacantOfficeSpaceLiability
919000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001289419
CY2012Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
48394821 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
MORNINGSTAR, INC.

Files In Submission

Name View Source Status
0001289419-12-000229-index-headers.html Edgar Link pending
0001289419-12-000229-index.html Edgar Link pending
0001289419-12-000229.txt Edgar Link pending
0001289419-12-000229-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
mlogored2rgb150a01.jpg Edgar Link pending
morn-20120630.xml Edgar Link completed
morn-20120630.xsd Edgar Link pending
morn-20120630_cal.xml Edgar Link unprocessable
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