2024 Q1 Form 10-K Financial Statement

#000128941924000010 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $542.8M $538.7M $2.039B
YoY Change 13.15% 13.41% 8.98%
Cost Of Revenue $218.1M $205.4M $843.5M
YoY Change -0.32% 5.33% 8.24%
Gross Profit $324.7M $333.3M $1.195B
YoY Change 24.45% 19.04% 9.51%
Gross Profit Margin 59.82% 61.87% 58.62%
Selling, General & Admin $184.9M $192.4M $779.6M
YoY Change -3.5% -3.66% 3.0%
% of Gross Profit 56.94% 57.73% 65.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $47.20M $46.50M $184.9M
YoY Change 5.36% 3.79% 10.98%
% of Gross Profit 14.54% 13.95% 15.47%
Operating Expenses $232.1M $238.9M $779.6M
YoY Change 21.14% -2.29% 3.0%
Operating Profit $92.60M $94.40M $230.6M
YoY Change 277.96% 165.92% 37.43%
Interest Expense -$8.900M -$11.50M -$51.70M
YoY Change -33.08% 3.6% 82.04%
% of Operating Profit -9.61% -12.18% -22.42%
Other Income/Expense, Net $3.300M $7.400M -$49.10M
YoY Change -114.73% 19.35% 31.99%
Pretax Income $87.00M $90.30M $101.4M
YoY Change 4042.86% 195.1% 23.06%
Income Tax $21.30M $14.10M $33.00M
% Of Pretax Income 24.48% 15.61% 32.54%
Net Earnings $64.20M $73.50M $141.1M
YoY Change -944.74% 2127.27% 100.14%
Net Earnings / Revenue 11.83% 13.64% 6.92%
Basic Earnings Per Share $1.50 $3.31
Diluted Earnings Per Share $1.49 $1.71 $3.29
COMMON SHARES
Basic Shares Outstanding 42.73M shares 42.70M shares 42.60M shares
Diluted Shares Outstanding 43.00M shares 42.90M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $409.1M $389.0M $389.0M
YoY Change 6.15% -6.17% -6.17%
Cash & Equivalents $353.7M $337.9M $337.9M
Short-Term Investments $55.40M $51.10M $51.10M
Other Short-Term Assets $53.70M $5.400M $82.20M
YoY Change 606.58% -50.46% 72.69%
Inventory
Prepaid Expenses $48.60M $34.90M
Receivables $367.8M $343.9M $343.9M
Other Receivables $0.00 $600.0K $600.0K
Total Short-Term Assets $830.6M $815.7M $815.7M
YoY Change 6.31% 0.6% 0.6%
LONG-TERM ASSETS
Property, Plant & Equipment $367.3M $207.7M $371.6M
YoY Change 82.28% 4.16% -4.96%
Goodwill $1.574B $1.579B
YoY Change -0.2% 0.45%
Intangibles
YoY Change
Long-Term Investments $96.10M $100.2M $100.2M
YoY Change -18.35% 4.38% 4.38%
Other Assets $27.90M $8.800M $52.70M
YoY Change 170.87% -16.19% 147.42%
Total Long-Term Assets $2.559B $2.588B $2.588B
YoY Change -4.14% -2.86% -2.86%
TOTAL ASSETS
Total Short-Term Assets $830.6M $815.7M $815.7M
Total Long-Term Assets $2.559B $2.588B $2.588B
Total Assets $3.389B $3.403B $3.403B
YoY Change -1.78% -2.05% -2.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $72.00M $78.40M $78.40M
YoY Change 3.45% 2.89% 2.89%
Accrued Expenses $157.6M $250.8M $250.8M
YoY Change -7.13% -2.56% -2.56%
Deferred Revenue $589.9M
YoY Change 10.53%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $32.10M $32.10M $32.10M
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $846.8M $880.8M $880.8M
YoY Change 0.28% -0.19% -0.19%
LONG-TERM LIABILITIES
Long-Term Debt $917.3M $972.4M $940.3M
YoY Change -18.93% -12.36% -12.73%
Other Long-Term Liabilities $209.4M $17.50M $218.9M
YoY Change 1395.71% 25.9% -10.58%
Total Long-Term Liabilities $1.127B $989.9M $1.159B
YoY Change -1.64% -11.89% -12.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $846.8M $880.8M $880.8M
Total Long-Term Liabilities $1.127B $989.9M $1.159B
Total Liabilities $2.006B $2.076B $2.076B
YoY Change -10.67% -8.47% -8.47%
SHAREHOLDERS EQUITY
Retained Earnings $1.658B $1.611B
YoY Change 9.68% 4.94%
Common Stock $808.0M $789.0M
YoY Change 4.66% 4.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $985.5M $985.5M
YoY Change -0.12% -0.12%
Treasury Stock Shares
Shareholders Equity $1.383B $1.328B $1.328B
YoY Change
Total Liabilities & Shareholders Equity $3.389B $3.403B $3.403B
YoY Change -1.78% -2.05% -2.05%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $64.20M $73.50M $141.1M
YoY Change -944.74% 2127.27% 100.14%
Depreciation, Depletion And Amortization $47.20M $46.50M $184.9M
YoY Change 5.36% 3.79% 10.98%
Cash From Operating Activities $93.60M $137.8M $316.4M
YoY Change 300.0% 33.14% 6.25%
INVESTING ACTIVITIES
Capital Expenditures $34.10M $30.00M $119.1M
YoY Change 15.59% -16.9% -8.03%
Acquisitions $800.0K
YoY Change -99.88%
Other Investing Activities $7.400M -$2.800M -$100.0K
YoY Change 27.27% -150.0%
Cash From Investing Activities -$26.70M -$32.80M -$81.90M
YoY Change 3714.29% -14.36% -89.75%
FINANCING ACTIVITIES
Cash Dividend Paid $17.30M $63.90M
YoY Change 8.81% 3.9%
Common Stock Issuance & Retirement, Net $1.400M
YoY Change -99.38%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -43.50M -103.4M -$278.4M
YoY Change -10.86% 34.81% -167.07%
NET CHANGE
Cash From Operating Activities 93.60M 137.8M $316.4M
Cash From Investing Activities -26.70M -32.80M -$81.90M
Cash From Financing Activities -43.50M -103.4M -$278.4M
Net Change In Cash 23.40M 1.600M -$38.70M
YoY Change -195.9% -113.91% -63.9%
FREE CASH FLOW
Cash From Operating Activities $93.60M $137.8M $316.4M
Capital Expenditures $34.10M $30.00M $119.1M
Free Cash Flow $59.50M $107.8M $197.3M
YoY Change -1075.41% 59.94% 17.23%

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<span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:5.17pt">Description of Business</span><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Morningstar, Inc. and its subsidiaries (Morningstar, we, our, the company) provide independent investment insights for investors around the world. We offer an extensive line of products and services for individual and institutional investors in public and private capital markets, financial advisors, asset managers, retirement plan providers and sponsors, and issuers of securities. We conduct business operations through wholly- or majority-owned subsidiaries in 32 countries.</span></div>
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CY2023Q4 morn Equity Securities Available For Sale Held To Maturity Amortized Cost
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CY2023Q4 morn Equity Securities Available For Sale Held To Maturity Accumulated Gross Unrealized Loss Before Tax
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CY2022Q4 morn Equity Securities Available For Sale Held To Maturity Accumulated Gross Unrealized Loss Before Tax
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CY2022Q4 morn Equity Securities Available For Sale Held To Maturity Fair Value
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CY2023 dei Document Period End Date
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CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
10300000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
18300000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
8900000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
52800000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
83200000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
41900000 usd
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
76900000 usd
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P28M
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-12-31
CY2023 morn Defined Contribution Plan Employer Matching Contribution Per Dollar
DefinedContributionPlanEmployerMatchingContributionPerDollar
0.75 usd
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.07
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
22100000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
19700000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
16200000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
181500000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
130600000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
250500000 usd
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-7400000 usd
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-3600000 usd
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5400000 usd
CY2023 morn Income Loss From Continuing Operations Before Income Taxes Domestic And Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomesticAndForeign
174100000 usd
CY2022 morn Income Loss From Continuing Operations Before Income Taxes Domestic And Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomesticAndForeign
127000000.0 usd
CY2021 morn Income Loss From Continuing Operations Before Income Taxes Domestic And Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomesticAndForeign
255900000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33000000.0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56500000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
62600000 usd
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.190
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.445
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.190
CY2023 morn Effective Income Tax Rate Reconciliation Increase Decrease From Prior Year Percentage Points
EffectiveIncomeTaxRateReconciliationIncreaseDecreaseFromPriorYearPercentagePoints
-0.255
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.445
CY2023 morn Current And Deferred Tax Benefits Related To Retrospective Tax Election
CurrentAndDeferredTaxBenefitsRelatedToRetrospectiveTaxElection
13700000 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.445
CY2022 morn Effective Income Tax Rate Reconciliation Increase Decrease From Prior Year Percentage Points
EffectiveIncomeTaxRateReconciliationIncreaseDecreaseFromPriorYearPercentagePoints
0.200
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245
CY2023Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
274300000 usd
CY2023Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
274300000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
36600000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
26700000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
53700000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
7300000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.042
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
6400000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.050
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
10700000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.042
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1600000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.009
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-1500000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.012
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-7200000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.028
CY2023 morn Effective Income Tax Rate Reconciliation Holding Gain Additional Ownership Acquiredin Unconsolidated Subsidiary Amount
EffectiveIncomeTaxRateReconciliationHoldingGainAdditionalOwnershipAcquiredinUnconsolidatedSubsidiaryAmount
-1100000 usd
CY2023 morn Effective Income Tax Rate Reconciliation Holding Gain Additional Ownership Acquiredin Unconsolidated Subsidiary Percent
EffectiveIncomeTaxRateReconciliationHoldingGainAdditionalOwnershipAcquiredinUnconsolidatedSubsidiaryPercent
-0.006
CY2022 morn Effective Income Tax Rate Reconciliation Holding Gain Additional Ownership Acquiredin Unconsolidated Subsidiary Amount
EffectiveIncomeTaxRateReconciliationHoldingGainAdditionalOwnershipAcquiredinUnconsolidatedSubsidiaryAmount
-1000000.0 usd
CY2022 morn Effective Income Tax Rate Reconciliation Holding Gain Additional Ownership Acquiredin Unconsolidated Subsidiary Percent
EffectiveIncomeTaxRateReconciliationHoldingGainAdditionalOwnershipAcquiredinUnconsolidatedSubsidiaryPercent
-0.008
CY2021 morn Effective Income Tax Rate Reconciliation Holding Gain Additional Ownership Acquiredin Unconsolidated Subsidiary Amount
EffectiveIncomeTaxRateReconciliationHoldingGainAdditionalOwnershipAcquiredinUnconsolidatedSubsidiaryAmount
-200000 usd
CY2021 morn Effective Income Tax Rate Reconciliation Holding Gain Additional Ownership Acquiredin Unconsolidated Subsidiary Percent
EffectiveIncomeTaxRateReconciliationHoldingGainAdditionalOwnershipAcquiredinUnconsolidatedSubsidiaryPercent
-0.001
CY2023 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
0 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
1800000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.014
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
5100000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.020
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-3200000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.018
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
7700000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.061
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
100000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1700000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.010
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-1900000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.015
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-2600000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.010
CY2023 morn Income Tax Rate Reconciliation Changes In Unrecognized Tax Benefits
IncomeTaxRateReconciliationChangesInUnrecognizedTaxBenefits
9800000 usd
CY2023 morn Effective Income Tax Rate Reconciliation Changes In Unrecognized Tax Benefits
EffectiveIncomeTaxRateReconciliationChangesInUnrecognizedTaxBenefits
0.056
CY2022 morn Income Tax Rate Reconciliation Changes In Unrecognized Tax Benefits
IncomeTaxRateReconciliationChangesInUnrecognizedTaxBenefits
-14100000 usd
CY2022 morn Effective Income Tax Rate Reconciliation Changes In Unrecognized Tax Benefits
EffectiveIncomeTaxRateReconciliationChangesInUnrecognizedTaxBenefits
-0.111
CY2021 morn Income Tax Rate Reconciliation Changes In Unrecognized Tax Benefits
IncomeTaxRateReconciliationChangesInUnrecognizedTaxBenefits
200000 usd
CY2021 morn Effective Income Tax Rate Reconciliation Changes In Unrecognized Tax Benefits
EffectiveIncomeTaxRateReconciliationChangesInUnrecognizedTaxBenefits
0.001
CY2023 us-gaap Income Tax Reconciliation Tax Credits Other
IncomeTaxReconciliationTaxCreditsOther
4100000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.024
CY2022 us-gaap Income Tax Reconciliation Tax Credits Other
IncomeTaxReconciliationTaxCreditsOther
3800000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.030
CY2021 us-gaap Income Tax Reconciliation Tax Credits Other
IncomeTaxReconciliationTaxCreditsOther
2100000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.008
CY2023 morn Effective Income Tax Rate Reconciliation Foreign Tax Provisions Amount
EffectiveIncomeTaxRateReconciliationForeignTaxProvisionsAmount
-200000 usd
CY2023 morn Effective Income Tax Rate Reconciliation Foreign Tax Provisions Percent
EffectiveIncomeTaxRateReconciliationForeignTaxProvisionsPercent
-0.001
CY2022 morn Effective Income Tax Rate Reconciliation Foreign Tax Provisions Amount
EffectiveIncomeTaxRateReconciliationForeignTaxProvisionsAmount
-4600000 usd
CY2022 morn Effective Income Tax Rate Reconciliation Foreign Tax Provisions Percent
EffectiveIncomeTaxRateReconciliationForeignTaxProvisionsPercent
-0.036
CY2021 morn Effective Income Tax Rate Reconciliation Foreign Tax Provisions Amount
EffectiveIncomeTaxRateReconciliationForeignTaxProvisionsAmount
-700000 usd
CY2021 morn Effective Income Tax Rate Reconciliation Foreign Tax Provisions Percent
EffectiveIncomeTaxRateReconciliationForeignTaxProvisionsPercent
-0.003
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
2000000.0 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.012
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
10600000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.084
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
5600000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.022
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33000000.0 usd
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.190
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56500000 usd
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.445
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
62600000 usd
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
250500000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
7100000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
10000000.0 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
27500000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
25800000 usd
CY2023Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
8500000 usd
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
9200000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
27700000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
49100000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
38300000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
13400000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
14900000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
13600000 usd
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
24300000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
30100000 usd
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
23000000.0 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
65400000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
94100000 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
74900000 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-15600000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-20800000 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-2800000 usd
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-4200000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-300000 usd
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-12600000 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-10000000.0 usd
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-9200000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-32400000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
33000000.0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56500000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
62600000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
101400000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
82400000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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218300000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
80100000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
48200000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
32200000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
181500000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
130600000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
100000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
18100000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
15800000 usd
CY2023Q4 morn Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
69200000 usd
CY2022Q4 morn Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
34500000 usd
CY2023Q4 morn Deferred Tax Assets Royalty Revenue
DeferredTaxAssetsRoyaltyRevenue
0 usd
CY2022Q4 morn Deferred Tax Assets Royalty Revenue
DeferredTaxAssetsRoyaltyRevenue
100000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
1800000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
1900000 usd
CY2023Q4 morn Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
35000000.0 usd
CY2022Q4 morn Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
39700000 usd
CY2023Q4 morn Deferred Tax Assets Capital Loss And Other Carryforwards
DeferredTaxAssetsCapitalLossAndOtherCarryforwards
16700000 usd
CY2022Q4 morn Deferred Tax Assets Capital Loss And Other Carryforwards
DeferredTaxAssetsCapitalLossAndOtherCarryforwards
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
100000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
100000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
184000000.0 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
137200000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Other Finite Lived Assets
DeferredTaxLiabilitiesOtherFiniteLivedAssets
73200000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Other Finite Lived Assets
DeferredTaxLiabilitiesOtherFiniteLivedAssets
75400000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
39200000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
36200000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
30200000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
33100000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Unrealized Currency Transaction Gains
DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains
1000000.0 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Unrealized Currency Transaction Gains
DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains
100000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
19200000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
19500000 usd
CY2023Q4 morn Deferred Tax Liabilities Investments In Unconsolidated Entities
DeferredTaxLiabilitiesInvestmentsInUnconsolidatedEntities
14600000 usd
CY2022Q4 morn Deferred Tax Liabilities Investments In Unconsolidated Entities
DeferredTaxLiabilitiesInvestmentsInUnconsolidatedEntities
7700000 usd
CY2023Q4 morn Deferred Tax Liabilities Foreign Dividends Withholding Tax
DeferredTaxLiabilitiesForeignDividendsWithholdingTax
1300000 usd
CY2022Q4 morn Deferred Tax Liabilities Foreign Dividends Withholding Tax
DeferredTaxLiabilitiesForeignDividendsWithholdingTax
400000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
178700000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
172400000 usd
CY2023Q4 morn Deferred Tax Liabilities Before Valuation Allowance
DeferredTaxLiabilitiesBeforeValuationAllowance
-5300000 usd
CY2022Q4 morn Deferred Tax Liabilities Before Valuation Allowance
DeferredTaxLiabilitiesBeforeValuationAllowance
35200000 usd
CY2023Q4 morn Deferred Tax Liabilities Valuation Allowance
DeferredTaxLiabilitiesValuationAllowance
26300000 usd
CY2022Q4 morn Deferred Tax Liabilities Valuation Allowance
DeferredTaxLiabilitiesValuationAllowance
16900000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
21000000.0 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
52100000 usd
CY2022Q4 morn Deferred Tax Liabilities Valuation Allowance
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CY2023Q4 morn Deferred Tax Liabilities Valuation Allowance
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CY2023Q4 morn Unrecognized Tax Benefits Included In Current Liabilities
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CY2023Q4 morn Unrecognized Tax Benefits Included In Non Current Liabilities
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CY2022Q4 morn Unrecognized Tax Benefits Included In Current Liabilities
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CY2022Q4 morn Unrecognized Tax Benefits Included In Non Current Liabilities
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2021Q4 us-gaap Unrecognized Tax Benefits
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
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CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2023 morn Unrecognized Tax Benefits Net Change Before Settlements With Taxing Authorities And Lapses Of Statutes Of Limitations
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CY2023 morn Unrecognized Tax Benefits Result Of Tax Position Taken During Period
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CY2023 morn Unrecognized Tax Benefits Increase In Income Tax Expense
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500000000 usd
CY2023 us-gaap Stock Repurchased During Period Shares
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CY2023 dei Document Period End Date
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CY2023 dei Auditor Name
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CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
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1600000 usd
CY2021Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
4500000 usd

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