Morningstar Inc

For the period ended Dec 31, 2024. Filed Feb 28, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 28, 2025

MORN$246.15+0.8%Stored close · as of Nov 9, 2026

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Contents

Part I	3
	Item 1. Business	3
	Item 1A. Risk Factors	30
	Item 1B. Unresolved Staff Comments	48
	Item 1C. Cybersecurity	48
	Item 2. Properties	50
	Item 3. Legal Proceedings	50
	Item 4. Mine Safety Disclosures	50
Part II	51
	Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	51
	Item 6. [Reserved]	51
	Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations	51
	Item 7A. Quantitative and Qualitative Disclosures about Market Risk	75
	Item 8. Financial Statements and Supplementary Data	76
	Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	118
	Item 9A. Controls and Procedures	119
	Item 9B. Other Information	119
	Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	120
Part III	120
	Item 10. Directors, Executive Officers, and Corporate Governance	121
	Item 11. Executive Compensation	121
	Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	121
	Item 13. Certain Relationships and Related Transactions, and Director Independence	121
	Item 14. Principal Accountant Fees and Services	121
Part IV.	122
	Item 15. Exhibits and Financial Statement Schedules	122

ContentsView on SEC.gov

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About this filing

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