Morningstar (Morningstar) Intangible Assets

: $2,063 Mil (As of Dec. 2023)

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Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Morningstar's intangible assets for the quarter that ended in Dec. 2023 was $2,063 Mil.

Morningstar Intangible Assets Historical Data

The historical data trend for Morningstar's Intangible Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Morningstar Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Intangible Assets

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1,372.50

1,585.10

1,535.20

2,120.30

2,063.20

Morningstar Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Intangible Assets	Get a 7-Day Free Trial															2,120.30	2,109.80	2,103.20	2,064.40	2,063.20

Morningstar Intangible Assets Calculation

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.

Morningstar (NAS:MORN) Intangible Assets Explanation

If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.

The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.

Some intangibles are amortized. Amortization is the depreciation of intangible assets.

Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.

Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.

If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.

Intangibles acquired are on balance sheet at fair value.

Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.

One of the reasons competitive advantage power can remain hidden for so long.

Be Aware

Companies may change the way intangible assets are amortized, and this will affect their reported earnings.

Morningstar Intangible Assets Related Terms

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Morningstar (Morningstar) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Morningstar Inc (NAS:MORN) » Definitions » Intangible Assets

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MRS:Germany

Address

22 West Washington Street, Chicago, IL, USA, 60602

Website

https://www.morningstar.com

Morningstar Inc is a provider of independent investment research to financial advisers, asset managers, and investors. The company focuses its operations on two core sectors: data and research. It offers data on investments such as mutual funds, stocks, exchange-traded funds, closed-end funds, separate accounts, and variable annuities. Further, the company tracks real-time market data of equity, derivative, and currency exchanges and other investments. In its research operation, Morningstar offers analyst research on passive and active mutual funds, alternative funds, and college saving plans. Morningstar's largest share of revenue is generated in the United States of America.

Executives

Joseph D Mansueto	director, 10 percent owner, officer: Executive Chairman	C/O MORNINGSTAR, INC., 225 WEST WACKER DRIVE, CHICAGO IL 60606
Robin Diamonte	director	C/O MORNINGSTAR, INC., 22 WEST WASHINGTON ST., CHICAGO IL 60602
Gail S Landis	director	MORNINGSTAR, INC., 22 WEST WASHINGTON STREET, CHICAGO IL 60602
Daniel Joseph Dunn	officer: Chief Revenue Officer	C/O MORNINGSTAR, INC., 22 WEST WASHINGTON STREET, CHICAGO IL 60602
Caroline J Tsay	director	C/O ROSETTA STONE INC., 1919 NORTH LYNN STREET, 7TH FLOOR, ARLINGTON VA 22209
Bevin Desmond	officer: Head of Talent and Culture	C/O MORNINGSTAR, INC., 225 WEST WACKER DRIVE, CHICAGO IL 60606
William M Lyons	director	225 WEST WACKER DRIVE, CHICAGO IL 60606
Cheryl A Francis	director	8237 GREYSTONE COURT, BURR RIDGE IL 60527
Doniel Sutton	director	C/O MORNINGSTAR, INC., 22 WEST WASHINGTON STREET, CHICAGO IL 60602
Steven N Kaplan	director	1101 EAST 58TH STREET, CHICAGO IL 60637
Stephen Joynt	director	C/O MORNINGSTAR, INC., 22 W. WASHINGTON STREET, CHICAGO IL 60602
Kimberly J Mcgarry	officer: Global Controller & CAO	22 WEST WASHINGTON STREET, 6TH FLOOR, CHICAGO IL 60602
Jason Dubinsky	officer: Chief Financial Officer	C/O MORNINGSTAR, INC., 22 W. WASHINGTON STREET, CHICAGO IL 60602
Kunal Kapoor	director, officer: CEO	MORNINGSTAR, INC., 22 WEST WASHINGTON STREET, CHICAGO IL 60602
Jack Noonan	director	17000 GULF BLVD, UNIT B, N. REDINGTON BEACH FL 33708