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Income Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Income Per Share
Income Per Share 

The following table shows how we reconcile our net income and the number of shares used in computing basic and diluted income per share:

 
 
Three months ended March 31
(in millions, except per share amounts)
 
2015

 
2014

 
 
 
 
 
Basic net income per share attributable to Morningstar, Inc.:
 
 

 
 

Net income attributable to Morningstar, Inc.:
 
$
29.7

 
$
26.4

Less: Distributed earnings available to participating securities
 
—

 
—

Less: Undistributed earnings available to participating securities
 
—

 
—

Numerator for basic net income per share — undistributed and distributed earnings available to common shareholders
 
$
29.7

 
$
26.4

 
 
 
 
 
Weighted average common shares outstanding
 
44.3

 
44.8

 
 
 
 
 
Basic net income per share attributable to Morningstar, Inc.
 
$
0.67

 
$
0.59

 
 
 
 
 
Diluted net income per share attributable to Morningstar, Inc.:
 
 
 
 
Numerator for basic net income per share — undistributed and distributed earnings available to common shareholders
 
$
29.7

 
$
26.4

Add: Undistributed earnings allocated to participating securities
 
—

 
—

Less: Undistributed earnings reallocated to participating securities
 
—

 
—

Numerator for diluted net income per share — undistributed and distributed earnings available to common shareholders
 
$
29.7

 
$
26.4

 
 


 


Weighted average common shares outstanding
 
44.3

 
44.8
Net effect of dilutive stock options, restricted stock units, and performance share awards
 
0.2

 
0.3

Weighted average common shares outstanding for computing diluted income per share
 
44.5

 
45.1

 
 


 
 
Diluted net income per share attributable to Morningstar, Inc.
 
$
0.67

 
$
0.58


The following table shows the number of restricted stock units and performance share awards excluded from our calculation of diluted earnings per share because their inclusion would have been anti-dilutive:

 
 
Three months ended March 31
(in thousands)
 
2015

 
2014

Weighted average restricted stock units
 
32

 
6

Weighted average performance share awards
 
18

 
9

Total
 
50

 
15


Stock options and restricted stock could be included in the calculation in the future.