(1) In 2010, we determined that the cumulative effect of adjustments related to prior periods were material, in aggregate, if recorded in our 2010 Consolidated Financial Statements. These  amounts related primarily to our accounting for deferred taxes and, to a lesser extent, to expense adjustments associated with vacant office space and rent for one of our office leases.  We evaluated the effects of these errors on our prior periods’ Consolidated Financial Statements, individually and in the aggregate, in accordance with the materiality guidance provided  by the SEC staff, as included in SAB Topics 1M and 1N, and concluded that no prior period is materially misstated. However, in accordance with the provisions of these SAB Topics, we  restated our Consolidated Financial Statements for years prior to 2010. See Note 2 in the Notes to our Consolidated Financial Statements for additional information concerning the  restated financial information for the years ended December 31, 2009 and 2008. The following table reconciles the amounts as presented in this table of Selected Financial Data with the  previously reported amounts: Reconciliation of Selected Financial Data to Previously Reported Amounts Morningstar, Inc.  2010 Annual Report 59 (in thousands except per share amounts)  2006  2007  2008  2009 Operating expense—as reported  $ 237,648  $ 317,853  $ 363,338  $ 353,676 Adjustments  —  233  243  647 Operating expense—as adjusted  $ 237,648  $ 318,086  $ 363,581  $ 354,323 Operating income—as reported  $ 77,527  $ 117,254  $ 139,119  $ 125,320 Adjustments  —  (233)  (243)  (647) Operating income—as adjusted  $ 77,527  $ 117,021  $ 138,876  $ 124,673 Income before income taxes, equity in net income $  81,691  $ 123,483  $ 143,371  $ 128,254  of unconsolidated entities, and cumulative effect of accounting change—as reported Adjustments  —  (233)  (243)  (647) Income before income taxes, equity in net income of unconsolidated entities, and cumulative effect of accounting change—as adjusted  $  81,691  $ 123,250  $ 143,128  $ 127,607 Income tax expense—as reported  $ 32,975  $ 51,255  $ 51,763  $ 47,095 Adjustments  1,119  355  2,660  (320) Income tax expense—as adjusted  $ 34,094  $  51,610  $ 54,423  $ 46,775 Consolidated income before cumulative effect $  51,503  $ 73,922  $ 92,929  $ 82,324  of accounting change—as reported Adjustments  (1,119)  (588)  (2,903)  (327) Consolidated income before cumulative effect of accounting change—as adjusted  $ 50,384  $ 73,334  $ 90,026  $  81,997 Consolidated net income—as reported  $  51,762  $ 73,922  $ 92,929  $ 82,324 Adjustments  (1,119)  (588)  (2,903)  (327) Consolidated net income—as adjusted  $ 50,643  $ 73,334  $ 90,026  $  81,997 Consolidated net income attributable to $  51,762  $ 73,922  $ 92,532  $ 82,456  Morningstar, Inc.—as reported Adjustments  (1,119)  (588)  (2,903)  (327) Consolidated net income attributable to Morningstar, Inc.—as adjusted  $ 50,643  $ 73,334  $ 89,629  $  82,129