2010 10-K: Part III 20. Selected Quarterly Financial Data (unaudited, continued)  (2) The following tables reconcile the amounts as presented in this table of Selected Quarterly Financial Data with the  previously reported amounts. See Note 2 for additional information  concerning the restated financial information. 2009  2010 (in thousands except per share amounts)  Q1  Q2  Q3  Q4  Q1  Q2  Q3  Q4 Total operating expense—as reported  $ 82,107  $ 86,845  $ 86,405  $ 98,319  $ 97,348  $108,424  $ 109,656  $ 118,864 Adjustments  37  537  36  37  —  —  —  — Total operating expense—as adjusted  $ 82,144  $ 87,382  $ 86,441  $ 98,356  $ 97,348  $108,424  $ 109,656  $ 118,864 Operating income—as reported  $ 34,625  $ 32,688  $ 33,683  $ 24,324  $ 30,942  $ 27,667  $ 30,161  $ 32,289 Adjustments  (37)  (537)  (36)  (37)  —  —  —  — Operating income—as adjusted  $ 34,588  $ 32,151  $ 33,647  $ 24,287  $ 30,942  $ 27,667  $ 30,161  $ 32,289 Income before income taxes and  $ 35,159  $ 34,660  $ 34,476  $ 23,959  $ 30,763  $ 27,688  $ 36,367  $ 32,973 equity in net income of unconsolidated entities—as reported Adjustments  (37)  (537)  (36)  (37)  —  —  —  — Income before income taxes and  equity in net income of unconsolidated entities—as adjusted  $ 35,122  $ 34,123  $ 34,440  $ 23,922  $ 30,763  $ 27,688  $ 36,367  $ 32,973 Income tax expense—as reported  $ 10,668  $ 14,024  $ 12,407  $ 9,996  $ 10,995  $ 10,225  $ 15,807  $  5,729 Adjustments  87  (68)  86  (425)  —  —  (3,890)  3,890 Income tax expense—as adjusted  $ 10,755  $ 13,956  $ 12,493  $ 9,571  $ 10,995  $ 10,225  $  11,917  $  9,619 Consolidated net income—as reported  $ 24,873  $ 20,615  $ 22,498  $ 14,338  $ 20,157  $ 17,917  $ 20,893  $ 27,490 Adjustments  (124)  (469)  (122)  388  —  —  3,890  (3,890) Consolidated net income—as adjusted  $ 24,749  $ 20,146  $ 22,376  $ 14,726  $ 20,157  $ 17,917  $ 24,783  $ 23,600 Net income attributable to  $ 24,962  $ 20,544  $ 22,520  $ 14,430  $ 20,188  $ 18,002  $ 20,787  $ 27,393 Morningstar, Inc.—as reported Adjustments  (124)  (469)  (122)  388  —  —  3,890  (3,890) Net income attributable to  Morningstar, Inc.—as adjusted  $ 24,838  $ 20,075  $ 22,398  $ 14,818  $ 20,188  $ 18,002  $ 24,677  $ 23,503 Basic net income per share attributable  $  0.53  $  0.43  $  0.46  $  0.30  $  0.41  $  0.37  $  0.42  $  0.55 to Morningstar, Inc.—as reported Adjustments  (0.01)  (0.01)  —  —  —  —  0.08  (0.08) Basic net income per share attributable to Morningstar, Inc.—as adjusted  $  0.52  $  0.42  $  0.46  $  0.30  $  0.41  $  0.37  $  0.50  $  0.47 Diluted net income per share attributable  $  0.51  $  0.41  $  0.45  $  0.29  $  0.40  $  0.36  $  0.41  $  0.54 to Morningstar, Inc.—as reported Adjustments  —  (0.01)  —  —  —  —  0.08  (0.08) Diluted net income per share attributable to Morningstar, Inc.—as adjusted  $  0.51  $  0.40  $  0.45  $  0.29  $  0.40  $  0.36  $  0.49  $  0.46 138