Contractual Obligations The table below shows our known contractual obligations as of December 31, 2010 and the expected timing of cash payments related to  these contractual obligations: (1) The non-cancelable operating lease obligations are mainly for lease commitments for office space. (2) Represents unrecognized tax benefits (including penalties and interest, less the impact of any associated tax benefits) recorded in accordance with FASB ASC 740,  Income Taxes . The  amount included in the table represents amounts for which the statutes of limitations are expected to lapse during 2011. The table excludes $8.2 million of unrecognized tax benefits,  included as a long-term liability in our Consolidated Balance Sheet as of December 31, 2010, for which we cannot make a reasonably reliable estimate of the period of payment. Our investment portfolio is actively managed and may suffer losses  from fluctuating interest rates, market prices, or adverse security  selection. Our investment portfolio is mainly invested in high-qual- ity fixed-income securities. We do not have any direct exposure to  sub-prime mortgages. As of December 31, 2010, our cash, cash  equivalents, and investments balance was $365.4 million. Based  on our estimates, a 100 basis-point change in interest rates would  have increased or decreased the fair value of our investment port- folio by approximately $0.8 million. As our non-U.S. revenue increases as a percentage of our consoli- dated revenue, fluctuations in foreign currencies present a greater  potential risk. To date, we have not engaged in currency hedging,  and we do not currently have any positions in derivative instruments  to hedge our currency risk. Our results could suffer if certain foreign  currencies decline relative to the U.S. dollar. In addition, because  we use the local currency of our subsidiaries as the functional cur- rency, we are affected by the translation of foreign currencies into  U.S. dollars. Item 7A. Quantitative and Qualitative Disclosures  about Market Risk ($000) 2011  2012  2013  2014  2015  Thereafter  Total Minimum commitments on non-cancelable operating $ 19,398  $ 16,391  $ 14,279  $ 14,723  $ 14,296  $ 74,458  $ 153,545  lease obligations (1) Unrecognized tax benefits (2)  654  —  —  —  —  —  654 Remaining payments related to Shenzhen office build-out 1,694  —  —  —  —  —  1,694 Total $ 21,746  $ 16,391  $ 14,279  $ 14,723  $ 14,296  $ 74,458  $ 155,893 Morningstar, Inc. 2010 Annual Report 97