MSCI Inc. Files Q3 2024 10-Q Report

TL;DR

MSCI Q3 2024 10-Q filed. Financials and operations detailed.

AI Summary

MSCI Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers financial performance and operational details for the third quarter and the year-to-date period. Key financial data and business segments are detailed within the report.

Why It Matters

This report provides investors and analysts with a detailed look at MSCI's financial health and operational performance for the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Players & Entities

• MSCI Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2024-10-31 (date) — Filing date of the report

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share MSCI New York Stock Exchange
• $0 — he registrant's common stock, par value $0.01, outstanding. Table of Contents

Filing Documents

• msci-20240930.htm (10-Q) — 2112KB
• ex101_ecownershipxpolicyx2.htm (EX-10.1) — 33KB
• msci-20240930xexx311.htm (EX-31.1) — 10KB
• msci-20240930xexx312.htm (EX-31.2) — 10KB
• msci-20240930xexx321.htm (EX-32.1) — 5KB
• msci-20240930_g1.gif (GRAPHIC) — 5KB
• 0001408198-24-000170.txt ( ) — 9235KB
• msci-20240930.xsd (EX-101.SCH) — 52KB
• msci-20240930_cal.xml (EX-101.CAL) — 100KB
• msci-20240930_def.xml (EX-101.DEF) — 217KB
• msci-20240930_lab.xml (EX-101.LAB) — 639KB
• msci-20240930_pre.xml (EX-101.PRE) — 479KB
• msci-20240930_htm.xml (XML) — 1515KB

– Financial Information

Part I – Financial Information Item 1.

Financial Statements

Financial Statements 4 Condensed Consolidated Statements of Financial Condition as of September 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Shareholders' Equity (Deficit) for the thre e and nine months ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 9 Notes to Condensed Consolidated Financial Statements 10 1. Introduction and Basis of Presentation 10 2. Recent Accounting Pronouncements 11 3. Revenue Recognition 11 4. Earnings Per Common Share 12 5. Acquisitions 13 6. Property, Equipment and Leasehold Improvements, Net 16 7. Goodwill and Intangible Assets, Net 16 8. Debt 17 9. Leases 19 10. Shareholders' Equity (Deficit) 20 11. Income Taxes 21 12. Segment Information 22 13. Subsequent Events 25 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 48

– Other Information

Part II – Other Information Item 1.

Legal Proceedings

Legal Proceedings 49 Item 1A.

Risk Factors

Risk Factors 49 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49

Other Information

Item 5. Other Information 49 Item 6. Exhibits 50 2 Table of Contents AVAILABLE INFORMATION Our corporate headquarters is located at 7 World Trade Center, 250 Greenwich Street, 49th Floor, New York, New York, 10007, and our telephone number is (212) 804-3900. We maintain a website on the internet at www.msci.com. The contents of our website are not a part of or incorporated by reference in this Quarterly Report on Form 10-Q. We file annual, quarterly and current reports, proxy statements and other information with the Securities and Exchange Commission (the "SEC"). The SEC maintains a website that contains reports, proxy and information statements and other information that we file electronically with the SEC at www.sec.gov. We also make available free of charge, on or through our website, these reports, proxy statements and other information as soon as reasonably practicable following the time they are electronically filed with or furnished to the SEC. To access these, click on the "SEC Filings" link under the "Financial Information" tab found on our Investor Relations homepage (http://ir.msci.com). We also use our Investor Relations homepage and our Corporate Responsibility homepage as channels of distribution of Company information. The information we post through these channels may be deemed material. Accordingly, investors should monitor these channels, in addition to following our press releases, SEC filings and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about us when you enroll your email address by visiting the "Email Alerts" section of our Investor Relations homepage at https://ir.msci.com/email-alerts. The contents of our website, including our Investor Relations homepage and Corporate Responsibility homepage, and our social media channels are not, however, a part of or incorporated by reference in this Quarterly Report on Form 10-Q.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS We have included in this Quarterly Report on Form 10-Q, and from time to time may make in our public filings, press releases or other public statements, certain statements that constitute forward-looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward-looking statements are not historical facts and represent only MSCI's beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential" or "continue," or the negative of these terms or other comparable terminology. Statements concerning our financial position, business strategy and plans or objectives for future operations are forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and that could materially affect our actual results, levels of activity, performance or achievements. Such risks and uncertainties include those set forth under "Risk Factors" in Part I, Item 1A of the 2023 Annual Report on Form 10-K filed with the SEC on February 9, 2024. If any of these risks, uncertainties or other factors materialize, or if MSCI's underlying assumptions prove to be incorrect, actual results may vary significantly from what MSCI projected. Any forward-looking statement ref

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements MSCI INC. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (in thousands, except per share and share data) As of September 30, December 31, (unaudited) 2024 2023 ASSETS Current assets: Cash and cash equivalents (includes restricted cash of $ 3,909 and $ 3,878 at September 30, 2024 and December 31, 2023, respectively) $ 500,979 $ 461,693 Accounts receivable (net of allowances of $ 4,363 and $ 3,968 at September 30, 2024 and December 31, 2023, respectively) 643,807 839,555 Prepaid income taxes 77,493 59,002 Prepaid and other assets 63,517 57,903 Total current assets 1,285,796 1,418,153 Property, equipment and leasehold improvements, net 62,317 55,920 Right of use assets 121,726 115,243 Goodwill 2,916,102 2,887,692 Intangible assets, net 931,428 956,234 Deferred tax assets 41,761 41,074 Other non-current assets 49,819 43,903 Total assets $ 5,408,949 $ 5,518,219 LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 8,748 $ 9,812 Income taxes payable 38,744 24,709 Accrued compensation and related benefits 179,041 219,456 Current portion of long-term debt — 10,902 Other accrued liabilities 208,542 168,282 Deferred revenue 942,840 1,083,864 Total current liabilities 1,377,915 1,517,025 Long-term debt 4,484,773 4,496,826 Long-term operating lease liabilities 123,939 120,134 Deferred tax liabilities 61,281 27,028 Other non-current liabilities 112,039 96,970 Total liabilities 6,159,947 6,257,983 Commitments and Contingencies (see Note 8) Shareholders' equity (deficit): Preferred stock (par value $ 0.01 ; 100,000,000 shares authorized; no shares issued) — — Common stock (par value $ 0.01 ; 750,000,000 common shares authorized; 134,079,131 and 133,817,332 common shares issued and 78,371,202 and 79,091,212 common shares outstanding at September 30, 2024 and December 31, 2023, respectively) 1,341 1,338 Treasury shares, at cost ( 55,707,929 and 54,726,120 common

View Full Filing

View this 10-Q filing on SEC EDGAR