content_image/209466.jpg content_image/209467.jpg content_image/209469.jpg content_image/209470.jpg content_image/209465.jpg content_image/209468.jpg
## 9. Property, Equipment, and Capitalized Software 

The following table shows our property, equipment, and capitalized software summarized by major category: 

<img src='content_image/209466.jpg'>

The following table summarizes our depreciation expense: 

<img src='content_image/209467.jpg'>

## 10. Operating Leases 

The following table shows our minimum future rental commitments due in each of the next five years and thereafter for all non-cancel- able operating leases, consisting primarily of leases for office space: 

<img src='content_image/209469.jpg'>

The following table summarizes our rent expense including taxes, insurance, and other operating costs: 

<img src='content_image/209470.jpg'>

Deferred rent includes build-out and rent abatement allowances received, which are amortized over the remaining portion of the original term of the lease as a reduction in office lease expense. We include deferred rent, as appropriate, in “Accounts payable and accrued liabilities” and “Other long-term liabilities” on our Consolidated Balance Sheets. 

<img src='content_image/209465.jpg'>

## Liability for Vacant Office Space 

In 2010 and 2009, we recorded changes to our liability for vacant office space, primarily for the former Ibbotson headquarters. We increased the liability related to this vacant office space because we anticipated receiving lower sublease income and expected it would take more time than previously estimated to identify a tenant. In addition, we increased our liability for vacant office space related to the equity research and data business acquired from CPMS. 

We include our liability for vacant office space, as appropriate, in “Accounts payable and accrued liabilities” and “Other long-term liabilities” on our Consolidated Balance Sheets. The following table shows the change in our liability for vacant office space from December 31, 2008 to December 31, 2010: 

<img src='content_image/209468.jpg'>

## 11. Stock-Based Compensation 

## Stock-Based Compensation Plans 

In November 2004, we adopted the 2004 Stock Incentive Plan. The 2004 Stock Incentive Plan provides for grants of options, stock appreciation rights, restricted stock units, restricted stock, and performance shares. All of our employees and our non-employee directors are eligible for awards under the 2004 Stock Incentive 

