$MYGN
MYRIAD GENETICS INC

2019 Q4 Form 10-Q Financial Statement

#000156459020003770 Filed on February 07, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $195.1M $216.8M
YoY Change -10.01% 15.38%
Cost Of Revenue $49.60M $52.10M
YoY Change -4.8% 17.34%
Gross Profit $145.5M $164.7M
YoY Change -11.66% 14.77%
Gross Profit Margin 74.58% 75.97%
Selling, General & Admin $134.3M $135.2M
YoY Change -0.67% 25.88%
% of Gross Profit 92.3% 82.09%
Research & Development $18.80M $22.40M
YoY Change -16.07% 33.33%
% of Gross Profit 12.92% 13.6%
Depreciation & Amortization $3.000M $2.600M
YoY Change 15.38% -31.58%
% of Gross Profit 2.06% 1.58%
Operating Expenses $153.1M $157.6M
YoY Change -2.86% 26.89%
Operating Profit -$8.800M $6.100M
YoY Change -244.26% -3.17%
Interest Expense $2.500M $3.400M
YoY Change -26.47% 385.71%
% of Operating Profit 55.74%
Other Income/Expense, Net -$2.600M -$2.500M
YoY Change 4.0% 257.14%
Pretax Income -$11.40M $3.600M
YoY Change -416.67% -35.71%
Income Tax -$3.100M $1.000M
% Of Pretax Income 27.78%
Net Earnings -$8.300M $2.600M
YoY Change -419.23% -91.59%
Net Earnings / Revenue -4.25% 1.2%
Basic Earnings Per Share -$0.11 $0.04
Diluted Earnings Per Share -$0.11 $0.03
COMMON SHARES
Basic Shares Outstanding 74.40 74.20
Diluted Shares Outstanding 74.40 76.50

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $141.6M $165.4M
YoY Change -14.39% 15.26%
Cash & Equivalents $81.20M $90.60M
Short-Term Investments $60.40M $74.80M
Other Short-Term Assets $73.80M $15.60M
YoY Change 373.08% -14.29%
Inventory $28.10M $33.30M
Prepaid Expenses
Receivables $118.3M $116.6M
Other Receivables $3.500M $5.900M
Total Short-Term Assets $365.3M $336.8M
YoY Change 8.46% 3.0%
LONG-TERM ASSETS
Property, Plant & Equipment $36.50M $59.10M
YoY Change -38.24% 22.11%
Goodwill $408.1M $413.2M
YoY Change -1.23%
Intangibles $653.5M $717.6M
YoY Change -8.93%
Long-Term Investments $47.60M $29.90M
YoY Change 59.2% -48.89%
Other Assets
YoY Change
Total Long-Term Assets $1.213B $1.220B
YoY Change -0.56% 35.31%
TOTAL ASSETS
Total Short-Term Assets $365.3M $336.8M
Total Long-Term Assets $1.213B $1.220B
Total Assets $1.578B $1.557B
YoY Change 1.39% 26.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.00M $31.90M
YoY Change -34.17% 27.09%
Accrued Expenses $61.10M $73.70M
YoY Change -17.1% 21.22%
Deferred Revenue $3.600M $2.400M
YoY Change 50.0% -29.41%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $112.4M $113.3M
YoY Change -0.79% -28.88%
LONG-TERM LIABILITIES
Long-Term Debt $225.1M $273.3M
YoY Change -17.64% 532.64%
Other Long-Term Liabilities $88.00M $6.600M
YoY Change 1233.33% 0.0%
Total Long-Term Liabilities $225.1M $279.9M
YoY Change -19.58% 462.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $112.4M $113.3M
Total Long-Term Liabilities $225.1M $279.9M
Total Liabilities $501.0M $492.5M
YoY Change 1.73% 56.7%
SHAREHOLDERS EQUITY
Retained Earnings -$3.300M $22.90M
YoY Change -114.41%
Common Stock $1.086B $1.046B
YoY Change 3.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.077B $1.064B
YoY Change
Total Liabilities & Shareholders Equity $1.578B $1.557B
YoY Change 1.39% 26.71%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income -$8.300M $2.600M
YoY Change -419.23% -91.59%
Depreciation, Depletion And Amortization $3.000M $2.600M
YoY Change 15.38% -31.58%
Cash From Operating Activities -$3.400M $37.80M
YoY Change -108.99% 14.55%
INVESTING ACTIVITIES
Capital Expenditures -$3.400M -$2.800M
YoY Change 21.43% 33.33%
Acquisitions
YoY Change
Other Investing Activities -$3.800M -$5.300M
YoY Change -28.3% 112.0%
Cash From Investing Activities -$7.200M -$8.100M
YoY Change -11.11% 76.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.100M -32.60M
YoY Change -103.37% 24.9%
NET CHANGE
Cash From Operating Activities -3.400M 37.80M
Cash From Investing Activities -7.200M -8.100M
Cash From Financing Activities 1.100M -32.60M
Net Change In Cash -9.500M -2.900M
YoY Change 227.59% -226.09%
FREE CASH FLOW
Cash From Operating Activities -$3.400M $37.80M
Capital Expenditures -$3.400M -$2.800M
Free Cash Flow $0.00 $40.60M
YoY Change -100.0% 15.67%

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us-gaap Increase Decrease In Other Receivables
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Taxes
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us-gaap Increase Decrease In Prepaid Taxes
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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-11800000
us-gaap Increase Decrease In Accrued Liabilities
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-4700000
us-gaap Increase Decrease In Contract With Customer Liability
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1600000
us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Revenue Performance Obligation Description Of Payment Terms
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This practical expedient has been elected because the Company collects very little cash from customers under payment terms and vast majority of payments terms have a payback period of less than one year.
CY2019Q4 mygn Revenue Increase Decrease Reduction Performance Obligation
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mygn Revenue Increase Decrease Reduction Performance Obligation
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CY2019Q4 mygn Earnings Per Share Increase Decrease Reduction Performance Obligation
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mygn Earnings Per Share Increase Decrease Reduction Performance Obligation
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us-gaap Net Cash Provided By Used In Investing Activities
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mygn Proceeds From Repayments Of Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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4500000
us-gaap Payment For Contingent Consideration Liability Financing Activities
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us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93200000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110900000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90600000
us-gaap Basis Of Accounting
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<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.46%;white-space:nowrap" valign="top"> <p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">(1)</span></p></td> <td valign="top"> <p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">BASIS OF PRESENTATION</p></td></tr></table></div> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying condensed consolidated financial statements have been prepared by Myriad Genetics, Inc. (the “Company” or “Myriad”) in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries.  All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with GAAP. The condensed consolidated financial statements herein should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the fiscal year ended June 30, 2019, included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2019. Operating results for the three and six months ended December 31, 2019 may not necessarily be indicative of results to be expected for any other interim period or for the full year.</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The consolidated financial statements include the accounts of the Company’s majority-owned subsidiary, Assurex Canada, Ltd. which is 85% owned by Assurex Health, Inc. (“Assurex”), a wholly owned subsidiary of the Company, and 15% owned by the Centre for Addiction and Mental Health. Assurex Canada, Ltd. is a consolidated subsidiary of Assurex Health, Inc. The value of the non-controlling interest represents the portion of Assurex Canada, Ltd.’s profit or loss and net assets that is not held by Assurex Health, Inc. The Company attributes comprehensive income or loss of the subsidiary between the Company and the non-controlling interest based on the respective ownership interest.</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net assets held for sale represent land, buildings and other assets and liabilities for locations that have met the criteria of "held for sale" accounting, as specified by Accounting Standards Codifications ("ASC") 360, "Property, Plant, and Equipment," and are recorded at the lower of carrying value or fair value less costs to sell. Fair value is based on the estimated proceeds from the sale of the net assets utilizing recent purchase offers, market comparables and/or reliable third-party data and costs to sell include direct costs that are estimable and probable. The Company's fair value estimates are regularly reviewed, and the net assets classified as held for sale are subject to changes. Net assets held for sale are currently marketed for sale and it is the Company's intention to complete the sale of these net assets within twelve months following their initial classification as held for sale. See Note 18 for additional information regarding assets and liabilities held for sale.</p> <p style="margin-top:18pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Recent Accounting Pronouncements</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Recently Adopted Standards </p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and changing certain lessor accounting requirements. ASU 2016-02 also requires entities to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. On July 1, 2019, the Company adopted ASU 2016-02 under the modified retrospective approach by initially applying ASU 2016-02 at the adoption date, rather than at the beginning of the earliest comparative period presented. Results for the three and six months ended December 31, 2019 are presented under ASU 2016-02. Prior period amounts were not adjusted and continue to be reported under previous lease accounting guidance.</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Under ASU 2016-02, the Company determines if an arrangement is or contains a lease at inception by assessing whether the arrangement contains an identified asset and whether it has the right to control the identified asset. Right-of-use (“ROU”) assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Lease liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. ROU assets are based on the measurement of the lease liability and also include any lease payments made prior to or on lease commencement and exclude lease incentives and initial direct costs incurred, as applicable.</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As the implicit rate in the Company's leases is generally unknown, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future lease payments. When calculating the Company’s incremental borrowing rates, the Company gives consideration to its credit risk, term of the lease, total lease payments and adjust for the impacts of collateral, as necessary. The lease term used may reflect any option to extend or terminate the lease when it is reasonably certain the Company will exercise such options. Lease expenses for the Company's operating leases are recognized on a straight-line basis over the lease term.</p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ASU 2016-02 provides a number of optional practical expedients in transitioning to ASU 2016-02. The Company has elected the package of practical expedients to avoid reassessing under ASU 2016-02 prior conclusions about lease identification, lease </p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">classification and initial direct costs. The Company has also elected the practical expedient allowing the use of hindsight in determining the lease term and assessing impairment of right-of-use ROU assets based on all facts and circumstances through the effective date of the new standard. ASU 2016-02 also provides practical expedients for ongoing lease accounting. The Company has elected the recognition exemption for short-term leases for all leases that qualify. Under this exemption, the Company will not recognize ROU assets or lease liabilities for those leases that qualify as a short-term lease (leases with lease terms of 12 months or less), which includes not recognizing ROU assets or lease liabilities for existing short-term leases in transition. The Company also has elected the practical expedient to avoid separating lease and non-lease components for any of its leases within its existing classes of assets.</span></p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of the July 1, 2019 adoption date, the Company recognized operating lease liabilities of $78.8 and right-of-use assets related to operating leases totaling $74.5 as of the adoption date. These are presented as “Current maturities of operating lease liabilities” for a total of $13.1, “Noncurrent operating lease liabilities” for a total of $65.7, and “Operating lease right-of-use assets” for a total of $74.5 on the Company’s consolidated balance sheet. <span style="color:#000000;">No adjustments to the beginning retained earnings balance were required.</span></p> <p style="margin-top:6pt;margin-bottom:0pt;margin-left:4.46%;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October 1, 2019, the Company adopted early ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) (“ASU 2017-04”) as permitted under the standard. The standard simplifies the accounting for goodwill impairment by requiring a goodwill impairment to be measured using a single step impairment model, whereby the impairment equals the difference between the carrying amount and the fair value of the specified reporting units as a whole. This eliminates the second step of the current impairment model that requires a company to first estimate the fair value of all assets in a reporting unit and measure impairments based on those fair values and a residual measurement approach. The standard also specifies that any loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This ASU was adopted on a prospective basis with no material impact to the Company’s consolidated financial statements. </p> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:4.46%;text-indent:0%;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Standards Effective in Future Years and Not Yet Adopted</p> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:4.46%;text-indent:0%;font-size:6pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) (“ASU 2016-13”) which introduces new guidance for the accounting for credit losses on certain instruments within its scope. ASU 2016-13 introduces an approach based on expected losses to estimate credit losses on certain types of financial instruments. For trade receivables, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which reflects losses that are probable. Credit losses relating to available-for-sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. ASU 2016-13 is effective for fiscal years beginning after December 31, 2019, including interim periods within those years. Early application of the guidance is permitted for all entities for fiscal years beginning after December 15, 2018, including the interim periods within those fiscal years. Application of the amendments is through a cumulative-effect adjustment to retained earnings as of the effective date. The Company is currently evaluating the impact of ASU 2016-13 on its consolidated financial statements<span style="color:#000000;">.</span></p> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:4.46%;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p>
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Contract With Customer Liability Revenue Recognized
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mygn Contract With Customer Liability Prepayments
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CY2019Q4 us-gaap Contract With Customer Liability Current
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CY2018Q4 us-gaap Contract With Customer Liability Current
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us-gaap Revenue Practical Expedient Remaining Performance Obligation Description
RevenuePracticalExpedientRemainingPerformanceObligationDescription
In accordance with ASU 2014-09, the Company has elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its contracts that are one year or less, as the revenue is expected to be recognized within the next year. Furthermore, the Company has elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its agreements wherein the Company’s right to payment is in an amount that directly corresponds with the value of Company’s performance to date. However, the Company periodically enters into arrangements with customers to provide diagnostic testing and/or pharmaceutical and clinical services that may have terms longer than one year and include multiple performance obligations.
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
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CY2019Q4 us-gaap Investments And Cash
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CY2019Q4 mygn Investments And Cash At Fair Value
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CY2019Q2 us-gaap Available For Sale Securities Debt Securities
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CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
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CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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CY2019Q4 mygn Investments And Cash At Fair Value
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CY2019Q2 us-gaap Land
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CY2019Q4 us-gaap Leasehold Improvements Gross
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CY2019Q2 us-gaap Leasehold Improvements Gross
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CY2019Q4 us-gaap Machinery And Equipment Gross
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CY2019Q2 us-gaap Machinery And Equipment Gross
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CY2019Q4 us-gaap Property Plant And Equipment Gross
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CY2019Q2 us-gaap Property Plant And Equipment Gross
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us-gaap Depreciation
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us-gaap Depreciation
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CY2019Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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us-gaap Goodwill Impairment Loss
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us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2019Q4 us-gaap Goodwill
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CY2019Q2 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2018Q4 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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225100000
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CY2018Q2 us-gaap Common Stock Shares Issued
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CY2019 us-gaap Stock Repurchased And Retired During Period Shares
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CY2019Q4 us-gaap Common Stock Shares Outstanding
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CommonStockSharesOutstanding
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CY2019Q2 us-gaap Common Stock Shares Issued
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74100000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2018Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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2300000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3300000
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74400000
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76500000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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74100000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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76900000
CY2019Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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900000
CY2018Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1100000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1300000
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600000
CY2019Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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110700000
CY2018Q4 mygn Amount Of Reduction In Common Stock As Result Of Stock Repurchases
AmountOfReductionInCommonStockAsResultOfStockRepurchases
16900000
mygn Amount Of Reduction In Common Stock As Result Of Stock Repurchases
AmountOfReductionInCommonStockAsResultOfStockRepurchases
16900000
CY2018Q4 mygn Amount Charged To Retained Earnings As Result Of Stock Repurchases
AmountChargedToRetainedEarningsAsResultOfStockRepurchases
33100000
mygn Amount Charged To Retained Earnings As Result Of Stock Repurchases
AmountChargedToRetainedEarningsAsResultOfStockRepurchases
33100000
CY2019Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3100000
CY2019Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.272
CY2018Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000.0
CY2018Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.278
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
Options and RSUs granted to our non-employee directors vest in full upon completion of one year of service on the Board following the date of the grant
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
24.45
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0
us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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22.83
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
200000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
29.08
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4900000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
24.40
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4900000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
24.40
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5500000
CY2019Q4 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2018Q4 us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
15800000
us-gaap Share Based Compensation
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FairValueNetAssetLiability
110300000
CY2019Q2 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
104500000
CY2019Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
13800000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
3900000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
600000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
-200000
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
10300000
CY2019Q3 us-gaap Loss Contingency Settlement Agreement Date
LossContingencySettlementAgreementDate
July 18, 2019
CY2019Q3 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
9100000
CY2019Q4 us-gaap Loss Contingency Date Of Dismissal
LossContingencyDateOfDismissal
2019-10-29
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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7800000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
14800000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13500000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12400000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12100000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
19300000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
79900000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M12D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0387
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
15100000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
14100000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
13100000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
12200000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
11900000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
19100000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
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mygn Percent Of Employee Contribution To Deferred Savings Plan
PercentOfEmployeeContributionToDeferredSavingsPlan
0.50
mygn Employers Contribution Not To Exceed Percentage Of Employees Compensation
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0.04
CY2019Q4 us-gaap Operating Income Loss
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CY2018Q4 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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381400000
us-gaap Depreciation And Amortization
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36400000
CY2019Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
800000
us-gaap Operating Income Loss
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
419100000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
36300000
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
216800000
CY2018Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
18000000.0
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
6100000
CY2019Q4 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
2100000
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
4600000
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
3700000
us-gaap Number Of Reportable Segments
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2
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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195100000
CY2019Q4 us-gaap Depreciation And Amortization
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18200000
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2018Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
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us-gaap Investment Income Interest
InvestmentIncomeInterest
1700000
us-gaap Investment Income Interest
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1600000
CY2019Q4 us-gaap Interest Expense
InterestExpense
2500000
CY2018Q4 us-gaap Interest Expense
InterestExpense
3400000
us-gaap Interest Expense
InterestExpense
5400000
us-gaap Interest Expense
InterestExpense
5600000
CY2019Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1100000
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-11400000
CY2018Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3600000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4400000
CY2019Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2018Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2019Q4 us-gaap Profit Loss
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CY2018Q4 us-gaap Profit Loss
ProfitLoss
2600000
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
1800000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
1900000
us-gaap Income Taxes Paid
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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CY2019Q4 us-gaap Accrued Liabilities And Other Liabilities
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4300000

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