Company: MYGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000899923-25-000086
Chunk: 73

Company: MYRIAD GENETICS INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 rates. As the carrying value for the intangible assets exceeded the relative fair value, the Company recognized an impairment charge of $71.8 million and $10.2 million for the Pharmacogenomics and Gateway intangible asset groups, respectively, during the period ended June 30, 2025.  These expenses are included in "Goodwill and long-lived asset impairment charges" in the Consolidated Statements of Operations. These fair value measurements for the impairment of intangibles assets is classified as Level 3 in the fair value hierarchy because it is based primarily upon unobservable inputs that reflect management's assumptions.The Company recorded amortization expenses during the respective periods for these intangible assets as follows:Three months endedJune 30,Six months endedJune 30,(in millions)2025202420252024Amortization of intangible assets$9.4 $10.6 $18.8 $21.4 

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6.ACCRUED LIABILITIES

The Company's accrued liabilities at June 30, 2025 and December 31, 2024 were as follows:(in millions)June 30,2025December 31,2024Employee compensation and benefits$40.5 $57.4 Accrued taxes payable5.1 5.1 Refunds payable and reserves18.0 19.9 Accrued royalties5.7 6.5 Escrow Liability7.5 7.5 Other accrued liabilities23.8 22.6 Total accrued liabilities$100.6 $119.0 

7.DEBT

On June 30, 2023, the Company entered into an asset-based revolving credit facility (the “ABL Facility”) with an initial maximum principal amount of $90.0 million, with JPMorgan Chase Bank, N.A., as administrative agent and issuing bank, the other lender parties thereto, and certain of the Company's domestic subsidiaries (the "Guarantors"). On October 31, 2023, the Company entered into an amendment to the ABL Facility to increase the maximum principal amount of the available revolving line of credit by $25.0 million for a total maximum principal commitment of $115.0 million under the ABL Facility, which was effected through a new commitment provided by a new lender, Goldman Sachs Bank USA. The ABL Facility matures on June 30, 2026. The obligations of the Company