Company: MYGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000899923-25-000019
Chunk: 209

Company: MYRIAD GENETICS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 209
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 result, the Company performed an quantitative impairment test for the goodwill for the Pharmacogenomics reporting unit during the fourth quarter of 2024. The Company also elected to perform a quantitative impairment review of goodwill for its Women's Health and International reporting units. The Company estimated the fair values of each reporting unit using both the market approach, applying an observable multiple of revenue based on guideline public companies, and the income approach, discounting future cash flows based on management's expectations of the current and future operating environments for each reporting unit. The Company corroborated the reasonableness of the estimated reporting unit fair values by reconciling the values to its enterprise value and market capitalization. The goodwill balance at each reporting unit was determined to not be impaired as of December 31, 2024.

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During the second quarter of 2024, as a result of the disposition of the EndoPredict business, the Company recognized a goodwill impairment charge of $0.8 million for the goodwill allocated to the EndoPredict business within the Company's International reporting unit. The goodwill impairment charge is reflected in Goodwill and long-lived asset impairment charges in the Consolidated Statements of Operations. See Note 17 for further discussion.The Company did not record an impairment of goodwill for the years ended December 31, 2023 and 2022.Intangible AssetsThe following tables summarize the amounts reported as intangible assets:(in millions)GrossCarryingAmountAccumulatedAmortizationNetWeighted-Average Useful Life (in Years)Weighted-Average Remaining Useful Life (in Years)At December 31, 2024Developed technologies$560.1 $(326.5)$233.6 10.63.6Internal-use software1.8 (0.7)1.1 3.01.9Customer relationships1.6 (0.3)1.3 10.07.8Trademarks6.1 (1.3)4.8 10.07.8Internal-use software (in-process)21.6 — 21.6 Total intangible assets$591.2 $(328.8)$262.4 (in millions)GrossCarryingAmountAccumulatedAmortizationNetWeighted-Average Useful Life (in Years)Weighted-Average Remaining Useful Life (in Years)At December 31, 2023Developed technologies$626.1 $(295.3)$330.8 14.48