Company: MYGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000899923-25-000019
Chunk: 167

Company: MYRIAD GENETICS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 167
---
 and its determination generally requires significant judgment.Years Ended December 31,202420232022Risk-free interest rate5.3%5.1%1.4%Expected dividend yield—%—%—%Expected life (in years)0.50.50.5Expected volatility50%56%53%

11.    INCOME TAXES

Income tax expense (benefit) consists of the following:Years Ended December 31,(in millions)202420232022Current:Federal$3.4 $3.4 $(0.5)State1.5 1.8 1.9 Foreign1.2 0.2 0.5 Total current6.1 5.4 1.9 Deferred:Federal(15.5)(51.8)(25.8)State(5.5)(5.2)(4.8)Foreign3.1 0.1 (2.9)Change in valuation allowance15.6 52.6 3.0 Total deferred(2.3)(4.3)(30.5)Total income tax expense (benefit)$3.8 $1.1 $(28.6)Loss before income taxes consists of the following:Years Ended December 31,(in millions)202420232022United States$(125.4)$(263.2)$(141.3)Foreign1.9 1.0 0.7 Total$(123.5)$(262.2)$(140.6)

98

Table of Contents

The differences between income taxes at the statutory federal income tax rate and income taxes reported in the Consolidated Statements of Operations were as follows:Years Ended December 31,(in millions)202420232022Federal income tax benefit at the statutory rate$(25.9)21.0 %$(54.9)21.0 %$(29.5)21.0 %State income taxes, net of federal benefit(2.4)1.9 %(4.1)1.6 %(3.3)2.3 %Research and development credits(0.4)0.3 %(1.6)0.6 %(3.5)2.5 %Uncertain tax positions2.8 (2.3)%3.7 (1.4)%0.6 (0.4)%Stock-based incentive awards0.8