Company: MYGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000899923-25-000019
Chunk: 206

Company: MYRIAD GENETICS INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 206
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 available-for-sale securities by major security type and class of security at December 31, 2023 were as follows:(in millions)AmortizedcostGrossunrealizedholdinglossesEstimatedfair valueDecember 31, 2023:Cash and cash equivalents:Cash$129.9 $— $129.9 Cash equivalents2.2 — 2.2 Total cash and cash equivalents132.1 — 132.1 Available-for-sale:Corporate bonds and notes8.4 (0.1)8.3 Municipal bonds0.5 — 0.5 Total$141.0 $(0.1)$140.9 During the years ended December 31, 2023 and 2022, the Company sold $90.4 million and $28.4 million of investments, respectively. The cost of the available for sale security sold was determined using the specific-identification method. The amount of gross realized gains and realized losses upon sales of investments was insignificant for the year ended December 31, 2024 and December 31, 2022. The amount of realized losses upon sales of investments was $1.5 million for the year ended December 31, 2023. As of December 31, 2023, the Company had seven available-for-sale debt securities in a gross unrealized loss position of $0.1 million, with a fair market value of $8.8 million. As of December 31, 2023, the expected losses were determined to be immaterial and as such, the Company did not record an allowance for credit losses. Additional information relating to fair value of marketable investment securities can be found in Note 3.

3.    FAIR VALUE MEASUREMENTS

The fair value of the Company’s financial instruments reflects the amounts that the Company estimates it will receive in connection with the sale of an asset or pay in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The fair value hierarchy prioritizes the use of inputs used in valuation techniques into the following three levels:Level 1—quoted prices in active markets for identical assets and liabilities.

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Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data