Company: MYGN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000899923-25-000086
Chunk: 70

Company: MYRIAD GENETICS INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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 which the performance obligation was met in a prior period, including $3.0 million in revenue due to a retroactive coverage change by a payor for one of its prenatal products.

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.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 for substantially the full term of the assets or liabilities.  Some of the Company’s marketable securities primarily utilize broker quotes in a non-active market for valuation of these securities.Level 3—unobservable inputs.

The fair value of the Company’s long-term debt, which it considers a Level 2 measurement, is estimated using a discounted cash flow analysis based on the Company’s current estimated incremental borrowing rates for similar borrowing arrangements. The fair value of the Company’s current debt is estimated to be $59.7 million at June 30, 2025. 

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4.PROPERTY, PLANT, AND EQUIPMENT, NET

The property, plant, and equipment at June 30, 2025 and December 31, 2024 were as follows:(in millions)June 30,2025December 31,2024Leasehold improvements$79.2 $78.5 Equipment113.2 148.5 Property, plant, and equipment, gross192.4 227.0 Less accumulated depreciation(79.4)(109.6)Property, plant, and equipment, net$113.0 $117.4 The Company recorded depreciation during the respective periods as follows:Three months endedJune 30,Six months endedJune 30,(in millions)2025202420252024Depreciation expense$4.9 $4.6 $10.0 $9.7 

5.    GOODWILL AND INTANGIBLE ASSETS

GoodwillThe changes in the carrying amount of goodwill for the six months ended June 30, 2025