Company: MYGN
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000899923-25-000112
Chunk: 26

Company: MYRIAD GENETICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 estimated reporting unit fair values by reconciling the values to its enterprise value and market capitalization, including the consideration of a control premium. Accordingly, this fair value measurement is classified as Level 3 in the fair value hierarchy because it is based primarily upon unobservable inputs that reflect management's assumptions.As a result of the assessment, during the nine months ended September 30, 2025, the Company recognized a goodwill impairment charge of $234.7 million, with $91.2 million attributable to the Pharmacogenomics reporting unit and $143.5 million attributable to the Women’s Health reporting unit, reducing the carrying value of goodwill for these reporting units to their estimated fair values. The Company determined that the goodwill balance for the International reporting unit was not impaired. The goodwill impairment charges are reflected in Goodwill and long-lived asset impairment charges in the Condensed Consolidated Statements of Operations. The remaining goodwill value of $51.6 million consists of $29.8 million for the Pharmacogenomics reporting unit, $17.3 million for the International reporting unit and $4.5 million for the Women's Health reporting unit.      Management will continue to monitor for any additional indicators of impairment in future periods. Goodwill is tested for impairment at least annually and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired.Intangible AssetsThe following tables summarize the amounts reported as intangible assets:(in millions)GrossCarryingAmount(1)AccumulatedAmortizationNetAt September 30, 2025Developed technologies$480.2 $(347.7)$132.5 Internal-use software$21.9 $(3.1)$18.8 Trademarks$2.1 $(1.6)$0.5 Licensed technologies$5.3 $(0.4)$4.9 Internal-use software (in-process)$6.4 $— $6.4 Total intangible assets$515.9 $(352.8)$163.1 (1)Net of $82.0 million in impairment expense recognized in the three months ended June 30, 2025.  See the discussion below for further details regarding the impairment of intangible assets.  (in millions)GrossCarryingAmountAccumulatedAmortizationNetAt December 31, 2024Developed technologies$560.1 $(326.5)$233.6 Internal-use software1