XML 49 R35.htm IDEA: XBRL DOCUMENT v3.5.0.2

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

Income tax expense consists of the following:

		Year ended June 30,
		2016				2015				2014
Current:
Federal		$	22.2			$	53.7			$	97.4
State			3.5				4.7				3.5
Total Current			25.7				58.4				100.9
Deferred:
Federal			15.4				(2.1	)			(0.7	)
State			(3.2	)			8.7				0.8
Foreign			3.5				(2.3	)			(2.9	)
Change in valuation allowance			2.2				(8.0	)			3.5
Total Deferred			17.9				(3.7	)			0.7
Total income tax expense		$	43.6			$	54.7			$	101.6

Schedule of Income (Loss) Before Income Taxes

Income (loss) before income taxes consists of the following:

		Year ended June 30,
		2016				2015				2014
United States		$	169.5			$	147.0			$	292.0
Foreign			(0.6	)			(12.1	)			(14.2	)
Total		$	168.9			$	134.9			$	277.8

Schedule of Differences Between Statutory Federal Income Tax Rate and Income Taxes Reported in Consolidated Statements of Operations

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:

		Year ended June 30,
		2016				2015				2014
Federal income tax expense at the statutory rate			35.0	%			35.0	%			35.0	%
State income taxes, net of federal benefit			2.0				1.7				1.6
Research and development credits, net of the federal tax on state credits			(1.3	)			(2.5	)			(0.2	)
Uncertain tax positions, net of federal benefit			0.6				1.2				(0.1	)
Uncertain tax benefits statute expired, net of federal benefit			(4.4	)			0.0				0.0
Incentive stock option and employee stock purchase plan expense			(0.3	)			0.2				(0.3	)
Adjustment to deferred tax liability attributable to acquired intangible assets			0.0				1.6				0.0
Foreign rate differential			0.0				1.6				0.8
Change in valuation allowance			1.2				2.6				1.2
Basis difference, disposition of foreign subsidiary			0.0				0.0				(1.9	)
California basis step-up election, net of related valuation allowance impact			0.0				(1.2	)			0.0
Early adoption of ASU 2016-09			(7.5	)			0.0				0.0
Other, net			0.5				0.4				0.5
			25.8	%			40.6	%			36.6

Schedule of Components of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities were comprised of the following at June 30, 2016 and 2015:

		Year ended June 30,
		2016				2015
Deferred tax assets:
Net operating loss carryforwards		$	54.4			$	61.1
Property, plant and equipment			1.8				2.9
Accrued vacation			2.0				1.7
Allowance for doubtful accounts			2.4				2.7
Stock compensation expense			27.0				36.8
Research and development credits			9.4				8.9
Uncertain state tax positions			1.1				1.1
Other, net			0.7				0.9
Total gross deferred tax assets			98.8				116.1
Less valuation allowance			(35.6	)			(33.4	)
Total deferred tax assets			63.2				82.7
Deferred tax liabilities:
Intangible assets			81.1				69.4
Total deferred tax liabilities			81.1				69.4
Net deferred tax assets (liability)			(17.9	)			13.3
Current net deferred tax asset			0.0				13.5
Long term net deferred tax asset (liability)			(17.9	)			(0.2	)
Net deferred tax asset (liability)		$	(17.9	)		$	13.3

Summary of Net Operating Loss and Research Credit Carryforwards

At June 30, 2016, the Company had the following net operating loss and research credit carryforwards, with their respective expiration periods. Certain carryforwards are subject to the limitations of Section 382 and 383 of the Internal Revenue Code as indicated.

Carryforwards		Amount				Subject to sections 382, 383		Expires beginning in year		Through
Federal net operating loss		$	112.3			Yes		2027		2033
Utah net operating loss			209.5			No		2016		2024
Oklahoma net operating loss			14.1			Yes		2023		2033
Foreign net operating losses (various jurisdictions)			30.1			No		Various		Various
Federal research credit			3.2			Yes		2025		2032
Utah research credit			9.5			No		2021		2029

Schedule of Reconciliation of Beginning and Ending Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

		Year ended June 30,
		2016				2015				2014
Unrecognized tax benefits at the beginning of year		$	26.3			$	24.2			$	10.9
Gross increases—current year tax positions			0.6				1.1				1.8
Gross increases—prior year tax positions			5.4				1.0				0.3
Gross increases—acquisitions			—				—				14.2
Gross decreases—prior year tax positions			(8.1	)			—				(3.0	)
Unrecognized tax benefits at end of year		$	24.2			$	26.3			$	24.2
Interest and penalties in year-end balance		$	0.5			$	0.6			$	0.3

X

- Definition

Schedule Of Reconciliation Of Beginning And Ending Unrecognized Tax Benefits

+ References

No definition available.

+ Details

Name:	mygn_ScheduleOfReconciliationOfBeginningAndEndingUnrecognizedTaxBenefitsTableTextBlock
Namespace Prefix:	mygn_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319

+ Details

Name:	us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration