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Commitments and Contingencies | 12 Months Ended
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Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract] |
Commitments and Contingencies |
1 3. | COMMITMENTS AND CONTINGENCIES
In July 2019, the Company resolved the complaint filed by a qui tam relator in October 2017 in the United States District Court for the District of South Carolina. The complaint was the basis of the Office of Inspector General (OIG) subpoena dated February 2018 regarding Medicare billing practices relating to the Company’s hereditary cancer testing from 2014 to 2018. After a 17-month investigation, the Department of Justice declined to intervene in the case. The Company believes it demonstrated that the key allegations made in the complaint were false. In order to avoid a lengthy and distracting litigation with the qui tam relator, the company entered into a settlement agreement on July 18, 2019 under which the Company would pay $9.1 million to the qui tam relator in order to settle the matter. That agreement is currently pending an approval by the Office of Inspector General. The Company denies any wrongdoing and does not anticipate any material change in billing practices. In addition, the Company is subject to various claims and legal proceedings covering matters that arise in the ordinary course of its business activities. As of June 30, 2019, management of the Company believes any liability that may ultimately result from the resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, operating results, or cash flows. The Company leases office and laboratory space under six non-cancelable operating leases, with terms that expire between 2022 and 2027 in Salt Lake City, Utah, a non-cancelable operating lease for Myriad RBM for office and laboratory space that expires in 2020 in Austin, Texas, and a non-cancelable lease for office and laboratory space that expires in 2022 in Cologne, Germany. The Company also leases office and laboratory space under two non-cancellable operating leases that expire in 2025 in South San Francisco, California for Myriad Women’s Health and Crescendo. The Company also leases office and laboratory space under three non-cancelable leases that expire between 2019 and 2024 in Mason, Ohio and Toronto, Canada for Assurex. In addition, the Company maintains lease agreements that expire between 2019 and 2024 for administrative offices in Zurich, Switzerland; Paris, France; Milan, Italy; and London, UK . Furthermore, the Company leases information technology equipment under eight non-cancelable leases, with terms that expire in 2020 and 2021. Additionally, in December 2018 we entered into a lease agreement for a building yet to be constructed which shall contain approximately 125,000 square feet of additional office space upon completion at our corporate headquarters. Construction began in July 2019 and we anticipate completion of the building during fiscal 2021. The following is a summary of the Company’s rental expense for the fiscal years reported:
|  | Years Ended June 30, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Rental expense |  | $ | 19.7 |  |  | $ | 15.5 |  |  | $ | 15.2 |
Future minimum lease payments under the Company’s current leases as of June 30, 2019 are as follows:
Fiscal year ending: |  |  |  |
2020 |  | $ | 15.1 |
2021 |  |  | 14.1 |
2022 |  |  | 13.1 |
2023 |  |  | 12.2 |
2024 |  |  | 11.9 |
Thereafter |  |  | 19.1 |
|  | $ | 85.5 |

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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