XML 51 R38.htm IDEA: XBRL DOCUMENT v3.20.2

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of Income Tax Benefit

Income tax benefit consists of the following:

		Year ended June 30,
		2020				2019				2018
Current:
Federal		$	26.6			$	(24.2	)		$	7.7
State			4.9				(0.1	)			2.2
Foreign			0.5				0.2				—
Total current			32.0				(24.1	)			9.9
Deferred:
Federal			(51.5	)			17.8				(22.7	)
State			(4.1	)			1.7				0.7
Foreign			(3.6	)			0.4				(1.4	)
Change in valuation allowance			3.5				(0.2	)			0.5
Total deferred			(55.7	)			19.7				(22.9	)
Total income tax benefit		$	(23.7	)		$	(4.4	)		$	(13.0	)

Schedule of Income (Loss) Before Income Taxes

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

		Year ended June 30,
		2020				2019				2018
United States		$	(240.9	)		$	(0.6	)		$	122.3
Foreign			17.6				0.6				(2.2	)
Total		$	(223.3	)		$	—			$	120.1

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,
		2020							2019							2018
Federal income tax expense at the statutory    rate			(46.9	)		21.0	%			—			21.0	%			33.7			28.1	%
State income taxes, net of federal benefit			(0.2	)		0.1	%			2.0			6422.1	%			2.9			2.4	%
Research and development credits, net of    the federal tax on state credits			(2.8	)		1.3	%			(3.7	)		-11880.9	%			(2.1	)		-1.7	%
Uncertain tax positions, net of federal benefit			1.9			-0.9	%			2.9			9312.1	%			2.5			2.1	%
Uncertain tax benefits statute expired, net    of federal benefit			(0.4	)		0.2	%			(7.1	)		-22798.5	%			—			0.0	%
Incentive stock option and employee stock    purchase plan expense			(0.2	)		0.1	%			(3.1	)		-9954.3	%			(1.7	)		-1.4	%
Foreign rate differential			0.7			-0.3	%			0.8			2568.8	%			(0.8	)		-0.7	%
Change in valuation allowance			3.5			-1.7	%			(0.2	)		-642.2	%			0.6			0.5	%
Tax Cut and Jobs Act impact			—			0.0	%			—			0.0	%			(32.0	)		-26.6	%
Fair value adjustments related to acquisition    contingent consideration			—			0.0	%			0.8			2568.8	%			(17.0	)		-14.2	%
Non-deductible contingent purchase price and transaction costs			(0.3	)		0.1	%			—			0.0	%			—			0.0	%
Non-deductible meals and entertainment			1.8			-0.8	%			1.3			4174.4	%			0.4			0.3	%
Non-deductible officer compensation			1.6			-0.7	%			0.6			1926.6	%			—			0.0	%
Asset impairment			12.6			-5.6	%			—			0.0	%			—			0.0	%
Expired tax attributes			4.2			-1.9	%			—			0.0	%			—			0.0	%
Non-deductible legal settlement			—			0.0	%			1.9			6101.0	%			—			0.0	%
Foreign disregarded election			—			0.0	%			6.4			20550.8	%			—			0.0	%
Changes in revenue recognition/method			—			0.0	%			(7.3	)		-23440.8	%			—			0.0	%
Other, net			0.8			-0.3	%			0.3			963.4	%			0.5			0.5	%
			(23.7	)		10.6	%			(4.4	)		-14107.7	%			(13.0	)		-10.7	%

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:

		Year ended June 30,
		2020				2019
Deferred tax assets:
Net operating loss carryforwards		$	73.1			$	85.7
Property, plant and equipment			37.2				—
Accrued vacation			1.5				1.2
AR allowance			1.2				3.3
Stock compensation expense			13.8				16.0
Research and development credits			27.6				25.4
Lease right-of-use asset			16.3				—
Uncertain state tax positions			1.6				1.3
Other, net			9.6				9.0
Total gross deferred tax assets			181.9				141.9
Less valuation allowance			(42.4	)			(38.9	)
Total deferred tax assets			139.5				103.0
Deferred tax liabilities:
Intangible assets			150.3				175.4
Lease liability			15.8				—
Property, plant and equipment			—				2.5
Deferred revenue			—				7.7
Total deferred tax liabilities			166.1				185.6
Net deferred tax liability		$	(26.6	)		$	(82.6	)

Summary of Net Operating Loss and Research Credit Carryforwards (Tax Effected)

At June 30, 2020, the Company had the following net operating loss and research credit carryforwards (tax effected), with their respective expiration periods. Certain carryforwards are subject to the limitations of Section 382 and 383 of the Internal Revenue Code as indicated.

						Subject to		Expires
Carryforwards		Amount				sections 382, 383		beginning in year				Through
Federal net operating loss		$	52.5			Yes			2031				2038
Utah net operating loss			2.7			No			2021				2033
California net operating loss			3.5			No			2027				2040
Other state net operating loss			6.9			Yes			2027				2040
Foreign net operating losses (various jurisdictions)			7.6			No		Various				Various
Federal research credit			11.2			Yes		2027					2040
Utah research credit			11.6			No		2030					2034
California research credit			4.7			No		2027					2040
Texas research credit			0.1			No			2039				2040

Schedule of Reconciliation of Beginning and Ending Unrecognized Tax Benefits

		Year ended June 30,
		2020				2019				2018
Unrecognized tax benefits at the beginning of year		$	21.7			$	24.9			$	25.2
Gross increases - current year tax positions			1.6				2.2				0.6
Gross increases - prior year tax positions			0.7				0.5				2.4
Gross increases - acquisitions			—				2.3				—
Gross decreases - prior year tax positions			—				(0.1	)			(3.3	)
Gross decreases - settlements			—				(2.7	)			—
Gross decreases - statute lapse			(0.5	)			(5.4	)			—
Unrecognized tax benefits at end of year		$	23.5			$	21.7			$	24.9
Interest and penalties in year-end balance		$	1.4			$	0.8			$	1.5

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef
-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=120395691&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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32559-109319

+ Details

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