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GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill for the six months ended June 30, 2024 are as follows:

(in millions)			Total
Beginning balance			$	287.4
Goodwill impairment			(0.8)
Translation adjustments			(0.3)
Ending balance			$	286.3

The Company recognized a goodwill impairment charge of $0.8 million during the six months ended June 30, 2024 related to the goodwill allocated to assets held for sale in the Myriad International reporting unit. The goodwill impairment charge is reflected in Goodwill and long-lived asset impairment charges in the Condensed Consolidated Statements of Operations. See Note 18 for further discussion.

Intangible Assets

Intangible assets consist of amortizable assets of developed technologies, customer relationships, and trademarks. The following summarizes the amounts reported as intangible assets:

(in millions)			Gross Carrying Amount						Accumulated Amortization						Net
At June 30, 2024
Developed technologies			$	624.1					$	(315.1)					$	309.0
Internal-use software			1.6						(0.4)						1.2
Internal-use software (in-process)			16.0						—						16.0
Customer relationships			1.6						(0.3)						1.3
Trademarks			6.1						(1.0)						5.1
Total intangible assets			649.4						$	(316.8)					332.6
Reclassification of assets held for sale			(21.6)						$	8.5					(13.1)
Total intangible assets			$	627.8					$	(308.3)					$	319.5

(in millions)			Gross Carrying Amount						Accumulated Amortization						Net
At December 31, 2023
Developed technologies			$	626.1					$	(295.3)					$	330.8
Internal-use software			0.8						(0.1)						0.7
Internal-use software (in-process)			11.2						—						11.2
Customer relationships			1.6						(0.2)						1.4
Trademarks			6.1						(0.7)						5.4
Total intangible assets			$	645.8					$	(296.3)					$	349.5

The Company recorded amortization expense during the respective periods for these intangible assets as follows:

			Three months ended June 30,															Six months ended June 30,
(in millions)			2024									2023						2024									2023
Amortization of intangible assets			$	10.6								$	10.6					$	21.4								$	21.3

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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