Myriad Genetics (MYGN) 10-Q 5 May 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	Apr. 28, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	0-26642
Entity Registrant Name	MYRIAD GENETICS, INC.
Entity Central Index Key	0000899923
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0494517
Entity Address, Address Line One	320 Wakara Way
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84108
City Area Code	801
Local Phone Number	584-3600
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	MYGN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		77,051,966

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 148.9	$ 117
Marketable investment securities	27.2	33.7
Prepaid expenses	13.9	11.7
Inventory	24.6	27.1
Trade accounts receivable	94.1	89.5
Prepaid taxes	18.1	108.4
Other receivables	2.4	2
Total current assets	329.2	389.4
Property, plant and equipment, net	45.1	40.7
Operating lease right-of-use assets	58.9	59.7
Long-term marketable investment securities	11.9	21
Intangibles, net	559.9	576.5
Goodwill	328.3	329.2
Other assets	3.6	2.3
Total assets	1,336.9	1,418.8
Current liabilities:
Accounts payable	20.8	20.5
Accrued liabilities	83.1	79.1
Current maturities of operating lease liabilities	14	13.6
Deferred revenue	31.1	32.7
Total current liabilities	149	145.9
Unrecognized tax benefits	30.8	30.5
Long-term deferred taxes	59.2	71.3
Long-term debt	154	224.8
Noncurrent operating lease liabilities	49.4	50.6
Other long-term liabilities	19.3	14.7
Total liabilities	461.7	537.8
Commitments and contingencies
Stockholders’ equity:
Common stock, 76.7 and 75.4 shares outstanding at March 31, 2021 and December 31, 2020, respectively	0.8	0.8
Additional paid-in capital	1,144.5	1,109.5
Accumulated other comprehensive loss	(3.6)	(2.3)
Accumulated deficit	(266.5)	(227)
Total Myriad Genetics, Inc. stockholders’ equity	875.2	881
Non-controlling interest	0	0
Total stockholders' equity	875.2	881
Total liabilities and stockholders’ equity	$ 1,336.9	$ 1,418.8

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares shares in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, shares outstanding	76.7	75.4	74.5	74.5

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Total revenue	$ 173.1	$ 164
Costs and expenses:
Research and development expense	23.1	19.7
Change in the fair value of contingent consideration	0.9	(3.4)
Selling, general, and administrative expense	145.5	132.9
Goodwill and intangible asset impairment charges	0	98.4
Total costs and expenses	219.8	297.7
Operating loss	(46.7)	(133.7)
Other income (expense):
Interest income	0.2	0.8
Interest expense	(3)	(2.3)
Other	(0.1)	4.1
Total other income (expense), net	(2.9)	2.6
Loss before income tax	(49.6)	(131.1)
Income tax benefit	(10.1)	(15.9)
Net loss	(39.5)	(115.2)
Net loss attributable to non-controlling interest	0	0
Net loss attributable to Myriad Genetics, Inc. stockholders	$ (39.5)	$ (115.2)
Net loss per share:
Basic (in dollars per share)	$ (0.52)	$ (1.55)
Diluted (in dollars per share)	$ (0.52)	$ (1.55)
Weighted average shares outstanding:
Basic (shares)	76	74.5
Diluted (shares)	76	74.5
Molecular diagnostic testing
Total revenue	$ 159.6	$ 150.5
Costs and expenses:
Costs and expenses	44.1	43.1
Pharmaceutical and clinical services
Total revenue	13.5	13.5
Costs and expenses:
Costs and expenses	$ 6.2	$ 7

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss attributable to Myriad Genetics, Inc. stockholders	$ (39.5)	$ (115.2)
Unrealized loss on available-for-sale debt securities, net of tax	(0.2)	(0.1)
Change in foreign currency translation adjustment, net of tax	(1.1)	(2.5)
Comprehensive loss	(40.8)	(117.8)
Comprehensive loss attributable to non-controlling interest	0	0
Comprehensive loss attributable to Myriad Genetics, Inc. stockholders	$ (40.8)	$ (117.8)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive loss	Retained earnings (accumulated deficit)	Non-Controlling Interest
Beginning balance at Dec. 31, 2019	$ 1,077.3	$ 0.7	$ 1,085.1	$ (5.3)	$ (3.3)	$ 0.1
Issuance of common stock under share-based compensation plans, net of shares exchanged for withholding tax	0.2		0.2
Share-based payment expense	7.5		7.5
Non-controlling interest	(0.1)					(0.1)
Net loss	(115.2)				(115.2)
Reclassification out of accumulated other comprehensive loss upon the deconsolidation of a subsidiary	0.1			0.1
Other comprehensive loss, net of tax	(2.6)			(2.6)
Ending balance at Mar. 31, 2020	967.2	0.7	1,092.8	(7.8)	(118.5)	0
Beginning balance at Dec. 31, 2020	881	0.8	1,109.5	(2.3)	(227)	0
Issuance of common stock under share-based compensation plans, net of shares exchanged for withholding tax	26	0	26
Share-based payment expense	9		9
Net loss	(39.5)				(39.5)
Other comprehensive loss, net of tax	(1.3)			(1.3)
Ending balance at Mar. 31, 2021	$ 875.2	$ 0.8	$ 1,144.5	$ (3.6)	$ (266.5)	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss attributable to Myriad Genetics, Inc. stockholders	$ (39.5)	$ (115.2)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	18.4	17.9
Non-cash interest expense	0.5	0.1
Non-cash lease expense	3.5	3
Gain on deconsolidation of subsidiary	0	(1)
Gain on disposition of assets	(0.3)	(0.1)
Share-based compensation expense	9	7.5
Deferred income taxes	(11.8)	(16)
Unrecognized tax benefits	0.3	(0.1)
Impairment of goodwill and intangible assets	0	98.4
Change in fair value of contingent consideration	0.9	(3.4)
Changes in assets and liabilities:
Prepaid expenses	(2.1)	3.6
Trade accounts receivable	(4.7)	15.9
Other receivables	(0.4)	1.2
Inventory	2.4	(2.6)
Prepaid taxes	90.3	(0.7)
Other assets	(1.2)	0
Accounts payable	0.3	9.2
Accrued liabilities	7.8	(1.1)
Deferred revenue	(1.6)	0.2
Net cash provided by operating activities	71.8	16.8
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(7.1)	(3)
Proceeds from sale of subsidiary	0	21.3
Purchases of marketable investment securities	0	(15.8)
Proceeds from maturities and sales of marketable investment securities	15.3	20.7
Net cash provided by investing activities	8.2	23.2
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from common stock issued under share-based compensation plans	26.5	0.3
Payment of tax withheld for common stock issued under share-based compensation plans	(0.5)	(0.1)
Payment of contingent consideration recognized at acquisition	(3.3)	0
Fees associated with refinancing of revolving credit facility	1.2	0
Repayment of revolving credit facility	(70)	0
Net cash provided by (used in) financing activities	(48.5)	0.2
Effect of foreign exchange rates on cash and cash equivalents	0.4	(1.9)
Change in cash and cash equivalents classified as held for sale	0	1.5
Net increase in cash and cash equivalents	31.9	39.8
Cash and cash equivalents at beginning of the period	117	81.2
Cash and cash equivalents at end of the period	$ 148.9	$ 121

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION Myriad Genetics, Inc. and subsidiaries (collectively, the “Company” or “Myriad”) is a leading personalized precision medicine company acting as a trusted advisor to transform patient lives through molecular diagnostics. The Company employs a number of proprietary technologies, including DNA, RNA and protein analysis, that help it to understand the genetic basis of human disease and the role that genes and their related proteins may play in the onset and progression of disease. The Company uses this information to guide the development of molecular diagnostic and companion diagnostic tests that are designed to assess an individual’s risk for developing disease later in life (predictive medicine), identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to ensure optimal treatment (personalized medicine), or assess a patient’s risk of disease progression and disease recurrence (prognostic medicine). The Company generates revenue by performing molecular diagnostic tests as well as by providing pharmaceutical and clinical services to the pharmaceutical and biotechnology industries and medical research institutions utilizing its multiplexed immunoassay technology. The Company’s corporate headquarters are located in Salt Lake City, Utah. The accompanying condensed consolidated financial statements for the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with GAAP. The condensed consolidated financial statements herein should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Transition Report on Form 10-K for the transition period ended December 31, 2020. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Operating results for the three months ended March 31, 2021 may not necessarily be indicative of results to be expected for any other interim period or for the full year. The Company has historically experienced seasonality in its testing business. The quarter ending March 31 is typically negatively impacted by the annual reset of patient deductibles. Additionally, the volume of testing is negatively impacted by the summer season, which is generally reflected in the quarter ending June 30. The quarter ending December 31 is generally strong as the Company sees an increase in volumes from patients who have met their annual insurance deductible. Due to the COVID-19 global pandemic (“COVID-19”), seasonality may not follow the same pattern as in prior years. Volumes and results of operations were impacted negatively in calendar year 2020 by COVID-19. As such, the Company’s year over year results may not be comparable. Management continues to monitor the impacts of COVID-19 on the Company’s financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evaluation of COVID-19 and the global responses to curb its spread, the Company is not able to estimate the effects of the COVID-19 on results of operations, financial condition, or liquidity for future periods. Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassifications have no impact on the total assets, total liabilities, stockholders’ equity, cash flows from operations, or net loss for the period. Recent Accounting Pronouncements Recently Adopted Standards In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASC 2019-12 is a new accounting standard to simplify accounting for income taxes and remove, modify, and add to the disclosure requirements of income taxes. The standard is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. This guidance was adopted with no material impact to the Company's Condensed Consolidated Financial Statements.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Myriad generates revenue by performing molecular diagnostic testing and pharmaceutical services. The Company previously provided clinical services until selling Privatklinik Dr. Robert Schindlbeck GmbH & Co. KG (the “Clinic”) in February 2020. Revenue from the sale of molecular diagnostic tests and pharmaceutical and clinical services is recorded at the estimated amount of consideration to be received. The Company has determined that the communication of test results or the completion of clinical and pharmaceutical services indicates transfer of control for revenue recognition purposes. The following table presents detail regarding the composition of the Company’s total revenue by product and by U.S. versus rest of world (“RoW”): Three Months Ended March 31, 2021 2020 (in millions) U.S. RoW Total U.S. RoW Total Molecular diagnostic revenues: Hereditary Cancer Testing $ 65.1 $ 11.0 $ 76.1 $ 81.3 $ 3.9 $ 85.2 Prenatal 23.6 0.1 23.7 20.2 0.1 20.3 GeneSight 17.6 — 17.6 20.4 — 20.4 Vectra 10.7 — 10.7 10.5 — 10.5 myChoice CDx 4.8 3.6 8.4 3.2 0.1 3.3 Prolaris 18.5 — 18.5 6.8 — 6.8 EndoPredict 0.9 3.2 4.1 0.6 2.9 3.5 Other — 0.5 0.5 0.4 0.1 0.5 Total molecular diagnostic revenue 141.2 18.4 159.6 143.4 7.1 150.5 Pharmaceutical and clinical service revenue 13.5 — 13.5 9.6 3.9 13.5 Total revenue $ 154.7 $ 18.4 $ 173.1 $ 153.0 $ 11.0 $ 164.0 The Company performs its obligation under a contract with a customer by processing diagnostic tests and communicating the test results to customers, in exchange for consideration from the customer. The Company has the right to bill its customers upon the completion of performance obligations and thus does not record contract assets. Occasionally, customers make payments prior to the Company’s performance of its contractual obligations. When this occurs, the Company records a contract liability as deferred revenue. During the fiscal year ended June 30, 2020, the Company received approximately $29.7 million in advance Medicare payments to provide relief from the economic impacts of COVID-19 on the Company. Repayment of the advanced Medicare payments began in April 2021. A reconciliation of the beginning and ending balances of deferred revenue is shown in the table below: Three Months Ended (in millions) 2021 2020 Deferred revenue - beginning balance $ 32.7 $ 3.6 Revenue recognized (6.7) (1.3) Prepayments 5.1 1.5 Deferred revenue - ending balance $ 31.1 $ 3.8 In accordance with ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”), the Company has elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its contracts that are one year or less, as the revenue is expected to be recognized within the next year. Furthermore, the Company has elected not to disclose the aggregate amount of the transaction price allocated to remaining performance obligations for its agreements wherein the Company’s right to payment is in an amount that directly corresponds with the value of Company’s performance to date. However, the Company periodically enters into arrangements with customers to provide diagnostic testing and/or pharmaceutical services that may have terms longer than one year and include multiple performance obligations. As of March 31, 2021, the aggregate amount of the transaction price of such contracts that is allocated to the remaining performance obligations is $11.2 million. In determining the transaction price, Myriad includes an estimate of the expected amount of consideration as revenue. The Company applies this method consistently for similar contracts when estimating the effect of any uncertainty on an amount of variable consideration to which it will be entitled. An estimate of transaction price does not include any estimated amount of variable consideration that is constrained. In addition, the Company considers all the information (historical, current, and forecast) that is reasonably available to identify possible consideration amounts. The Company considers the probability of the variable consideration for each possible scenario. The Company also has significant experience with historical discount patterns and uses this experience to estimate transaction prices. The estimate of revenue is affected by assumptions in payor behavior such as changes in payor mix, payor collections, current customer contractual requirements, and experience with collections from third-party payors. When assessing the total consideration for insurance carriers and patients, revenues are further constrained for estimated refunds. The Company reserves certain amounts in Accrued liabilities in the Company’s Condensed Consolidated Balance Sheets in anticipation of requests for refunds of payments made previously by insurance carriers, which are accounted for as reductions in revenues in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Cash collections for certain diagnostic tests delivered may differ from rates originally estimated, primarily driven by changes in the estimated transaction price due to contractual adjustments, obtaining updated information from payors and patients that was unknown at the time the performance obligation was met and settlements with third party payors. During the three months ended March 31, 2021, the Company recognized $5.3 million in revenue, which resulted in a $0.07 impact to earnings per share, for tests in which the performance obligation of delivering the tests results was met in prior periods. The changes were primarily driven by changes in the estimated transaction price. Additionally, the Company recognized $6.8 million of revenue due to expanded coverage for Prolaris, for which revenue was fully constrained in a prior period. The Company applies the practical expedient related to costs to obtain or fulfill a contract since the amortization period for such costs will be one year or less. Accordingly, no costs incurred to obtain or fulfill a contract have been capitalized. The Company also applies the practical expedient for not adjusting revenue recognized for the effects of the time value of money. This practical expedient has been elected because the Company collects very little cash from customers under payment terms and the vast majority of payment terms have a payback period of less than one year. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Substantially all of the Company’s accounts receivable are with companies in the healthcare industry, U.S. and state governmental agencies that make payments on the customer's behalf, and individuals. The Company does not believe that receivables due from U.S. and state governmental agencies, such as Medicare, represent a credit risk since the related healthcare programs are funded by the U.S. and state governments. The Company only has one payor, Medicare, that represents greater than 10% of its revenues. Revenues received from Medicare represented approximately 19% and 16% of total revenue for the three months ended March 31, 2021 and 2020, respectively. Concentrations of credit risk are mitigated due to the number of the Company’s customers as well as their dispersion across many geographic regions. No payor accounted for more than 10% of accounts receivable at March 31, 2021 or December 31, 2020. The Company does not require collateral from its customers.

Marketable Investment Securitie

Marketable Investment Securities	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Marketable Investment Securities	MARKETABLE INVESTMENT SECURITIES The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at March 31, 2021 and December 31, 2020 were as follows: (in millions) Amortized Gross Gross Estimated March 31, 2021: Cash and cash equivalents: Cash $ 65.9 $ — $ — $ 65.9 Cash equivalents 83.0 — — 83.0 Total cash and cash equivalents 148.9 — — 148.9 Available-for-sale: Corporate bonds and notes 22.7 0.4 — 23.1 Municipal bonds 8.2 0.1 — 8.3 Federal agency issues 4.0 — — 4.0 US government securities 3.7 — — 3.7 Total $ 187.5 $ 0.5 $ — $ 188.0 (in millions) Amortized Gross Gross Estimated December 31, 2020: Cash and cash equivalents: Cash $ 47.9 $ — $ — $ 47.9 Cash equivalents 69.1 — — 69.1 Total cash and cash equivalents 117.0 — — 117.0 Available-for-sale: Corporate bonds and notes 28.8 0.5 — 29.3 Municipal bonds 9.4 0.2 — 9.6 Federal agency issues 4.0 — — 4.0 US government securities 11.7 0.1 — 11.8 Total $ 170.9 $ 0.8 $ — $ 171.7 Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities were as follows at March 31, 2021: (in millions) Amortized Estimated Cash $ 65.9 $ 65.9 Cash equivalents 83.0 83.0 Available-for-sale: Due within one year 26.9 27.2 Due after one year through five years 11.7 11.9 Due after five years — — Total $ 187.5 $ 188.0 There were no debt securities classified as available-for-sale in a gross unrealized loss position as of March 31, 2021 or December 31, 2020. Additional information relating to fair value of marketable investment securities can be found in Note 4.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The fair value of the Company’s financial instruments reflects the amounts that the Company estimates it will receive in connection with the sale of an asset or pay in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The fair value hierarchy prioritizes the use of inputs used in valuation techniques into the following three levels: Level 1—quoted prices in active markets for identical assets and liabilities. Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Some of the Company’s marketable securities primarily utilize broker quotes in a non-active market for valuation of these securities. Level 3—unobservable inputs. All of the Company’s financial instruments are valued using quoted prices in active markets or based on other observable inputs. For Level 2 securities, the Company uses a third party pricing service which provides documentation on an ongoing basis that includes, among other things, pricing information with respect to reference data, methodology, inputs summarized by asset class, pricing application and corroborative information. For Level 3 contingent consideration, the Company reassesses the fair value of expected contingent consideration and the corresponding liability each reporting period using the Monte Carlo Method, which is consistent with the initial measurement of the expected earn out liability. This fair value measurement is considered a Level 3 measurement because the Company estimates projections during the expected measurement period of approximately 14.3 years, utilizing various potential pay-out scenarios. Probabilities were applied to each potential scenario and the resulting values were discounted using a rate that considers weighted average cost of capital as well as a specific risk premium associated with the riskiness of the earn-out itself, the related projections, and the overall business. The contingent earn-out liabilities are classified as a component of Other long-term liabilities in the Company’s Condensed Consolidated Balance Sheets. Changes to contingent consideration liabilities are reflected in Change in the fair value of contingent consideration in the Company’s Condensed Consolidated Statements of Operations. Changes to the unobservable inputs could have a material impact on the Company’s financial statements. The fair value of the Company’s long-term debt, which it considers a Level 3 measurement, is estimated using discounted cash flow analyses, based on the Company’s current estimated incremental borrowing rates for similar borrowing arrangements. The fair value of the Company’s long-term debt is estimated to be $153.6 million at March 31, 2021. The following table sets forth the fair value of the financial assets and liabilities that the Company re-measures on a regular basis: (in millions) Level 1 Level 2 Level 3 Total March 31, 2021 Money market funds (a) $ 83.0 $ — $ — $ 83.0 Corporate bonds and notes — 23.1 — 23.1 Municipal bonds — 8.3 — 8.3 Federal agency issues — 4.0 — 4.0 US government securities — 3.7 — 3.7 Contingent consideration — — (8.0) (8.0) Total $ 83.0 $ 39.1 $ (8.0) $ 114.1 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest. (in millions) Level 1 Level 2 Level 3 Total December 31, 2020 Money market funds (a) $ 69.1 $ — $ — $ 69.1 Corporate bonds and notes — 29.3 — 29.3 Municipal bonds — 9.6 — 9.6 Federal agency issues — 4.0 — 4.0 US government securities — 11.8 — 11.8 Contingent consideration — — (10.9) (10.9) Total $ 69.1 $ 54.7 $ (10.9) $ 112.9 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest. The following table reconciles the change in the fair value of the contingent consideration during the periods presented: (in millions) Carrying Balance December 31, 2020 $ 10.9 Payment of contingent consideration (3.3) Change in fair value recognized in the income statement 0.9 Translation adjustments recognized in other comprehensive loss (0.5) Ending balance March 31, 2021 $ 8.0

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	PROPERTY, PLANT AND EQUIPMENT, NET (in millions) March 31, December 31, Leasehold improvements $ 36.8 $ 35.7 Equipment 119.0 117.9 Property, plant and equipment, gross 155.8 153.6 Less accumulated depreciation (110.7) (112.9) Property, plant and equipment, net $ 45.1 $ 40.7 Three Months Ended (in millions) 2021 2020 Depreciation expense $ 2.9 $ 2.6

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill The following table summarizes the changes in the carrying amount of goodwill for the three months ended March 31, 2021: (in millions) Diagnostic Other Total Beginning balance $ 272.3 $ 56.9 $ 329.2 Translation adjustments (0.9) — (0.9) Ending balance $ 271.4 $ 56.9 $ 328.3 Intangible Assets Intangible assets primarily consist of amortizable assets of purchased licenses and technologies, customer relationships, and trade names as well as non-amortizable intangible assets of in-process technologies and research and development. The following summarizes the amounts reported as intangible assets: (in millions) Gross Accumulated Net At March 31, 2021: Purchased licenses and technologies $ 816.6 $ (263.1) $ 553.5 Customer relationships 4.7 (4.6) 0.1 Trademarks 3.0 (1.5) 1.5 Total amortized intangible assets 824.3 (269.2) 555.1 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 829.1 $ (269.2) $ 559.9 (in millions) Gross Accumulated Net At December 31, 2020: Purchased licenses and technologies $ 818.2 $ (248.2) $ 570.0 Customer relationships 4.7 (4.5) 0.2 Trademarks 3.0 (1.5) 1.5 Total amortized intangible assets 825.9 (254.2) 571.7 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 830.7 $ (254.2) $ 576.5 The Company recorded amortization expense during the respective periods for these intangible assets as follows: Three Months Ended (in millions) 2021 2020 Amortization of intangible assets $ 15.5 $ 15.3

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2021
Payables and Accruals [Abstract]
Accrued Liabilities	ACCRUED LIABILITIES (in millions) March 31, December 31, Employee compensation and benefits $ 41.2 $ 43.7 Accrued taxes payable 5.4 4.3 Recoupments payable and reserves 6.9 9.3 Short-term contingent consideration — 3.4 Other 29.6 18.4 Total accrued liabilities $ 83.1 $ 79.1

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	LONG-TERM DEBT On December 23, 2016, the Company entered into a senior secured revolving credit facility (the “Facility”) by and among Myriad, as borrower, and the lenders from time to time party thereto. On July 31, 2018, the Company entered into Amendment No. 1 which effected an “amend and extend” transaction with respect to the Facility by which the maturity date thereof was extended to July 31, 2023 and the maximum aggregate principal commitment was increased from $300.0 million to $350.0 million. On May 1, 2020, the Company entered into Amendment No. 2, which waived the Company’s compliance with certain financial covenants, amended compliance with certain operating covenants, and modified the interest rate and other terms during a modification period from March 31, 2020 through June 30, 2021 (the “Modification Period”). On February 22, 2021, the Company entered into Amendment No. 3 (the “Amended Facility”), which, among other things, decreased the maximum aggregate principal commitment from $350.0 million to $300.0 million, with a further reduction in the maximum aggregate principal commitment from $300.0 million to $250.0 million by September 30, 2021 (if not previously reduced to such amount in connection with certain specified asset sales), waived the Company’s compliance with certain financial covenants through the quarter ending March 31, 2022, extended the Modification Period for an additional year, through June 30, 2022, and revised certain negative covenants in connection with the extension. The amendments were accounted for as modifications pursuant to guidance in ASC 470-50. There are no scheduled principal payments of the Amended Facility prior to its maturity date. The Amended Facility contains customary loan terms, interest rates, representations and warranties, affirmative and negative covenants, in each case, subject to customary limitations, exceptions and exclusions. The Amended Facility also contains certain customary events of default. Amendment No. 2 modified the Facility to increase the interest rate to be fixed at a spread of LIBOR plus 350 basis points on drawn balance and the undrawn fee was increased to 50 basis points during the Modification Period. At the end of the Modification Period, interest rates return to the previous pricing based on a spread of LIBOR plus 150-250 basis points on drawn balances and an undrawn fee ranging from 25 to 45 basis points, in each case, based on the Company's leverage ratio. The LIBOR floor was also increased to 1.0% during the Modification Period. The interest rate as of March 31, 2021 was 4.5%. Covenants in the Amended Facility impose operating and financial restrictions on the Company. These restrictions may prohibit or place limitations on, among other things, the Company’s ability to incur additional indebtedness, create certain types of liens, and complete mergers, consolidations, or change in control transactions. The Amended Facility may also prohibit or place limitations on the Company’s ability to sell assets, pay dividends or provide other distributions to stockholders. Beginning with the quarter ended June 30, 2022, the Company must maintain specified leverage and interest ratios measured as of the end of each quarter as a financial covenant in the Amended Facility. Amendment No. 2 modified the Amended Facility's compliance with the leverage covenant and the interest coverage ratio covenant, which were waived through March 31, 2021. A minimum liquidity covenant was added for the period beginning May 1, 2020 until March 31, 2021, and a minimum EBITDA covenant was added for the quarters ended December 31, 2020 and March 31, 2021. Amendment No. 2 also revised certain negative covenants of the Amended Facility during the Modification Period. Amendment No. 3 waived compliance with the leverage ratio and the interest coverage ratio covenants through the quarter ending March 31, 2022 and also lowered the minimum liquidity covenant applicable through such quarter. Amendment No. 3 also removed the minimum EBITDA covenant and restricted the Company from borrowing under the Amended Facility if unrestricted cash and cash equivalents exceed $150.0 million, unless such borrowings are in connection with acquisitions. The Company was in compliance with all applicable financial covenants at March 31, 2021. On February 26, 2021, the Company made a $70.0 million principal repayment on the Amended Facility. During the transition period ended December 31, 2020, the Company did not make any principal repayments. The Amended Facility is secured by a first-lien security interest in substantially all of the assets of Myriad and certain of its domestic subsidiaries and each such domestic subsidiary of Myriad has guaranteed the repayment of the Amended Facility. Amounts outstanding under the Amended Facility were as follows: (in millions) March 31, December 31, Long-term debt $ 156.6 $ 226.7 Long-term debt discount (2.6) (1.9) Net long-term debt $ 154.0 $ 224.8

Other Long-Term Liabilities

Other Long-Term Liabilities	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Other Long-Term Liabilities	OTHER LONG-TERM LIABILITIES (in millions) March 31, December 31, Contingent consideration $ 8.0 $ 7.4 Other 11.3 7.3 Total other long-term liabilities $ 19.3 $ 14.7

Preferred and Common Stockholde

Preferred and Common Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Preferred and Common Stockholders' Equity	PREFERRED AND COMMON STOCKHOLDERS' EQUITY The Company is authorized to issue up to 5.0 million shares of preferred stock, par value $0.01 per share. There were no preferred shares outstanding at March 31, 2021. The Company is authorized to issue up to 150.0 million shares of common stock, par value $0.01 per share. There were 76.7 million shares issued and outstanding at March 31, 2021. Common shares issued and outstanding Three Months Ended (in millions) 2021 2020 Beginning common stock issued and outstanding 75.4 74.5 Common stock issued upon exercise of options, vesting of restricted stock units and purchases under employee stock purchase plan 1.3 — Common stock issued and outstanding at end of period 76.7 74.5 Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share is computed based on the weighted-average number of shares of common stock, including the dilutive effect of common stock equivalents, outstanding. In periods when the Company has a net loss, stock awards are excluded from the calculation of diluted net loss per share as their inclusion would have an antidilutive effect. The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations: Three Months Ended (in millions) 2021 2020 Denominator: Weighted-average shares outstanding used to compute basic EPS 76.0 74.5 Effect of dilutive shares — — Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 76.0 74.5 Certain outstanding options and restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive. These potential dilutive common shares, which may be dilutive to future diluted earnings per share, are as follows: Three Months Ended (in millions) 2021 2020 Anti-dilutive options and RSUs excluded from EPS computation 0.3 0.4 Stock Repurchase Program In June 2016, the Company’s Board of Directors authorized a share repurchase program of $200.0 million of the Company’s outstanding common stock from time to time or on an accelerated basis through open market transactions or privately negotiated transactions as determined by the Company's management. The amount and timing of stock repurchases under the program will depend on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. As of March 31, 2021, the Company is authorized to repurchase up to $110.7 million of shares under this authorization. No shares were repurchased during the three months ended March 31, 2021 or 2020.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION On November 30, 2017, the Company’s stockholders approved the adoption of the 2017 Employee, Director and Consultant Equity Incentive Plan (as amended, the “2017 Plan”). The 2017 Plan allows the Company, under the direction of the Compensation Committee of the Board of Directors, to make grants of restricted and unrestricted stock awards to employees, consultants, and directors. Stockholders have approved annual amendments to the 2017 Plan increasing the shares available to grant. As of March 31, 2021, the Company has 3.3 million shares of common stock available for grant under the 2017 Plan. If an RSU awarded under the 2017 Plan is cancelled or forfeited without the issuance of shares of common stock, the unissued or reacquired shares, which were subject to the RSU, shall again be available for issuance pursuant to the 2017 Plan. To the extent awards outstanding under the Company's prior equity plans expire or are cancelled without delivery of shares of common stock, they also shall be available for issuance pursuant to the 2017 Plan. The number of shares, terms, and vesting periods are determined by the Company’s Board of Directors or a committee thereof on an award-by-award basis. RSUs granted to employees generally vest ratably over four years on the anniversary date of the designated day of the last week of the month in which the RSUs are granted. The number of RSUs awarded to certain employees may be increased or reduced based on certain additional performance metrics. Options and RSUs granted to non-employee directors vest in full upon completion of one year of service on the anniversary following the date of the grant. Options generally vest ratably over service periods of four years. Options granted after December 5, 2012 expire eight years from the date of grant, and options granted prior to that date generally expire ten years from the date of grant. In September 2014, the Company began generally issuing RSUs in lieu of stock options. Stock Options A summary of the stock option activity under the Company’s equity plans and inducement awards, for the three months ended March 31, 2021 is as follows: (number of shares in millions) Number Weighted Options outstanding at December 31, 2020 5.2 $ 23.24 Options granted — $ — Less: Options exercised (1.2) $ 21.83 Options canceled or expired (0.1) $ 24.29 Options outstanding at March 31, 2021 3.9 $ 23.66 Options exercisable at March 31, 2021 3.3 $ 25.79 As of March 31, 2021, there was $4.0 million of total unrecognized share-based compensation expense related to stock options that will be recognized over a weighted-average period of 2.3 years. Restricted Stock Units A summary of the RSU activity under the Company’s equity plans and inducement awards, including RSU awards with performance metrics, for the three months ended March 31, 2021 is as follows: (number of shares in millions) Number Weighted RSUs outstanding at December 31, 2020 3.2 $ 20.56 RSUs granted 1.3 $ 30.07 Less: RSUs vested — $ — RSUs canceled (0.1) $ 25.60 RSUs outstanding at March 31, 2021 4.4 $ 23.53 As of March 31, 2021, there was $89.5 million of total unrecognized share-based compensation expense related to RSUs that will be recognized over a weighted-average period of 2.8 years. Employee Stock Purchase Plan The Company also has an Employee Stock Purchase Plan that was approved by stockholders in 2012 (the “2012 Purchase Plan”), under which 2.0 million shares of common stock have been authorized. Shares are issued under the 2012 Purchase Plan twice yearly at the end of each offering period. As of March 31, 2021, approximately 0.2 million shares of common stock are available for issuance under the 2012 Purchase Plan. Share-Based Compensation Expense Share-based compensation expense recognized and included in the condensed consolidated statements of operations and comprehensive loss was allocated as follows: Three Months Ended (in millions) 2021 2020 Cost of molecular diagnostic testing $ 0.3 $ 0.3 Cost of pharmaceutical and clinical services 0.1 0.1 Research and development expense 1.5 1.2 Selling, general, and administrative expense 7.1 5.9 Total share-based compensation expense $ 9.0 $ 7.5

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES In order to determine the Company’s quarterly provision for income taxes, the Company used an estimated annual effective tax rate that is based on expected annual income and statutory tax rates in the various jurisdictions in which the Company operates. Certain significant or unusual items are separately recognized in the quarter during which they occur and can be a source of variability in the effective tax rate from quarter to quarter. Income tax benefit for the three months ended March 31, 2021 was $10.1 million, or approximately 20.4% of pre-tax loss compared to an income tax benefit of $15.9 million, or approximately 12.1% of pre-tax loss, for the three months ended March 31, 2020. Income tax benefit for the three months ended March 31, 2021 is based on the Company’s estimated annualized effective tax rate for the fiscal year ending December 31, 2021, adjusted for discrete items recognized during the period. For the three months ended March 31, 2021, the Company’s recognized effective tax rate differs from the U.S. federal statutory rate primarily due to disallowed executive compensation expenses, disallowed meals and entertainment expenses, and differences between the total amount of stock compensation recognized and the amount allowable for tax deductions.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIESThe Company is subject to various claims and legal proceedings covering matters that arise in the ordinary course of its business activities. As of March 31, 2021, the management of the Company believes any reasonably possible liability that may 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.From time to time, the Company receives recoupment requests from third-party payors for alleged overpayments. The Company disagrees with the contentions of the pending requests or has recorded an estimated reserve for the alleged overpayments.

Segment and Related Information

Segment and Related Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment and Related Information	SEGMENT AND RELATED INFORMATION The Company’s business is aligned with how the chief operating decision maker reviews performance and makes decisions in managing the Company. The business units have been aggregated into two reportable segments: (i) diagnostics and (ii) other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to ensure optimal treatment, or assess a patient’s risk of disease progression and disease recurrence. The other segment provides testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients, and includes corporate services such as finance, human resources, legal and information technology. Segment revenue and operating income (loss) were as follows during the periods presented: (in millions) Diagnostics Other Total Three months ended March 31, 2021 Revenues $ 157.8 $ 15.3 $ 173.1 Depreciation and amortization 17.0 1.4 18.4 Segment operating income (loss) 10.5 (57.2) (46.7) Three months ended March 31, 2020 Revenues $ 150.5 $ 13.5 $ 164.0 Depreciation and amortization 16.8 1.1 17.9 Segment operating loss (93.6) (40.1) (133.7) Three Months Ended (in millions) 2021 2020 Total operating loss for reportable segments $ (46.7) $ (133.7) Unallocated amounts: Interest income 0.2 0.8 Interest expense (3.0) (2.3) Other (0.1) 4.1 Loss from operations before income taxes (49.6) (131.1) Income tax benefit (10.1) (15.9) Net loss (39.5) (115.2) Net loss attributable to non-controlling interest — — Net loss attributable to Myriad Genetics, Inc. stockholders $ (39.5) $ (115.2)

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION Three Months Ended (in millions) 2021 2020 Cash paid during the period for income taxes $ — $ 0.2 Cash paid for interest 2.3 2.1 Establishment of operating lease right-of-use assets and lease liabilities Operating lease right-of-use assets $ 2.7 $ — Operating lease liabilities 2.7 —

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSOn April 26, 2021, the Company entered into a definitive agreement to sell the Myriad myPath, LLC laboratory, which is the laboratory that offers the myPath Melanoma test, to Castle Biosciences, Inc. for total cash consideration of $32.5 million. On May 1, 2021, the Company entered into a definitive agreement to sell select operating assets and intellectual property, including the Vectra® test, from the Myriad Autoimmune business unit to Laboratory Corporation of America Holdings for total cash consideration of $150.0 million.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements for the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with GAAP. The condensed consolidated financial statements herein should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Transition Report on Form 10-K for the transition period ended December 31, 2020. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Operating results for the three months ended March 31, 2021 may not necessarily be indicative of results to be expected for any other interim period or for the full year.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassifications have no impact on the total assets, total liabilities, stockholders’ equity, cash flows from operations, or net loss for the period.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Standards In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASC 2019-12 is a new accounting standard to simplify accounting for income taxes and remove, modify, and add to the disclosure requirements of income taxes. The standard is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. This guidance was adopted with no material impact to the Company's Condensed Consolidated Financial Statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Total Revenue by Product and by U.S versus Rest of World	The following table presents detail regarding the composition of the Company’s total revenue by product and by U.S. versus rest of world (“RoW”): Three Months Ended March 31, 2021 2020 (in millions) U.S. RoW Total U.S. RoW Total Molecular diagnostic revenues: Hereditary Cancer Testing $ 65.1 $ 11.0 $ 76.1 $ 81.3 $ 3.9 $ 85.2 Prenatal 23.6 0.1 23.7 20.2 0.1 20.3 GeneSight 17.6 — 17.6 20.4 — 20.4 Vectra 10.7 — 10.7 10.5 — 10.5 myChoice CDx 4.8 3.6 8.4 3.2 0.1 3.3 Prolaris 18.5 — 18.5 6.8 — 6.8 EndoPredict 0.9 3.2 4.1 0.6 2.9 3.5 Other — 0.5 0.5 0.4 0.1 0.5 Total molecular diagnostic revenue 141.2 18.4 159.6 143.4 7.1 150.5 Pharmaceutical and clinical service revenue 13.5 — 13.5 9.6 3.9 13.5 Total revenue $ 154.7 $ 18.4 $ 173.1 $ 153.0 $ 11.0 $ 164.0
Reconciliation of Deferred Revenue Balances	A reconciliation of the beginning and ending balances of deferred revenue is shown in the table below: Three Months Ended (in millions) 2021 2020 Deferred revenue - beginning balance $ 32.7 $ 3.6 Revenue recognized (6.7) (1.3) Prepayments 5.1 1.5 Deferred revenue - ending balance $ 31.1 $ 3.8

Marketable Investment Securit_2

Marketable Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Fair Value for Available-for-Sale Securities by Major Security Type and Class of Security	The amortized cost, gross unrealized holding gains, gross unrealized holding losses, and fair value for available-for-sale securities by major security type and class of security at March 31, 2021 and December 31, 2020 were as follows: (in millions) Amortized Gross Gross Estimated March 31, 2021: Cash and cash equivalents: Cash $ 65.9 $ — $ — $ 65.9 Cash equivalents 83.0 — — 83.0 Total cash and cash equivalents 148.9 — — 148.9 Available-for-sale: Corporate bonds and notes 22.7 0.4 — 23.1 Municipal bonds 8.2 0.1 — 8.3 Federal agency issues 4.0 — — 4.0 US government securities 3.7 — — 3.7 Total $ 187.5 $ 0.5 $ — $ 188.0 (in millions) Amortized Gross Gross Estimated December 31, 2020: Cash and cash equivalents: Cash $ 47.9 $ — $ — $ 47.9 Cash equivalents 69.1 — — 69.1 Total cash and cash equivalents 117.0 — — 117.0 Available-for-sale: Corporate bonds and notes 28.8 0.5 — 29.3 Municipal bonds 9.4 0.2 — 9.6 Federal agency issues 4.0 — — 4.0 US government securities 11.7 0.1 — 11.8 Total $ 170.9 $ 0.8 $ — $ 171.7
Schedule of Cash, Cash Equivalents, and Maturities of Debt Securities Classified as Available-For-Sale Securities	Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities were as follows at March 31, 2021: (in millions) Amortized Estimated Cash $ 65.9 $ 65.9 Cash equivalents 83.0 83.0 Available-for-sale: Due within one year 26.9 27.2 Due after one year through five years 11.7 11.9 Due after five years — — Total $ 187.5 $ 188.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets and Liabilities	The following table sets forth the fair value of the financial assets and liabilities that the Company re-measures on a regular basis: (in millions) Level 1 Level 2 Level 3 Total March 31, 2021 Money market funds (a) $ 83.0 $ — $ — $ 83.0 Corporate bonds and notes — 23.1 — 23.1 Municipal bonds — 8.3 — 8.3 Federal agency issues — 4.0 — 4.0 US government securities — 3.7 — 3.7 Contingent consideration — — (8.0) (8.0) Total $ 83.0 $ 39.1 $ (8.0) $ 114.1 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest. (in millions) Level 1 Level 2 Level 3 Total December 31, 2020 Money market funds (a) $ 69.1 $ — $ — $ 69.1 Corporate bonds and notes — 29.3 — 29.3 Municipal bonds — 9.6 — 9.6 Federal agency issues — 4.0 — 4.0 US government securities — 11.8 — 11.8 Contingent consideration — — (10.9) (10.9) Total $ 69.1 $ 54.7 $ (10.9) $ 112.9 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest.
Change in Fair Value of Contingent Consideration	The following table reconciles the change in the fair value of the contingent consideration during the periods presented: (in millions) Carrying Balance December 31, 2020 $ 10.9 Payment of contingent consideration (3.3) Change in fair value recognized in the income statement 0.9 Translation adjustments recognized in other comprehensive loss (0.5) Ending balance March 31, 2021 $ 8.0

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	(in millions) March 31, December 31, Leasehold improvements $ 36.8 $ 35.7 Equipment 119.0 117.9 Property, plant and equipment, gross 155.8 153.6 Less accumulated depreciation (110.7) (112.9) Property, plant and equipment, net $ 45.1 $ 40.7 Three Months Ended (in millions) 2021 2020 Depreciation expense $ 2.9 $ 2.6

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the three months ended March 31, 2021: (in millions) Diagnostic Other Total Beginning balance $ 272.3 $ 56.9 $ 329.2 Translation adjustments (0.9) — (0.9) Ending balance $ 271.4 $ 56.9 $ 328.3
Schedule of Amortizable Intangible Assets	The following summarizes the amounts reported as intangible assets: (in millions) Gross Accumulated Net At March 31, 2021: Purchased licenses and technologies $ 816.6 $ (263.1) $ 553.5 Customer relationships 4.7 (4.6) 0.1 Trademarks 3.0 (1.5) 1.5 Total amortized intangible assets 824.3 (269.2) 555.1 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 829.1 $ (269.2) $ 559.9 (in millions) Gross Accumulated Net At December 31, 2020: Purchased licenses and technologies $ 818.2 $ (248.2) $ 570.0 Customer relationships 4.7 (4.5) 0.2 Trademarks 3.0 (1.5) 1.5 Total amortized intangible assets 825.9 (254.2) 571.7 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 830.7 $ (254.2) $ 576.5
Schedule of Non-amortizable Intangible Assets	The following summarizes the amounts reported as intangible assets: (in millions) Gross Accumulated Net At March 31, 2021: Purchased licenses and technologies $ 816.6 $ (263.1) $ 553.5 Customer relationships 4.7 (4.6) 0.1 Trademarks 3.0 (1.5) 1.5 Total amortized intangible assets 824.3 (269.2) 555.1 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 829.1 $ (269.2) $ 559.9 (in millions) Gross Accumulated Net At December 31, 2020: Purchased licenses and technologies $ 818.2 $ (248.2) $ 570.0 Customer relationships 4.7 (4.5) 0.2 Trademarks 3.0 (1.5) 1.5 Total amortized intangible assets 825.9 (254.2) 571.7 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 830.7 $ (254.2) $ 576.5
Schedule of Recorded Amortization Expense for Intangible Assets	The Company recorded amortization expense during the respective periods for these intangible assets as follows: Three Months Ended (in millions) 2021 2020 Amortization of intangible assets $ 15.5 $ 15.3

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	(in millions) March 31, December 31, Employee compensation and benefits $ 41.2 $ 43.7 Accrued taxes payable 5.4 4.3 Recoupments payable and reserves 6.9 9.3 Short-term contingent consideration — 3.4 Other 29.6 18.4 Total accrued liabilities $ 83.1 $ 79.1

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Amounts outstanding under the Amended Facility were as follows: (in millions) March 31, December 31, Long-term debt $ 156.6 $ 226.7 Long-term debt discount (2.6) (1.9) Net long-term debt $ 154.0 $ 224.8

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Schedule of Other Long-Term Liabilities	(in millions) March 31, December 31, Contingent consideration $ 8.0 $ 7.4 Other 11.3 7.3 Total other long-term liabilities $ 19.3 $ 14.7

Preferred and Common Stockhol_2

Preferred and Common Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Summary of Common Shares Issued and Outstanding	Common shares issued and outstanding Three Months Ended (in millions) 2021 2020 Beginning common stock issued and outstanding 75.4 74.5 Common stock issued upon exercise of options, vesting of restricted stock units and purchases under employee stock purchase plan 1.3 — Common stock issued and outstanding at end of period 76.7 74.5
Reconciliation of Denominators of Basic and Diluted Earnings Per Share Computations	The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations: Three Months Ended (in millions) 2021 2020 Denominator: Weighted-average shares outstanding used to compute basic EPS 76.0 74.5 Effect of dilutive shares — — Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 76.0 74.5
Schedule of Potential Dilutive Common Shares	These potential dilutive common shares, which may be dilutive to future diluted earnings per share, are as follows: Three Months Ended (in millions) 2021 2020 Anti-dilutive options and RSUs excluded from EPS computation 0.3 0.4

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of the stock option activity under the Company’s equity plans and inducement awards, for the three months ended March 31, 2021 is as follows: (number of shares in millions) Number Weighted Options outstanding at December 31, 2020 5.2 $ 23.24 Options granted — $ — Less: Options exercised (1.2) $ 21.83 Options canceled or expired (0.1) $ 24.29 Options outstanding at March 31, 2021 3.9 $ 23.66 Options exercisable at March 31, 2021 3.3 $ 25.79
Schedule of Restricted Stock Unit Activity	A summary of the RSU activity under the Company’s equity plans and inducement awards, including RSU awards with performance metrics, for the three months ended March 31, 2021 is as follows: (number of shares in millions) Number Weighted RSUs outstanding at December 31, 2020 3.2 $ 20.56 RSUs granted 1.3 $ 30.07 Less: RSUs vested — $ — RSUs canceled (0.1) $ 25.60 RSUs outstanding at March 31, 2021 4.4 $ 23.53
Schedule of Share-Based Compensation Expense	Share-based compensation expense recognized and included in the condensed consolidated statements of operations and comprehensive loss was allocated as follows: Three Months Ended (in millions) 2021 2020 Cost of molecular diagnostic testing $ 0.3 $ 0.3 Cost of pharmaceutical and clinical services 0.1 0.1 Research and development expense 1.5 1.2 Selling, general, and administrative expense 7.1 5.9 Total share-based compensation expense $ 9.0 $ 7.5

Segment and Related Informati_2

Segment and Related Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Revenue and Operating Income (Loss)	Segment revenue and operating income (loss) were as follows during the periods presented: (in millions) Diagnostics Other Total Three months ended March 31, 2021 Revenues $ 157.8 $ 15.3 $ 173.1 Depreciation and amortization 17.0 1.4 18.4 Segment operating income (loss) 10.5 (57.2) (46.7) Three months ended March 31, 2020 Revenues $ 150.5 $ 13.5 $ 164.0 Depreciation and amortization 16.8 1.1 17.9 Segment operating loss (93.6) (40.1) (133.7) Three Months Ended (in millions) 2021 2020 Total operating loss for reportable segments $ (46.7) $ (133.7) Unallocated amounts: Interest income 0.2 0.8 Interest expense (3.0) (2.3) Other (0.1) 4.1 Loss from operations before income taxes (49.6) (131.1) Income tax benefit (10.1) (15.9) Net loss (39.5) (115.2) Net loss attributable to non-controlling interest — — Net loss attributable to Myriad Genetics, Inc. stockholders $ (39.5) $ (115.2)

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Three Months Ended (in millions) 2021 2020 Cash paid during the period for income taxes $ — $ 0.2 Cash paid for interest 2.3 2.1 Establishment of operating lease right-of-use assets and lease liabilities Operating lease right-of-use assets $ 2.7 $ — Operating lease liabilities 2.7 —

Revenue - Total Revenue by Prod

Revenue - Total Revenue by Product and by US versus Rest of World (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 173.1	$ 164
U.S.
Disaggregation of Revenue [Line Items]
Total revenue	154.7	153
RoW
Disaggregation of Revenue [Line Items]
Total revenue	18.4	11
Molecular diagnostic testing
Disaggregation of Revenue [Line Items]
Total revenue	159.6	150.5
Molecular diagnostic testing | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	141.2	143.4
Molecular diagnostic testing | RoW
Disaggregation of Revenue [Line Items]
Total revenue	18.4	7.1
Molecular diagnostic - Hereditary Cancer Testing
Disaggregation of Revenue [Line Items]
Total revenue	76.1	85.2
Molecular diagnostic - Hereditary Cancer Testing | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	65.1	81.3
Molecular diagnostic - Hereditary Cancer Testing | RoW
Disaggregation of Revenue [Line Items]
Total revenue	11	3.9
Molecular diagnostic - Prenatal
Disaggregation of Revenue [Line Items]
Total revenue	23.7	20.3
Molecular diagnostic - Prenatal | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	23.6	20.2
Molecular diagnostic - Prenatal | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0.1	0.1
Molecular diagnostic - GeneSight
Disaggregation of Revenue [Line Items]
Total revenue	17.6	20.4
Molecular diagnostic - GeneSight | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	17.6	20.4
Molecular diagnostic - GeneSight | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Molecular diagnostic - Vectra
Disaggregation of Revenue [Line Items]
Total revenue	10.7	10.5
Molecular diagnostic - Vectra | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	10.7	10.5
Molecular diagnostic - Vectra | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Molecular diagnostic - myChoice CDx
Disaggregation of Revenue [Line Items]
Total revenue	8.4	3.3
Molecular diagnostic - myChoice CDx | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	4.8	3.2
Molecular diagnostic - myChoice CDx | RoW
Disaggregation of Revenue [Line Items]
Total revenue	3.6	0.1
Molecular diagnostic - Prolaris
Disaggregation of Revenue [Line Items]
Total revenue	18.5	6.8
Molecular diagnostic - Prolaris | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	18.5	6.8
Molecular diagnostic - Prolaris | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Molecular diagnostic - EndoPredict
Disaggregation of Revenue [Line Items]
Total revenue	4.1	3.5
Molecular diagnostic - EndoPredict | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	0.9	0.6
Molecular diagnostic - EndoPredict | RoW
Disaggregation of Revenue [Line Items]
Total revenue	3.2	2.9
Molecular diagnostic - Other
Disaggregation of Revenue [Line Items]
Total revenue	0.5	0.5
Molecular diagnostic - Other | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	0	0.4
Molecular diagnostic - Other | RoW
Disaggregation of Revenue [Line Items]
Total revenue	0.5	0.1
Pharmaceutical and clinical services
Disaggregation of Revenue [Line Items]
Total revenue	13.5	13.5
Pharmaceutical and clinical services | U.S.
Disaggregation of Revenue [Line Items]
Total revenue	13.5	9.6
Pharmaceutical and clinical services | RoW
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 3.9

Revenue - Reconciliation of Def

Revenue - Reconciliation of Deferred Revenue Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reconciliation of Deferred Revenue
Deferred revenue - beginning balance	$ 32.7	$ 3.6
Revenue recognized	(6.7)	(1.3)
Prepayments	5.1	1.5
Deferred revenue - ending balance	$ 31.1	$ 3.8

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Advance Medicare payments to provide relief from economic impacts of COVID-19			$ 29,700,000
Revenue, remaining performance obligation	$ 11,200,000
Revenue increase (decrease) due to changes in estimated transaction price due to contractual adjustments	5,300,000
Revenue recognized due to expanded local coverage determination for which revenue was previously constrained	6,800,000
Capitalized costs incurred to obtain or fulfill contract	$ 0
Performance obligation estimate
Revenue and Concentration Risk [Line Items]
Change in earnings (loss) per share (dollars per share)	$ 0.07
Revenues | Medicare
Revenue and Concentration Risk [Line Items]
Concentration risk (percent)	19.00%	16.00%

Marketable Investment Securit_3

Marketable Investment Securities - Fair Value for Available-for-Sale Securities by Major Security Type and Class of Security (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Cash and cash equivalents:
Cash and cash equivalents, Amortized cost	$ 148.9	$ 117
Cash and cash equivalents, Estimated fair value	148.9	117
Total:
Total, Amortized cost	187.5	170.9
Total, Gross unrealized holding gains	0.5	0.8
Total, Gross unrealized holding losses	0	0
Total, Estimated fair value	188	171.7
Cash
Cash and cash equivalents:
Cash and cash equivalents, Amortized cost	65.9	47.9
Cash and cash equivalents, Estimated fair value	65.9	47.9
Cash equivalents
Cash and cash equivalents:
Cash and cash equivalents, Amortized cost	83	69.1
Cash and cash equivalents, Estimated fair value	83	69.1
Corporate bonds and notes
Available-for-sale:
Available-for-sale, Amortized cost	22.7	28.8
Available-for-sale, Gross unrealized holding gains	0.4	0.5
Available-for-sale, Gross unrealized holding losses	0	0
Available-for-sale, Estimated fair value	23.1	29.3
Municipal bonds
Available-for-sale:
Available-for-sale, Amortized cost	8.2	9.4
Available-for-sale, Gross unrealized holding gains	0.1	0.2
Available-for-sale, Gross unrealized holding losses	0	0
Available-for-sale, Estimated fair value	8.3	9.6
Federal agency issues
Available-for-sale:
Available-for-sale, Amortized cost	4	4
Available-for-sale, Gross unrealized holding gains	0	0
Available-for-sale, Gross unrealized holding losses	0	0
Available-for-sale, Estimated fair value	4	4
US government securities
Available-for-sale:
Available-for-sale, Amortized cost	3.7	11.7
Available-for-sale, Gross unrealized holding gains	0	0.1
Available-for-sale, Gross unrealized holding losses	0	0
Available-for-sale, Estimated fair value	$ 3.7	$ 11.8

Marketable Investment Securit_4

Marketable Investment Securities - Cash, Cash Equivalents, and Maturities of Debt Securities Classified as Available-For-Sale Securities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Amortized cost
Cash and cash equivalents	$ 148.9	$ 117
Available-for-sale, Due within one year	26.9
Available-for-sale, Due after one year through five years	11.7
Available-for-sale, Due after five years	0
Total, Amortized cost	187.5	170.9
Estimated fair value
Cash and cash equivalents	148.9	117
Available-for-sale, Due within one year	27.2
Available-for-sale, Due after one year through five years	11.9
Available-for-sale, Due after five years	0
Total, Estimated fair value	188	171.7
Cash
Amortized cost
Cash and cash equivalents	65.9	47.9
Estimated fair value
Cash and cash equivalents	65.9	47.9
Cash equivalents
Amortized cost
Cash and cash equivalents	83	69.1
Estimated fair value
Cash and cash equivalents	$ 83	$ 69.1

Marketable Investment Securit_5

Marketable Investment Securities - Narrative (Details) - security	Mar. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Debt securities, available-for-sale, in unrealized loss position	0	0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - Level 3 $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of long-term debt	$ 153.6
Measurement input, expected term
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement period for earn out liability	14 years 3 months 18 days

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 114.1	$ 112.9
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	83	69.1
Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	23.1	29.3
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	8.3	9.6
Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	4	4
US government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	3.7	11.8
Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	(8)	(10.9)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	83	69.1
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	83	69.1
Level 1 | Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 1 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 1 | Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 1 | US government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 1 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	39.1	54.7
Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 2 | Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	23.1	29.3
Level 2 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	8.3	9.6
Level 2 | Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	4	4
Level 2 | US government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	3.7	11.8
Level 2 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	(8)	(10.9)
Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | Corporate bonds and notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | Federal agency issues
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | US government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0	0
Level 3 | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ (8)	$ (10.9)

Fair Value Measurements - Chang

Fair Value Measurements - Change in Fair Value of Contingent Consideration (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Reconciliation of change in fair value of contingent consideration
Beginning balance	$ 10.9
Payment of contingent consideration	(3.3)
Change in fair value recognized in the income statement	0.9
Translation adjustments recognized in other comprehensive loss	(0.5)
Ending balance	$ 8

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Balances (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 155.8	$ 153.6
Less accumulated depreciation	(110.7)	(112.9)
Property, plant and equipment, net	45.1	40.7
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	36.8	35.7
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 119	$ 117.9

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Depreciation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2.9	$ 2.6

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Carrying Amount of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 329.2
Translation adjustments	(0.9)
Ending balance	328.3
Diagnostics
Goodwill [Roll Forward]
Beginning balance	272.3
Translation adjustments	(0.9)
Ending balance	271.4
Other
Goodwill [Roll Forward]
Beginning balance	56.9
Translation adjustments	0
Ending balance	$ 56.9

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable	$ 824.3	$ 825.9
Accumulated Amortization	(269.2)	(254.2)
Net, amortizable	555.1	571.7
Non-amortizable	4.8	4.8
Gross Carrying Amount, total	829.1	830.7
Net, total	559.9	576.5
Purchased licenses and technologies
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable	816.6	818.2
Accumulated Amortization	(263.1)	(248.2)
Net, amortizable	553.5	570
Customer relationships
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable	4.7	4.7
Accumulated Amortization	(4.6)	(4.5)
Net, amortizable	0.1	0.2
Trademarks
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable	3	3
Accumulated Amortization	(1.5)	(1.5)
Net, amortizable	1.5	1.5
In-process research and development
Intangible Assets [Line Items]
Non-amortizable	$ 4.8	$ 4.8

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Amortization on Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 15.5	$ 15.3

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 41.2	$ 43.7
Accrued taxes payable	5.4	4.3
Recoupments payable and reserves	6.9	9.3
Short-term contingent consideration	0	3.4
Other	29.6	18.4
Total accrued liabilities	$ 83.1	$ 79.1

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	Jul. 01, 2021	Jul. 31, 2018	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Jun. 30, 2021	Sep. 30, 2021	Feb. 21, 2021	Dec. 23, 2016
Debt Instrument [Line Items]
Principal repayment			$ 70,000,000	$ 0
Revolving credit facility
Debt Instrument [Line Items]
Maximum aggregate principal commitment									$ 300,000,000
Principal repayment			70,000,000		$ 0
Revolving credit facility | Amended facility
Debt Instrument [Line Items]
Maturity date		Jul. 31, 2023
Maximum aggregate principal commitment		$ 350,000,000			$ 350,000,000			$ 300,000,000
Scheduled principal payments prior to maturity date			$ 0
Interest rate (percent)			4.50%
Minimum unrestricted cash and cash equivalents threshold per covevnant								$ 150,000,000
Revolving credit facility | Amended facility | Forecast
Debt Instrument [Line Items]
Maximum aggregate principal commitment							$ 250,000,000
Undrawn fee (percent)						0.50%
LIBOR floor (percent)						1.00%
Revolving credit facility | Amended facility | Forecast | Minimum
Debt Instrument [Line Items]
Undrawn fee (percent)	0.25%
Revolving credit facility | Amended facility | Forecast | Maximum
Debt Instrument [Line Items]
Undrawn fee (percent)	0.45%
Revolving credit facility | Amended facility | LIBOR | Forecast
Debt Instrument [Line Items]
Basis spread on rate (percent)						3.50%

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Long-term Debt
Long-term debt	$ 156.6	$ 226.7
Long-term debt discount	(2.6)	(1.9)
Net long-term debt	$ 154	$ 224.8

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Contingent consideration	$ 8	$ 7.4
Other	11.3	7.3
Total other long-term liabilities	$ 19.3	$ 14.7

Preferred and Common Stockhol_3

Preferred and Common Stockholders' Equity - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2016
Class of Stock [Line Items]
Preferred stock authorized (shares)	5,000,000
Preferred stock, par value (dollars per share)	$ 0.01
Preferred stock outstanding (shares)	0
Common stock authorized (shares)	150,000,000
Common stock, par value (dollars per share)	$ 0.01
Common stock issued (shares)	76,700,000	74,500,000	75,400,000	74,500,000
Common stock outstanding (shares)	76,700,000	74,500,000	75,400,000	74,500,000
Share repurchase program, remaining repurchase authorization	$ 110,700,000
Shares repurchased	0	0
Eighth Share Repurchase Program
Class of Stock [Line Items]
Share repurchase program, authorized amount					$ 200,000,000

Preferred and Common Stockhol_4

Preferred and Common Stockholders' Equity - Common Shares Issued and Outstanding (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Common shares issued and outstanding
Beginning common stock issued	75.4	74.5
Beginning common stock outstanding	75.4	74.5
Common stock issued upon exercise of options, vesting of restricted stock units and purchases under employee stock purchase plan	1.3	0
Common stock issued at end of period	76.7	74.5
Common stock outstanding at end of period	76.7	74.5

Preferred and Common Stockhol_5

Preferred and Common Stockholders' Equity - Reconciliation of Denominators of Basic and Diluted Earnings Per Share Computations (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity [Abstract]
Weighted-average shares outstanding used to compute basic EPS	76	74.5
Effect of dilutive shares	0	0
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS	76	74.5

Preferred and Common Stockhol_6

Preferred and Common Stockholders' Equity - Potentially Dilutive Common Shares Excluded from EPS Computation (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity [Abstract]
Anti-dilutive options and RSUs excluded from EPS computation	0.3	0.4

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)shares
Share-Based Compensation [Line Items]
Unrecognized share-based compensation expense related to stock options | $	$ 4
Options and RSUs | Non-employee director
Share-Based Compensation [Line Items]
Service period for award vesting (in years)	1 year
Stock options
Share-Based Compensation [Line Items]
Service period for award vesting (in years)	4 years
Weighted-average period for recognition of share-based compensation expense (in years)	2 years 3 months 18 days
Stock options | Awards granted after December 5, 2012
Share-Based Compensation [Line Items]
Award expiration period (in years)	8 years
Stock options | Awards granted prior to December 5, 2012
Share-Based Compensation [Line Items]
Award expiration period (in years)	10 years
RSUs
Share-Based Compensation [Line Items]
Service period for award vesting (in years)	4 years
Unrecognized share-based compensation expense related to RSUs | $	$ 89.5
Weighted-average period for recognition of share-based compensation expense (in years)	2 years 9 months 18 days
2017 Plan
Share-Based Compensation [Line Items]
Shares available for grant	3,300,000
2012 Purchase Plan
Share-Based Compensation [Line Items]
Number of shares authorized	2,000,000
Shares available for issuance under the Plan	200,000

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) shares in Millions	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Options, Number of shares
Options outstanding, beginning (shares) | shares	5.2
Options granted (shares) | shares	0
Options exercised (shares) | shares	(1.2)
Options canceled or expired (shares) | shares	(0.1)
Options outstanding, ending (shares) | shares	3.9
Options exercisable at end of period (shares) | shares	3.3
Options, Weighted average exercise price
Options outstanding, beginning (dollars per share) | $ / shares	$ 23.66
Options granted (dollars per share) | $ / shares	0
Options exercised (dollars per share) | $ / shares	21.83
Options canceled or expired (dollars per share) | $ / shares	24.29
Options outstanding, ending (dollars per share) | $ / shares	23.24
Options exercisable at end of period (dollars per share) | $ / shares	$ 25.79

Share-Based Compensation - RSU

Share-Based Compensation - RSU Activity (Details) - RSUs shares in Millions	3 Months Ended
	Mar. 31, 2021$ / sharesshares
RSUs, Number of shares
RSUs outstanding, beginning (shares) | shares	3.2
RSUs granted (shares) | shares	1.3
RSUs vested (shares) | shares	0
RSUs canceled (shares) | shares	(0.1)
RSUs outstanding, ending (shares) | shares	4.4
RSUs, Weighted average grant date fair value
RSUs outstanding, beginning (dollars per share) | $ / shares	$ 20.56
RSUs granted (dollars per share) | $ / shares	30.07
RSUs vested (dollars per share) | $ / shares	0
RSUs canceled (dollars per share) | $ / shares	25.60
RSUs outstanding, ending (dollars per share) | $ / shares	$ 23.53

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	$ 9	$ 7.5
Cost of molecular diagnostic testing
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	0.3	0.3
Cost of pharmaceutical and clinical services
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	0.1	0.1
Research and development expense
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	1.5	1.2
Selling, general, and administrative expense
Share-Based Compensation Expense [Line Items]
Total share-based compensation expense	$ 7.1	$ 5.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Taxes [Line Items]
Income tax benefit	$ (10.1)	$ (15.9)
Approximate tax rate	20.40%	12.10%
State | New Jersey | Earliest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2013
State | New Jersey | Latest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2017
State | New York | Earliest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2014
State | New York | Latest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2016
State | Massachusetts | Earliest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2014
State | Massachusetts | Latest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2016
Foreign | Germany | Earliest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2013
Foreign | Germany | Latest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2015
Foreign | Switzerland | Earliest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2015
Foreign | Switzerland | Latest tax year
Income Taxes [Line Items]
Tax year being audited in income tax examination	2016

Segment and Related Informati_3

Segment and Related Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2021segment
Segment Reporting [Abstract]
Number of reportable segment	2

Segment and Related Informati_4

Segment and Related Information - Segment Revenue and Operating Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 173.1	$ 164
Depreciation and amortization	18.4	17.9
Segment operating income (loss)	(46.7)	(133.7)
Diagnostics
Segment Reporting Information [Line Items]
Revenues	157.8	150.5
Depreciation and amortization	17	16.8
Segment operating income (loss)	10.5	(93.6)
Other
Segment Reporting Information [Line Items]
Revenues	15.3	13.5
Depreciation and amortization	1.4	1.1
Segment operating income (loss)	$ (57.2)	$ (40.1)

Segment and Related Informati_5

Segment and Related Information - Total Operating Loss for Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting [Abstract]
Total operating loss for reportable segments	$ (46.7)	$ (133.7)
Interest income	0.2	0.8
Interest expense	(3)	(2.3)
Other	(0.1)	4.1
Loss before income tax	(49.6)	(131.1)
Income tax benefit	(10.1)	(15.9)
Net loss	(39.5)	(115.2)
Net loss attributable to non-controlling interest	0	0
Net loss attributable to Myriad Genetics, Inc. stockholders	$ (39.5)	$ (115.2)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Cash paid during the period for income taxes	$ 0	$ 0.2
Cash paid for interest	2.3	2.1
Establishment of operating lease right-of-use assets and lease liabilities
Operating lease right-of-use assets	2.7	0
Operating lease liabilities	$ 2.7	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent event - USD ($) $ in Millions	May 01, 2021	Apr. 26, 2021
Myriad myPath LLC laboratory
Subsequent Event [Line Items]
Total cash consideration		$ 32.5
Select operating assets and intellectual property of Myriad Autoimmune business unit
Subsequent Event [Line Items]
Total cash consideration	$ 150