Myriad Genetics (MYGN) 10-Q 4 May 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	MYGN
Entity Registrant Name	MYRIAD GENETICS INC
Entity Central Index Key	899,923
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		70,298,970

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 120.5	$ 64.1
Marketable investment securities	96.2	80.7
Prepaid expenses	21.1	12.5
Inventory	25.3	25.1
Trade accounts receivable, less allowance for doubtful accounts of $6.5 March 31, 2016 and $7.6 June 30, 2015	91.1	85.8
Deferred taxes		13.5
Prepaid taxes	15.3
Other receivables	2.9	1.9
Total current assets	372.4	283.6
Property, plant and equipment, net	60	67.2
Long-term marketable investment securities	69.7	40.6
Intangibles, net	183.2	192.6
Goodwill	177.9	177.2
Other assets	5	5
Total assets	868.2	766.2
Current liabilities:
Accounts payable	13.8	21.1
Accrued liabilities	50.8	46.1
Deferred revenue	1.5	1.5
Total current liabilities	66.1	68.7
Unrecognized tax benefits	24	26.4
Other long-term liabilities	7.7	8.8
Long-term deferred taxes	0.2	0.2
Total liabilities	$ 98	$ 104.1
Commitments and contingencies
Stockholders' equity:
Common stock, 70.4 and 68.9 shares outstanding at March 31, 2016 and June 30, 2015 respectively	$ 0.7	$ 0.7
Additional paid-in capital	847	745.4
Accumulated other comprehensive loss	(8.3)	(7)
Accumulated deficit	(69.2)	(77)
Total stockholders' equity	770.2	662.1
Total liabilities and stockholders' equity	$ 868.2	$ 766.2

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 6.5	$ 7.6
Common stock, shares outstanding	70.4	68.9

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Molecular diagnostic testing	$ 177.4	$ 173	$ 532	$ 516.6
Pharmaceutical and clinical services	13.1	7	35.4	16.6
Total revenue	190.5	180	567.4	533.2
Costs and expenses:
Cost of molecular diagnostic testing	33.6	33	98.6	100.9
Cost of pharmaceutical and clinical services	6.6	3.3	18.7	8.1
Research and development expense	17.2	16.7	51.1	56.8
Selling, general, and administrative expense	90.5	91.3	267.8	269.4
Total costs and expenses	147.9	144.3	436.2	435.2
Operating income	42.6	35.7	131.2	98
Other income (expense):
Interest income	0.3	0.1	0.5	0.3
Other	0.2	(0.3)		1.1
Total other income (expense):	0.5	(0.2)	0.5	1.4
Income before income tax	43.1	35.5	131.7	99.4
Income tax provision	10.5	14.1	42.1	37.9
Net income	$ 32.6	$ 21.4	$ 89.6	$ 61.5
Earnings per share:
Basic	$ 0.46	$ 0.30	$ 1.28	$ 0.85
Diluted	$ 0.44	$ 0.29	$ 1.22	$ 0.82
Weighted average shares outstanding:
Basic	70.9	70.7	70.1	72
Diluted	73.5	73.9	73.2	75.1

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 32.6	$ 21.4	$ 89.6	$ 61.5
Unrealized gain (loss) on available-for-sale securities, net of tax	0.3		0.2	(0.3)
Change in foreign currency translation adjustment, net of tax	0.5	(3.3)	(1.5)	(5.7)
Comprehensive income	$ 33.4	$ 18.1	$ 88.3	$ 55.5

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 89.6	$ 61.5
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	20	18.4
Loss (gain) on disposition of assets	(0.4)	0.1
Share-based compensation expense	23.9	31.6
Bad debt expense	23.5	23.5
Deferred income taxes	31.5	(1)
Unrecognized tax benefits	(2.4)	1.9
Excess tax benefit from share-based compensation	(17.9)	(3.2)
Changes in assets and liabilities:
Prepaid expenses	(8.7)	(3)
Trade accounts receivable	(28.7)	(32.2)
Other receivables	(1)	0.9
Inventory	(0.2)	(4.9)
Prepaid taxes	(15.3)	13.6
Accounts payable	(6.9)	(6.4)
Accrued liabilities	2.9	(11.5)
Deferred revenue		0.2
Net cash provided by operating activities	109.9	89.5
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(2.8)	(21.9)
Acquisitions, net of cash acquired		(20.1)
Purchases of marketable investment securities	(131.4)	(55.1)
Proceeds from maturities and sales of marketable investment securities	86.6	140.8
Net cash provided by (used in) investing activities	(47.6)	43.7
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from common stock issued under share-based compensation plans	85.9	25.6
Excess tax benefit from share-based compensation	17.9	3.2
Repurchase and retirement of common stock	(107.9)	(165.9)
Net cash used in financing activities	(4.1)	(137.1)
Effect of foreign exchange rates on cash and cash equivalents	(1.8)	(5.7)
Net increase (decrease) in cash and cash equivalents	56.4	(9.6)
Cash and cash equivalents at beginning of the period	64.1	64.8
Cash and cash equivalents at end of the period	$ 120.5	$ 55.2

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	(1) BASIS OF PRESENTATION The accompanying condensed consolidated financial statements have been prepared by Myriad Genetics, Inc. (the “Company”) 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”). The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. 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 for the fiscal year ended June 30, 2015, included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015. Operating results for the three and nine months ended March 31, 2016 may not necessarily be indicative of results to be expected for any other interim period or for the full year. The preparation of financial statements in conformity with U.S. 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. Actual results could differ from those estimates. New Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 will be effective beginning in the first quarter of 2019. Early adoption of ASU 2016-02 is permitted. ASU 2016-02 requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company’s management is currently evaluating the impact of adopting ASU 2016-02 on the Company’s consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation—Stock Compensation (Topic 718). (“ASU 2016-09”), ASU 2016-09 makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. ASU 2016-09 is effective for interim and annual reporting periods beginning after December 15, 2016, although early adoption is permitted. The Company’s management is currently evaluating how the adoption of ASU 2016-09 will impact the Company’s Consolidated Financial Statements.

Acquisitions

Acquisitions	9 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisitions	(2) ACQUISITIONS German Clinic On February 27, 2015, the Company completed the acquisition of privately-held Privatklinik Dr. Robert Schindlbeck GmbH & Co. KG (the “Clinic”) approximately 15 miles from the Company’s European laboratories in Munich, Germany. The cash paid and total consideration transferred to acquire the Clinic was $20.1. Total consideration transferred was allocated to tangible assets acquired and liabilities assumed based on their fair values at the acquisition date as set forth below. The Company believes acquisition of the Clinic should facilitate the Company’s penetration into the German molecular diagnostic market. The Clinic will allow the Company to directly negotiate reimbursement with government and private insurance providers for its tests in the German market and collaborate with hospitals and physician groups. These factors contributed to consideration transferred in excess of the fair value of the Clinic’s net tangible and intangible assets acquired, resulting in the Company recording goodwill in connection with the transaction. Under German tax law the goodwill related to the purchase of the clinic is deductible and will be amortized for tax purposes over 15 years. Management estimated the fair value of tangible and intangible assets and liabilities in accordance with the applicable accounting guidance for business combinations and utilized the services of third-party valuation consultants. Estimated Fair Current assets $ 3.1 Real property 20.7 Equipment 1.6 Goodwill 8.7 Current liabilities (4.4 ) Long-term liabilities (9.6 ) Total purchase price $ 20.1 During the quarter ended March 31, 2016 there was an adjustment to long-term liabilities. The long-term liabilities increased by approximately $0.6 due to information obtained from the third party actuarial analysis of the pension obligation which increased goodwill by the same amount.

Marketable Investment Securitie

Marketable Investment Securities	9 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Marketable Investment Securities	(3) MARKETABLE INVESTMENT SECURITIES The Company has classified its marketable investment securities as available-for-sale securities. These securities are carried at estimated fair value with unrealized holding gains and losses, net of the related tax effect, included in accumulated other comprehensive loss in stockholders’ equity until realized. Gains and losses on investment security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned. 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, 2016 and June 30, 2015 were as follows: Amortized Gross Gross Estimated At March 31, 2016: Cash and cash equivalents: Cash $ 114.2 $ — $ — $ 114.2 Cash equivalents 6.3 — — 6.3 Total cash and cash equivalents 120.5 — — 120.5 Available-for-sale: Corporate bonds and notes 48.5 0.1 (0.1 ) 48.5 Municipal bonds 80.6 0.2 — 80.8 Federal agency issues 36.5 0.1 — 36.6 Total $ 286.1 $ 0.4 $ (0.1 ) $ 286.4 Amortized Gross Gross Estimated At June 30, 2015: Cash and cash equivalents: Cash $ 54.7 $ — $ — $ 54.7 Cash equivalents 9.4 — — 9.4 Total cash and cash equivalents 64.1 — — 64.1 Available-for-sale: Corporate bonds and notes 41.8 — — 41.8 Municipal bonds 66.3 0.1 (0.1 ) 66.3 Federal agency issues 13.2 — — 13.2 Total $ 185.4 $ 0.1 $ (0.1 ) $ 185.4 Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities are as follows at March 31, 2016: Amortized Estimated Cash $ 114.2 $ 114.2 Cash equivalents 6.3 6.3 Available-for-sale: Due within one year 96.2 96.2 Due after one year through five years 69.4 69.7 Due after five years — — Total $ 286.1 $ 286.4

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	(4) PROPERTY, PLANT AND EQUIPMENT, NET March 31, June 30, Land $ 2.3 $ 2.3 Buildings and improvements 18.8 18.2 Leasehold improvements 18.7 18.5 Equipment 101.9 99.1 141.7 138.1 Less accumulated depreciation (81.7 ) (70.9 ) Property, plant and equipment, net $ 60.0 $ 67.2 Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Depreciation expense 3.5 3.3 10.6 8.8

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	(5) GOODWILL AND INTANGIBLE ASSETS Goodwill The Company has recorded goodwill of $177.9 from the acquisitions of Privatklinik Dr. Robert Schindlbeck GmbH & Co. KG that was completed on February 27, 2015, Crescendo Bioscience, Inc. that was completed on February 28, 2014 and Rules-Based Medicine, Inc. that was completed on May 31, 2011. Of this goodwill, $112.3 relates to the Company’s diagnostic segment and $65.6 relates to the other segment. The following summarizes changes to the goodwill balance for the nine months ended March 31, 2016: Carrying Beginning balance July 1, 2015 $ 177.2 Purchase accounting (see note 2) 0.6 Translation adjustments 0.1 Ending balance March 31, 2016 $ 177.9 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: Gross Accumulated Net At March 31, 2016: Purchased licenses and technologies $ 199.1 $ (25.6 ) $ 173.5 Customer relationships 4.7 (2.2 ) 2.5 Trademarks 3.0 (0.6 ) 2.4 Total amortized intangible assets 206.8 (28.4 ) 178.4 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 211.6 $ (28.4 ) $ 183.2 Gross Accumulated Net At June 30, 2015: Purchased licenses and technologies $ 199.1 $ (16.7 ) $ 182.4 Customer relationships 4.7 (1.9 ) 2.8 Trademarks 3.0 (0.4 ) 2.6 Total amortized intangible assets 206.8 (19.0 ) 187.8 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 211.6 $ (19.0 ) $ 192.6 The Company recorded amortization expense during the respective periods for these intangible assets as follows: Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Amortization of intangible assets 3.1 3.1 9.4 9.6

Cost Basis Investment

Cost Basis Investment	9 Months Ended
	Mar. 31, 2016
Investments, All Other Investments [Abstract]
Cost Basis Investment	(6) COST BASIS INVESTMENT As of March 31, 2016, the Company had a $5.0 investment in RainDance Technologies, Inc., which has been recorded under the cost method as an “Other Asset” on the Company’s condensed consolidated balance sheet. There were no events or circumstances that indicated that impairment exists; therefore, the Company recorded no impairment in the investment for the nine months ended March 31, 2016.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Accrued Liabilities	(7) ACCRUED LIABILITIES March 31, June 30, Employee compensation and benefits $ 39.7 $ 33.8 Accrued taxes payable 2.3 3.8 Other 8.8 8.5 Total Accrued liabilities $ 50.8 $ 46.1

Other Long Term Liabilities

Other Long Term Liabilities	9 Months Ended
	Mar. 31, 2016
Other Liabilities Disclosure [Abstract]
Other Long Term Liabilities	(8) OTHER LONG TERM LIABILITIES March 31, June 30, 2016 2015 Pension obligation $ 5.7 $ 4.9 Other 2.0 3.9 Total other long term liabilities $ 7.7 $ 8.8 The Company has two non-contributory defined benefit pension plans for its current and former Clinic employees. Participation in the plans was closed to exclude those employees hired after 2002. As of March 31, 2016 the fair value of the plan assets were approximately $0.1 resulting in a net pension liability of $5.7.

Preferred and Common Stockholde

Preferred and Common Stockholder's Equity	9 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Preferred and Common Stockholder's Equity	(9) PREFERRED AND COMMON STOCKHOLDER’S EQUITY The Company is authorized to issue up to 5.0 shares of preferred stock, par value $0.01 per share. There were no preferred shares outstanding at March 31, 2016. The Company is authorized to issue up to 150.0 shares of common stock, par value $0.01 per share. There were 70.4 shares issued and outstanding at March 31, 2016. Common shares issued and outstanding Nine months ended March 31, 2016 2015 Common stock issued and outstanding at July 1 68.9 73.5 Common stock issued upon exercise of options and employee stock plans 4.4 1.2 Repurchase and retirement of common stock (2.9 ) (4.7 ) Common stock issued and outstanding at March 31 70.4 70.0 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. The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations: Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Denominator: Weighted-average shares outstanding used to compute basic EPS 70.9 70.7 70.1 72.0 Effect of dilutive shares 2.6 3.2 3.1 3.1 Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 73.5 73.9 73.2 75.1 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 March 31, Nine months ended March 31, 2016 2015 2016 2015 Anti-dilutive options and RSU’s excluded from EPS computation 0.1 0.1 — — Stock Repurchase Program In February 2015, the Company’s Board of Directors authorized a seventh share repurchase program of $200.0 of the Company’s outstanding common stock. The Company plans to repurchase its 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, 2016, the Company has $47.0 remaining on its current share repurchase authorization. The Company uses the par value method of accounting for its stock repurchases. As a result of the stock repurchases, the Company reduced common stock and additional paid-in capital and recorded charges to accumulated deficit. The shares retired, aggregate common stock and additional paid-in capital reductions, and related charges to accumulated deficit for the repurchases for periods ended March 31, 2016 and 2015 were as follows: Three months ended March 31, Nine months ended 2016 2015 2016 2015 Shares purchased and retired 1.2 1.8 2.9 4.7 Common stock and additional paid-in-capital reductions $ 11.2 $ 15.2 $ 26.0 $ 40.2 Charges to retained earnings $ 33.3 $ 46.8 $ 81.9 $ 125.8

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	(10) 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 expense for the three months ended March 31, 2016 was $10.5, or approximately 24% of pre-tax income, compared to $14.1, or approximately 40% of pre-tax income, for the three months ended March 31, 2015. Income tax expense for the nine months ended March 31, 2016 was $42.1, or approximately 32% of pre-tax income, compared to $37.9, or approximately 38% of pre-tax income, for the nine months ended March 31, 2015. Income tax expense for the three and nine months ended March 31, 2016 is based on the Company’s estimated annual effective tax rate for the full fiscal year ending June 30, 2016, adjusted by discrete items recognized during the period. For the three and nine months ended March 31, 2016, the Company’s recognized effective tax rate differs from the U.S. federal statutory rate of 35% primarily due to the effect of state income taxes, changes in uncertain tax benefits and valuation allowances related to historic tax credits, the federal research tax credit, the sourcing of foreign losses and the benefits realized from the differences related to the earlier recognition of the tax effect of equity compensation expense from incentive stock options and the deduction realized when those options are disqualified upon exercise and sale. The Company files U.S., foreign and state income tax returns in jurisdictions with various statutes of limitations. The Company is currently under audit by the IRS for the fiscal year ended June 30, 2014, the State of New Jersey for the fiscal years June 30, 2007 through 2013 and the State of New York for the fiscal years June 30, 2014 through 2015. Annual and interim tax provisions include amounts considered necessary to pay assessments that may result from examination of prior year tax returns; however, the amount ultimately paid upon resolution of issues may differ materially from the amount accrued. Pursuant to the guidelines of the recently issued Accounting Standards Update 2015-17 (“the Update”), all deferred tax assets and liabilities are to be classified as non-current. The effective date of the Update for public companies is for annual periods beginning after December 15, 2016 and later dates for all other entities. Early adoption is permitted. To comply with the guidance, the Company elected to adopt this Update for the quarter ended December 31, 2015 and the annual period ending June 30, 2016. The guidance indicates that the Update may be applied either prospectively or retrospectively. The Company chose to apply the Update prospectively. Accordingly, no prior periods were adjusted. During the quarter ended December 31, 2015, approximately $13.5 of net current deferred tax assets were reclassified to non-current and netted against non-current deferred tax liabilities.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	(11) SHARE-BASED COMPENSATION The Company maintains a share-based compensation plan, the 2010 Employee, Director and Consultant Equity Incentive Plan, as amended (the “2010 Plan”), that has been approved by the Company’s shareholders. The 2010 Plan allows the Company, under the direction of the Compensation Committee of the Board of Directors, to make grants of stock options, restricted and unrestricted stock awards and other stock-based awards to employees, consultants and directors. On December 3, 2015, the shareholders approved an amendment to the 2010 Plan to add 1.6 to the number of shares of common stock available for grant. At March 31, 2016, 2.3 shares of common stock were available for issuance. If an option or RSU issued or awarded under the 2010 Plan is cancelled or expires without the issuance of shares of common stock, the unissued or reacquired shares, which were subject to the option or RSU, shall again be available for issuance pursuant to the 2010 Plan. In addition, as of March 31, 2016, the Company may grant up to 2.5 additional shares of common stock under the 2010 Plan if options previously granted under the Company’s terminated 2003 Employee, Director and Consultant Option Plan are cancelled or expire without the issuance of shares of common stock by the Company. The number of shares, terms, and vesting period of awards under the 2010 Plan are determined by the Compensation Committee of the Board of Directors for each equity award. Stock options granted under the plan prior to December 5, 2012 generally vest ratably over four years and expire ten years from the grant date. Stock options granted after December 5, 2012 generally vest ratably over four years and expire eight years from the grant date. The exercise price of options granted is equivalent to the fair market value of the stock on the grant date. In September 2014, in lieu of stock options, the Company began issuing restricted stock units (“RSUs”) to employees and directors which generally vest ratably over four years on the anniversary date of the grant. Beginning in fiscal 2016, RSUs issued will generally vest ratably over four years from the last day of the month in which the RSU award is granted. The number of RSUs awarded to certain executive officers may be reduced if certain additional financial performance metrics are not met. Stock Options A summary of the stock option activity under the Company’s plans for the nine months ended March 31, 2016 is as follows: Number Weighted Options outstanding at June 30, 2015 12.5 $ 23.49 Options granted — $ — Less: Options exercised (4.1 ) $ 21.39 Options canceled or expired — $ — Options outstanding at March 31, 2016 8.4 $ 24.51 Options exercisable at March 31, 2016 6.9 $ 24.02 As of March 31, 2016, there was $8.6 of total unrecognized share-based compensation expense related to stock options that will be recognized over a weighted-average period of 1.16 years. Restricted Stock Units A summary of the RSU activity under the Company’s plans for the nine months ended March 31, 2016 is as follows: Number Weighted RSUs outstanding at June 30, 2015 1.0 $ 37.63 RSUs granted 0.8 $ 40.66 Less: RSUs vested (0.4 ) $ 39.74 RSUs canceled — $ — RSUs outstanding at March 31, 2016 1.4 $ 38.78 As of March 31, 2016, there was $35.0 of total unrecognized share-based compensation expense related to RSUs that will be recognized over a weighted-average period of 2.54 years. This unrecognized compensation expense is equal to the fair value of RSUs expected to vest. Employee Stock Purchase Plan The Company also has an Employee Stock Purchase Plan that was approved by shareholders in 2012 (the “2012 Purchase Plan”), under which 2.0 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, 2016, approximately 0.7 shares of common stock have been issued under the 2012 Purchase Plan. Share-Based Compensation Expense Share-based compensation expense recognized and included in the condensed consolidated statements of income and comprehensive income was allocated as follows: Three months ended March 31, Nine months ended 2016 2015 2016 2015 Cost of molecular diagnostic testing $ 0.2 $ 0.2 $ 0.7 $ 0.7 Cost of pharmaceutical and clinical services 0.1 0.1 0.3 0.4 Research and development expense 1.3 1.2 4.1 3.2 Selling, general, and administrative expense 6.0 11.0 18.8 27.3 Total share-based compensation expense $ 7.6 $ 12.5 $ 23.9 $ 31.6

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	(12) 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. The Company reviews, tests and validates this information. The following table sets forth the fair value of the financial assets that the Company re-measures on a regular basis: Level 1 Level 2 Level 3 Total at March 31, 2016 Money market funds (a) $ 6.3 $ — $ — $ 6.3 Corporate bonds and notes — 48.5 — 48.5 Municipal bonds — 80.8 — 80.8 Federal agency issues — 36.6 — 36.6 Total $ 6.3 $ 165.9 $ — $ 172.2 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest Level 1 Level 2 Level 3 Total at June 30, 2015 Money market funds (a) $ 2.4 $ — $ — $ 2.4 Corporate bonds and notes — 44.8 — 44.8 Municipal bonds — 70.3 — 70.3 Federal agency issues — 13.2 — 13.2 Total $ 2.4 $ 128.3 $ — $ 130.7 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitment and Contingencies	(13) COMMITMENTS AND CONTINGENCIES The 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, 2016, the management of the Company believes any liability that may ultimately result from the resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, operating results, or cash flows.

Employee Deferred Savings Plan

Employee Deferred Savings Plan	9 Months Ended
	Mar. 31, 2016
Postemployment Benefits [Abstract]
Employee Deferred Savings Plan	(14) EMPLOYEE DEFERRED SAVINGS PLAN The Company has a deferred savings plan which qualifies under Section 401(k) of the Internal Revenue Code. Substantially all of the Company’s U.S. employees are covered by the plan. The Company makes matching contributions of 50% of each employee’s contribution with the employer’s contribution not to exceed 4% of the employee’s compensation. The Company’s recorded contributions to the plan as follows: Three months ended March 31, Nine months ended 2016 2015 2016 2015 Deferred savings plan contributions $ 1.4 $ 1.3 $ 4.1 $ 3.8

Segment and Related Information

Segment and Related Information	9 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment and Related Information	(15) SEGMENT AND RELATED INFORMATION The Company’s business units have been aligned with how the Chief Operating Decision Maker (“CODM”) 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. The prior periods presented have been restated to conform to the current presentation. Segment revenue and operating income (loss) were as follows during the periods presented: Diagnostics Other Total Three months ended March 31, 2016 Revenues $ 177.4 $ 13.1 $ 190.5 Depreciation and amortization 5.4 1.2 6.6 Segment operating income (loss) 59.2 (16.6 ) 42.6 Three months ended March 31, 2015 Revenues $ 173.0 $ 7.0 $ 180.0 Depreciation and amortization 5.2 1.2 6.4 Segment operating income (loss) 55.2 (19.5 ) 35.7 Nine months ended March 31, 2016 Revenues $ 532.0 $ 35.4 $ 567.4 Depreciation and amortization 16.2 3.8 20.0 Segment operating income (loss) 186.3 (55.1 ) 131.2 Nine months ended March 31, 2015 Revenues $ 516.6 $ 16.6 $ 533.2 Depreciation and amortization 15.2 3.2 18.4 Segment operating income (loss) 159.3 (61.3 ) 98.0 Three months ended March 31, Nine months ended 2016 2015 2016 2015 Total operating income for reportable segments $ 42.6 $ 35.7 $ 131.2 $ 98.0 Unallocated amounts: Interest income 0.3 0.1 0.5 0.3 Other 0.2 (0.3 ) — 1.1 Income from operations before income taxes 43.1 35.5 131.7 99.4 Income tax provision 10.5 14.1 42.1 37.9 Net income $ 32.6 $ 21.4 $ 89.6 $ 61.5

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	(16) SUPPLEMENTAL CASH FLOW INFORMATION Nine months ended 2016 2015 Cash paid during the period for income taxes $ 28.5 $ 22.7 Non-cash investing and financing activities: Fair value adjustment on marketable investment securities recorded to stockholders’ equity $ 0.2 $ (0.3 )

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements have been prepared by Myriad Genetics, Inc. (the “Company”) 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”). The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. 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 for the fiscal year ended June 30, 2015, included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015. Operating results for the three and nine months ended March 31, 2016 may not necessarily be indicative of results to be expected for any other interim period or for the full year. The preparation of financial statements in conformity with U.S. 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. Actual results could differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (“ASU 2016-02”). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU 2016-02 will be effective beginning in the first quarter of 2019. Early adoption of ASU 2016-02 is permitted. ASU 2016-02 requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company’s management is currently evaluating the impact of adopting ASU 2016-02 on the Company’s consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation—Stock Compensation (Topic 718). (“ASU 2016-09”), ASU 2016-09 makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. ASU 2016-09 is effective for interim and annual reporting periods beginning after December 15, 2016, although early adoption is permitted. The Company’s management is currently evaluating how the adoption of ASU 2016-09 will impact the Company’s Consolidated Financial Statements.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Allocation of Consideration Transferred	Management estimated the fair value of tangible and intangible assets and liabilities in accordance with the applicable accounting guidance for business combinations and utilized the services of third-party valuation consultants. Estimated Fair Current assets $ 3.1 Real property 20.7 Equipment 1.6 Goodwill 8.7 Current liabilities (4.4 ) Long-term liabilities (9.6 ) Total purchase price $ 20.1

Marketable Investment Securit25

Marketable Investment Securities (Tables)	9 Months Ended
	Mar. 31, 2016
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, 2016 and June 30, 2015 were as follows: Amortized Gross Gross Estimated At March 31, 2016: Cash and cash equivalents: Cash $ 114.2 $ — $ — $ 114.2 Cash equivalents 6.3 — — 6.3 Total cash and cash equivalents 120.5 — — 120.5 Available-for-sale: Corporate bonds and notes 48.5 0.1 (0.1 ) 48.5 Municipal bonds 80.6 0.2 — 80.8 Federal agency issues 36.5 0.1 — 36.6 Total $ 286.1 $ 0.4 $ (0.1 ) $ 286.4 Amortized Gross Gross Estimated At June 30, 2015: Cash and cash equivalents: Cash $ 54.7 $ — $ — $ 54.7 Cash equivalents 9.4 — — 9.4 Total cash and cash equivalents 64.1 — — 64.1 Available-for-sale: Corporate bonds and notes 41.8 — — 41.8 Municipal bonds 66.3 0.1 (0.1 ) 66.3 Federal agency issues 13.2 — — 13.2 Total $ 185.4 $ 0.1 $ (0.1 ) $ 185.4
Schedule of Maturities of Debt Securities Classified as Cash Equivalents and Available-For-Sale Securities	Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities are as follows at March 31, 2016: Amortized Estimated Cash $ 114.2 $ 114.2 Cash equivalents 6.3 6.3 Available-for-sale: Due within one year 96.2 96.2 Due after one year through five years 69.4 69.7 Due after five years — — Total $ 286.1 $ 286.4

Property, Plant and Equipment26

Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	March 31, June 30, Land $ 2.3 $ 2.3 Buildings and improvements 18.8 18.2 Leasehold improvements 18.7 18.5 Equipment 101.9 99.1 141.7 138.1 Less accumulated depreciation (81.7 ) (70.9 ) Property, plant and equipment, net $ 60.0 $ 67.2 Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Depreciation expense 3.5 3.3 10.6 8.8

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The following summarizes changes to the goodwill balance for the nine months ended March 31, 2016: Carrying Beginning balance July 1, 2015 $ 177.2 Purchase accounting (see note 2) 0.6 Translation adjustments 0.1 Ending balance March 31, 2016 $ 177.9
Summarized Amounts Reported as Intangible Assets	The following summarizes the amounts reported as intangible assets: Gross Accumulated Net At March 31, 2016: Purchased licenses and technologies $ 199.1 $ (25.6 ) $ 173.5 Customer relationships 4.7 (2.2 ) 2.5 Trademarks 3.0 (0.6 ) 2.4 Total amortized intangible assets 206.8 (28.4 ) 178.4 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 211.6 $ (28.4 ) $ 183.2 Gross Accumulated Net At June 30, 2015: Purchased licenses and technologies $ 199.1 $ (16.7 ) $ 182.4 Customer relationships 4.7 (1.9 ) 2.8 Trademarks 3.0 (0.4 ) 2.6 Total amortized intangible assets 206.8 (19.0 ) 187.8 In-process research and development 4.8 — 4.8 Total unamortized intangible assets 4.8 — 4.8 Total intangible assets $ 211.6 $ (19.0 ) $ 192.6
Amortization for Intangible Assets	The Company recorded amortization expense during the respective periods for these intangible assets as follows: Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Amortization of intangible assets 3.1 3.1 9.4 9.6

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Summary of Accrued Liabilities	March 31, June 30, Employee compensation and benefits $ 39.7 $ 33.8 Accrued taxes payable 2.3 3.8 Other 8.8 8.5 Total Accrued liabilities $ 50.8 $ 46.1

Other Long Term Liabilities (Ta

Other Long Term Liabilities (Tables)	9 Months Ended
	Mar. 31, 2016
Other Liabilities Disclosure [Abstract]
Summary of Other Long Term Liabilities	March 31, June 30, 2016 2015 Pension obligation $ 5.7 $ 4.9 Other 2.0 3.9 Total other long term liabilities $ 7.7 $ 8.8

Preferred and Common Stockhol30

Preferred and Common Stockholder's Equity (Tables)	9 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Summary of Common Shares Issued and Outstanding	Common shares issued and outstanding Nine months ended March 31, 2016 2015 Common stock issued and outstanding at July 1 68.9 73.5 Common stock issued upon exercise of options and employee stock plans 4.4 1.2 Repurchase and retirement of common stock (2.9 ) (4.7 ) Common stock issued and outstanding at March 31 70.4 70.0
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 March 31, Nine months ended March 31, 2016 2015 2016 2015 Denominator: Weighted-average shares outstanding used to compute basic EPS 70.9 70.7 70.1 72.0 Effect of dilutive shares 2.6 3.2 3.1 3.1 Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 73.5 73.9 73.2 75.1
Schedule of Anti-Dilutive Options and Restricted Stock Units Excluded from EPS Computation	These potential dilutive common shares, which may be dilutive to future diluted earnings per share, are as follows: Three months ended March 31, Nine months ended March 31, 2016 2015 2016 2015 Anti-dilutive options and RSU’s excluded from EPS computation 0.1 0.1 — —
Schedule of Stock Repurchases	The shares retired, aggregate common stock and additional paid-in capital reductions, and related charges to accumulated deficit for the repurchases for periods ended March 31, 2016 and 2015 were as follows: Three months ended March 31, Nine months ended 2016 2015 2016 2015 Shares purchased and retired 1.2 1.8 2.9 4.7 Common stock and additional paid-in-capital reductions $ 11.2 $ 15.2 $ 26.0 $ 40.2 Charges to retained earnings $ 33.3 $ 46.8 $ 81.9 $ 125.8

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-Based Compensation Arrangement by Share Based Payment Award Options Outstanding	A summary of the stock option activity under the Company’s plans for the nine months ended March 31, 2016 is as follows: Number Weighted Options outstanding at June 30, 2015 12.5 $ 23.49 Options granted — $ — Less: Options exercised (4.1 ) $ 21.39 Options canceled or expired — $ — Options outstanding at March 31, 2016 8.4 $ 24.51 Options exercisable at March 31, 2016 6.9 $ 24.02
Schedule of Share-Based Compensation Arrangement by Share Based Payment Award Restricted Stock Units Outstanding	A summary of the RSU activity under the Company’s plans for the nine months ended March 31, 2016 is as follows: Number Weighted RSUs outstanding at June 30, 2015 1.0 $ 37.63 RSUs granted 0.8 $ 40.66 Less: RSUs vested (0.4 ) $ 39.74 RSUs canceled — $ — RSUs outstanding at March 31, 2016 1.4 $ 38.78
Schedule of Share-Based Compensation Recognized in Consolidated Statements of Operations	Share-based compensation expense recognized and included in the condensed consolidated statements of income and comprehensive income was allocated as follows: Three months ended March 31, Nine months ended 2016 2015 2016 2015 Cost of molecular diagnostic testing $ 0.2 $ 0.2 $ 0.7 $ 0.7 Cost of pharmaceutical and clinical services 0.1 0.1 0.3 0.4 Research and development expense 1.3 1.2 4.1 3.2 Selling, general, and administrative expense 6.0 11.0 18.8 27.3 Total share-based compensation expense $ 7.6 $ 12.5 $ 23.9 $ 31.6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets	The following table sets forth the fair value of the financial assets that the Company re-measures on a regular basis: Level 1 Level 2 Level 3 Total at March 31, 2016 Money market funds (a) $ 6.3 $ — $ — $ 6.3 Corporate bonds and notes — 48.5 — 48.5 Municipal bonds — 80.8 — 80.8 Federal agency issues — 36.6 — 36.6 Total $ 6.3 $ 165.9 $ — $ 172.2 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest Level 1 Level 2 Level 3 Total at June 30, 2015 Money market funds (a) $ 2.4 $ — $ — $ 2.4 Corporate bonds and notes — 44.8 — 44.8 Municipal bonds — 70.3 — 70.3 Federal agency issues — 13.2 — 13.2 Total $ 2.4 $ 128.3 $ — $ 130.7 (a) Money market funds are primarily comprised of exchange traded funds and accrued interest

Employee Deferred Savings Plan

Employee Deferred Savings Plan (Tables)	9 Months Ended
	Mar. 31, 2016
Postemployment Benefits [Abstract]
Recorded Contributions to Employee Deferred Savings Plan	The Company’s recorded contributions to the plan as follows: Three months ended March 31, Nine months ended 2016 2015 2016 2015 Deferred savings plan contributions $ 1.4 $ 1.3 $ 4.1 $ 3.8

Segment and Related Informati34

Segment and Related Information (Tables)	9 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Performance Based on Income (Loss) before Interest Income and Other Income and Expense	Segment revenue and operating income (loss) were as follows during the periods presented: Diagnostics Other Total Three months ended March 31, 2016 Revenues $ 177.4 $ 13.1 $ 190.5 Depreciation and amortization 5.4 1.2 6.6 Segment operating income (loss) 59.2 (16.6 ) 42.6 Three months ended March 31, 2015 Revenues $ 173.0 $ 7.0 $ 180.0 Depreciation and amortization 5.2 1.2 6.4 Segment operating income (loss) 55.2 (19.5 ) 35.7 Nine months ended March 31, 2016 Revenues $ 532.0 $ 35.4 $ 567.4 Depreciation and amortization 16.2 3.8 20.0 Segment operating income (loss) 186.3 (55.1 ) 131.2 Nine months ended March 31, 2015 Revenues $ 516.6 $ 16.6 $ 533.2 Depreciation and amortization 15.2 3.2 18.4 Segment operating income (loss) 159.3 (61.3 ) 98.0 Three months ended March 31, Nine months ended 2016 2015 2016 2015 Total operating income for reportable segments $ 42.6 $ 35.7 $ 131.2 $ 98.0 Unallocated amounts: Interest income 0.3 0.1 0.5 0.3 Other 0.2 (0.3 ) — 1.1 Income from operations before income taxes 43.1 35.5 131.7 99.4 Income tax provision 10.5 14.1 42.1 37.9 Net income $ 32.6 $ 21.4 $ 89.6 $ 61.5

Supplemental Cash Flow Inform35

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Nine months ended 2016 2015 Cash paid during the period for income taxes $ 28.5 $ 22.7 Non-cash investing and financing activities: Fair value adjustment on marketable investment securities recorded to stockholders’ equity $ 0.2 $ (0.3 )

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Millions	Feb. 27, 2015	Mar. 31, 2016	Mar. 31, 2016
Business Acquisition [Line Items]
Increase in long-term liabilities		$ 0.6
Increase in goodwill		$ 0.6
German Clinic [Member]
Business Acquisition [Line Items]
Total consideration transferred	$ 20.1
Intangible asset amortization period for income tax purposes			15 years

Acquisitions - Allocation of Co

Acquisitions - Allocation of Consideration Transferred (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015	Feb. 27, 2015
Business Acquisition [Line Items]
Goodwill	$ 177.9	$ 177.2
German Clinic [Member]
Business Acquisition [Line Items]
Current assets			$ 3.1
Real property			20.7
Equipment			1.6
Goodwill			8.7
Current liabilities			(4.4)
Long-term liabilities			(9.6)
Total purchase price			$ 20.1

Marketable Investment Securit38

Marketable Investment Securities - Schedule of Fair Value for Available-for-Sale Securities by Major Security Type and Class of Security (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 120.5	$ 64.1	$ 55.2	$ 64.8
Gross unrealized holding gains	0.4	0.1
Gross unrealized holding losses	(0.1)	(0.1)
Amortized cost	286.1	185.4
Estimated fair value	286.4	185.4
Corporate Bonds and Notes
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	48.5	41.8
Gross unrealized holding gains	0.1
Gross unrealized holding losses	(0.1)
Estimated fair value	48.5	41.8
Municipal Bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	80.6	66.3
Gross unrealized holding gains	0.2	0.1
Gross unrealized holding losses		(0.1)
Estimated fair value	80.8	66.3
Federal Agency Issues
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	36.5	13.2
Gross unrealized holding gains	0.1
Estimated fair value	36.6	13.2
Cash
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	114.2	54.7
Estimated fair value	114.2	54.7
Cash Equivalents
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	6.3	9.4
Estimated fair value	6.3	9.4
Total Cash and Cash Equivalents
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	120.5	64.1
Estimated fair value	$ 120.5	$ 64.1

Marketable Investment Securit39

Marketable Investment Securities - Schedule of Maturities of Debt Securities Classified as Cash Equivalents and Available-For-Sale Securities (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014
Schedule of Available-for-sale Securities [Line Items]
Cash equivalents, Amortized cost	$ 120.5	$ 64.1	$ 55.2	$ 64.8
Due within one year, Amortized cost	96.2
Due after one year through five years, Amortized cost	69.4
Due after five years, Amortized cost	0
Total	286.1	185.4
Due within one year, Estimated fair value	96.2
Due after one year through five years, Estimated fair value	69.7
Due after five years, Estimated fair value	0
Total	286.4	185.4
Cash
Schedule of Available-for-sale Securities [Line Items]
Cash equivalents, Amortized cost	114.2	54.7
Cash equivalents, Estimated fair value	114.2	54.7
Cash Equivalents
Schedule of Available-for-sale Securities [Line Items]
Cash equivalents, Amortized cost	6.3	9.4
Cash equivalents, Estimated fair value	$ 6.3	$ 9.4

Property, Plant and Equipment40

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Land	$ 2.3	$ 2.3
Buildings and improvements	18.8	18.2
Leasehold improvements	18.7	18.5
Equipment	101.9	99.1
Gross property, plant and equipment	141.7	138.1
Less accumulated depreciation	(81.7)	(70.9)
Property, plant and equipment, net	$ 60	$ 67.2

Property, Plant and Equipment41

Property, Plant and Equipment, Net - Schedule of Depreciation Expense (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3.5	$ 3.3	$ 10.6	$ 8.8

Goodwill and Intangible Asset42

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 177.9	$ 177.2
Diagnostics
Goodwill And Intangible Assets [Line Items]
Goodwill	112.3
Other
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 65.6

Goodwill and Intangible Asset43

Goodwill and Intangible Assets - Summary of Changes to Goodwill Balance (Detail) $ in Millions	9 Months Ended
	Mar. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance	$ 177.2
Purchase accounting (see note 2)	0.6
Translation adjustments	0.1
Ending balance	$ 177.9

Goodwill and Intangible Asset44

Goodwill and Intangible Assets - Summarized Amounts Reported as Intangible Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	$ 206.8	$ 206.8
Gross Carrying Amount, total intangible assets	211.6	211.6
Accumulated Amortization	(28.4)	(19)
Net, amortizable intangible assets	178.4	187.8
Net, total intangible assets	183.2	192.6
Net, non-amortizable intangible assets	4.8	4.8
In-Process Research and Development
Intangible Assets [Line Items]
Net, non-amortizable intangible assets	4.8	4.8
Purchased Licenses and Technologies
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	199.1	199.1
Accumulated Amortization	(25.6)	(16.7)
Net, amortizable intangible assets	173.5	182.4
Customer Relationships
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	4.7	4.7
Accumulated Amortization	(2.2)	(1.9)
Net, amortizable intangible assets	2.5	2.8
Trademarks
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	3	3
Accumulated Amortization	(0.6)	(0.4)
Net, amortizable intangible assets	$ 2.4	$ 2.6

Goodwill and Intangible Asset45

Goodwill and Intangible Assets - Amortization on Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 3.1	$ 3.1	$ 9.4	$ 9.6

Cost Basis Investment - Additio

Cost Basis Investment - Additional Information (Detail) - RainDance	9 Months Ended
	Mar. 31, 2016USD ($)
Schedule of Cost-method Investments [Line Items]
Investment accounted under cost method	$ 5,000,000
Impairment on investment	$ 0

Accrued Liabilities - Summary o

Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 39.7	$ 33.8
Accrued taxes payable	2.3	3.8
Other	8.8	8.5
Total Accrued liabilities	$ 50.8	$ 46.1

Other Long Term Liabilities - S

Other Long Term Liabilities - Summary of Other Long Term Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Pension obligation	$ 5.7	$ 4.9
Other	2	3.9
Total other long term liabilities	$ 7.7	$ 8.8

Other Long Term Liabilities - A

Other Long Term Liabilities - Additional Information (Detail) $ in Millions	Mar. 31, 2016USD ($)plan	Jun. 30, 2015USD ($)
Other Liabilities Disclosure [Abstract]
Number of defined benefit pension plans | plan	2
Fair value of plan assets	$ 0.1
Net pension liability	$ 5.7	$ 4.9

Preferred and Common Stockhol50

Preferred and Common Stockholder's Equity - Additional Information (Detail) - USD ($)	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Feb. 28, 2015	Jun. 30, 2014
Class of Stock [Line Items]
Preferred stock, shares authorized	5,000,000
Preferred stock, par value	$ 0.01
Preferred stock, shares outstanding	0
Common stock, shares authorized	150,000,000
Common stock, par value	$ 0.01
Common stock, shares issued	70,400,000	68,900,000	70,000,000		73,500,000
Common stock, shares outstanding	70,400,000	68,900,000	70,000,000		73,500,000
Share repurchase program, remaining authorized repurchase amount	$ 47,000,000
Seventh Share Repurchase Program
Class of Stock [Line Items]
Share repurchase program, authorized amount				$ 200,000,000

Preferred and Common Stockhol51

Preferred and Common Stockholder's Equity - Summary of Common Shares Issued and Outstanding (Detail) - shares shares in Millions	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity [Abstract]
Common stock issued, Beginning balance	68.9	73.5
Common stock outstanding, Beginning balance	68.9	73.5
Common stock issued upon exercise of options and employee stock plans	4.4	1.2
Repurchase and retirement of common stock	(2.9)	(4.7)
Common stock issued, Ending balance	70.4	70
Common stock outstanding, Ending balance	70.4	70

Preferred and Common Stockhol52

Preferred and Common Stockholder's Equity - Reconciliation of Denominators of Basic and Diluted Earnings Per Share Computations (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Equity [Abstract]
Weighted-average shares outstanding used to compute basic EPS	70.9	70.7	70.1	72
Effect of dilutive shares	2.6	3.2	3.1	3.1
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS	73.5	73.9	73.2	75.1

Preferred and Common Stockhol53

Preferred and Common Stockholder's Equity - Schedule of Anti-Dilutive Options and Restricted Stock Units Excluded from EPS Computation (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity [Abstract]
Anti-dilutive options and RSU's excluded from EPS computation	0.1	0.1

Preferred and Common Stockhol54

Preferred and Common Stockholder's Equity - Schedule of Stock Repurchases (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Stockholders Equity [Line Items]
Shares purchased and retired			2.9	4.7
Common stock and additional paid-in-capital reductions	$ 11.2	$ 15.2	$ 26	$ 40.2
Charges to retained earnings	$ 33.3	$ 46.8	$ 81.9	$ 125.8
Common Stock
Stockholders Equity [Line Items]
Shares purchased and retired	1.2	1.8	2.9	4.7

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income tax expense	$ 10.5	$ 14.1	$ 42.1	$ 37.9
Approximate rate on pre-tax income	24.00%	40.00%	32.00%	38.00%
U.S. federal statutory rate	35.00%		35.00%
Non-current deferred tax assets					$ 13.5

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Sep. 30, 2014	Mar. 31, 2016	Dec. 03, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized share-based compensation cost related to stock options		$ 8.6
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period of share-based compensation vested, years		4 years
Total unrecognized share-based compensation cost, weighted-average period, years		1 year 1 month 28 days
Stock options | Share-based compensation granted after December 5, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expire from date of grant, years		8 years
Stock options | Share-based compensation granted prior to December 5, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expire from date of grant, years		10 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period of share-based compensation vested, years	4 years
Total unrecognized share-based compensation cost, weighted-average period, years		2 years 6 months 15 days
Total unrecognized share-based compensation cost related to RSUs		$ 35
The 2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares approved			1,600,000
Shares reserved for issuance exercise of options		2,300,000
The 2010 Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant		2,500,000
2012 Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares approved		2,000,000
Shares issued under the Plan		700,000

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-Based Compensation Arrangement by Share Based Payment Award Options Outstanding (Detail) shares in Millions	9 Months Ended
	Mar. 31, 2016$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options outstanding at beginning of period, Number of shares | shares	12.5
Options granted, Number of shares | shares	0
Options exercised, Number of shares | shares	(4.1)
Options canceled or expired, Number of shares | shares	0
Options outstanding at end of year, Number of shares | shares	8.4
Options exercisable at end of period, Number of shares | shares	6.9
Options outstanding at beginning of period, Weighted average exercise price | $ / shares	$ 23.49
Options granted, Weighted average exercise price | $ / shares	0
Options exercised, Weighted average exercise price | $ / shares	21.39
Options canceled or expired, Weighted average exercise price | $ / shares	0
Options outstanding at end of year, Weighted average exercise price | $ / shares	24.51
Options exercisable at end of period, Weighted average exercise price | $ / shares	$ 24.02

Share-Based Compensation - Sc58

Share-Based Compensation - Schedule of Share-Based Compensation Arrangement by Share Based Payment Award Restricted Stock Units Outstanding (Detail) - Restricted Stock Units (RSUs) shares in Millions	9 Months Ended
	Mar. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs outstanding at beginning of period, Number of shares | shares	1
RSUs granted, Number of shares | shares	0.8
RSUs vested, Number of shares | shares	(0.4)
RSUs canceled, Number of shares | shares	0
RSUs outstanding at end of period, Number of shares | shares	1.4
RSUs outstanding at beginning of period, Weighted average grant date fair value | $ / shares	$ 37.63
RSUs granted, Weighted average grant date fair value | $ / shares	40.66
RSUs vested, Weighted average grant date fair value | $ / shares	39.74
RSUs canceled, Weighted average grant date fair value | $ / shares	0
RSUs outstanding at end of period, Weighted average grant date fair value | $ / shares	$ 38.78

Share-Based Compensation - Sc59

Share-Based Compensation - Schedule of Share-Based Compensation Recognized in Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 7.6	$ 12.5	$ 23.9	$ 31.6
Molecular Diagnostic Testing Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	0.2	0.2	0.7	0.7
Pharmaceutical and Clinical Services Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	0.1	0.1	0.3	0.4
Research And Development Expense
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	1.3	1.2	4.1	3.2
Selling, General, and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 6	$ 11	$ 18.8	$ 27.3

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Assets (Detail) - USD ($) $ in Millions		Mar. 31, 2016	Jun. 30, 2015
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		$ 172.2	$ 130.7
Money Market Funds
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets	[1]	6.3	2.4
Corporate Bonds and Notes
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		48.5	44.8
Federal Agency Issues
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		36.6	13.2
Level 1
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		6.3	2.4
Level 1 | Money Market Funds
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets	[1]	6.3	2.4
Level 2
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		165.9	128.3
Level 2 | Corporate Bonds and Notes
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		48.5	44.8
Level 2 | Federal Agency Issues
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		36.6	13.2
Municipal Bonds
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		80.8	70.3
Municipal Bonds | Level 2
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		$ 80.8	$ 70.3
[1]	Money market funds are primarily comprised of exchange traded funds and accrued interest

Employee Deferred Savings Pla61

Employee Deferred Savings Plan - Additional Information (Detail)	9 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Percent of employee contribution to deferred savings plan	50.00%
Employer's contribution not to exceed percentage of the employees compensation	4.00%

Employee Deferred Savings Pla62

Employee Deferred Savings Plan - Company's Recorded Contributions To Plan (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Deferred savings plan contributions	$ 1.4	$ 1.3	$ 4.1	$ 3.8

Segment and Related Informati63

Segment and Related Information - Additional Information (Detail)	9 Months Ended
	Mar. 31, 2016Segment
Segment Reporting [Abstract]
Number of reportable segment	2

Segment and Related Informati64

Segment and Related Information - Schedule of Segment Performance Based on Income (Loss) before Interest Income and Other Income and Expense (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Revenues	$ 190.5	$ 180	$ 567.4	$ 533.2
Depreciation and amortization	6.6	6.4	20	18.4
Segment operating income (loss)	42.6	35.7	131.2	98
Diagnostics
Segment Reporting Information [Line Items]
Revenues	177.4	173	532	516.6
Depreciation and amortization	5.4	5.2	16.2	15.2
Segment operating income (loss)	59.2	55.2	186.3	159.3
Other
Segment Reporting Information [Line Items]
Revenues	13.1	7	35.4	16.6
Depreciation and amortization	1.2	1.2	3.8	3.2
Segment operating income (loss)	$ (16.6)	$ (19.5)	$ (55.1)	$ (61.3)

Segment and Related Informati65

Segment and Related Information - Schedule of Total Operating Income for Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting [Abstract]
Total operating income for reportable segments	$ 42.6	$ 35.7	$ 131.2	$ 98
Interest income	0.3	0.1	0.5	0.3
Other	0.2	(0.3)		1.1
Income before income tax	43.1	35.5	131.7	99.4
Income tax provision	10.5	14.1	42.1	37.9
Net income	$ 32.6	$ 21.4	$ 89.6	$ 61.5

Supplemental Cash Flow Inform66

Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Cash paid during the period for income taxes	$ 28.5	$ 22.7
Non-cash investing and financing activities:
Fair value adjustment on marketable investment securities recorded to stockholders' equity	$ 0.2	$ (0.3)