Myriad Genetics (MYGN) 10-Q 8 Feb 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2016	Feb. 02, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		68,091,531

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016
Current assets:
Cash and cash equivalents	$ 108.1	$ 68.5
Marketable investment securities	54.4	90.5
Prepaid expenses	12.1	18.4
Inventory	51.3	38.3
Trade accounts receivable, less allowance for doubtful accounts of $7.8 December 31, 2016 and $6.8 June 30, 2016	107.6	91.7
Prepaid taxes	4.2	3.8
Other receivables	3.9	3.3
Total current assets	341.6	314.5
Property, plant and equipment, net	54.7	58.3
Long-term marketable investment securities	55.5	79.9
Intangibles, net	506.4	227.5
Goodwill	315.4	195.3
Other assets	2.5	5
Total assets	1,276.1	880.5
Current liabilities:
Accounts payable	22.9	21.1
Accrued liabilities	57.7	49.5
Deferred revenue	2.2	1.7
Total current liabilities	82.8	72.3
Unrecognized tax benefits	24.6	24
Other long-term liabilities	8.8	7.8
Contingent consideration	137.1	10.4
Long-term debt	204
Long-term deferred taxes	86.1	17.9
Total liabilities	543.4	132.4
Commitments and contingencies
Stockholders' equity:
Common stock, 68.1 and 69.1 shares outstanding at December 31, 2016 and June 30, 2016 respectively	0.7	0.7
Additional paid-in capital	831.8	830.1
Accumulated other comprehensive loss	(13.9)	(9.5)
Accumulated deficit	(85.7)	(73.2)
Total Myriad Genetics, Inc. stockholders' equity	732.9	748.1
Non-Controlling Interest	(0.2)
Total stockholders' equity	732.7	748.1
Total liabilities and stockholders' equity	$ 1,276.1	$ 880.5

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2016	Jun. 30, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 7.8	$ 6.8
Common stock, shares outstanding	68.1	69.1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Molecular diagnostic testing	$ 183.9	$ 182.6	$ 348.9	$ 354.5
Pharmaceutical and clinical services	12.6	10.7	25	22.3
Total revenue	196.5	193.3	373.9	376.8
Costs and expenses:
Cost of molecular diagnostic testing	37.4	34.1	71.6	65
Cost of pharmaceutical and clinical services	7	6.5	12.7	12.1
Research and development expense	18.6	16.7	38	33.9
Selling, general, and administrative expense	120.3	90.8	232.2	177.3
Total costs and expenses	183.3	148.1	354.5	288.3
Operating income	13.2	45.2	19.4	88.5
Other income (expense):
Interest income	0.3	0.1	0.6	0.2
Interest expense	(2.6)	(0.1)	(3.3)	(0.1)
Other	1.2	(0.2)	(0.6)
Total other income (expense):	(1.1)	(0.2)	(3.3)	0.1
Income before income tax	12.1	45	16.1	88.6
Income tax provision	6.2	7.9	11.4	21.1
Net income	5.9	37.1	4.7	67.5
Net income attributable to non-controlling interest	0	0	0	0
Net income attributable to Myriad Genetics, Inc. stockholders	$ 5.9	$ 37.1	$ 4.7	$ 67.5
Earnings per share:
Basic	$ 0.09	$ 0.53	$ 0.07	$ 0.97
Diluted	$ 0.09	$ 0.50	$ 0.07	$ 0.92
Weighted average shares outstanding:
Basic	68.2	70.5	68.5	69.6
Diluted	68.3	73.8	68.9	73.1

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income attributable to Myriad Genetics, Inc. shareholders	$ 5.9	$ 37.1	$ 4.7	$ 67.5
Unrealized gain (loss) on available-for-sale securities, net of tax	(0.4)	(0.2)	(0.8)	(0.1)
Change in foreign currency translation adjustment, net of tax	(8)	(1.8)	(3.6)	(2)
Comprehensive income (loss)	(2.5)	35.1	0.3	65.4
Comprehensive income attributable to non-controlling interest	0	0	0	0
Comprehensive income (loss) attributable to Myriad Genetics, Inc. shareholders	$ (2.5)	$ 35.1	$ 0.3	$ 65.4

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 4.7	$ 67.5
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	22.1	13.5
Non-cash interest expense	0.3
Gain on disposition of assets	(0.2)	(0.4)
Share-based compensation expense	15.2	16.3
Impairment of cost basis investment	2.5
Bad debt expense	18.1	14.5
Loss on extinguishment of debt	1.3
Deferred income taxes	2.9	29.8
Unrecognized tax benefits	0.6	1.5
Change in fair value of contingent consideration	(3.2)
Changes in assets and liabilities:
Prepaid expenses	8.3	2.8
Trade accounts receivable	(24.4)	(11.1)
Other receivables	(2.4)	(5.3)
Inventory	(10.4)	(4.1)
Prepaid taxes	(0.4)	(38.5)
Accounts payable	(2)	(4.1)
Accrued liabilities	(5)	(0.5)
Deferred revenue	0.5
Net cash provided by operating activities	28.5	81.9
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(3.9)	(2.1)
Acquisitions, net of cash acquired	(216.1)
Purchases of marketable investment securities	(49)	(100.7)
Proceeds from maturities and sales of marketable investment securities	108.9	71.3
Net cash used in investing activities	(160.1)	(31.5)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds for common stock issued under share-based compensation plans	1	84.9
Net proceeds from revolving credit facility	204
Net proceeds from term loan	199
Repayment of term loan	(200)
Fees paid for extinguishment of debt	(0.6)
Repurchase and retirement of common stock	(31.6)	(62.9)
Net cash provided by financing activities	171.8	22
Effect of foreign exchange rates on cash and cash equivalents	(0.7)	(1.8)
Net increase in cash and cash equivalents	39.5	70.6
Cash and cash equivalents at beginning of the period	68.5	64.1
Cash and cash equivalents at end of the period	$ 108.1	$ 134.7

Basis of Presentation

Basis of Presentation	6 Months Ended
	Dec. 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” or “Myriad”) 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, 2016, included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2016. Operating results for the three and six months ended December 31, 2016 may not necessarily be indicative of results to be expected for any other interim period or for the full year. The consolidated financial statements include the accounts of the Company’s majority-owned subsidiary, Assurex Canada, Ltd. which is 85% owned by Assurex Health, Inc. (“Assurex), a wholly owned subsidiary of the Company, and 15% owned by the Centre for Addiction and Mental Health. Assurex Canada, Ltd. is a consolidated subsidiary of Assurex Health, Inc. The value of the non-controlling interest represents the portion of Assurex Canada Ltd.’s profit or loss and net assets that is not held by Assurex Health, Inc. The Company attributes comprehensive income or loss of the subsidiary between the Company and the non-controlling interest based on the respective ownership interest. 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 May 2014, the Financial Accounting Standards Board issued ASU No. 2014-09, “Revenue from Contracts with Customers.” Under the new standard, revenue is recognized at the time a good or service is transferred to a customer for the amount of consideration received for that specific good or service. In July 2015, the FASB voted to defer the effective date by one year to December 15, 2017 for interim and annual reporting periods beginning after that date. Early adoption is permitted for interim and annual periods beginning after the original effective date of December 15, 2016. Companies may use either a full retrospective or a modified retrospective approach to adopt the standard. We are currently evaluating the impact the adoption of this standard will have on our consolidated financial statements.

Acquisitions

Acquisitions	6 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Acquisitions	(2) ACQUISITIONS Assurex On August 31, 2016, the Company completed the acquisition of Assurex, pursuant to the Agreement and Plan of Merger (as amended, the “Merger Agreement”), dated August 3, 2016. Pursuant to the terms of the Merger Agreement, Myriad Merger Sub, Inc., a wholly owned subsidiary of the Company, was merged with and into Assurex, with Assurex continuing as the surviving corporation, and wholly owned subsidiary of Myriad. We acquired Assurex for total consideration of $351.6, net of cash acquired of $5.5, including a cash payment of $216.1, and two potential performance-based milestones totaling $185.0 with a fair value of $130.0. The fair value of the performance-based milestones was determined by using the Monte Carlo method. Of the cash consideration, $19.1 was deposited into an escrow account to fund (i) any post-closing adjustments payable to Myriad based upon differences between the estimated working capital and the actual working capital of Assurex at closing, and (ii) any indemnification claims made by Myriad against Assurex within 18 months following closing. Total consideration transferred was allocated to tangible assets acquired and liabilities assumed based on their fair values as of the acquisition date including current adjustments as set forth below. We believe the acquisition establishes the foundation for our neuroscience business and leverages our existing preventative care business unit with the addition of a product, GeneSight, which has growth potential. These factors contributed to consideration transferred in excess of the fair value of Assurex’s net tangible and intangible assets acquired, resulting in the Company recording $120.5 in goodwill in connection with the transaction. During the current quarter there were fair value reductions as of the date of the acquisition to intangible assets and equipment totaling $1.7 due to adoption of our capitalization policy which increased goodwill by that amount. Also, during the period there was an adjustment to working capital as of the date of acquisition which required an additional $3.1 cash payment and increased goodwill by that amount. During the period there was also a $0.6 decrease in the deferred tax liability due to a change in the blended state tax rate which decreased goodwill by the same amount. 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. The preliminary allocation of the consideration transferred is based on a preliminary valuation and is subject to potential adjustments. Balances subject to adjustment primarily include accounts receivable, the valuations of acquired assets (tangible and intangible), liabilities and the fair value of equipment, non-controlling interest, as well as tax-related matters, including tax basis of acquired assets and liabilities in a foreign jurisdiction. During the measurement period, the Company may record adjustments to the provisional amounts recognized in the Company’s initial accounting for the acquisition. The Company expects the allocation of the consideration transferred to be final within the measurement period (up to one year from the acquisition date). The preliminary purchase price allocation as of December 31, 2016 is as follows: Estimated Current assets $ 18.2 Intangible assets 295.6 Equipment 1.8 Goodwill 120.5 Current liabilities (18.6 ) Deferred tax liability (65.9 ) Total fair value purchase price $ 351.6 Less: Contingent consideration (130.0 ) Less: Cash acquired (5.5 ) Total cash consideration transferred $ 216.1 Identifiable Intangible Assets The Company acquired intangible assets that consisted of developed technology which had an estimated fair value of $256.5 and a database with an estimated fair value of $39.1. The fair value of the developed technology was determined using a probability-weighted income approach that discounts expected future cash flows to present value. The fair value of the database was determined using a combination of the lost profits and replacement cost methods. The estimated net cash flows were discounted using a discount rate of 16% which is based on the estimated internal rate of return for the acquisition and represents the rate that market participants might use to value the intangible assets. The projected cash flows were based on key assumptions such as: estimates of revenues and operating profits; the time and resources needed to recreate databases and product and commercial development and approval; the life of the commercialized product; and associated risks related to viability and product alternatives. The Company will amortize the intangible assets on a straight-line basis over their estimated useful lives of 17 years for the developed technology and 5 years for the database. This amortization is not deductible for income tax purposes. During the quarter the internally developed software was written off as it was already included in the fair value of the developed technology. Goodwill The $120.5 of goodwill represents the excess of consideration transferred over the fair value of assets acquired and liabilities assumed and is attributable to the benefits expected from combining the Company’s research and commercial operations with Assurex’s. This goodwill is not deductible for income tax purposes. Change in goodwill from prior quarter is shown below: Carrying Balance September 30, 2016 $ 116.3 Fair value adjustment to equipment and intangibles 1.7 Working capital adjustment 3.1 Change in deferred tax liability (0.6 ) Ending balance December 31, 2016 $ 120.5 Pro Forma Information The unaudited pro-forma results presented below include the effects of the Assurex acquisition as if it had been consummated as of July 1, 2015, with adjustments to give effect to pro forma events that are directly attributable to the acquisition which includes adjustments related to the amortization of acquired intangible assets, interest income and expense, and depreciation. The unaudited pro forma results do not reflect any operating efficiency or potential cost savings which may result from the consolidation of Assurex. Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operation of the combined company would have been if the acquisition had occurred at the beginning of the period presented nor are they indicative of future results of operations and are not necessarily indicative of results that might have been achieved had the acquisition been consummated as of July 1, 2015. Three months ended Six months ended 2016 2015 2016 2015 Revenue $ 196.5 $ 208.1 $ 385.4 $ 402.6 Income from operations 13.2 32.7 12.4 65.6 Net income (loss) 5.9 23.5 (13.3 ) 43.0 Net income (loss) per share, basic $ 0.09 $ 0.33 $ (0.19 ) $ 0.62 Net income (loss) per share, diluted $ 0.09 $ 0.32 $ (0.19 ) $ 0.59 To complete the purchase transaction, we incurred approximately $5.0 million of acquisition costs, which were recorded as selling, general and administrative expenses. For the three and six months ended December 31, 2016, Assurex contributed revenue of approximately $21.8 and $29.0, respectively. For the three and six months ended December 31, 2016 operating expenses related to Assurex were approximately $27.9 and $41.2, respectively. Sividon On May 31, 2016 the Company completed the acquisition of Sividon Diagnostics GmbH (“Sividon”), a leading breast cancer prognostic company with cash paid and total cash consideration transferred of $39.0 upfront and the potential for €15.0 ($15.8 converted at the December 31, 2016 period end exchange rate) in additional performance-based milestones. 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. We believe the acquisition brings us the best-in-class breast cancer prognostic test and strengthens our market leading oncology portfolio of high value personalized medicine products which can be expanded internationally as well as brought to the US market. These factors contributed to consideration transferred in excess of the fair value of Sividon’s net tangible and intangible assets acquired, resulting in the Company recording goodwill in connection with the transaction. The goodwill related to the purchase is not tax deductible. 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. The preliminary allocation of the consideration transferred is based on a preliminary valuation and is subject to potential adjustments. Balances subject to adjustment primarily include tax-related matters, including tax basis of acquired assets and liabilities in the foreign jurisdiction. During the measurement period, the Company may record adjustments to the provisional amounts recognized in the Company’s initial accounting for the acquisition. The Company expects the allocation of the consideration transferred to be final within the measurement period (up to one year from the acquisition date). Based upon updated fair value calculations as of the purchase date there was a decrease in contingent consideration of $0.4 and intangibles of $0.4 which increased goodwill by $0.8 during the six months ended December 31, 2016. Estimated Current assets $ 2.7 Intangible assets 45.4 Equipment 0.3 Goodwill 18.9 Current liabilities (15.4 ) Total fair value purchase price $ 51.9 Less: Contingent consideration (10.9 ) Less: Cash acquired (2.0 ) Total cash consideration transferred $ 39.0 The acquisition of Sividon has been deemed insignificant in relation to the consolidated financial statements. As such, proforma financial information is not provided.

Marketable Investment Securitie

Marketable Investment Securities	6 Months Ended
	Dec. 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 December 31, 2016 and June 30, 2016 were as follows: Amortized Gross Gross Estimated At December 31, 2016: Cash and cash equivalents: Cash $ 81.3 $ — $ — $ 81.3 Cash equivalents 26.8 — — 26.8 Total cash and cash equivalents 108.1 — — 108.1 Available-for-sale: Corporate bonds and notes 38.6 — (0.1 ) 38.5 Municipal bonds 55.7 — (0.1 ) 55.6 Federal agency issues 12.6 — (0.1 ) 12.5 US government securities 3.3 — — 3.3 Total $ 218.3 $ — $ (0.3 ) $ 218.0 Amortized Gross Gross Estimated At June 30, 2016: Cash and cash equivalents: Cash $ 66.1 $ — $ — $ 66.1 Cash equivalents 2.4 — — 2.4 Total cash and cash equivalents 68.5 — — 68.5 Available-for-sale: Corporate bonds and notes 50.8 0.2 — 51.0 Municipal bonds 85.4 0.2 — 85.6 Federal agency issues 25.5 — — 25.5 US government securities 8.2 0.1 — 8.3 Total $ 238.4 $ 0.5 $ — $ 238.9 Cash, cash equivalents, and maturities of debt securities classified as available-for-sale securities are as follows at December 31, 2016: Amortized Estimated Cash $ 81.3 $ 81.3 Cash equivalents 26.8 26.8 Available-for-sale: Due within one year 54.4 54.4 Due after one year through five years 55.8 55.5 Due after five years — — Total $ 218.3 $ 218.0

Property, Plant and Equipment,

Property, Plant and Equipment, Net	6 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	(4) PROPERTY, PLANT AND EQUIPMENT, NET December 31, June 30, Land $ 2.2 $ 2.3 Buildings and improvements 16.1 17.3 Leasehold improvements 20.5 18.7 Equipment 105.8 103.4 144.6 141.7 Less accumulated depreciation (89.9 ) (83.4 ) Property, plant and equipment, net $ 54.7 $ 58.3 Three months ended Six months ended 2016 2015 2016 2015 Depreciation expense $ 3.6 $ 3.6 $ 7.3 $ 7.2

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	(5) GOODWILL AND INTANGIBLE ASSETS Goodwill The Company has recorded goodwill of $315.4 from the acquisitions of Assurex that was completed on August 31, 2016, Sividon that was completed on May 31, 2016, Privatklinik Dr. Robert Schindlbeck GmbH & Co. KG (the “Clinic”) 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, $250.4 relates to the Company’s diagnostic segment and $65.0 relates to the other segment. The following summarizes changes to the goodwill balance for the six months ended December 31, 2016: Carrying Beginning balance July 1, 2016 $ 195.3 Acquisitions (see note 2) 120.5 Adjustments to acquisitions (see note 2) 0.8 Translation adjustments (1.2 ) Ending balance December 31, 2016 $ 315.4 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: At December 31, 2016: Gross Accumulated Net Purchased licenses and technologies $ 523.5 $ (43.0 ) $ 480.5 Customer relationships 4.7 (2.6 ) 2.1 Trademarks 3.0 (0.7 ) 2.3 Total amortized intangible assets 531.2 (46.3 ) 484.9 In-process research and development 21.5 — 21.5 Total unamortized intangible assets 21.5 — 21.5 Total intangible assets $ 552.7 $ (46.3 ) $ 506.4 At June 30, 2016: Gross Accumulated Net Purchased licenses and technologies $ 228.7 $ (28.5 ) $ 200.2 Customer relationships 4.7 (2.4 ) 2.3 Trademarks 3.0 (0.6 ) 2.4 Total amortized intangible assets 236.4 (31.5 ) 204.9 In-process research and development 22.6 — 22.6 Total unamortized intangible assets 22.6 — 22.6 Total intangible assets $ 259.0 $ (31.5 ) $ 227.5 The Company recorded amortization expense during the respective periods for these intangible assets as follows: Three months ended Six months ended 2016 2015 2016 2015 Amortization of intangible assets $ 9.3 $ 3.2 $ 14.8 $ 6.3

Cost Basis Investment

Cost Basis Investment	6 Months Ended
	Dec. 31, 2016
Investments, All Other Investments [Abstract]
Cost Basis Investment	(6) COST BASIS INVESTMENT As of December 31, 2016, the Company had a $2.5 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. Initial cost method fair value of the investment was $5.0. During the quarter ended December 31, 2016 we recognized a $2.5 impairment on this investment based on indications suggesting that the fair value of this investment was impaired.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued Liabilities	(7) ACCRUED LIABILITIES December 31, June 30, Employee compensation and benefits $ 41.0 $ 37.3 Accrued taxes payable 3.0 2.8 Other 13.7 9.4 Total accrued liabilities $ 57.7 $ 49.5

Short-Term Debt

Short-Term Debt	6 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Short-Term Debt	(8) SHORT-TERM DEBT On August 31, 2016, the Company entered into a Credit Agreement pursuant to which it borrowed term loans in an aggregate principal amount of $200.0 (the “Term Loan”). The Term Loan was to mature on August 31, 2017. There were no scheduled principal payments of the Term Loan prior to its maturity date. The proceeds of the Term Loan were used to (i) finance the acquisition of Assurex, (ii) refinance certain existing indebtedness of Assurex and its subsidiaries, (iii) pay fees, commissions, transactions costs and expenses incurred in connection with the foregoing, and (iv) for working capital and other general corporate purposes. On December 23, 2016, the Company entered into a senior secured revolving credit facility (the “Facility”). A portion of the proceeds of the Facility were used to extinguish in full the obligations under the Term Loan. The Company recognized a $1.3 loss on extinguishment during the quarter reflected as a component of interest expense on the condensed consolidated statement of operations.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	(9) 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, the lenders from time to time party thereto, providing for the Facility in an aggregate principal amount of up to $300.0, which amount shall include $10.0 sublimits, in each case, for swingline loans and letters of credit. Pursuant to the Facility, Myriad borrowed revolving loans in an aggregate principal amount of $205.0 with $0.7 upfront fees and $0.3 debt issuance costs recorded as a debt discount to be amortized over the term of the Facility resulting in current net long-term debt of $204.0. The Facility matures on December 23, 2021. There are no scheduled principal payments of the Facility prior to its maturity date. The proceeds of the Facility were used (i) to refinance in full the obligations under the Term Loan, (ii) to pay any fees and expenses related thereto, and (iii) for working capital and general corporate purposes. The 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 Credit Agreement also contains certain customary events of default. Covenants in the Facility, which go into effect during the quarter ending March 31, 2017, 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, mergers or consolidations, and/or change in control transactions. The Facility may also prohibit or place limitations on the Company’s ability to sell assets, pay dividends or provide other distributions to shareholders. The Company must maintain a specified leverage and interest ratios measured as of the end of each quarter as a financial covenant in the Facility. The 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 Facility. Amounts outstanding under the Facility were as follows: December 31, June 30, Long-term debt $ 205.0 $ — Long-term debt discount (1.0 ) — Net long-term debt $ 204.0 $ —

Other Long Term Liabilities

Other Long Term Liabilities	6 Months Ended
	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Other Long Term Liabilities	(10) OTHER LONG TERM LIABILITIES December 31, June 30, Assurex contingent consideration $ 125.5 $ — Sividon contingent consideration 11.6 10.4 Pension obligation 5.8 5.9 Other 3.0 1.9 Total other long term liabilities $ 145.9 $ 18.2 The Company has two non-contributory defined benefit pension plans for its current and former Clinic employees. Participation in the plans excludes those employees hired after 2002. As of December 31, 2016 the fair value of the plan assets were approximately $0.1 resulting in a net pension liability of $5.8.

Preferred and Common Stockholde

Preferred and Common Stockholder's Equity	6 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Preferred and Common Stockholder's Equity	(11) 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 December 31, 2016. The Company is authorized to issue up to 150.0 shares of common stock, par value $0.01 per share. There were 68.1 shares issued and outstanding at December 31, 2016. Common shares issued and outstanding Six months ended 2016 2015 Common stock issued and outstanding at July 1 69.1 68.9 Common stock issued upon exercise of options and employee stock plans 0.6 4.4 Repurchase and retirement of common stock (1.6 ) (1.7 ) Common stock issued and outstanding at December 31 68.1 71.6 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 Six months ended 2016 2015 2016 2015 Denominator: Weighted-average shares outstanding used to compute basic EPS 68.2 70.5 68.5 69.6 Effect of dilutive shares 0.1 3.3 0.4 3.5 Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 68.3 73.8 68.9 73.1 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 Six months ended 2016 2015 2016 2015 Anti-dilutive options and RSU’s excluded from EPS computation 8.7 — 6.4 — Stock Repurchase Program In June 2016, the Company’s Board of Directors authorized an eighth 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 December 31, 2016, the Company has $160.7 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 December 31, 2016 and 2015 were as follows: Three months ended Six months ended 2016 2015 2016 2015 Shares purchased and retired 0.6 0.6 1.6 1.7 Common stock and additional paid-in-capital reductions $ 5.4 $ 5.4 $ 14.5 $ 14.9 Charges to retained earnings $ 4.8 $ 20.0 $ 17.1 $ 48.5

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	(12) 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 December 31, 2016 was $6.2, or approximately 51.2% of pre-tax income, compared to $7.9, or approximately 17.6% of pre-tax income, for the three months ended December 31, 2015. Income tax expense for the six months ended December 31, 2016 was $11.4, or approximately 70.8% of pre-tax income, compared to $21.1, or approximately 23.8% of pre-tax income, for the six months ended December 31, 2015. Income tax expense for the three and six months ended December 31, 2016 is based on the Company’s estimated annual effective tax rate for the full fiscal year ending June 30, 2017, adjusted by discrete items recognized during the period. For the six months ended December 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, penalties and interest, certain expenses or adjustments related to acquisitions, changes in valuation allowance, and the prior year adoption of ASU 2016-09 (“ASU2016-09”), Improvements to Employee Share-Based Payment Accounting and other 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 years ended June 30, 2014 and June 30, 2015; the State of New Jersey for the fiscal years June 30, 2007 through 2013; the State of New York for the fiscal years June 30, 2014 through 2015; and the State of California for the fiscal years June 30, 2013 through 2014. 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. The FASB issued ASU 2016-09 on March 30, 2016, in an effort to simplify the accounting for income taxes surrounding excess tax benefits. The Company elected early adoption in the fourth quarter of the June 30, 2016 fiscal year. The guidance indicates that the provision is to be adopted prospectively and that any adjustment for the period ending June 30, 2016 must be reflected as of the beginning of the June 30, 2016 fiscal year. Accordingly, adjustments related of the application of ASU 2016-09 in any period following the June 30, 2016 fiscal year are reflected as required in both the effective tax rate, and the deferred tax asset and liabilities. The Company has made an entity-wide accounting policy election to continue to estimate the number of awards that are expected to vest and adjust the estimate when it is likely to change.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	(13) 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 1, 2016, the shareholders approved an amendment to the 2010 Plan to add 2.5 to the number of shares of common stock available for grant. At December 31, 2016, 2.7 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 December 31, 2016, the Company may grant up to 2.4 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 periods are determined by the Company’s Board of Directors or a committee thereof on an option-by-option basis. 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 issuing restricted stock units (“RSUs”) in lieu of stock options. RSUs granted to employees generally vest ratably over four years on the anniversary date of the last day of the month in which the RSUs are granted. The number of RSUs awarded to certain executive officers may be reduced if certain additional performance metrics are not met. Options and restricted stock units granted to our non-employee directors vest in full upon the earlier of (i) one full year of service on the Board following date of grant or (ii) the date of the next annual meeting of stockholders. Stock Options A summary of the stock option activity under the Company’s plans for the six months ended December 31, 2016 is as follows: Number Weighted Options outstanding at June 30, 2016 8.2 $ 24.52 Options granted — $ — Less: Options exercised (0.1 ) $ 13.39 Options canceled or expired — $ — Options outstanding at December 31, 2016 8.1 $ 24.60 Options exercisable at December 31, 2016 7.6 $ 24.46 As of December 31, 2016, there was $3.3 of total unrecognized share-based compensation expense related to stock options that will be recognized over a weighted-average period of 0.70 years. Restricted Stock Units A summary of the RSU activity under the Company’s plans for the six months ended December 31, 2016 is as follows: Number Weighted RSUs outstanding at June 30, 2016 1.4 $ 38.76 RSUs granted 1.1 $ 21.47 Less: RSUs vested (0.4 ) $ 20.26 RSUs canceled — $ — RSUs outstanding at December 31, 2016 2.1 $ 33.30 As of December 31, 2016, there was $41.1 of total unrecognized share-based compensation expense related to RSUs that will be recognized over a weighted-average period of 2.55 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 December 31, 2016, approximately 0.9 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 Six months ended 2016 2015 2016 2015 Cost of molecular diagnostic testing $ 0.3 $ 0.3 $ 0.4 $ 0.5 Cost of pharmaceutical and clinical services 0.0 0.1 0.1 0.2 Research and development expense 1.4 1.2 3.0 2.8 Selling, general, and administrative expense 5.7 6.1 11.7 12.8 Total share-based compensation expense $ 7.4 $ 7.7 $ 15.2 $ 16.3

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	(14) 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 of contingent consideration related to the Sividon and Assurex acquisitions as well as the long-term debt were categorized as a level 3 liability, as the measurement amount is based primarily on significant inputs not observable in the market. For more information about the Sividon and Assurex acquisitions, see Note 2 “Acquisitions”. 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, we reassess 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 expected earn out liability. This fair value measurement is considered a Level 3 measurement because we estimate projections during the earn out period 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 liability is classified as a component of other long-term liabilities in our consolidated balance sheets. The disclosed fair value of our long-term debt, which we consider as a level 3 measurement, is determined using discounted estimated future cash payments to be made on such debt; the discount rate used approximated current market rates for loans with similar maturities and credit quality. Since the debt was acquired so late in the quarter there is no difference between the fair value and the carrying amount. Changes to the estimated liabilities are reflected in selling, general and administrative expenses in our consolidated income statements. 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 December 31, 2016 Money market funds (a) $ 26.9 $ — $ — $ 26.9 Corporate bonds and notes — 38.6 — 38.6 Municipal bonds — 55.5 — 55.5 Federal agency issues — 12.5 — 12.5 US government securities — 3.3 — 3.3 Contingent consideration — — (137.1 ) (137.1 ) Long-term debt — — (204.0 ) (204.0 ) Total $ 26.9 $ 109.9 $ (341.1 ) $ (204.3 ) (a) Money market funds are primarily comprised of exchange traded funds and accrued interest Level 1 Level 2 Level 3 Total June 30, 2016 Money market funds (a) $ 2.4 $ — $ — $ 2.4 Corporate bonds and notes — 51.0 — 51.0 Municipal bonds — 85.6 — 85.6 Federal agency issues — 25.5 — 25.5 US government securities — 8.3 — 8.3 Contingent consideration — — (10.4 ) (10.4 ) Total $ 2.4 $ 170.4 $ (10.4 ) $ 162.4 (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: Carrying amount Balance June 30, 2016 $ 10.4 Purchases (see note 2) 130.0 Adjustments to purchase accounting 0.5 Change in fair value recognized in the income statement (3.3 ) Translation adjustments recognized in other comprehensive income (0.5 ) Ending balance December 31, 2016 $ 137.1

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(15) 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 December 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	6 Months Ended
	Dec. 31, 2016
Postemployment Benefits [Abstract]
Employee Deferred Savings Plan	(16) 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 Six months ended 2016 2015 2016 2015 Deferred savings plan contributions $ 1.4 $ 1.2 $ 3.0 $ 2.7

Segment and Related Information

Segment and Related Information	6 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment and Related Information	(17) 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: Diagnostics Other Total Three months ended December 31, 2016 Revenues $ 183.9 $ 12.6 $ 196.5 Depreciation and amortization 11.5 1.5 13.0 Segment operating income (loss) 32.1 (18.9 ) 13.2 Three months ended December 31, 2015 Revenues $ 182.6 $ 10.7 $ 193.3 Depreciation and amortization 5.5 1.3 6.8 Segment operating income (loss) 64.6 (19.4 ) 45.2 Six months ended December 31, 2016 Revenues $ 348.9 $ 25.0 $ 373.9 Depreciation and amortization 19.3 2.8 22.1 Segment operating income (loss) 63.1 (43.7 ) 19.4 Six months ended December 31, 2015 Revenues $ 354.5 $ 22.3 $ 376.8 Depreciation and amortization 10.9 2.6 13.5 Segment operating income (loss) 127.0 (38.5 ) 88.5 Three months ended December 31, Six months ended December 31, 2016 2015 2016 2015 Total operating income for reportable segments $ 13.2 $ 45.2 $ 19.4 $ 88.5 Unallocated amounts: Interest income 0.3 0.1 0.6 0.2 Interest expense (2.6 ) (0.1 ) (3.3 ) (0.1 ) Other 1.2 (0.2 ) (0.6 ) — Income from operations before income taxes 12.1 45.0 16.1 88.6 Income tax provision 6.2 7.9 11.4 21.1 Net income $ 5.9 $ 37.1 $ 4.7 $ 67.5

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	(18) SUPPLEMENTAL CASH FLOW INFORMATION Six months ended 2016 2015 Cash paid during the period for income taxes $ 8.0 $ 28.5 Non-cash investing and financing activities: Fair value adjustment on marketable investment securities recorded to other stockholder’s equity (0.8 ) (0.1 )

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements have been prepared by Myriad Genetics, Inc. (the “Company” or “Myriad”) 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, 2016, included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2016. Operating results for the three and six months ended December 31, 2016 may not necessarily be indicative of results to be expected for any other interim period or for the full year. The consolidated financial statements include the accounts of the Company’s majority-owned subsidiary, Assurex Canada, Ltd. which is 85% owned by Assurex Health, Inc. (“Assurex), a wholly owned subsidiary of the Company, and 15% owned by the Centre for Addiction and Mental Health. Assurex Canada, Ltd. is a consolidated subsidiary of Assurex Health, Inc. The value of the non-controlling interest represents the portion of Assurex Canada Ltd.’s profit or loss and net assets that is not held by Assurex Health, Inc. The Company attributes comprehensive income or loss of the subsidiary between the Company and the non-controlling interest based on the respective ownership interest. 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 May 2014, the Financial Accounting Standards Board issued ASU No. 2014-09, “Revenue from Contracts with Customers.” Under the new standard, revenue is recognized at the time a good or service is transferred to a customer for the amount of consideration received for that specific good or service. In July 2015, the FASB voted to defer the effective date by one year to December 15, 2017 for interim and annual reporting periods beginning after that date. Early adoption is permitted for interim and annual periods beginning after the original effective date of December 15, 2016. Companies may use either a full retrospective or a modified retrospective approach to adopt the standard. We are currently evaluating the impact the adoption of this standard will have on our consolidated financial statements.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Dec. 31, 2016
Changes in Carrying Amount of Goodwill	The following summarizes changes to the goodwill balance for the six months ended December 31, 2016: Carrying Beginning balance July 1, 2016 $ 195.3 Acquisitions (see note 2) 120.5 Adjustments to acquisitions (see note 2) 0.8 Translation adjustments (1.2 ) Ending balance December 31, 2016 $ 315.4
Pro Forma Results of Acquisitions	Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operation of the combined company would have been if the acquisition had occurred at the beginning of the period presented nor are they indicative of future results of operations and are not necessarily indicative of results that might have been achieved had the acquisition been consummated as of July 1, 2015. Three months ended Six months ended 2016 2015 2016 2015 Revenue $ 196.5 $ 208.1 $ 385.4 $ 402.6 Income from operations 13.2 32.7 12.4 65.6 Net income (loss) 5.9 23.5 (13.3 ) 43.0 Net income (loss) per share, basic $ 0.09 $ 0.33 $ (0.19 ) $ 0.62 Net income (loss) per share, diluted $ 0.09 $ 0.32 $ (0.19 ) $ 0.59
German Clinic [Member]
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. The preliminary allocation of the consideration transferred is based on a preliminary valuation and is subject to potential adjustments. Balances subject to adjustment primarily include tax-related matters, including tax basis of acquired assets and liabilities in the foreign jurisdiction. During the measurement period, the Company may record adjustments to the provisional amounts recognized in the Company’s initial accounting for the acquisition. The Company expects the allocation of the consideration transferred to be final within the measurement period (up to one year from the acquisition date). Based upon updated fair value calculations as of the purchase date there was a decrease in contingent consideration of $0.4 and intangibles of $0.4 which increased goodwill by $0.8 during the six months ended December 31, 2016. Estimated Current assets $ 2.7 Intangible assets 45.4 Equipment 0.3 Goodwill 18.9 Current liabilities (15.4 ) Total fair value purchase price $ 51.9 Less: Contingent consideration (10.9 ) Less: Cash acquired (2.0 ) Total cash consideration transferred $ 39.0
Sividon Diagnostics GmbH [Member]
Allocation of Consideration Transferred	The preliminary purchase price allocation as of December 31, 2016 is as follows: Estimated Current assets $ 18.2 Intangible assets 295.6 Equipment 1.8 Goodwill 120.5 Current liabilities (18.6 ) Deferred tax liability (65.9 ) Total fair value purchase price $ 351.6 Less: Contingent consideration (130.0 ) Less: Cash acquired (5.5 ) Total cash consideration transferred $ 216.1
Assurex [Member]
Changes in Carrying Amount of Goodwill	Change in goodwill from prior quarter is shown below: Carrying Balance September 30, 2016 $ 116.3 Fair value adjustment to equipment and intangibles 1.7 Working capital adjustment 3.1 Change in deferred tax liability (0.6 ) Ending balance December 31, 2016 $ 120.5

Marketable Investment Securit27

Marketable Investment Securities (Tables)	6 Months Ended
	Dec. 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 December 31, 2016 and June 30, 2016 were as follows: Amortized Gross Gross Estimated At December 31, 2016: Cash and cash equivalents: Cash $ 81.3 $ — $ — $ 81.3 Cash equivalents 26.8 — — 26.8 Total cash and cash equivalents 108.1 — — 108.1 Available-for-sale: Corporate bonds and notes 38.6 — (0.1 ) 38.5 Municipal bonds 55.7 — (0.1 ) 55.6 Federal agency issues 12.6 — (0.1 ) 12.5 US government securities 3.3 — — 3.3 Total $ 218.3 $ — $ (0.3 ) $ 218.0 Amortized Gross Gross Estimated At June 30, 2016: Cash and cash equivalents: Cash $ 66.1 $ — $ — $ 66.1 Cash equivalents 2.4 — — 2.4 Total cash and cash equivalents 68.5 — — 68.5 Available-for-sale: Corporate bonds and notes 50.8 0.2 — 51.0 Municipal bonds 85.4 0.2 — 85.6 Federal agency issues 25.5 — — 25.5 US government securities 8.2 0.1 — 8.3 Total $ 238.4 $ 0.5 $ — $ 238.9
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 December 31, 2016: Amortized Estimated Cash $ 81.3 $ 81.3 Cash equivalents 26.8 26.8 Available-for-sale: Due within one year 54.4 54.4 Due after one year through five years 55.8 55.5 Due after five years — — Total $ 218.3 $ 218.0

Property, Plant and Equipment28

Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	December 31, June 30, Land $ 2.2 $ 2.3 Buildings and improvements 16.1 17.3 Leasehold improvements 20.5 18.7 Equipment 105.8 103.4 144.6 141.7 Less accumulated depreciation (89.9 ) (83.4 ) Property, plant and equipment, net $ 54.7 $ 58.3 Three months ended Six months ended 2016 2015 2016 2015 Depreciation expense $ 3.6 $ 3.6 $ 7.3 $ 7.2

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Summarized Amounts Reported as Intangible Assets	The following summarizes the amounts reported as intangible assets: At December 31, 2016: Gross Accumulated Net Purchased licenses and technologies $ 523.5 $ (43.0 ) $ 480.5 Customer relationships 4.7 (2.6 ) 2.1 Trademarks 3.0 (0.7 ) 2.3 Total amortized intangible assets 531.2 (46.3 ) 484.9 In-process research and development 21.5 — 21.5 Total unamortized intangible assets 21.5 — 21.5 Total intangible assets $ 552.7 $ (46.3 ) $ 506.4 At June 30, 2016: Gross Accumulated Net Purchased licenses and technologies $ 228.7 $ (28.5 ) $ 200.2 Customer relationships 4.7 (2.4 ) 2.3 Trademarks 3.0 (0.6 ) 2.4 Total amortized intangible assets 236.4 (31.5 ) 204.9 In-process research and development 22.6 — 22.6 Total unamortized intangible assets 22.6 — 22.6 Total intangible assets $ 259.0 $ (31.5 ) $ 227.5
Amortization for Intangible Assets	The Company recorded amortization expense during the respective periods for these intangible assets as follows: Three months ended Six months ended 2016 2015 2016 2015 Amortization of intangible assets $ 9.3 $ 3.2 $ 14.8 $ 6.3

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
Summary of Accrued Liabilities	December 31, June 30, Employee compensation and benefits $ 41.0 $ 37.3 Accrued taxes payable 3.0 2.8 Other 13.7 9.4 Total accrued liabilities $ 57.7 $ 49.5

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Amounts outstanding under the Facility were as follows: December 31, June 30, Long-term debt $ 205.0 $ — Long-term debt discount (1.0 ) — Net long-term debt $ 204.0 $ —

Other Long Term Liabilities (Ta

Other Long Term Liabilities (Tables)	6 Months Ended
	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Summary of Other Long Term Liabilities	December 31, June 30, Assurex contingent consideration $ 125.5 $ — Sividon contingent consideration 11.6 10.4 Pension obligation 5.8 5.9 Other 3.0 1.9 Total other long term liabilities $ 145.9 $ 18.2

Preferred and Common Stockhol33

Preferred and Common Stockholder's Equity (Tables)	6 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Summary of Common Shares Issued and Outstanding	Common shares issued and outstanding Six months ended 2016 2015 Common stock issued and outstanding at July 1 69.1 68.9 Common stock issued upon exercise of options and employee stock plans 0.6 4.4 Repurchase and retirement of common stock (1.6 ) (1.7 ) Common stock issued and outstanding at December 31 68.1 71.6
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 Six months ended 2016 2015 2016 2015 Denominator: Weighted-average shares outstanding used to compute basic EPS 68.2 70.5 68.5 69.6 Effect of dilutive shares 0.1 3.3 0.4 3.5 Weighted-average shares outstanding and dilutive securities used to compute diluted EPS 68.3 73.8 68.9 73.1
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 Six months ended 2016 2015 2016 2015 Anti-dilutive options and RSU’s excluded from EPS computation 8.7 — 6.4 —
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 December 31, 2016 and 2015 were as follows: Three months ended Six months ended 2016 2015 2016 2015 Shares purchased and retired 0.6 0.6 1.6 1.7 Common stock and additional paid-in-capital reductions $ 5.4 $ 5.4 $ 14.5 $ 14.9 Charges to retained earnings $ 4.8 $ 20.0 $ 17.1 $ 48.5

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Dec. 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 six months ended December 31, 2016 is as follows: Number Weighted Options outstanding at June 30, 2016 8.2 $ 24.52 Options granted — $ — Less: Options exercised (0.1 ) $ 13.39 Options canceled or expired — $ — Options outstanding at December 31, 2016 8.1 $ 24.60 Options exercisable at December 31, 2016 7.6 $ 24.46
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 six months ended December 31, 2016 is as follows: Number Weighted RSUs outstanding at June 30, 2016 1.4 $ 38.76 RSUs granted 1.1 $ 21.47 Less: RSUs vested (0.4 ) $ 20.26 RSUs canceled — $ — RSUs outstanding at December 31, 2016 2.1 $ 33.30
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 Six months ended 2016 2015 2016 2015 Cost of molecular diagnostic testing $ 0.3 $ 0.3 $ 0.4 $ 0.5 Cost of pharmaceutical and clinical services 0.0 0.1 0.1 0.2 Research and development expense 1.4 1.2 3.0 2.8 Selling, general, and administrative expense 5.7 6.1 11.7 12.8 Total share-based compensation expense $ 7.4 $ 7.7 $ 15.2 $ 16.3

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 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 December 31, 2016 Money market funds (a) $ 26.9 $ — $ — $ 26.9 Corporate bonds and notes — 38.6 — 38.6 Municipal bonds — 55.5 — 55.5 Federal agency issues — 12.5 — 12.5 US government securities — 3.3 — 3.3 Contingent consideration — — (137.1 ) (137.1 ) Long-term debt — — (204.0 ) (204.0 ) Total $ 26.9 $ 109.9 $ (341.1 ) $ (204.3 ) (a) Money market funds are primarily comprised of exchange traded funds and accrued interest Level 1 Level 2 Level 3 Total June 30, 2016 Money market funds (a) $ 2.4 $ — $ — $ 2.4 Corporate bonds and notes — 51.0 — 51.0 Municipal bonds — 85.6 — 85.6 Federal agency issues — 25.5 — 25.5 US government securities — 8.3 — 8.3 Contingent consideration — — (10.4 ) (10.4 ) Total $ 2.4 $ 170.4 $ (10.4 ) $ 162.4 (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: Carrying amount Balance June 30, 2016 $ 10.4 Purchases (see note 2) 130.0 Adjustments to purchase accounting 0.5 Change in fair value recognized in the income statement (3.3 ) Translation adjustments recognized in other comprehensive income (0.5 ) Ending balance December 31, 2016 $ 137.1

Employee Deferred Savings Plan

Employee Deferred Savings Plan (Tables)	6 Months Ended
	Dec. 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 Six months ended 2016 2015 2016 2015 Deferred savings plan contributions $ 1.4 $ 1.2 $ 3.0 $ 2.7

Segment and Related Informati37

Segment and Related Information (Tables)	6 Months Ended
	Dec. 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 December 31, 2016 Revenues $ 183.9 $ 12.6 $ 196.5 Depreciation and amortization 11.5 1.5 13.0 Segment operating income (loss) 32.1 (18.9 ) 13.2 Three months ended December 31, 2015 Revenues $ 182.6 $ 10.7 $ 193.3 Depreciation and amortization 5.5 1.3 6.8 Segment operating income (loss) 64.6 (19.4 ) 45.2 Six months ended December 31, 2016 Revenues $ 348.9 $ 25.0 $ 373.9 Depreciation and amortization 19.3 2.8 22.1 Segment operating income (loss) 63.1 (43.7 ) 19.4 Six months ended December 31, 2015 Revenues $ 354.5 $ 22.3 $ 376.8 Depreciation and amortization 10.9 2.6 13.5 Segment operating income (loss) 127.0 (38.5 ) 88.5 Three months ended December 31, Six months ended December 31, 2016 2015 2016 2015 Total operating income for reportable segments $ 13.2 $ 45.2 $ 19.4 $ 88.5 Unallocated amounts: Interest income 0.3 0.1 0.6 0.2 Interest expense (2.6 ) (0.1 ) (3.3 ) (0.1 ) Other 1.2 (0.2 ) (0.6 ) — Income from operations before income taxes 12.1 45.0 16.1 88.6 Income tax provision 6.2 7.9 11.4 21.1 Net income $ 5.9 $ 37.1 $ 4.7 $ 67.5

Supplemental Cash Flow Inform38

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Six months ended 2016 2015 Cash paid during the period for income taxes $ 8.0 $ 28.5 Non-cash investing and financing activities: Fair value adjustment on marketable investment securities recorded to other stockholder’s equity (0.8 ) (0.1 )

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	Dec. 31, 2016
Assurex [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Non controlling interest ownership percentage by parent	85.00%
Centre For Addiction And Mental Health [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Non controlling interest ownership percentage by noncontrolling owners	15.00%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) € in Millions, $ in Millions	Aug. 31, 2016USD ($)	May 31, 2016USD ($)	May 31, 2015USD ($)	Aug. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2016USD ($)	May 31, 2016EUR (€)
Business Acquisition [Line Items]
Cash payment on acquisition						$ 216.1
Goodwill					$ 315.4	315.4	$ 195.3
Increase in goodwill due to working capital adjustment						0.8
Decrease in contingent consideration						3.2
Sividon Diagnostics GmbH [Member]
Business Acquisition [Line Items]
Total consideration transferred			$ 51.9
Cash payment on acquisition			39
Contingent consideration			10.9
Business acquisition, net cash acquired			2
Goodwill			18.9
Acquired intangible assets			$ 45.4
Total cash consideration transferred		$ 39
Business combination upfront and potential in additional performance based milestones							15.8	€ 15
Decrease in contingent consideration						0.4
Decrease in intangibles						0.4
Increase in goodwill						$ 0.8
Assurex [Member]
Business Acquisition [Line Items]
Total consideration transferred	$ 351.6			$ 351.6
Cash payment on acquisition	216.1
Additional payments upon completion of performance based milestones	185			185
Contingent consideration	130			130
Contingent consideration, valuation method						The fair value of the performance-based milestones was determined by using the Monte Carlo method.
Business acquisition, net cash acquired	5.5			5.5
Amount of cash consideration deposited in escrow account				19.1
Goodwill	120.5			120.5	120.5	$ 120.5	$ 116.3
Amount transfers into goodwill					1.7	1.7
Increase in goodwill due to working capital adjustment						3.1
Decrease in deferred tax liability due to a change in blended state tax rate						(0.6)
Decrease in goodwill due to a change in blended state tax rate						$ (0.6)
Acquired intangible assets	$ 295.6			$ 295.6
Estimated net cash flows, discount rate						16.00%
Acquisition costs					5	$ 5
Revenue contributed by acquired entity					21.8	29
Operating expenses related to acquired entity					27.9	41.2
Assurex [Member] | Developed Technology [Member]
Business Acquisition [Line Items]
Acquired intangible assets					256.5	$ 256.5
Intangible assets estimated useful lives						17 years
Assurex [Member] | Database [Member]
Business Acquisition [Line Items]
Acquired intangible assets					$ 39.1	$ 39.1
Intangible assets estimated useful lives						5 years

Acquisitions - Allocation of Co

Acquisitions - Allocation of Consideration Transferred (Detail) - USD ($) $ in Millions	Aug. 31, 2016	May 31, 2015	Dec. 31, 2016	Jun. 30, 2016
Business Acquisition [Line Items]
Goodwill			$ 315.4	$ 195.3
Total cash consideration transferred			216.1
Assurex [Member]
Business Acquisition [Line Items]
Current assets	$ 18.2
Intangible assets	295.6
Equipment	1.8
Goodwill	120.5		$ 120.5	$ 116.3
Current liabilities	(18.6)
Deferred tax liability	(65.9)
Total fair value purchase price	351.6
Less: Contingent consideration	(130)
Less: Cash acquired	(5.5)
Total cash consideration transferred	$ 216.1
Sividon Diagnostics GmbH [Member]
Business Acquisition [Line Items]
Current assets		$ 2.7
Intangible assets		45.4
Equipment		0.3
Goodwill		18.9
Current liabilities		(15.4)
Total fair value purchase price		51.9
Less: Contingent consideration		(10.9)
Less: Cash acquired		(2)
Total cash consideration transferred		$ 39

Acquisitions - Summary of Chang

Acquisitions - Summary of Changes to Goodwill Balance (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2016
Goodwill [Line Items]
Beginning balance		$ 195.3
Working capital adjustment		0.8
Ending balance	$ 315.4	315.4
Assurex [Member]
Goodwill [Line Items]
Beginning balance		116.3
Fair value adjustment to equipment and intangibles	1.7	1.7
Working capital adjustment		3.1
Change in deferred tax liability		(0.6)
Ending balance	$ 120.5	$ 120.5

Acquisitions - Pro Forma Result

Acquisitions - Pro Forma Results of Acquisitions (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Business Combination [Abstract]
Revenue	$ 196.5	$ 208.1	$ 385.4	$ 402.6
Income from operations	13.2	32.7	12.4	65.6
Net income (loss)	$ 5.9	$ 23.5	$ (13.3)	$ 43
Net income (loss) per share, basic	$ 0.09	$ 0.33	$ (0.19)	$ 0.62
Net income (loss) per share, diluted	$ 0.09	$ 0.32	$ (0.19)	$ 0.59

Marketable Investment Securit44

Marketable Investment Securities - Schedule of Fair Value for Available-for-Sale Securities by Major Security Type and Class of Security (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	$ 108.1	$ 68.5	$ 134.7	$ 64.1
Amortized cost	218.3	238.4
Gross unrealized holding gains		0.5
Gross unrealized holding losses	(0.3)
Estimated fair value	218	238.9
Amortized cost	218.3	238.4
Estimated fair value	218	238.9
Corporate Bonds and Notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	38.6	50.8
Gross unrealized holding gains		0.2
Gross unrealized holding losses	(0.1)
Estimated fair value	38.5	51
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	55.7	85.4
Gross unrealized holding gains		0.2
Gross unrealized holding losses	(0.1)
Estimated fair value	55.6	85.6
Federal Agency Issues [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	12.6	25.5
Gross unrealized holding losses	(0.1)
Estimated fair value	12.5	25.5
Cash [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	81.3	66.1
Estimated fair value	81.3	66.1
Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	26.8	2.4
Estimated fair value	26.8	2.4
Total Cash and Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	108.1	68.5
Estimated fair value	108.1	68.5
US Government Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized cost	3.3	8.2
Gross unrealized holding gains		0.1
Estimated fair value	$ 3.3	$ 8.3

Marketable Investment Securit45

Marketable Investment Securities - Schedule of Maturities of Debt Securities Classified as Cash Equivalents and Available-For-Sale Securities (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Cash equivalents, Amortized cost	$ 108.1	$ 68.5	$ 134.7	$ 64.1
Due within one year, Amortized cost	54.4
Due after one year through five years, Amortized cost	55.8
Due after five years, Amortized cost	0
Total	218.3	238.4
Due within one year, Estimated fair value	54.4
Due after one year through five years, Estimated fair value	55.5
Due after five years, Estimated fair value	0
Total	218	238.9
Cash [Member]
Schedule of Available-for-sale Securities [Line Items]
Cash equivalents, Amortized cost	81.3	66.1
Cash equivalents, Estimated fair value	81.3	66.1
Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Cash equivalents, Amortized cost	26.8	2.4
Cash equivalents, Estimated fair value	$ 26.8	$ 2.4

Property, Plant and Equipment46

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Land	$ 2.2	$ 2.3
Buildings and improvements	16.1	17.3
Leasehold improvements	20.5	18.7
Equipment	105.8	103.4
Gross property, plant and equipment	144.6	141.7
Less accumulated depreciation	(89.9)	(83.4)
Property, plant and equipment, net	$ 54.7	$ 58.3

Property, Plant and Equipment47

Property, Plant and Equipment, Net - Schedule of Depreciation Expense (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3.6	$ 3.6	$ 7.3	$ 7.2

Goodwill and Intangible Asset48

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 315.4	$ 195.3
Diagnostics [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	250.4
Other [Member]
Goodwill And Intangible Assets [Line Items]
Goodwill	$ 65

Goodwill and Intangible Asset49

Goodwill and Intangible Assets - Summary of Changes to Goodwill Balance (Detail) $ in Millions	6 Months Ended
	Dec. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning balance	$ 195.3
Acquisitions	120.5
Adjustments to acquisitions	0.8
Translation adjustments	(1.2)
Ending balance	$ 315.4

Goodwill and Intangible Asset50

Goodwill and Intangible Assets - Summarized Amounts Reported as Intangible Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	$ 531.2	$ 236.4
Gross Carrying Amount, total intangible assets	552.7	259
Accumulated Amortization	(46.3)	(31.5)
Net, amortizable intangible assets	484.9	204.9
Net, total intangible assets	506.4	227.5
Net, non-amortizable intangible assets	21.5	22.6
In-Process Research and Development [Member]
Intangible Assets [Line Items]
Net, non-amortizable intangible assets	21.5	22.6
Purchased Licenses and Technologies [Member]
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	523.5	228.7
Accumulated Amortization	(43)	(28.5)
Net, amortizable intangible assets	480.5	200.2
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	4.7	4.7
Accumulated Amortization	(2.6)	(2.4)
Net, amortizable intangible assets	2.1	2.3
Trademarks [Member]
Intangible Assets [Line Items]
Gross Carrying Amount, amortizable intangible assets	3	3
Accumulated Amortization	(0.7)	(0.6)
Net, amortizable intangible assets	$ 2.3	$ 2.4

Goodwill and Intangible Asset51

Goodwill and Intangible Assets - Amortization on Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 9.3	$ 3.2	$ 14.8	$ 6.3

Cost Basis Investment - Additio

Cost Basis Investment - Additional Information (Detail) - RainDance [Member] $ in Millions	6 Months Ended
	Dec. 31, 2016USD ($)
Schedule of Cost-method Investments [Line Items]
Impairment on investment	$ 2.5
Cost method investment	2.5
Cost method fair value of investment	$ 5

Accrued Liabilities - Summary o

Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 41	$ 37.3
Accrued taxes payable	3	2.8
Other	13.7	9.4
Total accrued liabilities	$ 57.7	$ 49.5

Short-Term Debt - Additional In

Short-Term Debt - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Aug. 31, 2016
Short-term Debt [Line Items]
Loss on extinguishment of debt	$ 1.3	$ 1.3
Term Loan [Member]
Short-term Debt [Line Items]
Short-term debt			$ 200
Term loan maturity date		Aug. 31, 2017

Long Term Debt - Additional Inf

Long Term Debt - Additional Information (Detail) - USD ($)	Dec. 23, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Long term debt, net		$ 204,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Loans maximum borrowing capacity	$ 300,000,000
Aggregate principal amount of loan	$ 205,000,000
Maturity Date	Dec. 23, 2021
Upfront fees	$ 700,000
Debt issuance costs	300,000
Long term debt, net	204,000,000
Scheduled principal payments prior to maturity date	0
Swingline Loans and Letters of Credit [Member]
Debt Instrument [Line Items]
Sublimits of loan	$ 10,000,000

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Detail) $ in Millions	Dec. 31, 2016USD ($)
Long-term Debt, Unclassified [Abstract]
Long-term debt	$ 205
Long-term debt discount	(1)
Net long-term debt	$ 204

Other Long Term Liabilities - S

Other Long Term Liabilities - Summary of Other Long Term Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016
Other Long Term Liabilities [Line Items]
Contingent consideration	$ 137.1	$ 10.4
Pension obligation	5.8	5.9
Other	3	1.9
Total other long term liabilities	145.9	18.2
Assurex [Member]
Other Long Term Liabilities [Line Items]
Contingent consideration	125.5
Sividon Diagnostics GmbH [Member]
Other Long Term Liabilities [Line Items]
Contingent consideration	$ 11.6	$ 10.4

Other Long Term Liabilities - A

Other Long Term Liabilities - Additional Information (Detail) $ in Millions	Dec. 31, 2016USD ($)plan	Jun. 30, 2016USD ($)
Other Liabilities Disclosure [Abstract]
Number of defined benefit pension plans | plan	2
Fair value of plan assets	$ 0.1
Net pension liability	$ 5.8	$ 5.9

Preferred and Common Stockhol59

Preferred and Common Stockholder's Equity - Additional Information (Detail) - USD ($)	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
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	68,100,000	69,100,000	71,600,000	68,900,000
Common stock, shares outstanding	68,100,000	69,100,000	71,600,000	68,900,000
Share repurchase program, remaining authorized repurchase amount	$ 160,700,000
Eighth Share Repurchase Program [Member]
Class of Stock [Line Items]
Share repurchase program, authorized amount		$ 200,000,000

Preferred and Common Stockhol60

Preferred and Common Stockholder's Equity - Summary of Common Shares Issued and Outstanding (Detail) - shares shares in Millions	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Common stock issued, Beginning balance	69.1	68.9
Common stock outstanding, Beginning balance	69.1	68.9
Common stock issued upon exercise of options and employee stock plans	0.6	4.4
Repurchase and retirement of common stock	(1.6)	(1.7)
Common stock issued, Ending balance	68.1	71.6
Common stock outstanding, Ending balance	68.1	71.6

Preferred and Common Stockhol61

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		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Weighted-average shares outstanding used to compute basic EPS	68.2	70.5	68.5	69.6
Effect of dilutive shares	0.1	3.3	0.4	3.5
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS	68.3	73.8	68.9	73.1

Preferred and Common Stockhol62

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	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2016
Equity [Abstract]
Anti-dilutive options and RSU's excluded from EPS computation	8.7	6.4

Preferred and Common Stockhol63

Preferred and Common Stockholder's Equity - Schedule of Stock Repurchases (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Stockholders Equity [Line Items]
Shares purchased and retired			1.6	1.7
Common stock and additional paid-in-capital reductions	$ 5.4	$ 5.4	$ 14.5	$ 14.9
Charges to retained earnings	$ 4.8	$ 20	$ 17.1	$ 48.5
Common Stock [Member]
Stockholders Equity [Line Items]
Shares purchased and retired	0.6	0.6	1.6	1.7

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income tax expense	$ 6.2	$ 7.9	$ 11.4	$ 21.1
Approximate rate on pre-tax income	51.20%	17.60%	70.80%	23.80%
U.S. federal statutory rate			35.00%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Sep. 30, 2014	Dec. 31, 2016	Dec. 01, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, description		Options and restricted stock units granted to our non-employee directors vest in full upon the earlier of (i) one full year of service on the Board following date of grant or (ii) the date of the next annual meeting of stockholders.
Total unrecognized share-based compensation cost related to stock options		$ 3.3
Stock options [Member]
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		8 months 12 days
Stock options [Member] | Share-based compensation granted after December 5, 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expire from date of grant, years		8 years
Stock options [Member] | Share-based compensation granted prior to December 5, 2012 [Member]
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) [Member]
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 18 days
Total unrecognized share-based compensation cost related to RSUs		$ 41.1
2012 Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares approved		2,000,000
Shares issued under the Plan		900,000
The 2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares approved			2,500,000
Shares reserved for issuance exercise of options		2,700,000
The 2010 Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant		2,400,000
Non Employee Director [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period of share-based compensation vested, years		1 year

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-Based Compensation Arrangement by Share Based Payment Award Options Outstanding (Detail) shares in Millions	6 Months Ended
	Dec. 31, 2016$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options outstanding at beginning of period, Number of shares | shares	8.2
Options granted, Number of shares | shares	0
Options exercised, Number of shares | shares	(0.1)
Options canceled or expired, Number of shares | shares	0
Options outstanding at end of year, Number of shares | shares	8.1
Options exercisable at end of period, Number of shares | shares	7.6
Options outstanding at beginning of period, Weighted average exercise price | $ / shares	$ 24.52
Options granted, Weighted average exercise price | $ / shares	0
Options exercised, Weighted average exercise price | $ / shares	13.39
Options canceled or expired, Weighted average exercise price | $ / shares	0
Options outstanding at end of year, Weighted average exercise price | $ / shares	24.60
Options exercisable at end of period, Weighted average exercise price | $ / shares	$ 24.46

Share-Based Compensation - Sc67

Share-Based Compensation - Schedule of Share-Based Compensation Arrangement by Share Based Payment Award Restricted Stock Units Outstanding (Detail) - Restricted Stock Units (RSUs) [Member] shares in Millions	6 Months Ended
	Dec. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs outstanding at beginning of period, Number of shares | shares	1.4
RSUs granted, Number of shares | shares	1.1
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	2.1
RSUs outstanding at beginning of period, Weighted average grant date fair value | $ / shares	$ 38.76
RSUs granted, Weighted average grant date fair value | $ / shares	21.47
RSUs vested, Weighted average grant date fair value | $ / shares	20.26
RSUs canceled, Weighted average grant date fair value | $ / shares	0
RSUs outstanding at end of period, Weighted average grant date fair value | $ / shares	$ 33.30

Share-Based Compensation - Sc68

Share-Based Compensation - Schedule of Share-Based Compensation Recognized in Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 7.4	$ 7.7	$ 15.2	$ 16.3
Molecular Diagnostic Testing Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	0.3	0.3	0.4	0.5
Pharmaceutical and Clinical Services Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	0	0.1	0.1	0.2
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	1.4	1.2	3	2.8
Selling, General, and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expense	$ 5.7	$ 6.1	$ 11.7	$ 12.8

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Assets (Detail) - USD ($) $ in Millions		Dec. 31, 2016	Jun. 30, 2016
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets and liability		$ (204.3)	$ 162.4
Long-term Debt [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial liability		(204)
Contingent Consideration [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial liability		(137.1)	(10.4)
Money Market Funds [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets	[1]	26.9	2.4
Corporate Bonds and Notes [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		38.6	51
Municipal Bonds [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		55.5	85.6
Federal Agency Issues [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		12.5	25.5
US Government Securities [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		3.3	8.3
Level 1 [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets and liability		26.9	2.4
Level 1 [Member] | Money Market Funds [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets	[1]	26.9	2.4
Level 2 [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets and liability		109.9	170.4
Level 2 [Member] | Corporate Bonds and Notes [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		38.6	51
Level 2 [Member] | Municipal Bonds [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		55.5	85.6
Level 2 [Member] | Federal Agency Issues [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		12.5	25.5
Level 2 [Member] | US Government Securities [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets		3.3	8.3
Level 3 [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial assets and liability		(341.1)	(10.4)
Level 3 [Member] | Long-term Debt [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial liability		(204)
Level 3 [Member] | Contingent Consideration [Member]
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]
Total fair value of financial liability		$ (137.1)	$ (10.4)
[1]	Money market funds are primarily comprised of exchange traded funds and accrued interest

Fair Value Measurement - Change

Fair Value Measurement - Change in Fair Value of Contingent Consideration (Detail) $ in Millions	6 Months Ended
	Dec. 31, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Balance June 30, 2016	$ 10.4
Purchases	130
Adjustments to purchase accounting	0.5
Change in fair value recognized in the income statement	(3.3)
Translation adjustments recognized in other comprehensive income	(0.5)
Ending balance December 31, 2016	$ 137.1

Employee Deferred Savings Pla71

Employee Deferred Savings Plan - Additional Information (Detail)	6 Months Ended
	Dec. 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 Pla72

Employee Deferred Savings Plan - Company's Recorded Contributions To Plan (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Deferred savings plan contributions	$ 1.4	$ 1.2	$ 3	$ 2.7

Segment and Related Informati73

Segment and Related Information - Additional Information (Detail)	6 Months Ended
	Dec. 31, 2016Segment
Segment Reporting [Abstract]
Number of reportable segment	2

Segment and Related Informati74

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		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues	$ 196.5	$ 193.3	$ 373.9	$ 376.8
Depreciation and amortization	13	6.8	22.1	13.5
Segment operating income (loss)	13.2	45.2	19.4	88.5
Diagnostics [Member]
Segment Reporting Information [Line Items]
Revenues	183.9	182.6	348.9	354.5
Depreciation and amortization	11.5	5.5	19.3	10.9
Segment operating income (loss)	32.1	64.6	63.1	127
Other [Member]
Segment Reporting Information [Line Items]
Revenues	12.6	10.7	25	22.3
Depreciation and amortization	1.5	1.3	2.8	2.6
Segment operating income (loss)	$ (18.9)	$ (19.4)	$ (43.7)	$ (38.5)

Segment and Related Informati75

Segment and Related Information - Schedule of Total Operating Income for Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting [Abstract]
Total operating income for reportable segments	$ 13.2	$ 45.2	$ 19.4	$ 88.5
Interest income	0.3	0.1	0.6	0.2
Interest expense	(2.6)	(0.1)	(3.3)	(0.1)
Other	1.2	(0.2)	(0.6)
Income before income tax	12.1	45	16.1	88.6
Income tax provision	6.2	7.9	11.4	21.1
Net income	$ 5.9	$ 37.1	$ 4.7	$ 67.5

Supplemental Cash Flow Inform76

Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Cash paid during the period for income taxes	$ 8	$ 28.5
Non-cash investing and financing activities:
Fair value adjustment on marketable investment securities recorded to other stockholder's equity	$ (0.8)	$ (0.1)