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Segment and Related Information
12 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Segment and Related Information

16.

SEGMENT AND RELATED INFORMATION

The Company’s business units have been aggregated into two reportable segments: (i) diagnostics and (ii) other. The diagnostics segment primarily 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. Prior periods presented have been recast to conform to the current presentation.  

The accounting policies of the segments are the same as those described in the summary of significant accounting policies (Note 1). The Company evaluates segment performance based on income (loss) before interest income and other income and expense.

 

 

 

Diagnostics

 

 

Other

 

 

Total

 

Year ended June 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

719.3

 

 

$

53.3

 

 

$

772.6

 

Depreciation and amortization

 

 

49.2

 

 

 

5.2

 

 

 

54.4

 

Segment operating income (loss)

 

 

139.4

 

 

 

(20.7

)

 

 

118.7

 

Year ended June 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

720.6

 

 

$

49.3

 

 

$

769.9

 

Depreciation and amortization

 

 

42.8

 

 

 

5.5

 

 

 

48.3

 

Segment operating income (loss)

 

 

129.4

 

 

 

(80.7

)

 

 

48.7

 

Year ended June 30, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

692.4

 

 

$

48.1

 

 

$

740.5

 

Depreciation and amortization

 

 

21.6

 

 

 

5.2

 

 

 

26.8

 

Segment operating income (loss)

 

 

225.9

 

 

 

(72.5

)

 

 

153.4

 

 

 

 

Years Ended June 30,

 

 

 

2018

 

 

2017

 

 

2016

 

Total operating income for reportable segments

 

$

118.7

 

 

$

48.7

 

 

$

153.4

 

Unallocated amounts:

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

1.8

 

 

 

1.2

 

 

 

0.9

 

Interest Expense

 

 

(3.2

)

 

 

(6.0

)

 

 

(0.3

)

Other

 

 

(0.4

)

 

 

(3.0

)

 

 

2.0

 

Income from operations before income taxes

 

 

116.9

 

 

 

40.9

 

 

 

156.0

 

Income tax provision

 

 

(14.0

)

 

 

20.6

 

 

 

38.8

 

Net income

 

 

130.9

 

 

 

20.3

 

 

 

117.2

 

Net loss attributable to non-controlling interest

 

 

(0.2

)

 

 

(0.2

)

 

 

 

Net income attributable to Myriad Genetics, Inc. stockholders

 

$

131.1

 

 

$

20.5

 

 

$

117.2

 

 

The following table sets forth a comparison of balance sheet assets by operating segment:

 

 

 

June 30,

 

 

 

2018

 

 

2017

 

Net equipment, leasehold improvements and property:

 

 

 

 

 

 

 

 

Diagnostics

 

 

12.2

 

 

 

20.2

 

Other

 

 

31.0

 

 

 

30.9

 

Total

 

$

43.2

 

 

$

51.1

 

Total Assets:

 

 

 

 

 

 

 

 

Diagnostics

 

 

840.3

 

 

 

885.4

 

Other

 

 

122.5

 

 

 

124.3

 

Total

 

$

962.8

 

 

$

1,009.7

 

 

The following table reconciles assets by geographical region:

 

 

 

June 30,

 

 

 

2018

 

 

2017

 

Net equipment, leasehold improvements and property:

 

 

 

 

 

 

 

 

United States

 

 

20.0

 

 

 

27.6

 

Rest of world

 

 

23.2

 

 

 

23.5

 

Total

 

$

43.2

 

 

$

51.1

 

Total Assets:

 

 

 

 

 

 

 

 

United States

 

 

852.3

 

 

 

897.3

 

Rest of world

 

 

110.5

 

 

 

112.4

 

Total

 

$

962.8

 

 

$

1,009.7

 

 

The following table reconciles assets by operating segment and geographic region to total assets:

 

 

 

June 30,

 

 

 

2018

 

 

2017

 

Total assets by segment and geographical region

 

$

962.8

 

 

$

1,009.7

 

Cash, cash equivalents, and marketable investment

   securities (1)

 

 

211.3

 

 

 

199.2

 

Total

 

$

1,174.1

 

 

$

1,208.9

 

 

(1)

The Company manages cash, cash equivalents, and marketable investment securities at the consolidated level for all segments

The majority of the Company’s revenues were derived from the sale of diagnostic tests in the United States. There were no customers that accounted for greater than 10% of revenue in the years ended June 30, 2018, 2017 and 2016.