(16) |
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 March 31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
$ |
200.5 |
|
|
$ |
16.1 |
|
|
$ |
216.6 |
|
Depreciation and amortization |
|
|
17.0 |
|
|
|
1.3 |
|
|
|
18.3 |
|
Segment operating income (loss) |
|
|
40.6 |
|
|
|
(34.7 |
) |
|
|
5.9 |
|
Three months ended March 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
$ |
169.3 |
|
|
$ |
13.8 |
|
|
$ |
183.1 |
|
Depreciation and amortization |
|
|
11.7 |
|
|
|
1.2 |
|
|
|
12.9 |
|
Segment operating income |
|
|
34.7 |
|
|
|
(20.9 |
) |
|
|
13.8 |
|
Nine months ended March 31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
$ |
592.5 |
|
|
$ |
43.2 |
|
|
$ |
635.7 |
|
Depreciation and amortization |
|
|
50.7 |
|
|
|
3.9 |
|
|
|
54.6 |
|
Segment operating income |
|
|
96.6 |
|
|
|
(83.4 |
) |
|
|
13.2 |
|
Nine months ended March 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
$ |
509.7 |
|
|
$ |
40.1 |
|
|
$ |
549.8 |
|
Depreciation and amortization |
|
|
35.4 |
|
|
|
3.9 |
|
|
|
39.3 |
|
Segment operating income (loss) |
|
|
101.8 |
|
|
|
2.5 |
|
|
|
104.3 |
|
|
|
Three months ended |
|
|
Nine months ended |
|
|
|
March 31, |
|
|
March 31, |
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
Total operating income for reportable segments |
|
$ |
5.9 |
|
|
$ |
13.8 |
|
|
$ |
13.2 |
|
|
$ |
104.3 |
|
Unallocated amounts: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
0.7 |
|
|
|
0.5 |
|
|
|
2.3 |
|
|
|
1.2 |
|
Interest expense |
|
|
(3.2 |
) |
|
|
(0.5 |
) |
|
|
(8.8 |
) |
|
|
(2.2 |
) |
Other |
|
|
(0.1 |
) |
|
|
(0.5 |
) |
|
|
1.0 |
|
|
|
(1.3 |
) |
Income from operations before income taxes |
|
|
3.3 |
|
|
|
13.3 |
|
|
|
7.7 |
|
|
|
102.0 |
|
Income tax provision |
|
|
(3.6 |
) |
|
|
4.3 |
|
|
|
(1.0 |
) |
|
|
(16.7 |
) |
Net income (loss) |
|
|
6.9 |
|
|
|
9.0 |
|
|
|
8.7 |
|
|
|
118.7 |
|
Net loss attributable to non-controlling interest |
|
|
— |
|
|
|
(0.1 |
) |
|
|
(0.1 |
) |
|
|
(0.2 |
) |
Net income (loss) attributable to Myriad Genetics, Inc.
stockholders |
|
$ |
6.9 |
|
|
$ |
9.1 |
|
|
$ |
8.8 |
|
|
$ |
118.9 |
|
|