AI English summary of an SEC filing — figures as filed

Illumina said its goodwill and IPR&D impairment testing shows it estimates a goodwill impairment charge in Q2 2024, equal to the full remaining carrying value of GRAIL-related goodwill as of March 31, 2024, of $1,466 million.

8-K/ACosts Associated with Exit or Disposal Activities (amended)Amended filingFiled Jun 27, 2024Period of report Jun 3, 2024Summary published (UTC) Oct 29, 2026

Key points

AI summary

Illumina said its goodwill and IPR&D impairment testing shows it estimates a goodwill impairment charge in Q2 2024, equal to the full remaining carrying value of GRAIL-related goodwill as of March 31, 2024, of $1,466 million.
The company said it estimates an impairment charge of $420 million on the GRAIL IPR&D intangible asset in Q2 2024.
The company said it does not expect any material future cash expenditures related to these impairments, and it explained that the charges will be excluded from non-GAAP financial metrics.
The company said it filed this 8-K/A on June 3, 2024 as a correction to the Original 8-K it filed, to disclose its judgment on impairment charge estimates related to the Spin-Off under Item 2.05(d) of Form 8-K. It said no other changes were made to the Original 8-K.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

GRAIL goodwill impairment charge estimate $1,466 million

Illumina said its goodwill and IPR&D impairment testing shows it estimates a goodwill impairment charge in Q2 2024, equal to the full remaining carrying value of GRAIL-related goodwill as of March 31, 2024, of $1,466 million.

Source · Based on the filing body and exhibits

GRAIL IPR&D intangible asset impairment charge estimate $420 million

The company said it estimates an impairment charge of $420 million on the GRAIL IPR&D intangible asset in Q2 2024.

Source · Based on the filing body and exhibits

Cash expenditures and non-GAAP treatment of impairment charges

The company said it does not expect any material future cash expenditures related to these impairments, and it explained that the charges will be excluded from non-GAAP financial metrics.

Source · Based on the filing body and exhibits

Purpose of Form 8-K/A: disclosure of Spin-Off-related estimates

The company said it filed this 8-K/A on June 3, 2024 as a correction to the Original 8-K it filed, to disclose its judgment on impairment charge estimates related to the Spin-Off under Item 2.05(d) of Form 8-K. It said no other changes were made to the Original 8-K.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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