Illumina Files 8-K/A Amending Prior Exit/Disposal Cost Report
Ticker: ILMN · Form: 8-K/A · Filed: Jan 9, 2024 · CIK: 1110803
| Field | Detail |
|---|---|
| Company | Illumina, INC. (ILMN) |
| Form Type | 8-K/A |
| Filed Date | Jan 9, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $182 million, $43 million |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: amendment, administrative, corporate-governance
TL;DR
**ILMN filed an 8-K/A, just an administrative update to a prior report, no new news.**
AI Summary
Illumina, Inc. (ILMN) filed an 8-K/A on January 9, 2024, amending a previous report from June 21, 2023, regarding 'Cost Associated with Exit or Disposal Activities.' This filing is an administrative update, not a new event, and primarily serves to correct or clarify information related to the original report. For investors, this means there's no new operational or financial news, but rather a refinement of past disclosures, which is generally a neutral event unless the original disclosure was significantly misleading.
Why It Matters
This filing is an administrative amendment to a previous report, indicating a correction or clarification rather than new financial or operational news. It matters to investors as it ensures the accuracy of past disclosures, which is crucial for informed decision-making.
Risk Assessment
Risk Level: low — This is an amendment to a previous filing, typically for clarification or correction, and does not introduce new operational or financial risks.
Analyst Insight
A smart investor would note this as an administrative update, not new news. No immediate action is required based solely on this 8-K/A, but it reinforces the importance of reviewing original filings for full context.
Key Numbers
- 001-35406 — Commission File Number (Illumina's unique identifier with the SEC)
- 33-0804655 — I.R.S. Employer Identification No. (Illumina's tax identification number)
- 858-202-4500 — Registrant's telephone number (Illumina's business contact number)
Key Players & Entities
- Illumina, Inc. (company) — the registrant filing the 8-K/A
- ILMN (company) — Illumina's trading symbol on The NASDAQ Global Select Market
- June 21, 2023 (date) — date of the earliest event reported in the original filing being amended
- January 9, 2024 (date) — date the 8-K/A was filed
- 5200 Illumina Way, San Diego, CA 92122 (company) — Illumina's principal executive offices address
FAQ
What is the purpose of this 8-K/A filing by Illumina, Inc.?
This 8-K/A filing by Illumina, Inc. is an amendment to a previous Current Report on Form 8-K, with the earliest event reported on June 21, 2023. It serves to update or correct information related to 'Cost Associated with Exit or Disposal Activities' as initially reported.
When was the original event reported that this 8-K/A is amending?
The original event that this 8-K/A is amending was reported on June 21, 2023, as indicated by the 'Date of Report (Date of earliest event reported): June 21, 2023' in the filing.
What specific item information is being addressed in this 8-K/A filing?
The specific item information being addressed in this 8-K/A filing is 'Cost Associated with Exit or Disposal Activities,' as stated under 'ITEM INFORMATION' in the filing's header.
What is Illumina, Inc.'s trading symbol and on which exchange is it registered?
Illumina, Inc.'s trading symbol is ILMN, and its Common Stock, $0.01 par value, is registered on The NASDAQ Global Select Market, as specified under 'Securities registered pursuant to Section 12(b) of the Act'.
What is the central index key (CIK) for Illumina, Inc.?
The central index key (CIK) for Illumina, Inc. is 0001110803, as listed under 'FILER: COMPANY DATA' in the filing's header.
Filing Stats: 842 words · 3 min read · ~3 pages · Grade level 13 · Accepted 2024-01-09 17:21:56
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value ILMN The NASDAQ Global Select
- $182 million — its Foster City campus of approximately $182 million. The Company expected to incur charges
- $43 million — ent impairment charges of approximately $43 million in the fourth fiscal quarter of 2023 re
Filing Documents
- ilmn-20230621.htm (8-K/A) — 25KB
- ilmn-20230621_g1.jpg (GRAPHIC) — 7KB
- 0001110803-24-000004.txt ( ) — 166KB
- ilmn-20230621.xsd (EX-101.SCH) — 2KB
- ilmn-20230621_lab.xml (EX-101.LAB) — 23KB
- ilmn-20230621_pre.xml (EX-101.PRE) — 12KB
- ilmn-20230621_htm.xml (XML) — 3KB
05 Costs Associated with Exit or Disposal Activities
Item 2.05 Costs Associated with Exit or Disposal Activities . In Amendment No. 1 filed on November 13, 2023, the Company noted that, as of October 1, 2023, the Company had assets, consisting primarily of right-of-use assets and leasehold improvements, related to its Foster City campus of approximately $182 million. The Company expected to incur charges in connection with exiting a portion of the Foster City campus, but was not then able to provide an estimate of the timing or amount of charges or the potential cash outlay it would incur in connection with these events. During Q4 2023, the Company exited a portion of the Foster City campus, and now estimates that it will incur right-of-use asset and leasehold improvement impairment charges of approximately $43 million in the fourth fiscal quarter of 2023 related to this exit. The Company continues to evaluate its options with respect to the rest of its campus in Foster City, California. The Company may incur additional charges in connection with any further exit from the Foster City campus, but currently is not able to provide an estimate of the timing or amount of charges or the potential cash outlay it may incur. The Company will file an amendment to this Current Report on Form 8-K, as necessary, if such costs are material and when such costs become estimable. These charges will be excluded from non-GAAP financial metrics. Use of forward-looking statements This Current Report on Form 8-K contains forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) our ability to successfully implement in a timely manner cost reduction plans and (ii) the possibility that costs associated with our cost reduction plans are greater than we anticipate, together with other factors detailed in our filings with the Securities and Exchange Commission, includ
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ILLUMINA, INC. Date: January 9, 2024 By: /s/ JOYDEEP GOSWAMI Name: Joydeep Goswami Title: Chief Financial Officer, Chief Strategy and Corporate Development Officer