Summary by Moomoo AI
Illumina, Inc. has filed an amendment to its previous Current Report on Form 8-K, disclosing additional impairment charges related to its real estate downsizing. The company reported $43 million in impairment charges in Q4 2023 for exiting part of its Foster City campus and an additional $32 million in Q1 2024 for further reductions in Foster City and another property in San Diego. These charges, recognized in selling, general and administrative expenses, bring the total remaining assets related to these locations to approximately $142 million as of March 31, 2024. Illumina continues to evaluate its options for these properties and may incur further charges, the details of which are currently indeterminable. The company has stated that any significant future costs will be reported in an amendment to the Current Report on Form 8-K and that these charges will be excluded from non-GAAP financial metrics.