Print Page     Close Window     
20-F
MESOBLAST LTD filed this Form 20-F on 08/31/2018
Entire Document
 

(iii) Amounts recognized in other comprehensive income

For the years ended June 30, 2018, 2017 and 2016, the Group recognized in statement of comprehensive income a gain of $0.3 million, a gain of $Nil and a loss of $0.3 million respectively, for change in fair value of the available-for-sale financial assets.  

(iv) Fair value, impairment and risk exposure

Information about the methods and assumptions used in determining fair value is provided in Note 5(g). None of the available-for-sale financial assets are either past due or impaired.

All available-for-sale financial assets are denominated in USD.

d.

Other non-current assets

 

 

 

As of June 30,

 

(in U.S. dollars, in thousands)

 

2018

 

 

2017

 

Bank Guarantee

 

 

710

 

 

 

738

 

Letter of Credit

 

 

1,178

 

 

 

1,178

 

U.S. Tax credits

 

 

1,473

 

 

 

 

 

 

 

3,361

 

 

 

1,916

 

 

(i) Classification of financial assets as other non-current assets

Bank guarantee

These funds are held in an account named Mesoblast Limited at National Australia Bank according to the terms of a Bank Guarantee which is security for the sublease agreement for our occupancy of Level 38, 55 Collins Street, Melbourne, Victoria, Australia. The Bank Guarantee is security for the full and faithful performance and observance by the subtenant of the terms, covenants and conditions of the sublease. The Bank Guarantee continues in force until it is released by the lessor.

Letter of credit

These funds held in an account named Mesoblast, Inc. at the Bank of America according to the terms of an irrevocable standby letter of credit which is security for the sublease agreement for our occupancy of 505 Fifth Avenue, New York, New York, United States of America. The letter of credit is security for the full and faithful performance and observance by the subtenant of the terms, covenants and conditions of the sublease. The letter of credit is deemed to automatically extend without amendment for a period of one year at each anniversary but will not automatically extend beyond the final expiration of July 31, 2021.

U.S. Tax credits

These funds are receivable from the Internal Revenue Service (“IRS”) as a result of the changes in the U.S. corporate income tax legislation with the Tax Act which was signed into law in December 2017. Tax credits arising from the Alternative Minimum Tax (“AMT”) regime have become refundable in 2021.

(ii) Impairment and risk exposure

No other non-current assets are either past due or impaired.

e.

Trade and other payables

 

 

 

As of June 30,

 

(in U.S. dollars, in thousands)

 

2018

 

 

2017

 

Trade payables and other payables

 

 

18,921

 

 

 

21,805

 

Trade and other payables

 

 

18,921

 

 

 

21,805

 

 

The carrying amounts of trade and other payables are assumed to be the same as their fair values, due to their short-term nature.

165

 



Copyright © 2015 Mesoblast Inc.