Accumulated(deficit)/surplusUS$’000
100
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
101
102
103
104
ix)
105
106
107
xix)
108
109
110
111
112
113
114
115
116
117
118
119
120
121
Other items comprise items not chargeable to tax and expenses not deductible for tax purposes. This was a significant number in 2021 because the US$4.7 million income from the Paycheck Protection Program loans was not chargeable for tax purposes. There is no Paycheck Protection Program income in 2022. In 2022, other items mainly relate to the loss on disposal of the exchangeable notes.
122
123
124
Selling, General and Administrative Expenses – Closure Costs - in early 2020, management decided to close a production facility in Carlsbad, California facility which specialized in Western Blot manufacturing. The preceding number of years had seen a steady migration of customers away from using the Western Blot testing format for diagnosing Lyme in favour of alternative testing platforms. Production volumes declined steadily at the plant to the extent that it no longer made economic sense to continue. The plant was closed on June 30, 2020. Production of remaining products was transferred to other locations in the Group. The charge for closing the facility was US$2,425,000 which comprised redundancy costs, the write-off of inventory, the cost of exiting lease obligations and other costs associated with the closure of the facility.
125
126
127
128
129
130
131
132
Premier Instruments for A1c and haemoglobinopathies testing
133
134
135
136
Assets
Liabilities
Net
)
137
138
139
140
(ii) Operating lease commitments – Group as lessor
December 31,
2022
2021
141
142
143
144
1.07-1.14
0.77-0.77
145
11,203,668
3,534,501
146
The fair value of services received in return for share options granted are measured by reference to the fair value of share options granted. The estimate of the fair value of services received is measured based on a Black-Scholes model. The following are the input assumptions used in determining the fair value of share options granted in 2022, 2021 and 2020:
147
148
149
150
The movement in the derivative financial liability in the year ended December 31, 2022 was as follows:
The movement in the derivative financial asset in the year ended December 31, 2022 was as follows:
151
December 31, 2022US$’000
-
152
153
154
Trinity Biotech and its directors (excepting Mr O’Caoimh and Dr Walsh who express no opinion on this point) believe at the time that the arrangements were entered into represented a fair and reasonable basis on which the Group could meet its ongoing requirements for premises. Dr Walsh has no ownership interest in the additional space adjoining the warehouse owned by Mr O’Caoimh and was therefore entitled to express an opinion on this arrangement.
155
156
For financial reporting purposes, fair value measurements are categorized into Level 1, 2 or 3 based on the degree to which inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:
157
The valuation techniques used for instruments categorised as level 2 are described below:
158
159
Short-term deposits
3,120
¹ The contractual cash flows of interest on the senior secured term loan is estimated based on the prevailing interest rate at December 31, 2022
160
161
162
163
164
165
Note
Borrowings & derivative financial instrumentsUS$’000
Lease liabilitiesUS$’000
84,065
18,741
166
167
168
169
170
171