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Post-employment benefits (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure Of Information About Post Employment Benefits [Abstract]  
Summary of Additional Details on Defined Benefit Plans Funded Status
The following table provides additional details on the defined benefit plans’ funded status (in USD thousands):
December 31,
20232022
Present value of defined benefit obligation$(23,013)$(19,252)
Fair value of plan assets19,927 16,577 
Net pension liability$(3,086)$(2,675)
Summary of Movement in Defined Benefit Obligation Explanatory
The following table presents the movement in the defined benefit obligation (in USD thousands):
20232022
FundedUnfundedTotalFundedUnfundedTotal
January 1$(19,221)$(31)$(19,252)$(17,686)$(203)$(17,889)
Service Cost(1,311)(10)(1,321)(1,759)(90)(1,849)
of which current service cost(1,748)(10)(1,758)(1,873)(90)(1,963)
of which past service cost including effects from curtailment437 — 437 114 — 114 
Interest expense(413)(1)(414)(154)(2)(156)
Actuarial gains (losses)401 2 403 2,110 250 2,360 
Actual plan participants’ contributions(1,441)— (1,441)(1,361)— (1,361)
Transfers (in) out due to (joiners) leavers1,037 — 1,037 (551)— (551)
Currency translation differences(2,024)(1)(2,025)180 14 194 
December 31$(22,972)$(41)$(23,013)$(19,221)$(31)$(19,252)
The table below presents the sensitivity analysis for the unfunded plans (in USD thousands):
20232022
Discount rates
Increase of 50 basis points
(3)(2)
Decrease of 50 basis points
3 2 
Expected rates of salary increases
Increase of 50 basis points
3 3 
Decrease of 50 basis points
(3)(2)
Summary of Movement in Defined Benefit Plans Assets
The following table presents the movement in the defined benefit plans’ assets (in USD thousands):
20232022
As of January 1$16,577 $13,436 
Interest income387 125 
Return on plan assets, excl. interest income(654)(204)
Administrative expenses(70)(71)
Employer contributions1,531 1,452 
Employee contributions1,441 1,361 
Transfers in (out) due to joiners (leavers)(1,037)551 
Currency translation differences1,752 (73)
As of December 31$19,927 $16,577 
Summary of Defined Benefit Plans Assets
The following table presents the defined benefit plan assets, which include the following (in USD thousands):
December 31,
20232022
Cash$528 $664 
Insurance policies19,399 15,913 
Total$19,927 $16,577 
Summary of Pension Costs Recognized in Statement of Loss
The follow table presents the pension costs recognized in statement of loss (in USD thousands):
December 31,
202320222021
FundedUnfundedTotalFundedUnfundedTotalFundedUnfundedTotal
Service cost$(1,311)$(10)$(1,321)$(1,759)$(90)$(1,849)$(1,054)$(80)$(1,134)
Interest cost(413)(1)(414)(154)(2)(156)(49)(1)(50)
Total recognized$(1,724)$(11)$(1,735)$(1,913)$(92)$(2,005)$(1,103)$(81)$(1,184)
Summary of Pension Remeasurement Recognized in Statement Other Comprehensive Loss
The follow table presents the pension remeasurement recognized in statement of other comprehensive loss (in USD thousands):
December 31,
202320222021
FundedUnfundedTotalFundedUnfundedTotalFundedUnfundedTotal
Changes in demographic assumptions$700 $— $700 $— $223 $223 $1,278 $— $1,278 
Changes in financial assumptions(901)(2)(903)2,311 12 2,323 37 13 50 
Experience adjustments602 4 606 (201)15 (186)(844)13 (831)
Total actuarial gains (losses)401 2 403 2,110 250 2,360 471 26 497 
Return on plan assets(654)— (654)(204)— (204)(32)— (32)
Currency translation differences37 2 39 (4)2 (2)(4)— (4)
Total recognized$(216)$4 $(212)$1,902 $252 $2,154 $435 $26 $461 
Summary of Sensitivity Analysis for Funded and Unfunded Plans
The table below presents the sensitivity analysis for the funded plans (in USD thousands):
20232022
Discount rates
Increase of 25 basis points
(464)(426)
Decrease of 25 basis points
500 467 
Expected rates of salary increases
Increase of 25 basis points
91 110 
Decrease of 25 basis points
(98)(107)
Interest rate
Increase of 25 basis points
160 150 
Decrease of 25 basis points
(157)(146)
Inflation
Increase of 25 basis points
91 102 
Decrease of 25 basis points
(90)(99)
Life expectancy
Increase of 1 year
92 71 
Decrease of 1 year
(92)(71)