Net pension assets (Tables)

12 Months Ended

Dec. 31, 2017


	2017			2016
Pension assets	$	23,794		$	25,946

Post-employment benefits		(19,997	)		(16,498	)
Other employee benefits		(612	)		(622	)

Total employee benefits liability	$	(20,609	)	$	(17,120	)

Net pension asset	$	3,185		$	8,826

Summary of Components of Net Benefit Expense

The following table summarizes the components of net benefit expense included under “Wages, salaries, benefits and other employees ‘expenses” in the accompanying consolidated statement of profit or loss:


	Defined benefit obligation			Fair value of assets		Defined benefit assets (liability)
Year ended December 31, 2017
Current service cost		(1,767	)		—		(1,767	)
Interest cost on net benefit obligation		(568	)		778		210

Net benefit expense	$	(2,335	)	$	778	$	(1,557	)


	Defined benefit obligation			Fair value of assets		Defined benefit assets (liability)
Year ended December 31, 2016
Current service cost		(1,724	)		—		(1,724	)
Interest cost on net benefit obligation		(516	)		689		173

Net benefit expense	$	(2,240	)	$	689	$	(1,551	)


	Defined benefit obligation			Fair value of assets		Defined benefit assets (liability)
Year ended December 31, 2015
Current service cost		(1,638	)		—		(1,638	)
Interest cost on net benefit obligation		(422	)		532		110

Net benefit expense	$	(2,060	)	$	532	$	(1,528	)

Summary of Reconciliation of Net Pension Asset

The following table shows reconciliation from the opening balance to the closing balances for net pension asset and its components:


	Defined benefit obligation			Fair value of assets			Other employee benefits liability			Defined benefit assets (liability)
At January 1, 2015	$	(12,778	)	$	18,559		$	(3,259	)	$	2,522
Current service cost		(1,638	)		—			—			(1,638	)
Interest cost		(422	)		532			—			110
Return on plan assets greater (less) than discount rate		—			701						701
Experience (gain) loss		(809	)		—			—			(809	)
Investment return		—			105			—			105
Gross benefits paid		—			(599	)		—			(599	)
Assumption changes		222			—			—			222
Employer contributions		—			3,749			—			3,749
Benefits paid		957			(774	)		—			183
Adjustments		—			—			1,504			1,504

At December 31, 2015	$	(14,468	)	$	22,273		$	(1,755	)	$	6,050
Current service cost		(1,724	)		—			—			(1,724	)
Interest (cost) income		(516	)		689			—			173
Return on plan assets greater (less) than discount rate		—			518						518
Experience gain (loss)		(1,052	)		—			—			(1,052	)
Investment return		—			27			—			27
Gross benefits paid		—			(513	)		—			(513	)
Assumption changes		(67	)		—			—			(67	)
Employer contributions		—			3,970			—			3,970
Benefits paid		1,329			(1,018	)		(75	)		236
Adjustments		—			—			1,208			1,208

As of December 31, 2016	$	(16,498	)	$	25,946		$	(622	)	$	8,826
Current service cost		(1,767	)		—			—			(1,767	)
Interest (cost) income		(568	)		778			—			210
Return on plan assets greater (less) than discount rate		—			(21	)		—			(21	)
Experience gain (loss)		(2,033	)		—			—			(2,033	)
Investment return		—			88			—			88
Gross benefits paid		—			(440	)		—			(440	)
Assumption changes		(226	)		—			—			(226	)
Employer contributions		—			(1,677	)		—			(1,677	)
Benefits paid		1,095			(880	)		—			215
Adjustments		—			—			10			10

As of December 31, 2017	$	(19,997	)	$	23,794		$	(612	)	$	3,185

Summary of Sensitivity Analysis for Actuarial Assumptions

The following were the principal actuarial assumptions at the reporting date:


	2017			2016			2015
Economic assumptions -
Discount rate		3.15	%		3.37	%		3.45	%
Compensation - salary increase		4	%		4	%		4	%
Demographic assumptions -
Mortality		RP - 2000 no collar
Termination		13% all ages
Retirement
Males		62 years
Females		57 years

Summary of Additional Information about Sensitivity Analysis for Actuarial Assumptions

Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amount shown below:


	December, 31 2017						December, 31 2016						December, 31 2015
	Increase			Decrease			Increase			Decrease			Increase			Decrease
Discount rate (0.5% movement)	$	(506	)	$	537		$	(410	)	$	434		$	(366	)	$	388
Salary rate (0.5% movement)		99			(89	)		122			(117	)		114			(109	)

Summary of Expected Contribution Payments to Defined Benefit Plan

The following payments are expected contributions to the defined benefit plan in future years:


	2017		2016
Up to one year	$	3,424	$	2,823
One to five years		10,794		9,195
Over five years		11,401		9,453

Total expected payments	$	25,619	$	21,471