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Net defined benefit assets (liability) (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure of net defined benefit liability (asset) [abstract] |
Summary of Employee Defined Benefit Plan |
| 2024 |  | 2023
Fair value of plan assets | $ | 42,488 |  |  | $ | 37,159 |
Defined benefit obligation | (41,042) |  |  | (31,440) |
Other employee benefits | (388) |  |  | (373) |
| $ | (41,430) |  |  | $ | (31,813) |
Net defined benefit asset | $ | 1,058 |  |  | $ | 5,346 |
Summary of Details of Defined Benefit Plans | Seniority premium plan: is a contingent liability that companies must pay to their employees according to article 224 of Panama’s Labor Code according to the following:
Eligibility: | All employees
Benefit: | One week of salary per years of service
Salary: | Average of the 5 prior years of the monthly base salary
Payment: | Lump sum
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:
Year ended December 31,2024 | Defined benefit obligation |  | Fair value of assets |  | Defined benefit assets (liability)
Current service cost | $ | 2,690 |  |  | $ | — |  |  | $ | 2,690 |
Interest cost on net benefit obligation | 2,015 |  |  | (2,205) |  |  | (190) |
Past service cost | 62 |  |  | — |  |  | 62 |
Net periodic benefit cost (income) | $ | 4,767 |  |  | $ | (2,205) |  |  | $ | 2,562 |
Year ended December 31,2023 | Defined benefit obligation |  | Fair value of assets |  | Defined benefit assets (liability)
Current service cost | 2,725 |  |  | $ | — |  |  | $ | 2,725 |
Interest cost on net benefit obligation | 1,715 |  |  | (1,641) |  |  | 74 |
Past service cost | 13 |  |  | — |  |  | 13 |
Net periodic benefit cost (income) | $ | 4,453 |  |  | $ | (1,641) |  |  | $ | 2,812 |
Year ended December 31,2022 | Defined benefit obligation |  | Fair value of assets |  | Defined benefit assets (liability)
Current service cost | 2,860 |  |  | — |  |  | 2,860 |
Interest cost on net benefit obligation | 972 |  |  | (722) |  |  | 250 |
Past service cost | 16 |  |  | — |  |  | 16 |
Net periodic benefit cost (income) | $ | 3,848 |  |  | $ | (722) |  |  | $ | 3,126 |
Summary of Reconciliation of Net Employee Defined Benefit Liabilities | The following table shows reconciliation from the opening balance to the closing balances for net employee defined benefit liabilities and its components:
| Defined benefit obligation |  | Fair value of assets |  | Other employee benefits liability |  | Net defined benefit assets (liability)
At January 1, 2022 | $ | (34,593) |  |  | $ | 27,413 |  |  | $ | (490) |  |  | $ | (7,670) |
Current service cost | (2,860) |  |  | — |  |  | — |  |  | (2,860) |
Interest (cost) income | (972) |  |  | 722 |  |  | — |  |  | (250) |
Past service cost | (16) |  |  | — |  |  | — |  |  | (16) |
Return on plan assets | — |  |  | 172 |  |  | — |  |  | 172 |
Experience gain (loss) | (3,959) |  |  | — |  |  | — |  |  | (3,959) |
Actuarial changes arising from changes in financial assumptions | 10,874 |  |  | — |  |  | — |  |  | 10,874 |
Employer contributions | — |  |  | 3,911 |  |  | — |  |  | 3,911 |
Benefits paid | 1,194 |  |  | (869) |  |  | — |  |  | 325 |
Others | — |  |  | (152) |  |  | 129 |  |  | (23) |
As of December 31, 2022 | $ | (30,332) |  |  | $ | 31,197 |  |  | $ | (361) |  |  | $ | 504 |
Current service cost | (2,725) |  |  | — |  |  | — |  |  | (2,725) |
Interest (cost) income | (1,715) |  |  | 1,641 |  |  | — |  |  | (74) |
Past service cost | (13) |  |  | — |  |  | — |  |  | (13) |
Return on plan assets | — |  |  | (251) |  |  | — |  |  | (251) |
Experience gain (loss) | 80 |  |  | — |  |  | — |  |  | 80 |
Actuarial changes arising from changes in financial assumptions | 2,295 |  |  | — |  |  | — |  |  | 2,295 |
Employer contributions | — |  |  | 4,572 |  |  | — |  |  | 4,572 |
Benefits paid | 970 |  |  | — |  |  | — |  |  | 970 |
Others | — |  |  | — |  |  | (12) |  |  | (12) |
As of December 31, 2023 | $ | (31,440) |  |  | $ | 37,159 |  |  | $ | (373) |  |  | $ | 5,346 |
Current service cost | (2,690) |  |  | — |  |  | — |  |  | (2,690) |
Interest (cost) income | (2,015) |  |  | 2,205 |  |  | — |  |  | 190 |
Past service cost | (62) |  |  | — |  |  | — |  |  | (62) |
Return on plan assets | — |  |  | (335) |  |  |  |  | (335) |
Experience gain (loss) | (440) |  |  | — |  |  | — |  |  | (440) |
Actuarial changes arising from changes in financial assumptions | (5,633) |  |  | — |  |  | — |  |  | (5,633) |
Employer contributions | — |  |  | 4,875 |  |  | — |  |  | 4,875 |
Benefits paid | 1,238 |  |  | (1,416) |  |  | — |  |  | (178) |
Others | — |  |  | — |  |  | (15) |  |  | (15) |
As of December 31, 2024 | $ | (41,042) |  |  | $ | 42,488 |  |  | $ | (388) |  |  | $ | 1,058 |
Summary of Sensitivity Analysis for Actuarial Assumptions | The following were the principal actuarial assumptions at the reporting date:
| 2024 |  | 2023 |  | 2022
Economic assumptions - |  |  |  |  |
Discount rate | 5.0% |  | 6.7% |  | 5.9%
Compensation - salary increase | 4.0% |  | 4.0% |  | 4.0%
Demographic assumptions - |  |  |  |  |
Mortality | Panama experience
Termination | 2003 SoA pension plan
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 2024 |  | December, 31 2023 |  | December, 31 2022
| Increase |  | Decrease |  | Increase |  | Decrease |  | Increase |  | Decrease
Discount rate (0.5% movement) | $ | 1,832 |  |  | $ | (1,989) |  |  | $ | 1,296 |  |  | $ | (1,400) |  |  | $ | 1,338 |  |  | $ | (1,451) |
Summary of Expected Contribution Payments to Defined Benefit Plan | The following payments are expected contributions to the defined benefit plan in future years:
| 2024 |  | 2023
Up to one year | $ | 4,271 |  |  | $ | 3,313 |
One to five years | 13,301 |  |  | 11,873 |
Over five years | 21,288 |  |  | 18,878 |
Total expected payments | $ | 38,860 |  |  | $ | 34,064 |

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