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Cash and cash equivalents
 12 Months Ended
Dec. 31, 2024
Cash and cash equivalents [abstract]  
Cash and cash equivalents
8. Cash and cash equivalents
20242023
Checking and saving accounts$271,337 $151,146 
Time deposit 291,000 55,000 
Cash on hand250 229 
Bonds50,726 — 
$613,313 $206,375 
Cash at checking and saving accounts, earned interest based on rates determined by the banks in which the instruments are held.
Time deposits and bonds are presented as cash equivalents if they have a maturity of three months or less. They are denominated in U.S. dollar and held to maturity.
As of December 31, 2024, the cash and cash equivalents disclosed above and in the consolidated statement of cash flows include $1.4 million (2023: $1.4 million) that the Company has pledged from its checking and saving accounts to fulfill collateral requirements. As of December 31, 2024 and 2023, except for the cash pledged to fulfill collateral requirement, the Company’s cash and cash equivalents are free of restriction or charges that could limit its availability.