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Retirement plans (Tables) | 12 Months Ended
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Dec. 31, 2022
Employee Benefits [Abstract] |
Disclosure of net defined benefit liability (asset) | Information concerning the Company’s defined benefit pension plans, in aggregate, is as follows:
As at | Dec 31 2022 | Dec 31 2021
Accrued benefit obligations: |  |
Balance, beginning of year | $ | 62,208 |  | $ | 78,810 |
Current service cost | 2,329 |  | 3,232 |
Interest cost on accrued benefit obligations | 2,007 |  | 1,619 |
Benefit payments | (5,760) |  | (9,188) |
Settlements | — |  | (123) |
Actuarial (gain) loss | (4,047) |  | (7,911) |
Foreign exchange (gain) loss | (3,151) |  | (4,231) |
Balance, end of year | 53,586 |  | 62,208 |
Fair values of plan assets: |  |
Balance, beginning of year | 46,608 |  | 46,958 |
Interest income on assets | 1,221 |  | 1,057 |
Contributions | 4,457 |  | 7,528 |
Benefit payments | (5,760) |  | (9,188) |
Return on plan assets | (5,173) |  | 2 |
Foreign exchange gain (loss) | (3,006) |  | 251 |
Balance, end of year | 38,347 |  | 46,608 |
Unfunded status | 15,239 |  | 15,600 |
Minimum funding requirement | — |  | — |
Defined benefit obligation, net | $ | 15,239 |  | $ | 15,600 |
Expense recognized in the income statement | The Company’s net defined benefit pension plan expense charged to the consolidated statements of income for the years ended December 31, 2022 and 2021 is as follows:
For the years ended December 31 | 2022 | 2021
Net defined benefit pension plan expense: |  |
Current service cost | $ | 2,329 | $ | 3,232 |
Net interest cost | 786 | 562 |
Cost of settlement | — | (123) |
Total net defined benefit pension plan expense | $ | 3,115 | $ | 3,671 |
Expense recognized in other comprehensive income | The Company’s current year actuarial losses, recognized in the consolidated statements of comprehensive income for the years ended December 31, 2022 and 2021, are as follows:
For the years ended December 31 | 2022 | 2021
Actuarial gain (loss) | $ | (726) |  | $ | 7,499 |
Disclosure of fair value of plan assets | The asset allocation for the defined benefit pension plan assets as at December 31, 2022 and 2021 is as follows:
As at | Dec 31 2022 | Dec 31 2021
Equity securities | 20% | 19%
Debt securities | 49% | 54%
Cash and other short-term securities | 31% | 27%
Total | 100% | 100%

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- Definition The disclosure of the fair value of defined benefit plan assets. [Refer: Plan assets [member]; Defined benefit plans [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2022-03-24 -Paragraph 142 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2022-en-r&anchor=para_142&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2022-03-24 -Paragraph 140 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2022-en-r&anchor=para_140_a&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition Disclosure Of Defined Benefit Plan Expense Recognized In Other Comprehensive Income Explanatory [Table Text Block] + References No definition available. + Details
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- Definition Disclosure Of Defined Benefit Plan Expense Recognized In Profit Or Loss Explanatory [Table Text Block] + References No definition available. + Details
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