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Retirement plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Employee Benefits [Abstract] |
Schedule of net defined benefit liability (asset) | Information concerning the Company’s defined benefit pension plans, in aggregate, is as follows:
As at | Dec 31 2024 | Dec 31 2023
Accrued benefit obligations: |  |
Balance, beginning of year | $ | 55,181 |  | $ | 53,586 |
Current service cost | 3,395 |  | 2,246 |
Past service cost | — |  | 2,479 |
Interest cost on accrued benefit obligations | 2,436 |  | 2,549 |
Benefit payments | (3,657) |  | (4,280) |
Settlements | (12,246) |  | (3,738) |
Actuarial (gain) loss | (206) |  | 2,074 |
Foreign exchange (gain) loss | (4,856) |  | 265 |
Balance, end of year | 40,047 |  | 55,181 |
Fair values of plan assets: |  |
Balance, beginning of year | 38,208 |  | 38,347 |
Interest income on assets | 1,680 |  | 1,901 |
Contributions | 2,536 |  | 5,687 |
Benefit payments | (3,657) |  | (4,280) |
Settlements | (13,305) |  | (3,680) |
Return on plan assets | 45 |  | (705) |
Foreign exchange gain (loss) | (2,258) |  | 938 |
Balance, end of year | 23,249 |  | 38,208 |
Unfunded status | 16,798 |  | 16,973 |
Minimum funding requirement | — |  | — |
Defined benefit obligation, net | $ | 16,798 |  | $ | 16,973 |
Schedule of 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, 2024 and 2023 is as follows:
For the years ended December 31 | 2024 | 2023
Net defined benefit pension plan expense: |  |
Current service cost | $ | 3,395 | $ | 2,246 |
Past service cost | — | 2,479 |
Net interest cost | 756 | 648 |
Cost of settlement | 1,059 | (58) |
Total net defined benefit pension plan expense | $ | 5,210 | $ | 5,315 |
Schedule of expense recognized in other comprehensive income | The Company’s current year actuarial gain (loss), recognized in the consolidated statements of comprehensive income for the years ended December 31, 2024 and 2023, are as follows:
For the years ended December 31 | 2024 | 2023
Actuarial gain (loss) | $ | 1,353 | $ | (2,827)
Schedule of fair value of plan assets | The asset allocation for the defined benefit pension plan assets as at December 31, 2024 and 2023 is as follows:
As at | Dec 31 2024 | Dec 31 2023
Equity securities | 23% | 15%
Debt securities | 14% | 52%
Cash and other short-term securities | 63% | 33%
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 [domain]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 19 -IssueDate 2024-01-01 -Paragraph 142 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=19&code=ifrs-tx-2024-en-r&anchor=para_142&doctype=Standard -URIDate 2024-03-27 + 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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