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Trade receivables | 12 Months Ended
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Dec. 31, 2024
Notes and other explanatory information [abstract] |
Trade receivables | 15. Trade receivables Trade receivables are non-interest bearing and are normally settled within the terms of the invoice. Impairment is measured using provisioning rates based on days past due for groupings of customer segments with similar characteristics. The provisioning rates used in calculating the impairment of trade receivables ranged from 0.0% to 2.1% as of December 31, 2024 (0.0% to 1.9% as of December 31, 2023). The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions (primarily GDP and the unemployment rate), in addition to specific information about individual receivables. Among other factors, credit decisions consider: •how long the company has been in business; •past and present payment history; •financial information provided by the credit applicant; •availability of payment bonds; and •availability of liens and other forms of guarantee. Credit is only granted to businesses, and upon approval, all customers are assigned a credit limit and risk rating, which are reviewed periodically. Delinquent accounts are followed-up in a timely manner for collection and to maximize cashflow and minimize past due accounts. Accounts deemed uncollectible are subject to write-off in accordance with established limits of approval. The Company periodically updates lifetime expected credit loss rates across the different accounts receivable portfolios and aging buckets and continuously monitors individual customer accounts with elevated credit risk due to specific circumstances. The components of trade receivables, at December 31, 2024 and December 31, 2023 are as follows:
| 2024 |  | 2023
Trade receivables | $ | 52,915 |  |  | $ | 60,719 |
Expected credit loss allowance | (4,796) |  |  | (4,846) |
Total trade receivables, net | $ | 48,119 |  |  | $ | 55,873 |
15. Trade receivables (continued) As of December 31, 2024, the aging analysis of trade receivables is as follows:
| Trade receivables |  | Expected credit loss allowance |  | Trade receivables, net
Current | $ | 27,188 |  |  | $ | (616) |  |  | $ | 26,572 |
1-30 days past due | 15,042 |  |  | (306) |  |  | 14,736 |
30-60 days past due | 4,608 |  |  | (185) |  |  | 4,422 |
60-90 days past due | 1,632 |  |  | (214) |  |  | 1,418 |
90-120 days past due | 584 |  |  | (38) |  |  | 546 |
>120 days past due | 3,863 |  |  | (3,438) |  |  | 425 |
| $ | 52,915 |  |  | $ | (4,796) |  |  | $ | 48,119 |
As of December 31, 2023, the aging analysis of trade receivables is as follows:
| Trade receivables |  | Expected credit loss allowance |  | Trade receivables, net
Current | $ | 34,400 |  |  | $ | (410) |  |  | $ | 33,990 |
1-30 days past due | 12,273 |  |  | (181) |  |  | 12,092 |
30-60 days past due | 6,229 |  |  | (239) |  |  | 5,990 |
60-90 days past due | 2,112 |  |  | (101) |  |  | 2,011 |
90-120 days past due | 673 |  |  | (96) |  |  | 577 |
>120 days past due | 5,032 |  |  | (3,819) |  |  | 1,213 |
| $ | 60,719 |  |  | $ | (4,846) |  |  | $ | 55,873 |
Activity within the expected credit loss allowance for the years ended December 31, 2024 and December 31, 2023 consists of the following:
| 2024 |  | 2023
Balance at January 1 | $ | (4,846) |  |  | $ | (3,930) |
Bad debt expense for the year | (618) |  |  | (1,177) |
Utilization and other adjustments | 668 |  |  | 261 |
Balance at December 31 | $ | (4,796) |  |  | $ | (4,846) |
17. Other Receivables The components of other receivables at December 31, 2024 and December 31, 2023 are as follows:
| 2024 |  | 2023
Receivables due from SPE, net (Note 7) | $ | 51,931 |  |  | $ | 59,346 |
Receivables, non-trade | 3,136 |  |  | 3,473 |
Reserve for receivables, non-trade | (2,324) |  |  | (2,602) |
Rebates and refunds due | 876 |  |  | 742 |
Reimbursements | — |  |  | 746 |
Deposits | 445 |  |  | 514 |
Other | 3,873 |  |  | 2,902 |
Total other receivables, net | $ | 57,937 |  |  | $ | 65,121 |
As of December 31, 2024, the aging analysis of other receivables, is as follows:
| Other receivables |  | Allowances |  | Other receivables, net
Neither past due nor impaired | $ | 54,064 |  |  | $ | — |  |  | $ | 54,064 |
<180 days past due | 5,035 |  |  | (2,256) |  |  | 2,779 |
180-365 days past due | 1,162 |  |  | (68) |  |  | 1,094 |
| $ | 60,261 |  |  | $ | (2,324) |  |  | $ | 57,937 |
As of December 31, 2023, the aging analysis of other receivables, is as follows:
| Other receivables |  | Allowances |  |  | Other receivables, net
Neither past due nor impaired | $ | 62,219 |  |  | $ | — |  |  |  | $ | 62,219 |
<180 days past due | 4,203 |  |  | (2,486) |  |  |  | 1,717 |
180-365 days past due | 1,301 |  |  | (116) |  |  |  | 1,185
| $ | 67,723 |  |  | $ | (2,602) |  |  |  | $ | 65,121 |

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
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