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Employee benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Employee benefits [Abstract]  
Expenses Recognized for Employee Benefits
The expenses recognized for employee benefits are:
 
   
2021
    
2020
    
2019
  
Salaries, benefits and inherent
  
$
235,345
    
$
317,776
    
$
320,827
  
Pensions – defined benefit plans
    
17,790
      
23,623
      
22,873
  
   
$
253,135
    
$
341,399
    
$
343,700
  
Liabilities Recognized for Pensions and Other Remunerations
The long-term liabilities recognized for pensions and other employee remunerations in the consolidated statement of financial position are comprised as follows:
 
   
2021
    
2020
  
Long-term:
            
Pensions and seniority premium
  
$
86,695
    
$
136,832
  
Termination of employment
    
15,680
      
13,365
  
   
$
102,375
    
$
150,197
  
Details of Net Cost for the Period
The details of the net cost for the period for seniority premiums and termination of employment, and also the basic actuarial estimates for the calculation of these labor obligations is shown as follows:
 
   
2021
    
2020
  
   
Pensions and
seniority
premiums
    
Termination of
employment
    
Pensions and
seniority
premiums
    
Termination of
employment
  
Current service cost
  
$
(21,158
)
  
$
3,907
    
$
4,541
    
$
1,727
  
Interest cost
    
12,371
      
770
      
11,892
      
867
  
Net cost for the period
  
$
(8,787
)
  
$
4,677
    
$
16,433
    
$
2,594
  
Reserve for Pensions and Seniority Premiums
At December 31, 2021 and 2020, the reserve for pensions and seniority premiums, and also for the termination of employment, is comprised as follows:

 
2021
  
2020
  
 
Pensions and
seniority
premiums
  
Termination of
employment
  
Pensions and
seniority
premiums
  
Termination of
employment
  
Defined benefit obligations
  
$
87,820
    
$
15,680
    
$
139,763
    
$
13,365
  
Plan assets
    
(1,125
)
    
-
      
(2,931
)
    
-
  
Total reserve
  
$
86,695
    
$
15,680
    
$
136,832
    
$
13,365
  
Defined Benefit Obligation
As of December 31, 2021, and 2020, the defined benefit obligations (DBO) for pensions and seniority premiums, and also for the reserve for termination of employment, are comprised as follows:
 
   
2021
    
2020
  
   
Pensions and
seniority
premiums
    
Termination of
employment
    
Pensions and
seniority
premiums
    
Termination of
employment
  
DBO at beginning of period
  
$
139,763
    
$
13,365
    
$
144,044
    
$
10,467
  
Current service cost
    
(21,158
)
    
3,907
      
4,541
      
1,727
  
Interest cost
    
12,371
      
770
      
11,892
      
867
  
Benefits paid
    
(3,878
)
    
(1,905
)
    
(2,072
)
    
(70
)
Benefits paid from plan assets
    
(6,044
)
    
-
      
(7,315
)
    
-
  
Miscellaneous
    
(33,234
)
    
(457
)
    
(11,327
)
    
374
  
Past service cost
  
$
87,820
    
$
15,680
    
$
139,763
    
$
13,365
  
 
The plan assets as of December 31, 2021 and 2020 are comprised as follows:
 
   
2021
    
2020
  
Value of the fund at beginning of year
  
$
2,931
    
$
3,030
  
Expected return on assets
    
(2,026
)
    
(356
)
Plan contributions
    
5,783
      
7,315
  
Benefits paid
    
(5,783
)
    
(7,315
)
Interests on plan assets
    
220
      
257
  
Miscellaneous
  
$
1,125
    
$
2,931
  
Effects of Changes to Actuarial Assumptions
The changes in the pension plan, seniority premium, and termination of employment plan as of December 31, 2021 and 2020 are as follows:
 
   
2021
    
2020
  
Reserve for obligations at the beginning of the period
  
$
150,197
    
$
151,481
  
Cost for the period
    
(4,110
)
    
19,027
  
Interest income
    
(220
)
    
(257
)
Contributions to the plan
    
(6,044
)
    
(7,315
)
Benefits paid on pension plan
    
(5,783
)
    
(2,142
)
Miscellaneous
    
2,026
      
356
  
Actuarial gain or losses
    
(33,691
)
    
(10,953
)
Reserve for obligations at the end of the period
  
$
102,375
    
$
150,197
  
 
The significant actuarial assumptions used for the valuation are:
 
   
2021
    
2020
  
Discount rate
    
7.50
%
    
7.50
%
Salary increase rate
    
4.00
%
    
4.00
%
Inflation rate
    
3.50
%
    
3.50
%
Average working life expectancy
    
14.50
   
16.10
 
The following table summarizes the effects of changes to these actuarial assumptions on the defined benefits obligations at December 31, 2021:
 
   
1.0% increase
    
1.0% decrease
  
Discount rate
            
(Decrease) increase in the defined benefits obligation
  
$
(1,909
)
  
$
2,268
  
                 
Salary increase rate
                
Increase (decrease) in the defined benefits obligation
  
$
976
    
$
(1,389
)

 
One year
Increase
  
One year
Decrease
  
Average life expectancies
        
Increase (decrease) in the defined benefits obligation
  
$
1,993
    
$
(2,169
)