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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Taxes [Abstract]  
Components Of Pretax Income

Year Ended December 31,

2020

2019

2018

(In thousands)

United States

$               (54,425)

$                   2,900

$               (19,461)

Brazil

79,453

25,693

(38,778)

Argentina

185,054

61,217

107,913

Mexico

(133,582)

(168,310)

(91,681)

Other Countries

4,815

(28,746)

(23,445)

$                 81,315

$             (107,246)

$               (65,452)

Summary Of Income / Asset Tax Expense

Year Ended December 31,

2020

2019

2018

(In thousands)

Income Tax:

Current:

U.S.

$                       —

$                  8,705

$                      (10)

Non-U.S.

152,337

39,595

64,028

152,337

48,300

64,018

Deferred:

U.S.

(5,397)

(13,566)

(3,618)

Non-U.S.

(64,918)

30,019

(89,267)

(70,315)

16,453

(92,885)

Income tax expense (gain)

82,022

64,753

(28,867)

Reconciliation Of Difference Between Actual Provision For Income Taxes And Provision Computed By Applying Income Tax Rate

Year Ended December 31,

2020

2019

2018

(In thousands)

Net income (loss) before income tax

$                     81,315

$             (107,246)

$               (65,452)

Income tax rate

21%

21%

21%

Expected income tax gain (expense)

$                     17,076

$               (22,522)

$               (13,745)

Permanent differences:

Federal and assets taxes

146

203

7

Transfer pricing adjustments

1,243

1,161

1,818

Non-deductible tax

2,641

683

1,043

Non-deductible expenses

17,885

9,309

6,982

Dividend distributions

9,381

2,594

1,085

Non-taxable income

(3,741)

(15,418)

(31,562)

Effect of rates different than statutory

(3,713)

(11,521)

3,020

Currency translation

11,775

(4,201)

3,866

Change in valuation allowance

40,874

113,426

3,130

Argentine tax reform (including changes in income tax rate)

(2,175)

1,217

Colombian tax reform

442

Deferred tax reversed by merger

(3,994)

Exchange of convertible note

(1,756)

Tax Inflation Adjustments

(7,023)

(4,940)

Deferred tax reversed by spin-off

(886)

True up

(4,522)

(960)

(420)

Income tax expense (gain)

$                     82,022

$                 64,753

$               (28,867)

Composition Of Deferred Tax Assets And Liabilities

December 31,

2020

2019

(In thousands)

Deferred tax assets

Allowance for doubtful accounts

$                     17,963

$                  7,601

Unrealized net gains on investments

2,423

92

Property and equipment, net

15,594

5,467

Accounts payable and accrued expenses

5,009

2,202

Payroll and social security payable

23,516

10,255

Foreign exchange effect

5,399

1,846

Taxes payable

4,843

984

Non compete agreement

155

Provisions and non-deductible interest

70,425

40,593

Foreign tax credit

17,513

12,841

Tax loss carryforwards

162,008

167,420

Customer Lists

220

Inventories

322

Trademarks

24

Tax inflation adjustments

8,460

6,757

Total deferred tax assets

333,475

256,457

Valuation allowance

(179,177)

(138,875)

Total deferred tax assets, net

154,298

117,582

Deferred tax liabilities

Property and equipment, net

(5,771)

(26,761)

Customer lists

(713)

(1,043)

Non compete agreement

(743)

Unrealized net losses on investments

(121)

(1,160)

Trademarks

(86)

(87)

Goodwill

(2,962)

(4,392)

Convertible notes and Capped Call

(57,813)

(63,258)

Accounts payable and accrued expenses

(1,783)

(1,914)

Payroll and social security payable

(5,527)

(313)

Outside Basis Dividends

(5,974)

Provisions

(2,143)

(884)

Non Solicitation Agreement

(137)

Foreign exchange effect

(100)

(3)

Total deferred tax liabilities

$                   (83,736)

$              (99,952)

Tax Loss Carryforwards

2023

$

1,426

2024

512

2025

2,282

2026

4,238

2027

20,620

Thereafter

103,461

Without due dates

29,469

Total

$

162,008