Income Tax (Tables)

6 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

The components of income tax expense for the three and six months ended June 30, 2018 and 2017, respectively, consisted of the following:

	Three months ended June 30,					Six months ended June 30,
(In thousands)	2018		2017			2018			2017
Current tax provision	$	3,073	$	4,380		$	8,160		$	7,887
Deferred tax expense (benefit)	39		(312		)	(1,113		)	(1,799		)
Income tax expense	$	3,112	$	4,068		$	7,047		$	6,088

Segregation of Income Tax Expense Based on Location of Operations

The following table presents the components of income tax expense for the three and six months ended June 30, 2018 and 2017, respectively, and its segregation based on location of operations:

	Three months ended June 30,						Six months ended June 30,
(In thousands)	2018			2017			2018			2017
Current tax provision
Puerto Rico	$	1,456		$	3,054		$	3,855		$	4,860
United States	93			386			173			200
Foreign countries	1,524			940			4,132			2,827
Total current tax provision	$	3,073		$	4,380		$	8,160		$	7,887
Deferred tax expense (benefit)
Puerto Rico	$	(194	)	$	(463	)	$	(1,033	)	$	(1,052	)
United States	(11		)	20			(98		)	(83		)
Foreign countries	244			131			18			(664		)
Total deferred tax expense (benefit)	$	39		$	(312	)	$	(1,113	)	$	(1,799	)

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense differs from the amount computed by applying the Puerto Rico statutory income tax rate to the income before income taxes as a result of the following:

	Six months ended June 30,
(In thousands)	2018			2017
Computed income tax at statutory rates	$	19,614		$	19,281
Differences in tax rates due to multiple jurisdictions	(201		)	(466		)
Tax benefit due to a change in estimate	—			(334		)
Effect of income subject to tax-exemption grant	(12,902		)	(12,580		)
Unrecognized tax benefit	556			187
Other benefit	(20		)	—
Income tax expense	$	7,047		$	6,088