Income taxes (Tables)
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12 Months Ended |
Dec. 31, 2015 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
(In thousands) | | 2015 | | 2014 | | 2013 | Current income tax expense: | | | | | | | Puerto Rico | $ | 16,675 | $ | 7,814 | $ | 27,118 | Federal and States | | 7,281 | | 6,953 | | 10,309 | Subtotal | | 23,956 | | 14,767 | | 37,427 | Deferred income tax expense (benefit): | | | | | | | Puerto Rico | | 63,808 | | 12,569 | | (90,796) | Federal and States | | (582,936) | | 2,861 | | (491) | Valuation allowance - Initial recognition | | - | | 8,034 | | - | Adjustment for enacted changes in income tax laws | | - | | 20,048 | | (197,467) | Subtotal | | (519,128) | | 43,512 | | (288,754) | Total income tax expense (benefit) | $ | (495,172) | $ | 58,279 | $ | (251,327) |
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Schedule Of Deferred Tax Assets And Liabilities Table Text Block |
(In thousands) | | December 31, 2015 | | December 31, 2014 | Deferred tax assets: | | | | | Tax credits available for carryforward | $ | 13,651 | $ | 12,056 | Net operating loss and other carryforward available | | 1,262,197 | | 1,261,413 | Postretirement and pension benefits | | 116,036 | | 110,794 | Deferred loan origination fees | | 6,420 | | 7,720 | Allowance for loan losses | | 670,592 | | 710,666 | Deferred gains | | 5,966 | | 7,500 | Accelerated depreciation | | 8,335 | | 7,915 | Intercompany deferred gains | | 2,743 | | 2,988 | Difference in outside basis from pass-through entities | | 12,684 | | 16,094 | Other temporary differences | | 29,208 | | 30,667 | | Total gross deferred tax assets | | 2,127,832 | | 2,167,813 | Deferred tax liabilities: | | | | | FDIC-assisted transaction | | 90,778 | | 81,335 | Indefinite-lived intangibles | | 63,573 | | 53,797 | Unrealized net gain on trading and available-for-sale securities | | 22,281 | | 20,817 | Other temporary differences | | 6,670 | | 20,223 | | Total gross deferred tax liabilities | | 183,302 | | 176,172 | Valuation allowance | | 642,727 | | 1,212,748 | Net deferred tax asset | $ | 1,301,803 | $ | 778,893 |
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Summary of Operating Loss Carryforwards [Table Text Block] |
(In thousands) | | | 2018 | $ | 1,369 | 2019 | | 259 | 2021 | | 76 | 2022 | | 2,853 | 2023 | | 1,248 | 2024 | | 9,547 | 2025 | | 14,021 | 2027 | | 63,163 | 2028 | | 504,976 | 2029 | | 174,338 | 2030 | | 171,897 | 2031 | | 133,908 | 2032 | | 25,043 | 2033 | | 1,757 | 2034 | | 66,268 | | $ | 1,170,723 |
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Summary Of Income Tax Contingencies Text Block |
(In millions) | | | Balance at January 1, 2014 | $ | 9.8 | Additions for tax positions related to 2014 | | 1.1 | Reduction as a result of lapse of statute of limitations | | (2.5) | Reduction for tax positions of prior years | | (0.4) | Balance at December 31, 2014 | $ | 8.0 | Additions for tax positions related to 2015 | | 1.5 | Reduction as a result of settlements | | (0.5) | Balance at December 31, 2015 | $ | 9.0 |
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PUERTO RICO |
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Schedule Of Effective Income Tax Rate Reconciliation Table Text Block |
| | | 2015 | | | 2014 | | | 2013 | | (In thousands) | | Amount | % of pre-tax income | | | Amount | % of pre-tax income | | | Amount | % of pre-tax income | | Computed income tax at statutory rates | $ | 155,542 | 39 | % | $ | (51,570) | 39 | % | | 135,720 | 39 | % | Benefit of net tax exempt interest income | | (51,812) | (13) | | | (55,862) | 43 | | | (36,993) | (11) | | Effect of income subject to preferential | | | | | | | | | | | | | | tax rate [1] | | (10,010) | (3) | | | (21,909) | 18 | | | (137,793) | (40) | | Deferred tax asset valuation allowance | | (586,159) | (147) | | | (4,281) | 3 | | | (32,990) | (9) | | Non-deductible expenses [2] | | - | - | | | 178,219 | (135) | | | 32,115 | 9 | | Difference in tax rates due to multiple | | | | | | | | | | | | | | jurisdictions | | (11,244) | (3) | | | (14,178) | 10 | | | (12,029) | (3) | | Initial adjustment in deferred tax due to | | | | | | | | | | | | | | change in tax rate | | - | - | | | 20,048 | (16) | | | (197,467) | (57) | | Unrecognized tax benefits | | - | - | | | (3,601) | 3 | | | (7,727) | (2) | | Others | | 8,511 | 2 | | | 11,413 | (9) | | | 5,837 | 2 | | Income tax (benefit) expense | $ | (495,172) | (125) | % | $ | 58,279 | (44) | % | $ | (251,327) | (72) | % |
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