Income taxes (Tables)

3 Months Ended

Mar. 31, 2019

Schedule Of Deferred Tax Assets And Liabilities Table Text Block

			March 31, 2019
(In thousands)			PR		US		Total
Deferred tax assets:
Tax credits available for carryforward		$	15,900	$	7,757	$	23,657
Net operating loss and other carryforward available			121,529		716,853		838,382
Postretirement and pension benefits			82,940		-		82,940
Deferred loan origination fees			2,756		(1,919)		837
Allowance for loan losses			482,185		19,873		502,058
Deferred gains			-		2,515		2,515
Accelerated depreciation			1,963		5,760		7,723
FDIC-assisted transaction			92,209		-		92,209
Intercompany deferred gains			1,299		-		1,299
Difference in outside basis from pass-through entities			17,430		-		17,430
Other temporary differences			24,797		8,020		32,817
	Total gross deferred tax assets		843,008		758,859		1,601,867
Deferred tax liabilities:
Indefinite-lived intangibles			34,914		40,786		75,700
Unrealized net gain (loss) on trading and available-for-sale securities			32,253		(7,636)		24,617
Other temporary differences			11,399		1,109		12,508
	Total gross deferred tax liabilities		78,566		34,259		112,825
Valuation allowance			95,334		401,308		496,642
Net deferred tax asset		$	669,108	$	323,292	$	992,400
			December 31, 2018
(In thousands)			PR		US		Total
Deferred tax assets:
Tax credits available for carryforward		$	15,900	$	7,757	$	23,657
Net operating loss and other carryforward available			116,154		720,933		837,087
Postretirement and pension benefits			83,390		-		83,390
Deferred loan origination fees			3,216		(1,280)		1,936
Allowance for loan losses			516,643		18,612		535,255
Deferred gains			-		2,551		2,551
Accelerated depreciation			1,963		5,786		7,749
FDIC-assisted transaction			95,851		-		95,851
Intercompany deferred gains			1,518		-		1,518
Difference in outside basis from pass-through entities			20,209		-		20,209
Other temporary differences			24,957		7,522		32,479
	Total gross deferred tax assets		879,801		761,881		1,641,682
Deferred tax liabilities:
Indefinite-lived intangibles			34,081		39,597		73,678
Unrealized net gain (loss) on trading and available-for-sale securities			23,823		(12,783)		11,040
Other temporary differences			10,579		-		11,688
	Total gross deferred tax liabilities		68,483		26,814		96,406
Valuation allowance			89,852		406,455		496,307
Net deferred tax asset		$	721,466	$	328,612	$	1,048,969

Summary Of Income Tax Contingencies Text Block

(In millions)		2019		2018
Balance at January 1	$	7.2	$	7.3
Additions for tax positions -January through March		0.3		0.2
Balance at March 31	$	7.5	$	7.5

PUERTO RICO

Schedule Of Effective Income Tax Rate Reconciliation Table Text Block

		Quarters ended
		March 31, 2019				March 31, 2018
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax expense at statutory rates	$	81,806	38	%	$	44,257	39	%
Net benefit of tax exempt interest income		(26,944)	(12)			(22,993)	(20)
Deferred tax asset valuation allowance		5,482	2			7,226	6
Difference in tax rates due to multiple jurisdictions		(2,862)	(1)			(2,959)	(2)
Effect of income subject to preferential tax rate		(2,928)	(1)			(3,048)	(3)
Adjustments in net deferred tax due to change in tax law		-	-			(5,133)	(4)
State and local taxes		1,624	-			1,363	1
Others		(5,955)	(3)			3,442	3
Income tax (benefit) expense	$	50,223	23	%	$	22,155	20	%