XML 179 R162.htm IDEA: XBRL DOCUMENT v3.21.1
Income taxes - Differences between income tax expense (benefit) in Puerto Rico (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Amount    
Income tax expense $ 76,831 $ 3,097
PR    
Amount    
Computed income tax at statutory rates 127,299 14,025
Benefit of net tax exempt interest income (34,163) (32,896)
Deferred tax asset valuation allowance 10,321 5,538
Difference in tax rates due to multiple jurisdictions (10,948) 8,875
Effect of income subject to preferential tax rate (3,329) (1,900)
Adjustments in net deferred tax due to change in tax law (10,328) 9,004
State and local taxes 61 (555)
Other (2,082) 1,006
Income tax expense $ 76,831 $ 3,097
% of pre-tax income    
Computed income tax at statutory rates 38.00% 38.00%
Benefit of net tax exempt interest income (10.00%) (88.00%)
Deferred tax asset valuation allowance 3.00% 15.00%
Difference in tax rates due to multiple jurisdictions (3.00%) 24.00%
Effect of income subject to preferential tax rate (1.00%) (5.00%)
Adjustments in net deferred tax due to change in tax law (3.00%) 24.00%
State and local taxes 0.00% (2.00%)
Others (1.00%) 2.00%
Income tax expense 23.00% 8.00%