XML 176 R162.htm IDEA: XBRL DOCUMENT v3.22.2
Income taxes - Differences between income tax expense (benefit) in Puerto Rico (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Amount        
Income tax expense $ 64,212 $ 73,093 $ 114,691 $ 149,924
PR        
Amount        
Computed income tax at statutory rates 103,362 109,189 201,674 236,488
Net benefit of tax exempt interest income (41,336) (36,840) (77,825) (71,003)
Deferred tax asset valuation allowance 2,047 5,832 5,938 16,153
Difference in tax rates due to multiple jurisdictions (6,817) (4,881) (13,310) (15,829)
Effect of income subject to preferential tax rate (3,097) (1,405) (7,042) (4,734)
Adjustment due to estimate on the annual effective rate 6,939 (405) 559 (10,733)
State and local taxes 3,566 2,530 7,231 2,591
Other (452) (927) (2,534) (3,009)
Income tax expense $ 64,212 $ 73,093 $ 114,691 $ 149,924
% of pre-tax income        
Computed income tax at statutory rates 38.00% 38.00% 38.00% 38.00%
Net benefit of tax exempt interest income (15.00%) (13.00%) (15.00%) (11.00%)
Deferred tax asset valuation allowance 0.00% 2.00% 1.00% 3.00%
Difference in tax rates due to multiple jurisdictions (3.00%) (2.00%) (3.00%) (3.00%)
Effect of income subject to preferential tax rate (1.00%) (1.00%) (1.00%) (1.00%)
Adjustment due to estimate on the annual effective rate 3.00% 0.00% 0.00% (2.00%)
State and local taxes 1.00% 1.00% 1.00% 0.00%
Others 0.00% 0.00% 0.00% 0.00%
Income tax expense 23.00% 25.00% 21.00% 24.00%