XML 186 R172.htm IDEA: XBRL DOCUMENT v3.23.2
Income taxes - Differences between income tax expense (benefit) in Puerto Rico (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Amount        
Income tax expense $ 43,503 $ 64,212 $ 89,817 $ 114,691
PR        
Amount        
Computed income tax at statutory rates 72,998 103,362 149,983 201,674
Net benefit of tax exempt interest income (27,316) (34,397) (49,218) (77,266)
Effect of income subject to preferential tax rate 278 (3,097) (576) (7,042)
Deferred tax asset valuation allowance 994 2,047 (3,572) 5,938
Difference in tax rates due to multiple jurisdictions (3,869) (6,817) (9,039) (13,310)
State and local taxes 3,037 3,566 6,392 7,231
Other (2,619) (452) (4,153) (2,534)
Income tax expense $ 43,503 $ 64,212 $ 89,817 $ 114,691
% 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 (14.00%) (12.00%) (12.00%) (15.00%)
Effect of income subject to preferential tax rate 0.00% (1.00%) 0.00% (1.00%)
Deferred tax asset valuation allowance 1.00% 0.00% (1.00%) 1.00%
Difference in tax rates due to multiple jurisdictions (2.00%) (3.00%) (2.00%) (3.00%)
State and local taxes 2.00% 1.00% 2.00% 1.00%
Others (2.00%) 0.00% (1.00%) 0.00%
Income tax expense 22.00% 23.00% 22.00% 21.00%