Goodwill and other intangible assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure

Goodwill and accumulated impairment losses by reportable segments

The changes in the carrying amount of goodwill for the nine months ended September 30, 2023 and 2022, allocated by reportable

segments, were as follows (refer to Note 33 for the definition of the Corporation’s reportable segments):

September 30, 2023

Balance at 

Goodwill on

Goodwill

Balance at

(In thousands)

January 1, 2023

 acquisition 

impairment

September 30, 2023

Banco Popular de Puerto Rico

$

436,383

$

-

$

-

$

436,383

Popular U.S.

391,045

-

(23,000)

368,045

Total Popular, Inc. 

$

827,428

$

-

$

(23,000)

$

804,428

September 30, 2022

Balance at 

Goodwill on

Goodwill

Balance at

(In thousands)

January 1, 2022

 acquisition 

impairment

September 30, 2022

Banco Popular de Puerto Rico

$

320,248

$

116,135

$

-

$

436,383

Popular U.S.

400,045

-

(9,000)

391,045

Total Popular, Inc. 

$

720,293

$

116,135

$

(9,000)

$

827,428

The following tables present the gross amount of goodwill and accumulated impairment losses by reportable segments.

September 30, 2023

Balance at

Balance at

September 30,

Accumulated

September 30,

2023

impairment 

2023

(In thousands)

 (gross amounts)

losses

 (net amounts)

Banco Popular de Puerto Rico

$

440,184

$

3,801

$

436,383

Popular U.S.

564,456

196,411

368,045

Total Popular, Inc. 

$

1,004,640

$

200,212

$

804,428

December 31, 2022

 Balance at 

 Balance at 

December 31,

Accumulated

December 31,

2022

impairment 

2022

(In thousands)

 (gross amounts)

losses

 (net amounts)

Banco Popular de Puerto Rico

$

440,184

$

3,801

$

436,383

Popular U.S.

564,456

173,411

391,045

Total Popular, Inc. 

$

1,004,640

$

177,212

$

827,428

Components of other intangible assets subject to amortization

Gross Carrying

Accumulated

Net

Carrying

(In thousands)

Amount

Amortization

Value

September 30, 2023

Core deposits

$

12,810

$

10,995

$

1,815

Other customer relationships

14,286

6,302

7,984

Total other intangible assets

$

27,096

$

17,297

$

9,799

December 31, 2022

Core deposits

$

12,810

$

10,034

$

2,776

Other customer relationships

14,286

4,878

9,408

Total other intangible assets

$

27,096

$

14,912

$

12,184

Estimated amortization of the intangible assets with definite useful lives

(In thousands)

Remaining 2023

$

794

Year 2024

2,938

Year 2025

1,750

Year 2026

1,440

Year 2027

959

Later years

1,918