Income taxes (Tables)

6 Months Ended

Jun. 30, 2013

Schedule Of Deferred Tax Assets And Liabilities Table Text Block

(In thousands)			June 30, 2013		December 31, 2012
Deferred tax assets:
Tax credits available for carryforward		$	6,200	$	2,666
Net operating loss and other carryforward available			1,345,667		1,201,174
Postretirement and pension benefits			133,279		97,276
Deferred loan origination fees			7,740		6,579
Allowance for loan losses			721,114		592,664
Deferred gains			9,910		10,528
Accelerated depreciation			6,901		6,699
Intercompany deferred gains			3,326		3,891
Other temporary differences			39,576		31,864
	Total gross deferred tax assets		2,273,713		1,953,341
Deferred tax liabilities:
Differences between the assigned values and the tax basis of assets and liabilities
	recognized in purchase business combinations		38,737		37,281
Difference in outside basis between financial and tax reporting on sale of a business			2,795		6,400
FDIC-assisted transaction			72,537		53,351
Unrealized net gain on trading and available-for-sale securities			20,784		51,002
Deferred loan origination costs			-		3,459
Other temporary differences			10,402		10,142
	Total gross deferred tax liabilities		145,255		161,635
Valuation allowance			1,268,954		1,260,542
Net deferred tax asset		$	859,504	$	531,164

Summary Of Income Tax Contingencies Text Block

(In millions)		2013		2012
Balance at January 1	$	13.4	$	19.5
Additions for tax positions - January through March		0.2		0.7
Balance at March 31	$	13.6	$	20.2
Additions for tax positions - April through June		0.3		-
Reduction for tax positions - April through June		-		(0.2)
Reduction for tax positions taken in prior years - April through June		-		(0.7)
Balance at June 30	$	13.9	$	19.3

PUERTO RICO

Schedule Of Effective Income Tax Rate Reconciliation Table Text Block

		Quarters ended
		June 30, 2013				June 30, 2012
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax at statutory rates	$	35,135	39	%	$	(3,646)	30	%
Net benefit of net tax exempt interest income		(10,325)	(11)			(3,739)	31
Deferred tax asset valuation allowance		(8,312)	(9)			(48)	-
Non-deductible expenses		7,946	9			5,726	(47)
Difference in tax rates due to multiple jurisdictions		(3,201)	(4)			(1,149)	9
Adjustment in deferred tax due to change in tax rate		(215,600)	(239)			-	-
Effect of income subject to preferential tax rate[1]		(47,322)	(53)			(73,298)	603
Others		4,299	5			(1,739)	14
Income tax (benefit) expense	$	(237,380)	(263)	%	$	(77,893)	640	%
[1] For 2012, includes the impact of the Closing Agreement with the P.R. Treasury signed in June 2012.

		Six months ended
		June 30, 2013				June 30, 2012
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax at statutory rates	$	(33,967)	39	%	$	15,734	30	%
Net benefit of net tax exempt interest income		(19,876)	23			(10,753)	(21)
Deferred tax asset valuation allowance		(11,737)	13			1,119	2
Non-deductible expenses		15,759	(18)			11,365	22
Difference in tax rates due to multiple jurisdictions		(6,950)	8			(4,356)	(8)
Adjustment in deferred tax due to change in tax rate		(197,467)	227			-	-
Effect of income subject to preferential tax rate[1]		(45,313)	52			(74,269)	(142)
Others		5,294	(6)			(541)	(1)
Income tax (benefit) expense	$	(294,257)	338	%	$	(61,701)	(118)	%
[1] For 2012, includes the impact of the Closing Agreement with the P.R. Treasury signed in June 2012.

		Quarters ended
		June 30, 2013				June 30, 2012
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax at statutory rates	$	35,135	39	%	$	(3,646)	30	%
Net benefit of net tax exempt interest income		(10,325)	(11)			(3,739)	31
Deferred tax asset valuation allowance		(8,312)	(9)			(48)	-
Non-deductible expenses		7,946	9			5,726	(47)
Difference in tax rates due to multiple jurisdictions		(3,201)	(4)			(1,149)	9
Adjustment in deferred tax due to change in tax rate		(215,600)	(239)			-	-
Effect of income subject to preferential tax rate[1]		(47,322)	(53)			(73,298)	603
Others		4,299	5			(1,739)	14
Income tax (benefit) expense	$	(237,380)	(263)	%	$	(77,893)	640	%
[1] For 2012, includes the impact of the Closing Agreement with the P.R. Treasury signed in June 2012.

		Six months ended
		June 30, 2013				June 30, 2012
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax at statutory rates	$	(33,967)	39	%	$	15,734	30	%
Net benefit of net tax exempt interest income		(19,876)	23			(10,753)	(21)
Deferred tax asset valuation allowance		(11,737)	13			1,119	2
Non-deductible expenses		15,759	(18)			11,365	22
Difference in tax rates due to multiple jurisdictions		(6,950)	8			(4,356)	(8)
Adjustment in deferred tax due to change in tax rate		(197,467)	227			-	-
Effect of income subject to preferential tax rate[1]		(45,313)	52			(74,269)	(142)
Others		5,294	(6)			(541)	(1)
Income tax (benefit) expense	$	(294,257)	338	%	$	(61,701)	(118)	%
[1] For 2012, includes the impact of the Closing Agreement with the P.R. Treasury signed in June 2012.