Income taxes (Tables)

6 Months Ended

Jun. 30, 2014

Schedule Of Deferred Tax Assets And Liabilities Table Text Block

(In thousands)			June 30, 2014		December 31, 2013
Deferred tax assets:
Tax credits available for carryforward		$	8,691	$	8,195
Net operating loss and other carryforward available			1,248,497		1,269,523
Postretirement and pension benefits			47,578		51,742
Deferred loan origination fees			7,059		7,718
Allowance for loan losses			744,261		760,956
Deferred gains			8,695		9,313
Accelerated depreciation			7,753		7,577
Intercompany deferred gains			3,074		3,235
Other temporary differences			35,481		34,443
	Total gross deferred tax assets		2,111,089		2,152,702
Deferred tax liabilities:
Differences between the assigned values and the tax basis of assets and liabilities
	recognized in purchase business combinations		35,391		37,938
Difference in outside basis between financial and tax reporting on sale of a business			407		349
FDIC-assisted transaction			60,981		79,381
Unrealized net gain on trading and available-for-sale securities			20,760		3,822
Deferred loan origination costs			143		554
Other temporary differences			15,190		13,038
	Total gross deferred tax liabilities		132,872		135,082
Valuation allowance			1,224,806		1,257,977
Net deferred tax asset		$	753,411	$	759,643

Summary Of Income Tax Contingencies Text Block

(In millions)		2014		2013
Balance at January 1	$	9.8	$	13.4
Additions for tax positions - January through March		0.3		0.2
Balance at March 31	$	10.1	$	13.6
Additions for tax positions - April through June		0.2		0.3
Balance at June 30	$	10.3	$	13.9

PUERTO RICO

Schedule Of Effective Income Tax Rate Reconciliation Table Text Block

		Quarters ended
		June 30, 2014				June 30, 2013
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax at statutory rates	$	(130,147)	39	%	$	29,168	39	%
Net benefit of net tax exempt interest income		(13,558)	4			(10,325)	(14)
Deferred tax asset valuation allowance		(7,211)	2			(2,958)	(4)
Non-deductible expenses		169,810	(50)			7,946	11
Difference in tax rates due to multiple jurisdictions		(4,293)	1			(2,588)	(3)
Initial adjustment in deferred tax due to change in tax rate		-	-			(215,600)	(288)
Effect of income subject to preferential tax rate[1]		(20,833)	6			(47,322)	(63)
Others		2,108	(1)			4,299	5
Income tax benefit	$	(4,124)	1	%	$	(237,380)	(317)	%
[1] For 2014, includes the impact of the Closing Agreement with the P.R. Treasury signed in June 2014.

		Six months ended
		June 30, 2014				June 30, 2013
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax at statutory rates	$	(95,138)	39	%	$	(43,731)	39	%
Net benefit of net tax exempt interest income		(24,944)	10			(19,876)	18
Deferred tax asset valuation allowance		(14,183)	6			(2,975)	3
Non-deductible expenses		178,129	(73)			15,759	(14)
Difference in tax rates due to multiple jurisdictions		(10,488)	4			(5,948)	5
Initial adjustment in deferred tax due to change in tax rate		-	-			(197,467)	176
Effect of income subject to preferential tax rate[1]		(18,555)	8			(45,313)	40
Others		4,319	(2)			5,294	(5)
Income tax expense (benefit)	$	19,140	(8)	%	$	(294,257)	262	%
[1] For 2014, includes the impact of the Closing Agreement with the P.R. Treasury signed in June 2014.

		Quarters ended
		June 30, 2014				June 30, 2013
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax at statutory rates	$	(130,147)	39	%	$	29,168	39	%
Net benefit of net tax exempt interest income		(13,558)	4			(10,325)	(14)
Deferred tax asset valuation allowance		(7,211)	2			(2,958)	(4)
Non-deductible expenses		169,810	(50)			7,946	11
Difference in tax rates due to multiple jurisdictions		(4,293)	1			(2,588)	(3)
Initial adjustment in deferred tax due to change in tax rate		-	-			(215,600)	(288)
Effect of income subject to preferential tax rate[1]		(20,833)	6			(47,322)	(63)
Others		2,108	(1)			4,299	5
Income tax benefit	$	(4,124)	1	%	$	(237,380)	(317)	%
[1] For 2014, includes the impact of the Closing Agreement with the P.R. Treasury signed in June 2014.

		Six months ended
		June 30, 2014				June 30, 2013
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax at statutory rates	$	(95,138)	39	%	$	(43,731)	39	%
Net benefit of net tax exempt interest income		(24,944)	10			(19,876)	18
Deferred tax asset valuation allowance		(14,183)	6			(2,975)	3
Non-deductible expenses		178,129	(73)			15,759	(14)
Difference in tax rates due to multiple jurisdictions		(10,488)	4			(5,948)	5
Initial adjustment in deferred tax due to change in tax rate		-	-			(197,467)	176
Effect of income subject to preferential tax rate[1]		(18,555)	8			(45,313)	40
Others		4,319	(2)			5,294	(5)
Income tax expense (benefit)	$	19,140	(8)	%	$	(294,257)	262	%
[1] For 2014, includes the impact of the Closing Agreement with the P.R. Treasury signed in June 2014.