Income taxes (Tables)

3 Months Ended

Mar. 31, 2018

Schedule Of Deferred Tax Assets And Liabilities Table Text Block

			March 31, 2018
(In thousands)			PR		US		Total
Deferred tax assets:
Tax credits available for carryforward		$	16,069	$	7,859	$	23,928
Net operating loss and other carryforward available			120,973		705,651		826,624
Postretirement and pension benefits			84,204		-		84,204
Deferred loan origination fees			3,210		593		3,803
Allowance for loan losses			596,211		21,053		617,264
Deferred gains			-		2,596		2,596
Accelerated depreciation			1,300		7,213		8,513
Intercompany deferred (loss) gains			1,324		-		1,324
Difference in outside basis from pass-through entities			27,034		-		27,034
Other temporary differences			27,293		6,678		33,971
	Total gross deferred tax assets		877,618		751,643		1,629,261
Deferred tax liabilities:
FDIC-assisted transaction			60,406		-		60,406
Indefinite-lived intangibles			32,848		34,135		66,983
Unrealized net gain (loss) on trading and available-for-sale securities			19,457		(13,951)		5,506
Other temporary differences			10,199		386		10,585
	Total gross deferred tax liabilities		122,910		20,570		143,480
Valuation allowance			74,489		381,451		455,940
Net deferred tax asset		$	680,219	$	349,622	$	1,029,841
			December 31, 2017
(In thousands)			PR		US		Total
Deferred tax assets:
Tax credits available for carryforward		$	16,069	$	7,979	$	24,048
Net operating loss and other carryforward available			115,512		708,158		823,670
Postretirement and pension benefits			85,488		-		85,488
Deferred loan origination fees			3,669		958		4,627
Allowance for loan losses			603,462		20,708		624,170
Deferred gains			-		2,670		2,670
Accelerated depreciation			1,300		7,083		8,383
Intercompany deferred (loss) gains			224		-		224
Difference in outside basis from pass-through entities			30,424		-		30,424
Other temporary differences			25,084		6,901		31,985
	Total gross deferred tax assets		881,232		754,457		1,635,689
Deferred tax liabilities:
FDIC-assisted transaction			60,402		-		60,402
Indefinite-lived intangibles			31,973		33,009		64,982
Unrealized net gain (loss) on trading and available-for-sale securities			26,364		(7,961)		18,403
Other temporary differences			9,876		386		10,262
	Total gross deferred tax liabilities		128,615		25,434		154,049
Valuation allowance			67,263		380,561		447,824
Net deferred tax asset		$	685,354	$	348,462	$	1,033,816

Summary Of Income Tax Contingencies Text Block

(In millions)		2018		2017
Balance at January 1	$	7.3	$	7.4
Additions for tax positions -January through March		0.2		0.2
Balance at March 31	$	7.5	$	7.6

PUERTO RICO

Schedule Of Effective Income Tax Rate Reconciliation Table Text Block

		Quarters ended
		March 31, 2018				March 31, 2017
(In thousands)		Amount	% of pre-tax income			Amount	% of pre-tax income
Computed income tax expense at statutory rates	$	44,257	39	%	$	49,121	39	%
Net benefit of tax exempt interest income		(22,993)	(20)			(18,004)	(14)
Deferred tax asset valuation allowance		7,226	6			5,056	4
Difference in tax rates due to multiple jurisdictions		(2,959)	(2)			(959)	(1)
Effect of income subject to preferential tax rate		(3,048)	(3)			(3,019)	(3)
Adjustments in net deferred tax due to change in tax law		(5,133)	(4)			-	-
State and local taxes		1,363	1			1,279	1
Others		3,442	3			(468)	-
Income tax (benefit) expense	$	22,155	20	%	$	33,006	26	%