Income taxes (Tables)	9 Months Ended
Income taxes (Tables)	Sep. 30, 2024
Differences Between Income Tax Expense (Benefit) Applicable to Income Before Income Taxes and Amount Computed by Applying the Statutory Tax Rate in Puerto Rico	Quarters ended September 30, 2024 September 30, 2023 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 74,169 38 % $ 68,426 38 % Net benefit of tax exempt interest income (29,055) (13) (22,862) (13) Effect of income subject to preferential tax rate (327) - (199) - Deferred tax asset valuation allowance 451 - 1,355 1 Difference in tax rates due to multiple jurisdictions (6,764) (3) (2,839) (2) U.S., States, and local taxes 3,429 1 2,436 1 Others 560 - (458) - Income tax expense $ 42,463 22 % $ 45,859 25 % Nine months ended September 30, 2024 September 30, 2023 (In thousands) Amount % of pre-tax income Amount % of pre-tax income Computed income tax expense at statutory rates $ 215,582 38 % $ 218,409 38 % Net benefit of tax exempt interest income (91,035) (16) (72,080) (13) Effect of income subject to preferential tax rate (475) - (775) - Deferred tax asset valuation allowance 2,779 - (2,217) - Difference in tax rates due to multiple jurisdictions (11,893) (2) (11,879) (3) Other tax benefits (4,500) (1) - - Tax on intercompany distributions [1] 24,325 4 - - U.S., States, and local taxes 6,669 1 8,829 2 Others (2,962) (1) (4,611) (1) Income tax expense $ 138,490 24 % $ 135,676 23 % [1] Includes $ 16.5 million of out-of-period adjustment.
Components of Deferred Tax Assets and Liabilities	September 30, 2024 (In thousands) PR US Total Deferred tax assets: Tax credits available for carryforward $ 263 $ 20,192 $ 20,455 Net operating loss and other carryforward available 54,294 609,814 664,108 Postretirement and pension benefits 36,895 - 36,895 Allowance for credit losses 248,766 24,588 273,354 Depreciation 6,774 6,864 13,638 Deferred loan origination fees/cost 2,470 (2,323) 147 FDIC-assisted transaction 152,665 - 152,665 Lease liability 26,138 16,913 43,051 Unrealized net loss on investment securities 237,859 13,489 251,348 Difference in outside basis from pass-through entities 47,413 - 47,413 Mortgage Servicing Rights 14,854 - 14,854 Other temporary differences 44,651 9,136 53,787 Total gross deferred tax assets 873,042 698,673 1,571,715 Deferred tax liabilities: Intangibles 87,422 54,256 141,678 Right of use assets 23,725 14,806 38,531 Loans acquired 17,123 - 17,123 Other temporary differences 7,139 422 7,561 Total gross deferred tax liabilities 135,409 69,484 204,893 Valuation allowance 71,596 378,911 450,507 Net deferred tax asset $ 666,037 $ 250,278 $ 916,315 December 31, 2023 (In thousands) PR US Total Deferred tax assets: Tax credits available for carryforward $ 263 $ 10,281 $ 10,544 Net operating loss and other carryforward available 122,634 620,982 743,616 Postretirement and pension benefits 38,121 - 38,121 Allowance for credit losses 244,956 28,222 273,178 Depreciation 6,774 6,578 13,352 FDIC-assisted transaction 152,665 - 152,665 Lease liability 29,070 20,492 49,562 Unrealized net loss on investment securities 312,583 19,037 331,620 Difference in outside basis from pass-through entities 46,056 - 46,056 Mortgage Servicing Rights 14,085 - 14,085 Other temporary differences 47,679 9,625 57,304 Total gross deferred tax assets 1,014,886 715,217 1,730,103 Deferred tax liabilities: Intangibles 84,635 51,944 136,579 Right of use assets 26,648 18,030 44,678 Deferred loan origination fees/cost (1,056) 1,486 430 Loans acquired 20,430 - 20,430 Other temporary differences 6,402 422 6,824 Total gross deferred tax liabilities 137,059 71,882 208,941 Valuation allowance 139,347 374,035 513,382 Net deferred tax asset $ 738,480 $ 269,300 $ 1,007,780
Reconciliation of Unrecognized Tax Benefits	(In millions) 2024 2023 Balance at January 1 $ 1.5 $ 2.5 Balance at March 31 $ 1.5 $ 2.5 Balance at June 30 $ 1.5 $ 2.5 Balance at September 30 $ 1.5 $ 2.5