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Employee benefits (Tables) | 12 Months Ended
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Dec. 31, 2019
Table Text Block |
Schedule Of Allocation Of Plan Assets |
| Minimum allotment | Maximum allotment | 2019 | 2018
Equity | 0 | % | 70 | % | 36 | % | 32 | %
Debt securities | 0 | % | 100 | % | 62 | % | 65 | %
Popular related securities | 0 | % | 5 | % | 1 | % | 1 | %
Cash and cash equivalents | 0 | % | 100 | % | 1 | % | 2 | %
|  | 2019 |  | 2018
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Measured at NAV |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Measured at NAV |  | Total
Obligations of the U.S. Government, its agencies, states and political subdivisions | $ | - | $ | 171,744 | $ | - | $ | 7,239 | $ | 178,983 | $ | - | $ | 165,832 | $ | - | $ | 7,137 | $ | 172,969
Corporate bonds and debentures |  | - |  | 304,958 |  | - |  | 7,730 |  | 312,688 |  | - |  | 256,657 |  | - |  | 6,987 |  | 263,644
Equity securities - Common Stocks |  | 116,254 |  | - |  | - |  | - |  | 116,254 |  | 90,175 |  | - |  | - |  | - |  | 90,175
Equity securities - ETF's |  | 52,083 |  | 35,559 |  | - |  | - |  | 87,642 |  | 39,394 |  | 29,635 |  | - |  | - |  | 69,029
Foreign commingled trust funds |  | - |  | - |  | - |  | 82,030 |  | 82,030 |  | - |  | - |  | - |  | 59,362 |  | 59,362
Mutual fund |  | - |  | 4,490 |  | - |  | - |  | 4,490 |  | - |  | 3,630 |  | - |  | - |  | 3,630
Mortgage-backed securities |  | - |  | 5,777 |  | - |  | - |  | 5,777 |  | - |  | 11,349 |  | - |  | - |  | 11,349
Private equity investments |  | - |  | - |  | 74 |  | - |  | 74 |  | - |  | - |  | 68 |  | - |  | 68
Cash and cash equivalents |  | 7,401 |  | - |  | - |  | - |  | 7,401 |  | 10,573 |  | - |  | - |  | - |  | 10,573
Accrued investment income |  | - |  | - |  | 4,596 |  | - |  | 4,596 |  | - |  | - |  | 5,024 |  | - |  | 5,024
Total assets | $ | 175,738 | $ | 522,528 | $ | 4,670 | $ | 96,999 | $ | 799,935 | $ | 140,142 | $ | 467,103 | $ | 5,092 | $ | 73,486 | $ | 685,823
Schedule of changes in plan assets |
(In thousands) |  | 2019 |  | 2018
Balance at beginning of year | $ | 5,092 | $ | 4,758
Actual return on plan assets: |  |  |  |
Purchases, sales, issuance and settlements (net) |  | (422) |  | 334
Balance at end of year | $ | 4,670 | $ | 5,092
Schedule Of Information Popular Inc Shares Of Common Stock Held By The Plans |
(In thousands, except number of shares information) |  | 2019 |  | 2018
Shares of Popular, Inc. common stock |  | 156,444 |  | 152,804
Fair value of shares of Popular, Inc. common stock | $ | 9,191 | $ | 7,215
Dividends paid on shares of Popular, Inc. common stock held by the plan | $ | 177 | $ | 151
Components of Net Periodic Pension/Postretirement Benefit Cost |
|  | Pension Plans |  | OPEB Plan
(In thousands) |  | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017
Personnel costs: |  |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | - | $ | - | $ | - | $ | 759 | $ | 1,028 | $ | 1,026
Other operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Interest cost |  | 28,439 |  | 25,493 |  | 25,889 |  | 5,955 |  | 5,562 |  | 5,703
Expected return on plan assets |  | (32,388) |  | (40,240) |  | (42,752) |  | - |  | - |  | -
Amortization of prior service cost (credit) |  | - |  | - |  | - |  | - |  | (3,470) |  | (3,800)
Recognized net actuarial loss |  | 23,508 |  | 20,260 |  | 21,859 |  | - |  | 1,282 |  | 569
Net periodic benefit (credit) cost | $ | 19,559 | $ | 5,513 | $ | 4,996 | $ | 6,714 | $ | 4,402 | $ | 3,498
Termination benefit loss |  | - |  | - |  | - |  | - |  | 1,790 |  | -
Total benefit cost | $ | 19,559 | $ | 5,513 | $ | 4,996 | $ | 6,714 | $ | 6,192 | $ | 3,498
Schedule Of Aggregate Status Of The Plans And The Amounts Recognized In The Consolidated Financial Statements |
|  |  | Pension Plans |  | OPEB Plan
(In thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Change in benefit obligation: |  |  |  |  |  |  |  |
Benefit obligation at beginning of year | $ | 754,558 | $ | 816,988 | $ | 153,415 | $ | 170,720
Service cost |  | - |  | - |  | 759 |  | 1,028
Interest cost |  | 28,439 |  | 25,493 |  | 5,955 |  | 5,562
Termination benefit loss |  | - |  | - |  | - |  | 1,790
Actuarial (gain) loss[1] |  | 113,642 |  | (47,549) |  | 15,752 |  | (20,547)
Benefits paid |  | (44,088) |  | (40,374) |  | (7,200) |  | (5,138)
Benefit obligation at end of year | $ | 852,551 | $ | 754,558 | $ | 168,681 | $ | 153,415
Change in fair value of plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | $ | 685,823 | $ | 767,539 | $ | - | $ | -
Actual return on plan assets |  | 137,970 |  | (41,572) |  | - |  | -
Employer contributions |  | 20,230 |  | 230 |  | 7,200 |  | 5,138
Benefits paid |  | (44,088) |  | (40,374) |  | (7,200) |  | (5,138)
Fair value of plan assets at end of year | $ | 799,935 | $ | 685,823 | $ | - | $ | -
Funded status of the plan: |  |  |  |  |  |  |  |
Benefit obligation at end of year | $ | (852,551) | $ | (754,558) | $ | (168,681) | $ | (153,415)
Fair value of plan assets at end of year |  | 799,935 |  | 685,823 |  | - |  | -
Funded status at year end | $ | (52,616) | $ | (68,735) | $ | (168,681) | $ | (153,415)
Amounts recognized in accumulated other comprehensive loss: |  |  |  |  |  |  |  |
Net loss |  | 288,882 |  | 304,330 |  | 21,472 |  | 5,720
Accumulated other comprehensive loss (AOCL) | $ | 288,882 | $ | 304,330 | $ | 21,472 | $ | 5,720
Reconciliation of net (liabilities) assets: |  |  |  |  |  |  |  |
Net liabilities at beginning of year | $ | (68,735) | $ | (49,449) | $ | (153,415) | $ | (170,720)
Amount recognized in AOCL at beginning of year, pre-tax |  | 304,330 |  | 290,327 |  | 5,720 |  | 24,079
Amount prepaid at beginning of year |  | 235,595 |  | 240,878 |  | (147,695) |  | (146,641)
Net periodic benefit cost |  | (19,559) |  | (5,513) |  | (6,714) |  | (4,402)
Additional benefit cost |  | - |  | - |  | - |  | (1,790)
Contributions |  | 20,230 |  | 230 |  | 7,200 |  | 5,138
Amount prepaid at end of year |  | 236,266 |  | 235,595 |  | (147,209) |  | (147,695)
Amount recognized in AOCL |  | (288,882) |  | (304,330) |  | (21,472) |  | (5,720)
Net liabilities at end of year | $ | (52,616) | $ | (68,735) | $ | (168,681) | $ | (153,415)
[1] | For 2019, significant components of the Pension Plans actuarial loss that changed the benefit obligation were mainly related to updates in discount and mortality rates. For OPEB Plans significant components of the actuarial loss that change the benefit obligation were mainly related to updates in discount and mortality rates partially offset by update in healthcare election rates and expected annual healthcare costs. For 2018, significant components of the Pension Plans actuarial gains that change the benefit obligation were mostly related to updates in discount rate partially offset by the impact of the 2018 Voluntary Retirement Program. For OPEB Plans significant components of the actuarial gain that change the benefit obligation were mainly related to updates in discount rate and expected annual healthcare costs.
Schedule of defined benefit plan amount recognized in other comprehensive income loss |
(In thousands) |  | Pension Plans |  | OPEB Plan
|  |  | 2019 |  | 2018 |  | 2019 |  | 2018
Accumulated other comprehensive loss at beginning of year | $ | 304,330 | $ | 290,327 | $ | 5,720 | $ | 24,079
Increase (decrease) in AOCL: |  |  |  |  |  |  |  |
Recognized during the year: |  |  |  |  |  |  |  |
| Prior service credit |  | - |  | - |  | - |  | 3,470
| Amortization of actuarial losses |  | (23,508) |  | (20,260) |  | - |  | (1,282)
Occurring during the year: |  |  |  |  |  |  |  |
| Net actuarial (gains) losses |  | 8,060 |  | 34,263 |  | 15,752 |  | (20,547)
Total (decrease) increase in AOCL |  | (15,448) |  | 14,003 |  | 15,752 |  | (18,359)
Accumulated other comprehensive loss at end of year | $ | 288,882 | $ | 304,330 | $ | 21,472 | $ | 5,720
Schedule of Assumptions Used |
|  | Pension Plans |  | OPEB Plan
Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31: | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017 |
Discount rate for benefit obligation | 4.20-4.23 | % | 3.54-3.56 | % | 3.98-4.02 | % | 4.30 | % | 3.62 | % | 4.10 | %
Discount rate for service cost | N/A |  | N/A |  | N/A |  | 4.49 | % | 3.74 | % | 4.30 | %
Discount rate for interest cost | 3.87-3.90 | % | 3.16-3.20 | % | 3.35-3.42 | % | 3.99 | % | 3.32 | % | 3.58 | %
Expected return on plan assets | 5.30-6.00 | % | 5.50-6.00 | % | 6.50 | % | N/A |  | N/A |  | N/A |
Initial health care cost trend rate | N/A |  | N/A |  | N/A |  | 5.00 | % | 5.50 | % | 6.00 | %
Ultimate health care cost trend rate | N/A |  | N/A |  | N/A |  | 5.00 | % | 5.00 | % | 5.00 | %
Year that the ultimate trend rate is reached | N/A |  | N/A |  | N/A |  | 2019 |  | 2019 |  | 2019 |
|  |  |  |  |  | Pension Plans | OPEB Plan
Weighted average assumptions used to determine benefit obligation at December 31: | 2019 |  | 2018 |  | 2019 |  | 2018 |
Discount rate for benefit obligation |  |  |  |  | 3.22-3.27 | % | 4.20-4.23 | % | 3.38 | % | 4.30 | %
Initial health care cost trend rate |  |  |  |  | N/A |  | N/A |  | 5.00 | % | 5.00 | %
Ultimate health care cost trend rate |  |  |  |  | N/A |  | N/A |  | 5.00 | % | 5.00 | %
Year that the ultimate trend rate is reached |  |  |  |  | N/A |  | N/A |  | 2019 |  | 2019 |
Schedule of Accumulated and Projected Benefit Obligations [Table Text Block] |
|  | Pension Plans |  | OPEB Plan
(In thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Projected benefit obligation | $ | 852,551 | $ | 754,558 | $ | 168,681 | $ | 153,415
Accumulated benefit obligation |  | 852,551 |  | 754,558 |  | 168,681 |  | 153,415
Fair value of plan assets |  | 799,935 |  | 685,823 |  | - |  | -
Schedule of employer contribution to benefit plan |
(In thousands) | 2020
Pension Plans | $ | 229
OPEB Plan | $ | 6,515
Schedule of expected benefit payments |
(In thousands) |  | Pension Plans |  | OPEB Plan
2020 | $ | 48,161 | $ | 6,515
2021 |  | 45,152 |  | 6,510
2022 |  | 45,295 |  | 6,661
2023 |  | 45,498 |  | 6,843
2024 |  | 45,696 |  | 7,057
2025 - 2029 |  | 228,701 |  | 38,483
Schedule Of Breakdown Postretirement Health Care Benefit Plan Liabilities |
|  | Pension Plans |  | OPEB Plan
(In thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Current liabilities | $ | 227 | $ | 225 | $ | 6,456 | $ | 8,007
Non-current liabilities |  | 52,389 |  | 68,510 |  | 162,225 |  | 145,408

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