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Income taxes - Components of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Dec. 31, 2020
--- | --- | ---
Deferred tax assets: |  |
Tax credits available for carryforward | $ 5,784 | $ 8,272
Net operating loss and other carryforward available | 822,222 | 823,197
Postretirement and pension benefits | 75,555 | 80,179
Deferred loan origination fees | 16,604 | 9,427
Allowance for credit losses | 309,587 | 411,616
Accelerated depreciation | 11,683 | 8,829
FDIC-assisted transaction | 152,665 | 152,665
Deferred Tax Assets Intercompany deferred gains | 1,782 | 1,728
Lease liability | 46,596 | 41,640
Difference in outside basis from pass-through entities | 61,140 | 61,222
Other temporary differences | 48,136 | 46,298
Total gross deferred tax assets | 1,551,754 | 1,645,073
Deferred tax liabilities: |  |
Indefinite-lived intangibles | 124,903 | 111,050
Unrealized net gain (loss) on trading and available-for-sale securities | 50,182 | 75,598
Right of use assets | 40,780 | 36,218
Other temporary differences | 53,392 | 51,416
Total gross deferred tax liabilities | 269,257 | 274,282
Valuation allowance | 537,733 | 520,096
Net deferred tax asset | 744,764 | 850,695
PR |  |
Deferred tax assets: |  |
Tax credits available for carryforward | 3,003 | 3,003
Net operating loss and other carryforward available | 131,938 | 124,355
Postretirement and pension benefits | 75,555 | 80,179
Deferred loan origination fees | 20,174 | 12,079
Allowance for credit losses | 270,124 | 373,010
Accelerated depreciation | 4,400 | 3,439
FDIC-assisted transaction | 152,665 | 152,665
Deferred Tax Assets Intercompany deferred gains | 1,782 | 1,728
Lease liability | 21,554 | 22,790
Difference in outside basis from pass-through entities | 61,140 | 61,222
Other temporary differences | 39,801 | 38,954
Total gross deferred tax assets | 782,136 | 873,424
Deferred tax liabilities: |  |
Indefinite-lived intangibles | 74,970 | 73,305
Unrealized net gain (loss) on trading and available-for-sale securities | 43,406 | 67,003
Right of use assets | 19,466 | 20,708
Other temporary differences | 51,885 | 50,247
Total gross deferred tax liabilities | 189,727 | 211,263
Valuation allowance | 121,614 | 112,871
Net deferred tax asset | 470,795 | 549,290
US |  |
Deferred tax assets: |  |
Tax credits available for carryforward | 2,781 | 5,269
Net operating loss and other carryforward available | 690,284 | 698,842
Postretirement and pension benefits | 0 | 0
Deferred loan origination fees | (3,570) | (2,652)
Allowance for credit losses | 39,463 | 38,606
Accelerated depreciation | 7,283 | 5,390
FDIC-assisted transaction | 0 | 0
Deferred Tax Assets Intercompany deferred gains | 0 | 0
Lease liability | 25,042 | 18,850
Difference in outside basis from pass-through entities | 0 | 0
Other temporary differences | 8,335 | 7,344
Total gross deferred tax assets | 769,618 | 771,649
Deferred tax liabilities: |  |
Indefinite-lived intangibles | 49,933 | 37,745
Unrealized net gain (loss) on trading and available-for-sale securities | 6,776 | 8,595
Right of use assets | 21,314 | 15,510
Other temporary differences | 1,507 | 1,169
Total gross deferred tax liabilities | 79,530 | 63,019
Valuation allowance | 416,119 | 407,225
Net deferred tax asset | $ 273,969 | $ 301,405

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