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Income taxes - Differences between income tax expense (benefit) in Puerto Rico (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020
Amount |  |  |  |
Income tax expense | $ 73,093 | $ 24,628 | $ 149,924 | $ 27,725
PR |  |  |  |
Amount |  |  |  |
Computed income tax at statutory rates | 109,189 | 57,096 | 236,488 | 71,121
Benefit of net tax exempt interest income | (36,840) | (29,424) | (71,003) | (62,320)
Deferred tax asset valuation allowance | 5,832 | 2,610 | 16,153 | 8,148
Difference in tax rates due to multiple jurisdictions | (4,881) | (4,210) | (15,829) | 4,665
Effect of income subject to preferential tax rate | (1,405) | (2,727) | (4,734) | (4,627)
Adjustments in net deferred tax due to change in tax law | (405) | (2,153) | (10,733) | 6,851
State and local taxes | 2,530 | 2,614 | 2,591 | 2,059
Other | (927) | 822 | (3,009) | 1,828
Income tax expense | $ 73,093 | $ 24,628 | $ 149,924 | $ 27,725
% of pre-tax income |  |  |  |
Computed income tax at statutory rates | 38.00% | 38.00% | 38.00% | 38.00%
Benefit of net tax exempt interest income | (13.00%) | (19.00%) | (11.00%) | (33.00%)
Deferred tax asset valuation allowance | 2.00% | 2.00% | 3.00% | 4.00%
Difference in tax rates due to multiple jurisdictions | (2.00%) | (3.00%) | (3.00%) | 2.00%
Effect of income subject to preferential tax rate | (1.00%) | (2.00%) | (1.00%) | (2.00%)
Adjustments in net deferred tax due to change in tax law | 0.00% | (2.00%) | (2.00%) | 4.00%
State and local taxes | 1.00% | 2.00% | 0.00% | 1.00%
Others | 0.00% | 0.00% | 0.00% | 1.00%
Income tax expense | 25.00% | 16.00% | 24.00% | 15.00%

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