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Income taxes - Components of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020
--- | --- | ---
Deferred tax assets: |  |
Tax credits available for carryforward | $ 3,042 | $ 8,272
Net operating loss and other carryforward available | 777,495 | 823,197
Postretirement and pension benefits | 57,002 | 80,179
Deferred loan origination fees | 2,788 | 9,427
Allowance for credit losses | 265,372 | 411,616
Deferred gains | 1,642 |
Accelerated depreciation | 12,668 | 8,829
FDIC-assisted transaction | 152,665 | 152,665
Intercompany deferred gains |  | 1,728
Lease liability | 55,105 | 41,640
Difference in outside basis from pass-through entities | 54,781 | 61,222
Other temporary differences | 46,930 | 46,298
Total gross deferred tax assets | 1,429,490 | 1,645,073
Deferred tax liabilities: |  |
Indefinite-lived intangibles | 127,785 | 111,050
Unrealized net gain (loss) on trading and available-for-sale securities | 7,146 | 75,598
Deferred loan origination fees/cost | 3,567 |
Right of use assets | 49,307 | 36,218
Other temporary differences | 45,386 | 51,416
Total gross deferred tax liabilities | 233,191 | 274,282
Valuation allowance | 539,527 | 520,096
Net deferred tax asset | 656,772 | 850,695
PR |  |
Deferred tax assets: |  |
Tax credits available for carryforward | 261 | 3,003
Net operating loss and other carryforward available | 112,331 | 124,355
Postretirement and pension benefits | 57,002 | 80,179
Deferred loan origination fees | 2,788 | 12,079
Allowance for credit losses | 233,500 | 373,010
Deferred gains | 1,642 |
Accelerated depreciation | 5,246 | 3,439
FDIC-assisted transaction | 152,665 | 152,665
Intercompany deferred gains |  | 1,728
Lease liability | 31,211 | 22,790
Difference in outside basis from pass-through entities | 54,781 | 61,222
Other temporary differences | 38,512 | 38,954
Total gross deferred tax assets | 689,939 | 873,424
Deferred tax liabilities: |  |
Indefinite-lived intangibles | 76,635 | 73,305
Unrealized net gain (loss) on trading and available-for-sale securities | 4,329 | 67,003
Deferred loan origination fees/cost | 0 |
Right of use assets | 29,025 | 20,708
Other temporary differences | 43,856 | 50,247
Total gross deferred tax liabilities | 153,845 | 211,263
Valuation allowance | 128,557 | 112,871
Net deferred tax asset | 407,537 | 549,290
US |  |
Deferred tax assets: |  |
Tax credits available for carryforward | 2,781 | 5,269
Net operating loss and other carryforward available | 665,164 | 698,842
Postretirement and pension benefits | 0 | 0
Deferred loan origination fees | 0 | (2,652)
Allowance for credit losses | 31,872 | 38,606
Deferred gains | 0 |
Accelerated depreciation | 7,422 | 5,390
FDIC-assisted transaction | 0 | 0
Intercompany deferred gains |  | 0
Lease liability | 23,894 | 18,850
Difference in outside basis from pass-through entities | 0 | 0
Other temporary differences | 8,418 | 7,344
Total gross deferred tax assets | 739,551 | 771,649
Deferred tax liabilities: |  |
Indefinite-lived intangibles | 51,150 | 37,745
Unrealized net gain (loss) on trading and available-for-sale securities | 2,817 | 8,595
Deferred loan origination fees/cost | 3,567 |
Right of use assets | 20,282 | 15,510
Other temporary differences | 1,530 | 1,169
Total gross deferred tax liabilities | 79,346 | 63,019
Valuation allowance | 410,970 | 407,225
Net deferred tax asset | $ 249,235 | $ 301,405

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- Definition The sum of the tax effects as of the balance sheet date of the amount of excesses of tax deductions over gross income in a year which cannot be used on the tax returns in the current year but can be carried forward to reduce taxable income or income taxes payable in a future year, for which there must be sufficient tax-basis income to utilize a portion or all of the carryforward amount to realize the deferred tax asset (Includes operating loss and pension carryforwards). + References No definition available. + Details
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