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Goodwill and other intangible assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure

Goodwill And Other Intangible Assets

Note 13 – Goodwill and other intangible assets

Goodwill

There were no changes in the carrying amount of goodwill during the quarters ended March 31, 2022 and 2021.

The following tables present the gross amount of goodwill and accumulated impairment losses by reportable segments:


March 31, 2022
	Balance at				Balance at
	March 31,		Accumulated		March 31,
	2022		impairment		2022
(In thousands)	(gross amounts)		losses		(net amounts)
Banco Popular de Puerto Rico	$	324,049	$	3,801	$	320,248
Popular U.S.		564,456		164,411		400,045
Total Popular, Inc.	$	888,505	$	168,212	$	720,293

December 31, 2021
	Balance at				Balance at
	December 31,		Accumulated		December 31,
	2021		impairment		2021
(In thousands)	(gross amounts)		losses		(net amounts)
Banco Popular de Puerto Rico	$	324,049	$	3,801	$	320,248
Popular U.S.		564,456		164,411		400,045
Total Popular, Inc.	$	888,505	$	168,212	$	720,293

Other Intangible Assets

At March 31, 2022 and December 31, 2021, the Corporation had $0.7 million of identifiable intangible assets with indefinite useful lives.

The following table reflects the components of other intangible assets subject to amortization:

		Gross Carrying			Accumulated		Net Carrying
(In thousands)			Amount		Amortization		Value
March 31, 2022
	Core deposits	$	12,810	$	9,074	$	3,736
	Other customer relationships		14,286		3,454		10,832
Total other intangible assets		$	27,096	$	12,528	$	14,568
December 31, 2021
	Core deposits	$	12,810	$	8,754	$	4,056
	Other customer relationships		14,286		2,883		11,403
Total other intangible assets		$	27,096	$	11,637	$	15,459

During the quarter ended March 31, 2022, the Corporation recognized $0.9 million in amortization expense related to other intangible assets with definite useful lives (March 31, 2021 - $1.1 million).

The following table presents the estimated amortization of the intangible assets with definite useful lives for each of the following periods:

(In thousands)
Remaining 2022	$	2,384
Year 2023		3,179
Year 2024		2,938
Year 2025		1,750
Year 2026		1,440
Later years		2,877