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Income taxes - Components of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021
--- | --- | ---
Deferred tax assets: |  |
Tax credits available for carryforward | $ 3,042 | $ 3,042
Net operating loss and other carryforward available | 772,095 | 777,495
Postretirement and pension benefits | 52,779 | 57,002
Deferred loan origination fees/cost | 21 | 2,788
Allowance for credit losses | 264,407 | 265,372
Deferred gains |  | 1,642
Accelerated depreciation | 12,514 | 12,668
FDIC-assisted transaction | 152,665 | 152,665
Intercompany deferred gains | 2,477 |
Lease liability | 52,119 | 55,105
Unrealized net gain on trading and available-for-sale securities | 212,359 |
Difference in outside basis from pass-through entities | 46,112 | 54,781
Other temporary differences | 41,992 | 46,930
Total gross deferred tax assets | 1,612,582 | 1,429,490
Deferred tax liabilities: |  |
Indefinite-lived intangibles | 131,174 | 127,785
Unrealized net gain (loss) on trading and available-for-sale securities |  | 7,146
Right of use assets | 46,426 | 49,307
Deferred loan origination fees/cost | 5,092 | 3,567
Other temporary differences | 44,574 | 45,386
Total gross deferred tax liabilities | 227,266 | 233,191
Valuation allowance | 568,966 | 539,527
Net deferred tax asset | 816,350 | 656,772
PR |  |
Deferred tax assets: |  |
Tax credits available for carryforward | 261 | 261
Net operating loss and other carryforward available | 119,891 | 112,331
Postretirement and pension benefits | 52,779 | 57,002
Deferred loan origination fees/cost | 21 | 2,788
Allowance for credit losses | 233,382 | 233,500
Deferred gains |  | 1,642
Accelerated depreciation | 5,246 | 5,246
FDIC-assisted transaction | 152,665 | 152,665
Intercompany deferred gains | 2,477 |
Lease liability | 30,152 | 31,211
Unrealized net gain on trading and available-for-sale securities | 196,221 |
Difference in outside basis from pass-through entities | 46,112 | 54,781
Other temporary differences | 33,701 | 38,512
Total gross deferred tax assets | 872,908 | 689,939
Deferred tax liabilities: |  |
Indefinite-lived intangibles | 78,300 | 76,635
Unrealized net gain (loss) on trading and available-for-sale securities |  | 4,329
Right of use assets | 27,927 | 29,025
Deferred loan origination fees/cost | 1,431 | 0
Other temporary differences | 43,044 | 43,856
Total gross deferred tax liabilities | 150,702 | 153,845
Valuation allowance | 134,495 | 128,557
Net deferred tax asset | 587,711 | 407,537
US |  |
Deferred tax assets: |  |
Tax credits available for carryforward | 2,781 | 2,781
Net operating loss and other carryforward available | 652,204 | 665,164
Postretirement and pension benefits | 0 | 0
Deferred loan origination fees/cost | 0 | 0
Allowance for credit losses | 31,025 | 31,872
Deferred gains |  | 0
Accelerated depreciation | 7,268 | 7,422
FDIC-assisted transaction | 0 | 0
Intercompany deferred gains | 0 |
Lease liability | 21,967 | 23,894
Unrealized net gain on trading and available-for-sale securities | 16,138 |
Difference in outside basis from pass-through entities | 0 | 0
Other temporary differences | 8,291 | 8,418
Total gross deferred tax assets | 739,674 | 739,551
Deferred tax liabilities: |  |
Indefinite-lived intangibles | 52,874 | 51,150
Unrealized net gain (loss) on trading and available-for-sale securities |  | 2,817
Right of use assets | 18,499 | 20,282
Deferred loan origination fees/cost | 3,661 | 3,567
Other temporary differences | 1,530 | 1,530
Total gross deferred tax liabilities | 76,564 | 79,346
Valuation allowance | 434,471 | 410,970
Net deferred tax asset | $ 228,639 | $ 249,235

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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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