XML 279 R246.htm IDEA: XBRL DOCUMENT v3.24.0.1
Popular, Inc. (Holding company only) financial information (Statement of Cash Flows) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 541,342 $ 1,102,641 $ 934,889
Net increase (decrease) in:      
Provision for credit losses (benefit) 208,609 83,030 (193,464)
Amortization of intangibles 3,180 3,275 9,134
Net accretion of discounts and amortization of premiums and deferred fees (45,249) 29,120 (21,962)
Share-based compensation 16,773 16,727 17,774
Losses (earnings) from investments under the equity method, net of dividends or distributions 27,450 29,522 50,942
Disposition of stock as part of the Evertec Transactions 0 (240,412) 0
Sale of foreclosed assets, including write-downs (22,665) (33,008) (30,098)
Net increase in:      
Equity securities (11,341) 54 (2,336)
Net increase (decrease) in:      
Interest payable 19,814 6,061 (5,395)
Other liabilities (41,410) (20,724) 22,802
Total adjustments 145,270 (88,103) 70,269
Net cash provided by operating activities 686,612 1,014,538 1,005,158
Cash flows from investing activities:      
Net (increase) decrease in money market investments (1,383,821) 11,922,703 (5,895,789)
Proceeds from calls, paydowns, maturities and redemptions of investment securities held-to-maturity 458,806 9,826 15,700
Return of capital from equity method investments 249 681 6,362
Acquisition of premises and equipment (208,044) (103,789) (72,781)
Proceeds from sale of premises and equipment 8,658 10,305 21,482
Proceeds from sale of foreclosed assets 109,547 107,203 86,942
Net cash (used in) provided by investing activities (2,613,407) 5,350,200 (10,518,650)
Cash flows from financing activities:      
Payment of notes payable (343,261) (103,147) (237,713)
Proceeds from issuance of notes payable 441,705 0 0
Proceeds from issuance of common stock 6,311 5,837 4,674
Dividends paid (159,860) (161,516) (141,466)
Net payments for repurchase of common stock (461) (631,893) (350,535)
Payments related to tax witholding for share-based compensation (4,089) (5,771) (5,115)
Net cash used in financing activities 1,878,211 (6,323,091) 9,450,910
Net increase in cash and due from banks, and restricted cash (48,584) 41,647 (62,582)
Cash and due from banks and restricted cash at beginning of period 476,159 434,512 497,094
Cash and due from banks and restricted cash at end of period 427,575 476,159 434,512
Popular, Inc. Holding Co.      
Cash flows from operating activities:      
Net income 541,342 1,102,641 934,889
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in undistributed earnings of subsidiaries (357,014) (526,603) (151,737)
Net increase (decrease) in:      
Provision for credit losses (benefit) (300) 274 (215)
Amortization of intangibles 0 0 5,656
Net accretion of discounts and amortization of premiums and deferred fees 1,754 1,250 1,241
Share-based compensation 9,735 9,440 8,895
Losses (earnings) from investments under the equity method, net of dividends or distributions 84 (14,170) (26,360)
Disposition of stock as part of the Evertec Transactions 0 (137,813) 0
Sale of foreclosed assets, including write-downs 0 0 59
Net increase in:      
Equity securities (5,158) (339) (3,662)
Other assets (62) (1,952) (1,970)
Net increase (decrease) in:      
Interest payable 3,239 0 (1,042)
Other liabilities (3,377) 8,257 19,095
Total adjustments (351,099) (661,656) (150,040)
Net cash provided by operating activities 190,243 440,985 784,849
Cash flows from investing activities:      
Net (increase) decrease in money market investments (165,000) 129,000 (94,000)
Proceeds from calls, paydowns, maturities and redemptions of investment securities held-to-maturity 0 0 5,601
Net repayments on other loans 1,252 1,267 1,879
Capital contribution to subsidiaries (4,150) (54,188) (12,900)
Return of capital from wholly owned subsidiaries 64,000 72,000 0
Proceeds from disposition of stock as part of the Evertec Transactions 0 219,883 0
Acquisition of premises and equipment (2,266) (2,224) (1,788)
Proceeds from sale of premises and equipment 68 1,678 83
Proceeds from sale of foreclosed assets 0 0 87
Net cash (used in) provided by investing activities (106,096) 367,416 (101,038)
Cash flows from financing activities:      
Payment of notes payable (300,000) 0 (186,664)
Proceeds from issuance of notes payable 393,061 0 0
Proceeds from issuance of common stock 14,045 13,479 10,493
Dividends paid (159,860) (161,516) (141,466)
Net payments for repurchase of common stock (1,396) (631,965) (350,656)
Payments related to tax witholding for share-based compensation (4,083) (5,771) (5,107)
Net cash used in financing activities (58,233) (785,773) (673,400)
Net increase in cash and due from banks, and restricted cash 25,914 22,628 10,411
Cash and due from banks and restricted cash at beginning of period 102,933 80,305 69,894
Cash and due from banks and restricted cash at end of period $ 128,847 $ 102,933 $ 80,305