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Goodwill and other intangible assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure  
Goodwill and accumulated impairment losses by reportable segments
The changes in the carrying amount of goodwill for the year ended
 
December 31, 2023 and 2022, allocated by reportable
 
segments,
were as follows (refer to Note 37 for the definition
 
of the Corporation’s reportable segments):
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2023
Balance at
 
Goodwill on
Goodwill
Balance at
(In thousands)
January 1, 2023
 
acquisition
 
impairment
December 31, 2023
Banco Popular de Puerto Rico
$
436,383
$
-
$
-
$
436,383
Popular U.S.
391,045
-
(23,000)
368,045
Total Popular,
 
Inc.
 
$
827,428
$
-
$
(23,000)
$
804,428
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2022
Balance at
 
Goodwill on
Goodwill
Balance at
(In thousands)
January 1, 2022
 
acquisition
 
impairment
December 31, 2022
Banco Popular de Puerto Rico
$
320,248
$
116,135
$
-
$
436,383
Popular U.S.
400,045
-
(9,000)
391,045
Total Popular,
 
Inc.
 
$
720,293
$
116,135
$
(9,000)
$
827,428
The following tables present the gross amount
 
of goodwill and accumulated impairment losses
 
by reportable segments.
 
 
 
 
 
 
 
 
 
 
 
December 31, 2023
Balance at
Balance at
December 31,
Accumulated
December 31,
2023
impairment
 
2023
(In thousands)
 
(gross amounts)
losses
 
(net amounts)
Banco Popular de Puerto Rico
$
440,184
$
3,801
$
436,383
Popular U.S.
564,456
196,411
368,045
Total Popular,
 
Inc.
 
$
1,004,640
$
200,212
$
804,428
 
 
 
 
 
 
 
 
 
 
 
December 31, 2022
 
Balance at
 
 
Balance at
 
December 31,
Accumulated
December 31,
2022
impairment
 
2022
(In thousands)
 
(gross amounts)
losses
 
(net amounts)
Banco Popular de Puerto Rico
$
440,184
$
3,801
$
436,383
Popular U.S.
564,456
173,411
391,045
Total Popular,
 
Inc.
 
$
1,004,640
$
177,212
$
827,428
Components of other intangible assets subject to amortization
The following table reflects the components of
 
other intangible assets subject to amortization:
Other intangible assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross
Net
Carrying
Accumulated
Carrying
(In thousands)
Amount
Amortization
Value
December 31, 2023
Core deposits
$
12,810
$
11,315
$
1,495
Other customer relationships
14,286
6,777
7,509
Total other intangible
 
assets
$
27,096
$
18,092
$
9,004
December 31, 2022
Core deposits
$
12,810
$
10,034
$
2,776
Other customer relationships
14,286
4,878
9,408
Total other intangible
 
assets
$
27,096
$
14,912
$
12,184
Estimated amortization of the intangible assets with definite useful lives
The following
 
table presents
 
the estimated
 
amortization of
 
the intangible
 
assets with
 
definite useful
 
lives for
 
each of
 
the following
periods:
 
 
 
 
 
 
 
 
(In thousands)
Year 2024
$
2,938
Year 2025
1,750
Year 2026
1,440
Year 2027
959
Year 2028
959
Later years
958