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Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Components of Income Tax (Benefit) Expense | The components of income tax (benefit) expense consisted of the following:
|  | Years ended December 31, |
(Dollar amounts in thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
|  |  |  |  | (As restated) |
Current tax (benefit) provision |  | $ | (245 | ) |  | $ | 12,602 |  |  | $ | 4,854 |
Deferred tax benefit |  |  | (3,090 | ) |  |  | (3,701 | ) |  |  | (3,419 | )
Income tax (benefit) expense |  | $ | (3,335 | ) |  | $ | 8,901 |  |  | $ | 1,435 |
Segregation of Income Tax Expense (Benefit) Based on Location of Operations | The Company conducts operations in Puerto Rico and certain countries throughout the Caribbean and Latin America. As a result, the income tax expense (benefit) includes the effect of taxes paid to the Puerto Rico government as well as foreign jurisdictions. The following table presents the segregation of income tax expense (benefit) based on location of operations:
|  | Years ended December 31, |
(Dollar amounts in thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
|  |  |  |  | (As restated) |
Income (loss) before income tax provision (benefit) |  |  |  |  |  |  |  |  |  |  |  |
Puerto Rico |  | $ | 73,327 |  |  | $ | 61,759 |  |  | $ | (34,565 | )
United States |  |  | 1,879 |  |  |  | 2,131 |  |  |  | 2,031 |
Foreign countries |  |  | 6,836 |  |  |  | 11,168 |  |  |  | 6,852 |
Total income (loss) before income tax provision (benefit) |  | $ | 82,042 |  |  | $ | 75,058 |  |  | $ | (25,682 | )
Current tax (benefit) provision |  |  |  |  |  |  |  |  |  |  |  |
Puerto Rico |  | $ | (3,500 | ) |  | $ | 8,090 |  |  | $ | 2,057 |
United States |  |  | 413 |  |  |  | (517 | ) |  |  | 753 |
Foreign countries |  |  | 2,842 |  |  |  | 5,029 |  |  |  | 2,044 |
Total currrent tax (benefit) provision |  | $ | (245 | ) |  | $ | 12,602 |  |  | $ | 4,854 |
Deferred tax benefit |  |  |  |  |  |  |  |  |  |  |  |
Puerto Rico |  | $ | (2,169 | ) |  | $ | (1,933 | ) |  | $ | (2,812 | )
United States |  |  | (114 | ) |  |  | (124 | ) |  |  | (4 | )
Foreign countries |  |  | (807 | ) |  |  | (1,644 | ) |  |  | (603 | )
Total deferred tax benefit |  | $ | (3,090 | ) |  | $ | (3,701 | ) |  | $ | (3,419 | )
Components of Deferred Tax Assets and Liabilities | The following table presents the components of the Company’s deferred tax assets and liabilities:
|  | December 31, |
(Dollar amounts in thousands) |  | 2015 |  |  | 2014 |
|  |  |  |  | (As Restated) |
Deferred tax assets (“DTA”) |  |  |  |  |  |  |  |
Allowance for doubtful accounts |  | $ | 420 |  |  | $ | 245 |
Unearned income |  |  | 1,315 |  |  |  | 1,149 |
Investment in equity subsidiary |  |  | 292 |  |  |  | 304 |
Alternative minimum tax |  |  | 400 |  |  |  | 495 |
Share-based compensation |  |  | 379 |  |  |  | 89 |
Other temporary assets |  |  | 679 |  |  |  | 687 |
Total gross deferred tax assets |  |  | 3,485 |  |  |  | 2,969 |
Deferred tax liabilities (“DTL”) |  |  |  |  |  |  |  |
Deferred compensation |  | $ | 1,270 |  |  | $ | 1,144 |
Difference between the assigned values and the tax basis of assets and liabilities recognized in purchase |  |  | 21,144 |  |  |  | 23,844 |
Total gross deferred tax liabilities |  |  | 22,414 |  |  |  | 24,988 |
Deferred tax liability, net |  | $ | (18,929 | ) |  | $ | (22,019 | )
Reconciliation of Total Amounts of Unrecognized Tax Benefits | The following is a tabular reconciliation of the total amounts of UTBs:
|  | Years ended December 31, |
(Dollar amounts in thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
|  |  |  |  | (As Restated) |
Balance, beginning of year |  | $ | 19,859 |  |  | $ | 20,616 |  |  | $ | 20,112 |
Gross increases—tax positions in prior period |  |  | 53 |  |  |  | — |  |  |  | 2,323 |
Gross decreases—tax positions in prior period |  |  | — |  |  |  | (757 | ) |  |  | (1,889 | )
Gross increases—tax positions in current period |  |  | — |  |  |  | — |  |  |  | 916 |
Lapse of statute of limitations |  |  | (7,065 | ) |  |  | — |  |  |  | (846 | )
Balance, end of year |  | $ | 12,847 |  |  | $ | 19,859 |  |  | $ | 20,616 |
Income Tax Expense Differs from Computed Income Tax at Statutory Rates | The income tax expense differs from the amount computed by applying the Puerto Rico statutory income tax rate to the income (loss) before income taxes as a result of the following:
|  | Years ended December 31, |
(Dollar amounts in thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
|  |  |  |  | (As restated) |
Computed income tax at statutory rates |  | $ | 31,996 |  |  | $ | 29,435 |  |  | $ | (10,109 | )
Benefit of net tax-exempt interest income |  |  | (284 | ) |  |  | — |  |  |  | (180 | )
Differences in tax rates due to multiple jurisdictions |  |  | 37 |  |  |  | (942 | ) |  |  | 577 |
Tax (benefit) expense due to a change in estimate |  |  | (201 | ) |  |  | (916 | ) |  |  | 83 |
Adjustment to deferred taxes due to changes in enacted tax rate and tax grant |  |  | — |  |  |  | (731 | ) |  |  | 3,568 |
Effect of net disallowed operating losses in foreign entities |  |  | 103 |  |  |  | 83 |  |  |  | 93 |
Effect of income subject to tax-exemption grant |  |  | (23,375 | ) |  |  | (19,858 | ) |  |  | 6,242 |
Unrecognized tax benefit |  |  | (11,626 | ) |  |  | 1,830 |  |  |  | 1,168 |
Other |  |  | 15 |  |  |  | — |  |  |  | (7 | )
Income tax (benefit) expense |  | $ | (3,335 | ) |  | $ | 8,901 |  |  | $ | 1,435 |

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