XML 46 R35.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

TAX CREDIT AND OTHER INVESTMENTS IN UNCONSOLIDATED ENTITIES (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Investments, All Other Investments [Abstract] |
Schedule of Investments | Busey’s investments in these unconsolidated entities and related unfunded investment obligations are reflected in other assets and other liabilities on the Consolidated Balance Sheets (Unaudited), and are summarized in the table below for the periods indicated (dollars in thousands):
|  |  |  | As of
|  | Location |  | June 30, 2024 |  | December 31, 2023
Investments in unconsolidated entities |  |  |  |  |  |
Funded investments |  | Other assets |  | $ | 65,595 |  |  | $ | 68,516 |
Unfunded investments |  | Other assets |  | 71,785 |  |  | 58,552 |
Investments in unconsolidated entities |  |  |  | $ | 137,380 |  |  | $ | 127,068 |
Unfunded investment obligations |  | Other liabilities |  | $ | 71,785 |  |  | $ | 58,552 |
Upon adoption of ASU 2023-02 on January 1, 2024, Busey elected to apply the proportional amortization method in accounting for investments in tax-advantaged projects. Estimated income tax credits and other tax benefits related to these investments, net of investment amortization, are included as a component of our estimated annual effective tax rate used for the calculation of income taxes presented in the Consolidated Statements of Income (Unaudited). Actual amounts of income tax credits and other benefits, along with the investment amortization, are presented in the table below (dollars in thousands):
| Three Months Ended June 30, 2024 |  | Six Months Ended June 30, 2024
Income tax credits and other tax benefits | $ | 3,765 |  |  |  |  | $ | 7,866 |  |  |
Amortization of investments in tax-advantaged projects | 3,339 |  |  |  |  | 6,986 |  |  |

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration