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Income taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule Of Statutory Tax Rates

Statutory tax rates in the countries in which the Company operates for fiscal years 2018, 2017 and 2016 were as follows:

		2018		2017		2016
Puerto Rico		20%		20%		20%
Martinique, French Guyana, Guadeloupe		33%		35%		35%
St Croix, St. Thomas		23%		35%		35%
Aruba		25%		35%		35%
Curacao		22%		35%		35%
Argentina		30%		35%		35%
Brazil and Venezuela		34%		34%		34%
Colombia		37%		40%		40%
Peru		30%		30%		28%
Costa Rica and Mexico		30%		30%		30%
Panamá, Uruguay, Trinidad and Tobago and Netherlands		25%		25%		25%
Ecuador		28%		25%		25%
Chile		27%		26%		24%

Schedule Of Components Of Income Tax Expense

Income tax expense for fiscal years 2018, 2017 and 2016 consisted of the following:

		2018				2017				2016
Current income tax expense		$	47,488			$	51,215			$	54,142
Deferred income tax expense		648				2,099				5,499
Income tax expense		$	48,136			$	53,314			$	59,641

Schedule Of Components Of Income Tax Expense By Applying Weighted-Average Statutory Income Tax Rate

Income tax expense for fiscal years 2018, 2017 and 2016 differed from the amounts computed by applying the Company’s weighted-average statutory income tax rate to pre-tax income as a result of the following:

		2018				2017				2016
Pre-tax income		$	85,169			$	182,813			$	138,629
Weighted-average statutory income tax rate (i)		42.7		%		35.5		%		35.4		%
Income tax expense at weighted-average statutory tax rate on pre-tax income		36,354				64,901				49,030
Permanent differences:
Change in valuation allowance (ii)		(24,307		)		(21,241		)		(19,217		)
Expiration and changes in tax loss carryforwards (iii)		18,599				12,785				18,234
Venezuelan remeasurement and inflationary impacts (iv)		16,857				2,683				4,368
Non-taxable income and non-deductible expenses		8,406				10,157				12,915
Tax benefits, including Brazil and other		(11,403		)		(10,744		)		(14,437		)
Income taxes withholdings on intercompany transactions (v)		7,723				6,804				22,379
Differences including exchange rate, inflation adjustment and filing differences		(2,815		)		(11,909		)		(13,002		)
Alternative Taxes		(1,283		)		156				(114		)
Others		5				(278		)		(515		)
Income tax expense		$	48,136			$	53,314			$	59,641

(i) Weighted-average statutory income tax rate is calculated based on the aggregated amount of the income before taxes by country multiplied by the prevailing statutory income tax rate, divided by the consolidated income before taxes.

(ii) Comprises net changes in valuation allowances for the year, mainly related to Non-Operating Losses (NOLs).

(iii) Expiration of loss tax carryforwards are mainly generated by Holding legal entities and the Caribbean division.

(iv) Comprises changes in valuation allowance during 2018, 2017 and 2016 for $304, $2,108 and $2,180, respectively.

(v) Comprises income tax withheld on the payment of interest on intercompany loans. In 2016 this item also includes the withholding income tax of $18.2 million due the repayment of the Company’s 2016 Notes

Schedule Of Deferred Tax Assets And Liabilities

The tax effects of temporary differences and carryforwards that comprise significant portions of deferred tax assets and liabilities at December 31, 2018 and 2017 are presented below:

		2018				2017
Tax loss carryforwards (i)		$	178,993			$	238,082
Purchase price allocation adjustment		17,006				24,437
Property and equipment, tax inflation		38,588				37,577
Other accrued payroll and other liabilities		30,300				30,730
Share-based compensation		2,591				3,850
Provision for contingencies		2,708				2,478
Other deferred tax assets (ii)		26,193				21,528
Other deferred tax liabilities (iii)		(7,979		)		(10,670		)
Property and equipment - difference in depreciation rates		(11,103		)		(12,639		)
Valuation allowance (iv)		(219,920		)		(271,651		)
Net deferred tax asset		$	57,377			$	63,722

(i) As of December 31, 2018, the Company and its subsidiaries has accumulated operating tax loss carryforwards amounting to $649,312. The Company has operating tax loss carryforwards amounting to $151,343, expiring between 2019 and 2023. In addition, the Company has operating tax loss carryforwards amounting to $211,043 expiring after 2023 and operating tax loss carryforwards amounting to $286,926 that do no expire. Changes in tax loss carryforwards for the year relate to the use of NOLs, mainly in Brazil, Colombia and Chile, and the expiration of tax loss carryforwards in other markets.

(ii) Other deferred tax assets reflect the net tax effects of temporary differences between the carrying amounts of assets for financial reporting purposes (accounting base) and the amounts used for income tax purposes (tax base). For the fiscal year ended December 31, 2018, this item includes: bad debt reserve in Puerto Rico for $4,967, provision for regular expenses for $10,458, mainly corresponding to Brazil, Mexico and Colombia; and foreign currency exchange differences in Argentina and Brazil for $4,736. For the fiscal year ended December 31, 2017 this item includes regular expenses provisions for $9,824, for Brazil, Mexico and Colombia; $698 related to foreign currency exchange differences in Venezuela and $3,782 in Puerto Rico, related to bad debt reserve.

(iii) Primarily related to intangible assets and accelerated depreciation of fixed assets.

(iv) In assessing the realization of deferred income tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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