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Income taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of statutory tax rates

Statutory tax rates in the countries in which the Company operates for fiscal years 2022, 2021 and 2020 were as follows: 

						2022						2021						2020
Puerto Rico						18.5%						18.5%						18.5%
Curaçao						22.0%						22.0%						22.0%
USVI						21.0%						22.5%						22.5%
Aruba, Ecuador, Panama, and Uruguay						25.0%						25.0%						25.0%
Chile						27.0%						27.0%						27.0%
Martinique, French Guyana and Guadeloupe						25.0%						22.5%						28.0%
Peru						29.5%						29.5%						29.5%
Costa Rica, Mexico and Trinidad and Tobago						30.0%						30.0%						30.0%
Colombia						35.0%						31.0%						32.0%
Brazil and Venezuela						34.0%						34.0%						34.0%
Argentina						35.0%						35.0%						30.0%
Netherlands						25.8%						25.0%						25.0%

Schedule of components of income tax expense

Income tax expense for fiscal years 2022, 2021 and 2020 consisted of the following:

						2022						2021						2020
Current income tax expense						$	100,925					$	47,999					$	17,061
Deferred income tax (income) expense						(15,449)						(16,066)						471
Income tax expense						$	85,476					$	31,933					$	17,532

Schedule of components of income tax expense by applying weighted-average statutory income tax rate

Income tax expense for fiscal years 2022, 2021 and 2020, differed from the amounts computed by applying the Company’s weighted-average statutory income tax rate to pre-tax income (loss) as a result of the following:

						2022						2021						2020
Pre-tax income (loss)						$	226,396					$	77,786					$	(131,854)
Weighted-average statutory income tax rate (i)						39.0		%				41.4		%				22.9		%
Income tax expense (benefit) at weighted-average statutory tax rate on pre-tax income (loss)						88,314						32,230						(30,226)
Permanent differences:
Change in valuation allowance (ii)						381						(26,865)						2,958
Expiration and changes in tax loss carryforwards						132						144						13,820
Venezuela and Argentina remeasurement and inflationary impacts (iii)						(10,009)						577						1,682
Non-deductible expenses						24,845						21,488						20,349
Tax benefits and Non-taxable income						(9,740)						(10,463)						(5,830)
Income taxes withholdings on intercompany transactions (iv)						6,374						6,572						6,515
Differences including exchange rate, inflation adjustment and filing differences						(14,485)						1,493						2,532
Alternative Taxes						359						1,461						2,054
Others (v)						(695)						5,296						3,678
Income tax expense						$	85,476					$	31,933					$	17,532

(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 net operating losses.

(iii)Comprises changes in valuation allowance during 2022, 2021 and 2020 for $57,329, $(9,723) and $43,249, respectively in Venezuela.

(iv)Comprises income tax withheld on the payment of interest on intercompany loans.

(v)Mainly comprises income tax effects over intercompany transactions which are eliminated for consolidation purposes.

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 as of December 31, 2022 and 2021 are presented below: 

						2022						2021
Tax loss carryforwards (i)						$	149,081					$	140,106
Purchase price allocation adjustment						11,298						11,305
Property and equipment, tax inflation						44,785						39,691
Tax Inflation adjustment						(2,689)						(6,671)
Other accrued payroll and other liabilities						49,080						25,340
Share-based compensation						2,340						1,623
Provision for contingencies, bad debts and obsolescence						4,919						9,557
Other deferred tax assets (ii)						29,162						28,448
Other deferred tax liabilities						(5,642)						(5,057)
Leases (iii)						20,567						13,330
Property and equipment - difference in depreciation rates						(17,446)						(10,801)
Valuation allowance (iv)						(201,414)						(186,239)
Net deferred tax asset						$	84,041					$	60,632

(i)As of December 31, 2022, the Company and its subsidiaries have accumulated net operating losses amounting to $518,512. The Company has net operating losses amounting to $150,985, expiring between 2023 and 2027. In addition, the Company has net operating losses amounting to $119,667, expiring after 2027 and net operating losses amounting to $247,860 that do not expire. Changes in tax loss carryforwards for the year relate to generation of NOL.

(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, 2022, this item includes: provision for regular expenses for $8,856 in Brazil, Colombia, Mexico, Panama and Venezuela. For the fiscal year ended December 31, 2021, this item includes: provision for regular expenses for $13,055 in Brazil, Colombia, Mexico and Panama.

(iii)For the fiscal year ended December 31, 2022, this item includes difference in depreciation of net leases (related to differences between ASC842 and local tax regulation) in Brazil; assets of $210,181 and liabilities of $189,614. For the fiscal year ended December 31, 2021, this item includes difference in depreciation of net leases (related to differences between ASC842 and local tax regulation) in Brazil; assets of $63,526 and liabilities of $50,196.

(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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Schedule Of Components Of Income Tax Expense By Applying Weighted-Average Statutory Income Tax Rate [Table Text Block]

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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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