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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of statutory tax rates by country | Statutory tax rates in the countries in which the Company operates for fiscal years 2023, 2022 and 2021 were as follows:
|  | 2023 |  | 2022 |  | 2021
Puerto Rico |  | 18.5% |  | 18.5% |  | 18.5%
Curaçao |  | 22.0% |  | 22.0% |  | 22.0%
USVI |  | 21.0% |  | 21.0% |  | 22.5%
Ecuador, Panama, and Uruguay |  | 25.0% |  | 25.0% |  | 25.0%
Aruba |  | 22.0% |  | 25.0% |  | 25.0%
Chile |  | 27.0% |  | 27.0% |  | 27.0%
Martinique, French Guiana and Guadeloupe |  | 25.0% |  | 25.0% |  | 22.5%
Peru |  | 29.5% |  | 29.5% |  | 29.5%
Costa Rica, Mexico and Trinidad and Tobago |  | 30.0% |  | 30.0% |  | 30.0%
Colombia |  | 35.0% |  | 35.0% |  | 31.0%
Brazil and Venezuela |  | 34.0% |  | 34.0% |  | 34.0%
Argentina |  | 35.0% |  | 35.0% |  | 35.0%
Netherlands |  | 25.8% |  | 25.8% |  | 25.0%
Schedule of components of income tax expense | Income tax expense, net for fiscal years 2023, 2022 and 2021 consisted of the following:
|  | 2023 |  | 2022 |  | 2021
Current income tax expense |  | $ | 100,012 |  |  | $ | 100,925 |  |  | $ | 47,999 |
Deferred income tax income |  | (4,310) |  |  | (15,449) |  |  | (16,066) |
Income tax expense, net |  | $ | 95,702 |  |  | $ | 85,476 |  |  | $ | 31,933 |
Schedule of components of income tax expense by applying weighted-average statutory income tax rate | Income tax expense, net for fiscal years 2023, 2022 and 2021, 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:
|  | 2023 |  | 2022 |  | 2021
Pre-tax income |  | $ | 278,117 |  |  | $ | 226,396 |  |  | $ | 77,786 |
Weighted-average statutory income tax rate (i) |  | 36.1 | % |  | 39.0 | % |  | 41.4 | %
Income tax expense at weighted-average statutory tax rate on pre-tax income |  | 100,411 |  |  | 88,314 |  |  | 32,230 |
Permanent differences: |  |  |  |  |  |
Change in valuation allowance (ii) |  | (254) |  |  | 381 |  |  | (26,865) |
Expiration and changes in tax loss carryforwards |  | 3,784 |  |  | 132 |  |  | 144 |
Venezuela and Argentina remeasurement and inflationary impacts (iii) |  | (16,234) |  |  | (10,009) |  |  | 577 |
Non-deductible expenses |  | 15,548 |  |  | 24,845 |  |  | 21,488 |
Tax benefits and Non-taxable income |  | (12,826) |  |  | (9,740) |  |  | (10,463) |
Income taxes withholdings on intercompany transactions (iv) |  | 9,704 |  |  | 6,374 |  |  | 6,572 |
Differences including exchange rate, inflation adjustment and filing differences |  | (5,586) |  |  | (14,485) |  |  | 1,493 |
Alternative Taxes |  | 2,109 |  |  | 359 |  |  | 1,461 |
Others (v) |  | (954) |  |  | (695) |  |  | 5,296 |
Income tax expense, net |  | $ | 95,702 |  |  | $ | 85,476 |  |  | $ | 31,933 |
(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 (“NOLs”). (iii)Comprises changes in valuation allowance during 2023, 2022 and 2021 for $22,825, $57,329 and $(9,723), 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, 2023 and 2022 are presented below:
|  | 2023 |  | 2022
Tax loss carryforwards (i) |  | $ | 153,823 |  |  | $ | 149,081 |
Purchase price allocation adjustment |  | 12,288 |  |  | 11,298 |
Property and equipment, tax inflation adjustment |  | 53,238 |  |  | 44,785 |
Tax Inflation adjustment |  | (381) |  |  | (2,689) |
Other accrued payroll and other liabilities |  | 41,787 |  |  | 36,055 |
Share-based compensation |  | 3,669 |  |  | 2,340 |
Provision for contingencies, bad debts and obsolescence |  | 23,126 |  |  | 17,949 |
Other deferred tax assets (ii) |  | 27,508 |  |  | 29,157 |
Other deferred tax liabilities |  | (5,403) |  |  | (5,642) |
Leases (iii) |  | 29,216 |  |  | 20,567 |
Property and equipment - difference in depreciation rates |  | (23,200) |  |  | (17,446) |
Valuation allowance (iv) |  | (218,674) |  |  | (201,414) |
Net deferred tax asset |  | $ | 96,997 |  |  | $ | 84,041 |
(i)As of December 31, 2023, the Company and its subsidiaries have accumulated NOLs amounting to $524,023. The Company has NOLs amounting to $192,833, expiring between 2024 and 2028, $122,422, expiring after 2028 and, $208,768 that do not expire. Changes in tax loss carryforwards for the year relate to generation of NOLs. (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). As of December 31, 2023 and 2022, this item includes: provision for regular expenses for $13,070 and $8,856, respectively, in Brazil, Colombia, Mexico, Panama and Venezuela. (iii)As of December 31, 2023 and 2022, this item includes difference in depreciation of net leases (related to differences between ASC842 and local tax regulation) in Brazil; assets of $240,299 and $210,181 and liabilities of $211,083 and $189,614, respectively. (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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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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