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Other assets | 9 Months Ended
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Sep. 30, 2023
Other Assets Abstract |
Other assets | Note 13 − Other assets The caption of other assets in the consolidated statements of financial condition consists of the following major categories: (In thousands) September 30, 2023 December 31, 2022 Net deferred tax assets (net of valuation allowance) $ 896,426 $ 953,676 Investments under the equity method 234,408 210,001 Prepaid taxes 47,837 39,405 Other prepaid expenses 42,977 33,384 Capitalized software costs 79,393 81,862 Derivative assets 23,348 19,229 Trades receivable from brokers and counterparties 37,674 35,099 Receivables from investments maturities 301,000 125,000 Principal, interest and escrow servicing advances 50,881 41,916 Guaranteed mortgage loan claims receivable 44,836 59,659 Operating ROU assets (Note 28) 117,879 125,573 Finance ROU assets (Note 28) 17,917 18,884 Others 137,989 104,125 Total other assets $ 2,032,565 $ 1,847,813 The Corporation regularly incurs in capitalizable costs associated with software development or licensing which are recorded within the Other Assets line item in the accompanying Consolidated Statements of Financial Condition. In addition, the Corporation incurs costs associated with hosting arrangements that are service contracts that are also recorded within Other Assets. The hosting arrangements can include capitalizable implementation costs that are amortized during the term of the hosting arrangement. The following table summarizes the composition of acquired or developed software costs as well as costs related to hosting arrangements: Gross Carrying Accumulated Net Carrying (In thousands) Amount Amortization Value September 30, 2023 Software development costs $ 69,318 $ 24,920 $ 44,398 Software license costs 47,747 25,006 22,741 Cloud computing arrangements 22,771 10,517 12,254 Total Capitalized software costs [1] [2] $ 139,836 $ 60,443 $ 79,393 December 31, 2022 Software development costs $ 63,609 $ 16,803 $ 46,806 Software license costs 37,165 14,164 23,001 Cloud computing arrangements 20,745 8,690 12,055 Total Capitalized software costs [1] [2] $ 121,519 $ 39,657 $ 81,862 [1] Software intangible assets are presented as part of Other Assets in the Consolidated Statements of Financial Condition. [2] The tables above excludes assets which have been fully amortized. Total amortization expense for all capitalized software and hosting arrangement cost, reflected as part of technology and software expenses in the consolidated statement of operations, is as follows: Quarters ended September 30, Nine months ended September 30, (In thousands) 2023 2022 2023 2022 Software development and license costs $ 16,820 $ 14,589 $ 47,962 $ 39,357 Cloud computing arrangements 923 983 2,685 3,010 Total amortization expense $ 17,743 $ 15,572 $ 50,647 $ 42,367

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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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