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Other assets | 12 Months Ended
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Dec. 31, 2024
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) December 31, 2024 December 31, 2023 Net deferred tax assets (net of valuation allowance) $ 926,329 $ 1,009,068 Investments under the equity method 251,537 236,485 Prepaid taxes 42,909 39,052 Other prepaid expenses 28,376 29,338 Capitalized software costs 136,442 93,404 Derivative assets 25,975 24,419 Trades receivable from brokers and counterparties 588 23,102 Receivables from investments maturities 14,600 176,000 Principal, interest and escrow servicing advances 43,793 48,557 Guaranteed mortgage loan claims receivable 17,226 29,648 Operating ROU assets (Note 32) 93,389 116,106 Finance ROU assets (Note 32) 19,174 21,093 Assets for pension benefit 33,233 23,404 Others 164,188 144,888 Total other assets $ 1,797,759 $ 2,014,564 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 December 31, 2024 Software development costs $ 79,233 $ 23,057 $ 56,176 Software license costs 42,234 21,459 20,775 Cloud computing arrangements 65,797 6,306 59,491 Total Capitalized software costs [1] [2] $ 187,264 $ 50,822 $ 136,442 December 31, 2023 Software development costs $ 76,497 $ 22,086 $ 54,411 Software license costs 42,868 18,048 24,820 Cloud computing arrangements 23,623 9,450 14,173 Total Capitalized software costs [1] [2] $ 142,988 $ 49,584 $ 93,404 [1] Software intangible assets are presented as part of Other Assets in the Consolidated Statements of Financial Condition. [2] The tables above excludes assets that 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: Year ended December 31, (In thousands) 2024 2023 2022 Software development and license costs $ 77,731 $ 66,233 $ 55,011 Cloud computing arrangements 4,398 3,324 3,805 Total amortization expense $ 82,129 $ 69,557 $ 58,816

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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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