Other assets

12 Months Ended

Dec. 31, 2015

Other Assets Abstract

Other assets

Note 19−Other assets

The caption of other assets in the consolidated statements of financial condition consists of the following major categories:

(In thousands)		2015		2014
Net deferred tax assets (net of valuation allowance)	$	1,302,452	$	812,819
Investments under the equity method		212,838		225,625
Prepaid taxes		180,969		198,120
Other prepaid expenses		87,016		84,079
Derivative assets		16,959		25,362
Trades receivables from brokers and counterparties		78,759		66,949
Others		321,970		233,489
Total other assets	$	2,200,963	$	1,646,443

Prepaid taxes at December 31,2015 and December 31, 2014 includes a payment of $45 million in income taxes in connection with the Closing Agreement signed with the Puerto Rico Department of Treasury on June 30, 2014.

As discussed in Note 42, the corporation recorded during the year ended December 31, 2015 a partial reversal of the valuation allowance on its deferred tax assets from its U.S. operations for approximately $589 million.