Other assets

3 Months Ended

Mar. 31, 2020

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)	March 31, 2020		December 31, 2019
Net deferred tax assets (net of valuation allowance)	$	929,321	$	886,353
Investments under the equity method		243,578		237,081
Prepaid taxes		24,605		47,226
Other prepaid expenses		88,099		82,425
Derivative assets		9,534		17,966
Trades receivable from brokers and counterparties		6,027		47,049
Principal, interest and escrow servicing advances		83,848		77,800
Guaranteed mortgage loan claims receivable		108,605		108,946
Operating ROU assets (Note 28)		146,665		149,849
Finance ROU assets (Note 28)		13,625		12,888
Others		134,530		152,032
Total other assets	$	1,788,437	$	1,819,615

The Corporation enters in the ordinary course of business into hosting arrangements that are service contracts. These arrangements can include capitalizable implementation costs that are amortized during the term of the hosting arrangement. The Corporation recognizes capitalizable implementation costs related to hosting arrangements that are service contracts within the Other assets line in the accompanying Consolidated Statement of Financial Condition. As of March 31, 2020, the total capitalized implementation costs amounted to $13.7 million with an accumulated amortization of $3.2 million for a net value of $10.5 million. Total amortization expense for all capitalized implementation costs of hosting arrangements that are service contracts for the period ended March 31, 2020 was $0.5 million.