Other assets

3 Months Ended

Mar. 31, 2021

Other Assets Abstract

Other assets

Note 12 − Other assets

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

(In thousands)	March 31, 2021		December 31, 2020
Net deferred tax assets (net of valuation allowance)	$	804,148	$	851,592
Investments under the equity method		262,335		250,467
Prepaid taxes		26,464		32,615
Other prepaid expenses		78,864		74,572
Derivative assets		20,971		20,785
Trades receivable from brokers and counterparties		72,567		65,429
Principal, interest and escrow servicing advances		66,158		65,671
Guaranteed mortgage loan claims receivable		72,649		80,477
Operating ROU assets (Note 27)		127,622		131,921
Finance ROU assets (Note 27)		14,884		15,464
Others		166,421		148,048
Total other assets	$	1,713,083	$	1,737,041

The Corporation enters in the ordinary course of business into technology 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 Others in the table above. As of March 31, 2021, the total capitalized implementation costs amounted to $17.9 million with an accumulated amortization of $5.7 million for a net value of $12.2 million, compared to total capitalized implementation costs amounting to $17.4 million with an accumulated amortization of $4.9 million for a net value of $12.5 million as of December 31, 2020. Total amortization expense for all capitalized implementation costs of hosting arrangements that are service contracts for the quarter ended March 31, 2021 was $0.8 million (March 31, 2020 - $0.5 million).