Other assets

9 Months Ended

Sep. 30, 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)	September 30, 2021		December 31, 2020
Net deferred tax assets (net of valuation allowance)	$	677,053	$	851,592
Investments under the equity method		288,259		250,467
Prepaid taxes		45,519		32,615
Other prepaid expenses		85,255		74,572
Derivative assets		23,827		20,785
Trades receivable from brokers and counterparties		75,589		65,429
Principal, interest and escrow servicing advances		59,109		65,671
Guaranteed mortgage loan claims receivable		96,212		80,477
Operating ROU assets (Note 27)		139,632		131,921
Finance ROU assets (Note 27)		13,933		15,464
Others		130,451		148,048
Total other assets	$	1,634,839	$	1,737,041

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 item in the accompanying Consolidated Statements of Financial Condition. As of September 30, 2021, the total capitalized implementation costs amounted to $18.2 million with an accumulated amortization of $7.7 million for a net value of $10.5 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 and nine months ended September 30, 2021 was $0.9 million and $2.8 million, respectively (September 30, 2020 - $0.5 million and $1.5 million respectively).