Other assets

6 Months Ended

Jun. 30, 2022

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)	June 30, 2022		December 31, 2021
Net deferred tax assets (net of valuation allowance)	$	817,867	$	657,597
Investments under the equity method		318,836		298,988
Prepaid taxes		52,721		37,924
Other prepaid expenses		85,964		79,845
Derivative assets		17,218		26,093
Trades receivable from brokers and counterparties		45,118		65,460
Principal, interest and escrow servicing advances		45,889		53,942
Guaranteed mortgage loan claims receivable		84,990		98,001
Operating ROU assets (Note 27)		126,080		141,748
Finance ROU assets (Note 27)		19,349		13,459
Others		159,491		155,514
Total other assets	$	1,773,523	$	1,628,571

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 June 30, 2022, the total capitalized implementation costs amounted to $22.1 million with an accumulated amortization of $10.8 million for a net value of $11.3 million, compared to total capitalized implementation costs amounting to $18.4 million with an accumulated amortization of $8.8 million for a net value of $9.6 million as of December 31, 2021. Total amortization expense for all capitalized implementation costs of hosting arrangements that are service contracts for the quarter and six months ended June 30, 2022 was $1.1 million and $2.0 million, respectively (June 30, 2021 - $1.1 million and $1.9 million, respectively).