Other assets (Tables)

12 Months Ended

Dec. 31, 2022

Other Assets Abstract

Other Assets by Major Categories

(In thousands)

December 31, 2022

December 31, 2021

Net deferred tax assets (net of valuation allowance)

$

953,676

$

657,597

Investments under the equity method

210,001

298,988

Prepaid taxes

39,405

37,924

Other prepaid expenses

33,384

34,937

Capitalized software costs

81,862

44,908

Derivative assets

19,229

26,093

Trades receivable from brokers and counterparties

35,099

65,460

Receivables from investments maturities

125,000

-

Principal, interest and escrow servicing advances

41,916

53,942

Guaranteed mortgage loan claims receivable

59,659

98,001

Operating ROU assets (Note 33)

125,573

141,748

Finance ROU assets (Note 33)

18,884

13,459

Others

104,125

155,514

Total other assets

$

1,847,813

$

1,628,571

Composition of acquired or developed software costs

The

following table summarizes the composition of acquired or developed software costs as well as costs related to hosting

arrangements:

Gross Carrying

Accumulated

Net

Carrying

(In thousands)

Amount

Amortization

Value

December 31, 2022

Software development costs [1]

$

63,609

$

16,803

$

46,806

Software license costs

37,165

14,164

23,001

Cloud computing arrangements

20,745

8,690

12,055

Total Capitalized software costs [2]

$

121,519

$

39,657

$

81,862

December 31, 2021

Software development costs

$

40,033

$

18,972

$

21,061

Software license costs

168,862

154,571

14,291

Cloud computing arrangements

18,346

8,790

9,556

Total Capitalized software costs

$

227,241

$

182,333

$

44,908

[1]

Software development costs includes $

28.7

 million acquired as part of the Evertec Transactions.

[2]

At December 31, 2022 the table above excludes assets which have been fully amortized.

Amortization expense for all capitalized software and hosting arrangement cost

Total amortization expense for all capitalized software and hosting arrangement cost, reflected as part of technology and software

expenses in the consolidated statement of operations, is as follows:

Year ended December 31,

(In thousands)

2022

2021

2020

Software development and license costs

$

55,011

$

45,577

$

43,259

Cloud computing arrangements

3,805

3,867

2,206

Total amortization expense

$

58,816

$

49,444

$

45,465