Other assets (Tables)

3 Months Ended

Mar. 31, 2023

Other Assets Abstract

Other Assets by Major Categories

(In thousands)

March 31, 2023

December 31, 2022

Net deferred tax assets (net of valuation allowance)

$

907,689

$

953,676

Investments under the equity method

210,923

210,001

Prepaid taxes

34,585

39,405

Other prepaid expenses

32,131

33,384

Capitalized software costs

80,097

81,862

Derivative assets

19,365

19,229

Trades receivable from brokers and counterparties

10,638

35,099

Receivables from investments maturities

25,000

125,000

Principal, interest and escrow servicing advances

56,952

41,916

Guaranteed mortgage loan claims receivable

59,738

59,659

Operating ROU assets (Note 28)

119,895

125,573

Finance ROU assets (Note 28)

19,856

18,884

Others

126,416

104,125

Total other assets

$

1,703,285

$

1,847,813

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

March 31, 2023

Software development costs

$

65,817

$

19,930

$

45,887

Software license costs

41,298

18,658

22,640

Cloud computing arrangements

21,244

9,674

11,570

Total Capitalized software costs [1] [2]

$

128,359

$

48,262

$

80,097

December 31, 2022

Software development costs

$

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 [1] [2]

$

121,519

$

39,657

$

81,862

[1]

Software intangible assets is presented as part of Other Assets in the Consolidated Statements of Financial Condition.

[2]

The tables 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:

Quarters ended March 31,

(In thousands)

2023

2022

Software development and license costs

$

14,991

$

11,755

Cloud computing arrangements

984

958

Total amortization expense

$

15,975

$

12,713