Other assets (Tables)

9 Months Ended

Sep. 30, 2023

Other Assets Abstract

Other Assets by Major Categories

(In thousands)

September 30, 2023

December 31, 2022

Net deferred tax assets (net of valuation allowance)

$

896,426

$

953,676

Investments under the equity method

234,408

210,001

Prepaid taxes

47,837

39,405

Other prepaid expenses

42,977

33,384

Capitalized software costs

79,393

81,862

Derivative assets

23,348

19,229

Trades receivable from brokers and counterparties

37,674

35,099

Receivables from investments maturities

301,000

125,000

Principal, interest and escrow servicing advances

50,881

41,916

Guaranteed mortgage loan claims receivable

44,836

59,659

Operating ROU assets (Note 28)

117,879

125,573

Finance ROU assets (Note 28)

17,917

18,884

Others

137,989

104,125

Total other assets

$

2,032,565

$

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

September 30, 2023

Software development costs

$

69,318

$

24,920

$

44,398

Software license costs

47,747

25,006

22,741

Cloud computing arrangements

22,771

10,517

12,254

Total Capitalized software costs [1] [2]

$

139,836

$

60,443

$

79,393

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 are 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 September 30,

Nine months ended September 30,

(In thousands)

2023

2022

2023

2022

Software development and license costs

$

16,820

$

14,589

$

47,962

$

39,357

Cloud computing arrangements

923

983

2,685

3,010

Total amortization expense

$

17,743

$

15,572

$

50,647

$

42,367