v3.25.1
Other assets
 3 Months Ended
Mar. 31, 2025
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)
March 31, 2025
December 31, 2024
Net deferred tax assets (net of valuation allowance)
$
887,454
$
926,329
Investments under the equity method
250,489
251,537
Prepaid taxes
34,808
42,909
Other prepaid expenses
24,537
28,376
Capitalized software costs
159,071
136,442
Derivative assets
20,828
25,975
Trades receivable from brokers and counterparties
1,530
588
Receivables from investments maturities
-
14,600
Principal, interest and escrow servicing advances
40,227
43,793
Guaranteed mortgage loan claims receivable
15,709
17,226
Operating ROU assets (Note 27)
93,922
93,389
Finance ROU assets (Note 27)
18,432
19,174
Assets for pension benefit
33,868
33,233
Others
161,665
164,188
Total other assets
$
1,742,540
$
1,797,759
The Corporation regularly
 
incurs in capitalizable
 
costs associated with
 
software development or
 
licensing which are
 
recorded within
the Other Assets line item
 
in the accompanying Consolidated
 
Statements of Financial Condition.
 
In addition, the Corporation incurs
costs
 
associated
 
with
 
hosting
 
arrangements
 
that
 
are
 
service
 
contracts
 
that
 
are
 
also
 
recorded
 
within
 
Other
 
Assets.
 
The
 
hosting
arrangements can
 
include capitalizable
 
implementation costs
 
that are
 
amortized during
 
the term
 
of the
 
hosting arrangement.
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, 2025
Software development costs
$
81,408
$
26,453
$
54,955
Software license costs
55,536
26,480
29,056
Cloud computing arrangements
82,714
7,654
75,060
Total Capitalized software costs [1] [2]
$
219,658
$
60,587
$
159,071
December 31, 2024
Software development costs
$
79,233
$
23,057
$
56,176
Software license costs
42,234
21,459
20,775
Cloud computing arrangements
65,797
6,306
59,491
Total Capitalized software costs [1] [2]
$
187,264
$
50,822
$
136,442
[1]
Software intangible assets are presented as part of Other Assets in the Consolidated Statements
 
of Financial Condition.
[2]
The tables above excludes assets that have been fully amortized.
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)
2025
2024
Software development and license costs
$
21,728
$
17,701
Cloud computing arrangements
1,366
872
Total amortization expense
$
23,094
$
18,573