Other assets

6 Months Ended

Jun. 30, 2026

- Other assets

The caption of other assets in the Consolidated Statements of Financial Condition consists of the following major categories:


(In thousands)	June 30, 2026	December 31, 2025
Net deferred tax assets (net of valuation allowance)	$794,693	$814,265
Investments under the equity method	295,281	261,687
Prepaid taxes	62,549	42,762
Other prepaid expenses	32,527	25,542
Capitalized software costs	189,159	183,381
Derivative assets	28,516	27,913
Trades receivable from brokers and counterparties	7,628	245
Principal, interest and escrow servicing advances	23,818	30,252
Guaranteed mortgage loan claims receivable	4,430	9,184
Operating ROU assets	99,825	95,234
Finance ROU assets	23,567	23,686
Assets for pension benefit	40,836	38,157
Others	159,392	153,669
Total other assets	$1,762,221	$1,705,977

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
June 30, 2026
Software development costs	$107,959	$41,510	$66,449
Software license costs	60,936	30,515	30,421
Cloud computing arrangements	113,857	21,568	92,289
Total Capitalized software costs [1] [2]	$282,752	$93,593	$189,159
December 31, 2025
Software development costs	$103,628	$34,170	$69,458
Software license costs	46,538	24,475	22,063
Cloud computing arrangements	106,410	14,550	91,860
Total Capitalized software costs [1] [2]	$256,576	$73,195	$183,381

[1]Software intangible assets are presented as part of Other Assets in the Consolidated Statements of Financial Condition.

[2]The tables above exclude 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 statements of operations, is as follows:


	Quarters ended June 30,		Six months ended June 30,
(In thousands)	2026	2025	2026	2025
Software development and license costs	$25,759	$22,254	$49,715	$43,982
Cloud computing arrangements	3,956	1,462	7,557	2,828
Total amortization expense	$29,715	$23,716	$57,272	$46,810