The caption of other assets in the consolidated statements of financial condition consists of the following major categories:

(In thousands)	September 30, 2014		December 31, 2013
Net deferred tax assets (net of valuation allowance)	$	758,347	$	761,768
Investments under the equity method		221,130		197,006
Bank-owned life insurance program		-		228,805
Prepaid FDIC insurance assessment		-		383
Prepaid taxes		207,999		91,504
Other prepaid expenses		97,122		67,108
Derivative assets		25,850		34,710
Trades receivable from brokers and counterparties		77,618		71,680
Others		246,753		234,594
Total other assets	$	1,634,819	$	1,687,558
Other assets from discontinued operations are presented as part of " Assets from Discontinued Operations" in the Consolidated Statement of Condition. Refer to Note 3 to the consolidated financial statements for further information on the discontinued operations.

On February 1, 2014, Centro Financiero BHD (“BHD”), the Corporation's equity method investee based in the Dominican Republic, completed a merger transaction in which it acquired the net assets of Centro Financiero León. Centro Financiero León was the holding company of Banco León, the fourth largest bank in terms of assets in the Dominican Republic. In connection with the transaction, BHD issued additional shares which diluted the Corporation's equity participation from 19.99% to 15.79%. As a result of this transaction, the Corporation recognized a net gain of $14.2 million during the first quarter of 2014, due to BHD's increase in net assets. The gain was partially offset by approximately $7.7 million resulting from the reclassification from other comprehensive income into earnings of the cumulative foreign currency translation adjustment due to the reduction in the Corporation's ownership percentage. As of September 30, 2014, the Corporation had a 15.82% equity participation and continues to have significant influence over BHD. Accordingly, the investment in BHD is accounted for under the equity method and is evaluated for impairment if events or circumstances indicate that a decrease in value of the investment has occurred that is other than temporary.

During the quarter ended on September 30, 2014 BPNA surrendered its bank owned life insurance contracts, which had a balance of $231.2 million. BPNA received approximately $231.4 million in satisfaction of its surrender request. The transaction resulted in a gain of $0.1 million.

Prepaid taxes increased mostly due to payments of $45 million in income taxes in connection with the Closing Agreement signed with the Puerto Rico Department of Treasury on June 30, 2014, and $ 31.8 million of corporate personal property tax and municipal tax paid during the second quarter of 2014, to be amortized over the next twelve months.