Envestnet, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2014

Property and Equipment

Property and Equipment

4. Property and Equipment

Property and equipment consists of the following:

		December 31,
	Estimated Useful Life	2014			2013
Cost:
Office furniture and fixtures	5 - 7 years	$	4,993		$	4,266
Computer equipment and software	3 years		18,540			26,910
Other office equipment	5 years		144			598
Leasehold improvements	Shorter of the lease term or useful life of the asset		10,805			8,299

			34,482			40,073
Less accumulated depreciation and amortization			(17,853	)		(27,307	)

Property and equipment, net		$	16,629		$	12,766

During the fourth quarter of 2014, the Company retired fully depreciated property and equipment that were no longer in service in the amount of $18,207. See below for the cost amounts and related accumulated depreciation written off by category:

	Cost		Accumulated Depreciation
Office furniture and fixtures	$	721	$	(721	)
Computer equipment and software		15,455		(15,455	)
Other office equipment		596		(596	)
Leasehold improvements		1,435		(1,435	)

Total property and equipment retirements	$	18,207	$	(18,207	)

Depreciation and amortization expense was as follows:

	Year ended December 31,
	2014		2013		2012
Depreciation and amortization expense	$	5,910	$	5,151	$	4,685

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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