Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v3.3.1.900
Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

6.        Goodwill and Intangible Assets

 

Changes in the carrying amount of goodwill were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Envestnet

 

Envestnet | Yodlee

 

Total

Balance at December 31, 2013

    

$

74,335

 

$

 —

 

$

74,335

Klein acquisition

 

 

3,031

 

 

 —

 

 

3,031

Placemark acquisition

 

 

27,077

 

 

 —

 

 

27,077

Other

 

 

533

 

 

 —

 

 

533

Balance at December 31, 2014

    

$

104,976

 

$

 —

 

$

104,976

Upside acquisition

 

 

1,507

 

 

 —

 

 

1,507

Finance Logix acquisition

 

 

23,492

 

 

 —

 

 

23,492

Castle Rock acquisition

 

 

4,969

 

 

 —

 

 

4,969

Yodlee acquisition

 

 

 —

 

 

286,049

 

 

286,049

Purchase accounting adjustment - Placemark

 

 

280

 

 

 —

 

 

280

Balance at December 31, 2015

 

$

135,224

 

$

286,049

 

$

421,273

 

Intangible assets consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

December 31, 2014

 

 

    

 

 

 

    

 

Gross

    

    

 

    

Net

    

Gross

    

    

 

    

Net

 

 

 

 

 

 

 

 

Carrying

 

Accumulated

 

Carrying

 

Carrying

 

Accumulated

 

Carrying

 

 

 

Useful Life

    

Amount

 

Amortization

 

Amount

 

Amount

 

Amortization

 

Amount

 

Customer lists

 

4

-

12

years

 

$

257,410

 

$

(33,668)

 

$

223,742

 

$

68,603

 

$

(21,699)

 

$

46,904

 

Backlog

 

 

 

4

years

 

 

11,000

 

 

(703)

 

 

10,297

 

 

 —

 

 

 —

 

 

 —

 

Proprietary technologies

 

2.5

-

8

years

 

 

53,928

 

 

(9,833)

 

 

44,095

 

 

15,678

 

 

(5,808)

 

 

9,870

 

Trade names

 

2

-

6

years

 

 

16,690

 

 

(2,149)

 

 

14,541

 

 

3,090

 

 

(1,210)

 

 

1,880

 

Total intangible assets

 

 

 

 

 

 

$

339,028

 

$

(46,353)

 

$

292,675

 

$

87,371

 

$

(28,717)

 

$

58,654

 

 

Amortization expense was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

    

2015

    

2014

    

2013

 

Amortization expense

 

$

17,636

 

$

10,642

 

$

8,452

 

 

Future amortization expense of the intangible assets as of December 31, 2015, is expected to be as follows:

 

 

 

 

 

Years ending December 31:

    

 

    

2016

 

$

46,894

2017

 

 

42,287

2018

 

 

36,204

2019

 

 

32,519

2020

 

 

28,694

Thereafter

 

 

106,077

 

 

$

292,675