| Property and Equipment, Net |
6. Property and Equipment
Property and equipment consists of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At December 31,
|
|
|
|
|
Estimated Useful Life
|
|
2017
|
|
2016
|
|
|
Cost:
|
|
|
|
|
|
|
|
|
|
|
Computer equipment and software
|
|
3 years
|
|
$
|
56,192
|
|
$
|
52,921
|
|
|
Leasehold improvements
|
|
Shorter of the lease term or useful life of the asset
|
|
|
23,192
|
|
|
17,286
|
|
|
Office furniture and fixtures
|
|
3-7 years
|
|
|
8,110
|
|
|
6,911
|
|
|
Other office equipment
|
|
3-5 years
|
|
|
2,052
|
|
|
1,367
|
|
|
|
|
|
|
|
89,546
|
|
|
78,485
|
|
|
Less: accumulated depreciation and amortization
|
|
|
|
|
(53,637)
|
|
|
(45,485)
|
|
|
Property and equipment, net
|
|
|
|
$
|
35,909
|
|
$
|
33,000
|
|
During 2017 and 2016, the Company retired property and equipment that were no longer in service in the amount of $7,712 and $8,123, respectively. Substantially all assets retired originated in the Envestnet segment. The following table presents the cost amounts and related accumulated depreciation written off by category:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2017
|
|
Year Ended December 31, 2016
|
|
|
|
|
|
|
Accumulated
|
|
|
|
|
Accumulated
|
|
|
|
Cost
|
|
Depreciation
|
|
Cost
|
|
Depreciation
|
|
Computer equipment and software
|
|
$
|
7,528
|
|
$
|
(7,523)
|
|
$
|
6,593
|
|
$
|
(6,498)
|
|
Office furniture and fixtures
|
|
|
184
|
|
|
(113)
|
|
|
225
|
|
|
(206)
|
|
Other office equipment
|
|
|
—
|
|
|
—
|
|
|
1,175
|
|
|
(916)
|
|
Leasehold improvements
|
|
|
—
|
|
|
—
|
|
|
130
|
|
|
(105)
|
|
Total property and equipment retirements
|
|
$
|
7,712
|
|
$
|
(7,636)
|
|
$
|
8,123
|
|
$
|
(7,725)
|
During 2016, the Company recorded an increase in the cost of acquired Yodlee property and equipment related to a purchase accounting fair market value adjustment in the amount of $3,922.
Depreciation and amortization expense was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31,
|
|
|
|
2017
|
|
2016
|
|
2015
|
|
Depreciation and amortization expense
|
|
$
|
15,383
|
|
$
|
14,838
|
|
$
|
7,668
|
|