Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.19.1
Property and Equipment
 3 Months Ended
Mar. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment
 
Property and equipment consists of the following:
 
 
 
 
March 31,
 
December 31,
 
 
Estimated Useful Life
 
2019
 
2018
Cost:
 
 
 
 

 
 

Computer equipment and software
 
3 years
 
$
65,905

 
$
64,346

Leasehold improvements
 
Shorter of the lease term or useful life of the asset
 
28,817

 
28,191

Office furniture and fixtures
 
3-7 years
 
9,455

 
9,291

Other office equipment
 
3-5 years
 
5,791

 
5,577

 
 
 
 
109,968

 
107,405

Less: accumulated depreciation and amortization
 
(63,174
)
 
(62,414
)
Total property and equipment, net
 
$
46,794

 
$
44,991


 
During the three months ended March 31, 2019, the Company retired property and equipment that was no longer in service for the Envestnet Wealth segment in the amount of $1,246. During the three months ended March 31, 2019, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment in the amount of $2,481. Gains and losses on asset retirements during the three months ended March 31, 2019 were not material.
 
Depreciation and amortization expense was as follows:
 
 
Three Months Ended
 
 
March 31,
 
 
2019
 
2018
Depreciation and amortization expense
 
$
4,366

 
$
3,918