Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net (Tables)

v3.19.1
Goodwill and Intangible Assets, Net (Tables)
 3 Months Ended
Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in the carrying amount of goodwill by segment
Changes in the carrying amount of goodwill were as follows:
 
 
Envestnet Wealth
 
Envestnet Data & Analytics
 
Total
Balance at December 31, 2018
 
$
243,809

 
$
275,293

 
$
519,102

Private company acquisition
 
—

 
21,448

 
21,448

Foreign currency
 
—

 
71

 
71

Other
 
(97
)
 
—

 
(97
)
Balance at March 31, 2019
 
$
243,712

 
$
296,812

 
$
540,524

Schedule of components of intangible assets, net
Intangible assets, net consist of the following:
 
 
 
 
March 31, 2019
 
December 31, 2018
 
 
 
 
Gross
 
 
 
Net
 
Gross
 
 
 
Net
 
 
Estimated
 
Carrying
 
Accumulated
 
Carrying
 
Carrying
 
Accumulated
 
Carrying
 
 
Useful Life
 
Amount
 
Amortization
 
Amount
 
Amount
 
Amortization
 
Amount
Customer lists
 
7-15 years
 
$
361,020

 
$
(110,250
)
 
$
250,770

 
$
361,020

 
$
(102,077
)
 
$
258,943

Proprietary technologies
 
4-8 years
 
69,396

 
(38,054
)
 
31,342

 
66,746

 
(36,151
)
 
30,595

Trade names
 
2-7 years
 
27,990

 
(13,336
)
 
14,654

 
27,990

 
(12,352
)
 
15,638

Backlog
 
8 years
 
11,000

 
(10,953
)
 
47

 
11,000

 
(10,935
)
 
65

Total intangible assets
 
$
469,406

 
$
(172,593
)
 
$
296,813

 
$
466,756

 
$
(161,515
)
 
$
305,241

Schedule of amortization expense
Amortization expense was as follows:
 
 
Three Months Ended
 
 
March 31,
 
 
2019
 
2018
Amortization expense
 
$
12,528

 
$
13,935

Schedule of future amortization expense of the intangible assets
Future amortization expense of the intangible assets as of March 31, 2019, is expected to be as follows:
Years ending December 31,
 

Remainder of 2019
$
36,831

2020
45,364

2021
36,740

2022
34,291

2023
24,920

Thereafter
118,667

Total
$
296,813