Envestnet, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Property and equipment consists of the following:



		September 30,			December 31,
	Estimated Useful Life	2019			2018
Cost:
Computer equipment and software	3 years	$	71,812		$	64,346
Leasehold improvements	Shorter of the lease term or useful life of the asset	33,553			28,191
Office furniture and fixtures	3-7 years	11,126			9,291
Office equipment and other	3-5 years	6,499			5,577
Building and building improvements	7-39 years	2,647			—
Land	Not applicable	940			—
		126,577			107,405
Less: accumulated depreciation and amortization		(73,012		)	(62,414		)
Total property and equipment, net		$	53,565		$	44,991

During the three and nine months ended September 30, 2019, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $1,355 and $4,997, respectively. During the three and nine months ended September 30, 2019, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment with an historical cost of $174 and $4,295, respectively. Gains and losses on asset retirements during the three and nine months ended September 30, 2019 were not material.

During the three and nine months ended September 30, 2018, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $872, and $4,209, respectively. During the three and nine months ended September 30, 2018, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment with an historical cost of $739 and $4,140, respectively. Gains and losses on asset retirements during the three and nine months ended September 30, 2018 were not material.

Depreciation and amortization expense was as follows:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Depreciation and amortization expense	$	4,693	$	3,917	$	15,810	$	11,755