| Property and Equipment |
Property and Equipment
Property and equipment consisted of the following:
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December 31, |
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Estimated Useful Life |
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2019 |
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2018 |
Cost: |
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Computer equipment and software |
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3 years |
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$ |
72,190 |
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$ |
64,346 |
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Leasehold improvements |
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Shorter of the lease term or useful life of the asset |
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34,645 |
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28,191 |
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Office furniture and fixtures |
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3-7 years |
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10,832 |
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9,291 |
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Office equipment and other |
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3-5 years |
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6,850 |
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5,577 |
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Building and building improvements |
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7-39 years |
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2,647 |
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— |
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Land |
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Not applicable |
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940 |
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— |
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128,104 |
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107,405 |
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Less: accumulated depreciation and amortization |
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(74,348 |
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(62,414 |
) |
Total property and equipment, net |
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$ |
53,756 |
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$ |
44,991 |
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During 2019 and 2018, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $8,264 and $5,984, respectively. During 2019 and 2018, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment with an historical cost of $4,621 and $5,387, respectively. Gains and losses on asset retirements during 2019 and 2018 were not material.
The following table presents the cost amounts and related accumulated depreciation written off by category:
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Year Ended December 31, 2019 |
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Year Ended December 31, 2018 |
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Accumulated |
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Accumulated |
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Cost |
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Depreciation |
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Cost |
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Depreciation |
Computer equipment and software |
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$ |
12,597 |
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$ |
(12,542 |
) |
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$ |
10,733 |
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$ |
(10,709 |
) |
Leasehold improvements |
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229 |
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(135 |
) |
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297 |
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(269 |
) |
Office furniture and fixtures |
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42 |
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(21 |
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32 |
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(32 |
) |
Office equipment and other |
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17 |
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(17 |
) |
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309 |
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(288 |
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Total property and equipment retirements |
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$ |
12,885 |
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$ |
(12,715 |
) |
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$ |
11,371 |
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$ |
(11,298 |
) |
Depreciation and amortization expense was as follows:
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Year Ended December 31, |
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2019 |
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2018 |
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2017 |
Depreciation and amortization expense |
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$ |
20,777 |
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$ |
15,737 |
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$ |
15,383 |
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