Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.20.2
Property and Equipment, Net
 9 Months Ended
Sep. 30, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
 
Property and equipment, net consists of the following:
    September 30, December 31,
  Estimated Useful Life 2020 2019
Cost:      
Computer equipment and software 3 years $ 72,572  $ 72,190 
Leasehold improvements Shorter of the lease term or useful life of the asset 37,840  34,645 
Office furniture and fixtures
3-7 years
 11,036  10,832 
Office equipment and other
3-5 years
 7,016  6,850 
Building and building improvements
7-39 years
 2,669  2,647 
Land Not applicable 940  940 
    132,073  128,104 
Less: accumulated depreciation and amortization (83,090) (74,348)
Total property and equipment, net $ 48,983  $ 53,756 
 
During the three and nine months ended September 30, 2020, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $964 and $5,459, respectively. During the three and nine months ended September 30, 2020, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment with an historical cost of $1,413 and $2,097, 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 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, 2020 and 2019 were not material.
 
Depreciation and amortization expense was as follows:
  Three Months Ended Nine Months Ended
  September 30, September 30,
  2020 2019 2020 2019
Depreciation and amortization expense $ 5,341  $ 4,693  $ 16,021  $ 15,810