| Goodwill and Intangible Assets, Net |
Goodwill and Intangible Assets, Net
Changes in the carrying amount of goodwill were as follows:
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Envestnet
Wealth Solutions |
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Envestnet
Data & Analytics |
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Total |
| Balance at December 31, 2019 |
|
$ |
583,247 |
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|
$ |
296,603 |
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|
$ |
879,850 |
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| Acquisitions |
|
20,173 |
|
|
7,017 |
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|
27,190 |
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| Foreign currency and other |
|
(70) |
|
|
(273) |
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|
(343) |
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| Balance at September 30, 2020 |
|
$ |
603,350 |
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|
$ |
303,347 |
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|
$ |
906,697 |
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Intangible assets, net consist of the following:
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September 30, 2020 |
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December 31, 2019 |
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Gross |
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Net |
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Gross |
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Net |
| |
|
Carrying |
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Accumulated |
|
Carrying |
|
Carrying |
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Accumulated |
|
Carrying |
| |
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Amount |
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Amortization |
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Amount |
|
Amount |
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Amortization |
|
Amount |
| Customer lists |
|
$ |
591,520 |
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|
$ |
(186,296) |
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|
$ |
405,224 |
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|
$ |
591,520 |
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|
$ |
(148,517) |
|
|
$ |
443,003 |
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| Proprietary technologies |
|
89,914 |
|
|
(57,897) |
|
|
32,017 |
|
|
87,714 |
|
|
(44,165) |
|
|
43,549 |
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| Trade names |
|
33,700 |
|
|
(18,358) |
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|
15,342 |
|
|
33,700 |
|
|
(14,663) |
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|
19,037 |
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| Total intangible assets |
$ |
715,134 |
|
|
$ |
(262,551) |
|
|
$ |
452,583 |
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|
$ |
712,934 |
|
|
$ |
(207,345) |
|
|
$ |
505,589 |
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There were no material retirements of intangible assets during the three and nine months ended September 30, 2020 and 2019.
Amortization expense was as follows:
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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|
2020 |
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2019 |
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2020 |
|
2019 |
| Amortization expense |
|
$ |
18,510 |
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|
$ |
19,242 |
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|
$ |
56,014 |
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|
$ |
48,824 |
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