| Property and Equipment, Net |
Property and Equipment, Net
Property and equipment, net consisted of the following:
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December 31, |
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Estimated Useful Life |
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2020 |
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2019 |
| Cost: |
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| Computer equipment and software |
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3 years |
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$ |
72,443 |
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$ |
72,190 |
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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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37,671 |
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34,645 |
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| Office furniture and fixtures |
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3-7 years |
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11,249 |
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10,832 |
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| Office equipment and other |
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3-5 years |
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7,151 |
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6,850 |
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| Building and building improvements |
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7-39 years |
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2,669 |
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2,647 |
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| Land |
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Not applicable |
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940 |
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940 |
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132,123 |
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128,104 |
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| Less: accumulated depreciation and amortization |
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(84,154) |
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(74,348) |
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| Total property and equipment, net |
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$ |
47,969 |
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$ |
53,756 |
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During 2020 and 2019, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $8,495 and $8,264, respectively. During 2020 and 2019, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment with an historical cost of $3,825 and $4,621, respectively. Gains and losses on asset retirements during 2020 and 2019 were not material.
The following table presents the cost amounts and related accumulated depreciation written off by category:
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Year Ended December 31, 2020 |
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Year Ended December 31, 2019 |
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Accumulated |
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Accumulated |
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Cost |
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Depreciation |
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Cost |
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Depreciation |
| Computer equipment and software |
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$ |
9,844 |
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$ |
(9,606) |
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$ |
12,597 |
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$ |
(12,542) |
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| Leasehold improvements |
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1,775 |
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(1,326) |
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229 |
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(135) |
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| Office furniture and fixtures |
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320 |
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(243) |
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42 |
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(21) |
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| Office equipment and other |
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381 |
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(348) |
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17 |
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(17) |
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| Total property and equipment retirements |
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$ |
12,320 |
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$ |
(11,523) |
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$ |
12,885 |
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$ |
(12,715) |
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Depreciation and amortization expense was as follows:
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Year Ended December 31, |
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2020 |
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2019 |
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2018 |
| Depreciation and amortization expense |
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$ |
21,432 |
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$ |
20,777 |
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$ |
15,737 |
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