Goodwill and Intangible Assets, Net (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of changes in the carrying amount of goodwill by segment |
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, 2018 |
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$ |
243,809 |
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$ |
275,293 |
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$ |
519,102 |
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| Private AI company acquisition |
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— |
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21,507 |
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21,507 |
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| PortfolioCenter acquisition |
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15,587 |
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— |
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15,587 |
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| PIEtech acquisition |
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323,951 |
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— |
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323,951 |
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| Foreign currency and other |
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(100) |
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(197) |
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(297) |
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| Balance at December 31, 2019 |
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583,247 |
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|
296,603 |
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|
879,850 |
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| Private Technology company acquisition |
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— |
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|
7,019 |
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7,019 |
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| Private Cloud Technology company acquisition |
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10,932 |
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— |
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10,932 |
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| Private Financial Technology Design company acquisition |
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9,241 |
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— |
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9,241 |
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| Foreign currency and other |
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(70) |
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(199) |
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(269) |
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| Balance at December 31, 2020 |
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$ |
603,350 |
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$ |
303,423 |
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$ |
906,773 |
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| Schedule of components of intangible assets, net |
Intangible assets, net consisted of the following:
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December 31, 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 |
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Carrying |
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Accumulated |
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Carrying |
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Carrying |
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Accumulated |
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Carrying |
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Amount |
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Amortization |
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Amount |
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Amount |
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Amortization |
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Amount |
| Customer lists |
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$ |
591,520 |
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$ |
(198,555) |
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$ |
392,965 |
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$ |
591,520 |
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$ |
(148,517) |
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$ |
443,003 |
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| Proprietary technologies |
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|
54,914 |
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(26,949) |
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|
27,965 |
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87,714 |
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(44,165) |
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43,549 |
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| Trade names |
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33,700 |
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(19,589) |
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14,111 |
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33,700 |
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(14,663) |
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19,037 |
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| Total intangible assets |
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$ |
680,134 |
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$ |
(245,093) |
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$ |
435,041 |
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$ |
712,934 |
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$ |
(207,345) |
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$ |
505,589 |
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| Schedule of amortization expense |
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 |
| Amortization expense |
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$ |
73,559 |
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$ |
68,452 |
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$ |
53,856 |
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| Schedule of future amortization expense of the intangible assets |
Future amortization expense of the Company's intangible assets as of December 31, 2020, is expected to be as follows:
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| Years ending December 31: |
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| 2021 |
$ |
63,645 |
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| 2022 |
59,900 |
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| 2023 |
45,551 |
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| 2024 |
38,751 |
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| 2025 |
35,485 |
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| Thereafter |
191,709 |
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| Total |
$ |
435,041 |
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