Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net (Tables)

v3.21.2
Goodwill and Intangible Assets, Net (Tables)
 9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in the carrying amount of goodwill by segment
Changes in the carrying amount of goodwill were as follows:
  Envestnet Wealth Solutions Envestnet Data & Analytics Total
(in thousands)
Balance at December 31, 2020 $ 603,350  $ 303,423  $ 906,773 
Harvest Acquisition 17,866  —  17,866 
Foreign exchange rates —  (135) (135)
Balance at September 30, 2021 $ 621,216  $ 303,288  $ 924,504 
Schedule of components of intangible assets, net
Intangible assets, net consisted of the following:
  September 30, 2021 December 31, 2020
  Gross   Net Gross   Net
  Carrying Accumulated Carrying Carrying Accumulated Carrying
  Amount Amortization Amount Amount Amortization Amount
(in thousands)
Customer lists $ 593,820  $ (233,477) $ 360,343  $ 591,520  $ (198,555) $ 392,965 
Proprietary technologies 85,324  (38,439) 46,885  54,914  (26,949) 27,965 
Trade names 33,700  (23,284) 10,416  33,700  (19,589) 14,111 
Total intangible assets $ 712,844  $ (295,200) $ 417,644  $ 680,134  $ (245,093) $ 435,041 
Schedule of amortization expense
Amortization expense was as follows:
  Three Months Ended Nine Months Ended
  September 30, September 30,
  2021 2020 2021 2020
(in thousands)
Amortization expense $ 17,390  $ 18,510  $ 51,370  $ 56,014