Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net

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Property and Equipment, Net
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
 
Property and equipment, net consisted of the following:
 
    December 31,
  Estimated Useful Life 2021 2020
(in thousands)
Cost:
Computer equipment and software 3 years $ 72,879  $ 72,443 
Leasehold improvements Shorter of the lease term or useful life of the asset 43,544  37,671 
Office furniture and fixtures
3-7 years
 12,214  11,249 
Office equipment and other
3-5 years
 7,973  7,151 
Building and building improvements
7-39 years
 2,729  2,669 
Land Not applicable 940  940 
  140,279  132,123 
Less: accumulated depreciation and amortization (90,064) (84,154)
Total property and equipment, net $ 50,215  $ 47,969 

During 2021 and 2020, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $12.7 million and $8.5 million, respectively. During 2021 and 2020, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment with an historical cost of $2.4 million and $3.8 million, respectively. Gains and losses on asset retirements during 2021 and 2020 were not material.
The following table presents the cost amounts and related accumulated depreciation written off by category:

  Year Ended December 31, 2021 Year Ended December 31, 2020
    Accumulated   Accumulated
  Cost Depreciation Cost Depreciation
(in thousands)
Computer equipment and software $ 10,936  $ (10,838) $ 9,844  $ (9,606)
Leasehold improvements 197  (178) 1,775  (1,326)
Office furniture and fixtures 1,702  (1,646) 320  (243)
Office equipment and other 2,227  (1,915) 381  (348)
Total property and equipment retirements $ 15,062  $ (14,577) $ 12,320  $ (11,523)
 
Depreciation and amortization expense was as follows:
  Year Ended December 31,
  2021 2020 2019
(in thousands)
Depreciation and amortization expense $ 20,577  $ 21,432  $ 20,777