Quarterly report pursuant to Section 13 or 15(d)

Segment Information

Segment Information
3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Business segments are generally organized around the Company's business services. The Company's business segments are:
Envestnet Wealth Solutions a leading provider of unified wealth management software and services to empower financial advisors and institutions to enable them to deliver an intelligent financial life to their clients.

Envestnet Data & Analytics a leading data aggregation and data intelligence platform powering dynamic, cloud-based innovation for digital financial services.

The information in the following tables is derived from the Company’s internal financial reporting used for corporate management purposes. Nonsegment operating expenses may include salary and benefits for certain corporate officers, certain types of professional service expenses and insurance, acquisition related transaction costs, certain restructuring charges and other non-recurring and/or non-operationally related expenses. Intersegment revenues were not material for the three months ended March 31, 2022 and 2021.
See “Note 10—Revenues and Cost of Revenues” for detail of revenues by segment.

The following table presents a reconciliation from income (loss) from operations by segment to consolidated net income (loss) attributable to Envestnet, Inc.:
  Three Months Ended
  March 31,
  2022 2021
(in thousands)
Envestnet Wealth Solutions $ 25,269  $ 34,197 
Envestnet Data & Analytics (5,587) 1,289 
Nonsegment operating expenses (26,403) (18,671)
Income (loss) from operations (6,721) 16,815 
Other expense, net (5,967) (7,468)
Consolidated income (loss) before income tax benefit (12,688) 9,347 
Income tax provision (benefit) 2,020  (5,588)
Consolidated net income (loss) (14,708) 14,935 
Add: Net loss attributable to non-controlling interest 849  11 
Consolidated net income (loss) attributable to Envestnet, Inc. $ (13,859) $ 14,946 

A summary of consolidated total assets follows:
  March 31, December 31,
  2022 2021
(in thousands)
Envestnet Wealth Solutions $ 1,658,134  $ 1,720,779 
Envestnet Data & Analytics 541,636  520,403 
Consolidated total assets $ 2,199,770  $ 2,241,182