Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net (Tables)

v3.22.2
Goodwill and Intangible Assets, Net (Tables)
 6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule 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, 2021
 $ 621,876  $ 303,278  $ 925,154 
401kplans.com acquisition 11,378  —  11,378 
Foreign currency translation —  (478) (478)
Balance at June 30, 2022
 $ 633,254  $ 302,800  $ 936,054 
Schedule of Intangible Assets, Net
Intangible assets, net consisted of the following:
  June 30, 2022 December 31, 2021
  Gross   Net Gross   Net
  Carrying Accumulated Carrying Carrying Accumulated Carrying
  Amount Amortization Amount Amount Amortization Amount
(in thousands)
Customer lists $ 590,080  $ (263,212) $ 326,868  $ 590,080  $ (241,189) $ 348,891 
Proprietary technologies 106,324  (53,682) 52,642  85,324  (43,004) 42,320 
Trade names 33,700  (26,979) 6,721  33,700  (24,515) 9,185 
Total intangible assets $ 730,104  $ (343,873) $ 386,231  $ 709,104  $ (308,708) $ 400,396 
Schedule of Amortization Expense
Amortization expense was as follows:
  Three Months Ended Six Months Ended
  June 30, June 30,
  2022 2021 2022 2021
(in thousands)
Amortization expense $ 17,645  $ 17,502  $ 35,165  $ 33,980