Quarterly report pursuant to Section 13 or 15(d)

Goodwill (Tables)

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Goodwill (Tables)
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Segment
Changes in the carrying amount of goodwill by reportable segment were as follows:

  Envestnet Wealth Solutions Envestnet Data & Analytics Total
(in thousands)
Balance as of December 31, 2023 $ 710,326  $ 96,237  $ 806,563 
Goodwill reclassified to assets held for deconsolidation (1)
(26,647) —  (26,647)
Balance as of March 31, 2024 $ 683,679  $ 96,237  $ 779,916 
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(1) The reclassification of goodwill to assets held for deconsolidation was considered an event or change in circumstance which required goodwill to be tested for impairment as of March 31, 2024. A qualitative assessment was performed and it was determined that it was not more likely than not that the carrying value of the reporting unit exceeded its fair value and therefore a quantitative goodwill impairment evaluation was not required and no impairment was recorded.