Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.1
Segment Information
 3 Months Ended
Mar. 31, 2020
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.

•Envestnet Data & Analytics – a leading data aggregation and data analytics 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 include salary and benefits for certain corporate officers, certain types of professional service expenses and insurance, acquisition related transaction costs, restructuring charges, and other non-recurring and/or non-operationally related expenses. Intersegment revenues were not material for the three months ended March 31, 2020 and 2019.
 
See “Note 11—Revenue” for detail of revenues by segment.

The following table presents a reconciliation from loss from operations by segment to consolidated net loss attributable to Envestnet, Inc.:
 
 
Three Months Ended
 
 
March 31,
 
 
2020
 
2019
Envestnet Wealth Solutions
 
$
11,340

 
$
16,844

Envestnet Data & Analytics
 
(4,585
)
 
(7,928
)
Nonsegment operating expenses
 
(14,372
)
 
(17,653
)
Loss from operations
 
(7,617
)
 
(8,737
)
Other expense, net
 
(1,537
)
 
(5,763
)
Consolidated loss before income tax provision (benefit)

(9,154
)

(14,500
)
Income tax provision (benefit)
 
(1,964
)
 
3,768

Consolidated net loss
 
(7,190
)

(18,268
)
Add: Net (income) loss attributable to non-controlling interest
 
(146
)
 
83

Consolidated net loss attributable to Envestnet, Inc.

$
(7,336
)

$
(18,185
)

 
A summary of consolidated total assets, consolidated depreciation and amortization and consolidated capital expenditures follows:
 
 
March 31,
 
December 31,
 
 
2020
 
2019
Segment assets:
 
 
 
 
Envestnet Wealth Solutions
 
$
1,323,471

 
$
1,297,891

Envestnet Data & Analytics
 
506,987

 
503,993

Consolidated total assets
 
$
1,830,458

 
$
1,801,884


 
 
Three Months Ended
 
 
March 31,
 
 
2020
 
2019
Segment depreciation and amortization:
 
 
 
 
Envestnet Wealth Solutions
 
$
19,420

 
$
11,267

Envestnet Data & Analytics
 
8,263

 
8,250

Consolidated depreciation and amortization

$
27,683

 
$
19,517

 
 
 
Three Months Ended
 
 
March 31,
 
 
2020
 
2019
Segment capital expenditures:
 
 
 
 
Envestnet Wealth Solutions
 
$
10,190

 
$
10,838

Envestnet Data & Analytics
 
3,542

 
1,594

Consolidated capital expenditures

$
13,732

 
$
12,432