Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net (Tables)

v3.20.1
Goodwill and Intangible Assets, Net (Tables)
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in the carrying amount of goodwill by segment
Changes in the carrying amount of goodwill were as follows:
 
 
Envestnet Wealth Solutions
 
Envestnet Data & Analytics
 
Total
Balance at December 31, 2019
 
$
583,247

 
$
296,603

 
$
879,850

Acquisitions
 
20,173

 
7,017

 
27,190

Foreign currency and other
 
(70
)
 
(469
)
 
(539
)
Balance at March 31, 2020
 
$
603,350

 
$
303,151

 
$
906,501


Schedule of components of intangible assets, net
Intangible assets, net consist of the following:
 
 
 
 
March 31, 2020
 
December 31, 2019
 
 
 
 
Gross
 
 
 
Net
 
Gross
 
 
 
Net
 
 
Estimated
 
Carrying
 
Accumulated
 
Carrying
 
Carrying
 
Accumulated
 
Carrying
 
 
Useful Life
 
Amount
 
Amortization
 
Amount
 
Amount
 
Amortization
 
Amount
Customer lists
 
7-16 years
 
$
591,520

 
$
(161,339
)
 
$
430,181

 
$
591,520

 
$
(148,517
)
 
$
443,003

Proprietary technologies
 
4-8 years
 
90,719

 
(48,865
)
 
41,854

 
87,714

 
(44,165
)
 
43,549

Trade names
 
2-7 years
 
33,700

 
(15,895
)
 
17,805

 
33,700

 
(14,663
)
 
19,037

Total intangible assets
 
$
715,939

 
$
(226,099
)
 
$
489,840

 
$
712,934

 
$
(207,345
)
 
$
505,589


Schedule of amortization expense
Amortization expense was as follows:
 
 
Three Months Ended
 
 
March 31,
 
 
2020
 
2019
Amortization expense
 
$
18,758

 
$
12,528