Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.19.3.a.u2
Property and Equipment
12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment
 
Property and equipment consisted of the following:
 
 
 
 
 
December 31,
 
 
Estimated Useful Life
 
2019
 
2018
Cost:
 
 
 
 

 
 

Computer equipment and software
 
3 years
 
$
72,190

 
$
64,346

Leasehold improvements
 
Shorter of the lease term or useful life of the asset
 
34,645

 
28,191

Office furniture and fixtures
 
3-7 years
 
10,832

 
9,291

Office equipment and other
 
3-5 years
 
6,850

 
5,577

Building and building improvements
 
7-39 years
 
2,647

 

Land
 
Not applicable
 
940

 

 
 
 
 
128,104

 
107,405

Less: accumulated depreciation and amortization
 
(74,348
)
 
(62,414
)
Total property and equipment, net
 
$
53,756

 
$
44,991


 
During 2019 and 2018, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $8,264 and $5,984, respectively. During 2019 and 2018, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment with an historical cost of $4,621 and $5,387, respectively. Gains and losses on asset retirements during 2019 and 2018 were not material.

The following table presents the cost amounts and related accumulated depreciation written off by category:

 
 
Year Ended December 31, 2019
 
Year Ended December 31, 2018
 
 
 
 
Accumulated
 
 
 
Accumulated
 
 
Cost
 
Depreciation
 
Cost
 
Depreciation
Computer equipment and software
 
$
12,597

 
$
(12,542
)
 
$
10,733

 
$
(10,709
)
Leasehold improvements
 
229

 
(135
)
 
297

 
(269
)
Office furniture and fixtures
 
42

 
(21
)
 
32

 
(32
)
Office equipment and other
 
17

 
(17
)
 
309

 
(288
)
Total property and equipment retirements
 
$
12,885


$
(12,715
)

$
11,371


$
(11,298
)

 
Depreciation and amortization expense was as follows:

 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Depreciation and amortization expense
 
$
20,777

 
$
15,737

 
$
15,383