Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.20.4
Segment Information
 12 Months Ended
Dec. 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 – leading data aggregation and data intelligence 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 year ended December 31, 2020.
See “Note 14—Revenues and Cost of Revenues” for detail of revenues by segment.
 
The following table presents a reconciliation from income (loss) from operations by segment to consolidated net income (loss) attributable to Envestnet, Inc.:
  Year Ended December 31,
  2020 2019 2018
Envestnet Wealth Solutions $ 91,501  $ 67,713  $ 75,491 
Envestnet Data & Analytics (9,943) (25,262) (10,013)
Nonsegment operating expenses (62,117) (58,524) (51,313)
Income (loss) from operations 19,441  (16,073) 14,165 
Interest expense, net (30,392) (29,173) (22,840)
Other income (expense), net 2,906  (2,849) (487)
Consolidated loss before income tax benefit (8,045) (48,095) (9,162)
Income tax benefit (5,401) (30,893) (13,172)
Consolidated net income (loss) (2,644) (17,202) 4,010 
Add: Net (income) loss attributable to non-controlling interest (466) 420  1,745 
Consolidated net income (loss) attributable to Envestnet, Inc. $ (3,110) $ (16,782) $ 5,755 

A summary of consolidated total assets, consolidated depreciation and amortization and consolidated capital expenditures by segment follows:
  December 31,
  2020 2019
Segment assets:    
Envestnet Wealth Solutions $ 1,634,153  $ 1,297,891 
Envestnet Data & Analytics 510,137  503,993 
Consolidated total assets $ 2,144,290  $ 1,801,884 

  Year Ended December 31,
  2020 2019 2018
Segment depreciation and amortization:      
Envestnet Wealth Solutions $ 80,714  $ 65,746  $ 45,139 
Envestnet Data & Analytics 32,947  35,525  32,487 
Consolidated depreciation and amortization $ 113,661  $ 101,271  $ 77,626 

  Year Ended December 31,
  2020 2019 2018
Segment capital expenditures:      
Envestnet Wealth Solutions $ 46,891  $ 42,395  $ 36,406 
Envestnet Data & Analytics 20,105  11,548  8,186 
Consolidated capital expenditures $ 66,996  $ 53,943  $ 44,592