Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets, Net (Tables)

v3.22.4
Goodwill and Intangible Assets, Net (Tables)
 12 Months Ended
Dec. 31, 2022
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
(in thousands)
Balance at December 31, 2020 $ 603,350  $ 303,423  $ 906,773 
Harvest acquisition 18,526  —  18,526 
Foreign currency translation —  (145) (145)
Balance at December 31, 2021 621,876  303,278  925,154 
401kplans.com acquisition 11,396  —  11,396 
Truelytics acquisition —  16,217  16,217 
Redi2 acquisition 46,467  —  46,467 
Foreign currency translation —  (820) (820)
Balance at December 31, 2022 $ 679,739  $ 318,675  $ 998,414 
Schedule of Components of Intangible Assets, Net
Intangible assets, net consisted of the following:

  December 31, 2022 December 31, 2021
  Gross   Net Gross   Net
  Carrying Accumulated Carrying Carrying Accumulated Carrying
  Amount Amortization Amount Amount Amortization Amount
(in thousands)
Customer lists $ 604,080  $ (285,288) $ 318,792  $ 590,080  $ (241,189) $ 348,891 
Proprietary technologies 113,224  (59,401) 53,823  85,324  (43,004) 42,320 
Trade names 15,700  (8,320) 7,380  33,700  (24,515) 9,185 
Total intangible assets $ 733,004  $ (353,009) $ 379,995  $ 709,104  $ (308,708) $ 400,396 
Schedule of Amortization Expense
Amortization expense was as follows:

  Year Ended December 31,
  2022 2021 2020
(in thousands)
Amortization expense $ 71,901  $ 68,587  $ 73,559 
Schedule of Future Amortization Expense of the Intangible Assets
Future amortization expense of the Company's intangible assets as of December 31, 2022, is expected to be as follows:

Amortization Expense
(in thousands)
Years ending December 31:
2023 $ 60,087 
2024 53,240 
2025 49,900 
2026 41,997 
2027 33,432 
Thereafter 141,339 
Total $ 379,995