Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.8.0.1
Property and Equipment, Net
 3 Months Ended
Mar. 31, 2018
Property and Equipment, Net  
Property and Equipment, Net

7.     Property and Equipment, Net

 

Property and equipment, net consists of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

    

December 31,

 

 

    

Estimated Useful Life

    

2018

    

2017

    

Cost:

 

 

 

 

 

 

 

 

 

Computer equipment and software

 

3 years

 

$

61,067

 

$

56,192

 

Leasehold improvements

 

Shorter of the lease term or useful life of the asset

 

 

24,995

 

 

23,192

 

Office furniture and fixtures

 

3-7 years

 

 

8,164

 

 

8,110

 

Other office equipment

 

3-5 years

 

 

5,014

 

 

2,052

 

 

 

 

 

 

99,240

 

 

89,546

 

Less: accumulated depreciation and amortization

 

 

 

 

(59,202)

 

 

(53,637)

 

Property and equipment, net

 

 

 

$

40,038

 

$

35,909

 

 

During the three months ended March 31, 2018, the Company retired property and equipment that were no longer in service in the amount of $3,087, primarily related to fully depreciated computer equipment and software assets. Of this total, $2,211 of the assets originated in the Envestnet segment and the remaining $876 originated in the Envestnet | Yodlee segment. Asset retirements during the three months ended March 31, 2017 were not material. Losses on asset retirements were not material during the three months ended March 31, 2018 and 2017.

 

Depreciation and amortization expense was as follows:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

 

    

2018

    

2017

Depreciation and amortization expense

 

$

3,918

 

$

4,091