Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net

v3.8.0.1
Goodwill and Intangible Assets, Net
3 Months Ended
Mar. 31, 2018
Goodwill and Intangible Assets, Net  
Goodwill and Intangible Assets, Net

9.Goodwill & Intangible Assets, Net

 

Changes in the carrying amount of goodwill were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Envestnet

 

Envestnet | Yodlee

 

Total

Balance at December 31, 2017

 

$

163,751

 

$

269,204

 

$

432,955

FolioDynamix acquisition

 

 

97,248

 

 

 —

 

 

97,248

Foreign currency

 

 

 —

 

 

(176)

 

 

(176)

Balance at March 31, 2018

 

$

260,999

 

$

269,028

 

$

530,027

Intangible assets, net consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2018

 

December 31, 2017

 

    

 

 

 

    

    

Gross

    

    

 

    

Net

    

Gross

    

    

 

    

Net

 

 

Estimated

 

Carrying

 

Accumulated

 

Carrying

 

Carrying

 

Accumulated

 

Carrying

 

 

Useful Life

 

Amount

 

Amortization

 

Amount

 

Amount

 

Amortization

 

Amount

Customer lists

 

7

-

15

years

 

$

354,350

 

$

(87,244)

 

$

267,106

 

$

259,350

 

$

(78,482)

 

$

180,868

Proprietary technologies

 

4

-

8

years

 

 

76,043

 

 

(34,984)

 

 

41,059

 

 

57,377

 

 

(31,067)

 

 

26,310

Trade names

 

1

-

7

years

 

 

29,540

 

 

(10,870)

 

 

18,670

 

 

24,840

 

 

(9,701)

 

 

15,139

Backlog

 

 

 

4

years

 

 

11,000

 

 

(10,673)

 

 

327

 

 

11,000

 

 

(10,586)

 

 

414

Total intangible assets

 

 

 

 

 

 

$

470,933

 

$

(143,771)

 

$

327,162

 

$

352,567

 

$

(129,836)

 

$

222,731

 

Amortization expense was as follows:

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

 

    

2018

    

2017

Amortization expense

 

$

13,935

 

$

10,585

 

Future amortization expense of the intangible assets as of March 31, 2018, is expected to be as follows:

 

 

 

 

 

 

 

Years ending December 31:

 

 

Remainder of 2018

$

39,500

2019

 

47,727

2020

 

43,591

2021

 

34,811

2022

 

32,223

Thereafter

 

129,310

 

$

327,162