Envestnet, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

Property and Equipment, Net

6 Months Ended

Jun. 30, 2018

Property and Equipment, Net

Property and Equipment, Net

7. Property and Equipment, Net

Property and equipment, net consists of the following:


		June 30,		December 31,
	Estimated Useful Life	2018		2017
Cost:
Computer equipment and software	3 years	$	60,525	$	56,192
Leasehold improvements	Shorter of the lease term or useful life of the asset		25,448		23,192
Office furniture and fixtures	3-7 years		8,498		8,110
Other office equipment	3-5 years		5,075		2,052
			99,546		89,546
Less: accumulated depreciation and amortization			(59,149)		(53,637)
Property and equipment, net		$	40,397	$	35,909

During the three and six months ended June 30, 2018, the Company retired property and equipment that were no longer in service in the amount of $3,651 and $6,738, primarily related to fully depreciated computer equipment and software assets. Of the $3,651, $1,126 of the assets originated in the Envestnet segment and the remaining $2,525 originated in the Envestnet | Yodlee segment for the three months ended June 30, 2018. Of the $6,738, $3,337 of the assets originated in the Envestnet segment and the remaining $3,401 originated in the Envestnet | Yodlee segment for the six months ended June 30, 2018. Asset retirements during the three and six months ended June 30, 2017 were not material. Losses on asset retirements were not material during the three and six months ended June 30, 2018 and 2017.

Depreciation and amortization expense was as follows:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
Depreciation and amortization expense	$	3,920	$	3,853	$	7,838	$	7,944