Goodwill and Intangible Assets, Net (Tables)
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9 Months Ended |
Sep. 30, 2018 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of changes in the carrying amount of goodwill by segment |
Changes in the carrying amount of goodwill were as follows:
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Envestnet |
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Envestnet | Yodlee |
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Total |
Balance at December 31, 2017 |
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$ |
163,751 |
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$ |
269,204 |
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$ |
432,955 |
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FolioDynamix acquisition |
|
81,207 |
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— |
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81,207 |
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Private company acquisition |
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— |
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|
6,885 |
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|
6,885 |
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Foreign currency |
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— |
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(1,124 |
) |
|
(1,124 |
) |
Balance at September 30, 2018 |
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$ |
244,958 |
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|
$ |
274,965 |
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$ |
519,923 |
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| Schedule of components of intangible assets, net |
Intangible assets, net consist of the following:
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September 30, 2018 |
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December 31, 2017 |
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Gross |
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Net |
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Gross |
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Net |
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Estimated |
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Carrying |
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Accumulated |
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Carrying |
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Carrying |
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Accumulated |
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Carrying |
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Useful Life |
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Amount |
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Amortization |
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Amount |
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Amount |
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Amortization |
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Amount |
Customer lists |
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7 |
– |
15 |
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years |
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$ |
372,850 |
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|
$ |
(105,186 |
) |
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$ |
267,664 |
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$ |
259,350 |
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$ |
(78,482 |
) |
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$ |
180,868 |
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Proprietary technologies |
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4 |
– |
8 |
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years |
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75,544 |
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(41,714 |
) |
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33,830 |
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57,377 |
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(31,067 |
) |
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26,310 |
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Trade names |
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1 |
– |
7 |
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years |
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29,540 |
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(12,919 |
) |
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16,621 |
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24,840 |
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(9,701 |
) |
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15,139 |
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Backlog |
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4 |
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years |
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11,000 |
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(10,848 |
) |
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152 |
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11,000 |
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(10,586 |
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|
414 |
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Total intangible assets |
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$ |
488,934 |
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$ |
(170,667 |
) |
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$ |
318,267 |
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$ |
352,567 |
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$ |
(129,836 |
) |
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$ |
222,731 |
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| Schedule of amortization expense |
Amortization expense was as follows:
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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2018 |
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2017 |
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2018 |
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2017 |
Amortization expense |
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$ |
13,477 |
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$ |
10,377 |
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$ |
40,831 |
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$ |
31,333 |
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| Schedule of future amortization expense of the intangible assets |
Future amortization expense of the intangible assets as of September 30, 2018, is expected to be as follows:
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Years ending December 31, |
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Remainder of 2018 |
$ |
12,984 |
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2019 |
48,334 |
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2020 |
44,380 |
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2021 |
35,744 |
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2022 |
33,266 |
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Thereafter |
143,559 |
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$ |
318,267 |
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