Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets, Net (Tables)

v3.21.2
Goodwill and Intangible Assets, Net (Tables)
6 Months Ended
Jun. 30, 2021
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 21,858  —  21,858 
Foreign exchange rates —  (138) (138)
Balance at June 30, 2021 $ 625,208  $ 303,285  $ 928,493 
Schedule of components of intangible assets, net
Intangible assets, net consisted of the following:
  June 30, 2021 December 31, 2020
  Gross   Net Gross   Net
  Carrying Accumulated Carrying Carrying Accumulated Carrying
  Amount Amortization Amount Amount Amortization Amount
(in thousands)
Customer lists $ 593,820  $ (221,893) $ 371,927  $ 591,520  $ (198,555) $ 392,965 
Proprietary technologies 85,324  (33,876) 51,448  54,914  (26,949) 27,965 
Trade names 33,700  (22,052) 11,648  33,700  (19,589) 14,111 
Total intangible assets $ 712,844  $ (277,821) $ 435,023  $ 680,134  $ (245,093) $ 435,041 
Schedule of amortization expense
Amortization expense was as follows:
  Three Months Ended Six Months Ended
  June 30, June 30,
  2021 2020 2021 2020
(in thousands)
Amortization expense $ 17,502  $ 18,746  $ 33,980  $ 37,504