| Goodwill and Intangible Assets, Net |
Goodwill and Intangible Assets, Net Changes in the carrying amount of goodwill were as follows:
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Envestnet Wealth Solutions |
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Envestnet Data & Analytics |
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Total |
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(in thousands) |
| Balance at December 31, 2020 |
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$ |
603,350 |
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$ |
303,423 |
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$ |
906,773 |
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| Harvest Acquisition |
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17,866 |
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— |
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17,866 |
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| Foreign exchange rates |
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— |
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(135) |
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(135) |
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| Balance at September 30, 2021 |
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$ |
621,216 |
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$ |
303,288 |
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$ |
924,504 |
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Intangible assets, net consisted of the following:
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September 30, 2021 |
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December 31, 2020 |
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Gross |
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Net |
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Gross |
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Net |
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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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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 |
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(in thousands) |
| Customer lists |
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$ |
593,820 |
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$ |
(233,477) |
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$ |
360,343 |
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$ |
591,520 |
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$ |
(198,555) |
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$ |
392,965 |
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| Proprietary technologies |
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85,324 |
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(38,439) |
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46,885 |
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54,914 |
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(26,949) |
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27,965 |
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| Trade names |
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33,700 |
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(23,284) |
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10,416 |
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33,700 |
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(19,589) |
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14,111 |
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| Total intangible assets |
$ |
712,844 |
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$ |
(295,200) |
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$ |
417,644 |
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$ |
680,134 |
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$ |
(245,093) |
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$ |
435,041 |
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There were no material retirements of intangible assets during the three and nine months ended September 30, 2021 and 2020.
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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2021 |
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2020 |
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2021 |
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2020 |
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(in thousands) |
| Amortization expense |
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$ |
17,390 |
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$ |
18,510 |
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$ |
51,370 |
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$ |
56,014 |
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