| 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 |
Balance at December 31, 2019 |
|
$ |
583,247 |
|
|
$ |
296,603 |
|
|
$ |
879,850 |
|
Acquisitions |
|
20,173 |
|
|
7,017 |
|
|
27,190 |
|
Foreign currency and other |
|
(70 |
) |
|
(469 |
) |
|
(539 |
) |
Balance at March 31, 2020 |
|
$ |
603,350 |
|
|
$ |
303,151 |
|
|
$ |
906,501 |
|
Intangible assets, net consist of the following:
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March 31, 2020 |
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December 31, 2019 |
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Gross |
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Net |
|
Gross |
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|
Net |
|
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Estimated |
|
Carrying |
|
Accumulated |
|
Carrying |
|
Carrying |
|
Accumulated |
|
Carrying |
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|
Useful Life |
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Amount |
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Amortization |
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Amount |
|
Amount |
|
Amortization |
|
Amount |
Customer lists |
|
7-16 years |
|
$ |
591,520 |
|
|
$ |
(161,339 |
) |
|
$ |
430,181 |
|
|
$ |
591,520 |
|
|
$ |
(148,517 |
) |
|
$ |
443,003 |
|
Proprietary technologies |
|
4-8 years |
|
90,719 |
|
|
(48,865 |
) |
|
41,854 |
|
|
87,714 |
|
|
(44,165 |
) |
|
43,549 |
|
Trade names |
|
2-7 years |
|
33,700 |
|
|
(15,895 |
) |
|
17,805 |
|
|
33,700 |
|
|
(14,663 |
) |
|
19,037 |
|
Total intangible assets |
|
$ |
715,939 |
|
|
$ |
(226,099 |
) |
|
$ |
489,840 |
|
|
$ |
712,934 |
|
|
$ |
(207,345 |
) |
|
$ |
505,589 |
|
There were no retirements of intangible assets during the three months ended March 31, 2020.
Amortization expense was as follows:
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Three Months Ended |
|
|
March 31, |
|
|
2020 |
|
2019 |
Amortization expense |
|
$ |
18,758 |
|
|
$ |
12,528 |
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