Property and Equipment, Net

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property and equipment, net consists of the following:


		June 30,		December 31,
	Estimated Useful Life	2020		2019
Cost:
Computer equipment and software	3 years	$	71,090	$	72,190
Leasehold improvements	Shorter of the lease term or useful life of the asset	37,271		34,645
Office furniture and fixtures	3-7 years	10,668		10,832
Office equipment and other	3-5 years	6,925		6,850
Building and building improvements	7-39 years	2,669		2,647
Land	Not applicable	940		940
		129,563		128,104
Less: accumulated depreciation and amortization				(79,811)		(74,348)
Total property and equipment, net				$	49,752	$	53,756

During the three and six months ended June 30, 2020, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $2,903 and $4,495, respectively. During the three and six months ended June 30, 2020, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment with an historical cost of $117 and $684, respectively.

During the three and six months ended June 30, 2019, the Company retired property and equipment that was no longer in service for the Envestnet Wealth Solutions segment with an historical cost of $2,396 and $3,642, respectively. During the three and six months ended June 30, 2019, the Company retired property and equipment that was no longer in service for the Envestnet Data & Analytics segment with an historical cost of $1,640 and $4,121, respectively.

Gains and losses on asset retirements during the three and six months ended June 30, 2020 and 2019 were not material.

Depreciation and amortization expense was as follows:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020		2019		2020		2019
Depreciation and amortization expense	$	5,363	$	6,751	$	10,680	$	11,117