Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

Segment Information

Business segments are generally organized around the Company's business services. The Company's business segments are:

•Envestnet Wealth Solutions – a leading provider of unified wealth management software and services to empower financial advisors and institutions.

•Envestnet Data & Analytics – a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services.

The information in the following tables is derived from the Company’s internal financial reporting used for corporate management purposes. Nonsegment operating expenses include salary and benefits for certain corporate officers, certain types of professional service expenses and insurance, acquisition related transaction costs, restructuring charges, and other non-recurring and/or non-operationally related expenses. Intersegment revenues were not material for the three and six months ended June 30, 2020 and 2019.

See “Note 11—Revenues and Cost of Revenues” for detail of revenues by segment.

The following table presents a reconciliation from Income (loss) from operations by segment to consolidated net income (loss) attributable to Envestnet, Inc.:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Envestnet Wealth Solutions	$	19,867	$	12,379	$	31,207	$	29,223
Envestnet Data & Analytics	(941)		(8,960)		(5,526)		(16,888)
Nonsegment operating expenses	(14,918)		(23,676)		(29,290)		(41,329)
Income (loss) from operations	4,008		(20,257)		(3,609)		(28,994)
Other expense, net	(8,173)		(7,512)		(9,710)		(13,275)
Consolidated loss before income tax provision (benefit)	(4,165)		(27,769)		(13,319)		(42,269)
Income tax provision (benefit)	1,306		(28,382)		(658)		(24,614)
Consolidated net income (loss)	(5,471)		613		(12,661)		(17,655)
Add: Net loss attributable to non-controlling interest	547		280		401		363
Consolidated net income (loss) attributable to Envestnet, Inc.	$	(4,924)	$	893	$	(12,260)	$	(17,292)

A summary of consolidated total assets, consolidated depreciation and amortization and consolidated capital expenditures follows:

	June 30,		December 31,
	2020		2019
Segment assets:
Envestnet Wealth Solutions	$	1,323,409	$	1,297,891
Envestnet Data & Analytics	507,996		503,993
Consolidated assets	$	1,831,405	$	1,801,884

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Segment depreciation and amortization:
Envestnet Wealth Solutions	$	20,081	$	16,376	$	39,501	$	27,643
Envestnet Data & Analytics	8,362		10,539		16,625		18,789
Consolidated depreciation and amortization	$	28,443	$	26,915	$	56,126	$	46,432

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Segment capital expenditures:
Envestnet Wealth Solutions	$	11,200	$	10,027	$	21,390	$	20,865
Envestnet Data & Analytics	5,100		1,939		8,642		3,533
Consolidated capital expenditures	$	16,300	$	11,966	$	30,032	$	24,398