Property and Equipment, Net

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Property and equipment, net consists of the following:


		September 30,		December 31,
	Estimated Useful Life	2020		2019
Cost:
Computer equipment and software	3 years	$	72,572	$	72,190
Leasehold improvements	Shorter of the lease term or useful life of the asset	37,840		34,645
Office furniture and fixtures	3-7 years	11,036		10,832
Office equipment and other	3-5 years	7,016		6,850
Building and building improvements	7-39 years	2,669		2,647
Land	Not applicable	940		940
		132,073		128,104
Less: accumulated depreciation and amortization		(83,090)		(74,348)
Total property and equipment, net		$	48,983	$	53,756

During the three and nine months ended September 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 $964 and $5,459, respectively. During the three and nine months ended September 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 $1,413 and $2,097, respectively.

During the three and nine months ended September 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 $1,355 and $4,997, respectively. During the three and nine months ended September 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 $174 and $4,295, respectively.

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

Depreciation and amortization expense was as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Depreciation and amortization expense	$	5,341	$	4,693	$	16,021	$	15,810