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INTANGIBLE ASSETS, NET | 3 Months Ended
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Mar. 31, 2017
INTANGIBLE ASSETS, NET [Abstract] |
INTANGIBLE ASSETS, NET | 5. INTANGIBLE ASSETS, NET Intangible assets, net as of March 31, 2017 and December 31, 2016 consisted of the following (in thousands):
|  | March 31, 2017 |  |  | December 31, 2016 |
Tradenames |  | $ | 23,678 |  |  | $ | 21,234 |
Referral relationships, net of accumulated amortization of $5,733 and $5,275, respectively |  |  | 16,721 |  |  |  | 14,859 |
Non-compete agreements, net of accumulated amortization of $3,575 and $3,380, respectively |  |  | 2,814 |  |  |  | 1,967 |
|  | $ | 43,213 |  |  | $ | 38,060 |
Tradenames, referral relationships and non-compete agreements are related to the businesses acquired. Typically, the value assigned to tradenames has an indefinite life and is tested at least annually for impairment using the relief from royalty method in conjunction with the Company’s annual goodwill impairment test. However, for one acquisition, the value assigned to tradename which has a defined period of use is being amortized over the term of the six year agreement in which the Company has acquired the right to use the specific tradename. The value assigned to referral relationships is being amortized over their respective estimated useful lives which range from six to 16 years. Non-compete agreements are amortized over the respective term of the agreements which range from five to six years. The following table details the amount of amortization expense recorded for intangible assets for the three months ended March 31, 2017 and 2016 (in thousands):
|  | Three Months Ended |  |  | Three Months Ended |
|  | March 31, 2017 |  |  | March 31, 2016 |
Tradenames |  | $ | - |  |  | $ | 21 |
Referral relationships |  |  | 458 |  |  |  | 323 |
Non-compete agreements |  |  | 195 |  |  |  | 134 |
|  | $ | 653 |  |  | $ | 478 |
Based on the balance of referral relationships and non-compete agreements as of March 31, 2017, the expected amount to be amortized in 2017 and thereafter by year is as follows (in thousands):
Referral Relationships |  |  | Non-Compete Agreements
Years | Annual Amount |  | Years | Annual Amount
2017 | 1,878 |  | 2017 | 782
2018 | 1,846 |  | 2018 | 733
2019 | 1,758 |  | 2019 | 661
2020 | 1,758 |  | 2020 | 448
2021 | 1,758 |  | 2021 | 370
2022 | 1,709 |  | 2022 | 15
2023 | 1,601 |  |  |
2024 | 1,483 |  |  |
2025 | 1,376 |  |  |
2026 | 915 |  |  |
2027 | 755 |  |  |
2028 | 297 |  |  |
2029 | 45 |  |  |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 + Details
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- References No definition available. + Details
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