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INTANGIBLE ASSETS, NET | 9 Months Ended
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Sep. 30, 2017
INTANGIBLE ASSETS, NET [Abstract] |
INTANGIBLE ASSETS, NET | 6. INTANGIBLE ASSETS, NET Intangible assets, net as of September 30, 2017 and December 31, 2016 consisted of the following (in thousands):
|  | September 30, 2017 |  |  | December 31, 2016 |
Tradenames |  | $ | 26,352 |  |  | $ | 21,234 |
Referral relationships, net of accumulated amortization of $6,741 and $5,275, respectively |  |  | 18,092 |  |  |  | 14,859 |
Non-compete agreements, net of accumulated amortization of $4,012 and $3,380, respectively |  |  | 3,124 |  |  |  | 1,967 |
|  | $ | 47,568 |  |  | $ | 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. 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 and nine months ended September 30, 2017 and 2016 (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2017 |  |  | September 30, 2016 |  |  | September 30, 2017 |  |  | September 30, 2016 |
Tradenames |  | $ | - |  |  | $ | 20 |  |  | $ | - |  |  | $ | 62 |
Referral relationships |  |  | 527 |  |  |  | 352 |  |  |  | 1,466 |  |  |  | 1,027 |
Non-compete agreements |  |  | 231 |  |  |  | 148 |  |  |  | 632 |  |  |  | 429 |
|  | $ | 758 |  |  | $ | 520 |  |  | $ | 2,098 |  |  | $ | 1,518 |
Based on the balance of referral relationships and non-compete agreements as of September 30, 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 | 1,993 |  | 2017 | 860
2018 | 2,063 |  | 2018 | 883
2019 | 1,973 |  | 2019 | 810
2020 | 1,973 |  | 2020 | 597
2021 | 1,973 |  | 2021 | 519
Thereafter | 9,577 |  | Thereafter | 88

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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 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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- References No definition available. + Details
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