8.	Intangible Assets, net

Intangible assets, net as of December 31, 2017 and 2016 consisted of the following (in thousands):

	December 31, 2017		December 31, 2016
Tradenames	$	29,673	$	21,234
Referral relationships, net of accumulated amortization of $7,209 and $5,275, respectively		16,811		14,859
Non-compete agreements, net of accumulated amortization of $4,100 and $3,380, respectively		2,470		1,967
	$	48,954	$	38,060

Tradenames, referral relationships and non-compete agreements are related to the businesses acquired. 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 6 to 16 years. Non-compete agreements are amortized over the respective term of the agreements which range from 5 to 6 years.

The following table details the amount of amortization expense recorded for intangible assets for the years ended December 31, 2017, 2016 and 2015 (in thousands):

	Year Ended		Year Ended		Year Ended
	December 31, 2017		December 31, 2016		December 31, 2015
Tradenames	$	-	$	330	$	84
Referral relationships		1,934		1,512		1,153
Non-compete agreements		720		525		478
	$	2,654	$	2,367	$	1,715

For one acquisition, the value assigned to tradename was being amortized over the term of the six year agreement in which the Company had acquired the right to use the specific tradename. In 2016, the remaining value of this tradename was charged to earnings and included in amortization expense in the above table as the Company decided to combine two acquired operations in Georgia and the tradename under this six year agreement will no longer be used.

The remaining balances of the referral relationships and non-compete agreements is expected to be amortized as follows (in thousands):

Referral Relationships			Non-Compete Agreements
Years	Annual Amount		Years		Annual Amount

2018	$	2,032		2018	$	763
2019	$	1,942		2019	$	691
2020	$	1,942		2020	$	477
2021	$	1,942		2021	$	399
2022	$	1,894		2022	$	140
Thereafter	$	7,059