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INTANGIBLE ASSETS, NET | 6 Months Ended
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Jun. 30, 2018
INTANGIBLE ASSETS, NET [Abstract] |
INTANGIBLE ASSETS, NET |
8. | INTANGIBLE ASSETS, NET
Intangible assets, net as of June 30, 2018 and December 31, 2017 consisted of the following (in thousands):
|  | June 30, 2018 |  |  | December 31, 2017 |
Tradenames |  | $ | 28,934 |  |  | $ | 29,673 |
Referral relationships, net of accumulated amortization of $8,288 and $7,209, respectively |  |  | 17,580 |  |  |  | 16,811 |
Non-compete agreements, net of accumulated amortization of $4,388 and $4,100, respectively |  |  | 1,921 |  |  |  | 2,470 |
|  | $ | 48,435 |  |  | $ | 48,954 |
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 six months ended June 30, 2018 and 2017 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2018 |  |  | June 30, 2017 |  |  | June 30, 2018 |  |  | June 30, 2017 |
Referral relationships |  | $ | 559 |  |  | $ | 481 |  |  |  | 1,079 |  |  |  | 939 |
Non-compete agreements |  |  | 91 |  |  |  | 206 |  |  |  | 288 |  |  |  | 401 |
|  | $ | 650 |  |  | $ | 687 |  |  | $ | 1,367 |  |  | $ | 1,340 |
Based on the balance of referral relationships and non-compete agreements as of June 30, 2018, the expected amount to be amortized in 2018 and thereafter by year is as follows (in thousands):
Referral Relationships |  |  | Non-Compete Agreements |
Years |  | Annual Amount |  |  | Years |  |  | Annual Amount |
Ending December 31, |  |  |  |  | Ending December 31, |  |  |  |
2018 |  | $ | 2,170 |  |  |  | 2018 |  |  | $ | 626 |
2019 |  | $ | 2,089 |  |  |  | 2019 |  |  | $ | 622 |
2020 |  | $ | 2,089 |  |  |  | 2020 |  |  | $ | 409 |
2021 |  | $ | 2,089 |  |  |  | 2021 |  |  | $ | 331 |
2022 |  | $ | 2,040 |  |  |  | 2022 |  |  | $ | 150 |
2023 |  | $ | 1,933 |  |  |  | 2023 |  |  | $ | 71 |
Thereafter |  | $ | 6,249 |  |  |  |  |  |  |  |  |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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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Period Type: | duration