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