8.	INTANGIBLE ASSETS, NET

Intangible assets, net as of September 30, 2018 and December 31, 2017 consisted of the following (in thousands):

	September 30, 2018		December 31, 2017
Tradenames	$	29,631	$	29,673
Referral relationships, net of accumulated amortization of $8,857 and $7,209, respectively		17,771		16,811
Non-compete agreements, net of accumulated amortization of $4,560 and $4,100, respectively		1,909		2,470
	$	49,311	$	48,954

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 five to sixteen 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, 2018 and 2017 (in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
Referral relationships	$	569	$	527		1,648		1,466
Non-compete agreements		172		231		460		632
	$	741	$	758	$	2,108	$	2,098

Based on the balance of referral relationships and non-compete agreements as of September 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	$	2,196	2018	$	635
2019	$	2,166	2019	$	649
2020	$	2,166	2020	$	436
2021	$	2,166	2021	$	358
2022	$	2,117	2022	$	176
2023	$	2,009	2023	$	115
Thereafter	$	6,599