8. Intangible Assets, net

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

	December 31, 2018		December 31, 2017
Tradenames	$	30,256	$	29,673
Referral relationships, net of accumulated amortization of $9,370 and $7,209, respectively		16,895		16,811
Non-compete agreements, net of accumulated amortization of $4,716 and $4,100, respectively		1,677		2,470
	$	48,828	$	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 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, 2018, 2017 and 2016 (in thousands):

	Year Ended		Year Ended		Year Ended
	December 31, 2018		December 31, 2017		December 31, 2016
Tradenames	$	-	$	-	$	330
Referral relationships		2,161		1,934		1,512
Non-compete agreements		616		720		525
	$	2,777	$	2,654	$	2,367

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 Ending December 31,	Annual Amount		Years Ending December 31,		Annual Amount

2019	$	2,133		2019	$	632
2020	$	2,133		2020	$	418
2021	$	2,133		2021	$	340
2022	$	2,084		2022	$	163
2023	$	1,977		2023	$	94
2024	$	1,791		2024	$	30
Thereafter	$	4,644