7. INTANGIBLE ASSETS, NET

Intangible assets, net as of March 31, 2019 and December 31, 2018 consisted of the following (in thousands):

	March 31, 2019		December 31, 2018
Tradenames	$	30,256	$	30,256
Referral relationships, net of accumulated amortization of $9,903 and $$9,370, respectively		16,361		16,895
Non-compete agreements, net of accumulated amortization of $4,885 and $4,716, respectively		1,508		1,677
	$	48,125	$	48,828

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 six 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 months ended March 31, 2019 and 2018 (in thousands):

	Three Months Ended		Three Months Ended
	March 31, 2019		March 31, 2018
Referral relationships	$	533	$	520
Non-compete agreements		169		197
	$	702	$	717

Based on the balance of referral relationships and non-compete agreements as of March 31, 2019, the expected amount to be amortized in 2019 and thereafter by year is as follows (in thousands):

Referral Relationships			Non-Compete Agreements
Years Ending December 31,	Annual Amount		Years Ending December 31,		Annual Amount
2019	$	2,132		2019	$	632
2020	$	2,132		2020	$	418
2021	$	2,132		2021	$	340
2022	$	2,084		2022	$	163
2023	$	1,977		2023	$	94
2024	$	1,791		2024	$	30
Thereafter	$	4,646