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INTANGIBLE ASSETS, NET | 6 Months Ended
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Jun. 30, 2020
INTANGIBLE ASSETS, NET [Abstract] |
INTANGIBLE ASSETS, NET | 8. INTANGIBLE ASSETS, NET Intangible assets, net as of June 30, 2020 and December 31, 2019 consisted of the following (in thousands):
|  | June 30, 2020 |  |  | December 31, 2019 |
Tradenames |  | $ | 31,490 |  |  | $ | 32,049 |
Referral relationships, net of accumulated amortization of $13,126 and $11,677, respectively |  |  | 21,517 |  |  |  | 18,367 |
Non-compete agreements, net of accumulated amortization of $5,687 and $5,424, respectively |  |  | 1,888 |  |  |  | 2,172 |
|  | $ | 54,895 |  |  | $ | 52,588 |
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 and six months ended June 30, 2020 and 2019 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2020 |  |  | June 30, 2019 |  |  | June 30, 2020 |  |  | June 30, 2019 |
Referral relationships |  | $ | 836 |  |  | $ | 581 |  |  | $ | 1,449 |  |  | $ | 1,114 |
Non-compete agreements |  |  | 87 |  |  |  | 169 |  |  |  | 264 |  |  |  | 338 |
|  | $ | 923 |  |  | $ | 750 |  |  | $ | 1,713 |  |  | $ | 1,452 |
Based on the balance of referral relationships and non-compete agreements as of June 30, 2020, the expected amount to be amortized in 2020 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, |  |  |
2020 (excluding the six months ended June 30, 2020) | $ | 1,369 |  | 2020 (excluding the six months ended June 30, 2020) | $ | 300 |
2021 | $ | 2,737 |  | 2021 | $ | 552 |
2022 | $ | 2,689 |  | 2022 | $ | 375 |
2023 | $ | 2,581 |  | 2023 | $ | 305 |
2024 | $ | 2,417 |  | 2024 | $ | 250 |
Thereafter | $ | 9,724 |  | Thereafter | $ | 193 |

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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