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INTANGIBLE ASSETS, NET (Tables) | 9 Months Ended
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Sep. 30, 2023
INTANGIBLE ASSETS, NET [Abstract] |
Intangible Assets, Net | Intangible assets, net consisted of the following:
|  | September 30, 2023 |  |  | December 31, 2022 |
|  | (In thousands) |
Tradenames |  | $ | 45,908 |  |  | $ | 43,373 |
Customer and referral relationships, net of accumulated amortization of $28,708 and $23,736, respectively (weighted average amortization period 13.0 years) |  |  | 64,210 |  |  |  | 63,238 |
Non-compete agreements, net of accumulated amortization of $7,449 and $6,999 respectively (weighted average amortization period 6.0 years) |  |  | 1,994 |  |  |  | 2,144 |
|  | $ | 112,112 |  |  | $ | 108,755 |
Amortization Expenses | The following table details the amount of amortization expense recorded for intangible assets for the three and nine months ended September 30, 2023, and 2022:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2023 |  |  | September 30, 2022 |  |  | September 30, 2023 |  |  | September 30, 2022 |
Customer and referral relationships |  | $ | 1,669 |  |  | $ | 1,404 |  |  | $ | 4,972 |  |  | $ | 4,415 |
Non-compete agreements |  |  | 148 |  |  |  | 129 |  |  |  | 450 |  |  |  | 396 |
|  | $ | 1,817 |  |  | $ | 1,533 |  |  | $ | 5,422 |  |  | $ | 4,811 |
Amortization of Customer and Referral Relationships and Non Competition Agreements | Based on the balance of referral relationships and non-compete agreements as of September 30, 2023, the expected amount to be amortized in 2023 and thereafter by year is as follows:
Customer and Referral Relationships |  |  | Non-Compete Agreements |
(In thousands) |
Years |  | Annual Amount |  |  | Years |  |  | Annual Amount |
Ending December 31, |  |  |  |  | Ending December 31, |  |  |  |
2023 (excluding the nine months ended September 30, 2023) |  | $ | 1,780 |  |  | 2023 (excluding the nine months ended September 30, 2023) |  |  | $ | 159 |
2024 |  | $ | 6,983 |  |  | 2024 |  |  | $ | 607 |
2025 |  | $ | 6,839 |  |  | 2025 |  |  | $ | 541 |
2026 |  | $ | 6,371 |  |  | 2026 |  |  | $ | 401 |
2027 |  | $ | 6,207 |  |  | 2027 |  |  | $ | 234 |
Thereafter |  | $ | 36,030 |  |  | 2028 |  |  | $ | 51 |

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