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Intangible Assets, Net (Tables) | 9 Months Ended
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Sep. 30, 2024
Intangible Assets, Net [Abstract] |
Intangible Assets, Net | The Company’s intangible assets, net, consisted of the following:
|  | As of September 30, 2024 |  |  | As of December 31, 2023 |
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
|  | (In thousands) |
Customer and referral relationships |  | $ | 110,452 |  |  | $ | (36,275 | ) |  | $ | 74,177 |  |  | $ | 93,658 |  |  | $ | (30,414 | ) |  | $ | 63,244 |
Tradenames |  |  | 47,940 |  |  |  | - |  |  |  | 47,940 |  |  |  | 44,573 |  |  |  | - |  |  |  | 44,573 |
Non-compete agreements |  |  | 10,335 |  |  |  | (8,143 | ) |  |  | 2,192 |  |  |  | 9,459 |  |  |  | (7,594 | ) |  |  | 1,865 |
|  | $ | 168,727 |  |  | $ | (44,418 | ) |  | $ | 124,309 |  |  | $ | 147,690 |  |  | $ | (38,008 | ) |  | $ | 109,682 |
Amortization Expenses | The following table details the amount of amortization expense recorded for intangible assets for the periods presented:
|  | For the Three Months Ended |  |  | For the Nine Months Ended |
|  | September 30, 2024 |  |  | September 30, 2023 |  |  | September 30, 2024 |  |  | September 30, 2023 |
|  | (In thousands) |
Customer and referral relationships |  | $ | 1,977 |  |  | $ | 1,669 |  |  | $ | 5,861 |  |  | $ | 4,972 |
Non-compete agreements |  |  | 183 |  |  |  | 148 |  |  |  | 537 |  |  |  | 450 |
|  | $ | 2,160 |  |  | $ | 1,817 |  |  | $ | 6,398 |  |  | $ | 5,422 |
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, 2024, the expected amount to be amortized in 2024 and thereafter by year is as follows:
For the Year Ending December 31, |  | Customer and Referral Relationships |  |  | Non-Compete Agreements |
|  | (In thousands) |
2024 (excluding the nine months ended September 30, 2024) |  | $ | 2,039 |  |  | $ | 185 |
2025 |  |  | 8,136 |  |  |  | 697 |
2026 |  |  | 7,670 |  |  |  | 557 |
2027 |  |  | 7,506 |  |  |  | 396 |
2028 |  |  | 7,237 |  |  |  | 267 |
Thereafter |  |  | 41,589 |  |  |  | 90 |
Total |  | $ | 74,177 |  |  | $ | 2,192 |

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