6. INTANGIBLE ASSETS, NET

Intangible assets, net as of September 30, 2017 and December 31, 2016 consisted of the following (in thousands):

	September 30, 2017		December 31, 2016
Tradenames	$	26,352	$	21,234
Referral relationships, net of accumulated amortization of $6,741 and $5,275, respectively		18,092		14,859
Non-compete agreements, net of accumulated amortization of $4,012 and $3,380, respectively		3,124		1,967
	$	47,568	$	38,060

Tradenames, referral relationships and non-compete agreements are related to the businesses acquired. Typically, 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 16 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 and nine months ended September 30, 2017 and 2016 (in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Tradenames	$	-	$	20	$	-	$	62
Referral relationships		527		352		1,466		1,027
Non-compete agreements		231		148		632		429
	$	758	$	520	$	2,098	$	1,518

Based on the balance of referral relationships and non-compete agreements as of September 30, 2017, the expected amount to be amortized in 2017 and thereafter by year is as follows (in thousands):

Referral Relationships		Non-Compete Agreements
Years	Annual Amount	Years	Annual Amount

2017	1,993	2017	860
2018	2,063	2018	883
2019	1,973	2019	810
2020	1,973	2020	597
2021	1,973	2021	519
Thereafter	9,577	Thereafter	88