U S PHYSICAL THERAPY INC /NV - 10-K filing on 2017-06-07

Intangible Assets, net (Tables)

12 Months Ended

Dec. 31, 2016

Intangible assets, net as of December 31, 2016 and 2015 consisted of the following (in thousands):

	December 31, 2016		December 31, 2015
Tradenames, net of accumulated amortization of $0 and $170, respectively	$	21,234	$	17,660
Referral relationships, net of accumulated amortization of $5,275 and $3,763, respectively		14,859		10,866
Non-compete agreements, net of accumulated amortization of $3,380 and $2,855, respectively		1,967		1,770
	$	38,060	$	30,296

Amortization Expenses

The following table details the amount of amortization expense recorded for intangible assets for the years ended December 31, 2016, 2015 and 2014 (in thousands):

	Year Ended		Year Ended		Year Ended
	December 31, 2016		December 31, 2015		December 31, 2014
Tradenames	$	330	$	84	$	86
Referral relationships		1,512		1,153		1,028
Non-compete agreements		525		478		427
	$	2,367	$	1,715	$	1,541

Amortization of Referral Relationships and Non Competition Agreements

The remaining balances of the referral relationships and non-compete agreements is expected to be amortized as follows (in thousands):

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

2017		1,682		2017		581
2018		1,636		2018		525
2019		1,547		2019		452
2020		1,547		2020		239
2021		1,547		2021		162
2022		1,498		2022		8
2023		1,391
2024		1,272
2025		1,166
2026		704
2027		544
2028		281
2029		44