Intangible Assets, net

6 Months Ended

Jun. 30, 2014

4. Intangible Assets, net

The following presents a summary of intangible assets, net, as of June 30, 2014 and December 31, 2013:

	June 30, 2014			December 31, 2013
	(Unaudited)
Covenant not to compete	$	933		$	933
Trade names and trademarks	9,820			9,820
Proprietary know how	34,650			34,650
Management contract rights	81,000			81,000
Accumulated amortization	(27,778		)	(20,181		)
Intangible assets, net	$	98,625		$	106,222

Amortization expense related to intangible assets included in depreciation and amortization was $3,796 and $5,020 for the three months ended June 30, 2014 and 2013, respectively, and $7,597 and $8,975 for the six months ended June 30, 2014 and 2013, respectively.