Intangibles, Net

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles, Net

INTANGIBLES, NET

As of September 30, 2021, the Company’s total intangibles, net consisted of the following:

(in thousands)		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangibles:
Trade names	$	1,409	$	(747)	$	662
Brand		183,217		(6,286)		176,931
Non-compete		75,626		(8,270)		67,356
Customer relationships		880		(171)		709
Payor relationships		609,322		(25,057)		584,265
Provider relationships		12,242		(1,573)		10,669
Total intangibles, net	$	882,696	$	(42,104)	$	840,592

As of December 31, 2020, the Company’s total intangibles, net consisted of the following:

(in thousands)		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangibles:
Trade names	$	1,409	$	(630)	$	779
Brand		29,486		(2,171)		27,315
Non-compete		7,733		(3,373)		4,360
Customer relationships		880		(135)		745
Payor relationships		201,530		(11,960)		189,570
Provider relationships		4,119		(533)		3,586
Total intangibles, net	$	245,157	$	(18,802)	$	226,355

The Company recorded amortization expense of $14.2 million and $3.6 million for the three months ended September 30, 2021 and 2020, respectively, and $23.3 million and $8.2 million for the nine months ended September 30, 2021 and 2020, respectively.

Expected amortization expense for the Company’s existing amortizable intangibles for the next five years, and thereafter, as of September 30, 2021 is as follows:

Year ending December 31,		Amount (in thousands)
Remainder of 2021	$	15,075
2022		59,423
2023		57,585
2024		55,644
2025		54,218
Thereafter		598,647
Total	$	840,592