Annual report pursuant to Section 13 and 15(d)

GOODWILL AND INTANGIBLE ASSETS, NET

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GOODWILL AND INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
The changes in the carrying amount of goodwill allocated to the origination segment are presented in the following table:
Balance at December 31, 2021 $ 175,144 
Purchase accounting adjustments (1,710)
Acquisition 3,335 
Balance at December 31, 2022 176,769 
Purchase accounting adjustments 758 
Acquisitions 8,654 
Balance at December 31, 2023 $ 186,181 
No impairment charges were recorded during the years ended December 31, 2023 and 2022.
Intangible Assets, Net
The following table presents the Company's intangible assets, net as of December 31, 2023 and 2022:
December 31, 2023
December 31, 2022
  Gross Intangibles Accumulated Amortization Net Intangibles Gross Intangibles Accumulated Amortization Net Intangibles
Referral network $ 42,300  $ 17,625  $ 24,675  $ 42,300  $ 10,575  $ 31,725 
Non-compete agreements 2,700  2,250  450  2,700  1,350  1,350 
  $ 45,000  $ 19,875  $ 25,125  $ 45,000  $ 11,925  $ 33,075 
Amortization expense related to intangible assets was $8.0 million for each of the years ended December 31, 2023 and 2022, respectively.
As of December 31, 2023, expected amortization expense for the unamortized acquired intangible assets is as follows:
Amount
2024 7,500 
2025 7,050 
2026 7,050 
2027 3,525 
$ 25,125