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Note 14 - Industry Segments

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 1 4 . I N DUSTRY SEGMENTS

This summary presents our current segments, as described below.

General Indemnity Group, LLC

GIG conducts our insurance operations through its subsidiaries, Warnock, SSS, SCS, UCS, GIDIS, and GIIC. UCS and SSS clients are multi-state and SCS and Warnock clients are nationwide. Revenue consists of surety bond sales and insurance commissions. Currently, GIG’s corporate resources are used to support Warnock, SSS, SCS, UCS, GIDIS, and GIIC and to make additional business acquisitions in the insurance industry.

Link Media Holdings, LLC

LMH conducts our billboard rental operations. LMH advertisers are located in Alabama, Florida, Georgia, Illinois, Iowa, Kansas, Missouri, Nebraska, Virginia, West Virginia, and Wisconsin.

														Total
Year Ended December 31, 2018		GIG				LMH				Unallocated				Consolidated
Revenue		$	5,956,261			$	14,065,132			$	-			$	20,021,393
Segment gross profit			4,006,640				8,426,102				-				12,432,742
Segment loss from operations			(4,700,272	)			(4,075,477	)			(3,481,792	)			(12,257,541	)
Capital expenditures			56,051				141,793,310				-				141,849,361
Depreciation and amortization			1,271,134				6,804,931				-				8,076,065

														Total
Year Ended December 31, 2017		GIG				LMH				Unallocated				Consolidated
Revenue		$	3,748,599			$	5,265,746			$	-			$	9,014,345
Segment gross profit			3,008,942				2,575,208				-				5,584,150
Segment loss from operations			(2,654,735	)			(2,445,873	)			(1,672,324	)			(6,772,932	)
Capital expenditures			2,188,010				12,809,322				-				14,997,332
Depreciation and amortization			935,496				2,418,430				-				3,353,926

As of December 31, 2018		GIG				LMH				Unallocated				Total Consolidated
Accounts receivable, net		$	1,075,399			$	3,389,045			$	-			$	4,464,444
Goodwill			8,719,294				89,966,501				-				98,685,795
Total assets			36,396,939				175,082,989				120,714,593				332,194,521

														Total
As of December 31, 2017		GIG				LMH				Unallocated				Consolidated
Accounts receivable, net		$	433,225			$	662,552			$	-			$	1,095,777
Goodwill			8,719,294				15,972,867				-				24,692,161
Total assets			25,762,437				32,443,777				95,270,870				153,477,084

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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