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Note 15 - Industry Segments

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 15 . 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 and UCS. SSS clients are multi-state and UCS, 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 and UCS 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, 2019		GIG				LMH				Unallocated				Consolidated
Revenue		$	12,959,971			$	28,429,167			$	-			$	41,389,138
Segment gross profit			6,669,753				17,108,018				-				23,777,771
Segment loss from operations			(2,216,421	)			(5,765,105	)			(4,430,570	)			(12,412,096	)
Capital expenditures			46,868				11,728,650				-				11,775,518
Depreciation and amortization			1,179,450				12,394,691				-				13,574,141

														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
As of December 31, 2019		GIG				LMH				Unallocated				Consolidated
Accounts receivable, net		$	1,213,823			$	2,976,720			$	-			$	4,190,543
Goodwill			8,719,294				97,553,207				-				106,272,501
Total assets			45,956,410				224,258,311				166,693,489				436,908,210

														Total
As of December 31, 2018		GIG				LMH				Unallocated				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

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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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