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Note 12 - Asset Retirement Obligations

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Asset Retirement Obligation Disclosure [Text Block]

NOTE 12. ASSET RETIREMENT OBLIGATIONS

Our asset retirement obligations include the costs associated with the removal of structures, resurfacing of the land and retirement cost, if applicable, related to our outdoor advertising and broadband assets. The following table reflects information related to our asset retirement obligations: 

Balance, January 1, 2019			1,824,419
Additions			85,294
Accretion expense			134,992
Liabilities settled			-
Balance, December 31, 2019		$	2,044,705
Additions			96,864
Accretion expense			140,704
Liabilities settled			-
Balance, December 31, 2020		$	2,282,273

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- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 410
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=2175671

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- References

No definition available.

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