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Note 14 - Industry Segments
 6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

NOTE 14.     INDUSTRY 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, ACS and UCS. SSS clients are multi-state and UCS, SCS, ACS 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, ACS 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, Nevada, Virginia, West Virginia, and Wisconsin.

 

Fiber is Fast, LLC

 

FIF conducts our broadband operations. FIF provides high-speed broadband services to its customers located in Arizona and Utah.

 

                  

Total

 

Three Months Ended June 30, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $2,466,595  $7,952,832  $3,760,454  $-  $14,179,881 

Segment gross profit

  1,593,990   4,879,302   2,906,025   -   9,379,317 

Segment income (loss) from operations

  (432,117)  866,378   488,431   (2,016,164)  (1,093,472)

Capital expenditures

  3,044,246   839,122   3,016,219   550,297   7,449,884 

Depreciation and amortization

  56,115   1,755,935   618,820   25,330   2,456,200 

 

                  

Total

 

Three Months Ended June 30, 2020

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $3,674,450  $6,654,032  $1,164,082  $-  $11,492,564 

Segment gross profit

  1,569,532   3,912,680   989,846   -   6,472,058 

Segment income (loss) from operations

  (184,734)  (118,493)  331,425   (893,507)  (865,309)

Capital expenditures

  -   117,851   1,139,482   -   1,257,333 

Depreciation and amortization

  142,250   1,648,509   172,450   -   1,963,209 

 

                  

Total

 

Six Months Ended June 30, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $4,722,892  $15,106,517  $7,555,491  $-  $27,384,900 

Segment gross profit

  2,721,077   9,171,240   5,944,849   -   17,837,166 

Segment income (loss) from operations

  (1,219,604)  972,427   1,265,857   (3,597,930)  (2,579,250)

Capital expenditures

  3,044,246   7,402,639   5,056,409   673,356   16,176,650 

Depreciation and amortization

  96,493   3,452,963   1,178,575   40,145   4,768,176 

 

                  

Total

 

Six Months Ended June 30, 2020

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $7,601,613  $13,869,798  $1,431,333  $-  $22,902,744 

Segment gross profit

  3,992,833   8,177,892   1,181,674   -   13,352,399 

Segment income (loss) from operations

  115,652   (46,375)  396,835   (2,511,393)  (2,045,281)

Capital expenditures

  -   2,715,381   14,818,910   -   17,534,291 

Depreciation and amortization

  284,196   3,289,894   172,450   -   3,746,540 

 

 

                  

Total

 

As of June 30, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Accounts receivable, net

 $2,464,780  $2,882,508  $225,244  $-  $5,572,532 

Goodwill

  11,058,922   100,363,666   18,154,158   -   129,576,746 

Total assets

  58,069,791   225,704,835   68,605,213   464,792,471   817,172,310 

 

                  

Total

 

As of December 31, 2020

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Accounts receivable, net

 $1,160,424  $2,633,711  $247,428  $-  $4,041,563 

Goodwill

  8,719,294   97,572,994   18,154,158      124,446,446 

Total assets

  54,536,523   219,607,150   48,496,371   318,067,382   640,707,426