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Note 14 - Industry Segments
 9 Months Ended
Sep. 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 billboards 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, Florida and Utah.

 

                  

Total

 

Three Months Ended September 30, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $2,701,353  $8,023,065  $3,773,729  $-  $14,498,147 

Segment gross profit

  1,671,777   5,030,814   3,031,647   -   9,734,238 

Segment income (loss) from operations

  (358,963)  973,146   54,240   (3,429,421)  (2,760,998)

Capital expenditures

  -   374,419   2,147,334   2,239,461   4,761,214 

Depreciation and amortization

  54,865   1,771,135   953,437   27,283   2,806,720 

 

                  

Total

 

Three Months Ended September 30, 2020

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $3,340,536  $7,121,957  $1,144,343  $-  $11,606,836 

Segment gross profit

  1,582,085   4,341,598   1,014,929   -   6,938,612 

Segment income (loss) from operations

  (100,811)  323,815   26,600   (970,227)  (720,623)

Capital expenditures

  -   604,990   1,400,310   160,215   2,165,515 

Depreciation and amortization

  129,497   1,671,045   209,935   -   2,010,477 

 

                  

Total

 

Nine Months Ended September 30, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $7,424,245  $23,129,582  $11,329,220  $-  $41,883,047 

Segment gross profit

  4,392,854   14,202,054   8,976,496   -   27,571,404 

Segment income (loss) from operations

  (1,578,567)  1,945,573   1,320,097   (7,027,351)  (5,340,248)

Capital expenditures

  3,044,246   7,777,058   7,203,743   2,912,817   20,937,864 

Depreciation and amortization

  151,358   5,224,098   2,132,012   67,428   7,574,896 

 

                  

Total

 

Nine Months Ended September 30, 2020

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $10,942,149  $20,991,755  $2,575,676  $-  $34,509,580 

Segment gross profit

  5,574,918   12,519,490   2,196,603   -   20,291,011 

Segment income (loss) from operations

  14,841   277,440   423,435   (3,481,620)  (2,765,904)

Capital expenditures

  -   3,760,171   16,252,283   160,215   20,172,669 

Depreciation and amortization

  413,693   4,960,939   382,385   -   5,757,017 

 

 

                  

Total

 

As of September 30, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Accounts receivable, net

 $1,597,855  $2,621,865  $258,471  $-  $4,478,191 

Goodwill

  11,058,922   100,363,666   17,935,158   -   129,357,746 

Total assets

  56,115,005   226,389,587   69,209,029   429,659,606   781,373,227 

 

                  

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