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Note 15 - Industry Segments
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

NOTE 15.

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, Arkansas, Florida, Georgia, Illinois, Iowa, Kansas, Missouri, Nebraska, Nevada, Oklahoma, 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

 

Year Ended December 31, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Revenue

 $10,238,310  $31,499,235  $15,234,266  $-  $56,971,811 

Segment gross profit

  7,055,813   19,404,401   11,920,506   -   38,380,720 

Segment (loss) income from operations

  (778,703)  2,744,468   391,356   (26,123,990)  (23,766,869)

Capital expenditures

  3,167,342   42,871,326   12,517,328   7,254,134   65,810,130 

Depreciation and amortization

  206,223   7,013,578   2,813,901   94,932   10,128,634 

 

                  

Total

 

Year Ended December 31, 2020

 GIG  LMH  FIF  Unallocated  Consolidated 
                     

Revenue

 $13,645,962  $28,260,964  $3,836,537  $-  $45,743,463 

Segment gross profit

  6,955,759   16,988,615   3,290,431   -   27,234,805 

Segment (loss) income from operations

  (197,377)  607,542   388,960   (5,794,032)  (4,994,907)

Capital expenditures

  -   4,354,770   43,806,659   734,749   48,896,178 

Depreciation and amortization

  484,495   6,636,205   571,003   -   7,691,703 

 

                  

Total

 

As of December 31, 2021

 

GIG

  

LMH

  

FIF

  

Unallocated

  

Consolidated

 
                     

Accounts receivable, net

 $1,495,664  $2,770,428  $202,771  $-  $4,468,863 

Goodwill

  11,058,922   120,642,896   19,635,158      151,336,976 

Total assets

  57,150,042   276,266,829   69,113,699   404,523,223   807,053,793 

 

                  

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