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Note 7 - Intangible Assets

3 Months Ended

Mar. 31, 2022

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

	*March 31, 2022*							*December 31, 2021*
			*Accumulated*							*Accumulated*
	*Cost*		*Amortization*			*Balance*		*Cost*		*Amortization*			*Balance*

Customer relationships	$	48,758,977	$	(24,399,908	)	$	24,359,069	$	49,535,976	$	(23,611,856	)	$	25,924,120
Permits, licenses, and lease acquisition costs		11,562,131		(3,676,181	)		7,885,950		11,560,896		(3,413,876	)		8,147,020
Site location		849,347		(264,047	)		585,300		849,347		(250,085	)		599,262
Noncompetition agreements		626,000		(511,866	)		114,134		626,000		(488,134	)		137,866
Technology		1,128,000		(335,661	)		792,339		1,128,000		(311,250	)		816,750
Trade names and trademarks		3,852,200		(646,195	)		3,206,005		3,852,200		(590,575	)		3,261,625
Nonsolicitation agreement		28,000		(28,000	)		-		28,000		(28,000	)		-
Capitalized contract costs		1,018,600		(41,833	)		976,767		1,018,600		(16,717	)		1,001,883
Easements		5,557,486		-			5,557,486		5,463,526		-			5,463,526

Total	$	73,380,741	$	(29,903,691	)	$	43,477,050	$	74,062,545	$	(28,710,493	)	$	45,352,052

Future Amortization

The future amortization associated with the intangible assets is as follows:

	*March 31,*
	*2023*		*2024*		*2025*		*2026*		*2027*		*Thereafter*		*Total*

Customer relationships	$	3,193,399	$	3,193,399	$	3,193,399	$	3,193,399	$	3,190,151	$	8,395,322	$	24,359,069
Permits, licenses, and lease acquisition costs		1,063,793		1,063,793		1,063,793		1,043,647		1,017,039		2,633,885		7,885,950
Site location		56,623		56,623		56,623		56,623		56,623		302,185		585,300
Noncompetition agreements		83,451		29,843		840		-		-		-		114,134
Technology		99,000		99,000		99,000		99,000		99,000		297,339		792,339
Trade names and trademarks		225,567		225,567		225,567		225,567		209,564		2,094,173		3,206,005
Capitalized contract costs		101,860		101,860		101,860		101,860		101,860		467,467		976,767

Total	$	4,823,693	$	4,770,085	$	4,741,082	$	4,720,096	$	4,674,237	$	14,190,371	$	37,919,564

Amortization expense for the three months ended March 31, 2022 and 2021 was $1,193,193 and $1,165,172, respectively.

The weighted average amortization period, in months, for intangible assets is as follows:

Customer relationships
92

Permits, licenses, and lease acquisition costs
89

Site location
124

Noncompetition agreements
15

Technology
96

Trade names and trademarks
171

Capitalized contract costs
115