XML 32 R20.htm IDEA: XBRL DOCUMENT
v3.22.2

Note 14 - Industry Segments | 6 Months Ended
--- | ---
Jun. 30, 2022
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 14. I N DUSTRY 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, Nevada, and Utah.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |
Three Months Ended June 30, 2022 |  | GIG |  |  | LMH |  |  | FIF |  |  | Unallocated |  |  | Consolidated |
Revenue |  | $ | 2,991,272 |  |  | $ | 9,825,164 |  |  | $ | 8,078,580 |  |  | $ | - |  |  | $ | 20,895,016 |
Segment gross profit |  |  | 1,990,478 |  |  |  | 6,169,382 |  |  |  | 6,007,768 |  |  |  | - |  |  |  | 14,167,628 |
Segment income (loss) from operations |  |  | 21,011 |  |  |  | 1,335,395 |  |  |  | 87,072 |  |  |  | (2,160,460 | ) |  |  | (716,982 | )
Capital expenditures |  |  | 192,459 |  |  |  | 2,903,119 |  |  |  | 45,217,378 |  |  |  | 238,530 |  |  |  | 48,551,486 |
Depreciation and amortization |  |  | 57,651 |  |  |  | 2,036,350 |  |  |  | 1,615,353 |  |  |  | 27,335 |  |  |  | 3,736,689 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |
Six Months Ended June 30, 2022 |  | GIG |  |  | LMH |  |  | FIF |  |  | Unallocated |  |  | Consolidated |
Revenue |  | $ | 6,069,124 |  |  | $ | 18,963,313 |  |  | $ | 12,155,526 |  |  | $ | - |  |  | $ | 37,187,963 |
Segment gross profit |  |  | 3,887,439 |  |  |  | 11,780,159 |  |  |  | 9,173,939 |  |  |  | - |  |  |  | 24,841,537 |
Segment income (loss) from operations |  |  | (173,171 | ) |  |  | 2,345,375 |  |  |  | (336,629 | ) |  |  | (5,002,293 | ) |  |  | (3,166,718 | )
Capital expenditures |  |  | 297,606 |  |  |  | 3,702,360 |  |  |  | 50,301,564 |  |  |  | 399,513 |  |  |  | 54,701,043 |
Depreciation and amortization |  |  | 112,516 |  |  |  | 4,030,145 |  |  |  | 2,472,920 |  |  |  | 54,372 |  |  |  | 6,669,953 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |
As of June 30, 2022 |  | GIG |  |  | LMH |  |  | FIF |  |  | Unallocated |  |  | Consolidated |
Accounts receivable, net |  | $ | 1,934,642 |  |  | $ | 4,176,453 |  |  | $ | 374,245 |  |  | $ | 488 |  |  | $ | 6,485,828 |
Goodwill |  |  | 11,325,138 |  |  |  | 122,153,319 |  |  |  | 38,235,135 |  |  |  | - |  |  |  | 171,713,592 |
Total assets |  |  | 67,825,015 |  |  |  | 262,975,673 |  |  |  | 127,905,820 |  |  |  | 215,144,550 |  |  |  | 673,851,058 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration