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Note 14 - Industry Segments
 6 Months Ended
Jun. 30, 2022
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, 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