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Note 7 - Intangible Assets

9 Months Ended

Sep. 30, 2022

Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consist of the following:

	*September 30, 2022*							*December 31, 2021*
			*Accumulated*							*Accumulated*
	*Cost*		*Amortization*			*Balance*		*Cost*		*Amortization*			*Balance*

Customer relationships	$	66,568,230	$	(26,869,185	)	$	39,699,045	$	49,535,976	$	(23,611,856	)	$	25,924,120
Permits, licenses, and lease acquisition costs		11,574,155		(4,209,786	)		7,364,369		11,560,896		(3,413,876	)		8,147,020
Site location		849,347		(292,436	)		556,911		849,347		(250,085	)		599,262
Noncompetition agreements		626,000		(559,102	)		66,898		626,000		(488,134	)		137,866
Technology		1,128,000		(385,296	)		742,704		1,128,000		(311,250	)		816,750
Trade names and trademarks		11,152,200		(941,455	)		10,210,745		3,852,200		(590,575	)		3,261,625
Nonsolicitation agreement		28,000		(28,000	)		-		28,000		(28,000	)		-
Capitalized contract costs		1,425,850		(99,857	)		1,325,993		1,018,600		(16,717	)		1,001,883
Easements		6,475,001		-			6,475,001		5,463,526		-			5,463,526

Total	$	99,826,783	$	(33,385,117	)	$	66,441,666	$	74,062,545	$	(28,710,493	)	$	45,352,052

Future Amortization

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

	*September 30,*
	*2023*		*2024*		*2025*		*2026*		*2027*		*Thereafter*		*Total*

Customer relationships	$	4,974,324	$	4,974,324	$	4,974,324	$	4,974,324	$	4,954,752	$	14,846,997	$	39,699,045
Permits, licenses, and lease acquisition costs		1,064,996		1,064,996		1,058,344		1,031,361		1,000,574		2,144,098		7,364,369
Site location		56,623		56,623		56,623		56,623		56,623		273,796		556,911
Noncompetition agreements		64,893		2,005		-		-		-		-		66,898
Technology		99,000		99,000		99,000		99,000		99,000		247,704		742,704
Trade names and trademarks		590,567		590,567		590,567		590,567		542,026		7,306,451		10,210,745
Capitalized contract costs		142,585		142,585		142,585		142,585		142,585		613,068		1,325,993

Total	$	6,992,988	$	6,930,100	$	6,921,443	$	6,894,460	$	6,795,560	$	25,432,114	$	59,966,665

Amortization expense for the nine months ended September 30, 2022 and 2021 was $4,674,620 and $3,508,445, respectively.

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

Customer relationships
96

Permits, licenses, and lease acquisition costs
83

Site location
118

Noncompetition agreements
9

Technology
90

Trade names and trademarks
207

Capitalized contract costs
112