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Note 15 - Industry Segments
 12 Months Ended
Dec. 31, 2022
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, South Dakota, Tennessee, Virginia, West Virginia and Wisconsin.

 

Boston Omaha Broadband, LLC

 

BOB conducts our broadband operations. BOB provides high-speed broadband services to its customers located in Arizona, Florida, Nevada, and Utah. 

 

                  

Total

 

Year Ended December 31, 2022

 

GIG

  

LMH

  

BOB

  

Unallocated

  

Consolidated

 
                     

Revenue

 $13,362,197  $39,244,726  $28,627,271  $-  $81,234,194 

Segment gross profit

  8,606,614   24,849,099   21,088,770   -   54,544,483 

Segment income (loss) from operations

  1,083,247   5,734,917   (2,241,926)  (9,806,133)  (5,229,895)

Capital expenditures

  352,461   20,578,522   66,848,567   7,289,148   95,068,698 

Depreciation and amortization

  270,269   8,255,727   6,487,960   109,901   15,123,857 

 

                  

Total

 

Year Ended December 31, 2021

 GIG  LMH  BOB  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

 

As of December 31, 2022

 

GIG

  

LMH

  

BOB

  

Unallocated

  

Consolidated

 
                     

Accounts receivable, net

 $1,707,716  $3,696,906  $426,256  $488  $5,831,366 

Goodwill

  11,325,138   130,428,222   37,710,162      179,463,522 

Total assets

  68,712,781   277,153,407   138,800,411   199,051,260   683,717,859 

 

                  

Total

 

As of December 31, 2021

 GIG  LMH  BOB  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 

 

BOSTON OMAHA CORPORATION

and SUBSIDIARIES

 

Notes to Consolidated Financial Statements

 

For the Years Ended  December 31, 2022 and 2021