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Note 14 - Industry Segments
 3 Months Ended
Mar. 31, 2023
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, 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

 

Three Months Ended March 31, 2023

 

GIG

  

LMH

  

BOB

  

Unallocated

  

Consolidated

 
                     

Revenue

 $3,973,656  $10,302,223  $8,539,906  $-  $22,815,785 

Segment gross profit

  2,410,624   6,494,559   5,965,555   -   14,870,738 

Segment income (loss) from operations

  229,721   1,332,110   (1,699,366)  (2,839,257)  (2,976,792)

Capital expenditures

  6,125   559,995   7,383,081   62,258   8,011,459 

Depreciation and amortization

  75,597   2,213,430   2,193,130   27,187   4,509,344 

 

                  

Total

 

Three Months Ended March 31, 2022

 

GIG

  

LMH

  

BOB

  

Unallocated

  

Consolidated

 
                     

Revenue

 $3,077,852  $9,138,149  $4,076,946  $-  $16,292,947 

Segment gross profit

  1,896,961   5,610,777   3,166,171   -   10,673,909 

Segment income (loss) from operations

  (194,182)  1,009,980   (423,701)  (2,841,833)  (2,449,736)

Capital expenditures

  105,147   799,241   5,080,919   160,983   6,146,290 

Depreciation and amortization

  54,865   1,993,795   857,567   27,037   2,933,264 

  

 

                   Total 

As of March 31, 2023

 

GIG

  

LMH

  

BOB

  

Unallocated

  

Consolidated

 
                     

Accounts receivable, net

 $2,665,536  $3,415,239  $304,321  $-  $6,385,096 

Goodwill

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

Total assets

  69,701,282   273,927,950   143,355,300   219,371,670   706,356,202 

 

                  

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