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Note 14 - Industry Segments
 3 Months Ended
Mar. 31, 2024
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, SCS and UCS. Revenue consists of surety bond sales and insurance commissions. GIG’s corporate resources are used to support SCS 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 mainly in Arizona, Florida, Nevada, and Utah. 

 

Boston Omaha Asset Management, LLC

 

BOAM conducts our asset management operations. We commenced reporting BOAM as a separate segment based on our acquisition of 24th Street Asset Management on May 1, 2023.  BOAM’s prior segment information has been retroactively restated as a result of meeting the requirements for segment reporting.

 

                      

Total

 

Three Months Ended March 31, 2024

 

GIG

  

LMH

  

BOB

  

BOAM

  

Unallocated

  

Consolidated

 
                         

Revenue

 $5,041,777  $10,696,660  $9,683,429  $130,865  $-  $25,552,731 

Segment gross profit

  3,134,856   6,906,026   7,185,317   130,865   -   17,357,064 

Segment income (loss) from operations

  430,575   1,502,932   (1,650,252)  (766,967)  (1,574,569)  (2,058,281)

Capital expenditures

  10,692   603,258   7,832,138   -   -   8,446,088 

Depreciation and amortization

  83,912   2,240,534   2,986,104   -   27,577   5,338,127 

 

                      

Total

 

Three Months Ended March 31, 2023

 

GIG

  

LMH

  

BOB

  

BOAM

  

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)  (559,956)  (2,279,301)  (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

 

As of March 31, 2024

 

GIG

  

LMH

  

BOB

  

BOAM

  

Unallocated

  

Consolidated

 
                         

Accounts receivable, net

 $6,900,102  $3,945,530  $923,709  $547,108  $-  $12,316,449 

Goodwill

  11,325,138   130,903,950   39,614,422   536,626   -   182,380,136 

Total assets

  66,332,273   264,451,613   187,256,698   100,062,160   139,235,893   757,338,637 

 

                      

Total

 

As of December 31, 2023

 

GIG

  

LMH

  

BOB

  

BOAM

  

Unallocated

  

Consolidated

 
                         

Accounts receivable, net

 $7,124,471  $4,060,259  $689,817  $251,154  $15,543  $12,141,244 

Goodwill

  11,325,138   130,903,950   39,614,422   536,626   -   182,380,136 

Total assets

  71,723,355   267,205,346   183,151,741   100,739,644   145,387,006   768,207,092