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Note 7 - Intangible Assets

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

NOTE 7.

INTANGIBLE ASSETS

Intangible assets consist of the following:

		*December 31, 2024*												*December 31, 2023*
						*Accumulated*												*Accumulated*
		*Cost*				*Amortization*				*Balance*				*Cost*				*Amortization*				*Balance*

Customer relationships		$	72,028,493			$	(38,854,986	)		$	33,173,507			$	72,028,493			$	(33,426,898	)		$	38,601,595
Permits, licenses, and lease acquisition costs			11,926,773				(6,656,353	)			5,270,420				11,793,354				(5,562,205	)			6,231,149
Site location			849,347				(419,955	)			429,392				849,347				(363,332	)			486,015
Noncompetition agreements			626,000				(626,000	)			-				626,000				(624,600	)			1,400
Technology			1,128,000				(608,250	)			519,750				1,128,000				(509,250	)			618,750
Trade names and trademarks			11,152,200				(2,271,025	)			8,881,175				11,152,200				(1,680,459	)			9,471,741
Nonsolicitation agreement			353,000				(176,611	)			176,389				103,000				(40,500	)			62,500
Capitalized contract costs			2,800,576				(624,175	)			2,176,401				2,974,125				(387,990	)			2,586,135
Indefinite lived intangibles			7,705,591				-				7,705,591				7,473,016				-				7,473,016

Total		$	108,569,980			$	(50,237,355	)		$	58,332,625			$	108,127,535			$	(42,595,234	)		$	65,532,301

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

		*December 31,*
		*2025*				*2026*				*2027*				*2028*				*2029*				*Thereafter*				*Total*

Customer relationships		$	5,428,084			$	5,428,084			$	5,398,077			$	4,719,106			$	3,364,583			$	8,835,573			$	33,173,507
Permits, licenses and lease acquisition costs			1,087,249				1,060,760				1,027,373				764,887				255,686				1,074,465				5,270,420
Site location			56,623				56,623				56,623				56,623				56,623				146,277				429,392
Noncompetition agreements			-				-				-				-				-				-				-
Technology			99,000				99,000				99,000				99,000				99,000				24,750				519,750
Trade names and trademarks			590,567				590,567				525,667				525,667				525,667				6,123,040				8,881,175
Nonsolicitation agreement			163,889				12,500				-				-				-				-				176,389
Capitalized contract costs			280,058				280,058				280,058				280,058				280,058				776,111				2,176,401

Total		$	7,705,470			$	7,527,592			$	7,386,798			$	6,445,341			$	4,581,617			$	16,980,216			$	50,627,034

Amortization expense for the years ended December 31, 2024 and 2023 was $7,683,952 and $7,409,939, respectively.

Future Amortization

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

Customer relationships			73
Permits, licenses, and lease acquisition costs			58
Site location			91
Noncompetition agreements			12
Technology			63
Trade names and trademarks			180
Nonsolicitation agreement			18
Capitalized contract costs			93

BOSTON OMAHA CORPORATION
and SUBSIDIARIES

Notes to Consolidated Financial Statements

For the Years Ended December 31, 2024 and 2023