The Joint Corp. Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

The tables below present financial information for the Company’s two operating business segments.


	Year Ended December 31,
	2020		2019
Revenues:
Corporate clinics	$	31,771,288	$	25,807,584
Franchise operations	26,911,688		22,643,316
Total revenues	$	58,682,976	$	48,450,900

Segment operating income:
Corporate clinics	$	4,508,990	$	3,365,295
Franchise operations	12,561,278		10,974,769
Total segment operating income	$	17,070,268	$	14,340,064

Depreciation and amortization:
Corporate clinics	$	2,503,181	$	1,707,575
Franchise operations	—		—
Corporate administration	231,281		191,682
Total depreciation and amortization	$	2,734,462	$	1,899,257

Reconciliation of total segment operating income to consolidated earnings before income taxes:
Total segment operating income	$	17,070,268	$	14,340,064
Unallocated corporate	(11,578,138)		(10,925,429)
Consolidated income from operations	5,492,130		3,414,635
Bargain purchase gain	—		19,298
Other (expense), net	(79,478)		(61,515)
Income before income tax expense	$	5,412,652	$	3,372,418


	December 31, 2020		December 31, 2019
Segment assets:
Corporate clinics	$	24,928,311	$	25,389,147
Franchise operations	9,744,375		7,466,629
Total segment assets	$	34,672,686	$	32,855,776

Unallocated cash and cash equivalents and restricted cash	$	20,819,629	$	8,641,877
Unallocated property and equipment	1,063,815		996,385
Other unallocated assets	9,176,713		1,211,629
Total assets	$	65,732,843	$	43,705,667