FINANCIAL RESULTS
Albanese Cormier Holdings, LLC and Subsidiaries CONSOLIDATED STATEMENTS OF INCOME Years Ended December 31, 2025 and 2024
2025
2024
Income: Lease income, net
$ 56,033,292
$ 56,056,900
Lease income-contingent Lease income-termination fee Lease income-straight line rent Sales-residential real estate Tenant expense reimbursement
277,896 35,087 111,398 171,600
330,376 80,896
(396,714) 772,200
15,567,088
16,933,271
Administrative income
64,865 56,228
209,207 61,549
Income from Investment in Vidor Crossroads, LLC
Total income
72,317,454
74,047,685
General and administrative expenses
28,235,739
29,173,870
Operating Income
44,081,715
44,873,815
Other income (expense): Depreciation and amortization expense
(19,037,056) (2,836,631) (22,429,435) 15,662,751 (931,527) 1,574,429 (1,562,252)
(19,646,659) (2,917,370) (22,806,416) 28,263,758 (3,108,693)
Depreciation from basis step up
Interest expense
Gain or (Loss) on disposal of assets
Gain or (Loss) on disposal of assets - basis step up
Interest and dividend income Income or (Loss) from securities
941,603 (191,310) 253,538
Miscellaneous income
114,607
Total other income (expense)
(29,445,114)
(19,211,549)
Income before provision for income tax
14,636,601
25,662,266
Provision for state income tax
569,946
37,500
Net Income
14,066,655
25,624,766
Noncontrolling interest in net income Controlling interest in net income
543,973
485,802
$ 13,522,682
$ 25,138,964
The accompanying notes are an integral part of these consolidated financial statements. 3
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