FINANCIAL RESULTS
Albanese Cormier Holdings, LLC and Subsidiaries CONSOLIDATED STATEMENTS OF CASH FLOWS Years ended December 31, 2025 and 2024
2025
2024
Cash flows from operating activities Net income
$ 14,066,655
$ 25,624,766
Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization Amortization of intangible to rental income
21,873,687
22,564,029
(37,085)
44,042
Loss (gain) on sale of assets
(14,731,224)
(25,155,065)
Loss (gain) on sale of available for sale securities Equity in (earnings) losses from investments Distributions of income from investments Changes in operating assets and liabilities: Accounts and notes receivable, net
1,562,252
191,310 (61,549)
(56,228)
46,372
47,441
473,214
1,880,220
Deferred rent receivable
(111,398)
396,714 742,690 88,083
Inventory - property held for sale Prepaid expenses and other assets
169,284 135,808
Accrued liabilities
11,613,864
(229,260)
Tenant security deposits
545,291
101,412 610,067
Total adjustments
21,483,837
Net cash provided (required) by operating activities
35,550,492
26,234,833
Cash flows from investing activities: Capital expenditures
(202,647,637) 36,647,466 (29,193,406) 23,611,472 (14,746,330)
(80,150,243) 72,579,640 (15,091,360) 6,448,180 (4,243,028) 2,697,486 (17,759,325)
Proceeds from sale of property
Purchase of available for sale securities
Proceeds from sale of available for sale securities
Additions to intangible assets Additions to intangible liabilities
9,593,930
Net cash provided (required) by investing activities
(176,734,505)
Cash flows from financing activities: Principal advances on long-term debt Principal payments on long-term debt
265,030,104 (100,444,007)
116,568,676 (95,939,002)
Member contributions M ember distributions
-
8,000,000
(24,507,280) 140,078,817
(34,555,170) (5,925,496)
Net cash provided (required) by financing activities
Net increase (decrease) in cash and cash equivalents
(1,105,196)
2,550,012
Cash and cash equivalents, beginning of period
11,328,654
8,778,642
Cash and cash equivalents, end of period
$ 10,223,458
$ 11,328,654
Supplemental Disclosure of Cash Flow Information: Cash paid for interest
$ 22,615,664
$ 22,979,354
State income tax paid
1,418,435
157,983
Property purchased through long-term debt
199,950,000
62,450,000
5
72
Made with FlippingBook - Share PDF online