FINANCIAL RESULTS
Albanese Cormier Holdings, LLC and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years ended December 31, 2025 and 2024
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Summary of Significant Accounting Policies, continued Level 3 – Valuations for assets and liabilities that are derived from other valuation methodologies, including pricing models, discounted cash flow models and similar techniques, and are not based on market exchange, dealer, or broker-traded transactions. Level 3 valuations incorporate certain assumptions and projections that are not observable in the market and also incorporate significant professional judgment in determining the fair value assigned to such assets or liabilities. The Company currently has no assets or liabilities valued using Level 3 inputs. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Acquisition of Member’s Interest On January 1, 2019 (Acquisition Date), the Company bought out a controlling member’s interest of 50% for $35 million. The buyout amount includes a long term note of $20 million payable over 35 years, a one-time cash payment of $15 million, and release from substantially all personal guarantees of Company debt. On April 1, 2024 (Acquisition Date), the Company bought out Shaver Family Partners LTD noncontrolling member’s interest of 25% of ACS Holdings LLC for $25 million. The buyout amount includes a one-time cash payment of $12 million, $8 million forgiveness of indebtedness in cancellation of Promissory Note, and a long term note of $5 million payable over 5 years. Contribution of Albanese Investment Group, LLC After the redemption in Note 1 – Acquisition of Member’s Interest, the Company accepted a capital contribution in January 2018 of Albanese Investment group consisting of real estate and cash having a net book value of $21,175,987 and $6,566,715 respectively and the corresponding loans associated with the realty of $30,383,809. The contribution was allocated equally to the two remaining partners.
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