v3.25.4

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets:
Real estate	$ 602,431	$ 557,388
Cash and cash equivalents	14,180	19,918
Restricted cash	15,233	20,557
Short-term investments	74,964	79,800
Notes receivable (including $67,349 and $71,365 at December 31, 2025 and 2024, respectively, from related parties)	142,439	138,349
Investment in unconsolidated joint ventures	1,270	10,246
Receivable from related parties	103,558	97,544
Other assets (including $1,475 and $1,855 at December 31, 2025 and 2024, respectively, from related parties)	143,250	109,000
Total assets	1,097,325	1,032,802
Liabilities:
Mortgages and other notes payable	214,367	185,398
Accounts payable and other liabilities (including $30 and $601 at December 31, 2025 and 2024, respectively, to related parties)	49,629	32,105
Accrued interest	3,811	3,238
Deferred revenue	9,791	9,791
Total liabilities	277,598	230,532
Equity:
Preferred stock, Series A, $2.00 par value, 15,000,000 shares authorized, 900,614 shares issued and outstanding	1,801	1,801
Common stock, $0.01 par value, 100,000,000 shares authorized; 16,152,043 shares issued and outstanding	162	162
Additional paid-in capital	61,039	61,161
Retained earnings	554,402	538,699
Total shareholders’ equity	617,404	601,823
Noncontrolling interest	202,323	200,447
Total equity	819,727	802,270
Total liabilities and equity	$ 1,097,325	$ 1,032,802

Amount of liabilities incurred and payable to vendors for goods and services received, and accrued liabilities classified as other.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(10)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

AMERICAN REALTY INVESTORS INC 10-K