LDB/ DRB
TAX SUMMARY & BRH CASH FLOW
FY 2013 - 2016 FY 2015 FY 2015 FY 2016 FY 2016
W/ PHAIDON W/ PHAIDON
TAX SUMMARY
ORDINARY INCOME
BRH 31,290,000 31,290,000 69,844,000 69,844,000
TM 8,126,000 8,126,000
APOLLO 2,364,000 2,364,000 2,000,000 2,000,000
FORMER APOLLO/ OTHER 7,006,000 7,006,000 3,500,000 3,500,000
TOTAL ORDINARY 48,786,000 48,786,000 75,344,000 75,344,000
SHORT TERM CAP GAIN
BRH (124,000) (124,000)
APOLLO (1,543,000) (1,543,000)
NON/ FORMER APOLLO 1,171,000 1,171,000
TOTAL STCG (496,000) (496,000) •
QUAL DIVIDENDS (20%)
BRH 3,719,000 3,719,000 2,000,000 2,000,000
APOLLO 17,000 17,000
FORMER APOLLO/ OTHER 300,000 300,000 315,000 315,000
TOTAL QDI 4,036,000 4,036,000 2,315,000 2,315,000
LT CAP GAIN (20%)
BRH 38,190,000 38,190,000 29,193,000 29,193,000
TRA 9,415,000 9,415,000
APOLLO 3,135,000 3,135,000 4,000,000 4,000,000
FORMER APOLLO/ OTHER 3,506,000 3,506,000 4,000,000 4,000,000
PHAIDON (51%/ 49%) (31,954,000) b (30,701,000)
ART 1,966,000 1,966,000
TOTAL LTCG 56,212,000 24,258,000 37,193,000 6,492,000
ADJUSTED GROSS INCOME (AGI) 108,538,000 76,584,000 114,852,000 84,151,000
ITEMIZED DEDUCTIONS 77,111,000 76,680,692 52,989,250 50,008,250
TAXABLE INCOME 31,427,000 (96,692) 61,862,750 34,142,750
TAX - ALTERNATIVE MINIMUM TAX (AMT) 12,852,000 6,461,000 17,373,000 11,233,000
TAX - MEDICARE (3.8%) 1,760,000 750,000 1,550,000 570,000
TAX DEFFERAL - PFIC
TOTAL FEDERAL TAX 14,612,000 7,211,000 18,923,000 11,803,000
STATE INCOME TAX 12,610,000 8,550,000 13,530,000 9,630,000
TOTAL FEDERAL AND STATE INCOME TAX 27,222,000 15,761,000 32,453,000 21,433,000
EFFECTIVE TAX RATE a 36.92% 37.73% 36.87% 37.38%
a FED + STATE TAX OVER AG LESS CHARITY
b SALES PRICE $4MM
BRH CASH FLOW TO TAXABLE INCOME
BRH TAXABLE INCOME 67,760,000 67,760,000 95,573,000 95,573,000
BRH CASH DISTRIBUTION (ACCRUED BASIS) 127,960,000 127,960,000 133,527,000 133,527,000
EFTA_R1_01307251
EFTA02341524
LOB/ DRB
ITEMIZED DEDUCTIONS
FY 2013 - 2016
FY2015 FY2015 FY2016 FY2016
ITEMIZED DEDUCTIONS
STATE INCOME TAX 33,102,000 31,715,692 13,530,000 9,630,000
REAL ESTATE TAX 1,128,000 1,128,000 1,378,000 1,378,000
TOTAL TAX 34,230,000 32,843,692 14,908,000 11,008,000
CHARITY -CASH FOUNDATION (30% AGI) 14,100,000 14,100,000 2,250,000 2,250,000
CHARITY -CASH PUBLIC (50% AGI) 19,690,000 19,690,000 24,570,000 24,570,000
CHARITY - NON-CASH FOUNDATION (20% AGI) 1,021,000 1,021,000
CHARITY - NON-CASH PUBLIC (30% AGI)
TOTAL CHARITY 34,811,000 34,811,000 26,820,000 26,820,000
INTEREST EXP - COOP 18,000 18,000 18,000 18,000
INTEREST EXP - ART LOAN 7,000,000 7,000,000 11,215,250 11,215,250
INTEREST EXP BRH 3,464,000 3,464,000 3,464,000 3,464,000
INTEREST EXP APOLLO 705,000 705,000
INTEREST EXP OTHER 130,000 130,000
TOTAL INTEREST EXP 11,317,000 11,317,000 14,697,250 14,697,250
MISC EXP INCL DEDUCTIONS LIMITED TO 2% AGI
DISALLOWANCE - 3% AGI (3,247,000) (2,291,000) (3,436,000) (2,517,000)
TOTAL ITEMIZED DED 77,111,000 76,680,692 52,989,250 50,008,250
EFTA_R1_01307252
EFTA02341525