Company: LGN
Filing Date: 2025-05-14
Form Type: DRS/A
Source: 0000950123-25-005247
Chunk: 285

Company: Legence Corp.
Filing Date: 2025-05-14
Form: DRS/A
Chunk 285
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 and earnings are immaterial. In addition, the Company recognized $5.7 million of related-party revenue from subcontracts with these joint ventures during the year ended December 31, 2024. F-34

Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83 Legence Holdings LLC and Subsidiaries Notes to Consolidated Financial Statements Note 7—Property and Equipment, net Property and equipment are summarized by major classifications as follows (in thousands):

|                                 | Property and equipment classification | December 31, |    2024 |   |     |   |    2023 |   |
|:--------------------------------|:--------------------------------------|:-------------|--------:|:--|:----|:--|--------:|:--|
| Autos and trucks                |                                       | $            |  38,622 |   |     | $ |  34,359 |   |
| Computer equipment and software |                                       |              |  37,450 |   |     |   |  31,567 |   |
| Leasehold improvements          |                                       |              |  22,489 |   |     |   |  15,090 |   |
| Equipment and tools             |                                       |              |  27,530 |   |     |   |  21,561 |   |
| Office furniture and other      |                                       |              |   5,164 |   |     |   |   2,998 |   |
| Finance lease assets (1)        |                                       |              |  12,242 |   |     |   |   8,452 |   |
| Work-in-progress                |                                       |              |     560 |   |     |   |     938 |   |
| Property and equipment, gross   |                                       |              | 144,057 |   |     |   | 114,965 |   |
| Less: Accumulated depreciation  |                                       |              | (70,676 | ) |     |   | (43,221 | ) |
| Property and equipment, net     |                                       | $            |  73,381 |   |     | $ |  71,744 |   |

| (1) | See “Note 8—Leases” for further information. |

The depreciation expense on property and equipment amounted to $29.9 million, $22.7 million and $16