Company: LGN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0002052568-25-000018
Chunk: 163

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 163
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elling, general and administrative85,887 67,199 227,814 179,848 Depreciation and amortization24,183 25,475 75,619 70,738 Acquisition-related costs795 154 971 5,593 Loss (gain) on sale of property and equipment21 — (199)— Equity in earnings of joint venture(24)(1,233)(848)(3,131)Interest expense28,183 23,707 88,228 65,392 Interest income(1,069)(523)(2,588)(4,356)Loss on debt extinguishment5,685 — 5,685 — Credit agreement amendment fees64 — 2,990 4,119 Other income, net(123)(121)(268)(434)Income (loss) before income tax$4,457 $3,888 $(8,967)$57 

Separate measures of Legence's assets, including capital expenditures, are not produced or utilized by management to evaluate segment performance. 

Note 17 - Related Party Transactions

The Company's related party transactions include transactions with related parties and certain entities associated with the Company and BX Aggregators.As discussed in “Note 6—Variable Interest Entities and Equity Method Investments”, the Company had related-party revenue from certain unconsolidated joint ventures.As discussed in “Note 7—Debt”, a portion of the Company's term loan is held by entities associated with the Company and BX Aggregators. As discussed in “Note 7—Debt”, the Company issued certain related party promissory notes in connection with certain acquisitions. 

37

Legence Corp.Notes to Condensed Consolidated Financial Statements - (Continued)(Unaudited)

As discussed in “Note 14—Tax Receivable Agreement”, the Company entered into the TRA with TRA Members, which are related parties. 

The Company has various lease agreements with entities owned by members of its management team and/or Common Interests holders. 

Note 18 - Commitments and Contingencies

Legal ProceedingsThe Company is involved in various claims and legal proceedings incidental to its normal business activities. When a potential loss from a proceeding or claim is considered probable and the amount can be reasonably estimated or a range of loss can be determined, a loss contingency is recorded. The Company also provides disclosure when it is reasonably possible that a material loss will be incurred. Although the outcome of