Company: LGN
Filing Date: 2025-11-03
Form Type: DRS
Source: 0001193125-25-262782
Chunk: 279

Company: Legence Corp.
Filing Date: 2025-11-03
Form: DRS
Chunk 279
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 assets                          |     | $            | 40,077 |
| Accrued and other current liabilities |     | $            |  1,448 |
| Contract liabilities                  |     |              |  4,471 |
| Total liabilities                     |     | $            |  5,919 |

The assets of the PCs can only be used to settle their own obligations. The Company and the PCs have a promissory note agreement that allows each PC to borrow up to $1.0 million from the Company; however, no amounts have been borrowed. The Company’s Consolidated Balance Sheets, Consolidated Statements of Operations and Consolidated Statements of Cash Flows, net of intercompany eliminations, are impacted by the performance of the PCs. The Company’s Consolidated Financial Statements show noncontrolling interests, which represent the equity owned by the PCs’ owner. Equity Method Investments The Company has investments in, and transactions with, a number of unconsolidated joint ventures. The investments 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. 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 |