Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 330

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 330
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 |                |     |

Future amortization of intangible assets as of June 30, 2025 was as follows (in thousands):

| Year ending December 31:    
 2025 (six months remaining) |     |   |  38,803 |
|:----------------------------|:----|:--|--------:|
| 2026                        |     |   |  73,634 |
| 2027                        |     |   |  73,402 |
| 2028                        |     |   |  73,402 |
| 2029                        |     |   |  73,376 |
| Thereafter                  |     |   | 249,396 |
|                             |     | $ | 582,013 |

F-76

Legence Holdings LLC and Subsidiaries Notes to Condensed Consolidated Financial Statements—(Continued) (Unaudited) Note 6—Variable Interest Entities and Equity Method Investments The Company holds interests in a number of joint ventures and other entities, some of which are VIEs. The Company consolidates a VIE when it is the primary beneficiary. For unconsolidated joint ventures, the Company accounts for its investment using the equity method. Consolidated Variable Interest Entities The Company has various contractual relationships with two professional corporations (“PCs”) that provide engineering and design services in New York and California. The Company does not own any equity interest in the PCs but provides most of the administrative functions, personnel and other resources required for the PCs to fulfill contracts with their customers. The Company receives fees from the PCs for these services. The Company is the primary beneficiary of the PCs. As such, the Company consolidates the PCs within the Condensed Consolidated Financial Statements. The table below shows the carrying amounts and classification of the PCs’ assets and liabilities included on the Company’s Condensed Consolidated Balance Sheets, excluding intercompany balances (in thousands):

|                                       |     |   | June 30, 
     2025 |     |   | December 31, 
         2024 |
|:--------------------------------------|:----|:--|---------:|:----|:--|-------------:|
| Cash                                  |     | $ |    1,253 |     | $ |       11,391 |
| Accounts receivable, net              |     |   |   12,007 |     |   |       25,744 |
| Contract assets, net                  |     |   |