Company: LGN
Filing Date: 2025-07-15
Form Type: DRS/A
Source: 0000950123-25-006399
Chunk: 141

Company: Legence Corp.
Filing Date: 2025-07-15
Form: DRS/A
Chunk 141
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 |     | Year Ended December 31, |     2022 |   |     |   |     2023 |   |     |   |     2024 |   |
|:---------------------------------------------------------------------|:----|:------------------------|---------:|:--|:----|:--|---------:|:--|:----|:--|---------:|:--|
| Cash provided by (used in):                                          |     |                         |          |   |     |   |          |   |     |   |          |   |
| Operating activities                                                 |     | $                       |   26,996 |   |     | $ |   33,917 |   |     | $ |   29,268 |   |
| Investing activities                                                 |     |                         | (160,375 | ) |     |   | (133,902 | ) |     |   | (243,985 | ) |
| Financing activities                                                 |     |                         |  173,807 |   |     |   |  128,471 |   |     |   |  206,964 |   |
| Increase (decrease) in cash and cash equivalents and restricted cash |     | $                       |   40,428 |   |     | $ |   28,486 |   |     | $ |   (7,753 | ) |

Please refer to the supplemental cash flow information included in “Note 19—Other Financial Information” in the Notes to Consolidated Financial Statements and “Note 15—Other Financial Information” in the Notes to Condensed Consolidated Financial Statements for further details. Operating Activities Cash flow from operating activities is primarily influenced by the level of revenue we generate and the gross margin we earn on that revenue. It is also influenced by the timing of working capital investment associated with the services that we provide. Our working capital needs may increase when we commence large volumes of work under circumstances where project costs are required to be paid before the associated receivables are billed and collected. Our management strives to negotiate payment terms that minimize the working capital investment that we are required to make in connection with large projects. Additionally, changes in project timing due to delays or accelerations and other economic, regulatory, market and political factors may affect customer spending and, thus, impact cash flows from operating activities. We typically require the most working capital during the second half of the year as activity levels increase in the spring and summer months and less working capital in the first