Company: LGN
Filing Date: 2025-11-03
Form Type: DRS
Source: 0001193125-25-262782
Chunk: 277

Company: Legence Corp.
Filing Date: 2025-11-03
Form: DRS
Chunk 277
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 2023 and 2022, the Company bypassed the qualitative assessment and proceeded directly to the quantitative assessment. During the year ended December 31, 2024, it was determined the carrying amount of Goodwill for one reporting unit in the Engineering & Consulting segment exceeded fair value, resulting in Goodwill impairment of $17.8 million. The impairment was primarily driven by a decline in projected cash flows due to lower revenue projections. Lower revenue projections primarily reflected the impact of delayed contract awards and the uncertainty that revenue will be realized for these contracts which are point-in-timerevenue recognition contracts. During the year ended December 31, 2023, it was determined the carrying amount of Goodwill for a different reporting unit in the Engineering & Consulting segment exceeded fair value, resulting in Goodwill impairment of $5.1 million. The impairment was primarily driven by a decline in projected cash flows due to lower revenue projections and investments in support functions. During the year ended December 31, 2022, it was determined the carrying amount of Goodwill for two reporting units in the Installation & Maintenance segment exceeded fair value, resulting in Goodwill impairment of $23.4 million. The impairment was primarily driven by a decline in projected cash flows due to lower revenue projections, investments in support functions, and an increased cost of capital due to rising interest rates. Impairment charges are presented in Goodwill impairment on the Consolidated Statements of Operations. F-35

Confidential Treatment Requested by Legence Corp. Pursuant to 17 C.F.R. Section 200.83 The Company’s identifiable intangible assets consist of the following (in thousands, except weighted-average remaining lives):

|                        |     | December 31, 2024 |         |     |              |          |   |     |              |         |     |                |     |
|:-----------------------|:----|:------------------|--------:|:----|:-------------|:---------|:--|:----|:-------------|--------:|:----|:---------------|----:|
|                        |     | Gross Carrying    
 Amount            |         |     | Accumulated  
 Amortization |          |   |     | Net Carrying 
 Amount       |         |     | Weighted-      
 average        
 Remaining Life 
 (in years)     |     |
| Customer relationships |     | $                 | 652,315 |     | $            | (153,262 | ) |     | $            | 499,