Company: LGN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0002052568-25-000018
Chunk: 141

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 141
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ued)(Unaudited)

Three Months Ended September 30, 2024Nine Months Ended September 30, 2024Revenue$560,804 $1,602,981 Net loss attributable to Legence$(929)$(5,409)These pro forma combined historical results were adjusted for: an increase in interest expense for debt incurred by the Company to finance the transactions, increased depreciation and amortization expense due to the fair value of fixed assets and intangible assets, adjustments for operating lease right-of-use asset lease expense, and the reclassification of transaction expenses to the beginning of the respective pro forma period for each acquisition. The pro forma combined historical results do not eliminate the impact of Acquisition-related costs nor any cost savings or other synergies that may result from the acquisitions. Results of Operations

For the three and nine months ended September 30, 2024, Revenue of $40.3 million and $64.3 million, respectively, and Net loss attributable to Legence of $(1.6) million and $(1.1) million, respectively, are included on the Condensed Consolidated Statements of Operations for the businesses acquired during the nine months ended September 30, 2024. 

Note 5 - Goodwill and Intangible Assets

The following is a summary of changes in the carrying value of Goodwill by segment (in thousands):Carrying value of GoodwillEngineering & ConsultingInstallation & MaintenanceTotalBalance, December 31, 2024$433,077 $348,117 $781,194 Measurement period adjustments1,737 — 1,737 Balance, September 30, 2025$434,814 $348,117 $782,931 Accumulated goodwill impairmentBalance, December 31, 2024$22,855 $47,407 $70,262 Balance, September 30, 2025$22,855 $47,407 $70,262 The Company’s identifiable intangible assets consist of the following (in thousands, except weighted-average remaining lives):September 30, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-average Remaining Life(in years)Customer relationships$652,315 $(194,918)$457,397 8.6Trade names 178,970 (74,738)104,232 5.8Contract backlog4,420 (3,688)732 0