Company: LGN
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001193125-25-186788
Chunk: 339

Company: Legence Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 339
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 Consolidated Balance Sheets, Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows, net of intercompany eliminations, are impacted by the performance of the PCs. The Company’s Condensed 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 related-party revenue from subcontracts with these joint ventures of $0.8 million and $2.0 million during the three and six months ended June 30, 2025, respectively, and $1.0 million and $2.6 million during the three and six months ended June 30, 2024, respectively. These amounts are included in Revenue on the Condensed Consolidated Statements of Operations. F-77

Legence Holdings LLC and Subsidiaries Notes to Condensed Consolidated Financial Statements—(Continued) (Unaudited) Note 7—Debt Debt obligations consist of the following (in thousands):

|                                                     |     |   |  June 30, 
      2025 |   |     |   | December 31, 
         2024 |   |
|:----------------------------------------------------|:----|:--|----------:|:--|:----|:--|-------------:|:--|
| Term loan                                           |     | $ | 1,582,132 |   |     | $ |    1,590,350 |   |
| Notes payable                                       |     |   |    29,976 |   |     |   |       27,083 |   |
| Finance lease liabilities                           |     |   |     8,689 |   |     |   |        7,216 |   |
| Total debt                                          |     |   | 1,620,797 |   |     |   |    1,624,649 |   |
| Less: Current portion                               |     |   |   (26,149 | ) |     |   |      (22,984 | ) |
| Less: Unamortized debt issuance costs and discounts |     |   |   (13,879 | ) |     |   |      (15,819 | ) |
| Long-term debt, net of current portion              |     | $ | 1,580,769 |