Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 343

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 343
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 of June 30, 2025 and
December 31, 2024, total guarantees were $308.0 million and $308.2 million, respectively. Historically, the Company has not incurred material losses in connection with these guarantees. Further, management is not aware of any changes
in the ability of the Company to meet these guarantees and does not expect to incur significant losses related to these guarantees in the foreseeable future.

F-86

Legence Holdings LLC and Subsidiaries Notes to Condensed Consolidated Financial Statements—(Continued) (Unaudited) Letters of Credit As discussed in “ Note 7—Debt,” the standby letters of credit are secured through the revolving line of credit. As of both June 30, 2025 and December 31, 2024, the Company had $5.2 million in standby letters of credit primarily related to the deductibles of insurance policies. Note 15—Other Financial Information Accounts receivable, net consists of the following (in thousands):

|                           |     |   | June 30, 
     2025 |     |   | December 31, 
         2024 |
|:--------------------------|:----|:--|---------:|:----|:--|-------------:|
| Contracts receivable, net |     | $ |  484,605 |     | $ |      441,109 |
| Accounts receivable—other |     |   |    5,381 |     |   |        7,501 |
| Accounts receivable, net  |     | $ |  489,986 |     | $ |      448,610 |

Prepaid expenses and other current assets consists of the following (in thousands):

|                                           |     |   | June 30, 
     2025 |     |   | December 31, 
         2024 |
|:------------------------------------------|:----|:--|---------:|:----|:--|-------------:|
| Prepaid expenses                          |     | $ |   20,982 |     | $ |       18,909 |
| Inventories                               |     |   |   10,373 |     |   |       10,247 |
| Deferred contract costs                   |     |   |    3,941 |     |   |        3,489 |
| Interest rate swaps                       |     |   |    2,681 |     |   |