Company: RMIX
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001104659-25-110488
Chunk: 559

Company: Suncrete, Inc.
Filing Date: 2025-11-12
Form: S-4
Chunk 559
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 represent distinct performance obligations from the delivery of ready-mix concrete.

The Company does not offer rights of return or refund to its customers. The Company had no contract assets, contract liabilities, or remaining performance obligations as of the Balance Sheet dates presented.

#### Accounts Receivable
Accounts receivable represent customer obligations due under normal trade terms and are recorded at the invoiced amount, net of an allowance for expected credit losses. Accounts receivable originating in the normal course of business are recorded at cost. Accounts receivable acquired in a business combination are recorded at fair value at the acquisition date, which approximates their net book value due to the short-term nature of the balances.

The Company sells ready-mix concrete and concrete products to various customers. The Company performs ongoing credit evaluations of its customers’ financial condition and generally requires no collateral. The allowance for expected credit losses is estimated based on the length of time receivables are past due, prior loss history, current and expected economic conditions, trends in the construction industry, and the customer’s ability to pay. The Company also considers individual credit risk profiles and writes off specific receivables once they are deemed uncollectible. Payments subsequently received on accounts previously written off are credited back to the allowance. Additions to the allowance are recorded as bad debt expense.

As of December 31, 2024 and 2023, the allowance for expected credit losses was approximately $61,400 and $17,400, respectively. Accounts receivable are presented on the Consolidated and Combined Balance Sheets net of this allowance.

While the Company believes it is not exposed to significant overall credit risk, one customer accounted for more than 10% of accounts receivable as of both December 31, 2024 and 2023. The Company monitors the creditworthiness of its counterparties by reviewing credit ratings, financial statements, and payment history.

The opening and closing balances of accounts receivable from contracts with customers were $17.0 million and $19.8 million as of January 1, 2024 and December 31, 2024, respectively. For comparative purposes, balances were $13.3 million and $17.0 million as of January 1, 2023 and December 31, 2023, respectively.

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NOTES TO CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS Inventory Inventories consist primarily of raw materials such as cement, sand, gravel, and other components used in the