Company: RMIX
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001104659-25-110488
Chunk: 640

Company: Suncrete, Inc.
Filing Date: 2025-11-12
Form: S-4
Chunk 640
---
, INC. DBA SCHWARZ READY MIX AND SUBSIDIARIES

### NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

#### Years Ended December 31, 2024 and 2023

#### Note 10.   Employee Benefit Plan
The Companies’ employees may participate in a defined contribution retirement plan with features under section 401(k) of the Internal Revenue Code through the multiple employer plan entitled Schwarz Paving Co., Inc. 401(k) Savings Plan. Employees who have completed three months of service and are 18 years of age are eligible to participate in the plan.

The Companies may make discretionary matching contributions as well as profit sharing contributions. Employees must complete 1,000 hours of service and be employed on the last day of the year to receive a profit-sharing contribution. Discretionary matching contributions were approximately $573,452 and $558,824 for the years ended December 31, 2024 and 2023. No profit-sharing contributions were made for the years ended December 31, 2024 and 2023.

#### Note 11.   Accounting Principle Change
In October 2025, the Companies were acquired by Eagle Redi-Mix. Subsequent to the acquisition, the new ownership group communicated its intention to pursue an initial public offering (IPO) of the newly formed company’s equity securities. As a result, the Companies no longer qualify as a private company under U.S. generally accepted accounting principles (GAAP) and is required to apply the accounting guidance applicable to public business entities.

Historically, the Companies elected the private company accounting alternative for the subsequent measurement of goodwill under FASB ASC 350-20, which permitted the amortization of goodwill on a straight-line basis over a period not to exceed 10 years. In connection with the planned IPO, the Company is required to retrospectively apply the general guidance in FASB ASC 350-20 applicable to public business entities, which prohibits the amortization of goodwill and requires annual impairment testing.

Accordingly, the accompanying financial statements have been reissued to remove previously recognized accumulated goodwill amortization and related amortization expense. The carrying amount of goodwill as of December 31, 2024, has been restated to reflect the amount that would have been reported had the private company alternative not been elected. All related disclosures have been updated to conform to the accounting requirements for public business entities. The beginning equity was restated for $3,137,197 and accumulated amortization of $3,682,