Company: LGN
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001193125-25-186788
Chunk: 147

Company: Legence Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 147
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 decreased by $36.2 million, while the
benefit was partially offset by a $25.7 million decrease in cash provided by the effects of changes in operating assets and liabilities. The decrease from changes in operating assets and liabilities is primarily attributable to an increase in
contract assets of $21.8 million due to increased revenue and contract retentions, as well as a decrease in accounts payable of $22.3 million due to the volume and timing of payments to vendors. These changes were partially offset by other
operating assets and liabilities, primarily a $14.3 million benefit from changes in accounts receivable due to the timing of collections from customers. The impact of adjustments for noncash items was mostly offsetting in nature and is detailed
on the Consolidated Statements of Cash Flows.

Investing Activities

Cash flows used in investing activities primarily consist of payments for the acquisition of businesses, capital expenditures and proceeds from
the sale of property and equipment.

Cash flows used in investing activities decreased by $57.7 million for the six months ended
June 30, 2025, compared to the six months ended June 30, 2024. The decrease is primarily attributable to consideration paid for acquisitions of $64.6 million during the six months ended June 30, 2024.

Cash flows used in investing activities increased by $110.1 million during 2024 compared to 2023. The increase is primarily attributable
to a $105.4 million increase in consideration paid for acquisitions.

Cash flows used in investing activities decreased by
$26.5 million during 2023 compared to 2022. The decrease is primarily attributable to a $14.3 million decrease in consideration paid for acquisitions and a $9.2 million decrease in purchases of property and equipment.

Financing Activities

Financing cash
flows primarily consist of the issuance and repayment of short-term and long-term debt, debt issuance costs, contingent earnouts from acquisitions, financing lease payments, and cash distributions and contributions to and from Legence Parent.

107

For the six months ended June 30, 2025, cash used in financing activities was $31.4 million, compared to cash provided by financing activities of $205.5 million for the six months ended June 30, 2024. The $236.9 million decrease in cash flows from financing activities is primarily attributable to term loan borrowings of $250.0 million during the six months ended June 30, 2024. Additionally, for the