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Noncontrolling Interests

12 Months Ended

Dec. 31, 2025

Noncontrolling Interest [Abstract]

Noncontrolling Interests

Noncontrolling Interests

As noted above, Legence Corp. is the sole managing member of Legence Holdings, and the Company consolidates the financial results of Legence Holdings. Therefore, the Company reports a noncontrolling interest on the portion of net assets and income not attributable to Legence.

The following table summarizes the change in ownership of Legence Holdings during the year ended December 31, 2025. Please refer to “Note 12—Stockholders' Equity / Member’s Equity” for additional information related to activity during the year ended December 31, 2025.

			Ownership																		Ownership Percentage
			Legence Corp. (LGN A Units)						Non- controlling interests (LGN B Units)						Total						Legence Corp. (LGN A Units)						Non- controlling interests (LGN B Units)						Total
Balances at September 12, 2025			58,510,567						46,680,762						105,191,329						55.6		%				44.4		%				100.0		%
Class A Common Stock issued as consideration for acquisitions			145,600						—						145,600						0.1		%				(0.1)		%				—		%
Effects of Secondary Offering			5,200,808						(5,200,808)						—						4.9		%				(4.9)		%				—		%
Balances at December 31, 2025			63,856,975						41,479,954						105,336,929						60.6		%				39.4		%				100.0		%

In addition to the LGN B Units noted above, which represents an economic interest in Legence Holdings, Legence Parent ML owns 41,479,954 shares of Class B Common Stock, which together, may be exchanged at the option of Legence Parent on a one-for-one basis for shares of Class A Common Stock or the cash equivalent thereof (based on the 10-day volume weighted average price of the shares of Class A Common Stock at the time of exchange) as determined by the Company. If the Company elects the exchange to be settled in cash, the cash used to settle the redemption must be funded through a private sale or public offering of Class A Common Stock.

Net income (loss) attributable to Legence Holdings is attributed to the Company and the noncontrolling interest based on their relative ownership percentages. Changes in ownership that do not result in a loss of control are accounted for as equity transactions in accordance with ASC Topic 810, Consolidation.

Noncontrolling interests as presented on the Consolidated Balance Sheets and Consolidated Statements of Operations reflect balances and activity related to the following:

a.Legence Parent ML's ownership of Legence Holdings, as discussed above.

b.Contributions from Legence Parent for Series A Interests and Restricted Series C Interests based on the percentage that Legence Parent contributes relative to the total contributions of Series A Interests and Restricted Series C Interests from Legence Parent and Legence Parent II. These capital contributions from Legence Parent recorded in noncontrolling interests are reclassified to additional paid-in capital on a proportional basis when a change in ownership occurs related to an exchange of LGN B Units.

c.Noncontrolling interests for the PCs, as discussed in “Note 6—Variable Interest Entities and Equity Method Investments.”

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent

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- References

No definition available.

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