v3.26.1
Other Financial Information
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Financial Information Other Financial Information
Accounts receivable, net consists of the following (in thousands):
March 31, 2026December 31, 2025
Contracts receivable, net$818,575 $569,812 
Accounts receivable—other8,68014,248
Accounts receivable, net$827,255 $584,060 
Prepaid expenses and other current assets consists of the following (in thousands):
March 31, 2026December 31, 2025
Interest rate swaps$1,671 $42 
Prepaid expenses23,754 22,597 
Inventories14,246 11,303 
Deferred contract costs3,303 2,237 
Prepaid expenses and other current assets$42,974 $36,179 
Accrued and other current liabilities consists of the following (in thousands):
March 31, 2026December 31, 2025
Deferred consideration$46,129 $— 
Current portion of tax receivable agreement liability - related party8,150 — 
Other accrued liabilities19,570 16,475 
Accrued and other current liabilities$73,849 $16,475 
Condensed Consolidated Statements of Cash Flows Information
Additional cash flow information was as follows (in thousands):
Three Months Ended March 31,
20262025
Cash paid for interest and taxes
Interest paid, net of interest rate swaps(1)
$16,158 $28,301 
Income taxes paid, net of refunds$125 $2,972 
Non-cash investing activities
(Decrease) increase in Property and equipment additions included in Accounts payable$(1,846)$1,010 
Non-cash financing activities
Deferred offering costs included in Accounts payable$— $4,767 
Deferred offering costs included in Accrued and other current liabilities$— $2,556 
Contribution from Legence Parent for Series A Interests and Restricted Series C Interests$22,825 $— 
Contribution from Legence Parent II for Series A Interests$13,565 $— 
Tax receivable agreement liability and deferred taxes arising from exchanges of Class B Common Stock$5,112 $— 
Supplemental non-cash lease information
Right-of-use assets obtained in exchange for new operating lease liabilities(2)
$28,998 $6,929 
Right-of-use assets obtained in exchange for new finance lease liabilities(2)
$1,296 $1,746 
Right-of-use asset modifications for operating leases$1,745 $363 
(1)The Company classifies the cash flows resulting from its interest rate swaps in Cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows consistent with the interest that is hedged. Refer to “Note 9—Derivatives” for additional information on the Company’s interest rate swaps.
(2)Includes right-of-use assets acquired. Refer to “Note 4—Acquisitions”.
Refer to “Note 4—Acquisitions” for disclosure of non-cash financing of acquisitions through issuance of Class A Common Stock and deferred consideration.