Note 10. Noncontrolling Interests Holders

Southland has several controlling interests including both joint ventures and partnerships. We have controlling interests and allocate earnings and losses in those entities to the noncontrolling interest holders based on our ownership percentages.

We own an 84.7% interest in Oscar Renda Contracting, Inc. (“Oscar Renda”), as of June 30, 2026, and June 30, 2025.

We own a 70.0% interest in the Southland Astaldi joint venture as of June 30, 2026, and June 30, 2025.

American Bridge entered into a joint venture with Commodore Maintenance Corporation, forming American Bridge/Commodore Joint Venture.  According to the joint venture agreement, each of the parties is paid in accordance with its respective work performed and has no responsibility for losses incurred by the other party in performance of its work. In June of 2026, American Bridge and Commodore Maintenance Corporation entered into an agreement to remove Commodore Maintenance Corporation from the joint venture.  In connection with the agreement, American Bridge agreed to assume the full interest of the joint venture, including all past, present, and future assets and liabilities. At June 30, 2026, American Bridge was responsible for approximately 93% of the total contracted work.

We consolidated each of Oscar Renda Contracting of Canada, Southland Astaldi joint venture, and American Bridge/Commodore joint venture as a result of our control over the joint venture operations. We have fully consolidated revenue, cost of construction, and other costs on our unaudited condensed consolidated statements of operations and balances on the unaudited condensed consolidated balance sheets.

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