v3.26.1
Variable Interest Entities and Equity Method Investments - Schedule of Carrying Amounts and Classification of the PCs' Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Variable Interest Entity [Line Items]    
Contract assets, net $ 382,167 $ 259,941
Total current assets 1,648,176 1,110,346
Total assets [1] 3,739,689 2,679,396
Accrued and other current liabilities 81,405 16,475
Total liabilities [1] 2,762,149 1,890,601
Variable Interest Entity, Primary Beneficiary    
Variable Interest Entity [Line Items]    
Cash 4,165 5,019
Accounts receivable, net 15,351 12,868
Contract assets, net 3,564 3,699
Total current assets 23,080 21,586
Other assets 130 224
Total assets 23,210 21,810
Accrued and other current liabilities 1,237 2,359
Contract liabilities 7,484 7,012
Total liabilities $ 8,721 $ 9,371
[1] As of June 30, 2026, total assets include $23.2 million and total liabilities include $8.7 million for consolidated variable interest PCs as defined in “Note 6—Variable Interest Entities and Equity Method Investments”. As of December 31, 2025, total assets include $21.8 million and total liabilities include $9.4 million for consolidated variable interest PCs. Substantially all of the remaining total assets and total liabilities are attributable to the consolidated Legence Holdings variable interest entity, excluding the Tax receivable agreement liability (refer to “Note 14—Tax Receivable Agreement”), deferred tax assets net of valuation allowance of $174.9 million and $29.5 million included in Other assets as of June 30, 2026 and December 31, 2025, respectively, as well as income tax payable of $6.9 million and $2.0 million included in Accrued and other current liabilities as of June 30, 2026 and December 31, 2025, respectively. Assets of the variable interest entities can only be used to settle the liabilities of those entities. Refer to “Note 6—Variable Interest Entities and Equity Method Investments” for additional information.