Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 258

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 258
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 31, 2024 and December 31, 2023, the Company had deferred purchase price liabilities of $15.0 million and $8.1 million, respectively, related to the closing of the AAG Transaction. Refer to Note 3 - Acquisitions for additional detail. 

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Finance of America Companies Inc.Notes to Consolidated Financial Statements

16.    LeasesThe table below summarizes the Company’s operating lease portfolio related to continuing operations (dollars in thousands).December 31, 2024December 31, 2023ROU assets$20,533$23,399Lease liabilities28,47431,250Weighted average remaining lease term (in years)7.918.54Weighted average discount rate6.41 %6.46 %During 2024 and 2023, the Company’s restructuring of the business and certain operating losses triggered impairment analyses and the Company recognized impairment charges of $0.4 million and $1.1 million for the ROU asset in the years ended December 31, 2024 and 2023, respectively. The table below summarizes the Company’s net operating lease cost related to continuing operations (in thousands):For the year ended December 31, 2024For the year ended December 31, 2023Operating lease cost$6,084 $6,777 Short-term lease cost171 607   Total operating and short-term lease cost6,255 7,384 Variable lease cost649 694 Sublease income(2,150)(546)Net lease cost$4,754 $7,532 The table below summarizes other information related to the Company’s operating leases in continuing operations (in thousands):For the year ended December 31, 2024For the year ended December 31, 2023Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows from operating leases$5,796 $6,297 Leased assets obtained in exchange for new operating lease liabilities1,322 388 The following table presents a maturity analysis of operating leases and a reconciliation of the undiscounted cash flows to lease liabilities as of December 31, 2024 (in thousands):Year Ending December 31,Amount2025$5,312 20265,149 20274,814 20283,505 20293,278 Thereafter14,863 Total undiscounted lease payments36,921 Less