Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 252

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 252
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.Notes to Consolidated Financial Statements

10.    Intangible Assets, NetIntangible assets, net, consisted of the following (in thousands):December 31, 2024Amortization Period (Years)CostAccumulated AmortizationImpairmentNetNon-amortizing intangiblesTrade nameN/A$21,100 $— $— $21,100 Amortizing intangiblesBroker/customer relationships9334,700 (139,458)— 195,242 Total intangibles$355,800 $(139,458)$— $216,342 December 31, 2023Amortization Period (Years)CostAccumulated AmortizationImpairmentNetNon-amortizing intangiblesTrade nameN/A$27,500 $— $(6,400)$21,100 Amortizing intangiblesBroker/customer relationships9 334,700 (102,269)— 232,431 Total intangibles$362,200 $(102,269)$(6,400)$253,531 There was no intangible asset impairment for the year ended December 31, 2024. Based on the annual impairment testing in the fourth quarter of 2023, the Company recognized an indefinite-lived intangible asset impairment of $6.4 million for the year ended December 31, 2023 at the Portfolio Management reporting unit. Amortization expense was $37.2 million for each of the years ended December 31, 2024 and 2023. As of December 31, 2024, the estimated amortization expense for the next five years and thereafter is as follows (in thousands):Year Ending December 31,Amount2025$37,189 202637,189 202737,189 202837,189 202937,189 Thereafter9,297 Total future amortization expense$195,242 

141

Finance of America Companies Inc.Notes to Consolidated Financial Statements

11.    Other Assets, NetOther assets, net, related to continuing operations consisted of the following (in thousands):December 31, 2024December 31, 2023Government guaranteed receivables$41,948 $76,646 Retained bonds, at fair value (Note 6 - Fair Value)40,407 44,297 Receivables, net of allowance of $3,135 and $