Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000042
Chunk: 15

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 15
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ourse debt obligations. As such, the Company records nonrecourse debt on the Condensed Consolidated Statements of Financial Condition, which represents the outstanding bonds from the Company’s securitizations.

The Company’s securitizations are generally callable at or following the optional redemption date defined in each related indenture agreement. As part of the Company’s normal course of business, the Company has historically exercised its optional redemption rights with respect to certain securitization transactions in conjunction with a new securitization (the transactions, collectively, the “Call and Reissue Transactions”). For the six months ended June 30, 2024, the Company incorrectly reported the cash flows related to these Call and Reissue Transactions on a net basis within the Condensed Consolidated Statements of Cash Flows rather than on a gross basis.

Additionally, the Company identified certain amounts associated with the Company’s nonrecourse securitization transactions that were misstated in Net cash provided by investing activities and in Net cash provided by financing activities on the Condensed Consolidated Statements of Cash Flows.

The errors described above also impacted the related disclosures within Note 5 - Variable Interest Entities and Securitizations and Note 6 - Fair Value.

The following tables present the effect of the restatement on the Company’s Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and the related disclosures within Note 5 - Variable Interest Entities and Securitizations and Note 6 - Fair Value.

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| Finance of America Companies Inc.                                
 Notes to Condensed Consolidated Financial Statements (Unaudited) |

Condensed Consolidated Statements of Cash Flows

The following table presents the effect of the restatement on the Company’s previously reported Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 (in thousands):

|                                                                             |     | For the six months ended June 30, 2024 |            |     |             |          |     |             |            |
|:----------------------------------------------------------------------------|:----|:---------------------------------------|-----------:|:----|:------------|---------:|:----|:------------|-----------:|
|                                                                             |     | As Previously Reported                 |            |     | Adjustments |          |     | As Restated |            |
| Investing Activities                                                        |     |                                        |            |     |             |          |     |             |            |
| Purchases and originations of loans held for investment                     |