Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000044
Chunk: 88

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 88
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|                                                                             |     |              | For the nine months ended September 30, 2024 |     |   | For the nine months ended September 30, 2023 |
|:----------------------------------------------------------------------------|:----|:-------------|---------------------------------------------:|:----|:--|---------------------------------------------:|
|                                                                             |     | -As Restated |                                              |     |   |                                              |
| Net cash provided by (used in):                                             |     |              |                                              |     |   |                                              |
| Operating activities                                                        |     | $            |                                     -317,610 |     | $ |                                      -10,233 |
| Investing activities                                                        |     |              |                                      275,599 |     |   |                                      139,331 |
| Financing activities                                                        |     |              |                                       37,549 |     |   |                                     -123,972 |
| Effect of exchange rate changes on cash and cash equivalents                |     |              |                                           24 |     |   |                                           52 |
| Net increase (decrease) in cash and cash equivalents and restricted cash(1) |     | $            |                                       -4,438 |     | $ |                                        5,178 |
| Net decrease in cash and cash equivalents                                   |     | $            |                                       -2,224 |     | $ |                                      -31,020 |
| Net increase (decrease) in restricted cash                                  |     |              |                                       -2,214 |     |   |                                       36,198 |

(1) Amounts presented contain results from both continuing and discontinued operations. Refer to Note 4 - Discontinued Operations in the Notes to Condensed Consolidated Financial Statements for additional information regarding cash flow associated with the results of discontinued operations.

Our cash and cash equivalents and restricted cash decreased by $4.4 million for the nine months ended September 30, 2024 compared to an increase of $5.2 million during the comparable period in 2023. Our cash and cash equivalents, excluding restricted cash, decreased $2.2 million nine months ended September 30, 2024 compared to a decrease of $31.0 million during the comparable period in 2023.

Operating Cash Flow

Cash flows from operating activities decreased by $307.4 million for the nine months ended September 30, 2024 compared to the corresponding 2023 period. The decrease was primarily attributable to a $295.0 million decrease in proceeds from the sale of loans held for sale, net of