Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-K/A
Source: 0001828937-25-000032
Chunk: 198

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-K/A
Chunk 198
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 December 31, 2023. The wind-down of Incenter Solutions LLC was not considered by the Company to be a strategic shift that has had or will have a major effect on our operations and financial results. Therefore, the previous operations of Incenter Solutions LLC are reported within Corporate and Other in Note 24 - Business Segment Reporting, rather than as discontinued operations.

Commercial Originations Segment

On February 19, 2023, the Company entered into an agreement to sell certain commercial originations operational assets of FAM, operating under the brand FACo. This transaction closed on March 14, 2023 for consideration of $ 2.5million, of which $ 0.5million is cash consideration. The Company historically included the commercial originations operations of FACo in its previously reported Commercial Originations segment. In connection with the transaction, the Company discontinued the operations of and wound-down its Commercial Originations segment.

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| Finance of America Companies Inc.          
 Notes to Consolidated Financial Statements |

The following table summarizes the major classes of assets and liabilities classified as discontinued operations as of December 31, 2024 and December 31, 2023 (in thousands):

|                                |     |   | December 31, 2024 |     |   | December 31, 2023 |
|:-------------------------------|:----|:--|------------------:|:----|:--|------------------:|
| Assets                         |     |   |                   |     |   |                   |
| Other assets, net              |     | $ |             2,451 |     | $ |             6,721 |
| Liabilities                    |     |   |                   |     |   |                   |
| Payables and other liabilities |     |   |            11,677 |     |   |            18,304 |

The following table summarizes the major components of net loss from discontinued operations (in thousands):

|                                                                               |     | For the year ended December 31, 2024 |        |     | For the year ended December 31, 2023 |         |
|:------------------------------------------------------------------------------|:----|:-------------------------------------|-------:|:----|:-------------------------------------|--------:|
| Portfolio interest income                                                     |     |                                      |        |     |                                      |         |
| Interest income                                                               |     | $                                    |      — |     | $                                    |     824 |
| Interest expense                                                              |     |                                      |      — |