Company: FOACW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001828937-25-000061
Chunk: 52

Company: Finance of America Companies Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 52
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 effect on our operations and financial results.

17

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

The following table summarizes the major classes of assets and liabilities classified as discontinued operations (in thousands):June 30, 2025December 31, 2024AssetsOther assets, net$1,264 $2,451 LiabilitiesPayables and other liabilities5,011 11,677 The following table summarizes the major components of net loss from discontinued operations (in thousands):For the three months ended June 30, 2025For the three months ended June 30, 2024For the six months ended June 30, 2025For the six months ended June 30, 2024ExpensesGeneral and administrative expenses$— $98 $4,750 $1,622 Other, net— (105)— (3,105)Net loss from discontinued operations before and after income taxes— (203)(4,750)(4,727)Net loss from discontinued operations attributable to noncontrolling interest — (98)(2,722)(2,719)Net loss from discontinued operations attributable to controlling interest $— $(105)$(2,028)$(2,008)

There were no material cash flow activities related to discontinued operations for the six months ended June 30, 2025 and 2024.  

4.    Variable Interest Entities and SecuritizationsThe Company determined that the special purpose entities created in connection with its securitizations are VIEs. A VIE is an entity that has either a total equity investment that is insufficient to permit the entity to finance its activities without additional subordinated financial support or whose equity investors lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary, which is the entity that, through its variable interests, has both the power to direct the activities that significantly impact the VIE’s economic performance and the obligations to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. From time to time, the Company may purchase securities that were previously issued by consolidated trusts. Under these circumstances, we extinguish the outstanding debt and recognize gains or losses for the difference between the consideration paid and the carrying value of the debt. For the three and six months ended June 30, 2025, the Company