Company: FOACW
Filing Date: 2025-05-20
Form Type: 10-K/A
Source: 0001828937-25-000032
Chunk: 199

Company: Finance of America Companies Inc.
Filing Date: 2025-05-20
Form: 10-K/A
Chunk 199
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 | -51,909 |
| Net loss from discontinued operations attributable to noncontrolling interest |     |                                      | -2,719 |     |                                      | -33,108 |
| Net loss from discontinued operations attributable to controlling interest    |     | $                                    | -2,008 |     | $                                    | -18,801 |

(1) The Company evaluates the carrying value of long-lived assets, including intangible assets, fixed assets, and ROU assets, when indicators of impairment exist in accordance with ASC 360. Based on the analyses, the Company recognized impairment charges for the year ended December 31, 2023 related to the sales of the previously reported Lender Services and Commercial Originations segments.

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

(2) Amount includes gains on disposalsof $ 0.3million for the year ended December 31, 2023. The gains on disposals consist of a $ 12.8million gain on the sale of the remaining assets of the Lender Services segment, a $ 11.7million loss on the sale of our commercial originations operational assets, and a $ 0.8million loss on the sale of ANTIC and BNT.

There were no material cash flow activities related to discontinued operations for the year ended December 31, 2024. The Consolidated Statement of Cash Flows for the year ended December 31, 2023 included the following material activities related to discontinued operations (in thousands):

|                                                                              |     | For the year ended December 31, 2023 |        |
|:-----------------------------------------------------------------------------|:----|:-------------------------------------|-------:|
| Loss on sale and other income from loans held for sale, net                  |     | $                                    | -2,222 |
| Unrealized fair value changes on loans, related obligations, and derivatives |     |                                      |    308 |
| Impairment of intangibles and other assets                                   |     |                                      |  4,455 |
| Depreciation and amortization                                                |     |                                      |  5,176 |
| Acquisition of fixed assets                                                  |     |                                      |  1,815 |

5. Variable Interest Entities and Securitizations

The 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