Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 56

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 8
Chunk 56
---
, earnings (loss) per share, FOA Class A Common Stock share price, and number of Class A LLC Units have been adjusted to reflect the Reverse Stock Split on a retroactive basis. As a result of the Reverse Stock Split, an immaterial amount was reclassified from Class A Common Stock to Additional paid-in capital in the Consolidated Statements of Financial Condition.Change in Consolidated Statements of Operations PresentationBeginning with the Company’s second quarter 2024 Form 10-Q, the Consolidated Statements of Operations presentation was changed to provide additional detail regarding the Company’s activities. The change primarily consists of disaggregating the Company’s previously reported net fair value gains on loans and related obligations caption into the currently presented captions of interest income, interest expense, net origination gains, gain on securitization of HECM tails, net, fair value changes from model amortization, and fair value changes from market inputs or model assumptions. Additionally, previously reported interest income and interest expense, which primarily represented the Company’s interest income on mortgage loans held for sale and other interest income and the Company’s interest expense associated with the Company’s other financing lines of credit, was combined with the interest income and interest expense that was previously reported within net fair value gains on loans and related obligations, excluding non-portfolio interest income and the interest expense associated with the Company’s non-funding debt, which is now reported separately as non-funding interest expense, net. As a result of the change, the Company’s previously reported revenues have been reclassified to reflect the updated presentation as follows:

108

Finance of America Companies Inc.Notes to Consolidated Financial Statements

Reconciliation of the previously reported Consolidated Statements of Operations captions to the current presentation:For the year ended December 31, 2023Total Net fair value gains on loans and related obligations Fee incomeLoss on sale and other income from loans held for sale, netInterest incomeInterest expenseFinance of America Companies Inc. as previously reported$234,250 $322,329 $43,450 $(24,994)$12,193 $(118,728)Reconciliation to current presentation:PORTFOLIO INTEREST INCOMEInterest income1,628,877 1,617,954 — — 10,923 — Interest expense(1,360,998)(1,273,159)— — — (87,839)NET PORTFOLIO INTEREST INCOME267,879 344,795 — — 10,