Company: FOACW
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001828937-25-000009
Chunk: 277

Company: Finance of America Companies Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 277
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’s interest in FOA Equity. Accordingly, the deferred tax liability from investment in FOA Equity has been treated as an indefinite-lived intangible and is limited by the federal net operating loss utilization rules. The net change in the valuation allowance was $3.9 million and $17.7 million for the years ended December 31, 2024 and 2023, respectively. Furthermore, $1.2 million and $3.3 million of decreases in the valuation allowance associated with transactions with noncontrolling interests in the years ended December 31, 2024 and 2023, respectively, are offset to additional paid-in capital.Net deferred tax liabilities are included in accrued and other liabilities, which is part of Payables and other liabilities in the Consolidated Statements of Financial Condition.Tax positions taken in tax years that remain open under the statute of limitations will be subject to examinations by tax authorities. With few exceptions, the Company is no longer subject to state or local examinations by tax authorities for tax years ended December 31, 2020 or prior.The Company’s unrecognized tax benefits, excluding related interest and penalties, were (in thousands):For the year ended December 31, 2024For the year ended December 31, 2023Unrecognized tax benefits—beginning of period$421 $307 Increases on tax positions related to the current period47 114 Decreases on tax positions related to prior periods(31)— Unrecognized tax benefits—end of period$437 $421 If recognized, the entire amount of the tax benefits disclosed above would reduce the Company’s annual effective tax rate. FOA does not believe that it will have a material increase or decrease in its unrecognized tax benefits during the coming year.

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Finance of America Companies Inc.Notes to Consolidated Financial Statements

24.    Business Segment ReportingThe following tables are a presentation of financial information by segment (in thousands):

For the year ended December 31, 2024Retirement Solutions Portfolio ManagementTotal Reportable SegmentsCorporate and OtherEliminationsTotalPortfolio interest incomeInterest income$— $1,905,214 $1,905,214 $— $— $1,905,214 Interest expense— (1,637,286)(1,637,286)— — (1,637,286)Net portfolio interest income— 267,928 267,928 — — 267,928 Other income (expense)Net origination gains179,