Company: FOACW
Filing Date: 2025-05-23
Form Type: 10-Q/A
Source: 0001828937-25-000042
Chunk: 20

Company: Finance of America Companies Inc.
Filing Date: 2025-05-23
Form: 10-Q/A
Chunk 20
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 the debt and amortization of any issuance costs, premiums, and discounts which are amortized over the outstanding life of the note using the effective interest method.

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

Recently Issued Accounting Guidance, Not Yet Adopted as of June 30, 2024

| Standard                                                                                                                   |     | Description                                                                                                                                                                                                                                                                                                                                                                   |     | Date of Planned Adoption                                                                                                                                                                    |     | Effect on Condensed Consolidated Financial Statements                                                                                                  |
| Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures |     | In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07 which requires disclosures of significant reportable expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment’s profit or loss.                                                                      
 This ASU also requires disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources.                                                                                                                                  |     | We are currently evaluating the impact that this guidance will have on the disclosures within our financial statements, and expect to adopt this ASU for the year ending December 31, 2024. |     | This ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. 
 Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted.         |
| ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures                                              |     | In December 2023, the FASB issued ASU 2023-09 that enhances income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation, and by requiring disclosure of the amount of income taxes paid disaggregated by federal, state, and foreign taxes, as well as disaggregated by material individual jurisdictions. |     | We are currently evaluating the impact that this guidance will have on the disclosures within our financial statements, and expect to adopt this ASU for the year ending December 31, 2025. |     | This ASU is effective for annual periods beginning after December