Finance of America Companies Inc. (FOA) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
5830 GRANITE PARKWAY PLANO, TX 75024 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6162 - Mortgage Bankers and Loan Correspondents (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Current Assets | |||||||
| Cash, cash equivalents, and short-term investments | 46,482 | 97,361 | 151,790 | 850 | |||
| Cash and cash equivalents | 46,482 | 97,361 | 141,238 | 850 | |||
| Short-term investments | 10,552 | ||||||
| Restricted cash and investments | 178,319 | 180,075 | 322,403 | ||||
| Prepaid expense | 23,981 | 11 | |||||
| Total current assets: | 224,801 | 277,436 | 498,174 | 861 | |||
| Noncurrent Assets | |||||||
| Operating lease, right-of-use asset | 23,399 | 43,203 | 62,528 | ||||
| Property, plant and equipment | 5,967 | 19,015 | 29,256 | ||||
| Intangible assets, net (including goodwill) | 253,531 | 374,555 | 602,900 | ||||
| Intangible assets, net (excluding goodwill) | 253,531 | 374,555 | 602,900 | ||||
| Asset, held-in-trust | 293,315 | ||||||
| Total noncurrent assets: | 282,897 | 436,773 | 694,684 | 293,315 | |||
| Other undisclosed assets | 26,599,892 | 20,158,446 | 20,596,088 | ||||
| TOTAL ASSETS: | 27,107,590 | 20,872,655 | 21,788,946 | 294,176 | |||
| LIABILITIES AND EQUITY | |||||||
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts payable and accrued liabilities | 1,696 | ||||||
| Accounts payable | 917 | ||||||
| Accrued liabilities | 779 | ||||||
| Derivative instruments and hedges, liabilities | 569 | 26,678 | |||||
| Total current liabilities: | 569 | 26,678 | 1,696 | ||||
| Noncurrent Liabilities | |||||||
| Other undisclosed noncurrent liabilities | 44,539 | ||||||
| Total noncurrent liabilities: | 44,539 | ||||||
| Other undisclosed liabilities | 26,835,183 | 20,467,245 | 20,679,258 | ||||
| Total liabilities: | 26,835,183 | 20,467,814 | 20,705,936 | 46,235 | |||
| Temporary equity, carrying amount | 287,500 | ||||||
| Equity | |||||||
| Equity, attributable to parent | 232,297 | 253,920 | 387,897 | (39,559) | |||
| Common stock | 1 | ||||||
| Additional paid in capital | 946,929 | 888,488 | 831,620 | ||||
| Accumulated other comprehensive loss | (249) | (273) | (110) | ||||
| Accumulated deficit | (714,383) | (634,295) | (443,613) | (39,560) | |||
| Equity, attributable to noncontrolling interest | 40,100 | 150,915 | 695,107 | ||||
| Other undisclosed equity | 10 | 6 | 6 | ||||
| Total equity: | 272,407 | 404,841 | 1,083,010 | (39,559) | |||
| TOTAL LIABILITIES AND EQUITY: | 27,107,590 | 20,872,655 | 21,788,946 | 294,176 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Revenues | 234,250 | 573,241 | ||||
| Net investment income | 12,193 | 369,355 | ||||
| Fee income | 43,450 | ✕ | ✕ | ✕ | ||
| Gross profit: | 234,250 | 573,241 | ||||
| Operating expenses | (392,007) | (1,148,615) | (86,400) | (2,393) | ||
| Operating loss: | (157,757) | (575,374) | (86,400) | (2,393) | ||
| Nonoperating income (Other Nonoperating income) | 211 | 35,831 | ||||
| Interest and debt expense | (118,728) | (151,737) | ||||
| Loss from continuing operations before equity method investments, income taxes: | (276,274) | (691,280) | (86,400) | (2,393) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 109,432 | (40,772) | ||||
| Loss from continuing operations before income taxes: | (166,842) | (732,052) | (86,400) | (2,393) | ||
| Income tax expense (benefit) | 593 | 16,524 | ||||
| Loss from continuing operations: | (166,249) | (715,528) | (86,400) | (2,393) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (86,400) | (2,393) | |
| Loss from discontinued operations | (51,909) | |||||
| Net loss: | (218,158) | (715,528) | (86,400) | (2,393) | ||
| Net income attributable to noncontrolling interest | 524,846 | |||||
| Other undisclosed net income (loss) attributable to parent | 138,070 | (15,273) | ||||
| Net loss available to common stockholders, diluted: | (80,088) | (190,682) | (86,400) | (17,665) | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|---|
| Net loss: | (218,158) | (715,528) | (86,400) | (2,393) | ||
| Other undisclosed comprehensive income (loss) | 24 | (163) | ||||
| Comprehensive loss: | (218,134) | (715,691) | (86,400) | (2,393) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 524,846 | |||||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 138,055 | 109 | ||||
| Comprehensive loss, net of tax, attributable to parent: | (80,079) | (190,736) | (86,400) | (2,393) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.