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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments97,361151,790850
Cash and cash equivalents97,361141,238850
Short-term investments  10,552 
Restricted cash and investments180,075322,403 
Prepaid expense  23,98111
Total current assets:277,436498,174861
Noncurrent Assets
Operating lease, right-of-use asset 43,20362,528 
Property, plant and equipment19,01529,256 
Intangible assets, net (including goodwill)374,555602,900 
Intangible assets, net (excluding goodwill)374,555602,900 
Asset, held-in-trust   293,315
Total noncurrent assets:436,773694,684293,315
Other undisclosed assets20,158,44620,596,088 
TOTAL ASSETS:20,872,65521,788,946294,176
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities   1,696
Accounts payable   917
Accrued liabilities   779
Derivative instruments and hedges, liabilities 56926,678 
Total current liabilities: 56926,6781,696
Noncurrent Liabilities
Other undisclosed noncurrent liabilities   44,539
Total noncurrent liabilities:   44,539
Other undisclosed liabilities20,467,24520,679,258 
Total liabilities:20,467,81420,705,93646,235
Temporary equity, carrying amount   287,500
Equity
Equity, attributable to parent253,920387,897(39,559)
Common stock   1
Additional paid in capital888,488831,620 
Accumulated other comprehensive loss(273)(110) 
Accumulated deficit(634,295)(443,613)(39,560)
Equity, attributable to noncontrolling interest150,915695,107 
Other undisclosed equity66 
Total equity:404,8411,083,010(39,559)
TOTAL LIABILITIES AND EQUITY:20,872,65521,788,946294,176

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
Revenues573,241  
Net investment income369,355  
Fee income
Gross profit:573,241  
Operating expenses(1,148,615)(86,400)(2,393)
Operating loss:(575,374)(86,400)(2,393)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
35,831  
Interest and debt expense(151,737)  
Loss from continuing operations before equity method investments, income taxes:(691,280)(86,400)(2,393)
Other undisclosed income (loss) from continuing operations before income taxes(40,772)  
Loss from continuing operations before income taxes:(732,052)(86,400)(2,393)
Income tax benefit16,524  
Loss from continuing operations:(715,528)(86,400)(2,393)
Loss before gain (loss) on sale of properties:(86,400)(2,393)
Loss from discontinued operations   
Net loss:(715,528)(86,400)(2,393)
Net income attributable to noncontrolling interest524,846  
Other undisclosed net income (loss) attributable to parent  (15,273)
Net loss available to common stockholders, diluted:(190,682)(86,400)(17,665)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
Net loss:(715,528)(86,400)(2,393)
Other undisclosed comprehensive income (loss)(163)  
Comprehensive loss:(715,691)(86,400)(2,393)
Comprehensive income, net of tax, attributable to noncontrolling interest524,846  
Other undisclosed comprehensive income, net of tax, attributable to parent109  
Comprehensive loss, net of tax, attributable to parent:(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.

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