Annual report pursuant to Section 13 and 15(d)

Condensed Financial Information of Registrant (Tables)

v3.22.4
Condensed Financial Information of Registrant (Tables)
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheet
Finance of America Companies Inc.
(Parent Company Only)
Condensed Statements of Financial Condition
(In thousands, except share data)
December 31, 2022 December 31, 2021
ASSETS
Investment in subsidiaries $ 259,895  $ 446,517 
TOTAL ASSETS $ 259,895  $ 446,517 
LIABILITIES AND EQUITY
Payables and other liabilities 5,784  58,538 
TOTAL LIABILITIES $ 5,784  $ 58,538 
EQUITY
Class A Common Stock, $0.0001 par value; 6,000,000,000 shares authorized; 67,681,856 and 65,013,569 shares issued, respectively, and 63,423,356 and 60,755,069 shares outstanding, respectively
 6  6 
Additional paid-in capital 888,488  831,620 
Accumulated deficit (634,295) (443,613)
Accumulated other comprehensive loss (88) (34)
TOTAL EQUITY 254,111  387,979 
TOTAL LIABILITIES AND EQUITY $ 259,895  $ 446,517 
Condensed Income Statement
Finance of America Companies Inc.
(Parent Company Only)
Condensed Statements of Operations and Comprehensive Income
(In thousands)
For the year ended December 31, 2022 For the nine months ended December 31, 2021 For the three months ended March 31, 2021 For the year ended December 31, 2020
Successor Predecessor
REVENUES
Interest income $ —  $ —  $ —  $ 164 
Interest expense —  —  (46) (3,669)
Net interest expense —  —  (46) (3,505)
TOTAL REVENUES —  —  (46) (3,505)
EXPENSES
Salaries, benefits, and related expenses —  —  4,041  7,710 
Occupancy, equipment rentals, and other office related expenses —  —  161  632 
General and administrative expenses —  —  357  1,292 
TOTAL EXPENSES —  —  4,559  9,634 
OTHER, NET 40,163  15,042  —  — 
NET INCOME (LOSS) BEFORE INCOME TAXES 40,163  15,042  (4,605) (13,139)
Benefit for income taxes applicable to parent (17,524) (23,748) —  — 
NET INCOME (LOSS) 57,687  38,790  (4,605) (13,139)
Equity (deficit) in undistributed income from subsidiaries (248,369) (410,590) 124,464  531,527 
NET INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST (190,682) (371,800) 119,859  518,388 
Other comprehensive income (loss) (54) (34) (11) 60 
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST $ (190,736) $ (371,834) $ 119,848  $ 518,448 
Condensed Statement of Comprehensive Income
Finance of America Companies Inc.
(Parent Company Only)
Condensed Statements of Operations and Comprehensive Income
(In thousands)
For the year ended December 31, 2022 For the nine months ended December 31, 2021 For the three months ended March 31, 2021 For the year ended December 31, 2020
Successor Predecessor
REVENUES
Interest income $ —  $ —  $ —  $ 164 
Interest expense —  —  (46) (3,669)
Net interest expense —  —  (46) (3,505)
TOTAL REVENUES —  —  (46) (3,505)
EXPENSES
Salaries, benefits, and related expenses —  —  4,041  7,710 
Occupancy, equipment rentals, and other office related expenses —  —  161  632 
General and administrative expenses —  —  357  1,292 
TOTAL EXPENSES —  —  4,559  9,634 
OTHER, NET 40,163  15,042  —  — 
NET INCOME (LOSS) BEFORE INCOME TAXES 40,163  15,042  (4,605) (13,139)
Benefit for income taxes applicable to parent (17,524) (23,748) —  — 
NET INCOME (LOSS) 57,687  38,790  (4,605) (13,139)
Equity (deficit) in undistributed income from subsidiaries (248,369) (410,590) 124,464  531,527 
NET INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST (190,682) (371,800) 119,859  518,388 
Other comprehensive income (loss) (54) (34) (11) 60 
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CONTROLLING INTEREST $ (190,736) $ (371,834) $ 119,848  $ 518,448