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Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Balance Sheets

Supplemental balance sheet information related to leases is as follows (in thousands):


		Classification		December 31, 2022 (Successor)
Assets
Operating leases
Right of use operating lease assets		Other assets		$	10,674
Finance leases
Property and equipment, gross		Property and equipment, net			5,094
Accumulated depreciation		Property and equipment, net			(5,017	)
Property and equipment, net		Property and equipment, net			77
Total lease assets				$	10,751

Liabilities
Operating leases
Other current		Current portion of operating lease liability		$	4,957
Non-current		Operating lease liability, less current portion			7,879
Total operating liabilities					12,836
Finance leases
Other current		Accrued liabilities			104
Non-current		Other liabilities			—
Total finance liabilities					104
Total lease liabilities				$	12,940

Parent [Member]

Condensed Balance Sheets

(PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

(in thousands, except share and per share data)


		As of December 31,
		2022				2021
ASSETS
Investments in subsidiaries		$	1,107,356			$	1,120,832
LIABILITIES AND EQUITY
Liabilities		$	—			$	—
EQUITY
Common stock - $0.001 par value; 1,000,000,000 shares authorized, 148,732,603 and 152,901,040 shares issued and outstanding as of December 31, 2022 and 2021, respectively			149				153
Additional paid-in-capital			1,156,901				1,153,757
Accumulated deficit			(27,363	)			(31,441	)
Accumulated other comprehensive income			(22,331	)			(1,637	)
Total equity			1,107,356				1,120,832
TOTAL LIABILITIES AND EQUITY		$	1,107,356			$	1,120,832

Condensed Statements of Operations and Comprehensive (Loss)

FIRST ADVANTAGE CORPORATION

(PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)

(in thousands, except share and per share data)


		For the Year Ended December 31, 2022				For the Year Ended December 31, 2021				For the Year Ended December 31, 2020
Equity in net income (loss) of subsidiaries		$	64,604			$	16,051			$	(47,492	)
NET INCOME (LOSS)			64,604				16,051				(47,492	)
Foreign currency translation adjustments			(20,694	)			(4,121	)			2,484
COMPREHENSIVE INCOME (LOSS)		$	43,910			$	11,930			$	(45,008	)

NET INCOME (LOSS)		$	64,604			$	16,051			$	(47,492	)
Basic net income (loss) per share		$	0.43			$	0.11			$	(0.37	)
Diluted net income (loss) per share		$	0.43			$	0.11			$	(0.37	)
Weighted average number of shares outstanding - basic			150,227,213				140,480,590				130,000,000
Weighted average number of shares outstanding - diluted			151,807,139				141,687,384				130,000,000