Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 63

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 63
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.8 million for the three months ended March 31, 2024. The decrease in interest expense was partially due to a decrease in the balance of gross debt outstanding, partially offset by a 16 bps increase in our weighted average interest rate, in each case, as of March 31, 2025 as compared to March 31, 2024. Additionally, the amendment of certain of our interest rate swap agreements during 2024 reduced related non-cash fair value amortization by $6.1 million for the three months ended March 31, 2025 compared to the three months ended March 31, 2024.

Depreciation and amortization expense increased to $183.1 million for the three months ended March 31, 2025 from $175.3 million for the three months ended March 31, 2024 due to an increase in cumulative capital expenditures and a 703 home increase in the average number of homes owned during the three months ended March 31, 2025 compared to the three months ended March 31, 2024.

47

Casualty losses, impairment, and other expenses were $4.7 million and $4.1 million for the three months ended March 31, 2025 and 2024, respectively. Expense during both periods is primarily comprised of casualty and other insurance losses. 

Losses on Investments in Equity and Other Securities, net

For the three months ended March 31, 2025 and 2024, losses on investments in equity securities, net remained consistent at $0.2 million and is comprised of net unrealized gains recognized on investments held as of each period end.

Other, net

Other, net decreased to $1.4 million of income for the three months ended March 31, 2025 from $6.0 million of income for the three months ended March 31, 2024, primarily due to a decrease in interest income on cash balances held between periods.

Gain on Sale of Property, net of tax

Gain on sale of property, net of tax was $71.7 million and $50.5 million for the three months ended March 31, 2025 and 2024, respectively. Both the number of homes sold and net proceeds per home sold increased from the three months ended March 31, 2024 to the three months ended March 31, 2025.

Losses from Investments in