Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 44

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 44
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IAL STATEMENTS(dollar amounts in thousands)(unaudited)

(3)The carrying values of IH 2017-1 includes $792 and $880 of unamortized discount and excludes $3,892 and $4,347 of deferred financing costs as of March 31, 2025 and December 31, 2024, respectively.(4)The carrying value of the Unsecured Notes — private placement excludes $967 and $1,009 of deferred financing costs as of March 31, 2025 and December 31, 2024, respectively.(5)The carrying value of the IH 2019-1 excludes $1,343 and $1,397 of deferred financing costs as of March 31, 2025 and December 31, 2024, respectively.(6)The carrying values of the Term Loan Facilities exclude $27,236 and $28,959 of deferred financing costs as of March 31, 2025 and December 31, 2024, respectively.(7)The carrying value of the Revolving Facility excludes deferred financing costs which are classified in other assets, net (see Note 6).We value our Unsecured Notes — public offering using quoted market prices for each underlying issuance, a Level 1 price within the fair value hierarchy. The fair values of our investments in debt securities, Unsecured Notes — private placement, and the IH 2017-1 secured loan, which are classified as Level 2 in the fair value hierarchy, are estimated based on market bid prices of comparable instruments at period end.We review the fair value hierarchy classifications each reporting period. Changes in the observability of the valuation attributes may result in a reclassification of certain financial assets or liabilities. Such reclassifications are reported as transfers in and out of Level 3 at the beginning fair value for the reporting period in which the changes occur. Availability of secondary market activity and consistency of pricing from third-party sources impacts our ability to classify securities as Level 2 or Level 3.The following table displays the significant unobservable inputs used to develop our Level 3 fair value measurements as of March 31, 2025:Quantitative Information about Level 3 Fair Value Measurement(1)Fair ValueValuation TechniqueUnobservable InputRateSecured Debt — IH 2019-1$367,424 Discounted Cash FlowEffective Rate5.14%Term Loan Facilities2,478,321 Discounted Cash FlowEffective Rate4.05%—5.56%Revol