Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 130

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 130
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 be no assurance that our basis for computing this non-GAAP measures is comparable with that of other companies.

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The following table presents a reconciliation of net income (as determined in accordance with GAAP) to FFO, Core FFO, and Adjusted FFO for each of the periods indicated:

For the Three MonthsEnded June 30,For the Six Months Ended June 30,(in thousands, except shares and per share data)2025202420252024Net income available to common stockholders$140,665 $72,981 $306,182 $215,139 Add (deduct) adjustments from net income to derive FFO:Net income available to participating securities222 207 450 399 Non-controlling interests480 243 1,017 679 Depreciation and amortization on real estate assets181,059 173,319 360,122 345,237 Impairment on depreciated real estate investments36 — 99 60 Net gain on sale of previously depreciated investments in real estate(46,591)(43,267)(118,257)(93,765)Depreciation and net gain on sale of investments in unconsolidated joint ventures3,510 3,497 7,008 6,016 FFO279,381 206,980 556,621 473,765 Non-cash interest expense related to amortization of deferred financing costs, loan discounts, and non-cash interest expense from derivatives(1)5,724 8,905 9,358 18,122 Share-based compensation expense(2)8,464 7,492 18,621 15,392 Legal settlements(3)— 59,500 — 59,500 Severance expense35 89 2,420 179 Casualty losses and reserves, net(1)3,000 10,363 7,683 14,445 (Gains) losses on investments in equity and other securities, net90 (1,504)311 (1,295)Core FFO296,694 291,825 595,014 580,108 Recurring capital expenditures(1)(43,272)(46,635)(80,619)(83,757)Adjusted FFO$253,422 $245,190 $514,395 $496,351 Net income available to common stockholdersWeighted