Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 125

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 125
---
, EBITDAre, and Adjusted EBITDAre are not used as measures of our liquidity and should not be considered alternatives to net income or loss or any other measure of financial performance presented in accordance with GAAP. Our EBITDA, EBITDAre, and Adjusted EBITDAre may not be comparable to the EBITDA, EBITDAre, and Adjusted EBITDAre of other companies due to the fact that not all companies use the same definitions of EBITDA, EBITDAre, and Adjusted EBITDAre. Accordingly, there can be no assurance that our basis for computing these non-GAAP measures is comparable with that of other companies.

58

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

For the Three Months Ended June 30,For the Six Months Ended June 30,($ in thousands)2025202420252024Net income available to common stockholders$140,665 $72,981 $306,182 $215,139 $215,139 Net income available to participating securities222 207 450 399 Non-controlling interests480 243 1,017 679 Interest expense87,414 90,007 171,668 179,852 Interest expense in unconsolidated joint ventures5,943 5,549 11,569 10,784 Depreciation and amortization185,455 176,622 368,601 351,935 Depreciation and amortization of investments in unconsolidated joint ventures3,791 3,358 7,453 6,285 EBITDA423,970 348,967 866,940 765,073 Gain on sale of property, net of tax(46,591)(43,267)(118,257)(93,765)Impairment on depreciated real estate investments36 — 99 60 Net (gain) loss on sale of investments in unconsolidated joint ventures(261)167 (406)(214)EBITDAre377,154 305,867 748,376 671,154 Share-based compensation expense(1)8,464 7,492 18,621 15,392 Severance expense35 89 2,