Company: INVH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001687229-25-000008
Chunk: 274

Company: Invitation Homes Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 9B
Chunk 274
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Lease CommitmentsThe following table sets forth our fixed lease payment commitments as a lessee as of December 31, 2024, for the periods below:YearOperatingLeasesFinanceLeases2025$4,402 $3,147 20264,106 3,058 20273,655 2,576 20282,909 707 20292,372 — Thereafter10,698 — Total lease payments28,142 9,488 Less: imputed interest(6,238)(852)Total lease liability$21,904 $8,636  The components of lease expense for the years ended December 31, 2024, 2023, and 2022 are as follows:For the Years Ended December 31,202420232022Operating lease cost:Fixed lease cost$4,225 $3,317 $3,284 Variable lease cost1,574 1,515 1,498 Total operating lease cost$5,799 $4,832 $4,782 Finance lease cost:Amortization of ROU assets$4,006 $2,790 $2,676 Interest on lease liabilities581 375 234 Total finance lease cost$4,587 $3,165 $2,910 New-Build CommitmentsWe have entered into binding purchase agreements with certain homebuilders for the purchase of 2,031 homes over the next three years. Remaining commitments under these agreements total approximately $590,000 as of December 31, 2024.Insurance PoliciesPursuant to the terms of certain of our loan agreements (see Note 7), laws and regulations of the jurisdictions in which our properties are located, and general business practices, we are required to procure insurance on our properties. As of December 31, 2024, there are no material contingent liabilities related to uninsured losses with respect to our properties, except as noted below.

F-40

INVITATION HOMES INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(dollar amounts in thousands)

Hurricane-Related LossesDuring the year ended December 31, 2024, Hurricanes Milton, Beryl, Debby, and Helene damaged certain of our properties in Texas, Florida, Atlanta, and the Carolinas. We estimate that our homes incurred approximately $55,100 of hurricane damage, net of estimated insurance recoveries, which has