Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 19

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 19
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. For the six months ended June 30, 2024, gains on investments in equity and other securities, net of  $1.3 million was comprised of a $1.6 million net realized gain from exercised warrants and $0.3 million net unrealized losses recognized on investment held as of June 30, 2024.

Other, net

Other, net decreased to $0.8 million of expense for the six months ended June 30, 2025 from $48.0 million of expense for the six months ended June 30, 2024, primarily due to a $22.0 million accrual for a settlement that resolved the legal dispute entitled City of San Diego et al v. Invitation Homes, Inc., inclusive of associated costs, as well as a $37.5 million accrual for an estimated probable loss with respect to an inquiry from the FTC that was ongoing as of June 30, 2024 and subsequently settled during the third quarter of 2024.

Gain on Sale of Property, net of tax

Gain on sale of property, net of tax was $118.3 million and $93.8 million for the six months ended June 30, 2025 and 2024, respectively. An increase in the number of homes sold from 627 for the six months ended June 30, 2024 to 749 for the six months ended June 30, 2025 was the primary driver of the increase.

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Losses from Investments in Unconsolidated Joint Ventures

Our share of losses from unconsolidated joint ventures was $10.0 million and $10.6 million for the six months ended June 30, 2025 and 2024, respectively, with no significant fluctuations between periods.

Liquidity and Capital Resources

Our liquidity and capital resources as of June 30, 2025 and December 31, 2024 include unrestricted cash and cash equivalents of $65.1 million and $174.5 million, respectively, a 62.7% decrease primarily due to acquisitions of homes. As of June 30, 2025, $1,210.0 million of our Revolving Facility is undrawn, and there are no restrictions on our ability to draw funds thereunder provided we remain in compliance with all covenants. We have no debt reaching final maturity until June 2027.

Amendment of 2022