Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 47

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 47
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312 Finance lease cost:Amortization of ROU assets$940 $919 Interest on lease liabilities128 152Total finance lease cost$1,068 $1,071 New-Build CommitmentsWe have entered into binding purchase agreements with certain homebuilders for the purchase of 1,801 homes over the next three years. Remaining commitments under these agreements total approximately $510,000 as of March 31, 2025.

36

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

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 March 31, 2025, there are no material contingent liabilities related to uninsured losses with respect to our properties, except as noted below.Hurricane-Related Losses During the third and fourth quarter of 2024, Hurricanes Milton and Helene damaged certain of our properties in Texas, Florida, Atlanta, and the Carolinas. Remaining unpaid estimated costs totaling approximately $19,600 are reflected in accounts payable and accrued expenses on our condensed consolidated balance sheet as of March 31, 2025. As of March 31, 2025, we have recorded $8,000 of estimated receivables for the portion of the related damages from Hurricanes Milton, Helene, Beryl, and Debbie that we believe will be recoverable through our property and casualty insurance policies. These policies provide coverage for wind and flood damage, as well as business interruption costs during the period of remediation and repairs, subject to specified deductibles and limits.Legal and Other MattersWe are subject to various legal proceedings and claims that arise in the ordinary course of our business as well as congressional and regulatory inquiries and engagements. We accrue a liability when we believe that it is both probable that a liability has been incurred and that we can reasonably estimate the amount of the loss. We do not believe that the final outcome of these proceedings or matters will have a material adverse effect on our condensed consolidated financial statements.

Note 15—Segment Reporting

Our principal business is investment in and management of single-family residential properties for lease. As of March 31, 2025, we wholly own 85,261 homes for lease, jointly own 7,660 homes for lease, and provide