Company: INVH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001687229-25-000008
Chunk: 182

Company: Invitation Homes Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 15
Chunk 182
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 Term SOFR200,000 March 22, 2023July 9, 2025May 31, 20292.99%One month Term SOFR300,000 During the year ended December 31, 2024, we entered into certain new interest rate swap agreements and terminated others resulting in a net payment to the counterparties of $1,140. There were no such terminations during the year ended December 31, 2023, and during the year ended December 31, 2022, we terminated interest rate swaps or portions thereof and paid counterparties $13,292 in connection with those terminations.During the years ended December 31, 2024, 2023, and 2022, interest rate swap instruments were used to hedge the variable cash flows associated with existing variable-rate interest payments. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. During the next 12 months, we estimate that $25,976 will be reclassified to earnings as a decrease in interest expense.Non-Designated HedgesConcurrent with entering into certain of the mortgage loan agreements, we entered into or acquired and maintained interest rate cap agreements with terms and notional amounts equivalent to the terms and amounts of the mortgage loans made by the third-party lenders. Any such interest rate cap agreement, including all of our rights to payments owed by the counterparties and all other rights, was pledged as additional collateral for the mortgage loan. Additionally, in certain instances, in order to minimize the cash impact of purchasing required interest rate caps, we simultaneously sold interest rate caps (which have identical terms and notional amounts) such that the purchase price and sales proceeds of the related interest rate caps were intended to offset each other. As of December 31, 2024, we did not have any interest rate caps.

F-30

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

Fair Values of Derivative Instruments on the Consolidated Balance SheetsThe table below presents the fair value of our derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2024 and 2023:Asset DerivativesLiability DerivativesFair Value as ofFair Value as ofBalanceSheet LocationDecember 31,2024December 31, 2023BalanceSheet LocationDecember 31,2024December 31