Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 132

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 132
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30, 2025 and 2024, respectively, are included in weighted average common shares outstanding in the calculation of net income per common share — diluted. For the computations of FFO, Core FFO, and AFFO per common share — diluted, common share equivalents of 627,961 and 1,447,702 for the three months ended June 30, 2025 and 2024, respectively, and  758,597 and 1,671,024 for the six months ended June 30, 2025 and 2024, respectively, related to incremental shares attributed to non-vested share-based awards are included in the denominator.

(5)Vested units of partnership interests in INVH LP (“OP Units”) have been excluded from the computation of net income per common share — diluted for the periods above because all net income attributable to the vested OP Units has been recorded as non-controlling interest and thus excluded from net income available to common stockholders. Weighted average vested OP Units of 2,095,013 and 1,984,943 for the three months ended June 30, 2025 and 2024, respectively, and 2,031,655 and 1,929,142 for the six months ended June 30, 2025 and 2024, respectively, are included in the denominator for the computations of FFO, Core FFO, and AFFO per common share — diluted.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Our future income, cash flows, and fair values relevant to financial instruments are dependent upon prevalent market interest rates. Market risk refers to the risk of loss from adverse changes in interest rates, seasonality, market prices, commodity prices, and inflation. The primary market risks to which we are exposed are interest rate risk and seasonality. We may in the future use derivative financial instruments to manage, or hedge, interest rate risks related to any borrowings we may have. We may enter into such contracts only with major financial institutions based on their credit ratings and other factors.

Interest Rate Risk

A primary market risk to which we believe we are exposed is interest rate risk, which may result from many factors, including government monetary and tax policies, fluctuating global and United States economic conditions (including inflation, elevated interest rates, and bank failures), geopolitical tensions, and other factors that are beyond our control. We may incur additional variable rate debt in the