Company: INVH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001687229-25-000008
Chunk: 275

Company: Invitation Homes Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 9B
Chunk 275
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 been expensed as casualty losses, impairment, and other on our consolidated statement of operations for the year ended December 31, 2024. Remaining unpaid estimated costs totaling $36,400 are reflected in accounts payable and accrued expenses on our consolidated balance sheet as of December 31, 2024. As of December 31, 2024, we have recorded $6,400 of receivables for the portion of the related damages we believe will be recoverable through our property and casualty insurance policies which 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 consolidated financial statements, except as noted below.In August 2021, the Federal Trade Commission (“FTC”) began investigating certain of our business practices. The inquiry related primarily to how we conduct our business generally and how business was conducted during the COVID-19 pandemic specifically. After fully cooperating with the inquiry and extensive negotiations with the FTC, we entered into a stipulated proposed order with the FTC, resolving all aspects of the inquiry without any admission of liability, which became final on September 27, 2024. Pursuant to the stipulated order, we paid $48,000 of monetary relief, with no civil penalties, to the FTC during the year ended December 31, 2024. The full amount of the monetary relief and other costs associated therewith are included in other, net on our consolidated statements of operations.In July 2024, we entered into an agreement which completely resolved the legal dispute entitled City of San Diego et al v. Invitation Homes, Inc., fully releasing INVH without any admission of liability. Pursuant to the settlement agreement, we paid $19,993 during the year ended December 31, 2024. The full settlement amount and other costs associated therewith are included in other, net on our consolidated statements of operations.

 Note 15—Segment Reporting

Our principal business is investment in and management of single-family residential properties for lease. As of December 31, 2024, we wholly own 85,