Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 17

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 17
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, of capitalized acquisition costs (excluding purchase price), along with $79,205 and $78,776, respectively, of capitalized interest, $31,747 and $31,718, respectively, of capitalized property taxes, $5,204 and $5,202, respectively, of capitalized insurance, and $3,782 and $3,745, respectively, capitalized homeowners’ association (“HOA”) fees.During the three months ended March 31, 2025 and 2024, we recognized $179,063, and $171,918, respectively, of depreciation expense related to the components of the properties, and $4,083, and $3,395, respectively, of depreciation and amortization related to corporate furniture and equipment. These amounts are included in depreciation and amortization in the condensed consolidated statements of operations. Further, during the three months ended March 31, 2025 and 2024, impairments totaling $63, and $60, respectively, have been recognized and are included in casualty losses, impairment, and other in the condensed consolidated statements of operations. See Note 11 for additional information regarding these impairments.

Note 4—Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the condensed consolidated balance sheets that sum to the total of such amounts shown in the condensed consolidated statements of cash flows:March 31,2025December 31, 2024Cash and cash equivalents$84,387 $174,491 Restricted cash234,243 245,202 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows$318,630 $419,693  Pursuant to the terms of the Secured Debt loans (as defined in Note 7), we are required to establish, maintain, and fund from time to time (generally, either monthly or at the time borrowings are funded) certain specified reserve accounts. These reserve accounts include, but are not limited to, the following types of accounts: (i) property tax reserves; (ii) insurance reserves; (iii) capital expenditure reserves; and (iv) HOA reserves. The reserve accounts associated with our Secured Debt loans are under the sole control of the loan servicer. Additionally, we hold security deposits pursuant to resident lease agreements that we are required to segregate. We also hold deposits for certain tax deferred property exchange transactions and letters of credit