Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 79

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 79
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 non-GAAP measures is comparable with that of other companies.

57

The following table presents a reconciliation of net income (as determined in accordance with GAAP) to FFO, Core FFO, and Adjusted FFO for each of the periods indicated:

For the Three MonthsEnded March 31,(in thousands, except shares and per share data)20252024Net income available to common stockholders$165,517 $142,158 Add (deduct) adjustments from net income to derive FFO:Net income available to participating securities228 192 Non-controlling interests537 436 Depreciation and amortization on real estate assets179,063 171,918 Impairment on depreciated real estate investments63 60 Net gain on sale of previously depreciated investments in real estate(71,666)(50,498)Depreciation and net gain on sale of investments in unconsolidated joint ventures3,498 2,519 FFO277,240 266,785 Non-cash interest expense related to amortization of deferred financing costs, loan discounts, and non-cash interest expense from derivatives(1)3,634 9,217 Share-based compensation expense(2)10,157 7,900 Severance expense2,385 90 Casualty losses and reserves, net(1)4,683 4,082 Losses on investments in equity and other securities, net221 209 Core FFO298,320 288,283 Recurring capital expenditures(1)(37,347)(37,122)Adjusted FFO$260,973 $251,161 Net income available to common stockholdersWeighted average common shares outstanding — diluted(3)(4)613,361,880 613,807,166 Net income per common share — diluted(3)(4)$0.27 $0.23 FFO, Core FFO, and Adjusted FFOWeighted average common shares and OP Units outstanding — diluted(3)(4)615,645,848 615,987,206 FFO per common share — diluted(3)(4)$0.45 $0.43 Core FFO per common share — diluted(3)(4)$0.48 $0.47 AFFO per common share — diluted(3)(4)$0.42 $0.41 

(1)Includes our share from unconsolid