Company: INVH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001687229-25-000008
Chunk: 15

Company: Invitation Homes Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 15
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31, 2024 and 2023, respectively. During the year ended December 31, 2024, casualty losses, impairment, and other expenses were comprised of net casualty losses of $82.4 million, including the recognition of $55.1 million for estimated losses and damages related to Hurricanes Milton, Beryl, Debby, and Helene, net of estimated insurance proceeds, additional storm activity unrelated to hurricanes during the year, and impairment losses of $0.5 million on our single-family residential properties. During the year ended December 31, 2023, impairment and other expenses were comprised of $8.2 million of net casualty losses and $0.4 million of impairment losses on our single-family residential properties.

64

Gains (Losses) on Investments in Equity and Other Securities, net

For the year ended December 31, 2024, $1.0 million of gains on investments in equity and other securities, net was comprised of a $1.6 million net realized gain from exercised warrants, partially offset by $0.6 million of net unrealized losses recognized since December 31, 2023 on investments held as of December 31, 2024. For the year ended December 31, 2023, $0.4 million gains on investments in equity and other securities, net was comprised of net unrealized gains recognized on investments held as of December 31, 2023.

Other, net

Other, net increased to $54.0 million of expense for the year ended December 31, 2024 from $2.4 million of expense for the year ended December 31, 2023, primarily due to settlement and other costs incurred in connection with the resolution of an inquiry from the FTC and the legal dispute entitled City of San Diego et al v. Invitation Homes, Inc.

Gain on Sale of Property, net of tax

Gain on sale of property, net of tax was $244.6 million and $183.5 million for the years ended December 31, 2024 and 2023, respectively. An increase of 78 sold homes and an increase in the net proceeds per home sold for the year ended December 31, 2023 compared to the year ended December 31, 2024 were the drivers of the increase.

Losses from Investments in Unconsolidated Joint Ventures

Our share of equity in earnings and/or losses from uncons