Invitation Homes Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	453.92	519.47	383.33	261.43
Depreciation & Amortization	714.33	674.29	638.11	592.14
Other Amortization	21.36	18.2	16.67	19.37
Gain (Loss) on Sale of Assets	-244.55	-183.54	-90.7	-60.01
Gain (Loss) on Sale of Investments	-1.05	-0.35	3.94	9.42
Asset Writedown	0.51	0.43	0.31	0.65
Stock-Based Compensation	27.92	29.5	28.96	27.17
Income (Loss) on Equity Investments	31.06	20.62	11.43	1.98
Change in Accounts Payable	46.5	24.38	-5.99	32.89
Change in Other Net Operating Assets	-25.61	-12.41	-4.4	-8.13
Other Operating Activities	57.42	16.51	41.92	30.76
Operating Cash Flow	1,082	1,107	1,024	907.66
Operating Cash Flow Growth	-2.28%	8.16%	12.77%	30.28%
Acquisition of Real Estate Assets	-987.94	-1,221	-930.61	-1,427
Sale of Real Estate Assets	585.18	494.42	240.03	231.68
Net Sale / Acq. of Real Estate Assets	-402.76	-726.56	-690.57	-1,196
Investment in Marketable & Equity Securities	1.98	-19.93	-101.13	48.33
Other Investing Activities	-65.09	-27.06	-22.71	-12.37
Investing Cash Flow	-465.87	-773.55	-814.41	-1,160
Short-Term Debt Issued	-	-	-	400
Long-Term Debt Issued	2,994	940.14	1,453	1,938
Total Debt Issued	2,994	940.14	1,453	2,338
Short-Term Debt Repaid	-	-	-	-400
Long-Term Debt Repaid	-3,326	-170.73	-1,542	-1,767
Total Debt Repaid	-3,326	-170.73	-1,542	-2,167
Net Debt Issued (Repaid)	-331.47	769.42	-88.82	171.17
Issuance of Common Stock	-	-	98.37	933.79
Repurchase of Common Stock	-10.89	-8.15	-12.87	-9.41
Common Dividends Paid	-689.24	-638.13	-539.03	-393.81
Total Dividends Paid	-689.24	-638.13	-539.03	-393.81
Other Financing Activities	-62.11	-13.12	-31.76	-42.75
Net Cash Flow	-477.79	443.56	-364.93	407.09
Cash Interest Paid	321.33	290.65	275.73	285.5
Cash Income Tax Paid	0.16	0.25	1.53	0.81
Levered Free Cash Flow	971.91	913.25	855.22	777.4
Unlevered Free Cash Flow	1,179	1,103	1,029	959.7
Change in Working Capital	20.89	11.97	-10.39	24.76

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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