Unsecured notes, net

  
INVITATION HOMES INC.CONSOLIDATED BALANCE SHEETSAs of December 31, 2021 and 2020(in thousands, except shares and per share data)  


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |
|  |  | December 31,2021 |  | December 31, 2020 |
|  |  |  |  |  |
| Assets: |  |  |  |  |
| Investments in single-family residential properties: |  |  |  |  |
| Land |  | $ | 4,737,938  |  |  | $ | 4,539,796  |  |
| Building and improvements |  | 15,270,443  |  |  | 14,261,954  |  |
|  |  | 20,008,381  |  |  | 18,801,750  |  |
| Less: accumulated depreciation |  | (3,073,059) |  |  | (2,513,057) |  |
| Investments in single-family residential properties, net |  | 16,935,322  |  |  | 16,288,693  |  |
| Cash and cash equivalents |  | 610,166  |  |  | 213,422  |  |
| Restricted cash |  | 208,692  |  |  | 198,346  |  |
| Goodwill |  | 258,207  |  |  | 258,207  |  |
| Investments in unconsolidated joint ventures |  | 130,395  |  |  | 69,267  |  |
| Other assets, net |  | 395,064  |  |  | 478,287  |  |
| Total assets |  | $ | 18,537,846  |  |  | $ | 17,506,222  |  |
|  |  |  |  |  |
| Liabilities: |  |  |  |  |
| Mortgage loans, net |  | $ | 3,055,853  |  |  | $ | 4,820,098  |  |
| Secured term loan, net |  | 401,313  |  |  | 401,095  |  |
| Unsecured notes, net |  | 1,921,974  |  |  | —  |  |
| Term loan facility, net |  | 2,478,122  |  |  | 2,470,907  |  |
| Revolving facility |  | —  |  |  | —  |  |
| Convertible senior notes, net |  | 141,397  |  |  | 339,404  |  |
| Accounts payable and accrued expenses |  | 193,633  |  |  | 149,299  |  |
| Resident security deposits |  | 165,167  |  |  | 157,936  |  |
| Other liabilities |  | 341,583  |  |  | 611,410  |  |
| Total liabilities |  | 8,699,042  |  |  | 8,950,149  |  |
| Commitments and contingencies (Note 14) |  |  |  |  |
|  |  |  |  |  |
| Equity: |  |  |  |  |
| Stockholders' equity |  |  |  |  |
| Preferred stock, $0.01 par value per share, 900,000,000 shares authorized, none outstanding as of December 31, 2021 and 2020 |  | —  |  |  | —  |  |
| Common stock, $0.01 par value per share, 9,000,000,000 shares authorized, 601,045,438 and 567,117,666 outstanding as of December 31, 2021 and 2020, respectively |  | 6,010  |  |  | 5,671  |  |
| Additional paid-in capital |  | 10,873,539  |  |  | 9,707,258  |  |
| Accumulated deficit |  | (794,869) |  |  | (661,162) |  |
| Accumulated other comprehensive loss |  | (286,938) |  |  | (546,942) |  |
| Total stockholders' equity |  | 9,797,742  |  |  | 8,504,825  |  |
| Non-controlling interests |  | 41,062  |  |  | 51,248  |  |
| Total equity |  | 9,838,804  |  |  | 8,556,073  |  |
| Total liabilities and equity |  | $ | 18,537,846  |  |  | $ | 17,506,222  |  |

  
The accompanying notes are an integral part of these consolidated financial statements. F-3
