XML 42 R32.htm IDEA: XBRL DOCUMENT v3.23.3

Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, RSU and PRSU Activity

The following table summarizes activity related to non-vested time-vesting RSUs and PRSUs, other than Outperformance Awards, during the nine months ended September 30, 2023:

						Time-Vesting Awards												PRSUs												Total Share-Based Awards(1)
						Number						Weighted Average Grant Date Fair Value (Actual $)						Number						Weighted Average Grant Date Fair Value (Actual $)						Number						Weighted Average Grant Date Fair Value (Actual $)
Balance, December 31, 2022						509,872						$	34.54					1,211,571						$	32.08					1,721,443						$	32.81
Granted						350,949						31.67						721,001						30.51						1,071,950						30.89
Vested(2)						(220,208)						(33.06)						(505,933)						(31.54)						(726,141)						(32.00)
Forfeited / canceled						(23,376)						(33.82)						(57,933)						(31.39)						(81,309)						(32.09)
Balance, September 30, 2023						617,237						$	33.46					1,368,706						$	31.48					1,985,943						$	32.09

(1)Total share-based awards excludes Outperformance Awards.

(2)All vested share-based awards are included in basic EPS for the periods after each award’s vesting date. The estimated aggregate fair value of share-based awards that fully vested during the nine months ended September 30, 2023 was $23,265. During the nine months ended September 30, 2023, 5,306 RSUs were accelerated pursuant to the terms and conditions of the Omnibus Incentive Plan and related award agreements.

Schedule of Grant-Date Fair Values

The following table summarizes the significant inputs utilized in these models for such awards granted or modified during the nine months ended September 30, 2023:

						For the Nine Months Ended September 30, 2023
Expected volatility(1)						20.5% — 30.0%
Risk-free rate						4.31% — 4.62%
Expected holding period (years)						1.00 — 2.84

(1)Expected volatility was estimated based on the historical volatility of INVH’s realized returns and of the applicable index.

Schedule of Share-Based Compensation Expense

During the three and nine months ended September 30, 2023 and 2022, we recognized share-based compensation expense as follows:

						For the Three Months Ended September 30,												For the Nine Months Ended September 30,
						2023						2022						2023						2022
General and administrative						$	7,099					$	6,169					$	16,261					$	17,584
Property management expense						1,830						1,761						5,232						4,981
Total						$	8,929					$	7,930					$	21,493					$	22,565

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration