XML 17 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Sep. 30, 2016
Sep. 30, 2015
Operating activities        
Net income $ 11,796 $ 5,028    
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 73,953 69,517    
Noncash amortization of deferred financing costs 2,562 2,838    
Noncash amortization of discount on exchangeable senior notes 840 290    
Noncash amortization of discount on ARP 2014-SFR1 securitization 0 286    
Noncash share-based compensation 938 870 $ 1,000 $ 1,000
Provision for bad debt 1,510 1,069    
Gain on conversion of Series E units to Series D units 0 (11,463)    
Remeasurement of participating preferred shares 5,410 300    
Equity in net (earnings) loss of unconsolidated ventures (295) 232    
Net gain on sale of single-family properties and other (2,026) (234)    
Loss on impairment of single-family properties 929 174    
Net gain on resolutions of mortgage loans (15) 0    
Other changes in operating assets and liabilities:        
Rent and other receivables (2,657) (3,277)    
Prepaid expenses and other assets (8,356) 659    
Deferred leasing costs (1,482) (1,929)    
Accounts payable and accrued expenses 22,050 9,159    
Amounts payable to affiliates 4,880 (4,946)    
Net cash provided by operating activities 110,037 68,573    
Investing activities        
Cash paid for single-family properties (73,622) (34,181)    
Change in escrow deposits for purchase of single-family properties (1,072) (467)    
Cash acquired in noncash business combinations 0 25,020    
Payoff of credit facility in connection with ARPI merger 0 (350,000)    
Net proceeds received from sales of single-family properties and other 31,306 7,582    
Collections from mortgage financing receivables 70 0    
Distributions from unconsolidated joint ventures 1,192 0    
Renovations to single-family properties (7,677) (12,118)    
Other capital expenditures for single-family properties (6,484) (4,526)    
Other purchases of productive assets (13,710) 0    
Net cash used for investing activities (69,997) (368,690)    
Financing activities        
Proceeds from issuance of Class A common shares 350,612 1    
Payments of Class A common share issuance costs (236) 0    
Proceeds from exercise of stock options 258 337    
Repurchase of Class A common shares 0 (76,045)    
Redemptions of Class A units 0 (291)    
Payments on asset-backed securitizations (6,231) (6,381)    
Proceeds from revolving credit facility 0 521,000    
Payments on revolving credit facility 0 (83,000)    
Proceeds from term loan facility 25,000 0    
Payments on secured note payable (245) (230)    
Distributions to noncontrolling interests (2,779) (2,991)    
Distributions to common shareholders (12,214) (12,122)    
Distributions to preferred shareholders (13,587) (5,569)    
Deferred financing costs paid 0 (40)    
Net cash provided by financing activities 340,578 334,669    
Net increase in cash, cash equivalents and restricted cash 380,618 34,552    
Cash, cash equivalents and restricted cash, beginning of period 250,241 168,968 $ 168,968  
Cash, cash equivalents and restricted cash, end of period (see Note 3) 630,859 203,520    
Supplemental cash flow information        
Cash payments for interest, net of amounts capitalized (28,487) (27,849)    
Supplemental schedule of noncash investing and financing activities        
Accounts payable and accrued expenses related to property acquisitions and renovations (951) (1,013)    
Note receivable 5,483 0    
American Residential Properties Inc.        
Merger with ARPI        
Single-family properties 0 1,277,253    
Restricted cash 0 9,521    
Rent and other receivables, net 0 843    
Escrow deposits, prepaid expenses and other assets 0 35,134    
Deferred costs and other intangibles, net 0 22,696    
Accounts payable and accrued expenses 0 (38,485)    
Asset-backed securitization | American Residential Properties Inc.        
Merger with ARPI        
Debt assumed or extinguished 0 (329,703)    
Secured Notes Payable | American Residential Properties Inc.        
Merger with ARPI        
Debt assumed or extinguished 0 (112,298)    
Class A common shares | American Residential Properties Inc.        
Merger with ARPI        
Class A common shares and units issued $ 0 $ (530,460)