XML 47 R34.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Earnings per Share / Unit (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2018
Earnings Per Share [Abstract] |
Computation of Net Income (Loss) per Share on Basic and Diluted Basis | American Homes 4 Rent The following table reflects the Company's computation of net income or loss per common share on a basic and diluted basis for the three and nine months ended September 30, 2018 and 2017 (in thousands, except share and per share data):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 30,281 |  |  | $ | 19,097 |  |  | $ | 77,704 |  |  | $ | 45,959 |
Less: |  |  |  |  |  |  |
Noncontrolling interest | 2,881 |  |  | 309 |  |  | 845 |  |  | (22 | )
Dividends on preferred shares | 12,223 |  |  | 17,253 |  |  | 38,804 |  |  | 46,122 |
Redemption of participating preferred shares | — |  |  | — |  |  | 32,215 |  |  | — |
Allocation to participating securities (1) | 20 |  |  | 12 |  |  | 66 |  |  | — |
Numerator for basic income (loss) per common share | $ | 15,157 |  |  | $ | 1,523 |  |  | $ | 5,774 |  |  | $ | (141 | )
Add back: |  |  |  |  |  |  |
Dividends on participating preferred shares (2) | — |  |  | 5,569 |  |  | — |  |  | — |
Remeasurement of participating preferred shares (2) | — |  |  | (8,391 | ) |  | — |  |  | — |
Numerator for diluted income (loss) per common share | $ | 15,157 |  |  | $ | (1,299 | ) |  | $ | 5,774 |  |  | $ | (141 | )
Denominator: |  |  |  |  |  |  |
Weighted-average common shares outstanding—basic | 296,214,509 |  |  | 266,767,313 |  |  | 292,656,914 |  |  | 256,768,343 |
Effect of dilutive securities: |  |  |  |  |  |  |
Participating preferred shares (2) | — |  |  | 22,385,747 |  |  | — |  |  | — |
Share-based compensation plan (3) | 753,140 |  |  | — |  |  | 662,331 |  |  | — |
Weighted-average common shares outstanding—diluted (4) | 296,967,649 |  |  | 289,153,060 |  |  | 293,319,245 |  |  | 256,768,343 |
Net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.05 |  |  | $ | 0.01 |  |  | $ | 0.02 |  |  | $ | — |
Diluted | $ | 0.05 |  |  | $ | — |  |  | $ | 0.02 |  |  | $ | — |
(1) | Participating securities include unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock.
(2) | Reflects the dilutive effect of the assumed conversion of participating preferred shares into Class A common shares.
(3) | Reflects the effect of potentially dilutive securities issuable upon the assumed vesting / exercise of restricted stock units and stock options.
(4) | The computation of diluted earnings per share for the three months ended September 30, 2018 and 2017, excludes an aggregate of zero and 7,078,066 potentially dilutive securities, respectively, and for the nine months ended September 30, 2018 and 2017, excludes an aggregate of zero and 29,474,000 potentially dilutive securities, respectively, which include a combination of participating preferred shares, exchangeable senior notes, common shares issuable upon exercise of stock options and unvested restricted stock units, because their effect would have been antidilutive to the respective periods. The effect of the potential conversion of OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Class A common shares on a one-for-one basis. The income allocable to the OP units is allocated on this same basis and reflected as noncontrolling interest in the accompanying consolidated financial statements. As such, the assumed conversion of the OP units would have no net impact on the determination of diluted earnings per share.
American Homes 4 Rent, L.P. The following table reflects the Operating Partnership's computation of net income or loss per common unit on a basic and diluted basis for the three and nine months ended September 30, 2018 and 2017 (in thousands, except unit and per unit data):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 30,281 |  |  | $ | 19,097 |  |  | $ | 77,704 |  |  | $ | 45,959 |
Less: |  |  |  |  |  |  |
Noncontrolling interest | — |  |  | (31 | ) |  | (259 | ) |  | 8 |
Preferred distributions | 12,223 |  |  | 17,253 |  |  | 38,804 |  |  | 46,122 |
Redemption of participating preferred units | — |  |  | — |  |  | 32,215 |  |  | — |
Allocation to participating securities (1) | 21 |  |  | 12 |  |  | 66 |  |  | — |
Numerator for basic income (loss) per common unit | $ | 18,037 |  |  | $ | 1,863 |  |  | $ | 6,878 |  |  | $ | (171 | )
Add back: |  |  |  |  |  |  |
Distributions to participating preferred units (2) | — |  |  | 5,569 |  |  | — |  |  | — |
Remeasurement of participating preferred units (2) | — |  |  | (8,391 | ) |  | — |  |  | — |
Numerator for diluted income (loss) per common unit | $ | 18,037 |  |  | $ | (959 | ) |  | $ | 6,878 |  |  | $ | (171 | )
Denominator: |  |  |  |  |  |  |
Weighted-average common units outstanding—basic | 351,564,662 |  |  | 322,303,138 |  |  | 348,007,067 |  |  | 312,315,728 |
Effect of dilutive securities: |  |  |  |  |  |  |
Participating preferred units (2) | — |  |  | 22,385,747 |  |  | — |  |  | — |
Share-based compensation plan (3) | 753,140 |  |  | — |  |  | 662,331 |  |  | — |
Weighted-average common units outstanding—diluted (4) | 352,317,802 |  |  | 344,688,885 |  |  | 348,669,398 |  |  | 312,315,728 |
Net income (loss) per common unit: |  |  |  |  |  |  |  |  |
Basic | $ | 0.05 |  |  | $ | 0.01 |  |  | $ | 0.02 |  |  | $ | — |
Diluted | $ | 0.05 |  |  | $ | — |  |  | $ | 0.02 |  |  | $ | — |
(1) | Participating securities include unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock.
(2) | Reflects the dilutive effect of the assumed conversion of participating preferred units into Class A common units.
(3) | Reflects the effect of potentially dilutive securities issuable upon the assumed vesting / exercise of restricted stock units and stock options.
(4) | The computation of diluted earnings per unit for the three months ended September 30, 2018 and 2017, excludes an aggregate of zero and 7,078,066 potentially dilutive securities, respectively, and for the nine months ended September 30, 2018 and 2017, excludes an aggregate of zero and 29,474,000 potentially dilutive securities, respectively, which include a combination of participating preferred units, exchangeable senior notes, common units issuable upon exercise of stock options and unvested restricted stock units, because their effect would have been antidilutive to the respective periods.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration