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Earnings per Share / Unit | 6 Months Ended
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Jun. 30, 2020
Earnings Per Share [Abstract] |
Earnings per Share / Unit | Earnings per Share / Unit American Homes 4 Rent The following table reflects the Company’s computation of net income per common share on a basic and diluted basis for the three and six months ended June 30, 2020 and 2019 (in thousands, except share and per share data):
| For the Three Months Ended |  |  |  | For the Six Months Ended |  |
| June 30, 2020 |  | June 30, 2019 |  | June 30, 2020 |  | June 30, 2019
Numerator: |  |  |  |  |  |  |
Net income | $ | 31,807 |  |  | $ | 40,304 |  |  | $ | 69,334 |  |  | $ | 73,395 |
Less: |  |  |  |  |  |  |
Noncontrolling interest | 2,656 |  |  | 4,004 |  |  | 6,157 |  |  | 7,030 |
Dividends on preferred shares | 13,782 |  |  | 13,782 |  |  | 27,564 |  |  | 27,564 |
Allocation to participating securities (1) | 42 |  |  | 45 |  |  | 96 |  |  | 75 |
Numerator for income per common share–basic and diluted | $ | 15,327 |  |  | $ | 22,473 |  |  | $ | 35,517 |  |  | $ | 38,726 |
Denominator: |  |  |  |  |  |  |
Weighted-average common shares outstanding–basic | 301,011,545 |  |  | 299,466,526 |  |  | 300,912,307 |  |  | 298,157,413 |
Effect of dilutive securities: |  |  |  |  |  |  |
Share-based compensation plan (2) | 400,698 |  |  | 524,558 |  |  | 446,462 |  |  | 519,375 |
Weighted-average common shares outstanding–diluted (3) | 301,412,243 |  |  | 299,991,084 |  |  | 301,358,769 |  |  | 298,676,788 |
Net income per common share: |  |  |  |  |  |  |
Basic | $ | 0.05 |  |  | $ | 0.08 |  |  | $ | 0.12 |  |  | $ | 0.13 |
Diluted | $ | 0.05 |  |  | $ | 0.08 |  |  | $ | 0.12 |  |  | $ | 0.13 |
(1)Unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per share using the two-class method. (2)Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options. (3)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 condensed 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 per common unit on a basic and diluted basis for the three and six months ended June 30, 2020 and 2019 (in thousands, except unit and per unit data):
| For the Three Months Ended |  |  |  | For the Six Months Ended |  |
| June 30, 2020 |  | June 30, 2019 |  | June 30, 2020 |  | June 30, 2019
Numerator: |  |  |  |  |  |  |
Net income | $ | 31,807 |  |  | $ | 40,304 |  |  | $ | 69,334 |  |  | $ | 73,395 |
Less: |  |  |  |  |  |  |
Preferred distributions | 13,782 |  |  | 13,782 |  |  | 27,564 |  |  | 27,564 |
Allocation to participating securities (1) | 42 |  |  | 45 |  |  | 96 |  |  | 75 |
Numerator for income per common unit–basic and diluted | $ | 17,983 |  |  | $ | 26,477 |  |  | $ | 41,674 |  |  | $ | 45,756 |
Denominator: |  |  |  |  |  |  |
Weighted-average common units outstanding–basic | 353,038,525 |  |  | 352,363,754 |  |  | 352,939,287 |  |  | 352,183,171 |
Effect of dilutive securities: |  |  |  |  |  |  |
Share-based compensation plan (2) | 400,698 |  |  | 524,558 |  |  | 446,462 |  |  | 519,375 |
Weighted-average common units outstanding–diluted | 353,439,223 |  |  | 352,888,312 |  |  | 353,385,749 |  |  | 352,702,546 |
Net income per common unit: |  |  |  |  |  |  |
Basic | $ | 0.05 |  |  | $ | 0.08 |  |  | $ | 0.12 |  |  | $ | 0.13 |
Diluted | $ | 0.05 |  |  | $ | 0.08 |  |  | $ | 0.12 |  |  | $ | 0.13 |
(1)Unvested restricted stock units that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per share using the two-class method. (2)Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options.

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