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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net income $ 69,334 $ 73,395
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 167,657 164,001
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 3,697 3,712
Noncash share-based compensation 3,898 2,221
Loss on early extinguishment of debt 0 659
Equity in net losses of unconsolidated joint ventures 1,090 147
Net gain on sale of single-family properties and other (21,416) (19,374)
Loss on impairment of single-family properties and other 5,100 1,433
Other changes in operating assets and liabilities:    
Rent and other receivables (6,420) (2,976)
Prepaid expenses and other assets (2,130) (8,140)
Deferred leasing costs (1,902) (2,129)
Accounts payable and accrued expenses 60,777 74,493
Amounts due from related parties (481) 50
Net cash provided by operating activities 279,204 287,492
Investing activities    
Cash paid for single-family properties (136,772) (71,361)
Change in escrow deposits for purchase of single-family properties 3,344 (198)
Net proceeds received from sales of single-family properties and other 128,883 87,172
Proceeds received from hurricane-related insurance claims 3,705 0
Investment in unconsolidated joint ventures (5,155) (2,265)
Distributions from joint ventures 17,239 6,314
Renovations to single-family properties (8,046) (16,513)
Recurring and other capital expenditures for single-family properties (46,435) (33,331)
Cash paid for development activity (271,670) (139,722)
Other purchases of productive assets (7,559) (129)
Net cash provided by (used for) investing activities (322,466) (170,033)
Financing activities    
Proceeds from exercise of stock options 4,341 10,336
Payments related to tax withholding for share-based compensation (1,626) (2,743)
Payments on asset-backed securitizations (11,763) (10,736)
Distributions to noncontrolling interests (7,779) (5,489)
Distributions to common shareholders/unitholders (45,221) (29,721)
Distributions to preferred shareholders/unitholders (27,564) (13,782)
Deferred financing costs paid 0 (3,572)
Net cash provided by (used for) financing activities 40,388 (7,763)
Net increase (decrease) in cash, cash equivalents and restricted cash (2,874) 109,696
Cash, cash equivalents and restricted cash, beginning of period (see Note 3) 164,119 175,214
Cash, cash equivalents and restricted cash, end of period (see Note 3) 161,245 284,910
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (55,392) (52,980)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 12,614 9,837
Transfers of completed homebuilding deliveries to properties 156,367 51,946
Property and land contributions to unconsolidated joint ventures (18,978) (5,190)
Note receivable related to a bulk sale of properties, net of discount 0 29,474
Accrued distributions to affiliates 0 4,647
Accrued distributions to non-affiliates 32 26,780
American Homes 4 Rent, L.P.    
Operating activities    
Net income 69,334 73,395
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 167,657 164,001
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 3,697 3,712
Noncash share-based compensation 3,898 2,221
Loss on early extinguishment of debt 0 659
Equity in net losses of unconsolidated joint ventures 1,090 147
Net gain on sale of single-family properties and other (21,416) (19,374)
Loss on impairment of single-family properties and other 5,100 1,433
Other changes in operating assets and liabilities:    
Rent and other receivables (6,420) (2,976)
Prepaid expenses and other assets (2,130) (8,140)
Deferred leasing costs (1,902) (2,129)
Accounts payable and accrued expenses 60,777 74,493
Amounts due from related parties (481) 50
Net cash provided by operating activities 279,204 287,492
Investing activities    
Cash paid for single-family properties (136,772) (71,361)
Change in escrow deposits for purchase of single-family properties 3,344 (198)
Net proceeds received from sales of single-family properties and other 128,883 87,172
Proceeds received from hurricane-related insurance claims 3,705 0
Investment in unconsolidated joint ventures (5,155) (2,265)
Distributions from joint ventures 17,239 6,314
Renovations to single-family properties (8,046) (16,513)
Recurring and other capital expenditures for single-family properties (46,435) (33,331)
Cash paid for development activity (271,670) (139,722)
Other purchases of productive assets (7,559) (129)
Net cash provided by (used for) investing activities (322,466) (170,033)
Financing activities    
Proceeds from exercise of stock options 4,341 10,336
Payments related to tax withholding for share-based compensation (1,626) (2,743)
Payments on asset-backed securitizations (11,763) (10,736)
Distributions to common shareholders/unitholders (53,000) (35,210)
Distributions to preferred shareholders/unitholders (27,564) (13,782)
Deferred financing costs paid 0 (3,572)
Net cash provided by (used for) financing activities 40,388 (7,763)
Net increase (decrease) in cash, cash equivalents and restricted cash (2,874) 109,696
Cash, cash equivalents and restricted cash, beginning of period (see Note 3) 164,119 175,214
Cash, cash equivalents and restricted cash, end of period (see Note 3) 161,245 284,910
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (55,392) (52,980)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 12,614 9,837
Transfers of completed homebuilding deliveries to properties 156,367 51,946
Property and land contributions to unconsolidated joint ventures (18,978) (5,190)
Note receivable related to a bulk sale of properties, net of discount 0 29,474
Accrued distributions to affiliates 0 4,647
Accrued distributions to non-affiliates 32 26,780
Delayed Draw Term Loan Facility    
Financing activities    
Payments on revolving credit facility 0 (100,000)
Delayed Draw Term Loan Facility | American Homes 4 Rent, L.P.    
Financing activities    
Payments on revolving credit facility 0 (100,000)
Unsecured Senior Notes    
Financing activities    
Proceeds from unsecured senior notes, net of discount 0 397,944
Unsecured Senior Notes | American Homes 4 Rent, L.P.    
Financing activities    
Proceeds from unsecured senior notes, net of discount 0 397,944
Revolving Credit Facility    
Financing activities    
Proceeds from revolving credit facility 130,000 0
Payments on revolving credit facility 0 (250,000)
Revolving Credit Facility | American Homes 4 Rent, L.P.    
Financing activities    
Proceeds from revolving credit facility 130,000 0
Payments on revolving credit facility $ 0 $ (250,000)