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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income $ 109,487 $ 114,796
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 254,653 246,074
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 5,564 5,588
Noncash share-based compensation 6,068 3,509
Loss on early extinguishment of debt 0 659
Equity in net losses (income) of unconsolidated joint ventures 963 (771)
Net gain on sale of single-family properties and other (33,838) (32,895)
Loss on impairment of single-family properties and other 5,316 3,083
Other changes in operating assets and liabilities:    
Rent and other receivables (20,997) (9,468)
Prepaid expenses and other assets 7,879 (2,741)
Deferred leasing costs (3,059) (3,244)
Accounts payable and accrued expenses 96,401 95,502
Amounts due from related parties (1,026) 323
Net cash provided by operating activities 427,411 420,415
Investing activities    
Cash paid for single-family properties (170,633) (77,883)
Change in escrow deposits for purchase of single-family properties 2,604 (4,543)
Net proceeds received from sales of single-family properties and other 185,033 151,502
Proceeds received from hurricane-related insurance claims 3,705 2,171
Investment in unconsolidated joint ventures (15,667) (4,768)
Distributions from joint ventures 81,153 17,393
Renovations to single-family properties (11,022) (19,332)
Recurring and other capital expenditures for single-family properties (79,077) (52,067)
Cash paid for development activity (420,496) (236,398)
Other purchases of productive assets (12,692) (171)
Net cash provided by (used for) investing activities (437,092) (224,096)
Proceeds from issuance of stock 414,100 0
Offering cost (600) 0
Financing activities    
Proceeds from exercise of stock options 5,599 11,105
Payments related to tax withholding for share-based compensation (1,638) (834)
Payments on asset-backed securitizations (17,110) (16,287)
Distributions to noncontrolling interests (10,381) (10,701)
Distributions to common shareholders/unitholders (61,035) (59,832)
Distributions to preferred shareholders/unitholders (41,346) (41,346)
Deferred financing costs paid 0 (3,572)
Net cash provided by (used for) financing activities 287,589 (73,523)
Net increase in cash, cash equivalents and restricted cash 277,908 122,796
Cash, cash equivalents and restricted cash, beginning of period 164,119 175,214
Cash, cash equivalents and restricted cash, end of period 442,027 298,010
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (93,261) (93,901)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 14,861 14,822
Transfers of completed homebuilding deliveries to properties 263,329 107,445
Property and land contributions to unconsolidated joint ventures (79,370) (18,599)
Note receivable related to a bulk sale of properties, net of discount 0 29,474
Accrued distributions to non-affiliates 32 59
American Homes 4 Rent, L.P.    
Operating activities    
Net income 109,487 114,796
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 254,653 246,074
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 5,564 5,588
Noncash share-based compensation 6,068 3,509
Loss on early extinguishment of debt 0 659
Equity in net losses (income) of unconsolidated joint ventures 963 (771)
Net gain on sale of single-family properties and other (33,838) (32,895)
Loss on impairment of single-family properties and other 5,316 3,083
Other changes in operating assets and liabilities:    
Rent and other receivables (20,997) (9,468)
Prepaid expenses and other assets 7,879 (2,741)
Deferred leasing costs (3,059) (3,244)
Accounts payable and accrued expenses 96,401 95,502
Amounts due from related parties (1,026) 323
Net cash provided by operating activities 427,411 420,415
Investing activities    
Cash paid for single-family properties (170,633) (77,883)
Change in escrow deposits for purchase of single-family properties 2,604 (4,543)
Net proceeds received from sales of single-family properties and other 185,033 151,502
Proceeds received from hurricane-related insurance claims 3,705 2,171
Investment in unconsolidated joint ventures (15,667) (4,768)
Distributions from joint ventures 81,153 17,393
Renovations to single-family properties (11,022) (19,332)
Recurring and other capital expenditures for single-family properties (79,077) (52,067)
Cash paid for development activity (420,496) (236,398)
Other purchases of productive assets (12,692) (171)
Net cash provided by (used for) investing activities (437,092) (224,096)
Financing activities    
Proceeds from issuance of Class A common units 414,100 0
Payments of Class A common unit issuance costs (600) 0
Proceeds from exercise of stock options 5,599 11,105
Payments related to tax withholding for share-based compensation (1,638) (834)
Payments on asset-backed securitizations (17,110) (16,287)
Distributions to common shareholders/unitholders (71,416) (70,533)
Distributions to preferred shareholders/unitholders (41,346) (41,346)
Deferred financing costs paid 0 (3,572)
Net cash provided by (used for) financing activities 287,589 (73,523)
Net increase in cash, cash equivalents and restricted cash 277,908 122,796
Cash, cash equivalents and restricted cash, beginning of period 164,119 175,214
Cash, cash equivalents and restricted cash, end of period 442,027 298,010
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (93,261) (93,901)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 14,861 14,822
Transfers of completed homebuilding deliveries to properties 263,329 107,445
Property and land contributions to unconsolidated joint ventures (79,370) (18,599)
Note receivable related to a bulk sale of properties, net of discount 0 29,474
Accrued distributions to non-affiliates 32 59
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 (130,000) (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 $ (130,000) $ (250,000)