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Earnings per Share / Unit
 3 Months Ended
Mar. 31, 2021
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 months ended March 31, 2021 and 2020 (in thousands, except share and per share data):

For the Three Months Ended
March 31,
 20212020
Numerator:  
Net income$48,921 $37,527 
Less:
Noncontrolling interest 4,925 3,501 
Dividends on preferred shares13,782 13,782 
Allocation to participating securities (1)
93 54 
Numerator for income per common share–basic and diluted$30,121 $20,190 
Denominator:
Weighted-average common shares outstanding–basic316,982,460 300,813,069 
Effect of dilutive securities:
Share-based compensation plan (2)
458,937 491,999 
Weighted-average common shares outstanding–diluted (3)
317,441,397 301,305,068 
Net income per common share:
Basic$0.10 $0.07 
Diluted$0.09 $0.07 
(1)Unvested RSUs 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. In accordance with the treasury stock method, for the three months ended March 31, 2021, 10,071 weighted-average PSUs related to the TSR Awards were excluded because their effects were anti-dilutive and PSUs related to the Core FFO Awards were excluded because the performance criteria were not met as of the end of the reporting period.
(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 months ended March 31, 2021 and 2020 (in thousands, except unit and per unit data):

For the Three Months Ended
March 31,
 20212020
Numerator:  
Net income$48,921 $37,527 
Less:
Preferred distributions13,782 13,782 
Allocation to participating securities (1)
93 54 
Numerator for income per common unit–basic and diluted$35,046 $23,691 
Denominator:
Weighted-average common units outstanding–basic368,647,217 352,840,049 
Effect of dilutive securities:
Share-based compensation plan (2)
458,937 491,999 
Weighted-average common units outstanding–diluted369,106,154 353,332,048 
Net income per common unit:
Basic$0.10 $0.07 
Diluted$0.09 $0.07 
(1)Unvested RSUs 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 unit using the two-class method.
(2)Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options. In accordance with the treasury stock method, for the three months ended March 31, 2021, 10,071 weighted-average PSUs related to the TSR Awards were excluded because their effects were anti-dilutive and PSUs related to the Core FFO Awards were excluded because the performance criteria were not met as of the end of the reporting period.