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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 48,921 $ 37,527
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 90,071 82,821
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 1,829 1,849
Noncash share-based compensation 8,110 1,808
Equity in net (income) losses of unconsolidated joint ventures (366) 1,231
Gain on sale and impairment of single-family properties and other, net (16,069) (6,319)
Other changes in operating assets and liabilities:    
Rent and other receivables (8,170) (3,746)
Prepaid expenses and other assets 5,742 (5,980)
Deferred leasing costs (975) (910)
Accounts payable and accrued expenses 23,242 18,397
Amounts due from related parties (338) (182)
Net cash provided by operating activities 151,997 126,496
Investing activities    
Cash paid for single-family properties (82,118) (102,575)
Change in escrow deposits for purchase of single-family properties (5,341) 2,259
Net proceeds received from sales of single-family properties and other 46,304 81,257
Proceeds received from hurricane-related insurance claims 0 3,408
Investment in unconsolidated joint ventures (7,990) (1,000)
Distributions from joint ventures 25,893 887
Renovations to single-family properties (9,069) (858)
Recurring and other capital expenditures for single-family properties (26,033) (21,224)
Cash paid for development activity (141,618) (138,957)
Other purchases of productive assets (8,258) (2,411)
Net cash provided by (used for) investing activities (208,230) (179,214)
Financing activities    
Proceeds from exercise of stock options 1,121 1,449
Payments related to tax withholding for share-based compensation (2,642) (1,612)
Payments on asset-backed securitizations (6,118) (5,435)
Distributions to noncontrolling interests (7,758) (5,178)
Distributions to common shareholders/unitholders (47,561) (30,114)
Distributions to preferred shareholders/unitholders (13,782) (13,782)
Net cash provided by (used for) financing activities 3,260 50,328
Net increase in cash, cash equivalents and restricted cash (52,973) (2,390)
Cash, cash equivalents and restricted cash, beginning of period 265,077 164,119
Cash, cash equivalents and restricted cash, end of period 212,104 161,729
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (36,388) (37,987)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 31,854 9,618
Transfers of completed homebuilding deliveries to properties 72,862 75,498
Property and land contributions to unconsolidated joint ventures (23,835) (9,835)
Unrealized gain on cash flow hedging instrument 9,230 0
Noncash right-of-use assets obtained in exchange for operating lease liabilities 537 1,603
Accrued distributions to non-affiliates 105 41
American Homes 4 Rent, L.P.    
Operating activities    
Net income 48,921 37,527
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 90,071 82,821
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 1,829 1,849
Noncash share-based compensation 8,110 1,808
Equity in net (income) losses of unconsolidated joint ventures (366) 1,231
Gain on sale and impairment of single-family properties and other, net (16,069) (6,319)
Other changes in operating assets and liabilities:    
Rent and other receivables (8,170) (3,746)
Prepaid expenses and other assets 5,742 (5,980)
Deferred leasing costs (975) (910)
Accounts payable and accrued expenses 23,242 18,397
Amounts due from related parties (338) (182)
Net cash provided by operating activities 151,997 126,496
Investing activities    
Cash paid for single-family properties (82,118) (102,575)
Change in escrow deposits for purchase of single-family properties (5,341) 2,259
Net proceeds received from sales of single-family properties and other 46,304 81,257
Proceeds received from hurricane-related insurance claims 0 3,408
Investment in unconsolidated joint ventures (7,990) (1,000)
Distributions from joint ventures 25,893 887
Renovations to single-family properties (9,069) (858)
Recurring and other capital expenditures for single-family properties (26,033) (21,224)
Cash paid for development activity (141,618) (138,957)
Other purchases of productive assets (8,258) (2,411)
Net cash provided by (used for) investing activities (208,230) (179,214)
Financing activities    
Proceeds from exercise of stock options 1,121 1,449
Payments related to tax withholding for share-based compensation (2,642) (1,612)
Payments on asset-backed securitizations (6,118) (5,435)
Distributions to common shareholders/unitholders (55,319) (35,292)
Distributions to preferred shareholders/unitholders (13,782) (13,782)
Net cash provided by (used for) financing activities 3,260 50,328
Net increase in cash, cash equivalents and restricted cash (52,973) (2,390)
Cash, cash equivalents and restricted cash, beginning of period 265,077 164,119
Cash, cash equivalents and restricted cash, end of period 212,104 161,729
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (36,388) (37,987)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 31,854 9,618
Transfers of completed homebuilding deliveries to properties 72,862 75,498
Property and land contributions to unconsolidated joint ventures (23,835) (9,835)
Unrealized gain on cash flow hedging instrument 9,230 0
Noncash right-of-use assets obtained in exchange for operating lease liabilities 537 1,603
Accrued distributions to non-affiliates 105 41
Revolving Credit Facility    
Financing activities    
Proceeds from revolving credit facility 80,000 105,000
Revolving Credit Facility | American Homes 4 Rent, L.P.    
Financing activities    
Proceeds from revolving credit facility $ 80,000 $ 105,000