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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 100,735 $ 69,334
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 181,188 167,657
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 3,828 3,697
Noncash share-based compensation 11,261 3,898
Equity in net (income) losses of unconsolidated joint ventures (660) 1,090
Gain on sale and impairment of single-family properties and other, net (26,829) (16,316)
Other changes in operating assets and liabilities:    
Rent and other receivables (9,372) (6,420)
Prepaid expenses and other assets 6,870 (2,130)
Deferred leasing costs (1,880) (1,902)
Accounts payable and accrued expenses 66,339 60,777
Amounts due from related parties 307 (481)
Net cash provided by operating activities 331,787 279,204
Investing activities    
Cash paid for single-family properties (279,016) (136,772)
Change in escrow deposits for purchase of single-family properties (9,159) 3,344
Net proceeds received from sales of single-family properties and other 74,451 128,883
Proceeds received from hurricane-related insurance claims 0 3,705
Investment in unconsolidated joint ventures (14,596) (5,155)
Distributions from joint ventures 34,372 17,239
Renovations to single-family properties (13,310) (8,046)
Recurring and other capital expenditures for single-family properties (56,579) (46,435)
Cash paid for development activity (309,706) (271,670)
Other purchases of productive assets (11,615) (7,559)
Net cash used for investing activities (585,158) (322,466)
Financing activities    
Proceeds from issuance of Class A common shares 194,040 0
Payments of Class A common share issuance costs (200) 0
Redemption of perpetual preferred shares/units (498,750) 0
Proceeds from exercise of stock options 2,030 4,341
Payments related to tax withholding for share-based compensation (2,656) (1,626)
Payments on asset-backed securitizations (12,278) (11,763)
Distributions to noncontrolling interests (12,896) (7,779)
Distributions to common shareholders/unitholders (79,881) (45,221)
Distributions to preferred shareholders/unitholders (26,397) (27,564)
Deferred financing costs paid (11,182) 0
Net cash provided by financing activities 171,830 40,388
Net decrease in cash, cash equivalents and restricted cash (81,541) (2,874)
Cash, cash equivalents and restricted cash, beginning of period (see Note 3) 265,077 164,119
Cash, cash equivalents and restricted cash, end of period (see Note 3) 183,536 161,245
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (51,449) (55,392)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 42,795 12,614
Transfers of completed homebuilding deliveries to properties 142,211 156,367
Property and land contributions to unconsolidated joint ventures (30,014) (18,978)
Accrued loss on settlement of cash flow hedging instrument (3,999) 0
Noncash right-of-use assets obtained in exchange for operating lease liabilities 537 2,911
Accrued distributions to non-affiliates 158 32
American Homes 4 Rent, L.P.    
Operating activities    
Net income 100,735 69,334
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 181,188 167,657
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 3,828 3,697
Noncash share-based compensation 11,261 3,898
Equity in net (income) losses of unconsolidated joint ventures (660) 1,090
Gain on sale and impairment of single-family properties and other, net (26,829) (16,316)
Other changes in operating assets and liabilities:    
Rent and other receivables (9,372) (6,420)
Prepaid expenses and other assets 6,870 (2,130)
Deferred leasing costs (1,880) (1,902)
Accounts payable and accrued expenses 66,339 60,777
Amounts due from related parties 307 (481)
Net cash provided by operating activities 331,787 279,204
Investing activities    
Cash paid for single-family properties (279,016) (136,772)
Change in escrow deposits for purchase of single-family properties (9,159) 3,344
Net proceeds received from sales of single-family properties and other 74,451 128,883
Proceeds received from hurricane-related insurance claims 0 3,705
Investment in unconsolidated joint ventures (14,596) (5,155)
Distributions from joint ventures 34,372 17,239
Renovations to single-family properties (13,310) (8,046)
Recurring and other capital expenditures for single-family properties (56,579) (46,435)
Cash paid for development activity (309,706) (271,670)
Other purchases of productive assets (11,615) (7,559)
Net cash used for investing activities (585,158) (322,466)
Financing activities    
Proceeds from issuance of Class A common units 194,040 0
Payments of Class A common unit issuance costs (200) 0
Redemption of perpetual preferred shares/units (498,750) 0
Proceeds from exercise of stock options 2,030 4,341
Payments related to tax withholding for share-based compensation (2,656) (1,626)
Payments on asset-backed securitizations (12,278) (11,763)
Distributions to common shareholders/unitholders (92,777) (53,000)
Distributions to preferred shareholders/unitholders (26,397) (27,564)
Deferred financing costs paid (11,182) 0
Net cash provided by financing activities 171,830 40,388
Net decrease in cash, cash equivalents and restricted cash (81,541) (2,874)
Cash, cash equivalents and restricted cash, beginning of period (see Note 3) 265,077 164,119
Cash, cash equivalents and restricted cash, end of period (see Note 3) 183,536 161,245
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (51,449) (55,392)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 42,795 12,614
Transfers of completed homebuilding deliveries to properties 142,211 156,367
Property and land contributions to unconsolidated joint ventures (30,014) (18,978)
Accrued loss on settlement of cash flow hedging instrument (3,999) 0
Noncash right-of-use assets obtained in exchange for operating lease liabilities 537 2,911
Accrued distributions to non-affiliates 158 32
Revolving Credit Facility    
Financing activities    
Proceeds from revolving credit facility 790,000 130,000
Payments on revolving credit facility (170,000) 0
Revolving Credit Facility | American Homes 4 Rent, L.P.    
Financing activities    
Proceeds from revolving credit facility 790,000 130,000
Payments on revolving credit facility $ (170,000) $ 0