XML 35 R22.htm IDEA: XBRL DOCUMENT v3.21.2
Earnings per Share / Unit
9 Months Ended
Sep. 30, 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 and nine months ended September 30, 2021 and 2020 (in thousands, except share and per share data):
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
 2021202020212020
Numerator:    
Net income$48,501 $40,153 $149,236 $109,487 
Less:
Noncontrolling interest 5,869 3,819 14,012 9,976 
Dividends on preferred shares5,763 13,782 32,160 41,346 
Redemption of perpetual preferred shares— — 15,879 — 
Allocation to participating securities (1)
118 56 300 152 
Numerator for income per common share–basic and diluted$36,751 $22,496 $86,885 $58,013 
Denominator:
Weighted-average common shares outstanding–basic324,002,538 308,080,226 320,267,903 303,319,053 
Effect of dilutive securities:
Share-based compensation plan and forward sale equity contracts (2)
2,203,885 461,276 1,611,332 456,503 
Weighted-average common shares outstanding–diluted (3)
326,206,423 308,541,502 321,879,235 303,775,556 
Net income per common share:
Basic$0.11 $0.07 $0.27 $0.19 
Diluted$0.11 $0.07 $0.27 $0.19 
(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 and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 10).
(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 and nine months ended September 30, 2021 and 2020 (in thousands, except unit and per unit data):
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
 2021202020212020
Numerator:    
Net income$48,501 $40,153 $149,236 $109,487 
Less:
Preferred distributions5,763 13,782 32,160 41,346 
Redemption of perpetual preferred units— — 15,879 — 
Allocation to participating securities (1)
118 56 300 152 
Numerator for income per common unit–basic and diluted$42,620 $26,315 $100,897 $67,989 
Denominator:
Weighted-average common units outstanding–basic375,379,518 360,107,206 371,739,755 355,346,033 
Effect of dilutive securities:
Share-based compensation plan and forward sale equity contracts (2)
2,203,885 461,276 1,611,332 456,503 
Weighted-average common units outstanding–diluted377,583,403 360,568,482 373,351,087 355,802,536 
Net income per common unit:
Basic$0.11 $0.07 $0.27 $0.19 
Diluted$0.11 $0.07 $0.27 $0.19 
(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 and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 10).