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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 149,236 $ 109,487
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 275,682 254,653
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 6,290 5,564
Noncash share-based compensation 14,319 6,068
Equity in net (income) losses of unconsolidated joint ventures (875) 963
Gain on sale and impairment of single-family properties and other, net (36,401) (28,522)
Other changes in operating assets and liabilities:    
Rent and other receivables (13,863) (20,997)
Prepaid expenses and other assets 11,247 7,879
Deferred leasing costs (2,672) (3,059)
Accounts payable and accrued expenses 95,471 96,401
Amounts due from related parties (241) (1,026)
Net cash provided by operating activities 498,193 427,411
Investing activities    
Cash paid for single-family properties (633,794) (170,633)
Change in escrow deposits for purchase of single-family properties (26,818) 2,604
Net proceeds received from sales of single-family properties and other 101,411 185,033
Proceeds received from hurricane-related insurance claims 1,993 3,705
Investment in unconsolidated joint ventures (20,742) (15,667)
Distributions from joint ventures 46,927 81,153
Renovations to single-family properties (28,234) (11,022)
Recurring and other capital expenditures for single-family properties (90,413) (79,077)
Cash paid for development activity (524,884) (420,496)
Other purchases of productive assets (16,907) (12,692)
Net cash used for investing activities (1,191,461) (437,092)
Financing activities    
Proceeds from issuance of Class A common shares 593,040 414,100
Payments of Class A common share issuance costs (200) (600)
Redemption of perpetual preferred shares/units (498,750) 0
Proceeds from exercise of stock options 4,094 5,599
Payments related to tax withholding for share-based compensation (2,666) (1,638)
Payments on asset-backed securitizations (18,061) (17,110)
Settlement of cash flow hedging instrument (3,999) 0
Distributions to noncontrolling interests (18,033) (10,381)
Distributions to common shareholders/unitholders (112,278) (61,035)
Distributions to preferred shareholders/unitholders (32,160) (41,346)
Deferred financing costs paid (17,997) 0
Net cash provided by financing activities 630,185 287,589
Net (decrease) increase in cash, cash equivalents and restricted cash (63,083) 277,908
Cash, cash equivalents and restricted cash, beginning of period 265,077 164,119
Cash, cash equivalents and restricted cash, end of period 201,994 442,027
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (85,472) (93,261)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 37,877 14,861
Transfers of completed homebuilding deliveries to properties 252,218 263,329
Property and land contributions to unconsolidated joint ventures (43,814) (79,370)
Noncash right-of-use assets obtained in exchange for operating lease liabilities 989 3,254
Accrued distributions to non-affiliates 166 32
Unsecured Senior Notes    
Financing activities    
Proceeds from unsecured senior notes, net of discount 737,195 0
American Homes 4 Rent, L.P.    
Operating activities    
Net income 149,236 109,487
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 275,682 254,653
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instrument 6,290 5,564
Noncash share-based compensation 14,319 6,068
Equity in net (income) losses of unconsolidated joint ventures (875) 963
Gain on sale and impairment of single-family properties and other, net (36,401) (28,522)
Other changes in operating assets and liabilities:    
Rent and other receivables (13,863) (20,997)
Prepaid expenses and other assets 11,247 7,879
Deferred leasing costs (2,672) (3,059)
Accounts payable and accrued expenses 95,471 96,401
Amounts due from related parties (241) (1,026)
Net cash provided by operating activities 498,193 427,411
Investing activities    
Cash paid for single-family properties (633,794) (170,633)
Change in escrow deposits for purchase of single-family properties (26,818) 2,604
Net proceeds received from sales of single-family properties and other 101,411 185,033
Proceeds received from hurricane-related insurance claims 1,993 3,705
Investment in unconsolidated joint ventures (20,742) (15,667)
Distributions from joint ventures 46,927 81,153
Renovations to single-family properties (28,234) (11,022)
Recurring and other capital expenditures for single-family properties (90,413) (79,077)
Cash paid for development activity (524,884) (420,496)
Other purchases of productive assets (16,907) (12,692)
Net cash used for investing activities (1,191,461) (437,092)
Financing activities    
Proceeds from issuance of Class A common units 593,040 414,100
Payments of Class A common unit issuance costs (200) (600)
Redemption of perpetual preferred shares/units (498,750) 0
Proceeds from exercise of stock options 4,094 5,599
Payments related to tax withholding for share-based compensation (2,666) (1,638)
Payments on asset-backed securitizations (18,061) (17,110)
Settlement of cash flow hedging instrument (3,999) 0
Distributions to common shareholders/unitholders (130,311) (71,416)
Distributions to preferred shareholders/unitholders (32,160) (41,346)
Deferred financing costs paid (17,997) 0
Net cash provided by financing activities 630,185 287,589
Net (decrease) increase in cash, cash equivalents and restricted cash (63,083) 277,908
Cash, cash equivalents and restricted cash, beginning of period 265,077 164,119
Cash, cash equivalents and restricted cash, end of period 201,994 442,027
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (85,472) (93,261)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 37,877 14,861
Transfers of completed homebuilding deliveries to properties 252,218 263,329
Property and land contributions to unconsolidated joint ventures (43,814) (79,370)
Noncash right-of-use assets obtained in exchange for operating lease liabilities 989 3,254
Accrued distributions to non-affiliates 166 32
American Homes 4 Rent, L.P. | Unsecured Senior Notes    
Financing activities    
Proceeds from unsecured senior notes, net of discount 737,195 0
Revolving Credit Facility    
Financing activities    
Proceeds from revolving credit facility 1,060,000 130,000
Payments on revolving credit facility (1,060,000) (130,000)
Revolving Credit Facility | American Homes 4 Rent, L.P.    
Financing activities    
Proceeds from revolving credit facility 1,060,000 130,000
Payments on revolving credit facility $ (1,060,000) $ (130,000)