XML 29 R15.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (L.P.) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income $ 324,269 $ 341,205
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 353,020 340,779
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments 8,966 9,193
Noncash share-based compensation 26,152 20,748
Loss on early extinguishment of debt 6,323 0
Equity in net loss (income) of unconsolidated entities 454 (1,581)
Return on investment from unconsolidated joint ventures 1,946 1,788
Gain on sale and impairment of single-family properties and other, net (145,490) (180,752)
Other changes in operating assets and liabilities:    
Rent and other receivables (6,904) (8,206)
Prepaid expenses and other assets 17,922 (3,606)
Deferred leasing costs (2,832) (2,368)
Accounts payable and accrued expenses 125,788 104,670
Amounts due from related parties (266) 1,504
Net cash provided by operating activities 709,348 623,374
Investing activities    
Cash paid for single-family properties (12,013) (5,862)
Change in escrow deposits for purchase of single-family properties (5,870) 2,808
Net proceeds received from sales of single-family properties and other 382,921 384,343
Proceeds received from storm-related insurance claims 0 2,185
Proceeds from notes receivable related to the sale of properties 370 663
Investment in unconsolidated joint ventures (15,538) (12,519)
Distributions from joint ventures 115,409 34,352
Renovations to single-family properties (29,771) (23,886)
Recurring and other capital expenditures for single-family properties (81,197) (106,372)
Cash paid for development activity (651,768) (708,823)
Cash paid for deposits on land option contracts (653) (1,142)
Other investing activities (20,604) (31,063)
Net cash used for investing activities (293,048) (465,316)
Financing activities    
Proceeds from issuances under share-based compensation plans 3,875 4,453
Payments related to tax withholding for share-based compensation (8,842) (3,842)
Payments on asset-backed securitizations (948,812) (18,533)
Proceeds from unsecured senior notes, net of discount 1,096,633 0
Payments related to liabilities to repurchase consolidated land not owned (47,863) 0
Distributions to common unitholders (287,126) (239,589)
Distributions to preferred unitholders (10,458) (10,458)
Deferred financing costs paid (20,969) 0
Net cash used for financing activities (320,312) (133,371)
Net increase in cash, cash equivalents and restricted cash 95,988 24,687
Cash, cash equivalents and restricted cash, beginning of period (see Note 3) 221,861 217,960
Cash, cash equivalents and restricted cash, end of period (see Note 3) 317,849 242,647
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (109,684) (102,920)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 58,723 84,224
Transfers of completed homebuilding deliveries to properties 695,969 514,180
Property and land contributions to unconsolidated joint ventures (156,934) (33,385)
Unrealized gain on cash flow hedging instruments 2,603 0
Noncash right-of-use assets obtained in exchange for operating lease liabilities 440 551
Accrued distributions to affiliates 1,717 1,083
Accrued distributions to non-affiliates 162 138
Revolving Credit Facility    
Financing activities    
Payments on revolving credit facility (90,000) (130,000)
American Homes 4 Rent, L.P.    
Operating activities    
Net income 324,269 341,205
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 353,020 340,779
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments 8,966 9,193
Noncash share-based compensation 26,152 20,748
Loss on early extinguishment of debt 6,323 0
Equity in net loss (income) of unconsolidated entities 454 (1,581)
Return on investment from unconsolidated joint ventures 1,946 1,788
Gain on sale and impairment of single-family properties and other, net (145,490) (180,752)
Other changes in operating assets and liabilities:    
Rent and other receivables (6,904) (8,206)
Prepaid expenses and other assets 17,922 (3,606)
Deferred leasing costs (2,832) (2,368)
Accounts payable and accrued expenses 125,788 104,670
Amounts due from related parties (266) 1,504
Net cash provided by operating activities 709,348 623,374
Investing activities    
Cash paid for single-family properties (12,013) (5,862)
Change in escrow deposits for purchase of single-family properties (5,870) 2,808
Net proceeds received from sales of single-family properties and other 382,921 384,343
Proceeds received from storm-related insurance claims 0 2,185
Proceeds from notes receivable related to the sale of properties 370 663
Investment in unconsolidated joint ventures (15,538) (12,519)
Distributions from joint ventures 115,409 34,352
Renovations to single-family properties (29,771) (23,886)
Recurring and other capital expenditures for single-family properties (81,197) (106,372)
Cash paid for development activity (651,768) (708,823)
Cash paid for deposits on land option contracts (653) (1,142)
Proceeds from repayment of loan from affiliate 25,666 0
Other investing activities (20,604) (31,063)
Net cash used for investing activities (293,048) (465,316)
Financing activities    
Proceeds from issuances under share-based compensation plans 3,875 4,453
Payments related to tax withholding for share-based compensation (8,842) (3,842)
Payments on asset-backed securitizations (948,812) (18,533)
Proceeds from unsecured senior notes, net of discount 1,096,633 0
Payments related to liabilities to repurchase consolidated land not owned (47,863) 0
Distributions to common unitholders (327,091) (273,363)
Distributions to preferred unitholders (10,458) (10,458)
Deferred financing costs paid (20,969) 0
Net cash used for financing activities (320,312) (133,371)
Net increase in cash, cash equivalents and restricted cash 95,988 24,687
Cash, cash equivalents and restricted cash, beginning of period (see Note 3) 221,861 217,960
Cash, cash equivalents and restricted cash, end of period (see Note 3) 317,849 242,647
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (109,684) (102,920)
Supplemental schedule of noncash investing and financing activities    
Accrued property renovations and development expenditures 58,723 84,224
Transfers of completed homebuilding deliveries to properties 695,969 514,180
Property and land contributions to unconsolidated joint ventures (156,934) (33,385)
Unrealized gain on cash flow hedging instruments 2,603 0
Noncash right-of-use assets obtained in exchange for operating lease liabilities 440 551
Accrued distributions to affiliates 1,717 1,083
Accrued distributions to non-affiliates 162 138
American Homes 4 Rent, L.P. | Revolving Credit Facility    
Financing activities    
Payments on revolving credit facility (90,000) (130,000)
American Homes 4 Rent, L.P. | Class A Common Units    
Financing activities    
Proceeds from issuance of Class A common units 33,249 298,372
Payments of Class A common unit issuance costs $ (34) $ 0