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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net income $ 73,395 $ 47,423
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 164,001 157,622
Noncash amortization of deferred financing costs 3,976 3,888
Noncash amortization of discounts on debt instruments 217 1,941
Noncash amortization of cash flow hedging instrument (481) (361)
Noncash share-based compensation 2,221 1,918
Provision for bad debt 3,508 3,616
Loss on early extinguishment of debt 659 1,447
Remeasurement of participating preferred shares 0 (1,212)
Equity in net losses (earnings) of unconsolidated joint ventures 147 (587)
Net gain on sale of single-family properties and other (19,374) (5,496)
Loss on impairment of single-family properties 1,433 2,236
Other changes in operating assets and liabilities:    
Rent and other receivables (6,484) (5,522)
Prepaid expenses and other assets (8,140) (12,167)
Deferred leasing costs (2,129) (5,834)
Accounts payable and accrued expenses 74,493 61,061
Amounts payable to affiliates 50 (8)
Net cash provided by operating activities 287,492 249,965
Investing activities    
Cash paid for single-family properties (71,361) (206,137)
Change in escrow deposits for purchase of single-family properties (198) (4,357)
Net proceeds received from sales of single-family properties and other 87,172 30,142
Proceeds received from hurricane-related insurance claims 0 4,000
Investment in unconsolidated joint ventures (2,265) 0
Distributions from joint ventures 6,314 2,440
Initial renovations to single-family properties (16,513) (33,030)
Recurring and other capital expenditures for single-family properties (33,331) (23,331)
Cash paid for development activity (139,722) (95,354)
Other purchases of productive assets (129) 0
Net cash provided by (used for) investing activities (170,033) (325,627)
Financing activities    
Repurchase of Class A common shares/units 0 (34,969)
Proceeds from exercise of stock options 10,336 2,755
Payments related to tax withholding for share-based compensation (2,743) (822)
Payments on asset-backed securitizations (10,736) (10,490)
Payments on secured note payable 0 (49,427)
Settlement of cash flow hedging instrument 0 9,628
Distributions to noncontrolling interests (5,489) (5,536)
Distributions to common shareholders/unitholders (29,721) (28,702)
Distributions to preferred shareholders/unitholders (13,782) (29,194)
Deferred financing costs paid (3,572) (5,100)
Net cash provided by (used for) financing activities (7,763) 105,353
Net increase (decrease) in cash, cash equivalents and restricted cash 109,696 29,691
Cash, cash equivalents and restricted cash, beginning of period (see Note 3) 175,214 182,823
Cash, cash equivalents and restricted cash, end of period (see Note 3) 284,910 212,514
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (52,980) (47,663)
Supplemental schedule of noncash investing and financing activities    
Accrued property acquisitions, renovations and development expenditures 9,837 979
Transfers of completed homebuilding deliveries to properties 51,946 37,541
Property and land contributions to an unconsolidated joint venture (5,190) 0
Note receivable related to a bulk sale of properties, net of discount 29,474 0
Redemption of participating preferred units 0 (28,258)
Accrued distributions to affiliates 4,647 (149)
Accrued distributions to non-affiliates 26,780 (1,995)
American Homes 4 Rent, L.P.    
Operating activities    
Net income 73,395 47,423
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 164,001 157,622
Noncash amortization of deferred financing costs 3,976 3,888
Noncash amortization of discounts on debt instruments 217 1,941
Noncash amortization of cash flow hedging instrument (481) (361)
Noncash share-based compensation 2,221 1,918
Provision for bad debt 3,508 3,616
Loss on early extinguishment of debt 659 1,447
Remeasurement of participating preferred shares 0 (1,212)
Equity in net losses (earnings) of unconsolidated joint ventures 147 (587)
Net gain on sale of single-family properties and other (19,374) (5,496)
Loss on impairment of single-family properties 1,433 2,236
Other changes in operating assets and liabilities:    
Rent and other receivables (6,484) (5,522)
Prepaid expenses and other assets (8,140) (12,167)
Deferred leasing costs (2,129) (5,834)
Accounts payable and accrued expenses 74,493 61,061
Amounts payable to affiliates 50 (8)
Net cash provided by operating activities 287,492 249,965
Investing activities    
Cash paid for single-family properties (71,361) (206,137)
Change in escrow deposits for purchase of single-family properties (198) (4,357)
Net proceeds received from sales of single-family properties and other 87,172 30,142
Proceeds received from hurricane-related insurance claims 0 4,000
Investment in unconsolidated joint ventures (2,265) 0
Distributions from joint ventures 6,314 2,440
Initial renovations to single-family properties (16,513) (33,030)
Recurring and other capital expenditures for single-family properties (33,331) (23,331)
Cash paid for development activity (139,722) (95,354)
Other purchases of productive assets (129) 0
Net cash provided by (used for) investing activities (170,033) (325,627)
Financing activities    
Repurchase of Class A common shares/units 0 (34,969)
Proceeds from exercise of stock options 10,336 2,755
Payments related to tax withholding for share-based compensation (2,743) (822)
Payments on asset-backed securitizations (10,736) (10,490)
Payments on secured note payable 0 (49,427)
Settlement of cash flow hedging instrument 0 9,628
Distributions to common shareholders/unitholders (35,210) (34,238)
Distributions to preferred shareholders/unitholders (13,782) (29,194)
Deferred financing costs paid (3,572) (5,100)
Net cash provided by (used for) financing activities (7,763) 105,353
Net increase (decrease) in cash, cash equivalents and restricted cash 109,696 29,691
Cash, cash equivalents and restricted cash, beginning of period (see Note 3) 175,214 182,823
Cash, cash equivalents and restricted cash, end of period (see Note 3) 284,910 212,514
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (52,980) (47,663)
Supplemental schedule of noncash investing and financing activities    
Accrued property acquisitions, renovations and development expenditures 9,837 979
Transfers of completed homebuilding deliveries to properties 51,946 37,541
Property and land contributions to an unconsolidated joint venture (5,190) 0
Note receivable related to a bulk sale of properties, net of discount 29,474 0
Redemption of participating preferred units 0 (28,258)
Accrued distributions to affiliates 4,647 (149)
Accrued distributions to non-affiliates 26,780 (1,995)
Term Loan facility    
Financing activities    
Payments on revolving credit facility (100,000) (100,000)
Term Loan facility | American Homes 4 Rent, L.P.    
Financing activities    
Payments on revolving credit facility (100,000) (100,000)
Unsecured Senior Notes    
Financing activities    
Proceeds from unsecured senior notes, net of discount 397,944 497,210
Unsecured Senior Notes | American Homes 4 Rent, L.P.    
Financing activities    
Proceeds from unsecured senior notes, net of discount 397,944 497,210
Revolving Credit Facility    
Financing activities    
Proceeds from revolving credit facility 0 100,000
Payments on revolving credit facility (250,000) (240,000)
Revolving Credit Facility | American Homes 4 Rent, L.P.    
Financing activities    
Proceeds from revolving credit facility 0 100,000
Payments on revolving credit facility $ (250,000) $ (240,000)