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Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (unaudited)

American Homes 4 Rent

The following table presents the Company’s summarized quarterly financial data for the years ended December 31, 2019 and 2018 (in thousands, except per share data):



	Quarter
	First		Second		Third		Fourth
2019
Rents and other single-family property revenues	$	277,694	$	279,914	$	293,064	$	281,465
Net income	33,091		40,304		41,401		41,464
Net income attributable to common shareholders	16,283		22,518		23,520		23,590
Net income attributable to common shareholders per share–basic	0.05		0.08		0.08		0.08
Net income attributable to common shareholders per share–diluted	0.05		0.08		0.08		0.08



	Quarter
	First		Second ⁽²⁾			Third		Fourth
2018
Rents and other single-family property revenues ⁽¹⁾	$	256,663	$	262,882		$	278,187	$	268,943
Net income	21,525		25,898			30,281		34,734
Net income (loss) attributable to common shareholders	5,814		(15,151		)	15,177		17,632
Net income (loss) attributable to common shareholders per share–basic	0.02		(0.05		)	0.05		0.06
Net income (loss) attributable to common shareholders per share–diluted	0.02		(0.05		)	0.05		0.06


(1)	As a result of the adoption of the new lease accounting standard, the Company reclassified previously reported rents from single-family properties, fees from single-family properties and tenant charge-backs to rents and other single-family property revenues within the condensed consolidated statements of operations in the interim periods in 2018. See Note 2 for additional information.

(2)

During the second quarter of 2018, the Company incurred a net loss attributable to common shareholders primarily due to a $32.2 million allocation of income to the Series C participating preferred shareholders as a result of the redemption of all outstanding participating preferred shares through a conversion of those participating preferred shares into Class A common shares. See Note 9 for additional information.

American Homes 4 Rent, L.P.

The following table presents the Operating Partnership’s summarized quarterly financial data for the years ended December 31, 2019 and 2018 (in thousands, except per unit data):



	Quarter
	First		Second		Third		Fourth
2019
Rents and other single-family property revenues	$	277,694	$	279,914	$	293,064	$	281,465
Net income	33,091		40,304		41,401		41,464
Net income attributable to common unitholders	19,309		26,522		27,619		27,682
Net income attributable to common unitholders per unit–basic	0.05		0.08		0.08		0.08
Net income attributable to common unitholders per unit–diluted	0.05		0.08		0.08		0.08



	Quarter
	First		Second ⁽²⁾			Third		Fourth
2018
Rents and other single-family property revenues ⁽¹⁾	$	256,663	$	262,882		$	278,187	$	268,943
Net income	21,525		25,898			30,281		34,734
Net income (loss) attributable to common unitholders	6,939		(18,053		)	18,058		20,952
Net income (loss) attributable to common unitholders per unit–basic	0.02		(0.05		)	0.05		0.06
Net income (loss) attributable to common unitholders per unit–diluted	0.02		(0.05		)	0.05		0.06

(1)

As a result of the adoption of the new lease accounting standard, the Operating Partnership reclassified previously reported rents from single-family properties, fees from single-family properties and tenant charge-backs to rents and other single-family property revenues within the condensed consolidated statements of operations in the interim periods in 2018. See Note 2 for additional information.

(2)

During the second quarter of 2018, the Operating Partnership incurred a net loss attributable to common unitholders primarily due to a $32.2 million allocation of income to the Series C participating preferred unitholders as a result of the redemption of all outstanding participating preferred units through a conversion of those participating preferred units into Class A common units. See Note 9 for additional information.