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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net income $ 114,796 $ 77,704
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 246,074 237,562
Noncash amortization of deferred financing costs 5,965 5,838
Noncash amortization of discounts on debt instruments 345 2,984
Noncash amortization of cash flow hedging instrument (722) (602)
Noncash share-based compensation 3,509 2,750
Provision for bad debt 0 6,365
Loss on early extinguishment of debt 659 1,447
Remeasurement of participating preferred shares 0 (1,212)
Equity in net earnings of unconsolidated joint ventures (771) (423)
Net gain on sale of single-family properties and other (32,895) (10,449)
Loss on impairment of single-family properties 3,083 2,796
Other changes in operating assets and liabilities:    
Rent and other receivables (9,468) (16,314)
Prepaid expenses and other assets (2,741) (7,427)
Deferred leasing costs (3,244) (9,556)
Accounts payable and accrued expenses 95,502 87,438
Amounts payable to affiliates 323 (2,438)
Net cash provided by operating activities 420,415 376,463
Investing activities    
Cash paid for single-family properties (77,883) (333,082)
Change in escrow deposits for purchase of single-family properties (4,543) (2,194)
Net proceeds received from sales of single-family properties and other 151,502 47,757
Proceeds received from hurricane-related insurance claims 2,171 4,000
Investment in unconsolidated joint ventures (4,768) (3,800)
Distributions from joint ventures 17,393 36,251
Renovations to single-family properties (19,332) (40,898)
Recurring and other capital expenditures for single-family properties (52,067) (40,470)
Cash paid for development activity (236,398) (149,475)
Other purchases of productive assets (171) 0
Net cash provided by (used for) investing activities (224,096) (481,911)
Financing activities    
Proceeds from issuance of perpetual preferred shares/units 0 115,000
Payments of perpetual preferred share/unit issuance costs 0 (3,750)
Repurchase of Class A common shares/units 0 (34,969)
Proceeds from exercise of stock options 11,105 9,417
Payments related to tax withholding for share-based compensation (834) (546)
Payments on asset-backed securitizations (16,287) (15,669)
Payments on secured note payable 0 (49,427)
Settlement of cash flow hedging instrument 0 9,628
Distributions to noncontrolling interests (10,701) (8,303)
Distributions to common shareholders/unitholders (59,832) (43,524)
Distributions to preferred shareholders/unitholders (41,346) (41,178)
Deferred financing costs paid (3,572) (5,100)
Net cash provided by (used for) financing activities (73,523) 188,789
Net increase (decrease) in cash, cash equivalents and restricted cash 122,796 83,341
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) 298,010 266,164
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (93,901) (80,942)
Supplemental schedule of noncash investing and financing activities    
Accrued property acquisitions, renovations and development expenditures 14,822 (107)
Transfers of completed homebuilding deliveries to properties 107,445 64,867
Property and land contributions to an unconsolidated joint venture (18,599) (40,942)
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 0 (129)
Accrued distributions to non-affiliates 59 (1,773)
American Homes 4 Rent, L.P.    
Operating activities    
Net income 114,796 77,704
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 246,074 237,562
Noncash amortization of deferred financing costs 5,965 5,838
Noncash amortization of discounts on debt instruments 345 2,984
Noncash amortization of cash flow hedging instrument (722) (602)
Noncash share-based compensation 3,509 2,750
Provision for bad debt 0 6,365
Loss on early extinguishment of debt 659 1,447
Remeasurement of participating preferred shares 0 (1,212)
Equity in net earnings of unconsolidated joint ventures (771) (423)
Net gain on sale of single-family properties and other (32,895) (10,449)
Loss on impairment of single-family properties 3,083 2,796
Other changes in operating assets and liabilities:    
Rent and other receivables (9,468) (16,314)
Prepaid expenses and other assets (2,741) (7,427)
Deferred leasing costs (3,244) (9,556)
Accounts payable and accrued expenses 95,502 87,438
Amounts payable to affiliates 323 (2,438)
Net cash provided by operating activities 420,415 376,463
Investing activities    
Cash paid for single-family properties (77,883) (333,082)
Change in escrow deposits for purchase of single-family properties (4,543) (2,194)
Net proceeds received from sales of single-family properties and other 151,502 47,757
Proceeds received from hurricane-related insurance claims 2,171 4,000
Investment in unconsolidated joint ventures (4,768) (3,800)
Distributions from joint ventures 17,393 36,251
Renovations to single-family properties (19,332) (40,898)
Recurring and other capital expenditures for single-family properties (52,067) (40,470)
Cash paid for development activity (236,398) (149,475)
Other purchases of productive assets (171) 0
Net cash provided by (used for) investing activities (224,096) (481,911)
Financing activities    
Proceeds from issuance of perpetual preferred shares/units 0 115,000
Payments of perpetual preferred share/unit issuance costs 0 (3,750)
Repurchase of Class A common shares/units 0 (34,969)
Proceeds from exercise of stock options 11,105 9,417
Payments related to tax withholding for share-based compensation (834) (546)
Payments on asset-backed securitizations (16,287) (15,669)
Payments on secured note payable 0 (49,427)
Settlement of cash flow hedging instrument 0 9,628
Distributions to common shareholders/unitholders (70,533) (51,827)
Distributions to preferred shareholders/unitholders (41,346) (41,178)
Deferred financing costs paid (3,572) (5,100)
Net cash provided by (used for) financing activities (73,523) 188,789
Net increase (decrease) in cash, cash equivalents and restricted cash 122,796 83,341
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) 298,010 266,164
Supplemental cash flow information    
Cash payments for interest, net of amounts capitalized (93,901) (80,942)
Supplemental schedule of noncash investing and financing activities    
Accrued property acquisitions, renovations and development expenditures 14,822 (107)
Transfers of completed homebuilding deliveries to properties 107,445 64,867
Property and land contributions to an unconsolidated joint venture (18,599) (40,942)
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 0 (129)
Accrued distributions to non-affiliates 59 (1,773)
Term Loan facility    
Financing activities    
Payments on revolving credit and term loan facilities (100,000) (100,000)
Term Loan facility | American Homes 4 Rent, L.P.    
Financing activities    
Payments on revolving credit and term loan facilities (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 0 155,000
Payments on revolving credit and term loan facilities (250,000) (295,000)
Revolving Credit Facility | American Homes 4 Rent, L.P.    
Financing activities    
Proceeds from revolving credit facility 0 155,000
Payments on revolving credit and term loan facilities $ (250,000) $ (295,000)