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Earnings per Share / Unit
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Earnings per Share / Unit Earnings per Share / Unit
 
American Homes 4 Rent

The following table reflects the Company’s computation of net income per common share on a basic and diluted basis for the three and six months ended June 30, 2024 and 2023 (amounts in thousands, except share and per share data):
For the Three Months Ended
June 30,		For the Six Months Ended
June 30,
 2024202320242023
Numerator:    
Net income$108,534 $115,414 $236,629 $253,113 
Less:
Noncontrolling interest 12,906 13,899 28,226 30,647 
Dividends on preferred shares3,486 3,486 6,972 6,972 
Allocation to participating securities (1)
314 288 682 633 
Numerator for income per common share–basic and diluted$91,828 $97,741 $200,749 $214,861 
Denominator:
Weighted-average common shares outstanding–basic366,778,333 362,148,911 366,645,796 361,267,035 
Effect of dilutive securities:
Share-based compensation plan and forward sale equity contract (2)
534,622 331,031 496,830 326,139 
Weighted-average common shares outstanding–diluted (3)
367,312,955 362,479,942 367,142,626 361,593,174 
Net income per common share:
Basic$0.25 $0.27 $0.55 $0.59 
Diluted$0.25 $0.27 $0.55 $0.59 
(1)Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per share using the two-class method.
(2)Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and vesting of PSUs under the treasury stock method for the three and six months ended June 30, 2024 and 2023 and the dilutive effect of a forward sale equity contract under the treasury stock method for the three and six months ended June 30, 2024 (see Note 10. Shareholders’ Equity / Partners’ Capital).
(3)The effect of the potential conversion of OP units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Class A common shares on a one-for-one basis. The income allocable to the OP units is allocated on this same basis and reflected as noncontrolling interest in the accompanying condensed consolidated financial statements. As such, the assumed conversion of the OP units would have no net impact on the determination of diluted earnings per share.
American Homes 4 Rent, L.P.

The following table reflects the Operating Partnership’s computation of net income per common unit on a basic and diluted basis for the three and six months ended June 30, 2024 and 2023 (amounts in thousands, except unit and per unit data):
For the Three Months Ended
June 30,		For the Six Months Ended
June 30,
 2024202320242023
Numerator:    
Net income$108,534 $115,414 $236,629 $253,113 
Less:
Preferred distributions3,486 3,486 6,972 6,972 
Allocation to participating securities (1)
314 288 682 633 
Numerator for income per common unit–basic and diluted$104,734 $111,640 $228,975 $245,508 
Denominator:
Weighted-average common units outstanding–basic418,155,313 413,525,891 418,022,776 412,644,015 
Effect of dilutive securities:
Share-based compensation plan and forward sale equity contract (2)
534,622 331,031 496,830 326,139 
Weighted-average common units outstanding–diluted418,689,935 413,856,922 418,519,606 412,970,154 
Net income per common unit:
Basic$0.25 $0.27 $0.55 $0.59 
Diluted$0.25 $0.27 $0.55 $0.59 
(1)Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per unit using the two-class method.
(2)Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and vesting of PSUs under the treasury stock method for the three and six months ended June 30, 2024 and 2023 and the dilutive effect of a forward sale equity contract under the treasury stock method for the three and six months ended June 30, 2024 (see Note 10. Shareholders’ Equity / Partners’ Capital).