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American Homes 4 Rent – ‘10-Q’ for 9/30/17 – ‘EX-12.1’

On:  Friday, 11/3/17, at 1:41pm ET   ·   For:  9/30/17   ·   Accession #:  1562401-17-55   ·   File #:  1-36013

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  As Of               Filer                 Filing    For·On·As Docs:Size

11/03/17  American Homes 4 Rent             10-Q        9/30/17   85:10M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    998K 
 2: EX-12.1     Statement re: Computation of Ratios                 HTML     65K 
 3: EX-12.2     Statement re: Computation of Ratios                 HTML     65K 
 4: EX-31.1     Certification -- §302 - SOA'02                      HTML     31K 
 5: EX-31.2     Certification -- §302 - SOA'02                      HTML     31K 
 6: EX-32.1     Certification -- §906 - SOA'02                      HTML     27K 
13: R1          Document and Entity Information                     HTML     49K 
14: R2          Condensed Consolidated Balance Sheets               HTML    158K 
15: R3          Condensed Consolidated Balance Sheets               HTML     59K 
                (Parenthetical)                                                  
16: R4          Condensed Consolidated Statements of Operations     HTML    119K 
17: R5          Condensed Consolidated Statements of Comprehensive  HTML     58K 
                Income (Loss)                                                    
18: R6          Condensed Consolidated Statement of Equity          HTML     82K 
19: R7          Condensed Consolidated Statement of Equity          HTML     27K 
                (Parenthetical)                                                  
20: R8          Condensed Consolidated Statement of Capital         HTML     95K 
21: R9          Condensed Consolidated Statement of Capital         HTML     27K 
                (Parenthetical)                                                  
22: R10         Condensed Consolidated Statements of Cash Flows     HTML    245K 
23: R11         Organization and Operations                         HTML     35K 
24: R12         Significant Accounting Policies                     HTML     58K 
25: R13         Cash, Cash Equivalents and Restricted Cash          HTML     38K 
26: R14         Single-Family Properties                            HTML     59K 
27: R15         Rent and Other Receivables, Net                     HTML     30K 
28: R16         Deferred Costs and Other Intangibles, Net           HTML     74K 
29: R17         Debt                                                HTML    102K 
30: R18         Accounts Payable and Accrued Expenses               HTML     38K 
31: R19         Shareholders' Equity / Partners' Capital            HTML    148K 
32: R20         Related Party Transactions                          HTML     28K 
33: R21         Earnings per Share / Unit                           HTML    158K 
34: R22         Commitments and Contingencies                       HTML     33K 
35: R23         Fair Value                                          HTML    112K 
36: R24         Subsequent Events                                   HTML     33K 
37: R25         Significant Accounting Policies (Policies)          HTML     51K 
38: R26         Cash, Cash Equivalents and Restricted Cash          HTML     46K 
                (Tables)                                                         
39: R27         Single-Family Properties (Tables)                   HTML     46K 
40: R28         Deferred Costs and Other Intangibles, Net (Tables)  HTML     72K 
41: R29         Debt (Tables)                                       HTML     90K 
42: R30         Accounts Payable and Accrued Expenses (Tables)      HTML     37K 
43: R31         Shareholders' Equity / Partners' Capital (Tables)   HTML    112K 
44: R32         Earnings per Share / Unit (Tables)                  HTML    148K 
45: R33         Fair Value (Tables)                                 HTML    112K 
46: R34         Organization and Operations (Details)               HTML     46K 
47: R35         Significant Accounting Policies (Details)           HTML     47K 
48: R36         Cash, Cash Equivalents and Restricted Cash          HTML     39K 
                (Details)                                                        
49: R37         Single-Family Properties - Components of            HTML     44K 
                Single-Family Properties (Details)                               
50: R38         Single-Family Properties - Narrative (Details)      HTML     63K 
51: R39         Rent and Other Receivables, Net (Details)           HTML     30K 
52: R40         Deferred Costs and Other Intangibles, Net -         HTML     43K 
                Components of Deferred Costs and Intangibles                     
                (Details)                                                        
53: R41         Deferred Costs and Other Intangibles, Net -         HTML     33K 
                Narrative (Details)                                              
54: R42         Deferred Costs and Other Intangibles, Net -         HTML     85K 
                Amortization Expense (Details)                                   
55: R43         Debt - Schedule of Debt (Details)                   HTML    103K 
56: R44         Debt - Early Extinguishment of Debt (Details)       HTML     43K 
57: R45         Debt - Exchangeable Senior Notes, Net (Details)     HTML     46K 
58: R46         Debt - Credit Facilities (Details)                  HTML     69K 
59: R47         Debt - Interest Expense (Details)                   HTML     30K 
60: R48         Accounts Payable and Accrued Expenses - Components  HTML     43K 
                of Accounts Payable and Accrued Expenses (Details)               
61: R49         Shareholders' Equity / Partners' Capital - Class A  HTML     40K 
                Common Share Offering (Details)                                  
62: R50         Shareholders' Equity / Partners' Capital - At the   HTML     47K 
                Market Common Share Offering Program (Details)                   
63: R51         Shareholders' Equity / Partners' Capital - Share    HTML     40K 
                Repurchase (Details)                                             
64: R52         Shareholders' Equity / Partners' Capital -          HTML     71K 
                Participating Preferred Shares (Details)                         
65: R53         Shareholders' Equity / Partners' Capital -          HTML     43K 
                Perpetual Preferred Shares (Details)                             
66: R54         Shareholders' Equity / Partners' Capital -          HTML     59K 
                Distributions (Details)                                          
67: R55         Shareholders' Equity / Partners' Capital -          HTML     36K 
                Noncontrolling Interest (Details)                                
68: R56         Shareholders' Equity / Partners' Capital -          HTML     38K 
                Noncontrolling Interest Activity in Condensed                    
                Consolidated Statements of Operations (Details)                  
69: R57         Shareholders' Equity / Partners' Capital - 2012     HTML     49K 
                Equity Incentive Plan Narrative (Details)                        
70: R58         Shareholders' Equity / Partners' Capital - Stock    HTML     70K 
                Options Activity (Details)                                       
71: R59         Shareholders' Equity / Partners' Capital -          HTML     38K 
                Valuation Inputs (Details)                                       
72: R60         Shareholders' Equity / Partners' Capital -          HTML     37K 
                Restricted Stock Units (Details)                                 
73: R61         Related Party Transactions (Details)                HTML     29K 
74: R62         Earnings per Share / Unit - Computation of          HTML     86K 
                Earnings per Share (Details)                                     
75: R63         Earnings per Share / Unit - Narrative (Details)     HTML     40K 
76: R64         Commitments and Contingencies (Details)             HTML     35K 
77: R65         Fair Value - Carrying Value and Fair Value          HTML     79K 
                (Details)                                                        
78: R66         Fair Value - Fair Value Hierarchy (Details)         HTML     36K 
79: R67         Fair Value - Changes in Fair Value of Level 3       HTML     43K 
                Instruments (Details)                                            
80: R68         Subsequent Events - Subsequent Acquisitions         HTML     30K 
                (Details)                                                        
81: R69         Subsequent Events - Share Issuances (Details)       HTML     45K 
82: R70         Subsequent Events - Declaration of Dividends        HTML     64K 
                (Details)                                                        
84: XML         IDEA XML File -- Filing Summary                      XML    152K 
83: EXCEL       IDEA Workbook of Financial Reports                  XLSX     98K 
 7: EX-101.INS  XBRL Instance -- amh-20170930                        XML   2.74M 
 9: EX-101.CAL  XBRL Calculations -- amh-20170930_cal                XML    278K 
10: EX-101.DEF  XBRL Definitions -- amh-20170930_def                 XML   1.24M 
11: EX-101.LAB  XBRL Labels -- amh-20170930_lab                      XML   1.90M 
12: EX-101.PRE  XBRL Presentations -- amh-20170930_pre               XML   1.37M 
 8: EX-101.SCH  XBRL Schema -- amh-20170930                          XSD    196K 
85: ZIP         XBRL Zipped Folder -- 0001562401-17-000055-xbrl      Zip    296K 


‘EX-12.1’   —   Statement re: Computation of Ratios


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 <!   C:   C: 
  Exhibit  


Exhibit 12.1

AMERICAN HOMES 4 RENT
RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED DISTRIBUTIONS
 
Nine Months Ended
 
Year ended December 31,
(Amounts in thousands)
 
2016
 
2015
 
2014
 
2013 (1)
 
2012
Earnings:
 
 
 
 
 

 
 

 
 

 
 

Income (loss) from continuing operations
$
45,959

 
$
10,446

 
$
(47,948
)
 
$
(33,092
)
 
$
(20,074
)
 
$
(10,236
)
Less: equity in earnings of joint ventures
(1,367
)
 
(860
)
 

 

 

 

Add: fixed charges
90,576

 
133,783

 
98,103

 
33,077

 
10,016

 

Less: capitalized interest
(3,171
)
 
(2,290
)
 
(8,690
)
 
(13,196
)
 
(9,646
)
 

Less: gain on remeasurement of equity method investment

 

 

 

 
(10,945
)
 

Less: gain on conversion of Series E units

 
(11,463
)
 

 

 

 

Less: remeasurement of Series E units

 

 
(2,100
)
 
5,119

 
2,057

 

Less: remeasurement of participating preferred shares
(1,341
)
 
7,020

 
4,830

 
6,158

 
1,810

 

Add: preferred distributions
46,122

 
43,264

 
41,067

 
37,528

 
16,223

 

Total earnings
$
176,778

 
$
179,900

 
$
85,262

 
$
35,594

 
$
(10,559
)
 
$
(10,236
)
 
 
 
 
 
 
 
 
 
 
 
 
Combined fixed charges and preferred distributions:
 
 
 
 
 
 

 
 

 
 

Interest expense (including amortization of loan costs)
$
86,873

 
$
130,847

 
$
89,413

 
$
19,881

 
$
370

 
$

Capitalized interest
3,171

 
2,290

 
8,690

 
13,196

 
9,646

 

Portion of rental expense which represents interest factor
532

 
646

 

 

 

 

Fixed charges
$
90,576

 
$
133,783

 
$
98,103

 
$
33,077

 
$
10,016

 
$

Preferred distributions (2)
46,122

 
43,264

 
41,067

 
37,528

 
16,223

 

Combined fixed charges and preferred distributions
$
136,698

 
$
177,047

 
$
139,170

 
$
70,605

 
$
26,239

 
$

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.95

 
1.34

 
0.87

 
1.08

 
N/A

 
N/A

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred distributions
1.29

 
1.02

 
0.61

 
0.50

 
N/A

 
N/A

 
 
 
 
 
 
 
 
 
 
 
 
Surplus (deficiency) of earnings to fixed charges
$
86,202

 
$
46,117

 
$
(12,841
)
 
$
2,517

 
$
(20,575
)
 
$
(10,236
)
 
 
 
 
 
 
 
 
 
 
 
 
Surplus (deficiency) of earnings to combined fixed charges and preferred distributions
$
40,080

 
$
2,853

 
$
(53,908
)
 
$
(35,011
)
 
$
(36,798
)
 
$
(10,236
)

(1)
Excludes discontinued operations.
(2)
Includes distributions of $4.7 million on Series A participating preferred shares, $4.1 million on Series B participating preferred shares, $7.8 million on Series C participating preferred shares, $13.1 million on Series D perpetual preferred shares, $11.0 million on Series E perpetual preferred shares, $4.0 million on Series F perpetual preferred shares and $1.4 million on Series G perpetual preferred shares for the nine months ended September 30, 2017. Includes distributions of $6.3 million on Series A participating preferred shares, $5.5 million on Series B participating preferred shares, $10.5 million on Series C participating preferred shares, $10.6 million on Series D perpetual preferred shares, $7.4 million on Series E perpetual preferred shares and $3.0 million on Series C convertible units for the year ended December 31, 2016. Includes distributions of $6.3 million on Series A participating preferred shares, $5.5 million on Series B participating preferred shares, $10.5 million on Series C participating preferred shares and $18.8 million on Series C convertible units for the year ended December 31, 2015. Includes distributions of $6.3 million on Series A participating preferred shares, $5.7 million on Series B participating preferred shares, $6.9 million on Series C participating preferred shares and $18.6 million on Series C convertible units for the year ended December 31, 2014. Includes distributions of $1.2 million on Series A participating preferred shares, $14.9 million on Series C convertible units and $0.2 million on 3.5% convertible perpetual preferred units for the year ended December 31, 2013.




Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:11/3/17
For Period end:9/30/17
12/31/1610-K,  ABS-15G
12/31/1510-K,  ABS-15G
12/31/1410-K,  10-K/A,  4,  ABS-15G,  ARS
12/31/1310-K,  ARS
 List all Filings 
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Filing Submission 0001562401-17-000055   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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