diff --git a/CHANGELOG.md b/CHANGELOG.md
index b4bffb821..335c7fade 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -16,6 +16,7 @@
 - #391, #376 Fix improper replacement when extracting attribute access expression with `similar=True` (@climbus)
 - #396 Fix improper replacement when extracting index access expression with `similar=True` (@lieryan)
 - #293 Fix rename global var affects list comprehension (@climbus)
+- #387 Implement extract refactoring for code containing `async with`
 
 ## Misc
 
diff --git a/rope/refactor/extract.py b/rope/refactor/extract.py
index 59d9bb43e..16b7d9b5d 100644
--- a/rope/refactor/extract.py
+++ b/rope/refactor/extract.py
@@ -386,11 +386,14 @@ def __init__(self, info, matched_lines):
     def find_lineno(self):
         if self.info.variable and not self.info.make_global:
             return self._get_before_line()
-        if self.info.make_global or self.info.global_:
+        if self.info.global_:
             toplevel = self._find_toplevel(self.info.scope)
             ast = self.info.pymodule.get_ast()
             newlines = sorted(self.matched_lines + [toplevel.get_end() + 1])
             return suites.find_visible(ast, newlines)
+        if self.info.make_global:
+            toplevel = self._find_toplevel(self.info.scope)
+            return toplevel.get_end() + 1
         return self._get_after_scope()
 
     def _find_toplevel(self, scope):
diff --git a/rope/refactor/patchedast.py b/rope/refactor/patchedast.py
index d8ed4e063..fda034e89 100644
--- a/rope/refactor/patchedast.py
+++ b/rope/refactor/patchedast.py
@@ -871,9 +871,11 @@ def _While(self, node):
             children.extend(node.orelse)
         self._handle(node, children)
 
-    def _With(self, node):
+    def _handle_with_node(self, node, is_async):
         children = []
 
+        if is_async:
+            children.extend(["async"])
         for item in pycompat.get_ast_with_items(node):
             children.extend([self.with_or_comma_context_manager, item.context_expr])
             if item.optional_vars:
@@ -885,8 +887,11 @@ def _With(self, node):
             children.extend(node.body)
         self._handle(node, children)
 
+    def _With(self, node):
+        self._handle_with_node(node, is_async=False)
+
     def _AsyncWith(self, node):
-        return self._With(node)
+        self._handle_with_node(node, is_async=True)
 
     def _child_nodes(self, nodes, separator):
         children = []
diff --git a/rope/refactor/suites.py b/rope/refactor/suites.py
index b7f5c9a66..a6597f87a 100644
--- a/rope/refactor/suites.py
+++ b/rope/refactor/suites.py
@@ -114,6 +114,9 @@ def _While(self, node):
     def _With(self, node):
         self.suites.append(Suite(node.body, node.lineno, self.suite))
 
+    def _AsyncWith(self, node):
+        self.suites.append(Suite(node.body, node.lineno, self.suite))
+
     def _TryFinally(self, node):
         proceed_to_except_handler = False
         if len(node.finalbody) == 1:
@@ -153,5 +156,8 @@ def _add_if_like_node(self, node):
     def _FunctionDef(self, node):
         self.suites.append(Suite(node.body, node.lineno, self.suite, ignored=True))
 
+    def _AsyncFunctionDef(self, node):
+        self.suites.append(Suite(node.body, node.lineno, self.suite, ignored=True))
+
     def _ClassDef(self, node):
         self.suites.append(Suite(node.body, node.lineno, self.suite, ignored=True))
diff --git a/ropetest/refactor/extracttest.py b/ropetest/refactor/extracttest.py
index abf575df1..d11548025 100644
--- a/ropetest/refactor/extracttest.py
+++ b/ropetest/refactor/extracttest.py
@@ -1601,7 +1601,7 @@ def new_func():
         """)
         self.assertEqual(expected, refactored)
 
-    def test_extract_method_with_multiple_methods(self):  # noqa
+    def test_global_extract_method_with_multiple_methods(self):
         code = dedent("""\
             class AClass(object):
                 def a_func(self):
@@ -2953,3 +2953,41 @@ def extracted():
                 extracted()
         """)
         self.assertEqual(expected, refactored)
+
+    @testutils.only_for_versions_higher('3.8')
+    def test_extract_method_async_with_simple(self):
+        code = dedent("""\
+            async def afunc():
+                async with open("test") as file1:
+                    print(file1)
+        """)
+        start, end = self._convert_line_range_to_offset(code, 2, 3)
+        refactored = self.do_extract_method(code, start, end, 'extracted', global_=True)
+        expected = dedent("""\
+            async def afunc():
+                extracted()
+
+            def extracted():
+                async with open("test") as file1:
+                    print(file1)
+        """)
+        self.assertEqual(expected, refactored)
+
+    @testutils.only_for_versions_higher('3.8')
+    def test_extract_method_containing_async_with(self):
+        code = dedent("""\
+            async def afunc():
+                async with open("test") as file1, open("test") as file2:
+                    print(file1, file2)
+        """)
+        start, end = self._convert_line_range_to_offset(code, 3, 3)
+        refactored = self.do_extract_method(code, start, end, 'extracted', global_=True)
+        expected = dedent("""\
+            async def afunc():
+                async with open("test") as file1, open("test") as file2:
+                    extracted(file1, file2)
+
+            def extracted(file1, file2):
+                print(file1, file2)
+        """)
+        self.assertEqual(expected, refactored)
diff --git a/ropetest/refactor/patchedasttest.py b/ropetest/refactor/patchedasttest.py
index 1bae47b22..479e46a7a 100644
--- a/ropetest/refactor/patchedasttest.py
+++ b/ropetest/refactor/patchedasttest.py
@@ -1095,6 +1095,20 @@ def test_with_node(self):
             ["with", " ", "Name", " ", "as", " ", "Name", "", ":", "\n    ", "Pass"],
         )
 
+    @testutils.only_for("3.5")
+    def test_async_with_node(self):
+        source = dedent("""\
+            async def afunc():
+                async with a as b:
+                    pass\n
+        """)
+        ast_frag = patchedast.get_patched_ast(source, True)
+        checker = _ResultChecker(self, ast_frag)
+        checker.check_children(
+            "AsyncWith",
+            ["async", " ", "with", " ", "Name", " ", "as", " ", "Name", "", ":", "\n        ", "Pass"],
+        )
+
     def test_try_finally_node(self):
         source = dedent("""\
             try: