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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations
The following table presents a reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations ($ in thousands, except for per share data):

 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
 
2012
 
2011
 
2012
 
2011
Income (loss) from continuing operations
$
(89,753
)
 
$
(26,237
)
 
$
(145,963
)
 
$
56,331

Net (income) loss attributable to noncontrolling interests
722

 
(14
)
 
696

 
(444
)
Income from sales of residential property
13,266

 
—

 
19,999

 
—

Preferred dividends
(10,580
)
 
(10,580
)
 
(21,160
)
 
(21,160
)
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders, HPU holders and Participating Security Holders(1)
$
(86,345
)
 
$
(36,831
)
 
$
(146,428
)
 
$
34,727


Explanatory Note:
_______________________________________________________________________________

(1)
For the six months ended June 30, 2011, includes income from continuing operations allocable to Participating Security Holders of $1,540 and $1,507 on a basic and dilutive basis, respectively.
Schedule of earnings per share allocable to common shares and HPU shares
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
 
2012
 
2011
 
2012
 
2011
Earnings allocable to common shares:
 
 
 
 
 
 
 
Numerator for basic earnings per share:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders
$
(83,526
)
 
$
(35,736
)
 
$
(141,633
)
 
$
32,200

Income (loss) from discontinued operations
490

 
211

 
1,480

 
1,440

Gain from discontinued operations
24,040

 
—

 
26,364

 
—

Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders
$
(58,996
)
 
$
(35,525
)
 
$
(113,789
)
 
$
33,640

Numerator for diluted earnings per share:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders
$
(83,526
)
 
$
(35,736
)
 
$
(141,633
)
 
$
32,254

Income (loss) from discontinued operations
490

 
211

 
1,480

 
1,442

Gain from discontinued operations
24,040

 
—

 
26,364

 
—

Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders
$
(58,996
)
 
$
(35,525
)
 
$
(113,789
)
 
$
33,696

Denominator for basic and diluted earnings per share:
 
 
 
 
 
 
 
Weighted average common shares outstanding for basic earnings per common share
84,113

 
92,621

 
83,834

 
92,580

Add: effect of assumed shared issued under treasury stock method for restricted shares
—

 
—

 
—

 
1,880

Add: effect of joint venture shares
—

 
—

 
—

 
298

Weighted average common shares outstanding for diluted earnings per common share
84,113

 
92,621

 
83,834

 
94,758

Basic earnings per common share:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders
$
(1.00
)
 
$
(0.38
)
 
$
(1.69
)
 
$
0.34

Income (loss) from discontinued operations
0.01

 
—

 
0.02

 
0.02

Gain from discontinued operations
0.29

 
—

 
0.31

 
—

Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders
$
(0.70
)
 
$
(0.38
)
 
$
(1.36
)
 
$
0.36

Diluted earnings per common share:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders
$
(1.00
)
 
$
(0.38
)
 
$
(1.69
)
 
$
0.34

Income (loss) from discontinued operations
0.01

 
—

 
0.02

 
0.02

Gain from discontinued operations
0.29

 
—

 
0.31

 
—

Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders
$
(0.70
)
 
$
(0.38
)
 
$
(1.36
)
 
$
0.36



 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
 
2012
 
2011
 
2012
 
2011
Earnings allocable to High Performance Units:
 
 
 
 
 
 
 
Numerator for basic earnings per HPU share:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders
$
(2,819
)
 
$
(1,095
)
 
$
(4,795
)
 
$
987

Income (loss) from discontinued operations
17

 
6

 
50

 
44

Gain from discontinued operations
811

 
—

 
893

 
—

Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders
$
(1,991
)
 
$
(1,089
)
 
$
(3,852
)
 
$
1,031

Numerator for diluted earnings per HPU share:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders
$
(2,819
)
 
$
(1,095
)
 
$
(4,795
)
 
$
966

Income (loss) from discontinued operations
17

 
6

 
50

 
43

Gain from discontinued operations
811

 
—

 
893

 
—

Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders
$
(1,991
)
 
$
(1,089
)
 
$
(3,852
)
 
$
1,009

Denominator for basic and diluted earnings per HPU share:
 
 
 
 
 
 
 
Weighted average High Performance Units outstanding for basic and diluted earnings per share
15

 
15

 
15

 
15

Basic earnings per HPU share:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders
$
(187.93
)
 
$
(73.00
)
 
$
(319.66
)
 
$
65.80

Income (loss) from discontinued operations
1.13

 
0.40

 
3.33

 
2.93

Gain from discontinued operations
54.07

 
—

 
59.53

 
—

Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders
$
(132.73
)
 
$
(72.60
)
 
$
(256.80
)
 
$
68.73

Diluted earnings per HPU share:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders
$
(187.93
)
 
$
(73.00
)
 
$
(319.66
)
 
$
64.40

Income (loss) from discontinued operations
1.13

 
0.40

 
3.33

 
2.87

Gain from discontinued operations
54.07

 
—

 
59.53

 
—

Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders
$
(132.73
)
 
$
(72.60
)
 
$
(256.80
)
 
$
67.27
Schedule of anti-dilutive shares
For the three and six months ended June 30, 2012 and 2011, the following shares were anti-dilutive ($ in thousands):

 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
 
2012
 
2011
 
2012
 
2011
Joint venture shares
298

 
298

 
298

 
—

Stock options
—

 
44

 
—

 
44