Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data (Unaudited)

Summary of quarterly financial data

The following table summarizes our quarterly financial data which, in the opinion of management, reflects all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of our results of operations (amounts in thousands, except per share data):

	For the Three-Month Periods Ended
	March 31		June 30		September 30			December 31
2011:
Net interest margin	$	31,433	$	41,127	$	50,753		$	52,095
Net income		31,725		33,312		14,503	(c)		41,068
Net income allocable to Starwood Property Trust		31,447		32,424		14,478			41,028
Total earnings per share—Basic(a)	$	0.43	$	0.39	$	0.15		$	0.44
Total earnings per share—Diluted(a)	$	0.43	$	0.39	$	0.15		$	0.44
2010:
Net interest margin	$	12,398	$	17,978	$	22,822		$	24,538
Net income		6,260		11,410		23,283			17,889
Net income allocable to Starwood Property Trust		5,941		10,849		22,683			17,573
Total earnings per share—Basic(a)	$	0.12	$	0.23	$	0.47		$	0.33
Total earnings per share—Diluted(a)	$	0.12	$	0.22	$	0.47		$	0.33
2009:
Net interest margin		—		—		612	(b)	$	4,411
Net (loss)		—		—		(1,771)	(b)		(809	)
Net (loss) allocable to Starwood Property Trust		—		—		(1,919)	(b)		(1,098	)
Total (loss) per share—Basic(a)		—		—	$	(0.04)	(b)	$	(0.02	)
Total (loss) per share—Diluted(a)		—		—	$	(0.04)	(b)	$	(0.02	)

(a)

Amounts for the individual quarters when aggregated may not agree to the earnings per share for the full year due to rounding.

(b)

Represents the period from August 17, 2009 (Inception) to September 30, 2009.

(c)

Includes the effects of a decrease in value of approximately $19.0 million on derivative instruments and held for sale loans.