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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Interest income from loans $ 385,219 $ 427,432 $ 739,142 $ 890,924
Interest income from investment securities 10,313 17,000 22,534 35,206
Servicing fees 14,080 16,033 31,540 25,722
Rental income 28,243 25,459 57,426 54,306
Other revenues 6,428 3,902 11,821 6,756
Total revenues 444,283 489,826 862,463 1,012,914
Costs and expenses:        
Management fees 30,833 30,517 71,596 76,531
Interest expense 316,132 344,389 608,290 700,345
General and administrative 51,072 51,082 99,219 101,745
Costs of rental operations 14,512 12,070 29,332 22,414
Depreciation and amortization 10,371 10,124 21,855 19,942
Credit loss provision (reversal), net 5,666 42,709 (19,333) 78,548
Other expense 1,893 285 3,744 959
Total costs and expenses 430,479 491,176 814,703 1,000,484
Other income (loss):        
Change in net assets related to consolidated VIEs 40,280 17,180 68,971 27,266
Change in fair value of servicing rights 2,363 895 3,116 1,123
Change in fair value of investment securities, net 345 367 172 1,282
Change in fair value of mortgage loans, net 29,867 64,421 88,271 35,408
Earnings from unconsolidated entities 7,872 1,670 8,409 9,345
Gain on sale of investments and other assets, net 31,662 0 31,662 91,962
(Loss) gain on derivative financial instruments, net (101,296) 986 (140,985) 102,925
Foreign currency gain (loss), net 83,761 6,885 118,552 (34,985)
Gain (loss) on extinguishment of debt, net 19,990 (1,105) 19,990 (2,559)
Other income (loss), net 1,604 (2,792) 291 (5,422)
Total other income (loss) 121,563 94,953 207,474 242,239
Income (loss) before income taxes 135,367 93,603 255,234 254,669
Income tax provision (671) (15,878) (4,437) (17,084)
Net income 134,696 77,725 250,797 237,585
Net (income) loss attributable to non-controlling interests (4,882) 165 (8,728) (5,363)
Net income (loss) attributable to Starwood Property Trust, Inc. $ 129,814 $ 77,890 $ 242,069 $ 232,222
Earnings per share data attributable to Starwood Property Trust, Inc.:        
Basic (in dollars per share) $ 0.38 $ 0.24 $ 0.71 $ 0.73
Diluted (in dollars per share) $ 0.38 $ 0.24 $ 0.71 $ 0.73
Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments $ 5,115 $ 6,446 $ 9,025 $ 15,894