Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2016

Earnings per Share

Reconciliation of net income from continuing operations and the number of shares of common stock used in the computation of basic EPS and diluted EPS

The following table provides a reconciliation of net income and the number of shares of common stock used in the computation of basic EPS and diluted EPS (amounts in thousands, except per share amounts):

	For the Three Months Ended
	March 31,
	2016		2015
Basic Earnings
Income attributable to STWD common stockholders	$	26,657	$	120,363
Less: Income attributable to participating shares		(708)		(972)
Basic earnings	$	25,949	$	119,391
Diluted Earnings
Basic — Income attributable to STWD common stockholders	$	26,657	$	120,363
Less: Income attributable to participating shares		(708)		(972)
Add: Undistributed earnings to participating shares		—		106
Less: Undistributed earnings reallocated to participating shares		—		(104)
Diluted earnings	$	25,949	$	119,393
Number of Shares:
Basic — Average shares outstanding		236,556		223,541
Effect of dilutive securities — Convertible Notes		—		5,353
Effect of dilutive securities — Contingently issuable shares		121		138
Effect of dilutive securities — Unvested non-participating shares		82		—
Diluted — Average shares outstanding		236,759		229,032
Earnings Per Share Attributable to STWD Common Stockholders:
Basic	$	0.11	$	0.53
Diluted	$	0.11	$	0.52