Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2017

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,
	2017		2016
Basic Earnings
Income attributable to STWD common stockholders	$	102,358	$	26,657
Less: Income attributable to participating shares		(899)		(708)
Basic earnings	$	101,459	$	25,949
Diluted Earnings
Basic — Income attributable to STWD common stockholders	$	102,358	$	26,657
Less: Income attributable to participating shares		(899)		(708)
Add: Undistributed earnings to participating shares		—		—
Less: Undistributed earnings reallocated to participating shares		—		—
Diluted earnings	$	101,459	$	25,949
Number of Shares:
Basic — Average shares outstanding		258,997		236,556
Effect of dilutive securities — Convertible Notes		3,220		—
Effect of dilutive securities — Contingently issuable shares		121		121
Effect of dilutive securities — Unvested non-participating shares		103		82
Diluted — Average shares outstanding		262,441		236,759
Earnings Per Share Attributable to STWD Common Stockholders:
Basic	$	0.39	$	0.11
Diluted	$	0.39	$	0.11