Earnings per Share (Tables)

9 Months Ended

Sep. 30, 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				For the Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Basic Earnings
Income attributable to STWD common stockholders	$	88,428	$	105,766	$	308,166	$	243,896
Less: Income attributable to participating shares		(761)		(456)		(2,489)		(1,743)
Basic earnings	$	87,667	$	105,310	$	305,677	$	242,153
Diluted Earnings
Basic — Income attributable to STWD common stockholders	$	88,428	$	105,766	$	308,166	$	243,896
Less: Income attributable to participating shares		(761)		(456)		(2,489)		(1,743)
Add: Undistributed earnings to participating shares		—		—		—		—
Less: Undistributed earnings reallocated to participating shares		—		—		—		—
Diluted earnings	$	87,667	$	105,310	$	305,677	$	242,153
Number of Shares:
Basic — Average shares outstanding		259,759		237,429		259,412		237,017
Effect of dilutive securities — Convertible Notes		2,313		3,445		2,284		3,766
Effect of dilutive securities — Contingently issuable shares		236		138		236		138
Effect of dilutive securities — Unvested non-participating shares		129		79		123		61
Diluted — Average shares outstanding		262,437		241,091		262,055		240,982
Earnings Per Share Attributable to STWD Common Stockholders:
Basic	$	0.34	$	0.44	$	1.18	$	1.02
Diluted	$	0.33	$	0.44	$	1.17	$	1.00