(Loss) Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2020

(Loss) 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 (loss) 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,
	2020		2019
Basic (Loss) Earnings
(Loss) income attributable to STWD common stockholders	$	(66,769)	$	70,383
Less: Income attributable to participating shares not already deducted as non-controlling interests		(1,222)		(824)
Basic (loss) earnings	$	(67,991)	$	69,559
Diluted (Loss) Earnings
(Loss) income attributable to STWD common stockholders	$	(66,769)	$	70,383
Less: Income attributable to participating shares not already deducted as non-controlling interests		(1,222)		(824)
Add: Interest expense on Convertible Notes (1)		*		*
Add: Loss on extinguishment of Convertible Notes (1)		*		*
Diluted (loss) earnings	$	(67,991)	$	69,559
Number of Shares:
Basic — Average shares outstanding		280,990		277,544
Effect of dilutive securities — Convertible Notes (1)		*		*
Effect of dilutive securities — Unvested non-participating shares		—		154
Diluted — Average shares outstanding		280,990		277,698
(Loss) Earnings Per Share Attributable to STWD Common Stockholders:
Basic	$	(0.24)	$	0.25
Diluted	$	(0.24)	$	0.25

(1) The Company does not intend to fully settle the principal amount of the Convertible Notes in cash upon conversion. Accordingly, under GAAP, the dilutive effect to EPS for the periods presented above is determined using the “if-converted” method whereby interest expense or any loss on extinguishment of our Convertible Notes is added back to the diluted EPS numerator and the full number of potential shares contingently issuable upon their conversion is included in the diluted EPS denominator, if dilutive. Refer to Note 10 for further discussion.

* Our Convertible Notes were not dilutive for the three months ended March 31, 2020 and 2019.