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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Interest income from loans $ 171,103 $ 191,466 $ 388,530 $ 374,882
Interest income from investment securities 14,644 22,545 29,884 40,177
Servicing fees 6,658 9,008 11,451 33,441
Rental income 72,710 87,297 146,856 171,130
Other revenues 491 865 1,445 2,031
Total revenues 265,606 311,181 578,166 621,661
Costs and expenses:        
Management fees 23,115 22,523 63,843 45,989
Interest expense 101,493 130,126 221,518 264,798
General and administrative 32,677 37,578 71,379 72,508
Acquisition and investment pursuit costs 1,590 74 2,499 416
Costs of rental operations 29,632 30,655 57,846 60,306
Depreciation and amortization 23,421 28,552 47,401 57,806
Credit loss provision, net 10,202 2,518 58,871 3,281
Other expense 102 1,443 490 1,654
Total costs and expenses 222,232 253,469 523,847 506,758
Other income (loss):        
Change in net assets related to consolidated VIEs 51,261 55,158 5,768 102,994
Change in fair value of servicing rights (2,569) (916) (2,962) (1,683)
Change in fair value of investment securities, net 827 667 3,331 729
Change in fair value of mortgage loans, net 34,450 21,891 18,316 33,157
Earnings (loss) from unconsolidated entities 28,776 8,817 28,873 (34,383)
Gain on sale of investments and other assets, net 6,472 2,515 6,768 7,000
Loss on derivative financial instruments, net (16,098) (32) (6,388) (2,239)
Foreign currency gain (loss), net 7,173 (7,017) (27,313) (1,470)
Loss on extinguishment of debt (2,207) (2,816) (2,377) (6,114)
Other income (loss), net 204   330 (73)
Total other income 108,289 78,267 24,346 97,918
Income before income taxes 151,663 135,979 78,665 212,821
Income tax benefit (provision) 1,298 (3,533) 8,027 (3,867)
Net income 152,961 132,446 86,692 208,954
Net income attributable to non-controlling interests (13,305) (5,430) (13,805) (11,555)
Net income attributable to Starwood Property Trust, Inc. $ 139,656 $ 127,016 $ 72,887 $ 197,399
Earnings per share data attributable to Starwood Property Trust, Inc.:        
Basic (in dollars per share) $ 0.49 $ 0.45 $ 0.25 $ 0.70
Diluted (in dollars per share) $ 0.49 $ 0.45 $ 0.25 $ 0.70