Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2021

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 (loss) 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,
	2021		2020
Basic Earnings (Loss)
Income (loss) attributable to STWD common stockholders	$	111,378	$	(66,769)
Less: Income attributable to participating shares not already deducted as non-controlling interests		(1,925)		(1,222)
Basic earnings (loss)	$	109,453	$	(67,991)
Diluted Earnings (Loss)
Income (loss) attributable to STWD common stockholders	$	111,378	$	(66,769)
Less: Income attributable to participating shares not already deducted as non-controlling interests		(1,925)		(1,222)
Add: Interest expense on Convertible Notes		2,916		*
Diluted earnings (loss)	$	112,369	$	(67,991)
Number of Shares:
Basic — Average shares outstanding		283,319		280,990
Effect of dilutive securities — Convertible Notes		9,649		*
Effect of dilutive securities — Contingently issuable shares		263		—
Diluted — Average shares outstanding		293,231		280,990
Earnings (Loss) Per Share Attributable to STWD Common Stockholders:
Basic	$	0.39	$	(0.24)
Diluted	$	0.38	$	(0.24)