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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Interest income from loans $ 203,252 $ 169,404 $ 583,099 $ 557,934
Interest income from investment securities 10,697 12,186 32,955 42,070
Servicing fees 10,473 9,548 29,739 20,999
Rental income 77,512 75,978 230,969 222,834
Other revenues 352 311 3,621 1,756
Total revenues 302,286 267,427 880,383 845,593
Costs and expenses:        
Management fees 23,727 23,127 91,713 86,970
Interest expense 115,531 95,981 328,558 317,499
General and administrative 38,864 39,478 122,765 110,857
Acquisition and investment pursuit costs 214 884 806 3,383
Costs of rental operations 31,516 29,522 90,992 87,368
Depreciation and amortization 22,041 23,581 66,992 70,982
Credit loss (reversal) provision, net (563) (3,587) (12,363) 55,284
Other expense 23 172 708 662
Total costs and expenses 231,353 209,158 690,171 733,005
Other income (loss):        
Change in net assets related to consolidated VIEs 28,049 58,585 80,303 64,353
Change in fair value of servicing rights 2,237 634 2,740 (2,328)
Change in fair value of investment securities, net (299) (199) 903 3,132
Change in fair value of mortgage loans, net 31,727 61,384 68,116 79,700
Earnings from unconsolidated entities 2,042 3,192 6,002 32,065
(Loss) gain on sale of investments and other assets, net (47) 0 26,377 6,768
Gain (loss) on derivative financial instruments, net 41,812 (28,097) 65,792 (34,485)
Foreign currency (loss) gain, net (27,003) 25,452 (36,057) (1,861)
Loss on extinguishment of debt (499) 0 (2,197) (2,377)
Other (loss) income, net (964) 357 (6,416) 687
Total other income 77,055 121,308 205,563 145,654
Income before income taxes 147,988 179,577 395,775 258,242
Income tax provision (7,501) (14,843) (6,378) (6,816)
Net income 140,487 164,734 389,397 251,426
Net income attributable to non-controlling interests (11,885) (12,900) (33,107) (26,705)
Net income attributable to Starwood Property Trust, Inc. $ 128,602 $ 151,834 $ 356,290 $ 224,721
Earnings per share data attributable to Starwood Property Trust, Inc.:        
Basic (in dollars per share) $ 0.44 $ 0.53 $ 1.23 $ 0.79
Diluted (in dollars per share) $ 0.44 $ 0.52 $ 1.22 $ 0.79