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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Interest income from sales-type leases [1] $ 118,824 $ 81,844 $ 18,531
Operating lease income 67,667 72,340 72,071
Other income 523 1,243 2,794
Total revenues 187,014 155,427 93,396
Costs and expenses:      
Interest expense 79,707 64,354 29,868
Real estate expense 2,663 2,480 2,673
Depreciation and amortization 9,562 9,433 9,379
General and administrative [2] 28,753 22,733 14,435
Other expense 868 243 899
Total costs and expenses 121,553 99,243 57,254
Income from operations before other items 65,461 56,184 36,142
Loss on early extinguishment of debt (216) 0 (2,011)
Earnings (losses) from equity method investments 6,279 3,304 (403)
Selling profit from sales-type leases 1,833    
Net income 73,357 59,488 33,728
Net income attributable to noncontrolling interests (234) (194) (6,035)
Net income attributable to Safehold Inc. common shareholders $ 73,123 $ 59,294 $ 27,693
Net income      
Basic (dollars per share) $ 1.35 $ 1.17 $ 0.89
Diluted (dollars per shares) $ 1.35 $ 1.17 $ 0.89
Weighted average number of common shares:      
Basic (in shares) 54,167 50,688 31,008
Diluted (in shares) 54,180 50,697 31,008
Ground Leases with iStar      
Revenues:      
Interest income from sales-type leases $ 8,400 $ 8,200 $ 5,000
Expenses with Related Party, Equity Based Compensation      
Costs and expenses:      
General and administrative $ 24,100 $ 19,400 $ 11,200
[1] For the years ended December 31, 2021, 2020 and 2019, the Company recorded $8.4 million, $8.2 million and $5.0 million, respectively, of “Interest income from sales-type leases” in its consolidated statements of operations from its Ground Leases with iStar Inc. (“iStar”).
[2] For the years ended December 31, 2021, 2020 and 2019, includes $24.1 million, $19.4 million and $11.2 million, respectively, of general and administrative expenses incurred to related parties that includes management fees, expense reimbursements to the Company’s Manager and equity-based compensation.