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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Net interest income    
Interest income $ 44,570 $ 34,374
Interest expense (16,072) (12,495)
Interest income on mortgage loans held in securitization trusts 9,375 19,689
Interest expense on mortgage obligations issued by securitization trusts (8,488) (17,336)
Net interest income 29,385 24,232
Property and other income    
Property operating income 24,168 25,722
Other income 276 45
Total property and other income 24,444 25,767
Expenses    
Management fee expense 0 7,258
Property operating expense 6,724 8,111
Transaction, investment and servicing expense 1,124 2,288
Interest expense on real estate 7,556 8,633
Depreciation and amortization 8,594 9,539
Increase (decrease) of current expected credit loss reserve (866) 3,225
Compensation and benefits 8,225 6,786
Operating expense 4,349 5,809
Restructuring charges 0 109,171
Total expenses 35,706 160,820
Other income    
Unrealized (gain) loss on mortgage loans and obligations held in securitization trusts, net 0 8,638
Other gain, net 10,288 8,367
Income (loss) before equity in earnings of unconsolidated ventures and income taxes 28,411 (93,816)
Equity in earnings (loss) of unconsolidated ventures 25 (2,478)
Income tax benefit (expense) (36) 1,801
Net income (loss) 28,400 (94,493)
Net (income) loss attributable to noncontrolling interests:    
Investment entities (22) 226
Operating Partnership (654) 1,953
Net income (loss) attributable to BrightSpire Capital, Inc. common stockholders $ 27,724 $ (92,314)
Net income (loss) per common share - basic (in dollars per share) $ 0.21 $ (0.71)
Net income (loss) per common share - diluted (in dollars per share) $ 0.21 $ (0.71)
Weighted average shares of common stock outstanding - basic (in shares) 128,758,000 129,781,000
Weighted average shares of common stock outstanding - diluted (in shares) 129,745,000 129,781,000