XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net interest income        
Interest income $ 74,339 $ 53,083 $ 149,955 $ 97,654
Interest expense (44,095) (21,455) (86,757) (37,527)
Interest income on mortgage loans held in securitization trusts 0 9,721 0 19,095
Interest expense on mortgage obligations issued by securitization trusts 0 (8,586) 0 (17,074)
Net interest income 30,244 32,763 63,198 62,148
Property and other income        
Property operating income 21,727 21,781 44,278 45,948
Other income 3,248 787 6,304 1,063
Total property and other income 24,975 22,568 50,582 47,011
Expenses        
Property operating expense 5,443 5,266 11,295 11,990
Transaction, investment and servicing expense 820 982 1,655 2,106
Interest expense on real estate 6,773 7,117 12,282 14,673
Depreciation and amortization 7,941 8,720 15,937 17,314
Increase of current expected credit loss reserve 28,966 10,143 68,579 9,277
Compensation and benefits (including $3,102, $2,286, $5,398 and $4,166 of equity-based compensation expense, respectively) 9,368 8,269 18,173 16,494
Operating expense 3,273 4,070 6,746 8,419
Total expenses 62,584 44,567 134,667 80,273
Other income        
Other gain, net 177 24,332 832 34,620
Income (loss) before equity in earnings of unconsolidated ventures and income taxes (7,188) 35,096 (20,055) 63,506
Equity in earnings of unconsolidated ventures 0 0 9,055 25
Income tax expense (310) (465) (700) (501)
Net income (loss) (7,498) 34,631 (11,700) 63,030
Net (income) loss attributable to noncontrolling interests:        
Investment entities 12 15 87 (7)
Operating Partnership 0 (359) 0 (1,013)
Net income (loss) attributable to BrightSpire Capital, Inc. common stockholders $ (7,486) $ 34,287 $ (11,613) $ 62,010
Net income (loss) per common share - basic (in dollars per share) $ (0.06) $ 0.26 $ (0.09) $ 0.48
Net income (loss) per common share - diluted (in dollars per share) $ (0.06) $ 0.26 $ (0.09) $ 0.47
Weighted average shares of common stock outstanding - basic (in shares) 127,173,000 127,756,000 126,920,000 128,052,000
Weighted average shares of common stock outstanding - diluted (in shares) 127,173,000 129,595,000 126,920,000 129,669,000