XML 64 R47.htm IDEA: XBRL DOCUMENT
v3.25.4

Goodwill and Intangibles (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangibles Assets | The following table summarizes our intangible assets, which are comprised of servicing rights intangibles and lease intangibles, as of December 31, 2025 and 2024 (amounts in thousands):
| As of December 31, 2025 |  | As of December 31, 2024
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Domestic servicing rights, at fair value | $ | 28,280 |  |  | $ | — |  |  | $ | 28,280 |  |  | $ | 22,390 |  |  | $ | — |  |  | $ | 22,390 |
In-place lease intangible assets | 399,387 |  |  | (73,986) |  |  | 325,401 |  |  | 93,826 |  |  | (70,569) |  |  | 23,257 |
Favorable lease intangible assets | 95,943 |  |  | (13,565) |  |  | 82,378 |  |  | 27,798 |  |  | (12,741) |  |  | 15,057 |
Total net intangible assets | $ | 523,610 |  |  | $ | (87,551) |  |  | $ | 436,059 |  |  | $ | 144,014 |  |  | $ | (83,310) |  |  | $ | 60,704 |
Memo: Unfavorable lease (liabilities) (1) | $ | (35,460) |  |  | $ | 2,778 |  |  | $ | (32,682) |  |  | $ | (3,105) |  |  | $ | 2,019 |  |  | $ | (1,086) |
_____________________________________________________________________________________________________________________ (1)Unfavorable lease liabilities are classified within accounts payable, accrued expenses and other liabilities on our consolidated balance sheets.
Schedule of Activity within Intangible Assets | The following table summarizes the activity within intangible assets for the years ended December 31, 2025 and 2024 (amounts in thousands):
| Domestic Servicing Rights |  | In-place Lease Intangible Assets |  | Favorable Lease Intangible Assets |  | Total |  | Memo: Unfavorable Lease Liabilities
Balance as of January 1, 2024 | $ | 19,384 |  |  | $ | 28,738 |  |  | $ | 16,845 |  |  | $ | 64,967 |  |  | $ | (1,903) |
Amortization | — |  |  | (5,481) |  |  | (1,788) |  |  | (7,269) |  |  | 302 |
Sales | — |  |  | — |  |  | — |  |  | — |  |  | 515 |
Changes in fair value due to changes in inputs and assumptions | 3,006 |  |  | — |  |  | — |  |  | 3,006 |  |  | — |
Balance as of December 31, 2024 | $ | 22,390 |  |  | $ | 23,257 |  |  | $ | 15,057 |  |  | $ | 60,704 |  |  | $ | (1,086) |
Acquisitions (1) | — |  |  | 319,904 |  |  | 72,217 |  |  | 392,121 |  |  | (33,087) |
Amortization | — |  |  | (11,993) |  |  | (3,075) |  |  | (15,068) |  |  | 1,130 |
Sales | — |  |  | (5,767) |  |  | (1,821) |  |  | (7,588) |  |  | 361 |
Changes in fair value due to changes in inputs and assumptions | 5,890 |  |  | — |  |  | — |  |  | 5,890 |  |  | — |
Balance as of December 31, 2025 | $ | 28,280 |  |  | $ | 325,401 |  |  | $ | 82,378 |  |  | $ | 436,059 |  |  | $ | (32,682) |
_________________________________________________ (1) Represents in-place and favorable lease intangible assets and unfavorable lease liabilities related to the acquisition of Fundamental in July 2025 and subsequent property acquisitions by Fundamental with in-place leases. The weighted average amortization period of these lease intangible assets and unfavorable lease liabilities is 17.3 years and 15.2 years, respectively.
Schedule of Future Amortization Expense | The following table sets forth the estimated aggregate amortization of our in-place lease intangible assets, favorable lease intangible assets and unfavorable lease liabilities for the next five years and thereafter (amounts in thousands):
| Asset Amortization |  | Liability Amortization
2026 | $ | 27,049 |  |  | $ | (2,348) |
2027 | 26,786 |  |  | (2,324) |
2028 | 26,783 |  |  | (2,323) |
2029 | 26,749 |  |  | (2,322) |
2030 | 26,497 |  |  | (2,322) |
Thereafter | 273,915 |  |  | (21,043) |
Total | $ | 407,779 |  |  | $ | (32,682) |

X
- Definition Represents the summary of movement in the intangible assets during the reporting period. + References No definition available. + Details
Name: | stwd_SummaryOfMovementInFiniteAndIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | stwd_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired in business combination. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_FiniteLivedAndIndefiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 40 -SubTopic 30 -Topic 350 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration