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Earnings Per Share | 6 Months Ended
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Jun. 30, 2013
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share EPS is calculated using the two-class method, which allocates earnings among common stock and participating securities to calculate EPS when an entity's capital structure includes either two or more classes of common stock or common stock and participating securities. HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit (HPU) Program. These HPU units are treated as a separate class of common stock. The following table presents a reconciliation of income (loss) from continuing operations used in the basic and diluted earnings per share calculations ($ in thousands, except for per share data):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Income (loss) from continuing operations | $ | (56,672 | ) |  | $ | (88,473 | ) |  | $ | (118,606 | ) |  | $ | (130,293 | )
Net (income) loss attributable to noncontrolling interests | 311 |  |  | 722 |  |  | 500 |  |  | 696 |
Income from sales of residential property | 34,319 |  |  | 13,266 |  |  | 58,016 |  |  | 19,999 |
Preferred dividends | (12,780 | ) |  | (10,580 | ) |  | (23,360 | ) |  | (21,160 | )
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders, HPU holders and Participating Security Holders | $ | (34,822 | ) |  | $ | (85,065 | ) |  | $ | (83,450 | ) |  | $ | (130,758 | )
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Earnings allocable to common shares: |  |  |  |  |  |  |
Numerator for basic earnings per share: |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders | $ | (33,699 | ) |  | $ | (82,288 | ) |  | $ | (80,752 | ) |  | $ | (126,476 | )
Income (loss) from discontinued operations | (314 | ) |  | (748 | ) |  | 596 |  |  | (13,677 | )
Gain from discontinued operations | 8,012 |  |  | 24,040 |  |  | 12,892 |  |  | 26,364 |
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders | $ | (26,001 | ) |  | $ | (58,996 | ) |  | $ | (67,264 | ) |  | $ | (113,789 | )
Numerator for diluted earnings per share: |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders | $ | (33,699 | ) |  | $ | (82,288 | ) |  | $ | (80,752 | ) |  | $ | (126,476 | )
Income (loss) from discontinued operations | (314 | ) |  | (748 | ) |  | 596 |  |  | (13,677 | )
Gain from discontinued operations | 8,012 |  |  | 24,040 |  |  | 12,892 |  |  | 26,364 |
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders | $ | (26,001 | ) |  | $ | (58,996 | ) |  | $ | (67,264 | ) |  | $ | (113,789 | )
Denominator for basic and diluted earnings per share: |  |  |  |  |  |  |
Weighted average common shares outstanding for basic and diluted earnings per common share | 85,125 |  |  | 84,113 |  |  | 84,975 |  |  | 83,834 |
Basic earnings per common share: |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders | $ | (0.40 | ) |  | $ | (0.98 | ) |  | $ | (0.95 | ) |  | $ | (1.51 | )
Income (loss) from discontinued operations | — |  |  | (0.01 | ) |  | 0.01 |  |  | (0.16 | )
Gain from discontinued operations | 0.09 |  |  | 0.29 |  |  | 0.15 |  |  | 0.31 |
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders | $ | (0.31 | ) |  | $ | (0.70 | ) |  | $ | (0.79 | ) |  | $ | (1.36 | )
Diluted earnings per common share: |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to common shareholders | $ | (0.40 | ) |  | $ | (0.98 | ) |  | $ | (0.95 | ) |  | $ | (1.51 | )
Income (loss) from discontinued operations | — |  |  | (0.01 | ) |  | 0.01 |  |  | (0.16 | )
Gain from discontinued operations | 0.09 |  |  | 0.29 |  |  | 0.15 |  |  | 0.31 |
Net income (loss) attributable to iStar Financial Inc. and allocable to common shareholders | $ | (0.31 | ) |  | $ | (0.70 | ) |  | $ | (0.79 | ) |  | $ | (1.36 | )
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Earnings allocable to High Performance Units: |  |  |  |  |  |  |
Numerator for basic earnings per HPU share: |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders | $ | (1,123 | ) |  | $ | (2,777 | ) |  | $ | (2,698 | ) |  | $ | (4,282 | )
Income (loss) from discontinued operations | (10 | ) |  | (25 | ) |  | 20 |  |  | (463 | )
Gain from discontinued operations | 267 |  |  | 811 |  |  | 431 |  |  | 893 |
Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders | $ | (866 | ) |  | $ | (1,991 | ) |  | $ | (2,247 | ) |  | $ | (3,852 | )
Numerator for diluted earnings per HPU share: |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders | $ | (1,123 | ) |  | $ | (2,777 | ) |  | $ | (2,698 | ) |  | $ | (4,282 | )
Income (loss) from discontinued operations | (10 | ) |  | (25 | ) |  | 20 |  |  | (463 | )
Gain from discontinued operations | 267 |  |  | 811 |  |  | 431 |  |  | 893 |
Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders | $ | (866 | ) |  | $ | (1,991 | ) |  | $ | (2,247 | ) |  | $ | (3,852 | )
Denominator for basic and diluted earnings per HPU share: |  |  |  |  |  |  |
Weighted average High Performance Units outstanding for basic and diluted earnings per share | 15 |  |  | 15 |  |  | 15 |  |  | 15 |
Basic earnings per HPU share: |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders | $ | (74.87 | ) |  | $ | (185.13 | ) |  | $ | (179.87 | ) |  | $ | (285.46 | )
Income (loss) from discontinued operations | (0.67 | ) |  | (1.67 | ) |  | 1.33 |  |  | (30.87 | )
Gain from discontinued operations | 17.80 |  |  | 54.07 |  |  | 28.73 |  |  | 59.53 |
Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders | $ | (57.74 | ) |  | $ | (132.73 | ) |  | $ | (149.81 | ) |  | $ | (256.80 | )
Diluted earnings per HPU share: |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to iStar Financial Inc. and allocable to HPU holders | $ | (74.87 | ) |  | $ | (185.13 | ) |  | $ | (179.87 | ) |  | $ | (285.46 | )
Income (loss) from discontinued operations | (0.67 | ) |  | (1.67 | ) |  | 1.33 |  |  | (30.87 | )
Gain from discontinued operations | 17.80 |  |  | 54.07 |  |  | 28.73 |  |  | 59.53 |
Net income (loss) attributable to iStar Financial Inc. and allocable to HPU holders | $ | (57.74 | ) |  | $ | (132.73 | ) |  | $ | (149.81 | ) |  | $ | (256.80 | )
For the three and six months ended June 30, 2013 and 2012, the following shares were anti-dilutive (in thousands):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Joint venture shares | 298 |  |  | 298 |  |  | 298 |  |  | 298 |
3% Senior convertible unsecured notes | 16,992 |  |  | — |  |  | 16,992 |  |  | — |
Series J convertible perpetual preferred stock | 15,635 |  |  | — |  |  | 15,635 |  |  | — |

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