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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Operating lease income $ 56,152 $ 60,967 $ 115,291 $ 123,075
Interest income 33,729 35,127 68,625 63,041
Other income 12,761 29,262 23,325 43,846
Land development revenue 6,543 4,487 14,801 8,630
Total revenues 109,185 129,843 222,042 238,592
Costs and expenses:        
Interest expense 55,824 56,530 110,456 113,986
Real estate expense 36,355 40,554 75,989 83,167
Land development cost of sales 5,252 3,611 12,142 7,265
Depreciation and amortization 15,516 18,822 34,017 37,435
General and administrative 20,586 26,623 41,340 46,411
Provision for (recovery of) loan losses [1] 19,151 (2,792) 23,444 (6,192)
Impairment of assets 1,674 3,300 1,674 6,279
Other expense 888 4,690 3,011 4,911
Total costs and expenses 155,246 151,338 302,073 293,262
Income (loss) before earnings from equity method investments and other items (46,061) (21,495) (80,031) (54,670)
Loss on early extinguishment of debt, net (44) (23,587) (212) (24,767)
Earnings from equity method investments 8,785 24,093 15,332 27,270
Income (loss) from continuing operations before income taxes (37,320) (20,989) (64,911) (52,167)
Income tax (expense) benefit (811) 215 (6,688) 722
Income (loss) from continuing operations [2] (38,131) (20,774) (71,599) (51,445)
Income from sales of real estate 18,355 17,180 39,511 33,674
Net income (loss) (19,776) (3,594) (32,088) (17,771)
Net (income) loss attributable to noncontrolling interests 629 (325) 2,470 (779)
Net income (loss) attributable to iStar Financial Inc. (19,147) (3,919) (29,618) (18,550)
Preferred dividends (12,830) (12,830) (25,660) (25,660)
Net (income) loss allocable to HPU holders and Participating Security holders [3],[4] 1,027 542 1,776 1,431
Net income (loss) allocable to common shareholders $ (30,950) $ (16,207) $ (53,502) $ (42,779)
Per basic and diluted share data:        
Income (loss) attributable to iStar Financial Inc. from continuing operations—Basic and diluted (in dollars per share) [2] $ (0.36) $ (0.19) $ (0.63) $ (0.50)
Net income (loss) attributable to iStar Financial Inc.—Basic and diluted (in dollars per share) [2] $ (0.36) $ (0.19) $ (0.63) $ (0.50)
Weighted average number of common shares—Basic and diluted [2] 85,541 84,916 85,519 84,868
Per HPU share data:        
Income (loss) attributable to iStar Financial Inc. from continuing operations—Basic and diluted (in dollars per share) [2],[3] $ (68.47) $ (36.13) $ (118.40) $ (95.40)
Net income (loss) attributable to iStar Financial Inc.—Basic and diluted (in dollars per share) [2],[3] $ (68.47) $ (36.13) $ (118.40) $ (95.40)
Weighted average High Performance Units outstanding for basic and diluted earnings per share [2],[3] 15 15 15 15
[1] For the three and six months ended June 30, 2015, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.3 million and $0.6 million, respectively. For the three and six months ended June 30, 2014, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $2.4 million and $7.6 million, respectively.
[2] Income (loss) from continuing operations attributable to iStar Financial Inc. was $(37.5) million and $(69.1) million for the three and six months ended June 30, 2015, respectively, and $(21.1) million and $(52.2) million for the three and six months ended June 30, 2014, respectively. See Note 14 for details on the calculation of earnings per share.
[3] HPU holders are current and former Company employees who purchased high performance common stock units under the Company's High Performance Unit Program.
[4] Participating Security holders are non-employee directors who hold common stock equivalents and restricted stock awards granted under the Company's Long Term Incentive Plans that are eligible to participate in dividends (see Note 13 and Note 14).