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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Operating lease income $ 55,699 $ 60,691 $ 170,990 $ 183,766
Interest income 33,599 31,098 102,224 94,139
Other income 16,888 18,407 40,214 62,253
Land development revenue 14,301 3,290 29,101 11,920
Total revenues 120,487 113,486 342,529 352,078
Costs and expenses:        
Interest expense 56,880 55,424 167,336 169,410
Real estate expense 35,154 41,285 111,143 124,452
Land development cost of sales 10,686 2,763 22,828 10,028
Depreciation and amortization 15,787 17,722 49,804 55,157
General and administrative 21,181 23,377 62,520 69,788
Provision for (recovery of) loan losses [1] 7,500 (673) 30,944 (6,865)
Impairment of assets 3,916 15,462 5,590 21,741
Other expense 3,334 (285) 6,345 4,626
Total costs and expenses 154,438 155,075 456,510 448,337
Income (loss) before earnings from equity method investments and other items (33,951) (41,589) (113,981) (96,259)
Loss on early extinguishment of debt, net (67) (186) (279) (24,953)
Earnings from equity method investments 10,572 49,578 25,904 76,848
Income (loss) from continuing operations before income taxes (23,446) 7,803 (88,356) (44,364)
Income tax (expense) benefit 2,893 (103) (3,796) 619
Income (loss) from continuing operations [2] (20,553) 7,700 (92,152) (43,745)
Income from sales of real estate 26,511 27,791 66,021 61,465
Net income (loss) 5,958 35,491 (26,131) 17,720
Net (income) loss attributable to noncontrolling interests 706 412 3,176 (367)
Net income (loss) attributable to iStar Inc. 6,664 35,903 (22,955) 17,353
Preferred dividends (12,830) (12,830) (38,490) (38,490)
Net (income) loss allocable to HPU holders and Participating Security holders [3],[4] 94 (746) 1,627 683
Net income (loss) allocable to common shareholders $ (6,072) $ 22,327 $ (59,818) $ (20,454)
Basic earnings per common share:        
Income (loss) attributable to iStar Inc. from continuing operations—Basic (in dollars per share) [2] $ (0.07) $ 0.26 $ (0.70) $ (0.24)
Income (loss) attributable to iStar Inc. from continuing operations—Diluted (in dollars per share) [2] (0.07) 0.21 (0.70) (0.24)
Net income (loss) attributable to iStar Inc.—Basic (in dollars per share) [2] (0.07) 0.26 (0.70) (0.24)
Net income (loss) attributable to iStar Inc.—Diluted (in dollars per share) [2] $ (0.07) $ 0.21 $ (0.70) $ (0.24)
Weighted average number of common shares, Basic [2] 85,766 85,163 85,602 84,967
Weighted average number of common shares, Diluted [2] 85,766 130,160 85,602 84,967
Per HPU share data:        
Income (loss) attributable to iStar Inc. from continuing operations—Basic (in dollars per share) [2],[3] $ (13.41) $ 49.60 $ (132.19) $ (45.53)
Income (loss) attributable to iStar Inc. from continuing operations—Diluted (in dollars per share) [2],[3] (13.41) 40.13 (132.19) (45.53)
Net income (loss) attributable to iStar Financial Inc.—Basic (in dollars per share) [2],[3] (13.41) 49.60 (132.19) (45.53)
Net income (loss) attributable to iStar Financial Inc.—Diluted (in dollars per share) [2],[3] $ (13.41) $ 40.13 $ (132.19) $ (45.53)
Weighted average High Performance Units outstanding for basic earnings per share [2],[3] 7 15 12 15
Weighted average High Performance Units outstanding for diluted earnings per share [2],[3] 7 15 12 15
[1] For the three and nine months ended September 30, 2015, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.1 million and $0.6 million, respectively. For the three and nine months ended September 30, 2014, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $0.9 million and $8.5 million, respectively.
[2] Income (loss) from continuing operations attributable to iStar Inc. was $(19.8) million and $(89.0) million for the three and nine months ended September 30, 2015, respectively, and $8.1 million and $(44.1) million for the three and nine months ended September 30, 2014, respectively. Refer to Note 14 for details on the calculation of earnings per share.
[3] All of the Company's outstanding High Performance Units ("HPUs") were repurchased and retired on August 13, 2015 (refer to Note 12)
[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 (refer to Note 13 and Note 14).