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Earnings Per Share | 6 Months Ended
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Jun. 30, 2017
Earnings Per Share [Abstract] |
Earnings Per Share | 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. The following table presents a reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations ($ in thousands, except for per share data):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Income (loss) from continuing operations | $ | 76,117 |  |  | $ | 12,670 |  |  | $ | 47,869 |  |  | $ | (10,670 | )
Income from sales of real estate | 844 |  |  | 43,484 |  |  | 8,954 |  |  | 53,943 |
Net (income) loss attributable to noncontrolling interests | (5,710 | ) |  | (8,825 | ) |  | (4,610 | ) |  | (7,883 | )
Preferred dividends | (12,830 | ) |  | (12,830 | ) |  | (25,660 | ) |  | (25,660 | )
Income from continuing operations attributable to iStar Inc. and allocable to common shareholders and Participating Security Holders for basic earnings per common share(1) | $ | 58,421 |  |  | $ | 34,499 |  |  | $ | 26,553 |  |  | $ | 9,730 |
Add: Effect of joint venture shares | 5 |  |  | 3 |  |  | 9 |  |  | 2 |
Add: Effect of 1.50% senior convertible unsecured notes | — |  |  | 1,140 |  |  | — |  |  | — |
Add: Effect of 3.00% senior convertible unsecured notes | — |  |  | 1,782 |  |  | — |  |  | — |
Add: Effect of Series J convertible perpetual preferred stock | 2,250 |  |  | 2,250 |  |  | 4,500 |  |  | — |
Income from continuing operations attributable to iStar Inc. and allocable to common shareholders and Participating Security Holders for diluted earnings per common share(1) | $ | 60,676 |  |  | $ | 39,674 |  |  | $ | 31,062 |  |  | $ | 9,732 |
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(1) | For the three months ended June 30, 2016, includes income from continuing operations allocable to Participating Security Holders of $20 and $14 on a basic and dilutive basis. For the six months ended June 30, 2016, includes income from continuing operations allocable to Participating Security Holders of $11 on a basic and dilutive basis.
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Earnings allocable to common shares: |  |  |  |  |  |  |
Numerator for basic earnings per share: |  |  |  |  |  |  |
Income from continuing operations attributable to iStar Inc. and allocable to common shareholders | $ | 58,421 |  |  | $ | 34,481 |  |  | $ | 26,553 |  |  | $ | 9,724 |
Income from discontinued operations | 173 |  |  | 3,631 |  |  | 4,939 |  |  | 7,209 |
Gain from discontinued operations | 123,418 |  |  | — |  |  | 123,418 |  |  | — |
Income tax expense from discontinued operations | (4,545 | ) |  | — |  |  | (4,545 | ) |  | — |
Net income attributable to iStar Inc. and allocable to common shareholders | $ | 177,467 |  |  | $ | 38,112 |  |  | $ | 150,365 |  |  | $ | 16,933 |
Numerator for diluted earnings per share: |  |  |  |  |  |  |
Income from continuing operations attributable to iStar Inc. and allocable to common shareholders | $ | 60,676 |  |  | $ | 39,661 |  |  | $ | 31,062 |  |  | $ | 9,726 |
Income from discontinued operations | 173 |  |  | 3,632 |  |  | 4,939 |  |  | 7,209 |
Gain from discontinued operations | 123,418 |  |  | — |  |  | 123,418 |  |  | — |
Income tax expense from discontinued operations | (4,545 | ) |  | — |  |  | (4,545 | ) |  | — |
Net income attributable to iStar Inc. and allocable to common shareholders | $ | 179,722 |  |  | $ | 43,293 |  |  | $ | 154,874 |  |  | $ | 16,935 |
Denominator for basic and diluted earnings per share: |  |  |  |  |  |  |
Weighted average common shares outstanding for basic earnings per common share | 72,142 |  |  | 73,984 |  |  | 72,104 |  |  | 75,522 |
Add: Effect of assumed shares issued under treasury stock method for restricted stock units | 120 |  |  | 34 |  |  | 119 |  |  | 52 |
Add: Effect of joint venture shares | 298 |  |  | 298 |  |  | 298 |  |  | 298 |
Add: Effect of 1.50% senior convertible unsecured notes | — |  |  | 11,567 |  |  | — |  |  | — |
Add: Effect of 3.00% senior convertible unsecured notes | — |  |  | 16,992 |  |  | — |  |  | — |
Add: Effect of series J convertible perpetual preferred stock | 15,635 |  |  | 15,635 |  |  | 15,635 |  |  | — |
Weighted average common shares outstanding for diluted earnings per common share | 88,195 |  |  | 118,510 |  |  | 88,156 |  |  | 75,872 |
Basic earnings per common share: |  |  |  |  |  |  |
Income from continuing operations attributable to iStar Inc. and allocable to common shareholders | $ | 0.81 |  |  | $ | 0.47 |  |  | $ | 0.37 |  |  | $ | 0.13 |
Income from discontinued operations | — |  |  | 0.05 |  |  | 0.07 |  |  | 0.09 |
Gain from discontinued operations | 1.71 |  |  | — |  |  | 1.71 |  |  | — |
Income tax expense from discontinued operations | (0.06 | ) |  | — |  |  | (0.06 | ) |  | — |
Net income attributable to iStar Inc. and allocable to common shareholders | $ | 2.46 |  |  | $ | 0.52 |  |  | $ | 2.09 |  |  | $ | 0.22 |
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Diluted earnings per common share: |  |  |  |  |  |  |
Income from continuing operations attributable to iStar Inc. and allocable to common shareholders | $ | 0.69 |  |  | $ | 0.34 |  |  | $ | 0.35 |  |  | $ | 0.13 |
Income from discontinued operations | — |  |  | 0.03 |  |  | 0.06 |  |  | 0.09 |
Gain from discontinued operations | 1.40 |  |  | — |  |  | 1.40 |  |  | — |
Income tax expense from discontinued operations | (0.05 | ) |  | — |  |  | (0.05 | ) |  | — |
Net income attributable to iStar Inc. and allocable to common shareholders | $ | 2.04 |  |  | $ | 0.37 |  |  | $ | 1.76 |  |  | $ | 0.22 |
The following shares were not included in the diluted EPS calculation because they were anti-dilutive (in thousands):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
3.00% convertible senior unsecured notes | — |  |  | — |  |  | — |  |  | 16,992 |
Series J convertible perpetual preferred stock | — |  |  | — |  |  | — |  |  | 15,635 |
1.50% convertible senior unsecured notes | — |  |  | — |  |  | — |  |  | 11,567 |
Joint venture shares | — |  |  | — |  |  | — |  |  | — |
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(1) | For the three and six months ended June 30, 2017, the effect of 5 and 20 unvested time and performance-based Units were anti-dilutive, respectively.
(2) | For the three and six months ended June 30, 2016, the effect of 54 and 103 unvested time and performance-based Units were anti-dilutive, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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