Earnings Per Share

3 Months Ended

Mar. 31, 2021

The following table presents a reconciliation of income from operations used in the basic and diluted earnings per share ("EPS") calculations ($ in thousands, except for per share data):


	For the Three Months Ended March 31,
	2021		2020
Net income (loss)	$	7,989	$	(12,885)
Net income attributable to noncontrolling interests	(2,520)		(2,691)
Preferred dividends	(5,874)		(5,874)


Net loss allocable to common shareholders for basic and diluted earnings per common share	$	(405)	$	(21,450)


	For the Three Months Ended March 31,
	2021		2020
Earnings allocable to common shares:
Numerator for basic and diluted earnings per share:
Net loss attributable to iStar Inc. and allocable to common shareholders	$	(405)	$	(21,450)











Denominator for basic and diluted earnings per share:






Weighted average common shares outstanding for basic and diluted earnings per common share	73,901		77,444

Basic and diluted earnings per common share:(1)




Net loss allocable to common shareholders	$	(0.01)	$	(0.28)

____________________________________________________________

(1)For the three months ended March 31, 2021 and 2020, the effect of the Company's restricted stock awards were anti-dilutive. For the three months ended March 31, 2021, 2,893,787 shares of the 3.125% Convertible Notes (refer to Note 11) were anti-dilutive based upon the conversion price for such period. For the three months ended March 31, 2020, no shares of common stock would have been issuable upon conversion of the 3.125% Convertible Notes, and therefore the 3.125% Convertible Notes had no effect on diluted EPS for such period.