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Earnings Per Share | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Earnings Per Share | Note 16—Earnings Per Share 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 September 30, | ​ | For the Nine Months Ended September 30, | ​
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020 | ​
Net income (loss) | ​ | $ | 130,994 | ​ | $ | 6,451 | ​ | $ | 127,567 | ​ | $ | (20,793) | ​
Net income attributable to noncontrolling interests | ​ |  | (3,264) | ​ |  | (2,646) | ​ |  | (8,037) | ​ |  | (8,435) | ​
Preferred dividends | ​ |  | (5,874) | ​ |  | (5,874) | ​ |  | (17,622) | ​ |  | (17,622) | ​
Net income (loss) allocable to common shareholders for basic and diluted earnings per common share | ​ | $ | 121,856 | ​ | $ | (2,069) | ​ | $ | 101,908 | ​ | $ | (46,850) | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended September 30, | ​ | For the Nine Months Ended September 30, | ​
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020 | ​
Earnings allocable to common shares: |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | ​
Numerator for basic earnings per share: |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | ​
Net income (loss) attributable to iStar Inc. and allocable to common shareholders | ​ | $ | 121,856 | ​ | $ | (2,069) | ​ | $ | 101,908 | ​ | $ | (46,850) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Numerator for diluted earnings per share: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Net income (loss) allocable to common shareholders | ​ | $ | 121,856 | ​ | $ | (2,069) | ​ | $ | 101,908 | ​ | $ | (46,850) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Denominator for basic and diluted earnings per share: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Weighted average common shares outstanding for basic earnings per common share | ​ | ​ | 71,299 | ​ | ​ | 75,033 | ​ | ​ | 72,675 | ​ | ​ | 76,232 | ​
Add: Effect of assumed shares issued under treasury stock method for restricted stock units | ​ | ​ | 221 | ​ | ​ | — | ​ | ​ | 206 | ​ | ​ | — | ​
Add: Effect of convertible debt | ​ | ​ | 8,967 | ​ | ​ | — | ​ | ​ | 5,521 | ​ | ​ | — | ​
Weighted average common shares outstanding for basic and diluted earnings per common share | ​ |  | 80,487 | ​ |  | 75,033 | ​ |  | 78,402 | ​ |  | 76,232 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic and diluted earnings per common share:(1) | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Net income (loss) allocable to common shareholders | ​ | $ | 1.71 | ​ | $ | (0.03) | ​ | $ | 1.40 | ​ | $ | (0.61) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted earnings per common share:(1) | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Net income (loss) allocable to common shareholders | ​ | $ | 1.51 | ​ | $ | (0.03) | ​ | $ | 1.30 | ​ | $ | (0.61) | ​
(1) | For the three and nine months ended September 30, 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 periods.

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