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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Interest income from sales-type leases [1] $ 57,062 $ 43,031
Operating lease income 20,901 16,966
Other income 366 366
Total revenues 78,329 60,363
Costs and expenses:    
Interest expense 40,873 25,321
Real estate expense 1,206 707
Depreciation and amortization 2,398 2,402
General and administrative [2] 15,067 9,194
Provision for credit losses 2,242  
Other expense 14,089 108
Total costs and expenses 75,875 37,732
Income from operations before other items 2,454 22,631
Earnings from equity method investments 2,262 2,276
Net income 4,716 24,907
Net (income) attributable to noncontrolling interests (34) (34)
Net income attributable to Safehold Inc. common shareholders $ 4,682 $ 24,873
Net income    
Basic (dollars per share) $ 0.07 $ 0.42
Diluted (dollars per shares) $ 0.07 $ 0.42
Weighted average number of common shares:    
Basic (in shares) 63,672 59,284
Diluted (in shares) 63,672 59,285
Ground Leases with iStar    
Revenues:    
Interest income from sales-type leases   $ 2,100
Expenses with Related Party, Equity Based Compensation    
Costs and expenses:    
General and administrative $ 8,300 $ 7,900
[1] For the three months ended March 31, 2022, the Company recorded $2.1 million of “Interest income from sales-type leases” in its consolidated statements of operations from Ground Leases with iStar Inc. (“iStar”).
[2] For the three months ended March 31, 2023 and 2022, includes $8.3 million and $7.9 million, respectively, of general and administrative expenses incurred to related parties that includes management fees, expense reimbursements to the Former Manager (refer to Note 1) and equity-based compensation.