XML 33 R23.htm IDEA: XBRL DOCUMENT v3.24.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share

Note 13—Earnings Per Share

Earnings per share (“EPS”) is calculated by dividing net income attributable to common shareholders by the weighted average number of shares outstanding for the period. The following tables present a reconciliation of net income used in the basic and diluted EPS calculations ($ and shares in thousands, except for per share data):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

September 30, 

​

September 30, 

​

    

2024

    

2023

    

2024

    

2023

Net income (loss)

​

$

19,953

​

$

(122,846)

​

$

80,537

​

$

(96,019)

Net (income) loss attributable to noncontrolling interests

​

 

(622)

​

 

(123)

​

 

(813)

​

 

(138)

Net income (loss) attributable to Safehold Inc. common shareholders for basic and diluted earnings per common share

​

$

19,331

​

$

(122,969)

​

$

79,724

​

$

(96,157)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

September 30, 

​

September 30, 

​

    

2024

    

2023

    

2024

    

2023

Earnings attributable to common shares:

 

​

  

 

​

  

 

​

  

 

​

  

Numerator for basic and diluted earnings per share:

 

​

  

 

​

  

 

​

  

 

​

  

Net income (loss) attributable to Safehold Inc. common shareholders - basic

​

$

19,331

​

$

(122,969)

​

$

79,724

​

$

(96,157)

Net income (loss) attributable to Safehold Inc. common shareholders - diluted

​

$

19,331

​

$

(122,969)

​

$

79,724

​

$

(96,157)

​

​

​

​

​

​

​

​

​

​

​

​

​

Denominator for basic and diluted earnings per share:(1)

​

 

  

​

 

  

​

 

  

​

 

  

Weighted average common shares outstanding for basic earnings per common share

​

 

71,436

​

 

67,979

​

 

71,347

​

 

65,214

Add: Effect of assumed shares under treasury stock method for restricted stock units

​

 

104

​

 

—

​

 

67

​

 

—

Weighted average common shares outstanding for diluted earnings per common share

​

 

71,540

​

 

67,979

​

 

71,414

​

 

65,214

​

​

​

​

​

​

​

​

​

​

​

​

​

Basic and diluted earnings per common share:(1)

​

 

  

​

 

  

​

 

  

​

 

  

Net income (loss) attributable to Safehold Inc. common shareholders - basic

​

$

0.27

​

$

(1.81)

​

$

1.12

​

$

(1.47)

Net income (loss) attributable to Safehold Inc. common shareholders - diluted

​

$

0.27

​

$

(1.81)

​

$

1.12

​

$

(1.47)

​

(1)For the three months ended September 30, 2023, the effect of 51 thousand of the Company’s restricted stock units were antidilutive. For the nine months ended September 30, 2024 and 2023, the effect of 10 thousand and 22 thousand, respectively, of the Company’s restricted stock units were antidilutive.