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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Interest income from sales-type leases $ 72,429 $ 67,120 $ 212,735 $ 195,573
Operating lease income 16,993 16,650 55,081 54,344
Interest income [1] 3,085 2,384 8,130 7,098
Other income [2] 3,655 4,551 11,735 16,798
Total revenues 96,162 90,705 287,681 273,813
Costs and expenses:        
Interest expense 52,497 49,961 154,188 147,699
Real estate expense 1,397 1,047 3,436 3,167
Depreciation and amortization 2,113 2,484 6,436 7,461
General and administrative 13,067 13,116 40,153 41,020
Provision for (recovery of) credit losses 1,025 7,112 5,671 8,447
Other expense 1,184 1,111 3,698 1,561
Total costs and expenses 71,283 74,831 213,582 209,355
Income (loss) from operations before other items 24,879 15,874 74,099 64,458
Earnings (losses) from equity method investments 4,654 4,739 14,558 18,120
Net income (loss) before income taxes 29,533 20,613 88,657 82,578
Income tax expense (215) (660) (1,960) (2,041)
Net income (loss) 29,318 19,953 86,697 80,537
Net (income) loss attributable to noncontrolling interests (36) (622) (104) (813)
Net income (loss) attributable to Safehold Inc. common shareholders $ 29,282 $ 19,331 $ 86,593 $ 79,724
Net income (loss)        
Basic (dollars per share) $ 0.41 $ 0.27 $ 1.21 $ 1.12
Diluted (dollars per shares) $ 0.41 $ 0.27 $ 1.21 $ 1.12
Weighted average number of common shares:        
Basic (in shares) 71,756 71,436 71,673 71,347
Diluted (in shares) 71,843 71,540 71,760 71,414
[1] For the three months ended September 30, 2025 and 2024, includes $2.4 million and $2.4 million, respectively, of interest income from related parties. For the nine months ended September 30, 2025 and 2024, includes $7.1 million and $7.1 million, respectively, of interest income from related parties.
[2] For the three months ended September 30, 2025 and 2024, includes $2.7 million and $3.7 million, respectively, of management fees from related parties. For the nine months ended September 30, 2025 and 2024, includes $9.0 million and $13.6 million, respectively, of management fees from related parties.