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Earnings Per Share | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Note 13—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 June 30, | ​ | For the Six Months Ended June 30, | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 | ​
Net income (loss) | ​ | $ | (27,952) | ​ | $ | (89,934) | ​ | $ | (76,948) | ​ | $ | (180,674) | ​
Net (income) loss from operations attributable to noncontrolling interests | ​ |  | 837 | ​ |  | (27) | ​ |  | 852 | ​ |  | (2) | ​
Net income (loss) allocable to common shareholders | ​ | $ | (27,115) | ​ | $ | (89,961) | ​ | $ | (76,096) | ​ | $ | (180,676) | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended June 30, | ​ | For the Six Months Ended June 30, | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 | ​
Earnings allocable to common shares: |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | ​
Numerator for basic and diluted earnings per share: |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | ​
Net income (loss) allocable to common shareholders | ​ | $ | (27,115) | ​ | $ | (89,961) | ​ | $ | (76,096) | ​ | $ | (180,676) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Denominator for basic and diluted earnings per share:(1) | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Weighted average common shares outstanding for basic and diluted earnings per common share | ​ |  | 13,320 | ​ |  | 13,320 | ​ |  | 13,320 | ​ |  | 13,320 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic and diluted earnings per common share: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Net income (loss) allocable to common shareholders | ​ | $ | (2.04) | ​ | $ | (6.75) | ​ | $ | (5.71) | ​ | $ | (13.56) | ​
(1) | For periods presented prior to the Spin-Off, the weighted average shares outstanding for the EPS calculation assumes the pro rata distribution of 0.153 common shares of the Company’s common stock for each outstanding share of iStar Common Stock on the record date of the distribution were issued and outstanding.
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