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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations

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)

Schedule of earnings per share allocable to common shares


		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.