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Combined and Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Net Parent Investment
Noncontrolling Interests
Total
Beginning Balance at Dec. 31, 2022         $ 971,543 $ 726 $ 972,269
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss)     $ (180,761)   85 2 (180,674)
Change in accumulated other comprehensive income (loss)         (989)   (989)
Common shares issued in conjunction with Spin-Off (refer to Note 1) $ 13 $ 607,623     (607,636)    
Stock-based compensation         1,778   1,778
Net transactions with iStar Inc.         $ (364,781)   (364,781)
Contributions from noncontrolling interests           3,098 3,098
Change in noncontrolling interest           (23) (23)
Ending Balance at Jun. 30, 2023 13 607,623 (180,761)     3,803 430,678
Beginning Balance at Mar. 31, 2023 13 607,623 (90,800)     3,799 520,635
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss)     (89,961)     27 (89,934)
Change in noncontrolling interest           (23) (23)
Ending Balance at Jun. 30, 2023 13 607,623 (180,761)     3,803 430,678
Beginning Balance at Dec. 31, 2023 13 607,623 (196,441) $ 359   22,286 433,840 [1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss)     (76,096)     (852) (76,948)
Change in accumulated other comprehensive income (loss)       (143)     (143)
Distributions to noncontrolling interests           (16) (16)
Contributions from noncontrolling interests           27 27
Change in noncontrolling interest           (5) (5)
Ending Balance at Jun. 30, 2024 13 607,623 (272,537) 216   21,440 356,755 [1]
Beginning Balance at Mar. 31, 2024 13 607,623 (245,422) 206   22,288 384,708
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss)     (27,115)     (837) (27,952)
Change in accumulated other comprehensive income (loss)       10     10
Distributions to noncontrolling interests           (9) (9)
Change in noncontrolling interest           (2) (2)
Ending Balance at Jun. 30, 2024 $ 13 $ 607,623 $ (272,537) $ 216   $ 21,440 $ 356,755 [1]
[1] Refer to Note 2 for details on the Company’s combined and consolidated variable interest entities (“VIEs”).