v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Interest income from loans $ 398,415 $ 385,219 $ 772,226 $ 739,142
Interest income from investment securities 4,750 10,313 10,188 22,534
Servicing fees 16,667 14,080 64,687 31,540
Rental income 87,854 28,243 167,825 57,426
Other revenues 5,982 6,428 11,198 11,821
Total revenues 513,668 444,283 1,026,124 862,463
Costs and expenses:        
Management fees 30,557 30,833 66,739 71,596
Interest expense 344,577 316,132 673,483 608,290
General and administrative 56,694 51,072 115,027 99,219
Costs of rental operations 26,313 14,512 49,447 29,332
Depreciation and amortization 35,260 10,371 68,986 21,855
Credit loss provision (reversal), net 30,164 5,666 29,787 (19,333)
Other expense 1,203 1,893 1,604 3,744
Total costs and expenses 524,768 430,479 1,005,073 814,703
Other income (loss):        
Change in net assets related to consolidated VIEs 33,087 40,280 65,589 68,971
Change in fair value of servicing rights 1,744 2,363 1,207 3,116
Change in fair value of investment securities, net (52) 345 37 172
Change in fair value of mortgage loans, net (61) 29,867 (12,729) 88,271
Earnings from unconsolidated entities 2,716 7,872 3,534 8,409
Gain on sale of investments and other assets, net 2,379 31,662 3,058 31,662
Loss on derivative financial instruments, net (3,024) (101,296) (5,487) (140,985)
Foreign currency (loss) gain, net (5,706) 83,761 (11,796) 118,552
Gain (loss) on extinguishment of debt 0 19,990 (335) 19,990
Other (loss) income, net (3,683) 1,604 (6,816) 291
Total other (loss) income 32,329 121,563 53,655 207,474
Income (loss) before income taxes 21,229 135,367 74,706 255,234
Income tax provision (6,224) (671) (2,279) (4,437)
Net income (loss) 15,005 134,696 72,427 250,797
Net income attributable to non-controlling interests (8,448) (4,882) (13,992) (8,728)
Net income (loss) attributable to Starwood Property Trust, Inc. $ 6,557 $ 129,814 $ 58,435 $ 242,069
Earnings per share data attributable to Starwood Property Trust, Inc.:        
Basic (in dollars per share) $ 0.01 $ 0.38 $ 0.15 $ 0.71
Diluted (in dollars per share) $ 0.01 $ 0.38 $ 0.15 $ 0.71
Primary Beneficiary        
Other income (loss):        
Income from affordable housing fund investments $ 4,929 $ 5,115 $ 17,393 $ 9,025