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Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Net Income and Number of Shares used in Computation of Earnings Per Share
The following table provides a reconciliation of net income and the number of shares of common stock used in the computation of basic EPS and diluted EPS (amounts in thousands, except per share amounts):
For the Three Months Ended
March 31,
20242023
Basic Earnings
Income attributable to STWD common stockholders$154,332 $51,974 
Less: Income attributable to participating shares not already deducted as non-controlling interests(2,576)(1,811)
Basic earnings$151,756 $50,163 
Diluted Earnings
Income attributable to STWD common stockholders$154,332 $51,974 
Less: Income attributable to participating shares not already deducted as non-controlling interests(2,576)(1,811)
Add: Interest expense on Convertible Notes7,005 *
Add: Undistributed earnings to participating shares68 — 
Less: Undistributed earnings reallocated to participating shares(65)— 
Diluted earnings$158,764 $50,163 
Number of Shares:
Basic — Average shares outstanding311,827 308,408 
Effect of dilutive securities — Convertible Notes18,344 *
Effect of dilutive securities — Contingently issuable shares469 357 
Effect of dilutive securities — Unvested non-participating shares200 231 
Diluted — Average shares outstanding330,840 308,996 
Earnings Per Share Attributable to STWD Common Stockholders:
Basic$0.49 $0.16 
Diluted$0.48 $0.16 
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*    Our Convertible Notes were not dilutive for the three months ended March 31, 2023.