Safehold Inc. (SAFE) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
1114 AVENUE OF THE AMERICAS NEW YORK, NY 10036 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6798 - Real Estate Investment Trusts (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 18,761 | 1,442,269 | 339,601 | 98,633 | 307,172 | 931,751 | |||
| Cash and cash equivalents | 18,761 | 1,442,269 | 339,601 | 98,633 | 307,172 | 931,751 | |||
| Deferred costs | 13,210 | ||||||||
| Total current assets: | 31,971 | 1,442,269 | 339,601 | 98,633 | 307,172 | 931,751 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 143,727 | 145,209 | ✕ | ||||||
| Operating lease, right-of-use asset | 33,964 | 16,110 | 20,437 | 48,891 | 34,063 | ✕ | |||
| Inventory, real estate | 232,014 | 286,810 | 430,663 | 580,545 | 598,218 | ||||
| Property, plant and equipment | 979 | ||||||||
| Long-term investments and receivables | 310,320 | ||||||||
| Long-term investments | 310,320 | ||||||||
| Intangible assets, net (including goodwill) | 211,113 | 319 | 1,209 | 156,041 | 174,973 | 156,281 | |||
| Intangible assets, net (excluding goodwill) | 211,113 | 319 | 1,209 | 156,041 | 174,973 | 156,281 | |||
| Deferred income tax assets | 7,619 | ✕ | |||||||
| Total noncurrent assets: | 563,995 | 248,443 | 308,456 | 779,322 | 934,790 | 754,499 | |||
| Other undisclosed assets | 5,952,348 | 1,562,516 | 4,192,477 | 3,983,853 | 3,843,147 | 3,328,027 | |||
| TOTAL ASSETS: | 6,548,314 | 3,253,228 | 4,840,534 | 4,861,808 | 5,085,109 | 5,014,277 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 4,252,638 | 1,826,331 | 3,777,328 | 3,797,425 | 3,847,149 | 3,950,162 | |||
| Total liabilities: | 4,252,638 | 1,826,331 | 3,777,328 | 3,797,425 | 3,847,149 | 3,950,162 | |||
| Temporary equity, carrying amount | 19,011 | ||||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 2,231,253 | 1,408,518 | 851,296 | 870,969 | 1,040,422 | 862,978 | |||
| Preferred stock | 12 | 12 | 12 | ||||||
| Common stock | 711 | 87 | 69 | 74 | 78 | 68 | |||
| Additional paid in capital | 2,184,299 | 3,459,459 | 3,100,015 | 3,240,535 | 3,284,877 | 3,352,225 | |||
| Accumulated other comprehensive income (loss) | (1,337) | 2,230 | (21,587) | (52,680) | (38,707) | (17,270) | |||
| Retained earnings (accumulated deficit) | 47,580 | (2,053,270) | (2,227,213) | (2,316,972) | (2,205,838) | (2,472,061) | |||
| Other undisclosed equity, attributable to parent | 12 | 16 | |||||||
| Equity, attributable to noncontrolling interest | 45,412 | 18,379 | 211,910 | 193,414 | 197,538 | 201,137 | |||
| Total equity: | 2,276,665 | 1,426,897 | 1,063,206 | 1,064,383 | 1,237,960 | 1,064,115 | |||
| TOTAL LIABILITIES AND EQUITY: | 6,548,314 | 3,253,228 | 4,840,534 | 4,861,808 | 5,085,109 | 5,014,277 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 352,578 | 158,051 | 308,630 | 530,949 | 479,496 | 798,122 | ||
| Sales-type lease, interest income | 235,503 | 20,500 | ✕ | |||||
| Operating lease, lease income | 71,287 | ✕ | ||||||
| Cost of revenue | (206,230) | (267,017) | (358,418) | (431,175) | (586,026) | (696,198) | ||
| Provision for loan, lease, and other losses | (2,704) | (44,998) | 8,085 | (10,812) | (6,482) | (16,937) | ||
| Gross profit: | 146,348 | (108,966) | (49,788) | 99,774 | (106,530) | 101,924 | ||
| Operating expenses | (223,870) | (41,850) | (114,419) | (166,798) | 10,129 | (297,942) | ||
| Other operating expense, net (Other Expenses) | (17,862) | (8,913) | (8,114) | (569) | (13,120) | (6,040) | ||
| Other undisclosed operating income | 18,309 | |||||||
| Operating loss: | (77,075) | (159,729) | (172,321) | (67,593) | (109,521) | (202,058) | ||
| Interest and debt expense | (181,011) | (229,251) | (115,400) | (181,612) | (211,643) | (194,118) | ||
| Loss from continuing operations before equity method investments, income taxes: | (258,086) | (388,980) | (287,721) | (249,205) | (321,164) | (396,176) | ||
| Income (loss) from equity method investments | 24,229 | 58,680 | 154,344 | 42,126 | 41,849 | (5,007) | ||
| Other undisclosed income from continuing operations before income taxes | 181,011 | 133,593 | 149,833 | 176,461 | 614,078 | 383,672 | ||
| Income (loss) from continuing operations before income taxes: | (52,846) | (196,707) | 16,456 | (30,618) | 334,763 | (17,511) | ||
| Income tax expense (benefit) | (1,719) | (567) | 118 | (235) | (438) | (815) | ||
| Income (loss) from continuing operations: | (54,565) | (197,274) | 16,574 | (30,853) | 334,325 | (18,326) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 138,026 | (30,853) | 334,325 | (18,326) | |
| Income from discontinued operations | 797,688 | 121,452 | ||||||
| Net income (loss): | (54,565) | 600,414 | 138,026 | (30,853) | 334,325 | (18,326) | ||
| Net loss attributable to noncontrolling interest | (408) | (11,588) | (10,283) | (13,936) | ||||
| Other undisclosed net loss attributable to parent | (179,126) | (5,545) | ||||||
| Net income (loss) attributable to parent: | (54,973) | 421,288 | 132,481 | (42,441) | 324,042 | (32,262) | ||
| Preferred stock dividends and other adjustments | (23,496) | (23,496) | (23,496) | (32,495) | (32,495) | |||
| Net income (loss) available to common stockholders, basic: | (54,973) | 397,792 | 108,985 | (65,937) | 291,547 | (64,757) | ||
| Dilutive securities, effect on basic earnings per share | 9,000 | |||||||
| Net income (loss) available to common stockholders, diluted: | (54,973) | 397,792 | 108,985 | (65,937) | 300,547 | (64,757) | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (54,565) | 600,414 | 138,026 | (30,853) | 334,325 | (18,326) | ||
| Other comprehensive income (loss) | (4,618) | 23,817 | 37,595 | (18,377) | (25,778) | (16,709) | ||
| Comprehensive income (loss): | (59,183) | 624,231 | 175,621 | (49,230) | 308,547 | (35,035) | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (408) | (179,126) | (21,860) | (7,184) | (5,942) | (12,015) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (59,591) | 445,105 | 153,761 | (56,414) | 302,605 | (47,050) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.