Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2013

Stockholders Equity Tables

Schedule of the details the movement in our outstanding class A common stock and restricted class A common stock

The following table details the movement in our outstanding shares of class A common stock and restricted class A common stock for the three months ended March 31, 2013 and March 31, 2012:

	Three Months Ended 31,
Class A Common Stock Outstanding (1)(2)(3)	2013		2012
Beginning balance		2,926,651		2,221,111
Issuance of restricted class A common stock		—		10,000
Forfeiture of restricted class A common stock		—		(404	)
Purchase of shares for tax withholding upon vesting of restricted class A common stock		—		(155	)
Conversion of restricted class A common stock to deferred units		—		(6,000	)
Ending balance		2,926,651		2,224,552

(1) Includes shares of our class A common stock and restricted class A common stock.

(2) Excludes deferred stock units held by members of our board of directors of 91,000, and 58,000 as of March 31, 2013 and 2012, respectively.

(3) Share amounts have been retroactively updated to reflect the one-for-ten reverse stock split which we effected as of May 6, 2013. See Note 14 for further discussion.

Schedule of primary components of accumulated other comprehensive loss

The following table details the primary components of accumulated other comprehensive loss as of March 31, 2012, and significant activity for the three months ended March 31, 2012 (in thousands):

Accumulated Other Comprehensive Loss	Market on Interest Rate Hedges			Deferred Gains on Settled Hedges			Other-than- Temporary Impairments			Unrealized Gains on Securities			Total
Total as of December 31, 2011	($	27,423	)	$	56		($	16,578	)	$	3,361		($	40,584	)
Unrealized gain on derivative financial instruments		2,267			—			—			—			2,267
Ineffective portion of cash flow hedges (1)		1,998			—			—			—			1,998
Amortization of net unrealized gains on securities		—			—			—			(756	)		(756	)
Amortization of net deferred gains on settlement of swaps		—			(56	)		—			—			(56	)
Other-than-temporary impairments of securities (2)		—			—			377			—			377
Deconsolidation of CT Legacy Assets (3)		—			—			3,879			(2,586	)		1,293
Total as of March 31, 2012	($	23,158	)	$	—		($	12,322	)	$	19		($	35,461	)
Allocation to non-controlling interest (3)														—
Accumulated other comprehensive loss as of March 31, 2012													($	35,461	)

(1) As a result of the deconsolidation of CT Legacy Assets in the first quarter of 2012, the balance of accumulated other comprehensive income related to cash flow hedges of CT Legacy Assets was reclassified to interest expense.

(2) Represents other-than-temporary impairments of securities in excess of credit losses, including amortization of prior other-than-temporary impairments of $217,000.

(3) As further described in Note 1 above, we deconsolidated CT Legacy Assets in the first quarter of 2012. As a result, the balances of accumulated other comprehensive income related to CT Legacy Assets, including those allocable to noncontrolling interests are no longer included in our consolidated financial statements.

Schedule of the components of noncontrolling interest

The following table details the components of noncontrolling interests as of March 31, 2013 ($ in thousands):

Noncontrolling Interests in CT Legacy Partners as of March 31, 2013
Gross investment in CT Legacy Partners:
Restricted cash	$	12,719
Securities, at fair value		11,702
Loans receivable, at fair value		150,332
Accrued interest receivable, prepaid expenses, and other assets		8,879
Accounts payable, accrued expenses and other liabilities		(815	)
Repurchase obligations		(20,214	)
Interest rate hedge liabilities		(6,119	)
	$	156,484
Equity interests owned by Blackstone MortgageTrust, Inc.		(70,134	)
Noncontrolling interests in CT Legacy Partners	$	86,350

Schedule of basic and diluted earnings per share, or EPS, based on the weighted average of both restricted and unrestricted class A common stock outstanding

he following table sets forth the calculation of basic and diluted net income per share of class A common stock based on the weighted average of both restricted and unrestricted class A common stock outstanding, for the three months ended March 31, 2013 and 2012 ($ in thousands, except per share amounts):

	Net Income (Loss) per Share of Common  Stock (1)
	Three Months Ended March 31,
	2013			2012
Net (loss) income	($	3,115	)	$	66,553
Weighted average shares outstanding		3,016,425			2,283,741
Warrants & options outstanding for the purchase of class A common stock		—			146,406
Weighted average shares outstanding, diluted		3,016,425			2,430,147
Per share amount, basic	($	1.03	)	$	29.14
Per share amount, diluted	($	1.03	)	$	27.39

(1) Share and per share amounts have been retroactively updated to reflect the one-for-ten reverse stock split which we effected as of May 6, 2013. See Note 14 for further discussion.

Schedule of basic and diluted earnings per share, continuing operations

The following table sets forth the calculation of basic and diluted income from continuing operations per share of class A common stock based on the weighted average of both restricted and unrestricted class A common stock outstanding, for the three months ended March 31, 2013 and 2012 ($ in thousands, except per share amounts):

	Income (Loss) from Continuing Operations per Share of Common Stock (1) Three Months Ended March 31,
	2013			2012
(Loss) income from continuing operations	($	1,597	)	$	141,195
Net income attributable to noncontrolling interests		(1,518	)		(74,069	)
(Loss) income from continuing operations attributable to Capital Trust, Inc.	($	3,115	)	$	67,126
Weighted average shares outstanding		3,016,425			2,283,741
Warrants & options outstanding for the purchase of class A common stock		—			146,405
Weighted average shares outstanding, diluted		3,016,425			2,430,147
Per share amount, basic	($	1.03	)	$	29.39
Per share amount, diluted	($	1.03	)	$	27.63

(1) Share and per share amounts have been retroactively updated to reflect the one-for-ten reverse stock split which we effected as of May 6, 2013. See Note 14 for further discussion.