Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Segment Reporting Information, by Segment

The following presents select operational results for the reportable segments (in thousands):


	For the Three Months Ended September 30,
	2024								2023
	Revenues		Expenses		Other income and expenses		Net loss		Revenues		Expenses		Other income and expenses		Net loss
NexPoint Diversified Real Estate Trust	$	13,529	$	(12,037)	$	(12,740)	$	(11,247)	$	12,364	$	(12,885)	$	(67,437)	$	(67,958)
NexPoint Hospitality Trust	8,687		(16,125)		3,266		(4,173)		—		—		—		—
Total Company	$	22,216	$	(28,162)	$	(9,474)	$	(15,420)	$	12,364	$	(12,885)	$	(67,437)	$	(67,958)


	For the Nine Months Ended September 30,
	2024								2023
	Revenues		Expenses		Other income and expenses		Net loss		Revenues		Expenses		Other income and expenses		Net loss
NexPoint Diversified Real Estate Trust	$	39,285	$	(36,949)	(41,566)		$	(39,230)	$	41,110	$	(39,276)	(103,180)		$	(101,346)
NexPoint Hospitality Trust	18,011		(25,431)		(840)		(8,260)		—		—		—		—
Total Company	$	57,295	$	(62,379)	$	(42,407)	$	(47,490)	$	41,110	$	(39,276)	$	(103,180)	$	(101,346)

The following presents select balance sheet data for the reportable segments (in thousands):


	As of September 30, 2024						As of December 31, 2023
	NexPoint Diversified Real Estate Trust		NexPoint Hospitality Trust		Total Company		NexPoint Diversified Real Estate Trust		NexPoint Hospitality Trust		Total Company
Assets
Gross operating real estate investments	$	276,686	$	166,867	$	443,553	$	284,439	$	—	$	284,439
Accumulated depreciation and amortization	(28,485)		(2,513)		(30,998)		(20,525)		—		(20,525)
Net operating real estate investments	248,201		164,354		412,555		263,914		—		263,914

Net real estate investments	248,201		164,354		412,555		263,914		—		263,914
Other assets	808,061		20,098		828,159		834,422		—		834,422
Total assets	$	1,056,262	$	184,452	$	1,240,714	$	1,098,336	$	—	$	1,098,336

The following table, which has not been adjusted for the effects of NCI, reconciles our NOI for the three and nine months ended September 30, 2024 to net loss, the most directly comparable GAAP financial measure by reportable segment (in thousands):


	For the Three Months Ended September 30, 2024						For the Nine Months Ended September 30, 2024
	NexPoint Diversified Real Estate Trust		NexPoint Hospitality Trust		Total		NexPoint Diversified Real Estate Trust		NexPoint Hospitality Trust		Total
Net loss	$	(11,247)	$	(4,173)	$	(15,420)	$	(39,230)	$	(8,260)	$	(47,490)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees	3,720		256		3,976		10,140		525		10,665
Corporate general and administrative expenses	1,646		1,197		2,843		7,107		1,766		8,873
Income tax expense	748		(48)		700		1,583		(30)		1,553
Depreciation and amortization	3,150		1,360		4,510		8,694		2,714		11,408
Interest expense	4,461		3,827		8,288		13,371		7,299		20,670
Non-operating property investment revenue¹	(8,126)		(925)		(9,050)		(25,386)		(1,299)		(26,685)
Realized (gains) losses from non-real estate investments	1		—		1		21,876		—		21,876
Change in unrealized (gains) losses from non-real estate investments	885		—		885		(2,251)		—		(2,251)
Equity in (income) losses of unconsolidated equity method ventures	(400)		—		(400)		558		—		558
Impairment loss	—		6,134		6,134		—		6,134		6,134
NOI	$	(5,161)	$	7,628	$	2,467	$	(3,538)	$	8,849	$	5,311

(1) Non-operating property investment revenue is defined as revenue included in the consolidated financial statements that are from non-operating properties such as dividend income and interest income.