Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Company's provision for income taxes for the years ended December 31, 2022, 2021 and 2020 is summarized as follows:

	2022		2021		2020
Current:
Federal	$	—	$	(26)	$	(173)
State and local	(1,120)		(1,267)		(1,411)
Deferred federal(1)	18		—		—
Total	$	(1,102)	$	(1,293)	$	(1,584)

(1)     The net deferred tax asset is included in Other assets on the accompanying consolidated balance sheets at December 31, 2022. This net deferred tax asset relates primarily to a net operating loss carryforward.

Statutory Accounting Practices Disclosure

The income tax provision differs from the amount computed by applying the statutory federal income tax rate to pre-tax operating income as follows:

	2022		2021		2020
Federal provision at statutory tax rate (21%)	$	18	$	(35)	$	(195)
State and local taxes, net of federal benefit	—		—		(77)
Other	(1,120)		(1,258)		(1,312)
Total	$	(1,102)	$	(1,293)	$	(1,584)

Summary of Average Taxable Nature of Dividends

A summary of the average taxable nature of the Company's common dividends for each of the years in the three-year period ended December 31, 2022, is as follows:

	2022			2021			2020
Total dividends per share	$	0.48		$	0.43		$	0.42
Ordinary income	81.26		%	65.89		%	95.10		%
Qualifying dividend	—		%	0.1		%	0.6		%
Capital gain	—			—			—
Return of capital	18.74		%	34.01		%	4.3		%
	100.00		%	100.00		%	100.00		%

A summary of the average taxable nature of the Company's dividend on shares of its Series C Preferred for each of the years in the three-year period ended December 31, 2022, is as follows:

	2022			2021			2020
Total dividends per share	$	3.25		$	3.25		$	3.25
Ordinary income	100.00		%	99.84		%	99.38		%
Qualifying dividend	—		%	0.16		%	0.62		%
Capital gain	—			—			—
Return of capital	—			—			—
	100.00		%	100.00		%	100.00		%