Company: TWO-PC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001465740-25-000152
Chunk: 1

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 1
Chunk 1
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, respectively1,041 1,037 Additional paid-in capital5,946,814 5,936,609 Accumulated other comprehensive loss(51,841)(320,524)Cumulative earnings1,182,768 1,648,785 Cumulative distributions to stockholders(5,908,532)(5,744,865)Total Stockholders’ Equity1,771,717 2,122,509 Total Liabilities and Stockholders’ Equity$10,866,407 $12,204,319 

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(1)The consolidated balance sheets include assets and liabilities of consolidated variable interest entities, or VIEs. At September 30, 2025 and December 31, 2024, assets of the VIEs totaled $124,320 and $163,317, and liabilities of the VIEs totaled $114,006 and $134,931, respectively. See Note 4 - Variable Interest Entities for additional information.

The accompanying notes are an integral part of these consolidated financial statements.

1

Table of Contents

TWO HARBORS INVESTMENT CORP.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (unaudited)

(in thousands, except per share amounts) 

Three Months EndedNine Months EndedSeptember 30,September 30,2025202420252024Net interest expense:Interest income$93,615 $112,642 $322,079 $346,378 Interest expense117,120 154,931 385,535 469,138 Net interest expense(23,505)(42,289)(63,456)(122,760)Net servicing income:Servicing income166,448 171,732 481,661 514,080 Servicing costs3,762 3,900 9,345 15,494 Net servicing income162,686 167,832 472,316 498,586 Other income (loss):(Loss) gain on investment securities(16,187)1,383 (81,746)(32,029)Loss on servicing asset(104,896)(133,349)(177,019)(145,194)Gain (loss) on interest rate swap and swaption agreements4,302 (172,263)(147,436)(51,741)Gain (loss) on other derivative instruments64,596