Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 9

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 9
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 capital5,943,211 5,936,609 Accumulated other comprehensive loss(163,352)(320,524)Cumulative earnings1,569,730 1,648,785 Cumulative distributions to stockholders(5,805,307)(5,744,865)Total Stockholders’ Equity2,146,789 2,122,509 Total Liabilities and Stockholders’ Equity$13,683,313 $12,204,319 

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(1)The consolidated balance sheets include assets and liabilities of consolidated variable interest entities, or VIEs. At March 31, 2025 and December 31, 2024, assets of the VIEs totaled $171,460 and $163,317, and liabilities of the VIEs totaled $161,866 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.

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Table of Contents

TWO HARBORS INVESTMENT CORP.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited)

(in thousands, except per share amounts) 

Three Months EndedMarch 31,20252024Net interest income (expense):Interest income$111,382 $117,783 Interest expense131,714 160,000 Net interest expense(20,332)(42,217)Net servicing income:Servicing income156,859 166,333 Servicing costs3,197 7,119 Net servicing income153,662 159,214 Other (loss) income:Loss on investment securities(32,729)(10,975)(Loss) gain on servicing asset(36,221)11,012 (Loss) gain on interest rate swap and swaption agreements(98,788)98,510 Gain on other derivative instruments1,448 47,599 Gain (loss) on mortgage loans held-for-sale669 (3)Other income761 — Total other (loss) income(164,860)146,143 Expenses:Compensation and benefits26,589 26,529 Other operating expenses20,505 21,052 Total expenses47,094 47,581 (Loss) income before income taxes(78,624)215,559 Provision for income taxes431