Company: TWO-PC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001465740-25-000140
Chunk: 15

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 2
Chunk 15
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 ended June 30, 2024, respectively.

53

The following table presents the components of our comprehensive (loss) income for the three and six months ended June 30, 2025 and 2024:

(in thousands, except per share amounts)Three Months EndedSix Months EndedIncome Statement Data:June 30,June 30,2025202420252024(unaudited)(unaudited)Net interest expense:Interest income$117,082 $115,953 $228,464 $233,736 Interest expense136,701 154,207 268,415 314,207 Net interest expense(19,619)(38,254)(39,951)(80,471)Net servicing income:Servicing income158,354 176,015 315,213 342,348 Servicing costs2,386 4,475 5,583 11,594 Net servicing income155,968 171,540 309,630 330,754 Other (loss) income:Loss on investment securities(32,830)(22,437)(65,559)(33,412)Loss on servicing asset(35,902)(22,857)(72,123)(11,845)(Loss) gain on interest rate swap and swaption agreements(52,950)22,012 (151,738)120,522 (Loss) gain on other derivative instruments(31,257)(750)(29,809)46,849 Gain (loss) on mortgage loans held-for-sale883 — 1,552 (3)Other income1,038 226 1,799 226 Total other (loss) income(151,018)(23,806)(315,878)122,337 Expenses:Compensation and benefits21,469 21,244 48,058 47,773 Other operating expenses21,307 17,699 41,812 38,751 Loss contingency accrual199,935 — 199,935 — Total expenses242,711 38,943 289,805 86,524 (Loss) income before income taxes(257,380)70,537 (336,004)286,096 Provision for income taxes1,661 14,201 2,092 26,172 Net (loss) income(259,041)56,336 (338,096)259,924