Company: TWO-PC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001465740-25-000140
Chunk: 40

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 40
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321 shares issued and outstanding, respectively1,041 1,037 Additional paid-in capital5,945,210 5,936,609 Accumulated other comprehensive loss(112,879)(320,524)Cumulative earnings1,310,689 1,648,785 Cumulative distributions to stockholders(5,859,502)(5,744,865)Total Stockholders’ Equity1,886,026 2,122,509 Total Liabilities and Stockholders’ Equity$12,959,138 $12,204,319 

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(1)The consolidated balance sheets include assets and liabilities of consolidated variable interest entities, or VIEs. At June 30, 2025 and December 31, 2024, assets of the VIEs totaled $144,486 and $163,317, and liabilities of the VIEs totaled $141,443 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 EndedSix Months EndedJune 30,June 30,2025202420252024Net 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(