Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 166

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 8
Chunk 166
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92,645)$191,007 Reallocation impact of undistributed earnings to participating restricted stock units— 61 Interest expense attributable to convertible notes— 4,619 Net (loss) income attributable to common stockholders, diluted$(92,645)$195,687 Basic weighted average common shares103,976,437 103,401,940 Effect of dilutive shares issued in an assumed vesting of performance share units— 361,286 Effect of dilutive shares issued in an assumed conversion— 9,210,091 Diluted weighted average common shares103,976,437 112,973,317 Diluted (loss) earnings per weighted average common share$(0.89)$1.73 For the three months ended March 31, 2025, excluded from the calculation of diluted earnings per share was the effect of adding undistributed earnings reallocated to 690,043 weighted average participating RSUs as their inclusion would have been antidilutive under the two-class method. For the three months ended March 31, 2024, participating RSUs were included in the calculations of basic and diluted earnings per share under the two-class method, as it was more dilutive than the alternative treasury stock method.For the three months ended March 31, 2025, excluded from the calculation of diluted earnings per share was the effect of adding 623,727 weighted average common share equivalents related to the assumed vesting of outstanding PSUs, as their inclusion would have been antidilutive under the two-class method. For the three months ended March 31, 2024, the assumed vesting of outstanding PSUs was included in the calculation of diluted earnings per share under the two-class method, as it was more dilutive than the alternative treasury stock method. For the three months ended March 31, 2025, excluded from the calculation of diluted earnings per share was the effect of adding back $4.5 million of interest expense and 8,871,339 weighted average common share equivalents related to the assumed conversion of the Company’s convertible senior notes, as their inclusion would have been antidilutive under the two-class method. For the three months ended March 31, 2024, the assumed conversion of the Company’s convertible senior notes (under the if-converted method) was included in the calculation of diluted earnings per share under the two-class method.

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Table of ContentsTWO HARBORS INVESTMENT CORP.Notes to the Consolidated