Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 200

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 200
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 common shares outstanding and common equity-based awards for the year ended December 31, 2022 have been adjusted on a retroactive basis to reflect the reverse stock split.Year EndedDecember 31,(in thousands, except share data)202420232022Basic Earnings (Loss) Per Share:Net income (loss)$298,168 $(106,371)$220,239 Dividends on preferred stock(47,136)(48,607)(53,607)Gain on repurchase and retirement of preferred stock644 2,973 20,149 Dividends and undistributed earnings allocated to participating restricted stock units(1,693)(1,220)(1,203)Net income (loss) attributable to common stockholders, basic$249,983 $(153,225)$185,578 Basic weighted average common shares103,562,824 95,672,143 86,179,418 Basic earnings (loss) per weighted average common share$2.41 $(1.60)$2.15 Diluted Earnings (Loss) Per Share:Net income (loss) attributable to common stockholders, basic$249,983 $(153,225)$185,578 Reallocation impact of undistributed earnings to participating restricted stock units(77)— — Interest expense attributable to convertible notes18,199 — 19,382 Net income (loss) attributable to common stockholders, diluted$268,105 $(153,225)$204,960 Basic weighted average common shares103,562,824 95,672,143 86,179,418 Effect of dilutive shares issued in an assumed vesting of performance share units477,465 — 157,591 Effect of dilutive shares issued in an assumed conversion9,049,219 — 9,739,166 Diluted weighted average common shares113,089,508 95,672,143 96,076,175 Diluted earnings (loss) per weighted average common share$2.37 $(1.60)$2.13 For the year ended December 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 years ended December 31, 2023 and 2022, excluded from the calculation of diluted earnings per share was the effect of adding undistributed