Company: TWO-PC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001465740-25-000140
Chunk: 104

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 104
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2 million and $26.2 million, respectively, which was primarily due to net income from MSR servicing activities and net gains recognized on MSR, partially offset by operating expenses incurred in the Company’s TRSs.Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s consolidated financial statements of a contingent tax liability for uncertain tax positions. Additionally, there were no amounts accrued for penalties or interest as of or during the periods presented in these consolidated financial statements.

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Table of ContentsTWO HARBORS INVESTMENT CORP.Notes to the Consolidated Financial Statements (unaudited)

Note 19. Earnings Per Share

The following table presents a reconciliation of the (loss) earnings and shares used in calculating basic and diluted (loss) earnings per share for the three and six months ended June 30, 2025 and 2024:Three Months EndedSix Months EndedJune 30,June 30,(in thousands, except share data)2025202420252024Basic (Loss) Earnings Per Share:Net (loss) income$(259,041)$56,336 $(338,096)$259,924 Dividends on preferred stock(13,239)(11,784)(26,425)(23,568)Gain on repurchase and retirement of preferred stock— — — 644 Dividends and undistributed earnings allocated to participating restricted stock units(344)(330)(748)(1,704)Net (loss) income attributable to common stockholders, basic$(272,624)$44,222 $(365,269)$235,296 Basic weighted average common shares104,084,326 103,555,755 104,030,680 103,478,847 Basic (loss) earnings per weighted average common share$(2.62)$0.43 $(3.51)$2.27 Diluted (Loss) Earnings Per Share:Net (loss) income attributable to common stockholders, basic$(272,624)$44,222 $(365,269)$235,296 Reallocation impact of undistributed earnings to participating restricted stock units— — — 27 Interest expense attributable to convertible notes— — — 9,198 Net (loss) income attributable to common stockholders, diluted$(272,624)$44,222 $(365,269)$244,521 Basic weighted average common shares104,084