Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 116

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 116
---
 integral part of these consolidated financial statements.

60

TWO HARBORS INVESTMENT CORP.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(in thousands, except share data) 

Year EndedDecember 31,202420232022Net interest income (expense):Interest income$450,152 $480,364 $295,540 Interest expense607,806 643,225 258,395 Net interest (expense) income(157,654)(162,861)37,145 Net servicing income:Servicing income681,648 685,777 603,911 Servicing costs20,069 95,488 94,119 Net servicing income661,579 590,289 509,792 Other income (loss):Loss on investment securities(40,038)(69,970)(603,937)(Loss) gain on servicing asset(62,674)(111,620)425,376 Gain (loss) on interest rate swap and swaption agreements147,871 (52,946)29,499 (Loss) gain on other derivative instruments(41,017)(166,210)9,310 Gain on mortgage loans held-for-sale1,482 — 9 Other income (loss)1,199 5,103 (14)Total other income (loss)6,823 (395,643)(139,757)Expenses:Compensation and benefits89,753 52,865 40,723 Other operating expenses76,241 62,313 42,005 Total expenses165,994 115,178 82,728 Income (loss) before income taxes344,754 (83,393)324,452 Provision for income taxes46,586 22,978 104,213 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 Net income (loss) attributable to common stockholders$251,676 $(152,005)$186,781 Basic earnings (loss) per weighted average common share$2.41 $(1.60)$2.15 Diluted earnings (loss) per weighted average common share$2.37 $(1.60)$2.13