Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 119

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 119
---
— — — — — (187,906)(187,906)Non-cash equity award compensation— 4 10,942 — — — 10,946 Balance, December 31, 2024$601,467 $1,037 $5,936,609 $(320,524)$1,648,785 $(5,744,865)$2,122,509 

The accompanying notes are an integral part of these consolidated financial statements.

62

TWO HARBORS INVESTMENT CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands) 

Year EndedDecember 31,202420232022Cash Flows From Operating Activities:Net income (loss)$298,168 $(106,371)$220,239 Adjustments to reconcile net income (loss) to net cash provided by operating activities:Amortization of premiums and discounts on investment securities, net15,773 25,406 79,794 Amortization of deferred debt issuance costs on term notes payable and convertible senior notes2,053 2,589 2,678 Provision for (reversal of provision for) credit losses on investment securities259 (545)2,730 Realized and unrealized losses on investment securities39,779 70,515 601,207 Loss (gain) on servicing asset62,674 111,620 (425,376)Realized and unrealized (gains) losses on interest rate swaps and swaptions(89,344)74,304 (34,328)Unrealized (gains) losses on other derivative instruments(58,063)102,694 13,797 Gains on mortgage loans held-for-sale(1,493)— (9)Gain on repurchase of term notes payable and convertible senior notes(226)(5,104)— Equity based compensation10,946 10,976 11,630 Originations and purchases of mortgage loans held-for-sale(64,416)(80)(264)Proceeds from sales of mortgage loans held-for-sale62,869 — — Proceeds from repayment of mortgage loans held-for-sale145 31 30 Net change in assets and liabilities:Decrease (increase) in accrued interest receivable2,008 679 (9,752)Decrease in deferred income taxes, net33,798 14,504