Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 109

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 109
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 of financial stress, which is often the time that liquidity is most needed. As a result, our ability to sell assets or vary our portfolio in response to changes in economic and other conditions may be limited by liquidity constraints, which could adversely affect our results of operations and financial condition. 

We cannot predict the timing and impact of future sales of our assets, if any. Because many of our assets are financed with repurchase agreements, revolving credit facilities and warehouse facilities, a significant portion of the proceeds from sales of our assets (if any), prepayments and scheduled amortization are used to repay balances under these financing sources.

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The following table provides the maturities of our repurchase agreements, revolving credit facilities, warehouse facilities, term notes payable and convertible senior notes as of December 31, 2024 and December 31, 2023:

(in thousands)December 31,2024December 31,2023Within 30 days$2,377,824 $2,833,162 30 to 59 days2,316,237 1,918,818 60 to 89 days1,307,145 2,059,438 90 to 119 days759,177 994,789 120 to 364 days366,706 833,571 One to three years1,960,400 1,273,453 Total$9,087,489 $9,913,231 

For the year ended December 31, 2024, our restricted and unrestricted cash balance increased approximately $22.8 million to $817.6 million at December 31, 2024. The cash movements can be summarized by the following:

•Cash flows from operating activities. For the year ended December 31, 2024, operating activities increased our cash balances by approximately $201.0 million, primarily driven by our financial results for the year. 

•Cash flows from investing activities. For the year ended December 31, 2024, investing activities increased our cash balances by approximately $895.3 million, primarily driven by principal payments received on AFS securities as well as net sales of both AFS securities and derivative instruments, partially offset by net payments for reverse repurchase agreements, the final payment for the acquisition of RoundPoint made in January 2024 and net purchases of MSR.

•Cash flows from financing activities. For the year ended December 31, 2024, financing activities decreased our cash balance by approximately $1.1 billion