Company: TWO-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001465740-25-000104
Chunk: 66

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 66
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 was primarily due to net income from MSR servicing activity 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 22. 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 months ended March 31, 2025 and 2024:Three Months EndedMarch 31,(in thousands, except share data)20252024Basic (Loss) Earnings Per Share:Net (loss) income$(79,055)$203,588 Dividends on preferred stock(13,186)(11,784)Gain on repurchase and retirement of preferred stock— 644 Dividends and undistributed earnings allocated to participating restricted stock units(404)(1,441)Net (loss) income attributable to common stockholders, basic$(92,645)$191,007 Basic weighted average common shares103,976,437 103,401,940 Basic (loss) earnings per weighted average common share$(0.89)$1.85 Diluted (Loss) Earnings Per Share:Net (loss) income attributable to common stockholders, basic$(92,645)$191,007 Reallocation impact of undistributed earnings to participating restricted stock units— 61 Interest expense attributable to convertible notes— 4,619 Net (loss) income attributable to common stockholders, diluted$(92,645)$195,687 Basic weighted average common shares103,976,437 103,401,940 Effect of dilutive shares issued in an assumed vesting of performance share units— 361,286 Effect of dilutive shares issued in an assumed conversion— 9,210,091 Diluted weighted average common shares103,976,437 112,973,317 Diluted (loss) earnings per weighted average common share$(0.89)$1.73 For the three months ended March 31, 2025, excluded from the calculation