Company: TWO-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001465740-25-000083
Chunk: 101

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 101
---
593 $9,973,593 4.5:1.0 $4,950,762 $— 6.8:1.0 March 31, 2024$10,153,275 $10,283,782 $10,352,896 4.6:1.0 $3,421,932 $(213,264)6.0:1.0 December 31, 2023$10,449,060 $9,913,231 $10,984,022 4.5:1.0 $3,170,548 $196,644 6.0:1.0 

____________________

(1)Defined as total borrowings under repurchase agreements (excluding those collateralized by U.S. Treasuries), revolving credit facilities, warehouse facilities, term notes payable and convertible senior notes, plus implied debt on net TBA cost basis and net payable (receivable) for unsettled RMBS, divided by total equity.

Equity

The following table provides details of our changes in stockholders’ equity from December 31, 2023 to December 31, 2024.

(in millions, except per share amounts)Book ValueCommon Shares OutstandingCommon Book Value Per ShareCommon stockholders’ equity at December 31, 2023$1,569.5 103.2 $15.21 Net income298.1 Other comprehensive loss(143.9)Comprehensive income154.2 Dividends on preferred stock(47.2)Gain on repurchase and retirement of preferred stock0.6 Comprehensive income attributable to common stockholders107.6 Dividends on common stock(187.9)Other10.9 0.5 Balance before capital transactions1,500.1 103.7 Repurchase and retirement of preferred stock0.4 Issuance of common stock, net of offering costs0.2 — Common stockholders’ equity at December 31, 2024$1,500.7 103.7 $14.47 Total preferred stock liquidation preference621.8 Total stockholders’ equity at December 31, 2024$2,122.5 

47

U.S. GAAP to Estimated Taxable Income

The following tables provide reconciliations of our GAAP net income (loss) to our estimated taxable income (loss) split between our RE