Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Dec. 31, 2013
ASSETS    
Available-for-sale securities, at fair value $ 12,697,908 $ 12,256,727
Trading securities, at fair value 1,993,124 1,000,180
Mortgage loans held-for-sale, at fair value 445,065 544,581
Mortgage loans held-for-investment in securitization trusts, at fair value 1,428,890 792,390
Mortgage servicing rights, at fair value 498,466 514,402
Cash and cash equivalents 1,225,281 1,025,487
Restricted cash 310,421 401,647
Accrued interest receivable 52,605 50,303
Due from counterparties 23,341 25,087
Derivative assets, at fair value 353,893 549,859
Other assets 125,831 13,199
Total Assets 19,154,825 [1] 17,173,862 [1]
Liabilities    
Repurchase agreements 12,274,878 12,250,450
Collateralized borrowings in securitization trusts, at fair value 938,506 639,731
Federal Home Loan Bank advances 1,500,000 0
Derivative liabilities, at fair value 4,221 22,081
Accrued interest payable 14,924 20,277
Due to counterparties 167,444 318,848
Dividends payable 95,205 0
Other liabilities 41,548 67,480
Total liabilities 15,036,726 [1] 13,318,867 [1]
Stockholders' Equity    
Preferred stock, par value $0.01 per share; 50,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, par value $0.01 per share; 900,000,000 shares authorized and 366,107,149 and 364,935,168 shares issued and outstanding, respectively 3,661 3,649
Additional paid-in capital 3,808,015 3,795,372
Accumulated other comprehensive income 776,648 444,735
Cumulative earnings 1,232,499 1,028,397
Cumulative distributions to stockholders (1,702,724) (1,417,158)
Total stockholders’ equity 4,118,099 3,854,995
Total Liabilities and Stockholders’ Equity 19,154,825 17,173,862
Variable Interest Entity, Consolidated, Carrying Amount, Assets 1,436,027 796,896
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities $ 945,002 $ 644,051
[1] The condensed consolidated balance sheets include assets of consolidated variable interest entities, or VIEs, that can only be used to settle obligations of these VIEs, and liabilities of the consolidated VIEs for which creditors do not have recourse to Two Harbors Investment Corp., or the Company. At September 30, 2014 and December 31, 2013, assets of the VIEs totaled $1,436,027 and $796,896, and liabilities of the VIEs totaled $945,002 and $644,051, respectively. See Note 3 - Variable Interest Entities for additional information.