Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.6.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
ASSETS    
Available-for-sale securities, at fair value $ 13,128,857 $ 7,825,320
Residential mortgage loans held-for-sale, at fair value 40,146 811,431
Residential mortgage loans held-for-investment in securitization trusts, at fair value 3,271,317 3,173,727
Commercial real estate assets 1,412,543 660,953
Mortgage servicing rights, at fair value 693,815 493,688
Cash and cash equivalents 406,883 737,831
Restricted cash 408,312 262,562
Accrued interest receivable 62,751 49,970
Due from counterparties 60,380 17,206
Derivative assets, at fair value 324,182 271,509
Other assets 302,870 271,575
Total Assets [1] 20,112,056 14,575,772
Liabilities    
Repurchase agreements 9,316,351 5,008,274
Collateralized borrowings in securitization trusts, at fair value 3,037,196 2,000,110
Federal Home Loan Bank advances 4,000,000 3,785,000
Revolving credit facilities 70,000 0
Derivative liabilities, at fair value 12,501 7,285
Due to counterparties 111,884 34,294
Dividends payable 83,437 92,016
Other liabilities 79,576 72,232
Total liabilities [1] 16,710,945 10,999,211
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 347,652,326 and 353,906,807 shares issued and outstanding, respectively 3,477 3,539
Additional paid-in capital 3,659,973 3,705,519
Accumulated other comprehensive income 199,227 359,061
Cumulative earnings 2,038,033 1,684,755
Cumulative distributions to stockholders (2,499,599) (2,176,313)
Total stockholders’ equity 3,401,111 3,576,561
Total Liabilities and Stockholders’ Equity 20,112,056 14,575,772
Variable Interest Entity, Consolidated, Carrying Amount, Assets 3,336,292 3,237,918
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities $ 3,058,278 $ 2,017,677
[1] The 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. At December 31, 2016 and December 31, 2015, assets of the VIEs totaled $3,336,292 and $3,237,918, and liabilities of the VIEs totaled $3,058,278 and $2,017,677, respectively. See Note 3 - Variable Interest Entities for additional information.