Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
ASSETS    
Available-for-sale securities, at fair value $ 21,220,819 $ 13,116,171
Mortgage servicing rights, at fair value 1,086,717 693,815
Residential mortgage loans held-for-investment in securitization trusts, at fair value 0 3,271,317
Residential mortgage loans held-for-sale, at fair value 30,414 40,146
Cash and cash equivalents 419,159 350,864
Restricted cash 635,836 408,052
Accrued interest receivable 68,309 59,006
Due from counterparties 842,303 60,131
Derivative assets, at fair value 309,918 324,182
Other assets 175,838 292,765
Assets of discontinued operations 0 1,495,607
Total Assets [1] 24,789,313 20,112,056
Liabilities    
Repurchase agreements 19,451,207 8,865,184
Collateralized borrowings in securitization trusts, at fair value 0 3,037,196
Federal Home Loan Bank advances 1,215,024 4,000,000
Revolving credit facilities 20,000 70,000
Convertible senior notes 282,827 0
Derivative liabilities, at fair value 31,903 12,501
Due to counterparties 88,898 111,884
Dividends payable 12,552 83,437
Other liabilities 115,478 78,219
Liabilities of discontinued operations 0 452,524
Total Liabilities [1] 21,217,889 16,710,945
Stockholders' Equity    
Common stock, par value $0.01 per share; 450,000,000 shares authorized and 174,496,587 and 173,826,163 shares issued and outstanding, respectively 1,745 1,738
Additional paid-in capital 3,672,003 3,661,712
Accumulated other comprehensive income 334,813 199,227
Cumulative earnings 2,386,604 2,038,033
Cumulative distributions to stockholders (3,526,278) (2,499,599)
Total Stockholders’ Equity 3,571,424 3,401,111
Total Liabilities and Stockholders’ Equity 24,789,313 20,112,056
8.125% Series A cumulative redeemable: 5,750,000 and 0 shares issued and outstanding, respectively ($143,750 liquidation preference)    
Stockholders' Equity    
Preferred stock, par value $0.01 per share; 50,000,000 shares authorized: 138,872 0
7.625% Series B cumulative redeemable: 11,500,000 and 0 shares issued and outstanding, respectively ($287,500 liquidation preference)    
Stockholders' Equity    
Preferred stock, par value $0.01 per share; 50,000,000 shares authorized: 278,094 0
7.25% Series C cumulative redeemable: 11,800,000 and 0 shares issued and outstanding, respectively ($295,000 liquidation preference)    
Stockholders' Equity    
Preferred stock, par value $0.01 per share; 50,000,000 shares authorized: $ 285,571 $ 0
[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, 2017 and December 31, 2016, assets of the VIEs totaled $0 and $3,290,245, and liabilities of the VIEs totaled $0 and $3,058,278, respectively. See Note 3 - Variable Interest Entities for additional information.