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, 2013
Dec. 31, 2012
ASSETS    
Available-for-sale securities, at fair value $ 12,672,233 $ 13,666,954
Trading securities, at fair value 1,000,625 1,002,062
Equity securities, at fair value 0 335,638
Mortgage loans held-for-sale, at fair value 559,737 58,607
Mortgage loans held-for-investment in securitization trust, at fair value 804,988 0
Cash and cash equivalents 723,160 821,108
Restricted cash 678,328 302,322
Accrued interest receivable 48,854 42,613
Due from counterparties 94,485 39,974
Derivative assets, at fair value 544,515 462,080
Other assets 27,241 82,586
Total Assets 17,154,166 [1] 16,813,944 [1]
Liabilities    
Repurchase agreements 12,152,065 12,624,510
Collateralized borrowings in securitization trust, at fair value 649,082 0
Derivative liabilities, at fair value 73,827 129,294
Accrued interest payable 15,782 19,060
Due to counterparties 332,210 412,861
Dividends payable 102,022 164,347
Other liabilities 56,125 13,295
Total liabilities 13,381,113 [1] 13,363,367 [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 364,365,017 and 298,813,258 shares issued and outstanding, respectively 3,644 2,988
Additional paid-in capital 3,789,929 2,948,345
Accumulated other comprehensive income 512,774 696,458
Cumulative earnings 788,983 449,358
Cumulative distributions to stockholders (1,322,277) (646,572)
Total stockholders’ equity 3,773,053 3,450,577
Total Liabilities and Stockholders’ Equity 17,154,166 16,813,944
Variable Interest Entity, Consolidated, Carrying Amount, Assets 808,647 0
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities $ 652,227 $ 0
[1] The condensed consolidated balance sheets include assets of a consolidated variable interest entity (“VIE”) that can only be used to settle obligations of this VIE and liabilities of the consolidated VIE for which creditors do not have recourse to the Company (Two Harbors Investment Corp.). At September 30, 2013, assets of consolidated the VIE totaled $808,647 and liabilities of the consolidated VIE totaled $652,227. The Company did not consolidate any VIEs as of December 31, 2012. See Note 3 - Variable Interest Entities for additional information.