Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
ASSETS    
Available-for-sale securities, at fair value $ 9,584,454 $ 7,825,320
Residential mortgage loans held-for-sale, at fair value 387,259 811,431
Residential mortgage loans held-for-investment in securitization trusts, at fair value 3,705,647 3,173,727
Commercial real estate assets 744,259 660,953
Mortgage servicing rights, at fair value 446,170 493,688
Cash and cash equivalents 754,827 737,831
Restricted cash 281,145 262,562
Accrued interest receivable 54,517 49,970
Due from counterparties 233,378 17,206
Derivative assets, at fair value 197,847 271,509
Other assets 295,102 271,575
Total Assets [1] 16,684,605 14,575,772
Liabilities    
Repurchase agreements 6,189,852 5,008,274
Collateralized borrowings in securitization trusts, at fair value 2,809,627 2,000,110
Federal Home Loan Bank advances 4,000,000 3,785,000
Derivative liabilities, at fair value 77,038 7,285
Due to counterparties 91,547 34,294
Dividends payable 79,939 92,016
Other liabilities 65,911 72,232
Total liabilities [1] 13,313,914 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 347,562,770 and 353,906,807 shares issued and outstanding, respectively 3,476 3,539
Additional paid-in capital 3,647,236 3,705,519
Accumulated other comprehensive income 380,406 359,061
Cumulative earnings 1,595,825 1,684,755
Cumulative distributions to stockholders (2,256,252) (2,176,313)
Total stockholders’ equity 3,370,691 3,576,561
Total Liabilities and Stockholders’ Equity 16,684,605 14,575,772
Variable Interest Entity, Consolidated, Carrying Amount, Assets 3,772,081 3,237,918
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities $ 2,829,662 $ 2,017,677
[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. At March 31, 2016 and December 31, 2015, assets of the VIEs totaled $3,772,081 and $3,237,918, and liabilities of the VIEs totaled $2,829,662 and $2,017,677, respectively. See Note 3 - Variable Interest Entities for additional information.