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, 2017
Dec. 31, 2016
ASSETS    
Available-for-sale securities, at fair value $ 17,318,697 $ 13,128,857
Commercial real estate assets 1,548,603 1,412,543
Mortgage servicing rights, at fair value 747,580 693,815
Residential mortgage loans held-for-investment in securitization trusts, at fair value 3,181,811 3,271,317
Residential mortgage loans held-for-sale, at fair value 32,686 40,146
Cash and cash equivalents 405,110 406,883
Restricted cash 381,664 408,312
Accrued interest receivable 76,104 62,751
Due from counterparties 54,940 60,380
Derivative assets, at fair value 253,564 324,182
Other assets 270,085 302,870
Total Assets [1] 24,270,844 20,112,056
Liabilities    
Repurchase agreements 13,640,720 9,316,351
Collateralized borrowings in securitization trusts, at fair value 2,941,990 3,037,196
Federal Home Loan Bank advances 3,571,762 4,000,000
Revolving credit facilities 15,000 70,000
Convertible senior notes 282,263 0
Derivative liabilities, at fair value 20,363 12,501
Due to counterparties 31,301 111,884
Dividends payable 87,228 83,437
Other liabilities 77,656 79,576
Total liabilities [1] 20,668,283 16,710,945
Stockholders' Equity    
Preferred stock, par value $0.01 per share; 50,000,000 shares authorized and 5,750,000 and 0 shares issued and outstanding, respectively (liquidation preference of $143,750) 138,872 0
Common stock, par value $0.01 per share; 900,000,000 shares authorized and 348,913,014 and 347,652,326 shares issued and outstanding, respectively 3,489 3,477
Additional paid-in capital 3,664,020 3,659,973
Accumulated other comprehensive income 272,989 199,227
Cumulative earnings 2,110,018 2,038,033
Cumulative distributions to stockholders (2,586,827) (2,499,599)
Total stockholders’ equity 3,602,561 3,401,111
Total Liabilities and Stockholders’ Equity 24,270,844 20,112,056
Variable Interest Entity, Consolidated, Carrying Amount, Assets 3,246,363 3,336,292
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities $ 2,962,598 $ 3,058,278
[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, 2017 and December 31, 2016, assets of the VIEs totaled $3,246,363 and $3,336,292, and liabilities of the VIEs totaled $2,962,598 and $3,058,278, respectively. See Note 3 - Variable Interest Entities for additional information.