Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
ASSETS    
Available-for-sale securities, at fair value $ 16,427,710 $ 13,128,857
Commercial real estate assets 1,782,749 1,412,543
Mortgage servicing rights, at fair value 898,025 693,815
Residential mortgage loans held-for-investment in securitization trusts, at fair value 3,120,410 3,271,317
Residential mortgage loans held-for-sale, at fair value 31,946 40,146
Cash and cash equivalents 651,707 406,883
Restricted cash 249,728 408,312
Accrued interest receivable 74,156 62,751
Due from counterparties 39,618 60,380
Derivative assets, at fair value 240,502 324,182
Other assets 264,482 302,870
Total Assets [1] 23,781,033 20,112,056
Liabilities    
Repurchase agreements 13,316,881 9,316,351
Collateralized borrowings in securitization trusts, at fair value 2,880,301 3,037,196
Federal Home Loan Bank advances 3,238,762 4,000,000
Revolving credit facilities 40,000 70,000
Convertible senior notes 282,290 0
Derivative liabilities, at fair value 2,580 12,501
Due to counterparties 36,858 111,884
Dividends payable 95,049 83,437
Other liabilities 104,203 79,576
Total Liabilities [1] 19,996,924 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 348,977,215 and 347,652,326 shares issued and outstanding, respectively 3,490 3,477
Additional paid-in capital 3,654,653 3,659,973
Accumulated other comprehensive income 354,617 199,227
Cumulative earnings 2,118,636 2,038,033
Cumulative distributions to stockholders (2,681,847) (2,499,599)
Total Stockholders’ Equity 3,588,421 3,401,111
Noncontrolling interest 195,688 0
Total Equity 3,784,109 3,401,111
Total Liabilities and Equity $ 23,781,033 $ 20,112,056
[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 June 30, 2017 and December 31, 2016, assets of the VIEs totaled $3,184,374 and $3,336,292, and liabilities of the VIEs totaled $2,900,344 and $3,058,278, respectively. See Note 3 - Variable Interest Entities for additional information.