Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
ASSETS    
Available-for-sale securities, at fair value $ 20,199,094 $ 13,128,857
Commercial real estate assets 2,171,344 1,412,543
Mortgage servicing rights, at fair value 930,613 693,815
Residential mortgage loans held-for-investment in securitization trusts, at fair value 3,031,191 3,271,317
Residential mortgage loans held-for-sale, at fair value 31,197 40,146
Cash and cash equivalents 539,367 406,883
Restricted cash 343,813 408,312
Accrued interest receivable 85,445 62,751
Due from counterparties 26,445 60,380
Derivative assets, at fair value 238,305 324,182
Other assets 206,960 302,870
Total Assets [1] 27,803,774 20,112,056
Liabilities    
Repurchase agreements 18,297,392 9,316,351
Collateralized borrowings in securitization trusts, at fair value 2,785,413 3,037,196
Federal Home Loan Bank advances 1,998,762 4,000,000
Revolving credit facilities 40,000 70,000
Convertible senior notes 282,543 0
Derivative liabilities, at fair value 11,312 12,501
Due to counterparties 45,297 111,884
Dividends payable 102,799 83,437
Other liabilities 108,875 79,576
Total Liabilities [1] 23,672,393 16,710,945
Stockholders' Equity    
Common stock, par value $0.01 per share; 450,000,000 shares authorized and 174,489,356 and 173,826,163 shares issued and outstanding, respectively 3,490 3,477
Additional paid-in capital 3,658,835 3,659,973
Accumulated other comprehensive income 423,042 199,227
Cumulative earnings 2,220,700 2,038,033
Cumulative distributions to stockholders (2,781,469) (2,499,599)
Total Stockholders’ Equity 3,941,564 3,401,111
Noncontrolling interest 189,817 0
Total Equity 4,131,381 3,401,111
Total Liabilities and Equity 27,803,774 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
[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 September 30, 2017 and December 31, 2016, assets of the VIEs totaled $3,094,462 and $3,336,292, and liabilities of the VIEs totaled $2,804,685 and $3,058,278, respectively. See Note 3 - Variable Interest Entities for additional information.