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
Mar. 31, 2013
Dec. 31, 2012
ASSETS    
Available-for-sale securities, at fair value $ 14,963,531 $ 13,666,954
Trading securities, at fair value 1,002,414 1,002,062
Equity securities, at fair value 368,970 335,638
Mortgage loans held-for-sale, at fair value 192,417 58,607
Mortgage loans held-for-investment in securitization trust, at fair value 434,068 0
Cash and cash equivalents 1,140,706 821,108
Restricted cash 277,428 302,322
Accrued interest receivable 47,089 42,613
Due from counterparties 15,499 39,974
Derivative assets, at fair value 511,749 462,080
Other assets 49,020 82,586
Total Assets 19,002,891 [1] 16,813,944 [1]
Liabilities    
Repurchase agreements 13,444,565 12,624,510
Collateralized borrowings in securitization trust, at fair value 397,229 0
Derivative liabilities, at fair value 45,423 129,294
Accrued interest payable 19,348 19,060
Due to counterparties 535,971 412,861
Accrued expenses 9,485 13,295
Dividends payable 485,791 164,347
Total liabilities 14,937,812 [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 362,142,394 and 298,813,258 shares issued and outstanding, respectively 3,621 2,988
Additional paid-in capital 3,774,548 2,948,345
Accumulated other comprehensive income 800,710 696,458
Cumulative earnings 593,074 449,358
Cumulative distributions to stockholders (1,106,874) (646,572)
Total stockholders’ equity 4,065,079 3,450,577
Total Liabilities and Stockholders’ Equity 19,002,891 16,813,944
Variable Interest Entity, Consolidated, Carrying Amount, Assets 435,469 0
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities $ 398,068 $ 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 March 31, 2013, assets of consolidated the VIE totaled $435,469 and liabilities of the consolidated VIE totaled $398,068. The Company did not consolidate any VIEs as of December 31, 2012. See Note 3 - Variable Interest Entities for additional information.