Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Cumulative Earnings
Cumulative Distributions to Stockholders
Total Stockholders' Equity
Noncontrolling Interest
Preferred Stock
Preferred Stock
Preferred Stock
Preferred Stock
Total Stockholders' Equity
Stockholders’ equity at beginning of period at Dec. 31, 2015   $ 0 $ 1,770 $ 3,707,288 $ 359,061 $ 1,684,755 $ (2,176,313) $ 3,576,561        
Noncontrolling interest at beginning of period at Dec. 31, 2015                 $ 0      
Total equity at beginning of period at Dec. 31, 2015 $ 3,576,561                      
Net income attributable to Two Harbors Investment Corp. 353,278         353,278   353,278        
Income from discontinued operations attributable to noncontrolling interest 0                      
Net (loss) income 353,278                      
Other comprehensive income (loss) before reclassifications, net of tax (58,804)       (58,804)     (58,804)        
Amounts reclassified from accumulated other comprehensive income (loss), net of tax 101,030       101,030     101,030        
Other comprehensive income (loss), net of tax (159,834)       (159,834)     (159,834)        
Issuance of stock, net of offering costs 502   1 501       502        
Repurchase of common stock (61,307)   (40) (61,267)       (61,307)        
Common dividends declared (323,286)           (323,286) (323,286)        
Non-cash equity award compensation 15,197   8 15,189       15,197        
Stockholders’ equity at end of period at Dec. 31, 2016   0 1,739 3,661,711 199,227 2,038,033 (2,499,599) 3,401,111        
Noncontrolling interest at end of period at Dec. 31, 2016                 0      
Total equity at end of period at Dec. 31, 2016 3,401,111                      
Net income attributable to Two Harbors Investment Corp. 348,571         348,571   348,571        
Income from discontinued operations attributable to noncontrolling interest 3,814               3,814      
Net (loss) income 352,385                      
Other comprehensive income (loss) before reclassifications, net of tax 129,590       129,590     129,590        
Amounts reclassified from accumulated other comprehensive income (loss), net of tax 5,996       5,996     5,996        
Other comprehensive income (loss), net of tax 135,586       135,586     135,586        
Contribution of TH Commercial Holdings LLC to Granite Point Mortgage Trust Inc. (181,875)     13,771 0     (13,771) (195,646)      
Acquisition of noncontrolling interests 11,361     (181)       181 11,542      
Issuance of stock, net of offering costs 449   0 449       449   $ 702,537 $ 702,537 $ 702,537
Repurchase of common stock 0                      
Preferred dividends declared (25,122)           (25,122) (25,122)        
Common dividends declared (353,886)           (350,709) (350,709) (3,177)      
Special dividend of Granite Point Mortgage Trust Inc. common stock (824,322)   0 11,267     (650,848) (639,581) (184,741)      
Non-cash equity award compensation 12,171   6 12,165       12,171        
Stockholders’ equity at end of period at Dec. 31, 2017 3,571,424 702,537 1,745 3,672,003 334,813 2,386,604 (3,526,278) 3,571,424        
Noncontrolling interest at end of period at Dec. 31, 2017                 0      
Total equity at end of period at Dec. 31, 2017 3,571,424                      
Cumulative effect of adoption of new accounting principles 0     25 9,918 (9,943)            
Stockholders' equity at beginning of period, adjusted balance at Dec. 31, 2017 3,571,424 702,537 1,745 3,672,028 344,731 2,376,661 (3,526,278) 3,571,424 0      
Net income attributable to Two Harbors Investment Corp. (44,290)         (44,290)   (44,290)        
Income from discontinued operations attributable to noncontrolling interest 0                      
Net (loss) income (44,290)                      
Other comprehensive income (loss) before reclassifications, net of tax (488,253)       (488,253)     (488,253)        
Amounts reclassified from accumulated other comprehensive income (loss), net of tax 254,339       254,339     254,339        
Other comprehensive income (loss), net of tax (233,914)       (233,914)     (233,914)        
Acquisition of CYS Investments, Inc. 1,400,064   726 1,124,388       1,400,064     274,950  
Issuance of stock, net of offering costs 215   0 215       215   $ 14 $ 14 $ 14
Repurchase of common stock 0                      
Preferred dividends declared (65,395)           (65,395) (65,395)        
Common dividends declared (386,624)           (386,624) (386,624)        
Non-cash equity award compensation 12,995   10 12,985       12,995        
Stockholders’ equity at end of period at Dec. 31, 2018 4,254,489 $ 977,501 $ 2,481 $ 4,809,616 $ 110,817 $ 2,332,371 $ (3,978,297) $ 4,254,489        
Noncontrolling interest at end of period at Dec. 31, 2018                 $ 0      
Total equity at end of period at Dec. 31, 2018 $ 4,254,489