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
Jun. 30, 2013
Dec. 31, 2012
ASSETS    
Available-for-sale securities, at fair value $ 14,892,315 $ 13,666,954
Trading securities, at fair value 1,001,172 1,002,062
Equity securities, at fair value 0 335,638
Mortgage loans held-for-sale, at fair value 958,201 58,607
Mortgage loans held-for-investment in securitization trust, at fair value 401,347 0
Cash and cash equivalents 917,224 821,108
Restricted cash 685,965 302,322
Accrued interest receivable 54,080 42,613
Due from counterparties 17,210 39,974
Derivative assets, at fair value 699,351 462,080
Other assets 13,886 82,586
Total Assets 19,640,751 [1] 16,813,944 [1]
Liabilities    
Repurchase agreements 14,903,155 12,624,510
Collateralized borrowings in securitization trust, at fair value 363,012 0
Derivative liabilities, at fair value 46,028 129,294
Accrued interest payable 17,510 19,060
Due to counterparties 340,043 412,861
Dividends payable 113,378 164,347
Other liabilities 23,502 13,295
Total liabilities 15,806,628 [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 3,657 2,988
Additional paid-in capital 3,803,013 2,948,345
Accumulated other comprehensive income 265,997 696,458
Cumulative earnings 981,711 449,358
Cumulative distributions to stockholders (1,220,255) (646,572)
Total stockholders’ equity 3,834,123 3,450,577
Total Liabilities and Stockholders’ Equity 19,640,751 16,813,944
Variable Interest Entity, Consolidated, Carrying Amount, Assets 402,775 0
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities $ 363,819 $ 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 June 30, 2013, assets of consolidated the VIE totaled $402,775 and liabilities of the consolidated VIE totaled $363,819. The Company did not consolidate any VIEs as of December 31, 2012. See Note 3 - Variable Interest Entities for additional information.