TWO HARBORS INVESTMENT CORP. TWO Income Statement

Two harbors investment corp. (TWO)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Available-for-sale securities
962,283	847,325	631,853	414,050	458,515	506,268	507,180	448,620	197,126	39,844	2,796
Trading securities
-	-	-	-	8,676	12,913	5,963	4,873	4,159	170	0
Commercial real estate assets
-	-	-	-	-	0	0	-	-	-	-
Residential mortgage loans held-for-investment in securitization trusts
0	0	102,886	133,993	95,740	41,220	19,220	0	0	-	-
Residential mortgage loans held-for-sale
-	-	-	-	28,966	16,089	22,185	609	2	0	0
Other
32,407	22,707	10,350	27,037	982	717	1,043	944	347	107	70
Total interest income
994,690	870,032	745,089	575,080	592,879	577,207	555,591	455,046	201,634	-	-
Total interest income
-	-	-	-	-	-	-	-	-	40,121	2,866
Interest expense:
Repurchase agreements
654,280	469,437	210,430	88,850	72,653	76,177	89,470	72,106	22,709	-	-
Collateralized borrowings in securitization trusts
0	0	82,573	97,729	57,216	26,760	10,937	-	-	-	-
Federal Home Loan Bank advances
10,920	20,417	36,911	26,101	11,921	4,513	0	0	-	-	-
Revolving credit facilities
19,354	10,820	2,341	604	0	0	-	-	-	-	-
Term notes payable
10,708	0	0	-	-	-	-	-	-	-	-
Convertible senior notes
19,067	18,997	17,933	0	0	-	-	0	0	-	-
Total interest expense
714,329	519,671	350,188	213,284	141,790	107,450	100,407	72,106	22,709	4,421	131
Net interest income
280,361	350,361	394,901	361,796	451,089	469,757	455,184	382,940	178,925	35,700	2,735
Other-than-temporary impairments:
Total other-than-temporary impairment losses
14,312	470	789	1,800	535	392	1,662	10,952	5,102	0	0
Non-credit portion of loss recognized in other comprehensive income (loss)
-	-	-	-	-	-	0	0	0	0	-
Net other-than-temporary credit impairment losses
-	-	-	-	-	-	1,662	10,952	5,102	0	0
Other income (loss):
Loss on investment securities
280,118	-341,312	-34,695	-107,374	363,379	87,201	-54,430	122,466	36,520	6,127	336
Servicing income
501,612	343,096	209,065	143,579	127,398	128,160	12,011	0	0	-	-
Loss on servicing asset
-697,659	-69,033	-91,033	-83,531	-99,584	-128,388	13,881	0	0	-	-
Loss on interest rate swap, cap and swaption agreements
-108,289	16,043	-9,753	45,371	-210,621	-345,647	245,229	-159,775	-86,769	-6,344	364
(Loss) gain on other derivative instruments
259,998	-54,857	-70,159	99,379	-5,049	-17,529	95,345	-40,906	26,755	7,156	0
Gain on residential mortgage loans held-for-sale
-	-	-	-	14,285	17,297	-33,846	2,270	0	0	-
Other income
337	3,037	30,141	9,964	-21,971	18,539	14,619	0	0	-	-
Total other loss
236,117	-103,026	33,566	107,388	167,837	-240,367	292,809	-75,945	-23,494	6,939	700
Expenses:
Management fees
60,102	30,272	40,472	39,261	49,116	48,803	41,707	33,168	14,241	2,989	326
Servicing expenses
74,607	61,136	35,289	32,119	28,028	25,925	3,761	0	0	-	-
Securitization deal costs
-	-	-	6,152	8,971	4,638	4,153	0	0	-	-
Costs associated with Capitol as a development stage company
-	-	-	-	-	-	-	-	-	-	1,347
Other operating expenses
57,055	62,983	54,160	56,605	56,764	56,231	37,259	17,678	9,673	4,578	1,252
Acquisition transaction costs
0	86,703	0	0	-	-	-	-	-	-	9,572
Restructuring charges
0	8,238	0	2,990	0	0	-	-	-	-	-
Total expenses
191,764	249,332	129,921	137,127	142,879	135,597	86,880	50,846	23,914	7,567	12,497
Loss before income taxes
310,402	-2,467	297,757	330,235	475,512	93,401	659,451	245,197	126,415	35,072	-9,062
Benefit from income taxes
-13,560	41,823	-10,482	12,314	-16,560	-73,738	84,411	-42,219	-1,106	-683	-318
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
323,962	-44,290	308,239	317,921	492,072	-	575,040	287,416	127,521	35,755	-
Income from discontinued operations, net of tax
0	0	44,146	35,357	138	-	3,999	4,490	-89	0	-
Net loss
323,962	-44,290	352,385	353,278	492,210	-	-	-	-	-	-
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest
0	0	3,814	0	0	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
323,962	-44,290	348,571	353,278	492,210	-	-	-	-	-	-8,744
Dividends on preferred stock
75,801	65,395	25,122	0	0	-	-	-	-	-	-
Net loss attributable to common stockholders
248,161	-109,685	323,449	353,278	492,210	167,139	579,039	291,906	127,432	35,755	-
Accretion of trust account income relating to common stock subject to possible conversion
-	-	-	-	-	-	-	-	-	-	-92
Net income attributable to common stockholders
-	-	-	-	-	-	-	-	-	-	-8,837
Basic and diluted earnings (loss) per weighted average common share (in usd per share)
-	-	-	-	-	0.46	-	-	-	-	-0.39
Basic earnings (loss) per weighted average common share:
Continuing operations
0.93	-0.53	1.62	1.83	2.70	-	1.64	1.19	1.29	1.60	-
Discontinued operations
0.00	0.00	0.23	0.20	0.00	-	0.01	0.02	0.00	0.00	-
Basic loss per weighted average common share (in usd per share)
0.93	-0.53	1.85	2.03	2.70	-	1.65	1.21	1.29	1.60	-
Diluted earnings (loss) per weighted average common share:
Continuing operations
0.93	-0.53	1.60	1.83	2.70	-	1.64	1.18	1.29	1.60	-
Discontinued operations
0.00	0.00	0.21	0.20	0.00	-	0.01	0.02	0.00	0.00	-
Diluted loss per weighted average common share (in usd per share)
0.93	-0.53	1.81	2.03	2.70	-	1.65	1.20	1.29	1.60	-
Dividends declared per common share (in usd per share)
-	-	-	-	-	-	-	-	1.60	1.48	0.26
Basic and diluted weighted average number of shares of common stock outstanding (in shares)
-	-	-	-	-	366,011	-	-	-	-	-
Weighted average basic common shares outstanding (in shares)
267,826	206,020	174,433	174,036	182,623	-	350,361	242,014	98,826	22,381	-
Weighted average diluted common shares outstanding (in shares)
267,826	206,020	188,133	174,036	182,623	-	350,992	242,432	98,826	22,381	-
Comprehensive (loss) income:
Net income (loss)
248,161	-109,685	323,449	353,278	492,210	167,139	579,039	291,906	127,432	35,755	-
Other comprehensive (loss) income, net of tax:
Basic and diluted weighted average number of shares of common stock
-	-	-	-	-	-	-	-	-	-	22,941
Net income attributable to common stockholders
-	-	-	-	-	-	-	-	-	-	-8,837
Unrealized (loss) gain on available-for-sale securities
578,583	-233,914	135,586	-159,834	-496,728	411,054	-251,723	755,174	-81,335	23,569	-950
Other comprehensive (loss) income
578,583	-233,914	135,586	-159,834	-496,728	411,054	-251,723	755,174	-81,335	23,569	-950
Comprehensive (loss) income
902,545	-278,204	487,971	193,444	-4,518	578,193	327,316	1,047,080	46,097	59,324	-
Comprehensive income attributable to noncontrolling interest
0	0	3,814	0	0	-	-	-	-	-	-
Comprehensive income (loss) attributable to Two Harbors Investment Corp.
902,545	-278,204	484,157	193,444	-4,518	-	-	-	-	-	-9,694
Dividends on preferred stock
75,801	65,395	25,122	0	0	-	-	-	-	-	-
Comprehensive (loss) income attributable to common stockholders
826,744	-343,599	459,035	193,444	-4,518	-	-	-	-	-	-