TWO HARBORS INVESTMENT CORP. TWO Income Statement

Two harbors investment corp. (TWO)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Interest income:
Available-for-sale securities
975,081	962,283	974,251	962,835	892,495	847,325	787,502	720,799	687,242	631,853	570,858	518,347	469,949	414,050	380,876	385,801	402,418	458,515	501,666	508,404	517,880	506,268	495,508	493,755	500,801	507,180	521,712	525,030	494,698	448,620	384,867	326,165	261,805	197,126	138,193	84,097	53,226	39,844	0	0	0
Trading securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,676	13,415	17,723	15,682	12,913	10,103	7,304	6,625	5,963	5,329	5,098	5,087	4,873	4,954	5,382	4,937	4,159	2,938	1,247	442	170	0	0	0
Commercial real estate assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	46,576	32,616	20,166	-	2,841	894	44	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Residential mortgage loans held-for-investment in securitization trusts
-	-	-	-	-	-	-	-	-	102,886	125,547	129,177	132,850	133,993	131,597	122,943	110,274	95,740	80,948	65,633	51,564	41,220	32,728	28,851	25,459	19,220	11,672	6,023	1,654	0	0	0	0	-	-	-	-	-	-	-	-
Residential mortgage loans held-for-sale
-	-	-	-	-	-	-	-	-	-	4,628	11,776	16,233	-	27,487	29,339	31,897	28,966	24,804	20,593	15,774	16,089	19,329	23,358	25,453	22,185	15,656	6,526	1,858	609	364	197	71	2	0	0	0	0	0	0	0
Other
29,633	32,407	33,956	32,330	29,001	22,707	16,493	12,243	11,852	10,350	32,946	31,545	28,548	27,037	1,550	1,359	1,075	982	878	774	697	717	776	847	953	1,043	1,097	1,124	1,083	944	726	597	452	347	278	191	164	107	0	0	0
Total interest income
1,004,714	994,690	1,008,207	995,165	921,496	870,032	813,182	772,573	769,954	745,089	670,663	643,436	613,471	575,080	578,948	562,920	560,673	592,879	624,552	614,021	601,641	577,207	558,444	554,115	559,291	555,591	555,466	543,801	504,380	455,046	0	0	0	-	-	-	-	-	-	-	-
Total interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	201,634	141,409	85,535	53,832	40,121	0	0	0
Interest expense:
Repurchase agreements
659,325	654,280	648,063	609,956	530,417	469,437	397,409	318,760	264,754	210,430	158,824	126,186	105,077	88,850	80,237	71,416	68,117	72,653	77,691	76,965	76,170	76,177	78,781	83,074	87,024	89,470	91,742	90,683	83,657	72,106	0	0	0	-	-	-	-	-	-	-	-
Collateralized borrowings in securitization trusts
-	-	-	-	-	-	-	-	-	82,573	100,963	103,415	103,756	97,729	88,780	77,920	65,867	57,216	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Federal Home Loan Bank advances
6,438	10,920	16,168	21,078	22,033	20,417	21,012	26,028	32,576	36,911	37,851	34,278	28,922	26,101	22,713	19,251	15,663	11,921	10,086	8,335	6,590	4,513	2,439	908	153	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Revolving credit facilities
17,729	19,354	20,360	20,369	15,172	10,820	6,390	3,118	2,716	2,341	2,203	1,630	1,033	604	128	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Term notes payable
15,512	10,708	5,706	231	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Convertible senior notes
19,108	19,067	19,049	19,031	19,014	18,997	18,980	18,946	18,830	17,933	13,157	8,412	3,821	0	0	0	0	-	-	-	-	-	0	0	0	-	6,112	2,987	818	0	0	0	0	-	-	-	-	-	-	-	-
Total interest expense
718,112	714,329	709,346	670,665	586,636	519,671	452,165	399,196	376,063	350,188	312,998	273,921	242,609	213,284	191,858	168,587	149,647	141,790	137,315	124,954	114,875	107,450	102,668	102,877	102,649	100,407	97,854	93,670	84,475	72,106	56,866	43,341	31,677	22,709	15,224	9,402	6,402	4,421	0	0	0
Net interest income
286,602	280,361	298,861	324,500	334,860	350,361	361,017	373,377	393,891	394,901	357,665	369,515	370,862	361,796	387,090	394,333	411,026	451,089	487,237	489,067	486,766	469,757	455,776	451,238	456,642	455,184	457,612	450,131	419,905	382,940	334,045	289,000	235,588	178,925	126,185	76,133	47,430	35,700	0	0	0
Other-than-temporary impairments:
Total other-than-temporary impairment losses
14,106	14,312	11,105	5,250	576	470	729	634	889	789	407	1,422	1,083	1,800	1,822	1,045	1,125	535	715	477	307	392	212	212	1,638	1,662	3,304	3,863	6,913	10,952	10,747	13,559	9,377	5,102	3,665	294	0	0	0	0	0
Non-credit portion of loss recognized in other comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net other-than-temporary credit impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	212	212	1,638	1,662	3,304	3,863	6,913	10,952	10,747	13,559	9,377	5,102	3,665	294	0	0	0	0	0
Other income (loss):
Loss on investment securities
-782,197	280,118	6,214	-285,610	-339,933	-341,312	-114,759	-66,145	-3,014	-34,695	-188,954	-166,282	-189,200	-107,374	165,962	201,795	263,396	363,379	292,209	287,557	255,313	87,201	156,354	-133,228	-120,053	-54,430	-44,061	188,577	139,503	122,466	14,607	43,512	44,912	36,520	37,679	8,824	6,469	6,127	0	0	0
Servicing income
515,461	501,612	478,545	442,138	388,854	343,096	299,070	266,839	240,482	209,065	183,390	164,711	149,219	143,579	141,442	134,744	129,444	127,398	126,200	126,454	129,806	128,160	107,350	76,075	42,452	12,011	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on servicing asset
-1,095,350	-697,659	-847,204	-592,099	-329,814	-69,033	101,658	51,822	-4,661	-91,033	37,455	33,249	3,344	-83,531	-214,693	-242,791	-148,621	-99,584	-151,663	-100,825	-148,031	-128,388	-59,977	-48,405	-18,879	13,881	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Loss on interest rate swap, cap and swaption agreements
-275,626	-108,289	-340,906	-335,669	-217,761	16,043	312,772	236,708	130,865	-9,753	110,989	116,780	180,782	45,371	-90,082	-267,322	-209,662	-210,621	-405,766	-205,591	-366,562	-345,647	-171,187	-255,116	120,729	245,229	217,292	196,230	-124,610	-159,775	-152,268	-115,107	-104,901	-86,769	-84,487	-49,612	-2,858	-6,344	0	0	0
(Loss) gain on other derivative instruments
22,252	259,998	231,676	114,357	41,368	-54,857	-19,566	-7,027	-34,242	-70,159	77,115	84,011	55,500	99,379	-46,141	-34,568	7,999	-5,049	-8,156	-1,645	-20,363	-17,529	16,945	31,323	117,808	95,345	38,779	21,195	-48,665	-40,906	-24,349	-4,838	12,505	26,755	40,433	21,170	11,557	7,156	0	0	0
Gain on residential mortgage loans held-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,633	30,562	15,996	14,285	29,364	10,937	29,570	17,297	-2,351	-4,407	-51,350	-33,846	-23,583	-18,527	16,625	2,270	591	-22	-32	0	0	0	0	0	0	0	0
Other income
1,012	337	619	1,031	2,102	3,037	11,783	19,307	21,703	30,141	31,994	29,320	16,633	9,964	-6,683	-10,239	-17,287	-21,971	-17,674	-21,390	16,222	18,539	17,730	28,183	8,790	14,619	16,837	7,899	0	-	0	0	-	-	-	-	-	-	-	-	-
Total other loss
-1,614,448	236,117	-471,056	-655,852	-455,184	-103,026	590,958	501,504	351,133	33,566	234,341	243,252	205,475	107,388	-36,562	-187,819	41,265	167,837	-135,486	95,497	-104,045	-240,367	64,864	-305,575	99,497	292,809	207,314	395,574	-10,858	-75,945	-161,419	-76,455	-47,516	-23,494	-6,375	-19,618	15,168	6,939	0	0	0
Gain on mortgage loans held-for-investment and collateralized borrowings in securitization trust
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Expenses:
Management fees
62,570	60,102	54,595	32,754	30,654	30,272	28,830	44,017	42,364	40,472	33,794	35,035	37,025	39,261	46,360	47,590	48,439	49,116	50,268	49,909	49,413	48,803	48,878	48,656	49,057	41,707	39,274	36,167	31,186	33,168	28,460	24,316	19,434	14,241	9,984	6,062	4,082	2,989	0	0	0
Servicing expenses
74,600	74,607	72,964	71,701	66,494	61,136	52,661	44,788	44,545	35,289	32,763	33,276	29,556	32,119	32,689	30,850	29,173	28,028	21,179	26,458	27,416	25,925	27,156	15,505	8,955	3,761	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Securitization deal costs
-	-	-	-	-	-	-	-	-	-	-	-	-	6,152	7,441	8,037	10,092	8,971	9,054	9,733	7,249	4,638	3,355	2,125	2,125	4,153	4,153	2,028	2,028	0	0	0	0	-	-	-	-	-	-	-	-
Other operating expenses
57,296	57,055	58,856	62,545	64,047	62,983	56,827	52,932	54,888	54,160	53,698	55,340	55,513	56,605	56,012	57,382	55,565	56,764	62,982	59,256	57,752	56,231	53,676	50,407	45,263	37,259	31,119	25,918	20,658	17,678	14,579	13,475	11,711	9,673	7,763	6,126	5,103	4,578	0	0	0
Acquisition transaction costs
-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring charges
-	-	0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
194,466	191,764	186,528	262,015	256,128	249,332	233,220	141,698	141,805	129,921	121,967	128,632	127,504	137,127	143,691	143,859	143,269	142,879	143,483	145,356	141,830	135,597	133,065	116,693	105,400	86,880	75,746	64,451	53,903	50,846	43,039	37,791	31,145	23,914	17,747	12,188	9,185	7,567	0	0	0
Loss before income taxes
-1,536,418	310,402	-369,834	-598,623	-377,034	-2,467	718,032	732,555	602,336	297,757	469,610	482,691	447,728	330,235	205,015	61,610	307,897	475,512	207,553	438,731	240,584	93,401	387,363	28,758	449,101	659,451	585,876	777,391	348,231	245,197	118,840	161,195	147,550	126,415	98,398	44,033	53,413	35,072	0	0	0
Benefit from income taxes
-16,659	-13,560	-4,516	36,484	27,984	41,823	45,718	2,976	17,835	-10,482	17,352	5,867	-17,654	12,314	-17,428	-8,257	-452	-16,560	-36,988	-34,190	-50,493	-73,738	-55,418	-26,834	45,545	84,411	67,606	36,046	-29,678	-42,219	-38,186	-20,964	-9,440	-1,106	5,936	-3,698	609	-683	0	0	0
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	-	-	-	-	308,239	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	575,040	518,270	741,345	377,909	287,416	157,026	182,159	156,990	127,521	92,462	47,731	52,804	35,755	0	0	0
Income from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	44,146	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	3,999	10,655	7,110	5,913	4,490	-2,990	-316	-135	-89	0	0	0	0	0	0	0
Net loss
-1,519,759	323,962	-365,327	-635,081	-405,034	-44,290	677,249	746,041	615,209	352,385	303,167	181,448	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest
-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends on preferred stock
75,801	75,801	75,801	75,801	70,598	65,395	58,394	48,331	38,869	25,122	13,173	4,285	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss attributable to common stockholders
-1,595,560	248,161	-441,128	-710,882	-475,632	-109,685	617,755	693,936	572,526	323,449	510,897	535,507	514,193	353,278	222,581	70,005	308,487	492,210	244,541	472,921	291,077	167,139	443,516	57,198	406,178	579,039	528,925	748,455	383,822	291,906	154,036	181,843	156,855	127,432	92,462	47,731	52,804	35,755	0	0	0
Basic and diluted earnings (loss) per weighted average common share (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.05	-0.25	-	-0.09	0.60	0.26	-0.10	0.53	0.11	-0.08	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic earnings (loss) per weighted average common share:
Continuing operations
-	-	-	-	-	-	-	-	-	0.87	0.48	-0.06	0.33	-	-	-	-	-	-	-	-	-	-	-	-	0.64	-0.53	1.06	0.47	0.62	0.11	0.11	0.28	0.37	0.42	-0.01	0.49	0.60	0.38	0.18	0.40
Discontinued operations
-	-	-	-	-	-	-	-	-	0.02	0.05	0.08	0.08	-	-	-	-	-	-	-	-	-	-	-	-	0.01	0.00	0.00	0.00	0.02	-0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Basic loss per weighted average common share (in usd per share)
-6.91	0.46	1.05	-0.40	-0.18	-3.16	0.08	0.72	1.83	0.89	0.53	0.02	0.41	-	0.68	-	-	-	-	-	-	-	-	-	-	0.65	-0.53	1.06	0.47	0.64	0.10	0.11	0.28	0.37	0.42	-0.01	0.49	0.60	0.38	0.18	0.40
Diluted earnings (loss) per weighted average common share:
Continuing operations
-	-	-	-	-	-	-	-	-	0.86	0.47	-0.06	0.33	-	-	-	-	-	-	-	-	-	-	-	-	0.64	-0.53	1.06	0.47	0.61	0.11	0.11	0.28	0.37	0.42	-0.01	0.49	0.60	0.38	0.18	0.40
Discontinued operations
-	-	-	-	-	-	-	-	-	0.00	0.05	0.08	0.08	-	-	-	-	-	-	-	-	-	-	-	-	0.01	0.00	0.00	0.00	0.03	-0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Diluted loss per weighted average common share (in usd per share)
-6.91	0.51	1.00	-0.40	-0.18	-2.98	0.08	0.68	1.69	0.86	0.52	0.02	0.41	-	0.68	-	-	-	-	-	-	-	-	-	-	0.65	-0.53	1.06	0.47	0.64	0.10	0.11	0.28	0.37	0.42	-0.01	0.49	0.60	0.38	0.18	0.40
Dividends declared per common share (in usd per share)
0.00	-	0.40	0.40	0.47	-	0.47	0.47	0.47	-	0.52	0.52	0.50	-	0.46	0.23	0.23	-	0.26	0.26	0.26	-	0.26	0.26	0.26	-	0.28	0.31	0.32	0.55	0.36	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.39	0.33	0.36
Basic and diluted weighted average number of shares of common stock outstanding (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	347,597	349,436	-	367,365	367,074	366,507	366,238	366,118	366,078	365,611	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average basic common shares outstanding (in shares)
273,392	273,188	272,897	272,863	252,357	249,084	224,399	175,451	175,145	174,492	174,488	174,473	174,281	-	173,813	-	-	-	-	-	-	-	-	-	-	365,515	365,057	365,589	305,284	295,492	270,005	214,810	186,855	140,592	130,607	77,101	45,612	27,532	26,126	22,466	13,401
Weighted average diluted common shares outstanding (in shares)
273,392	255,032	291,053	272,863	252,357	213,651	224,399	193,212	192,818	214,870	188,907	174,473	174,281	-	173,813	-	-	-	-	-	-	-	-	-	-	365,781	365,166	366,057	306,963	296,229	270,937	214,810	186,855	140,592	130,607	77,101	45,612	27,532	26,126	22,466	13,401
Comprehensive (loss) income:
Net income (loss)
-1,595,560	248,161	-441,128	-710,882	-475,632	-109,685	617,755	693,936	572,526	323,449	510,897	535,507	514,193	353,278	222,581	70,005	308,487	492,210	244,541	472,921	291,077	167,139	443,516	57,198	406,178	579,039	528,925	748,455	383,822	291,906	154,036	181,843	156,855	127,432	92,462	47,731	52,804	35,755	0	0	0
Other comprehensive (loss) income, net of tax:
Unrealized (loss) gain on available-for-sale securities
24,361	578,583	903,083	812,451	467,015	-233,914	-587,697	-399,468	-282,953	135,586	-115,393	-165,080	-107,417	-159,834	-34,558	-111,335	-469,452	-496,728	-203,647	-186,598	223,388	411,054	263,874	551,633	-174,240	-251,723	-187,622	63,199	715,516	755,174	0	0	0	-	-	-	-	-	-	-	-
Other comprehensive (loss) income
24,361	578,583	903,083	812,451	467,015	-233,914	-587,697	-399,468	-282,953	135,586	-115,393	-165,080	-107,417	-159,834	-34,558	-111,335	-469,452	-496,728	-203,647	-186,598	223,388	411,054	263,874	551,633	-174,240	-251,723	-187,622	63,199	715,516	755,174	0	0	0	-	-	-	-	-	-	-	-
Comprehensive (loss) income
-1,495,398	902,545	537,756	177,370	61,981	-278,204	89,552	346,573	332,256	487,971	411,391	374,752	406,776	193,444	188,023	-41,330	-160,965	-4,518	40,894	286,323	514,465	578,193	707,390	608,831	231,938	327,316	341,303	811,654	1,099,338	1,047,080	0	0	0	-	-	-	-	-	-	-	-
Comprehensive income attributable to noncontrolling interest
-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income (loss) attributable to Two Harbors Investment Corp.
-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends on preferred stock
75,801	75,801	75,801	75,801	70,598	65,395	58,394	48,331	38,869	25,122	13,173	4,285	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive (loss) income attributable to common stockholders
-1,571,199	826,744	461,955	101,569	-8,617	-343,599	30,068	294,470	289,573	459,035	529,839	490,548	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-