| Cash Flow | 2025-09-30 |
|---|---|
| Net (loss) income | -466,017 |
| Amortization of premiums and discounts on investment securities, net | -13,421 |
| Amortization of deferred debt issuance costs on term notes payable, senior notes and convertible senior notes | 1,419 |
| Reversal of provision for credit losses on investment securities | -113 |
| Realized and unrealized losses on investment securities | -81,859 |
| Loss on servicing asset | -177,019 |
| Realized and unrealized loss on interest rate swaps and swaptions | -167,920 |
| Unrealized gains on other derivative instruments | 24,597 |
| Gains on mortgage loans held-for-sale | 3,364 |
| Gain on repurchase of convertible senior notes | 0 |
| Equity based compensation | 9,999 |
| Originations and purchases of mortgage loans held-for-sale | 127,292 |
| Proceeds from sales of mortgage loans held-for-sale | 117,267 |
| Proceeds from repayment of mortgage loans held-for-sale | 1,372 |
| Decrease (increase) in accrued interest receivable | -5,006 |
| (increase) decrease in deferred income taxes, net | 12,425 |
| Decrease in accrued interest payable | -40,768 |
| Change in other operating assets and liabilities, net | -71,081 |
| Net cash (used in) provided by operating activities | -28,213 |
| Purchases of available-for-sale securities | 8,753,764 |
| Proceeds from sales of available-for-sale securities | 9,348,345 |
| Principal payments on available-for-sale securities | 602,489 |
| Purchases of mortgage servicing rights, net of purchase price adjustments | 101,568 |
| Proceeds from sales of mortgage servicing rights | 297,500 |
| Net (payments) proceeds on derivative instruments | 285,065 |
| Payments for reverse repurchase agreements | 2,633,726 |
| Proceeds from reverse repurchase agreements | 2,831,566 |
| Payment for acquisition of roundpoint mortgage servicing llc | 0 |
| Decrease in due to counterparties, net | -376,933 |
| Net cash provided by (used in) investing activities | 928,844 |
| Proceeds from repurchase agreements | 35,598,361 |
| Principal payments on repurchase agreements | 36,298,768 |
| Proceeds from revolving credit facilities | 213,000 |
| Principal payments on revolving credit facilities | 287,800 |
| Proceeds from warehouse lines of credit | 121,100 |
| Principal payments on warehouse lines of credit | 114,680 |
| Repayment of term notes payable | 0 |
| Proceeds from issuance of senior notes | 110,588 |
| Repurchase of convertible senior notes | 0 |
| Repurchase and retirement of preferred stock | 0 |
| Proceeds from issuance of common stock, net of offering costs | 210 |
| Dividends paid on preferred stock | 38,209 |
| Dividends paid on common stock | 135,153 |
| Net cash used in financing activities | -831,351 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 69,280 |
| Cash and cash equivalents at beginning of period | 817,641 |
| Cash and cash equivalents at end of period | 886,921 |
TWO HARBORS INVESTMENT CORP. (TWO-PB)
TWO HARBORS INVESTMENT CORP. (TWO-PB)