← TWO HARBORS INVESTMENT CORP.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Available to Common Stockholders, Basic | $353.3m |
$323.4m
-8.44%
|
($109.7m)
-133.91%
|
$248.2m
+326.25%
|
($1.7b)
-787.43%
|
$128.0m
+107.51%
|
$185.6m
+44.94%
|
($153.2m)
-182.57%
|
$250.0m
+263.15%
|
($508.4m)
-303.37%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | $352.4m | ($44.3m) | $324.0m | ($1.6b) | $187.2m | $220.2m | ($106.4m) | $298.2m | ($454.3m) | — | |
| Amortization of Debt Issuance Costs and Discounts | $0 | $714k | $1.0m | $1.7m | $2.3m | $3.0m | $2.7m | $2.6m | $2.1m | $2.0m | — | |
| Amortization of Intangible Assets | $0 | — | — | — | — | — | — | — | — | — | — | |
| Depreciation | $1.3m | $969k | — | — | — | — | — | — | — | — | — | |
| Deferred Income Tax Expense (Benefit) | $13.8m | ($11.0m) | $41.8m | ($24.9m) | ($40.3m) | $6.0m | $105.2m | $14.5m | $33.7m | ($8.3m) | — | |
| Share-based Payment Arrangement, Noncash Expense | $15.2m | $11.3m | $13.0m | $9.2m | $9.7m | $11.5m | $11.6m | $11.0m | $10.9m | $13.4m | $10.8m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | — | — | — | — | $1.8m | — | |
| Share-based Payment Arrangement, Expense | $15.2m | — | $13.0m | $9.2m | $9.7m | $11.5m | $11.6m | $11.0m | $10.9m | $13.4m | $10.8m | |
| Marketable Securities, Gain (Loss), Excluding Other-than-temporary Impairment Loss | ($107.4m) | ($34.7m) | ($341.3m) | $280.1m | ($999.9m) | $121.6m | ($603.9m) | ($70.0m) | ($40.0m) | ($96.2m) | — | |
| Nonoperating Income (Expense) | $107.6m | $33.6m | ($103.0m) | $236.1m | ($1.7b) | $262.0m | $464.2m | ($395.6m) | $6.8m | ($420.0m) | — | |
| Other Nonoperating Income (Expense) | ($6.0m) | $27.8m | $3.0m | $337k | $1.4m | ($3.8m) | ($5k) | $5.1m | $1.2m | $5.2m | — | |
| Change In Working Capital | — | — | — | — | — | — | $151.3m | $57.5m | ($78.1m) | $22.4m | $12.9m | |
| Change In Receivables | — | — | — | — | — | — | ($9.8m) | $679k | $2.0m | $4.1m | $13.6m | |
| Changes In Account Receivables | — | — | — | — | — | — | ($9.8m) | $679k | $2.0m | $4.1m | $13.6m | |
| Net Cash Provided by (Used in) Operating Activities | $239.7m |
$606.8m
+153.16%
|
$702.9m
+15.84%
|
$1.1b
+50.33%
|
$631.6m
-40.23%
|
$423.5m
-32.95%
|
$623.4m
+47.20%
|
$343.5m
-44.90%
|
$201.0m
-41.49%
|
$88.9m
-55.76%
|
$127.2m
+43.07%
|
|
| Cash flows from investing activities: | ||||||||||||
| Capital Expenditure | — | — | — | — | — | ($742.2m) | ($629.8m) | ($312.6m) | ($114.1m) | — | ($13.8m) | |
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded | — | — | — | — | $44.4m | $4.6m | $983k | $425k | $131k | — | — | |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | — | — | ($349.6m) | $284.0m | ($924.3m) | $136.4m | ($566.3m) | ($118.9m) | ($39.3m) | ($98.4m) | — | |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $1.3b | $1.6b | $2.4b | $3.6b | $4.2b | $3.1b | $1.1b | $662.5m | $707.2m | $763.4m | — | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | $13.6m | $0 | $0 | — | — | — | $21.0m | $0 | $0 | |
| Payments for (Proceeds from) Other Investing Activities | — | — | ($44.3m) | ($31.6m) | ($2.5m) | ($10.0m) | $0 | $0 | — | — | — | |
| Net Other Investing Changes | — | — | — | — | — | — | $260.2m | ($36.8m) | $10.7m | ($425.6m) | ($61.7m) | |
| Net Cash Provided by (Used in) Investing Activities | ($5.8b) | ($9.5b) | $4.8b | ($6.1b) | $14.9b | $6.3b | ($2.8b) | ($195.8m) | $895.3m | $911.6m | $3.7b | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | $832.4m | $329.0m | $0 | $0 | — | — | — | — | — | — | ($261.9m) | |
| Debt and Equity Securities, Gain (Loss) | — | — | — | — | — | $131.4m | ($601.2m) | ($70.5m) | ($39.8m) | ($96.3m) | — | |
| Proceeds from Issuance of Long-term Debt | $1.9b | $0 | $0 | — | — | — | — | — | — | — | ($190k) | |
| Issuance Of Debt | — | — | — | — | — | — | $720.0m | $404.0m | $179.2m | $658.4m | ($190k) | |
| Long Term Debt Issuance | — | — | — | — | — | — | $720.0m | $0 | $0 | $110.6m | ($190k) | |
| Long Term Debt Payments | — | — | — | — | — | — | ($165.7m) | ($114.1m) | ($305.5m) | $0 | ($261.9m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | $273.7m | $554.3m | $96.2m | ($612.4m) | — | ($416.1m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $554.3m | ($114.1m) | ($305.5m) | $110.6m | ($262.1m) | |
| Net Short Term Debt Issuance | — | — | — | — | — | — | $0 | $210.3m | ($307.0m) | ($93.4m) | ($154.0m) | |
| Repayment Of Debt | — | — | — | — | — | — | ($165.7m) | ($307.8m) | ($791.6m) | ($641.3m) | ($261.9m) | |
| Short Term Debt Issuance | — | — | — | — | — | — | $0 | $404.0m | $179.2m | $547.8m | $360.3m | |
| Short Term Debt Payments | — | — | — | — | — | — | $0 | ($193.7m) | ($486.2m) | ($641.3m) | ($514.4m) | |
| Payments for Repurchase of Common Stock | $61.3m | $0 | $0 | $19k | $1.1m | $0 | $0 | $7.1m | $0 | $0 | — | |
| Payments of Ordinary Dividends, Common Stock | $331.9m | $422.9m | $270.6m | $463.1m | $199.5m | $193.5m | $235.4m | $197.6m | $187.7m | $170.9m | ($201.1m) | |
| Proceeds from Issuance of Common Stock | $502k | $449k | $215k | $336.3m | $372k | $450.6m | $6.6m | $275.7m | $244k | $279k | $208k | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($235.4m) | ($197.6m) | ($187.7m) | ($170.9m) | ($148.7m) | |
| Common Stock Issuance | — | — | — | — | — | — | $6.6m | $275.7m | $244k | $279k | $208k | |
| Common Stock Payments | — | — | — | — | — | — | $0 | ($7.1m) | $0 | $0 | $0 | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $6.6m | $275.7m | $244k | $279k | $208k | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($51.4m) | ($21.9m) | ($11.1m) | $0 | $0 | |
| Dividends Payable | $83.4m | $12.6m | $135.6m | $128.1m | $65.5m | $72.4m | $64.5m | $58.7m | $58.7m | $48.9m | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($290.4m) | ($246.6m) | ($235.0m) | ($222.4m) | ($201.1m) | |
| Preferred Stock Dividend Paid | — | — | — | — | — | — | ($55.0m) | ($49.0m) | ($47.4m) | ($51.5m) | ($52.4m) | |
| Net Cash Provided by (Used in) Financing Activities | $5.2b |
$9.1b
+73.81%
|
($5.5b)
-159.78%
|
$5.5b
+201.65%
|
($14.5b)
-361.83%
|
($7.3b)
+49.71%
|
$1.2b
+115.98%
|
($479.4m)
-141.12%
|
($1.1b)
-123.92%
|
($756.2m)
+29.55%
|
($3.8b)
-397.41%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | $42.8m | $519.1m | $1.0b | ($557.8m) | ($962.2m) | ($331.7m) | $22.8m | $244.3m | $865.1m | |
| Beginning Cash Position | — | — | — | — | — | — | $2.1b | $1.1b | $794.8m | $817.6m | $798.3m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $116.1m | $227.5m | $419.9m | $720.2m | $404.3m | $81.2m | $153.2m | $565.8m | $618.7m | $487.7m | — | |
| Income Taxes Paid, Net | ($5.1m) | ($856k) | $397k | $28.2m | $9.6m | ($23.3m) | ($1.6m) | $7.4m | $9.3m | $24.6m | — | |
| Additional Financial Items | ||||||||||||
| Derivative, Gain (Loss) on Derivative, Net | $99.4m | ($70.2m) | ($54.9m) | $260.0m | $90.0m | ($251.3m) | $9.3m | ($166.2m) | ($41.0m) | — | — | |
| Fair Value, Option, Changes in Fair Value, Gain (Loss) | $64.8m | $46.9m | — | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Derivative Instruments, Net, Pretax | — | — | — | — | — | — | — | — | — | ($91.5m) | — | |
| Gain (Loss) on Sale of Derivatives | ($12.4m) | $31.1m | ($32.7m) | $317.5m | ($332.4m) | ($259.9m) | $64.9m | ($100.1m) | ($103.5m) | — | — | |
| Gain (Loss) on Sale of Mortgage Loans | — | — | — | — | — | $1.8m | $9k | $0 | $1.5m | $5.1m | — | |
| Gain (Loss) on Sales of Loans, Net | $0 | — | — | — | — | — | — | — | $1.5m | $4.7m | — | |
| Goodwill | — | — | — | — | — | — | — | $27.5m | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | $308.2m | ($44.3m) | $324.0m | ($1.6b) | $187.2m | $220.2m | ($106.4m) | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | $44.1m | $0 | $0 | — | — | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | $40.3m | — | — | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | $12.3m | ($10.5m) | $41.8m | ($13.6m) | ($35.7m) | $4.2m | $104.2m | $23.0m | $46.6m | $8.9m | — | |
| Litigation Settlement Loss | — | — | — | — | — | — | — | — | — | $375.0m | — | |
| Noncash Merger Related Costs | — | — | $77.6m | $0 | $0 | — | — | — | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | $37.5m | ($50.1m) | ($23.5m) | $34.7m | $25.5m | $5.2m | ($13.8m) | ($102.7m) | $58.1m | — | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $1.2b | ($479.4m) | ($1.1b) | ($756.2m) | ($3.8b) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($2.8b) | ($195.8m) | $895.3m | $911.6m | $3.7b | |
| Change In Account Payable | — | — | — | — | — | — | $75.7m | $47.7m | ($55.8m) | ($4.1m) | ($36.2m) | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($962.2m) | ($331.7m) | $22.8m | $244.3m | — | |
| Change In Other Working Capital | — | — | — | — | — | $9.6m | ($19.9m) | ($5.4m) | ($58.1m) | — | $30.8m | |
| Change In Payable | — | — | — | — | — | — | $75.7m | $47.7m | ($55.8m) | ($4.1m) | ($36.2m) | |
| Changes In Cash | — | — | — | — | — | — | ($962.2m) | ($331.7m) | $22.8m | $244.3m | $66.8m | |
| End Cash Position | — | — | — | — | — | — | $1.1b | $794.8m | $817.6m | $1.1b | $865.1m | |
| Financing Cash Flow | — | — | — | — | — | — | $1.2b |
($479.4m)
-141.12%
|
($1.1b)
-123.92%
|
($756.2m)
+29.55%
|
($3.8b)
-397.41%
|
|
| Free Cash Flow | — | — | — | — | — | — | ($6.4m) | $30.9m | $86.9m | ($15.1m) | $113.4m | |
| Gain Loss On Investment Securities | — | — | — | — | — | — | $601.2m | $70.5m | $39.8m | $96.3m | $43.8m | |
| Investing Cash Flow | — | — | — | — | — | — | ($2.8b) | ($195.8m) | $895.3m | $911.6m | $3.7b | |
| Net Business Purchase And Sale | — | — | — | — | — | — | $0 | $26.8m | ($21.0m) | $0 | $0 | |
| Net Intangibles Purchase And Sale | — | — | — | — | — | — | ($368.0m) | ($178.7m) | ($4.3m) | $335.1m | $425.3m | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | ($1.7b) | ($789.9m) | $981.8m | $803.3m | $3.2b | |
| Net Preferred Stock Issuance | — | — | — | — | — | — | ($51.4m) | ($14.8m) | ($11.1m) | $0 | $0 | |
| Operating Gains Losses | — | — | — | — | — | — | $583.4m | $247.0m | ($108.9m) | $253.4m | $42.8m | |
| Other Non Cash Items | — | — | — | — | — | — | ($425.6m) | $106.5m | $61.0m | $233.8m | — | |
| Preferred Stock Payments | — | — | — | — | — | — | ($51.4m) | ($14.8m) | ($11.1m) | $0 | $0 | |
| Purchase Of Business | — | — | — | — | — | — | $0 | — | ($21.0m) | $0 | $0 | |
| Purchase Of Intangibles | — | — | — | — | — | — | ($629.8m) | ($312.6m) | ($114.1m) | ($104.0m) | ($13.8m) | |
| Purchase Of Investment | — | — | — | — | — | — | ($10.7b) | ($4.1b) | ($2.1b) | ($9.6b) | ($4.4b) | |
| Sale Of Business | — | — | — | — | — | $0 | $0 | $26.8m | — | — | — | |
| Sale Of Intangibles | — | — | — | — | — | — | $261.8m | $133.9m | $109.8m | $439.1m | $91.6m | |
| Sale Of Investment | — | — | — | — | — | — | $9.0b | $3.3b | $3.1b | $10.4b | $7.6b | |
| Stock Based Compensation | — | — | — | — | — | — | $11.6m | $11.0m | $10.9m | $13.4m | $10.8m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.