2014 Q2 Form 10-Q Financial Statement

#000146574014000059 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $140.1M $145.3M
YoY Change -3.56% 37.22%
Cost Of Revenue $43.40M $37.70M
YoY Change 15.12% 63.2%
Gross Profit $31.30M $497.2M
YoY Change -93.7% 500.48%
Gross Profit Margin 22.33% 342.13%
Selling, General & Admin $15.00M
YoY Change
% of Gross Profit 47.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $257.0K $142.0K
YoY Change 80.99% 218.49%
% of Gross Profit 0.82% 0.03%
Operating Expenses $14.90M $9.486M
YoY Change 57.07% 142.05%
Operating Profit $16.40M $487.7M
YoY Change -96.64% 518.29%
Interest Expense $24.95M $24.72M
YoY Change 0.92% 59.22%
% of Operating Profit 152.13% 5.07%
Other Income/Expense, Net -$65.43M
YoY Change
Pretax Income $16.40M $436.7M
YoY Change -96.25% 5661.74%
Income Tax -$23.26M $49.12M
% Of Pretax Income -141.86% 11.25%
Net Earnings $39.70M $388.6M
YoY Change -89.78% 1518.9%
Net Earnings / Revenue 28.33% 267.4%
Basic Earnings Per Share $0.11 $1.06
Diluted Earnings Per Share $0.11 $1.06
COMMON SHARES
Basic Shares Outstanding 364.1M shares 365.6M shares
Diluted Shares Outstanding 366.1M shares 366.1M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.183B $917.0M
YoY Change 29.01% 84.51%
Cash & Equivalents $1.183B $917.2M
Short-Term Investments
Other Short-Term Assets $1.000M $1.000M
YoY Change 0.0% 0.0%
Inventory
Prepaid Expenses
Receivables $50.00M
Other Receivables $44.00M
Total Short-Term Assets $1.278B $939.0M
YoY Change 36.1% 60.79%
LONG-TERM ASSETS
Property, Plant & Equipment $2.266M $1.430M
YoY Change 58.46% 43.0%
Goodwill
YoY Change
Intangibles $0.00 $1.600M
YoY Change -100.0%
Long-Term Investments $15.82B $17.25B
YoY Change -8.31% 46.13%
Other Assets $308.0M $686.0M
YoY Change -55.1% 255.44%
Total Long-Term Assets $16.54B $18.70B
YoY Change -11.58% 50.86%
TOTAL ASSETS
Total Short-Term Assets $1.278B $939.0M
Total Long-Term Assets $16.54B $18.70B
Total Assets $17.81B $19.64B
YoY Change -9.3% 51.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $25.12M $12.04M
YoY Change 108.56% -47.64%
Deferred Revenue
YoY Change
Short-Term Debt $11.39B $14.90B
YoY Change -23.57% 42.78%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.67B $15.40B
YoY Change -24.21% 43.7%
LONG-TERM LIABILITIES
Long-Term Debt $2.062B $363.0M
YoY Change 468.04%
Other Long-Term Liabilities $25.00M $46.00M
YoY Change -45.65% -44.58%
Total Long-Term Liabilities $2.087B $409.0M
YoY Change 410.27% 392.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.67B $15.40B
Total Long-Term Liabilities $2.087B $409.0M
Total Liabilities $13.76B $15.81B
YoY Change -12.97% 46.38%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.661M $3.657M
YoY Change 0.11% 66.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.059B $3.834B
YoY Change
Total Liabilities & Shareholders Equity $17.81B $19.64B
YoY Change -9.3% 51.31%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $39.70M $388.6M
YoY Change -89.78% 1518.9%
Depreciation, Depletion And Amortization $257.0K $142.0K
YoY Change 80.99% 218.49%
Cash From Operating Activities -$203.1M -$663.8M
YoY Change -69.4% -1743.07%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$352.3M -$1.325B
YoY Change -73.42% -26.53%
Cash From Investing Activities -$352.3M -$1.325B
YoY Change -73.42% -26.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 197.6M 1.766B
YoY Change -88.81% 2.98%
NET CHANGE
Cash From Operating Activities -203.1M -663.8M
Cash From Investing Activities -352.3M -1.325B
Cash From Financing Activities 197.6M 1.766B
Net Change In Cash -357.8M -223.5M
YoY Change 60.09% 356.12%
FREE CASH FLOW
Cash From Operating Activities -$203.1M -$663.8M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2013Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
0 USD
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
0 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
0 USD
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
CY2013Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
CY2013Q4 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2013-12-31
CY2014Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2014-04-21
CY2013Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2013-07-23
CY2013Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2013-10-23
CY2014Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2014-07-22
us-gaap Dividends Common Stock Cash
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190361000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
230202000 USD
us-gaap Dividends Common Stock Paidinkind
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343481000 USD
CY2013Q4 us-gaap Dividends Payable Current And Noncurrent
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0 USD
CY2014Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
95189000 USD
CY2013Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
113378000 USD
CY2013Q2 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2013-06-18
CY2014Q2 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2014-06-17
CY2013Q4 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2013-12-17
CY2013Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2013-09-11
CY2014Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2014-03-17
CY2013Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2013-09-26
CY2014Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2014-03-31
CY2013Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2013-06-28
CY2014Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2014-07-02
CY2013Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2013-12-27
CY2013Q4 us-gaap Due From Correspondent Brokers
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25087000 USD
CY2014Q2 us-gaap Due From Correspondent Brokers
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30381000 USD
CY2013Q4 us-gaap Due To Correspondent Brokers
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318848000 USD
CY2014Q2 us-gaap Due To Correspondent Brokers
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140975000 USD
CY2014Q2 us-gaap Earnings Per Share Basic
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0.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2013Q2 us-gaap Earnings Per Share Basic
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1.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2013Q2 us-gaap Interest And Dividend Income Operating
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us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
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1662000 USD
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0.11
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212000 USD
CY2013Q2 us-gaap Earnings Per Share Diluted
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1.06
us-gaap Fair Value Inputs Discount Rate
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0.100
CY2013 us-gaap Fair Value Inputs Discount Rate
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0.090
us-gaap Fair Value Inputs Prepayment Rate
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0.125
CY2013 us-gaap Fair Value Inputs Prepayment Rate
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0.095
CY2013 us-gaap Fair Value Inputs Probability Of Default
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0.040
us-gaap Fair Value Inputs Probability Of Default
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0.040
us-gaap Fair Value Measurements Valuation Processes Description
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Discounted cash flow
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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38011000 USD
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
24034000 USD
CY2014Q2 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
33335000 USD
CY2013Q2 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
-6288000 USD
us-gaap Fair Value Option Credit Risk Gains Losses On Assets
FairValueOptionCreditRiskGainsLossesOnAssets
0 USD
us-gaap Fair Value Option Credit Risk Gains Losses On Assets
FairValueOptionCreditRiskGainsLossesOnAssets
1069000 USD
CY2014Q2 us-gaap Fair Value Option Credit Risk Gains Losses On Assets
FairValueOptionCreditRiskGainsLossesOnAssets
1036000 USD
CY2013Q2 us-gaap Fair Value Option Credit Risk Gains Losses On Assets
FairValueOptionCreditRiskGainsLossesOnAssets
0 USD
CY2014Q2 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
1653297000 USD
CY2014Q2 us-gaap Federal Home Loan Bank Advances Long Term
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1463762000 USD
CY2014Q2 us-gaap Federal Home Loan Bank Stock
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60010000 USD
CY2013Q4 us-gaap Federal Home Loan Bank Stock
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10000 USD
CY2013Q2 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
259826000 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-221547000 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
278798000 USD
CY2014Q2 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-116019000 USD
us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
-967000 USD
us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
77653000 USD
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-45168000 USD
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-37191000 USD
CY2014Q2 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-38149000 USD
CY2013Q2 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
25765000 USD
us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
21142000 USD
us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
7847000 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13827000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
26349000 USD
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7603000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12284000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
16397000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
436740000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
584043000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-46650000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
387621000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
39657000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
10512000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
529960000 USD
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.03
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.06
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.58
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.11
CY2014Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.11
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.03
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.06
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.57
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
2393000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1016000 USD
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
49119000 USD
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2014Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
278684000 USD
CY2013Q2 us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
134651000 USD
us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
251518000 USD
us-gaap Income Taxes Paid
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3903000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2014Q2 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
290000 USD
CY2013Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
0 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-465000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1320000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
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11467000 USD
us-gaap Increase Decrease In Accrued Interest Receivable Net
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-193000 USD
us-gaap Increase Decrease In Accrued Liabilities
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379000 USD
us-gaap Increase Decrease In Accrued Liabilities
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5673000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
60310000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
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us-gaap Increase Decrease In Income Taxes Receivable
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290000 USD
us-gaap Increase Decrease In Income Taxes Receivable
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-4323000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-1550000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
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us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
0 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
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us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-28437000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
11396000 USD
us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
-50054000 USD
us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
-183167000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
929000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
557000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-114682000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
383643000 USD
CY2014Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
0 USD
CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
533000 USD
us-gaap Interest And Dividend Income Operating
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280160000 USD
CY2014Q2 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
140149000 USD
us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
3866000 USD
CY2014Q2 us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
127605000 USD
us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
2525000 USD
us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
264943000 USD
CY2014Q2 us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
1940000 USD
CY2013Q2 us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
1261000 USD
CY2014Q2 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
7761000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
6023000 USD
CY2013Q2 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
4369000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
15654000 USD
CY2013Q2 us-gaap Interest And Fee Income Loans Held For Sale Mortgages
InterestAndFeeIncomeLoansHeldForSaleMortgages
4794000 USD
CY2014Q2 us-gaap Interest And Fee Income Loans Held For Sale Mortgages
InterestAndFeeIncomeLoansHeldForSaleMortgages
2699000 USD
us-gaap Interest And Fee Income Loans Held For Sale Mortgages
InterestAndFeeIncomeLoansHeldForSaleMortgages
7285000 USD
us-gaap Interest And Fee Income Loans Held For Sale Mortgages
InterestAndFeeIncomeLoansHeldForSaleMortgages
6112000 USD
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InterestExpense
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us-gaap Interest Expense
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51028000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
24950000 USD
us-gaap Interest Expense
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48558000 USD
us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
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0 USD
CY2013Q2 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
0 USD
CY2014Q2 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
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755000 USD
us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
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908000 USD
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2987000 USD
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2169000 USD
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10945000 USD
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5592000 USD
CY2014Q2 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
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18603000 USD
CY2013Q2 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
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22553000 USD
us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
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39175000 USD
us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
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45571000 USD
CY2013Q2 us-gaap Interest Income Domestic Deposits
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250000 USD
CY2014Q2 us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
144000 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
361000 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
557000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
231602000 USD
CY2013Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
120603000 USD
CY2014Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
115199000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
227656000 USD
us-gaap Interest Paid
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us-gaap Interest Paid
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50108000 USD
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CY2013Q4 us-gaap Interest Payable Current And Noncurrent
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20277000 USD
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50303000 USD
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CY2014Q2 us-gaap Liabilities
Liabilities
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CY2013Q4 us-gaap Liabilities
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CY2013Q4 us-gaap Liabilities And Stockholders Equity
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CY2014Q2 us-gaap Liabilities And Stockholders Equity
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CY2014Q2 us-gaap Loans And Leases Receivable Net Reported Amount
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399841000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
544581000 USD
two Disposal Group Including Discontinued Operation Management Fees
DisposalGroupIncludingDiscontinuedOperationManagementFees
0 USD
two Disposal Group Including Discontinued Operation Management Fees
DisposalGroupIncludingDiscontinuedOperationManagementFees
0 USD
CY2012Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
58607000 USD
CY2013Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
958201000 USD
CY2014Q2 us-gaap Loans And Leases Receivable Net Reported Amount Other
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804666000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Net Reported Amount Other
LoansAndLeasesReceivableNetReportedAmountOther
792390000 USD
CY2013Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
200839000 USD
CY2014Q2 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
290403000 USD
us-gaap Loans Receivable Held For Sale Reconciliation To Cash Flow Additions To Held For Sale
LoansReceivableHeldForSaleReconciliationToCashFlowAdditionsToHeldForSale
954027000 USD
us-gaap Loans Receivable Held For Sale Reconciliation To Cash Flow Additions To Held For Sale
LoansReceivableHeldForSaleReconciliationToCashFlowAdditionsToHeldForSale
261983000 USD
us-gaap Loans Receivable Held For Sale Reconciliation To Cash Flow Deductions From Held For Sale
LoansReceivableHeldForSaleReconciliationToCashFlowDeductionsFromHeldForSale
11160000 USD
us-gaap Loans Receivable Held For Sale Reconciliation To Cash Flow Deductions From Held For Sale
LoansReceivableHeldForSaleReconciliationToCashFlowDeductionsFromHeldForSale
9649000 USD
us-gaap Loans Receivable Held For Sale Reconciliation To Cash Flow Period Increase Decrease
LoansReceivableHeldForSaleReconciliationToCashFlowPeriodIncreaseDecrease
5176000 USD
us-gaap Loans Receivable Held For Sale Reconciliation To Cash Flow Period Increase Decrease
LoansReceivableHeldForSaleReconciliationToCashFlowPeriodIncreaseDecrease
-19380000 USD
CY2013Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
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CY2014Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
561921000 USD
CY2014Q2 us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
37688000 USD
CY2013Q2 us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
50863000 USD
us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
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us-gaap Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
77831000 USD
us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization and Operations</font></div><div style="line-height:120%;padding-top:4px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Two Harbors Investment Corp., or the Company, is a Maryland corporation focused on investing in, financing and managing residential mortgage-backed securities, or RMBS, residential mortgage loans, mortgage servicing rights, or MSR, and other financial assets. The Company is externally managed and advised by PRCM Advisers LLC, or PRCM Advisers, which is a subsidiary of Pine River Capital Management L.P., or Pine River, a global multi-strategy asset management firm. The Company&#8217;s common stock is listed on the NYSE under the symbol &#8220;TWO&#8221;.</font></div><div style="line-height:120%;padding-top:4px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company was incorporated on May 21, 2009 and commenced operations as a publicly traded company on October 28, 2009, upon completion of a merger with Capitol Acquisition Corp., or Capitol, which became a wholly owned indirect subsidiary as a result of the merger.</font></div><div style="line-height:120%;padding-top:4px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has elected to be treated as a real estate investment trust, or REIT, as defined under the Internal Revenue Code of 1986, as amended, or the Code, for U.S. federal income tax purposes commencing with its initial taxable period ended December 31, 2009. As long as the Company continues to comply with a number of requirements under federal tax law and maintains its qualification as a REIT, the Company generally will not be subject to U.S. federal income taxes to the extent that the Company distributes its taxable income to its stockholders on an annual basis and does not engage in prohibited transactions. However, certain activities that the Company may perform may cause it to earn income which will not be qualifying income for REIT purposes. The Company has designated certain of its subsidiaries as taxable REIT subsidiaries, or TRSs, as defined in the Code, to engage in such activities, and the Company may in the future form additional TRSs.</font></div><div style="line-height:120%;padding-top:4px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On December 19, 2012, the Company completed the contribution of its portfolio of single-family rental properties to Silver Bay Realty Trust Corp., or Silver Bay, a newly organized Maryland corporation intended to qualify as a REIT and focused on the acquisition, renovation, leasing and management of single-family residential properties for rental income and long-term capital appreciation. The Company contributed its equity interests in its wholly owned subsidiary, Two Harbors Property Investment LLC, to Silver Bay, and in exchange for its contribution, received shares of common stock of Silver Bay. Silver Bay completed its initial public offering, or IPO, of its common stock on December 19, 2012. Because the Company will not have any significant continuing involvement in Two Harbors Property Investment LLC, all of the associated operating results were removed from continuing operations and are presented separately as discontinued operations for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three and six months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:normal;text-decoration:none;">June&#160;30, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;">. See </font><font style="font-family:inherit;font-size:10pt;">Note 4</font><font style="font-family:inherit;font-size:10pt;"> - </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Discontinued Operations</font><font style="font-family:inherit;font-size:10pt;"> for additional information.</font></div><div style="line-height:120%;padding-top:4px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On April 30, 2013, one of the Company&#8217;s wholly owned subsidiaries acquired a company that has approvals from the Federal National Mortgage Association, or Fannie Mae, the Federal Home Loan Mortgage Corporation, or Freddie Mac, and the Government National Mortgage Association, or Ginnie Mae, to hold and manage MSR. The MSR acquired in conjunction with the acquisition of this entity and those subsequently purchased represent the right to service mortgage loans. The Company and its subsidiaries do not originate or directly service mortgage loans, and instead contract with fully licensed subservicers to handle all servicing functions for the loans underlying the Company&#8217;s MSR. See </font><font style="font-family:inherit;font-size:10pt;">Note 9</font><font style="font-family:inherit;font-size:10pt;"> - </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Servicing Activities </font><font style="font-family:inherit;font-size:10pt;">for additional information.</font></div></div>
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CY2014Q2 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of10 Percent Adverse Change In Prepayment Speed
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CY2013Q4 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of10 Percent Adverse Change In Prepayment Speed
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CY2013Q4 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of20 Percent Adverse Change In Discount Rate
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CY2014Q2 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of20 Percent Adverse Change In Other Assumption
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CY2013Q4 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of20 Percent Adverse Change In Other Assumption
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CY2014Q2 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of20 Percent Adverse Change In Prepayment Speed
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CY2013Q4 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of20 Percent Adverse Change In Prepayment Speed
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CY2013Q2 us-gaap Servicing Asset At Fair Value Additions
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1497000 USD
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us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
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us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
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us-gaap Servicing Asset At Fair Value Other Changes In Fair Value
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us-gaap Servicing Asset At Fair Value Other Changes That Affect Balance
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10000000 shares
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us-gaap Trading Gains Losses
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us-gaap Trading Gains Losses
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2013Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014Q2 two Assets Sold Under Agreements To Repurchase Weighted Average Borrowing Rate Excluding Us Treasuries And Interest Rate Swaps
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CY2013Q4 two Assets Sold Under Agreements To Repurchase Weighted Average Borrowing Rate Excluding Us Treasuries And Interest Rate Swaps
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68
CY2013Q4 two Assets Sold Under Agreements To Repurchase Weighted Average Remaining Maturity Excluding Us Treasuries And Interest Rate Swaps
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72
CY2014Q2 two At Market Offering Number Of Shares Authorized To Be Sold
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20000000 shares
CY2014Q2 two Avaialble For Sale Securities Categorized As Level2 Assets
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two Disposal Group Including Discontinued Operation Real Estate Related Expenses
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two Available For Sale Securities Gross Realized Gains Losses Amortized Cost Sold
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two Available For Sale Securities Gross Realized Gains Losses Amortized Cost Sold
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137300000 USD
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CY2014Q2 two Available For Sale Securities Number Of Positions
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AvailableForSaleSecuritiesUnamortizedPremium
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CY2013 two Cashless Warrants Exercised During Period
CashlessWarrantsExercisedDuringPeriod
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CY2014Q2 two Collateralized Borrowings In Securitization Trust Categorized As Level2 Liabilities
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213868
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ContinuingInvolvementwithContinuedtobeRecognizedTransferredFinancialAssetsNumberofLoans
228428
two Derivative Average Notional Amount
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two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
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CY2014Q2 two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
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CY2013Q2 two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
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two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
38413446000 USD
two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
30605735000 USD
CY2014Q2 two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
14770625000 USD
CY2013Q2 two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
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two Derivative Notional Amount Settlement Termination Expirationor Exercise
DerivativeNotionalAmountSettlementTerminationExpirationorExercise
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two Derivative Notional Amount Settlement Termination Expirationor Exercise
DerivativeNotionalAmountSettlementTerminationExpirationorExercise
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CY2013Q2 two Derivative Notional Amount Settlement Termination Expirationor Exercise
DerivativeNotionalAmountSettlementTerminationExpirationorExercise
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CY2014Q2 two Derivative Notional Amount Settlement Termination Expirationor Exercise
DerivativeNotionalAmountSettlementTerminationExpirationorExercise
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two Directors And Officers Insurance Expense
DirectorsAndOfficersInsuranceExpense
402000 USD
two Directors And Officers Insurance Expense
DirectorsAndOfficersInsuranceExpense
485000 USD
CY2014Q2 two Directors And Officers Insurance Expense
DirectorsAndOfficersInsuranceExpense
242000 USD
CY2013Q2 two Directors And Officers Insurance Expense
DirectorsAndOfficersInsuranceExpense
201000 USD
CY2012Q4 two Discontinued Operation Future Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationFutureGainLossOnDisposalOfDiscontinuedOperationNetOfTax
4000000 USD
CY2014Q2 two Disposal Group Including Discontinued Operation Management Fees
DisposalGroupIncludingDiscontinuedOperationManagementFees
0 USD
CY2013Q2 two Disposal Group Including Discontinued Operation Management Fees
DisposalGroupIncludingDiscontinuedOperationManagementFees
0 USD
CY2014Q2 two Disposal Group Including Discontinued Operation Real Estate Related Expenses
DisposalGroupIncludingDiscontinuedOperationRealEstateRelatedExpenses
0 USD
two Disposal Group Including Discontinued Operation Real Estate Related Expenses
DisposalGroupIncludingDiscontinuedOperationRealEstateRelatedExpenses
0 USD
CY2013Q2 two Disposal Group Including Discontinued Operation Real Estate Related Expenses
DisposalGroupIncludingDiscontinuedOperationRealEstateRelatedExpenses
0 USD
CY2014Q2 two Disposal Group Including Discontinued Operation Total Expenses
DisposalGroupIncludingDiscontinuedOperationTotalExpenses
0 USD
CY2013Q2 two Disposal Group Including Discontinued Operation Total Expenses
DisposalGroupIncludingDiscontinuedOperationTotalExpenses
0 USD
two Distribution Of Special Dividend
DistributionOfSpecialDividend
343481000 USD
two Distribution Of Special Dividend
DistributionOfSpecialDividend
0 USD
CY2014Q2 two Distribution Ratio Of Special Dividend Declared
DistributionRatioOfSpecialDividendDeclared
0.048825853
CY2012Q4 two Equity Securities Shares
EquitySecuritiesShares
17824647 shares
CY2014Q2 two Forward Purchase Commitments Categorizedas Level2 Assets Liabilities
ForwardPurchaseCommitmentsCategorizedasLevel2AssetsLiabilities
1.00
two Gain Losson Mortgage Loans Heldfor Sale
GainLossonMortgageLoansHeldforSale
8620000 USD
CY2014Q2 two Gain Losson Mortgage Loans Heldfor Sale
GainLossonMortgageLoansHeldforSale
11801000 USD
two Gain Losson Mortgage Loans Heldfor Sale
GainLossonMortgageLoansHeldforSale
-20819000 USD
CY2013Q2 two Gain Losson Mortgage Loans Heldfor Sale
GainLossonMortgageLoansHeldforSale
-35142000 USD
two Gainon Terminationof Interest Rate Swapsand Swaptions
GainonTerminationofInterestRateSwapsandSwaptions
-6401000 USD
two Gainon Terminationof Interest Rate Swapsand Swaptions
GainonTerminationofInterestRateSwapsandSwaptions
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CY2014Q2 two Gross Asset Management Costs Before Reduction
GrossAssetManagementCostsBeforeReduction
12190000 USD
CY2013Q2 two Gross Asset Management Costs Before Reduction
GrossAssetManagementCostsBeforeReduction
12630000 USD
two Gross Asset Management Costs Before Reduction
GrossAssetManagementCostsBeforeReduction
21692000 USD
two Gross Asset Management Costs Before Reduction
GrossAssetManagementCostsBeforeReduction
24301000 USD
two Increase Decreasein Servicing Advances
IncreaseDecreaseinServicingAdvances
8532000 USD
two Increase Decreasein Servicing Advances
IncreaseDecreaseinServicingAdvances
4881000 USD
CY2014Q2 two Interest Rate Swaps Swaptions And Credit Default Swaps Categorized As Level2 Assets Liabilities
InterestRateSwapsSwaptionsAndCreditDefaultSwapsCategorizedAsLevel2AssetsLiabilities
1.00
CY2014Q2 two Inverse Interest Only Securities Categorized As Level2 Assets
InverseInterestOnlySecuritiesCategorizedAsLevel2Assets
1.00
CY2014Q2 two Loans Held For Sale Mortgages Fair Value Adjustment
LoansHeldForSaleMortgagesFairValueAdjustment
1539000 USD
CY2013Q4 two Loans Held For Sale Mortgages Fair Value Adjustment
LoansHeldForSaleMortgagesFairValueAdjustment
-136259000 USD
CY2014Q2 two Loans Held For Sale Mortgages Unpaid Principal
LoansHeldForSaleMortgagesUnpaidPrincipal
398302000 USD
CY2013Q4 two Loans Held For Sale Mortgages Unpaid Principal
LoansHeldForSaleMortgagesUnpaidPrincipal
680840000 USD
two Loans Receivable Heldforsale Reconciliationto Cash Flow Sales
LoansReceivableHeldforsaleReconciliationtoCashFlowSales
400739000 USD
two Loans Receivable Heldforsale Reconciliationto Cash Flow Sales
LoansReceivableHeldforsaleReconciliationtoCashFlowSales
25404000 USD
two Management Fee Percent
ManagementFeePercent
0.015
CY2013Q4 two Mortgage Loans Held For Invesment Unpaid Principal
MortgageLoansHeldForInvesmentUnpaidPrincipal
812538000 USD
CY2014Q2 two Mortgage Loans Held For Invesment Unpaid Principal
MortgageLoansHeldForInvesmentUnpaidPrincipal
786208000 USD
dei Entity Registrant Name
EntityRegistrantName
TWO HARBORS INVESTMENT CORP.
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
37366610000 USD
CY2014Q2 two Mortgage Loans Held For Investment Categorized As Level2 Assets
MortgageLoansHeldForInvestmentCategorizedAsLevel2Assets
1.00
CY2014Q2 two Mortgage Loans Held For Investment Fair Value Adjustment
MortgageLoansHeldForInvestmentFairValueAdjustment
18458000 USD
CY2013Q4 two Mortgage Loans Held For Investment Fair Value Adjustment
MortgageLoansHeldForInvestmentFairValueAdjustment
-20148000 USD
CY2014Q2 two Mortgage Loans Held For Sale Categorized As Level2 Assets
MortgageLoansHeldForSaleCategorizedAsLevel2Assets
0.943
CY2014Q2 two Mortgage Loans Held For Sale Categorized As Level3 Assets
MortgageLoansHeldForSaleCategorizedAsLevel3Assets
0.057
CY2014Q2 two Mortgage Servicing Rights Categorized As Level3 Assets
MortgageServicingRightsCategorizedAsLevel3Assets
1.00
two Other Than Temporary Impairment Losses Investments Number Available For Sale Securities
OtherThanTemporaryImpairmentLossesInvestmentsNumberAvailableForSaleSecurities
4
two Other Than Temporary Impairment Losses Investments Number Available For Sale Securities
OtherThanTemporaryImpairmentLossesInvestmentsNumberAvailableForSaleSecurities
3
two Otherthan Temporary Impairment Losses Investments Availableforsale Securities Portion Recognizedin Earnings Net Qualitative Disclosures Weighted Average Cumulative Losses
OtherthanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecuritiesPortionRecognizedinEarningsNetQualitativeDisclosuresWeightedAverageCumulativeLosses
0.096
two Otherthan Temporary Impairment Losses Investments Availableforsale Securities Portion Recognizedin Earnings Net Qualitative Disclosures Weighted Average Fico Score
OtherthanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecuritiesPortionRecognizedinEarningsNetQualitativeDisclosuresWeightedAverageFICOScore
664
two Otherthan Temporary Impairment Losses Investments Availableforsale Securities Portion Recognizedin Earnings Net Qualitative Disclosures Weighted Average Three Month Prepayment Speed
OtherthanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecuritiesPortionRecognizedinEarningsNetQualitativeDisclosuresWeightedAverageThreeMonthPrepaymentSpeed
0.042
two Paymentsto Acquire Trading Securities
PaymentstoAcquireTradingSecurities
143022000 USD
two Paymentsto Acquire Trading Securities
PaymentstoAcquireTradingSecurities
0 USD
CY2013Q1 two Proceeds From Issuance Of Common Stock Net
ProceedsFromIssuanceOfCommonStockNet
762900000 USD
two Proceedsfrom Salesof Trading Securities
ProceedsfromSalesofTradingSecurities
0 USD
two Proceedsfrom Salesof Trading Securities
ProceedsfromSalesofTradingSecurities
143378000 USD
CY2014Q2 two Proceedsfrom Salesof Trading Securities
ProceedsfromSalesofTradingSecurities
44796000 USD
CY2012Q4 two Reduction Of Future Management Fees
ReductionOfFutureManagementFees
4300000 USD
two Reduction Of Mangement Fees
ReductionOfMangementFees
4340000 USD
CY2013Q2 two Reduction Of Mangement Fees
ReductionOfMangementFees
40000 USD
CY2013Q4 two Restricted Cash And Cash Equivalents Held By Broker Counterparties For Derivatives Trading Activity
RestrictedCashAndCashEquivalentsHeldByBrokerCounterpartiesForDerivativesTradingActivity
191107000 USD
CY2014Q2 two Restricted Cash And Cash Equivalents Held By Broker Counterparties For Derivatives Trading Activity
RestrictedCashAndCashEquivalentsHeldByBrokerCounterpartiesForDerivativesTradingActivity
215037000 USD
CY2013Q4 two Restricted Cash And Cash Equivalents Held By Broker Counterparties For Securities Trading Activity
RestrictedCashAndCashEquivalentsHeldByBrokerCounterpartiesForSecuritiesTradingActivity
9000000 USD
CY2014Q2 two Restricted Cash And Cash Equivalents Held By Broker Counterparties For Securities Trading Activity
RestrictedCashAndCashEquivalentsHeldByBrokerCounterpartiesForSecuritiesTradingActivity
9000000 USD
CY2013Q4 two Restricted Cashand Cash Equivalents Heldby Broker Counterpartiesor Pledgedas Collateralfor Borrowings
RestrictedCashandCashEquivalentsHeldbyBrokerCounterpartiesorPledgedasCollateralforBorrowings
401301000 USD
CY2014Q2 two Restricted Cashand Cash Equivalents Heldby Broker Counterpartiesor Pledgedas Collateralfor Borrowings
RestrictedCashandCashEquivalentsHeldbyBrokerCounterpartiesorPledgedasCollateralforBorrowings
286619000 USD
CY2014Q2 two Restricted Cashand Cash Equivalents Pledgedas Restricted Collateralfor Borrowings
RestrictedCashandCashEquivalentsPledgedasRestrictedCollateralforBorrowings
62582000 USD
CY2013Q4 two Restricted Cashand Cash Equivalents Pledgedas Restricted Collateralfor Borrowings
RestrictedCashandCashEquivalentsPledgedasRestrictedCollateralforBorrowings
201194000 USD
CY2013Q4 two Retained Earnings
RetainedEarnings
1028397000 USD
CY2014Q2 two Retained Earnings
RetainedEarnings
1038909000 USD
CY2014Q2 two Securities Sold Under Agreements To Repuchase Long Term
SecuritiesSoldUnderAgreementsToRepuchaseLongTerm
93220000 USD
CY2013Q4 two Securities Sold Under Agreements To Repuchase Long Term
SecuritiesSoldUnderAgreementsToRepuchaseLongTerm
200000000 USD
CY2013Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
44262605000 USD
CY2014Q2 two Securities Sold Under Agreements To Repurchase Short Term
SecuritiesSoldUnderAgreementsToRepurchaseShortTerm
11297967000 USD
CY2013Q4 two Securities Sold Under Agreements To Repurchase Short Term
SecuritiesSoldUnderAgreementsToRepurchaseShortTerm
12050450000 USD
CY2013Q2 two Securitization Deal Costs
SecuritizationDealCosts
0 USD
two Securitization Deal Costs
SecuritizationDealCosts
0 USD
two Securitization Deal Costs
SecuritizationDealCosts
2028000 USD
CY2014Q2 two Securitization Deal Costs
SecuritizationDealCosts
0 USD
CY2013Q2 two Servicing Assetat Fair Value Total Changesin Fair Value
ServicingAssetatFairValueTotalChangesinFairValue
-45000 USD
two Servicing Assetat Fair Value Total Changesin Fair Value
ServicingAssetatFairValueTotalChangesinFairValue
-45000 USD
two Servicing Assetat Fair Value Total Changesin Fair Value
ServicingAssetatFairValueTotalChangesinFairValue
-62331000 USD
CY2014Q2 two Servicing Assetat Fair Value Total Changesin Fair Value
ServicingAssetatFairValueTotalChangesinFairValue
-29571000 USD
CY2014Q2 two Stock Issued And Outstanding Shares At Market Offering
StockIssuedAndOutstandingSharesAtMarketOffering
7585869 shares
CY2014Q2 two Stock Issued And Outstanding Shares Dividend Reinvestment Plan
StockIssuedAndOutstandingSharesDividendReinvestmentPlan
179722 shares
CY2014Q2 two Stock Issued And Outstanding Value At Market Offering
StockIssuedAndOutstandingValueAtMarketOffering
77603000 USD
CY2014Q2 two Stock Issued And Outstanding Value Dividend Reinvestment Plan
StockIssuedAndOutstandingValueDividendReinvestmentPlan
1922000 USD
CY2013 two Stock Issued During Period Shares Cashless Exercise Of Warrant
StockIssuedDuringPeriodSharesCashlessExerciseOfWarrant
6351 shares
CY2013 two Stock Issued During Period Shares Cashless Exercise Of Warrants Forfeited
StockIssuedDuringPeriodSharesCashlessExerciseOfWarrantsForfeited
93649 shares
CY2012 two Stock Repurchase Program Number Of Additional Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfAdditionalSharesAuthorizedToBeRepurchased
15000000 shares
CY2014Q2 two Stock Repurchase Program Numberof Shares Repurchasedto Date
StockRepurchaseProgramNumberofSharesRepurchasedtoDate
2450700 shares
CY2014Q2 two Stock Repurchase Program Valueof Shares Repurchasedto Date
StockRepurchaseProgramValueofSharesRepurchasedtoDate
23894000 USD
CY2014Q2 two Subservicing Expense
SubservicingExpense
6229000 USD
two Subservicing Expense
SubservicingExpense
338000 USD
two Subservicing Expense
SubservicingExpense
11454000 USD
CY2013Q2 two Subservicing Expense
SubservicingExpense
307000 USD
two Trading Securities Amortized Cost Sold
TradingSecuritiesAmortizedCostSold
143023000 USD
CY2014Q2 two Trading Securities Amortized Cost Sold
TradingSecuritiesAmortizedCostSold
44803000 USD
CY2014Q2 two Trading Securities Categorized As Level1 Assets
TradingSecuritiesCategorizedAsLevel1Assets
1.00
CY2014Q2 two Trading Securities Gross Unrealized Gain Loss
TradingSecuritiesGrossUnrealizedGainLoss
5571000 USD
CY2013Q4 two Trading Securities Gross Unrealized Gain Loss
TradingSecuritiesGrossUnrealizedGainLoss
4059000 USD
two Unrealized Gainon Interest Rate Swapsand Swaptions
UnrealizedGainonInterestRateSwapsandSwaptions
374884000 USD
two Unrealized Gainon Interest Rate Swapsand Swaptions
UnrealizedGainonInterestRateSwapsandSwaptions
-182420000 USD
two Warrants Exercised During Period
WarrantsExercisedDuringPeriod
1130460 shares
CY2013Q2 two Warrants Exercised During Period
WarrantsExercisedDuringPeriod
8720690 shares
CY2013Q4 two Warrants Expired During Period
WarrantsExpiredDuringPeriod
3580279 shares
CY2013Q2 two Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
365199790 shares
two Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
335395275 shares
two Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
363996652 shares
CY2014Q2 two Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
364078669 shares
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001465740
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
366121400 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
22377656000 USD
CY2014Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
43379217000 USD
CY2014Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
43576146000 USD
CY2013Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
27041328000 USD

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