2014 Q4 Form 10-Q Financial Statement

#000146574014000068 Filed on November 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $156.2M $142.3M $138.0M
YoY Change 13.65% 3.14% 9.24%
Cost Of Revenue $46.60M $52.80M $40.00M
YoY Change 11.48% 32.0% 34.68%
Gross Profit -$33.60M $201.2M -$160.7M
YoY Change -113.04% -225.2% -266.36%
Gross Profit Margin -21.51% 141.39% -116.47%
Selling, General & Admin $12.40M $9.200M
YoY Change 34.78%
% of Gross Profit 6.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $300.0K $304.0K $169.0K
YoY Change -76.92% 79.88% 212.96%
% of Gross Profit 0.15%
Operating Expenses $14.90M $12.50M $10.02M
YoY Change 20.16% 24.79% 153.34%
Operating Profit -$48.50M $188.7M -$170.7M
YoY Change -119.77% -210.53% -284.27%
Interest Expense $31.70M $24.72M $24.93M
YoY Change 17.76% -0.84% 20.17%
% of Operating Profit 13.1%
Other Income/Expense, Net -$143.2M $111.7M
YoY Change
Pretax Income -$48.70M $188.7M -$169.9M
YoY Change -119.85% -211.1% -884.92%
Income Tax -$11.72M -$4.858M $23.73M
% Of Pretax Income -2.57%
Net Earnings -$37.00M $193.6M -$192.7M
YoY Change -115.46% -200.47% -819.03%
Net Earnings / Revenue -23.68% 136.05% -139.66%
Basic Earnings Per Share -$0.10 $0.53 -$0.53
Diluted Earnings Per Share -$0.10 $0.53 -$0.53
COMMON SHARES
Basic Shares Outstanding 366.1M shares 364.3M shares 365.1M shares
Diluted Shares Outstanding 366.1M shares 365.2M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.006B $1.225B $723.0M
YoY Change -1.85% 69.43% -13.31%
Cash & Equivalents $1.006B $1.225B $723.2M
Short-Term Investments
Other Short-Term Assets $2.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Inventory
Prepaid Expenses
Receivables $66.00M $53.00M
Other Receivables $48.00M $36.00M
Total Short-Term Assets $1.122B $1.315B $821.0M
YoY Change 1.54% 60.17% -5.52%
LONG-TERM ASSETS
Property, Plant & Equipment $2.908M $2.893M $1.398M
YoY Change 103.78% 106.94% 145.69%
Goodwill
YoY Change
Intangibles $0.00 $0.00 $1.600M
YoY Change -100.0% -100.0%
Long-Term Investments $19.07B $17.07B $15.04B
YoY Change 26.25% 13.49% -7.05%
Other Assets $378.0M $337.0M $678.0M
YoY Change -5.97% -50.29% 147.45%
Total Long-Term Assets $19.96B $17.84B $16.33B
YoY Change 24.23% 9.22% -3.9%
TOTAL ASSETS
Total Short-Term Assets $1.122B $1.315B $821.0M
Total Long-Term Assets $19.96B $17.84B $16.33B
Total Assets $21.08B $19.15B $17.15B
YoY Change 22.77% 11.66% -3.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $29.82M $28.20M $17.33M
YoY Change 48.91% 62.74% -42.23%
Deferred Revenue
YoY Change
Short-Term Debt $12.93B $12.28B $12.15B
YoY Change 5.57% 1.01% -13.41%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.21B $12.58B $12.62B
YoY Change 4.73% -0.32% -11.98%
LONG-TERM LIABILITIES
Long-Term Debt $3.710B $2.439B $649.0M
YoY Change 479.69% 275.81%
Other Long-Term Liabilities $100.0M $17.00M $79.00M
YoY Change 244.83% -78.48% -40.15%
Total Long-Term Liabilities $3.810B $2.456B $728.0M
YoY Change 469.51% 237.36% 451.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.21B $12.58B $12.62B
Total Long-Term Liabilities $3.810B $2.456B $728.0M
Total Liabilities $17.02B $15.04B $13.38B
YoY Change 27.76% 12.37% -7.55%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.664M $3.661M $3.644M
YoY Change 0.41% 0.47% 23.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.068B $4.118B $3.773B
YoY Change
Total Liabilities & Shareholders Equity $21.08B $19.15B $17.15B
YoY Change 22.77% 11.66% -3.98%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$37.00M $193.6M -$192.7M
YoY Change -115.46% -200.47% -819.03%
Depreciation, Depletion And Amortization $300.0K $304.0K $169.0K
YoY Change -76.92% 79.88% 212.96%
Cash From Operating Activities -$471.2M -$546.1M $179.8M
YoY Change -1073.55% -403.73% 131.11%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.570B -$581.3M $2.622B
YoY Change -537.56% -122.17% -164.9%
Cash From Investing Activities -$1.570B -$581.3M $2.622B
YoY Change -537.56% -122.17% -164.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $774.0M
YoY Change 28.94%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.822B 1.170B -2.996B
YoY Change -1835.43% -139.05% -169.68%
NET CHANGE
Cash From Operating Activities -471.2M -546.1M 179.8M
Cash From Investing Activities -1.570B -581.3M 2.622B
Cash From Financing Activities 1.822B 1.170B -2.996B
Net Change In Cash -219.4M 42.60M -194.1M
YoY Change -172.58% -121.95% -157.61%
FREE CASH FLOW
Cash From Operating Activities -$471.2M -$546.1M $179.8M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2014Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
6056000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-12345000 USD
CY2013Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
20434000 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
66055000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
4597 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0.00
us-gaap Interest Expense Long Term Debt
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6112000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
-9.79
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1057304 shares
CY2013Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
871000 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
3126000 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
0 USD
CY2014Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
0 USD
CY2014Q3 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
0 USD
us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
3126000 USD
us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
0 USD
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
871000 USD
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
0 USD
CY2014Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
0 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
0 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
-138000 USD
CY2014Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
CY2013Q3 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
CY2014Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2014-04-21
CY2014Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2014-07-22
CY2013Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2013-10-23
CY2013Q4 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2013-12-31
CY2014Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2014-10-21
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
285566000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
332224000 USD
us-gaap Dividends Common Stock Paidinkind
DividendsCommonStockPaidinkind
343481000 USD
CY2013Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0 USD
CY2014Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
95205000 USD
CY2013Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
102022000 USD
CY2013Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2013-09-11
CY2014Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2014-09-16
CY2014Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2014-03-17
CY2013Q4 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2013-12-17
CY2014Q2 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2014-06-17
CY2013Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2013-12-27
CY2014Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2014-07-02
CY2013Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2013-09-26
CY2014Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2014-09-30
CY2014Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2014-03-31
CY2013Q4 us-gaap Due From Correspondent Brokers
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25087000 USD
us-gaap Loans Receivable Held For Sale Reconciliation To Cash Flow Period Increase Decrease
LoansReceivableHeldForSaleReconciliationToCashFlowPeriodIncreaseDecrease
6128000 USD
CY2014Q3 us-gaap Due From Correspondent Brokers
DueFromCorrespondentBrokers
23341000 USD
CY2013Q4 us-gaap Due To Correspondent Brokers
DueToCorrespondentBrokers
318848000 USD
CY2014Q3 us-gaap Due To Correspondent Brokers
DueToCorrespondentBrokers
167444000 USD
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.98
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.53
us-gaap Fair Value Inputs Discount Rate
FairValueInputsDiscountRate
0.095
CY2013 us-gaap Fair Value Inputs Discount Rate
FairValueInputsDiscountRate
0.090
CY2013 us-gaap Fair Value Inputs Prepayment Rate
FairValueInputsPrepaymentRate
0.095
us-gaap Fair Value Inputs Prepayment Rate
FairValueInputsPrepaymentRate
0.107
us-gaap Fair Value Inputs Probability Of Default
FairValueInputsProbabilityOfDefault
0.045
CY2013 us-gaap Fair Value Inputs Probability Of Default
FairValueInputsProbabilityOfDefault
0.040
us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
16621000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1155342 shares
CY2013Q3 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
155197000 USD
us-gaap Fair Value Measurements Valuation Processes Description
FairValueMeasurementsValuationProcessesDescription
Discounted cash flow
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
43983000 USD
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
40186000 USD
CY2014Q3 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
5973000 USD
CY2013Q3 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
16152000 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
770000 USD
CY2014Q3 us-gaap Fair Value Option Credit Risk Gains Losses On Assets
FairValueOptionCreditRiskGainsLossesOnAssets
-299000 USD
CY2013Q3 us-gaap Fair Value Option Credit Risk Gains Losses On Assets
FairValueOptionCreditRiskGainsLossesOnAssets
0 USD
CY2014Q3 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Amount Of Available Unused Funds
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds
1000000000 USD
CY2014Q3 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
1694277000 USD
CY2014Q3 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
1466262000 USD
CY2013Q4 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
10000 USD
CY2014Q3 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
60010000 USD
CY2013Q3 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-55410000 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-193028000 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
223388000 USD
CY2014Q3 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
28519000 USD
us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
58504000 USD
us-gaap Gain Loss On Investments Excluding Other Than Temporary Impairments
GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments
-152458000 USD
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
110029000 USD
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-86237000 USD
CY2014Q3 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-49047000 USD
us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
18940000 USD
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11330000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
37051000 USD
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7754000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
20038000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
188732000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-169873000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
414170000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
142082000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-193599000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
193590000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
204102000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
336361000 USD
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.56
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.53
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.97
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.53
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.53
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.56
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.53
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.97
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
3264000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
871000 USD
CY2014Q3 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
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2013Q3 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
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2014Q3 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 Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23726000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
77809000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4858000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
3905000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
-4254000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
2356000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-430000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
13912000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
65496000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-75384000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-4323000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
0 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-3278000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-5353000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
0 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3306000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
10885000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-29687000 USD
us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
-135162000 USD
us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
-149658000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1481000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
602000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-91226000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
376006000 USD
CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
533000 USD
CY2014Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
0 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
418134000 USD
CY2014Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
142303000 USD
CY2013Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
137974000 USD
us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
420987000 USD
CY2013Q3 us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
121303000 USD
CY2014Q3 us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
123056000 USD
us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
386246000 USD
us-gaap Interest And Dividend Income Securities Available For Sale
InterestAndDividendIncomeSecuritiesAvailableForSale
374574000 USD
us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
8174000 USD
us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
4034000 USD
CY2014Q3 us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
4308000 USD
CY2013Q3 us-gaap Interest And Dividend Income Securities Trading Or Measured At Fair Value
InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue
1509000 USD
CY2014Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
9526000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
11672000 USD
CY2013Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
5649000 USD
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
25180000 USD
CY2013Q3 us-gaap Interest And Fee Income Loans Held For Sale Mortgages
InterestAndFeeIncomeLoansHeldForSaleMortgages
9297000 USD
CY2014Q3 us-gaap Interest And Fee Income Loans Held For Sale Mortgages
InterestAndFeeIncomeLoansHeldForSaleMortgages
5268000 USD
us-gaap Interest And Fee Income Loans Held For Sale Mortgages
InterestAndFeeIncomeLoansHeldForSaleMortgages
12553000 USD
us-gaap Interest And Fee Income Loans Held For Sale Mortgages
InterestAndFeeIncomeLoansHeldForSaleMortgages
15409000 USD
CY2013Q3 us-gaap Interest Expense
InterestExpense
24927000 USD
us-gaap Interest Expense
InterestExpense
75746000 USD
CY2014Q3 us-gaap Interest Expense
InterestExpense
24718000 USD
us-gaap Interest Expense
InterestExpense
73485000 USD
us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
0 USD
CY2013Q3 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
0 USD
CY2014Q3 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
1531000 USD
us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
2439000 USD
CY2013Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
3125000 USD
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
16623000 USD
CY2014Q3 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
5678000 USD
CY2014Q3 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
17509000 USD
CY2013Q3 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
21802000 USD
us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
56684000 USD
us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
67373000 USD
CY2013Q3 us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
216000 USD
CY2014Q3 us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
145000 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
506000 USD
us-gaap Interest Income Domestic Deposits
InterestIncomeDomesticDeposits
773000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
344649000 USD
CY2013Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
113047000 USD
CY2014Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
117585000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
345241000 USD
us-gaap Interest Paid
InterestPaid
81100000 USD
us-gaap Interest Paid
InterestPaid
76762000 USD
CY2014Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
14924000 USD
CY2013Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
20277000 USD
CY2013Q4 us-gaap Interest Receivable
InterestReceivable
50303000 USD
CY2014Q3 us-gaap Interest Receivable
InterestReceivable
52605000 USD
CY2014Q3 us-gaap Liabilities
Liabilities
15036726000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
13318867000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
17173862000 USD
CY2014Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
19154825000 USD
CY2014Q3 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
445065000 USD
CY2013Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
544581000 USD
CY2012Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
58607000 USD
CY2013Q3 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
559737000 USD
CY2014Q3 us-gaap Loans And Leases Receivable Net Reported Amount Other
LoansAndLeasesReceivableNetReportedAmountOther
1428890000 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
CY2014Q3 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
407793000 USD
us-gaap Loans Receivable Held For Sale Reconciliation To Cash Flow Additions To Held For Sale
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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 nine 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;">September&#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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9.81
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us-gaap Repayments Of Debt
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us-gaap Repayments Of Long Term Debt
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30574000 USD
us-gaap Repayments Of Long Term Debt
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43430377000 USD
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46340802000 USD
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 Discount Rate
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CY2014Q3 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 Discount Rate
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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 Other Assumption
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CY2014Q3 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 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 Of10 Percent Adverse Change In Prepayment Speed
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CY2014Q3 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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CY2014Q3 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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CY2014Q3 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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CY2014Q3 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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7542000 USD
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13390000 USD
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498466000 USD
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1452000 USD
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3964000 USD
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0 USD
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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0 USD
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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816000 USD
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1144000 USD
us-gaap Servicing Asset At Fair Value Other Changes That Affect Balance
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25325 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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1024459 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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10.36
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11.23
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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CY2013Q3 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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12085 shares
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
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53749 shares
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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102276000 USD
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us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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628000 USD
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120000 USD
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10000000 shares
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25000000 shares
us-gaap Stock Repurchased During Period Shares
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us-gaap Trading Gains Losses
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3047000 USD
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3047000 USD
us-gaap Trading Securities Unrealized Holding Gain Loss
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us-gaap Trading Securities Unrealized Holding Gain Loss
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CY2014Q3 us-gaap Trading Securities Unrealized Holding Gain Loss
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CY2013Q3 us-gaap Trading Securities Unrealized Holding Gain Loss
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us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
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us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
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us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Unrealized Gain Loss On Derivatives
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CY2014Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
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CY2014Q3 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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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2013Q3 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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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014Q3 two Assets Reported At Fair Value Trading Securities
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0.0075
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AssetsSoldUnderAgreementsToRepurchaseWeightedAverageRemainingMaturityExcludingUSTreasuriesAndInterestRateSwaps
72
CY2014Q3 two Assets Sold Under Agreements To Repurchase Weighted Average Remaining Maturity Excluding Us Treasuries And Interest Rate Swaps
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100
CY2014Q3 two At Market Offering Number Of Shares Authorized To Be Sold
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20000000 shares
CY2014Q3 two Avaialble For Sale Securities Categorized As Level2 Assets
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1.00
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3116348000 USD
two Available For Sale Securities Gross Realized Gains Losses Amortized Cost Sold
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4219860000 USD
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3304872000 USD
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1839591000 USD
CY2013Q4 two Available For Sale Securities Net Unamortized
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1431
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1423
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621279000 USD
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626470000 USD
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100000 shares
CY2014Q3 two Collateralized Borrowings In Securitization Trust Categorized As Level2 Liabilities
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1.00
CY2013Q1 two Common Stock Shares Issued Pursuant To Underwriters Over Allotments
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7500000 shares
CY2013Q4 two Continuing Involvementwith Continuedtobe Recognized Transferred Financial Assets Numberof Loans
ContinuingInvolvementwithContinuedtobeRecognizedTransferredFinancialAssetsNumberofLoans
213868
CY2014Q3 two Continuing Involvementwith Continuedtobe Recognized Transferred Financial Assets Numberof Loans
ContinuingInvolvementwithContinuedtobeRecognizedTransferredFinancialAssetsNumberofLoans
227693
two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
46500488000 USD
two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
32030322000 USD
CY2014Q3 two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
55307546000 USD
CY2013Q3 two Derivative Average Notional Amount
DerivativeAverageNotionalAmount
39914904000 USD
two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
44297444000 USD
two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
68977405000 USD
CY2013Q3 two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
5883999000 USD
CY2014Q3 two Derivative Notional Amount Additions
DerivativeNotionalAmountAdditions
38371670000 USD
two Derivative Notional Amount Settlement Termination Expirationor Exercise
DerivativeNotionalAmountSettlementTerminationExpirationorExercise
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two Derivative Notional Amount Settlement Termination Expirationor Exercise
DerivativeNotionalAmountSettlementTerminationExpirationorExercise
-49328034000 USD
CY2014Q3 two Derivative Notional Amount Settlement Termination Expirationor Exercise
DerivativeNotionalAmountSettlementTerminationExpirationorExercise
-24734906000 USD
CY2013Q3 two Derivative Notional Amount Settlement Termination Expirationor Exercise
DerivativeNotionalAmountSettlementTerminationExpirationorExercise
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two Directors And Officers Insurance Expense
DirectorsAndOfficersInsuranceExpense
603000 USD
two Directors And Officers Insurance Expense
DirectorsAndOfficersInsuranceExpense
728000 USD
CY2014Q3 two Directors And Officers Insurance Expense
DirectorsAndOfficersInsuranceExpense
243000 USD
CY2013Q3 two Directors And Officers Insurance Expense
DirectorsAndOfficersInsuranceExpense
201000 USD
CY2012Q4 two Discontinued Operation Future Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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4000000 USD
CY2014Q3 two Disposal Group Including Discontinued Operation Management Fees
DisposalGroupIncludingDiscontinuedOperationManagementFees
0 USD
CY2013Q3 two Disposal Group Including Discontinued Operation Management Fees
DisposalGroupIncludingDiscontinuedOperationManagementFees
0 USD
two Disposal Group Including Discontinued Operation Management Fees
DisposalGroupIncludingDiscontinuedOperationManagementFees
0 USD
two Disposal Group Including Discontinued Operation Management Fees
DisposalGroupIncludingDiscontinuedOperationManagementFees
0 USD
two Disposal Group Including Discontinued Operation Real Estate Related Expenses
DisposalGroupIncludingDiscontinuedOperationRealEstateRelatedExpenses
0 USD
CY2014Q3 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
CY2013Q3 two Disposal Group Including Discontinued Operation Real Estate Related Expenses
DisposalGroupIncludingDiscontinuedOperationRealEstateRelatedExpenses
0 USD
two Disposal Group Including Discontinued Operation Total Expenses
DisposalGroupIncludingDiscontinuedOperationTotalExpenses
-138000 USD
CY2014Q3 two Disposal Group Including Discontinued Operation Total Expenses
DisposalGroupIncludingDiscontinuedOperationTotalExpenses
0 USD
two Disposal Group Including Discontinued Operation Total Expenses
DisposalGroupIncludingDiscontinuedOperationTotalExpenses
0 USD
CY2013Q3 two Disposal Group Including Discontinued Operation Total Expenses
DisposalGroupIncludingDiscontinuedOperationTotalExpenses
0 USD
two Distribution Of Special Dividend
DistributionOfSpecialDividend
0 USD
two Distribution Of Special Dividend
DistributionOfSpecialDividend
343481000 USD
CY2013Q2 two Distribution Ratio Of Special Dividend Declared
DistributionRatioOfSpecialDividendDeclared
0.048825853
CY2012Q4 two Equity Securities Shares
EquitySecuritiesShares
17824647 shares
CY2014Q3 two Forward Purchase Commitments Categorizedas Level2 Assets Liabilities
ForwardPurchaseCommitmentsCategorizedasLevel2AssetsLiabilities
1.00
two Gain Losson Mortgage Loans Heldfor Sale
GainLossonMortgageLoansHeldforSale
6233000 USD
CY2014Q3 two Gain Losson Mortgage Loans Heldfor Sale
GainLossonMortgageLoansHeldforSale
-2387000 USD
two Gain Losson Mortgage Loans Heldfor Sale
GainLossonMortgageLoansHeldforSale
-25262000 USD
CY2013Q3 two Gain Losson Mortgage Loans Heldfor Sale
GainLossonMortgageLoansHeldforSale
-4443000 USD
two Gainon Terminationof Interest Rate Swapsand Swaptions
GainonTerminationofInterestRateSwapsandSwaptions
-51712000 USD
two Gainon Terminationof Interest Rate Swapsand Swaptions
GainonTerminationofInterestRateSwapsandSwaptions
-21904000 USD
two Gross Asset Management Costs Before Reduction
GrossAssetManagementCostsBeforeReduction
33727000 USD
CY2014Q3 two Gross Asset Management Costs Before Reduction
GrossAssetManagementCostsBeforeReduction
12258000 USD
two Gross Asset Management Costs Before Reduction
GrossAssetManagementCostsBeforeReduction
36559000 USD
CY2013Q3 two Gross Asset Management Costs Before Reduction
GrossAssetManagementCostsBeforeReduction
12036000 USD
two Increase Decreasein Servicing Advances
IncreaseDecreaseinServicingAdvances
5368000 USD
two Increase Decreasein Servicing Advances
IncreaseDecreaseinServicingAdvances
12485000 USD
CY2014Q3 two Interest Rate Swaps Swaptions And Credit Default Swaps Categorized As Level2 Assets Liabilities
InterestRateSwapsSwaptionsAndCreditDefaultSwapsCategorizedAsLevel2AssetsLiabilities
1.00
CY2014Q3 two Inverse Interest Only Securities Categorized As Level2 Assets
InverseInterestOnlySecuritiesCategorizedAsLevel2Assets
1.00
CY2014Q3 two Loans Held For Sale Mortgages Fair Value Adjustment
LoansHeldForSaleMortgagesFairValueAdjustment
-627000 USD
CY2013Q4 two Loans Held For Sale Mortgages Fair Value Adjustment
LoansHeldForSaleMortgagesFairValueAdjustment
-136259000 USD
CY2014Q3 two Loans Held For Sale Mortgages Unpaid Principal
LoansHeldForSaleMortgagesUnpaidPrincipal
445692000 USD
CY2013Q4 two Loans Held For Sale Mortgages Unpaid Principal
LoansHeldForSaleMortgagesUnpaidPrincipal
680840000 USD
two Loans Receivable Heldforsale Reconciliationto Cash Flow Sales
LoansReceivableHeldforsaleReconciliationtoCashFlowSales
415889000 USD
two Loans Receivable Heldforsale Reconciliationto Cash Flow Sales
LoansReceivableHeldforsaleReconciliationtoCashFlowSales
25404000 USD
two Loans Receivable Heldforsale Reconciliationto Cash Flow Transfersto Heldforinvestment
LoansReceivableHeldforsaleReconciliationtoCashFlowTransferstoHeldforinvestment
-656581000 USD
two Loans Receivable Heldforsale Reconciliationto Cash Flow Transfersto Heldforinvestment
LoansReceivableHeldforsaleReconciliationtoCashFlowTransferstoHeldforinvestment
-413848000 USD
two Management Fee Percent
ManagementFeePercent
0.015
CY2013Q4 two Mortgage Loans Held For Invesment Unpaid Principal
MortgageLoansHeldForInvesmentUnpaidPrincipal
812538000 USD
CY2014Q3 two Mortgage Loans Held For Invesment Unpaid Principal
MortgageLoansHeldForInvesmentUnpaidPrincipal
1402782000 USD
CY2014Q3 two Mortgage Loans Held For Investment Categorized As Level2 Assets
MortgageLoansHeldForInvestmentCategorizedAsLevel2Assets
1.00
CY2014Q3 two Mortgage Loans Held For Investment Fair Value Adjustment
MortgageLoansHeldForInvestmentFairValueAdjustment
26108000 USD
CY2013Q4 two Mortgage Loans Held For Investment Fair Value Adjustment
MortgageLoansHeldForInvestmentFairValueAdjustment
-20148000 USD
CY2014Q3 two Mortgage Loans Held For Sale Categorized As Level2 Assets
MortgageLoansHeldForSaleCategorizedAsLevel2Assets
0.941
CY2014Q3 two Mortgage Loans Held For Sale Categorized As Level3 Assets
MortgageLoansHeldForSaleCategorizedAsLevel3Assets
0.059
CY2014Q3 two Mortgage Servicing Rights Categorized As Level3 Assets
MortgageServicingRightsCategorizedAsLevel3Assets
1.00
two Other Than Temporary Impairment Losses Investments Number Available For Sale Securities
OtherThanTemporaryImpairmentLossesInvestmentsNumberAvailableForSaleSecurities
3
two Other Than Temporary Impairment Losses Investments Number Available For Sale Securities
OtherThanTemporaryImpairmentLossesInvestmentsNumberAvailableForSaleSecurities
4
CY2014Q3 two Otherthan Temporary Impairment Losses Investments Availableforsale Securities Market Value
OtherthanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecuritiesMarketValue
162619000 USD
two Otherthan Temporary Impairment Losses Investments Availableforsale Securities Portion Recognizedin Earnings Net Qualitative Disclosures Weighted Average Cumulative Losses
OtherthanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecuritiesPortionRecognizedinEarningsNetQualitativeDisclosuresWeightedAverageCumulativeLosses
0.106
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
0.038
two Paymentsto Acquire Trading Securities
PaymentstoAcquireTradingSecurities
2138647000 USD
two Paymentsto Acquire Trading Securities
PaymentstoAcquireTradingSecurities
995625000 USD
CY2013Q1 two Proceeds From Issuance Of Common Stock Net
ProceedsFromIssuanceOfCommonStockNet
762900000 USD
two Proceedsfrom Salesof Trading Securities
ProceedsfromSalesofTradingSecurities
1000946000 USD
two Proceedsfrom Salesof Trading Securities
ProceedsfromSalesofTradingSecurities
1145410000 USD
CY2014Q3 two Proceedsfrom Salesof Trading Securities
ProceedsfromSalesofTradingSecurities
1002031000 USD
CY2013Q3 two Proceedsfrom Salesof Trading Securities
ProceedsfromSalesofTradingSecurities
1000946000 USD
CY2012Q4 two Reduction Of Future Management Fees
ReductionOfFutureManagementFees
4300000 USD
two Reduction Of Mangement Fees
ReductionOfMangementFees
4340000 USD
CY2013Q4 two Restricted Cash And Cash Equivalents Held By Broker Counterparties For Derivatives Trading Activity
RestrictedCashAndCashEquivalentsHeldByBrokerCounterpartiesForDerivativesTradingActivity
191107000 USD
CY2014Q3 two Restricted Cash And Cash Equivalents Held By Broker Counterparties For Derivatives Trading Activity
RestrictedCashAndCashEquivalentsHeldByBrokerCounterpartiesForDerivativesTradingActivity
207780000 USD
CY2013Q4 two Restricted Cash And Cash Equivalents Held By Broker Counterparties For Securities Trading Activity
RestrictedCashAndCashEquivalentsHeldByBrokerCounterpartiesForSecuritiesTradingActivity
9000000 USD
CY2014Q3 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
CY2014Q3 two Restricted Cashand Cash Equivalents Heldby Broker Counterpartiesor Pledgedas Collateralfor Borrowings
RestrictedCashandCashEquivalentsHeldbyBrokerCounterpartiesorPledgedasCollateralforBorrowings
310075000 USD
CY2014Q3 two Restricted Cashand Cash Equivalents Pledgedas Restricted Collateralfor Borrowings
RestrictedCashandCashEquivalentsPledgedasRestrictedCollateralforBorrowings
93295000 USD
CY2013Q4 two Restricted Cashand Cash Equivalents Pledgedas Restricted Collateralfor Borrowings
RestrictedCashandCashEquivalentsPledgedasRestrictedCollateralforBorrowings
201194000 USD
CY2013Q4 two Retained Earnings
RetainedEarnings
1028397000 USD
CY2014Q3 two Retained Earnings
RetainedEarnings
1232499000 USD
CY2014Q3 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
CY2014Q3 two Securities Sold Under Agreements To Repurchase Short Term
SecuritiesSoldUnderAgreementsToRepurchaseShortTerm
12181658000 USD
CY2013Q4 two Securities Sold Under Agreements To Repurchase Short Term
SecuritiesSoldUnderAgreementsToRepurchaseShortTerm
12050450000 USD
CY2013Q3 two Securitization Deal Costs
SecuritizationDealCosts
2125000 USD
two Securitization Deal Costs
SecuritizationDealCosts
3355000 USD
two Securitization Deal Costs
SecuritizationDealCosts
4153000 USD
CY2014Q3 two Securitization Deal Costs
SecuritizationDealCosts
3355000 USD
CY2013Q3 two Servicing Assetat Fair Value Total Changesin Fair Value
ServicingAssetatFairValueTotalChangesinFairValue
861000 USD
two Servicing Assetat Fair Value Total Changesin Fair Value
ServicingAssetatFairValueTotalChangesinFairValue
816000 USD
two Servicing Assetat Fair Value Total Changesin Fair Value
ServicingAssetatFairValueTotalChangesinFairValue
-73042000 USD
CY2014Q3 two Servicing Assetat Fair Value Total Changesin Fair Value
ServicingAssetatFairValueTotalChangesinFairValue
-10711000 USD
CY2014Q3 two Stock Issued And Outstanding Shares At Market Offering
StockIssuedAndOutstandingSharesAtMarketOffering
7585869 shares
CY2014Q3 two Stock Issued And Outstanding Shares Dividend Reinvestment Plan
StockIssuedAndOutstandingSharesDividendReinvestmentPlan
194990 shares
CY2014Q3 two Stock Issued And Outstanding Value At Market Offering
StockIssuedAndOutstandingValueAtMarketOffering
77603000 USD
CY2014Q3 two Stock Issued And Outstanding Value Dividend Reinvestment Plan
StockIssuedAndOutstandingValueDividendReinvestmentPlan
2080000 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
CY2014Q3 two Stock Repurchase Program Numberof Shares Repurchasedto Date
StockRepurchaseProgramNumberofSharesRepurchasedtoDate
2450700 shares
CY2014Q3 two Stock Repurchase Program Valueof Shares Repurchasedto Date
StockRepurchaseProgramValueofSharesRepurchasedtoDate
23894000 USD
CY2014Q3 two Subservicing Expense
SubservicingExpense
12513000 USD
two Subservicing Expense
SubservicingExpense
1200000 USD
two Subservicing Expense
SubservicingExpense
24595000 USD
CY2013Q3 two Subservicing Expense
SubservicingExpense
862000 USD
two Trading Securities Amortized Cost Sold
TradingSecuritiesAmortizedCostSold
1139932000 USD
two Trading Securities Amortized Cost Sold
TradingSecuritiesAmortizedCostSold
997899000 USD
CY2014Q3 two Trading Securities Amortized Cost Sold
TradingSecuritiesAmortizedCostSold
996908000 USD
CY2013Q3 two Trading Securities Amortized Cost Sold
TradingSecuritiesAmortizedCostSold
997899000 USD
CY2014Q3 two Trading Securities Categorized As Level1 Assets
TradingSecuritiesCategorizedAsLevel1Assets
1.00
CY2013Q4 two Trading Securities Gross Unrealized Gain Loss
TradingSecuritiesGrossUnrealizedGainLoss
4059000 USD
CY2014Q3 two Trading Securities Gross Unrealized Gain Loss
TradingSecuritiesGrossUnrealizedGainLoss
-2801000 USD
two Unrealized Gainon Interest Rate Swapsand Swaptions
UnrealizedGainonInterestRateSwapsandSwaptions
-81805000 USD
two Unrealized Gainon Interest Rate Swapsand Swaptions
UnrealizedGainonInterestRateSwapsandSwaptions
293783000 USD
CY2013Q2 two Warrants Exercised During Period
WarrantsExercisedDuringPeriod
8720690 shares
two Warrants Exercised During Period
WarrantsExercisedDuringPeriod
1130460 shares
CY2013Q4 two Warrants Expired During Period
WarrantsExpiredDuringPeriod
3580279 shares
CY2013Q3 two Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
364032788 shares
two Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
345046012 shares
two Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
364112043 shares
CY2014Q3 two Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
364339061 shares
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001465740
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
366117954 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
TWO HARBORS INVESTMENT CORP.
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
37366610000 USD
CY2013Q3 invest Derivative Notional Amount
DerivativeNotionalAmount
36472401000 USD
CY2012Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
22377656000 USD
CY2014Q3 invest Derivative Notional Amount
DerivativeNotionalAmount
57015981000 USD
CY2014Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
43379217000 USD
CY2013Q2 invest Derivative Notional Amount
DerivativeNotionalAmount
44262605000 USD

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