TWO HARBORS INVESTMENT CORP. (TWO) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K/A	10-K
Interest income on loans						102.9	134.0	95.7
Interest income on trading account								8.7
Total interest income	295.5	168.6	525.1	994.7	870.0	745.1	575.1	592.9
Interest on borrowings			1.7	10.9	20.4	36.9	26.1	11.9
Total interest expense	258.4	89.2	281.2	714.3	519.7	350.2	213.3	141.8
Net interest income	37.1	79.4	243.8	280.4	350.4	394.9	361.8	451.1
Gain on sale of investments, net					0.5	0.8	-1.8	-0.5
Other non-interest income	38.8	-209.2	-220.8	151.7	-38.8	-79.9	147.2	-217.3
Total non-interest income	38.8	-209.2	-220.8	151.7	-38.3	-79.1	145.3	-217.9
Pre-tax income before non-recurring items	324.5	191.4	-1,660.1	310.4	92.5	297.8	333.2	475.5
Non-recurring items			5.7		94.9		3.0
Pre-tax income	324.5	191.4	-1,665.8	310.4	-2.5	297.8	330.2	475.5
Income taxes	104.2	4.2	-35.7	-13.6	41.8	-10.5	12.3	-16.6
Tax rate	32.1%	2.2%	2.1%				3.7%
Earnings from continuing ops	186.8	128.8	-1,705.9	248.2	-109.7	279.3	317.9	492.1
Earnings from discontinued ops						44.1	35.4	0.1
Net income	186.8	128.8	-1,705.9	248.2	-109.7	323.4	353.3	492.2
Net margin	245.9%	-99.2%	-7411.0%	57.4%	-35.2%	102.4%	69.7%	211.1%

Basic EPS	$2.17	$1.73	($24.94)	$0.93	($0.53)	$1.60	$1.83	$2.69
Diluted EPS	$1.94	$1.73	($24.94)	$0.93	($0.53)	$1.48	$1.83	$2.69

Shares outstanding (basic)	86.2	74.4	68.4	267.8	206.0	174.4	174.0	182.6
Shares outstanding (diluted)	96.1	74.5	68.4	267.8	206.0	188.1	174.0	182.6

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.