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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INVESTMENT INCOME:        
PIK interest income     $ 97.0 $ 121.0
Total investment income $ 537.0 $ 442.0 1,456.0 1,291.0
EXPENSES:        
Interest and credit facility fees 120.0 94.0 314.0 267.0
Base management fees 78.0 65.0 226.0 184.0
Income based fees 63.0 53.0 171.0 158.0
Capital gains incentive fees (37.0) 30.0 (64.0) 133.0
Administrative fees 3.0 4.0 9.0 11.0
Other general and administrative 8.0 7.0 20.0 18.0
Total expenses 235.0 253.0 676.0 771.0
NET INVESTMENT INCOME BEFORE INCOME TAXES 302.0 189.0 780.0 520.0
Income tax expense, including excise tax 14.0 5.0 37.0 21.0
NET INVESTMENT INCOME 288.0 184.0 743.0 499.0
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS, FOREIGN CURRENCY AND OTHER TRANSACTIONS:        
Foreign currency and other transactions 22.0 26.0 32.0 9.0
Net realized gains 0.0 149.0 55.0 267.0
Net unrealized losses (gains) on investments, foreign currency and other transactions 29.0 (11.0) 50.0 5.0
Net unrealized gains (losses) (184.0) 1.0 (324.0) 462.0
Net realized and unrealized gains (losses) on investments, foreign currency and other transactions (184.0) 150.0 (269.0) 729.0
Realized loss on extinguishment of debt 0.0 0.0 (48.0) (43.0)
NET INCREASE IN STOCKHOLDERS’ EQUITY RESULTING FROM OPERATIONS $ 104.0 $ 334.0 $ 426.0 $ 1,185.0
NET INCOME PER COMMON SHARE (see Note 10)        
Basic (in usd per share) $ 0.21 $ 0.73 $ 0.86 $ 2.68
Diluted (in usd per share) $ 0.21 $ 0.73 $ 0.86 $ 2.68
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING (see Note 10)        
Basic (in shares) 503,000,000 453,000,000 492,000,000 441,000,000
Diluted (in shares) 523,000,000 453,000,000 512,000,000 441,000,000
Non-controlled/non-affiliate        
INVESTMENT INCOME:        
Interest income (excluding payment-in-kind (“PIK”) interest income) $ 300.0 $ 230.0 $ 786.0 $ 656.0
PIK interest income 28.0 42.0 84.0 95.0
Capital structuring service fees 26.0 53.0 81.0 179.0
Dividend income 52.0 31.0 140.0 86.0
Other income 11.0 11.0 29.0 28.0
Total investment income 417.0 367.0 1,120.0 1,044.0
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS, FOREIGN CURRENCY AND OTHER TRANSACTIONS:        
Net realized gains (losses): (51.0) 82.0 (2.0) 139.0
Net unrealized gains (losses): (225.0) 35.0 (426.0) 388.0
Non-controlled affiliate        
INVESTMENT INCOME:        
Interest income (excluding payment-in-kind (“PIK”) interest income) 2.0 2.0 5.0 5.0
PIK interest income 2.0 1.0 4.0 3.0
Dividend income 0.0 0.0 0.8 0.0
Other income 0.0 0.0 0.3 1.0
Total investment income 4.0 3.0 10.0 9.0
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS, FOREIGN CURRENCY AND OTHER TRANSACTIONS:        
Net realized gains (losses): 29.0 1.0 6.3 58.0
Net unrealized gains (losses): 30.0 6.0 61.9 13.0
Controlled affiliate        
INVESTMENT INCOME:        
Interest income (excluding payment-in-kind (“PIK”) interest income) 49.0 39.0 126.0 129.0
PIK interest income 4.0 3.0 9.0 23.0
Capital structuring service fees 6.0 6.0 13.0 11.0
Dividend income 55.0 23.0 173.0 72.0
Other income 2.0 1.0 5.1 3.0
Total investment income 116.0 72.0 326.0 238.0
REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS, FOREIGN CURRENCY AND OTHER TRANSACTIONS:        
Net realized gains (losses): 0.0 40.0 19.1 61.0
Net unrealized gains (losses): $ (18.0) $ (29.0) $ (10.4) $ 56.0