EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

EARNINGS PER SHARE

10. EARNINGS PER SHARE

The following information sets forth the computations of basic and diluted net increase in stockholders’ equity resulting from operations per share for the three and nine months ended September 30, 2024 and 2023:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Net increase in stockholders’ equity resulting from operations—basic	$	394	$	500	$	1,165	$	1,109
Adjustment for interest expense on 2024 Convertible Notes(1)	—		4		—		13
Net increase in stockholders’ equity resulting from operations—diluted	$	394	$	504	$	1,165	$	1,122
Weighted average shares of common stock outstanding—basic	635		562		614		548
Assumed conversion of 2024 Convertible Notes(2)	—		20		—		20
Weighted average shares of common stock outstanding—diluted	635		582		614		568
Net increase in stockholders’ equity resulting from operations per share—basic	$	0.62	$	0.89	$	1.90	$	2.03
Net increase in stockholders’ equity resulting from operations per share—diluted	$	0.62	$	0.87	$	1.90	$	1.98

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(1)    Includes the impact of the income based fee.

(2)    In March 2024, in connection with the repayment of the 2024 Convertible Notes, the Company issued approximately 20 shares of common stock. See Note 5 for more information relating to the repayment of the 2024 Convertible Notes.

For the purpose of calculating diluted net increase in stockholders’ equity resulting from operations per share for the three and nine months ended September 30, 2023, the Company utilized the if-converted method which assumed full share settlement for the aggregate value of the then outstanding 2024 Convertible Notes.