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Financing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Outstanding Financing Arrangements
The following tables present summary information with respect to the Company’s outstanding financing arrangements as of December 31, 2022 and 2021:
As of December 31, 2022
ArrangementType of ArrangementRateAmount
Outstanding		Amount
Available		Maturity Date
Ambler Credit Facility(2)(9)
Revolving Credit Facility
SOFR+2.15%(1)
$131 $69 November 22, 2025
Burholme Prime Brokerage Facility(2)(9)
Prime Brokerage Facility
L+1.25%(1)
— — June 28, 2023
CCT Tokyo Funding Credit Facility(2)
Revolving Credit Facility
SOFR+1.90% - 2.05%(1)(3)
285 15 June 2, 2026
Darby Creek Credit Facility(2)(9)
Revolving Credit Facility
L+1.85%(1)
242 8 February 26, 2025
Dunlap Credit Facility(2)(9)
Revolving Credit Facility
L+1.85%(1)
472 28 February 26, 2025
Meadowbrook Run Credit Facility(2)(9)
Revolving Credit Facility
SOFR+2.05%(1)
244 56 November 22, 2024
Senior Secured Revolving Credit Facility(2)
Revolving Credit Facility
SOFR+1.75% - 1.88%(1)(4)
2,260(5)
2,383(6)
May 17, 2027
4.625% Notes due 2024(7)
Unsecured Notes4.63%400 — July 15, 2024
1.650% Notes due 2024(7)
Unsecured Notes1.65%500 — October 12, 2024
4.125% Notes due 2025(7)
Unsecured Notes4.13%470 — February 1, 2025
4.250% Notes due 2025(7)(9)
Unsecured Notes4.25%475 — February 14, 2025
8.625% Notes due 2025(7)
Unsecured Notes8.63%250 — May 15, 2025
3.400% Notes due 2026(7)
Unsecured Notes3.40%1,000 — January 15, 2026
2.625% Notes due 2027(7)
Unsecured Notes2.63%400 — January 15, 2027
3.250% Notes due 2027(7)
Unsecured Notes3.25%500 — July 15, 2027
3.125% Notes due 2028(7)
Unsecured Notes3.13%750 — October 12, 2028
CLO-1 Notes(2)(8)
Collateralized Loan Obligation
L+1.85% - 3.01%(1)
352 — January 15, 2031
Total$8,731 $2,559 
___________
(1)The benchmark rate is subject to a 0% floor.
(2)The carrying amount outstanding under the facility approximates its fair value.
(3)As of December 31, 2022, there was $200 term loan outstanding at SOFR+1.90% and $85 revolving commitment outstanding at SOFR+2.05%.
(4)The spread over the benchmark rate is determined by reference to the ratio of the value of the borrowing base to the aggregate amount of certain outstanding indebtedness of the Company. In addition to the spread over the benchmark rate, a credit spread adjustment of 0.10% and 0.0326% is applicable to borrowings in U.S. dollars and pounds sterling, respectively.
(5)Amount includes borrowing in Euros, Canadian dollars, pounds sterling and Australian dollars. Euro balance outstanding of €260 has been converted to U.S. dollars at an exchange rate of €1.00 to $1.07 as of December 31, 2022 to reflect total amount outstanding in U.S. dollars. Canadian dollar balance outstanding of CAD32 has been converted to U.S dollars at an exchange rate of CAD1.00 to $0.74 as of December 31, 2022 to reflect total amount outstanding in U.S. dollars. Pounds sterling balance outstanding of £39 has been converted to U.S dollars at an exchange rate of £1.00 to $1.21 as of December 31, 2022 to reflect total amount outstanding in U.S. dollars. Australian dollar balance outstanding of AUD112 has been converted to U.S dollars at an exchange rate of AUD1.00 to $0.68 as of December 31, 2022 to reflect total amount outstanding in U.S. dollars.
(6)The amount available for borrowing under the Senior Secured Revolving Credit Facility is reduced by any standby letters of credit issued under the Senior Secured Revolving Credit Facility. As of December 31, 2022, $12 of such letters of credit have been issued.
(7)As of December 31, 2022, the fair value of the 4.625% notes, the 1.650% notes, the 4.125% notes, the 4.250% notes, the 8.625% notes, the 3.400% notes, the 2.625% notes, the 3.250% notes and the 3.125% notes was approximately $388, $452, $442, $446, $255, $888, $334, $421 and $606, respectively. These valuations are considered Level 2 valuations within the fair value hierarchy.
(8)As of December 31, 2022, there were $281.4 of Class A-1R notes outstanding at L+1.85%, $20.5 of Class A-2R notes outstanding at L+2.25%, $32.4 of Class B-1R notes outstanding at L+2.60% and $17.4 of Class B-2R notes outstanding at 3.011%.
(9)As of June 16, 2021, the Company assumed all of FSKR’s obligations under its notes and credit facilities, and FSKR’s wholly-owned special purpose financing subsidiaries became wholly-owned special purpose financing subsidiaries of the Company, in each case, as a result of the consummation of the 2021 Merger.
As of December 31, 2021
ArrangementType of ArrangementRateAmount
Outstanding		Amount
Available		Maturity Date
Ambler Credit Facility(2)(9)
Revolving Credit Facility
SOFR+2.15%(1)
$150 $50 November 22, 2025
Burholme Prime Brokerage Facility(2)(9)
Prime Brokerage Facility
L+1.25%(1)
— — June 28, 2022
CCT Tokyo Funding Credit Facility(2)
Revolving Credit Facility
L+1.75% - 2.00%(1)(3)
300 — January 2, 2025
Darby Creek Credit Facility(2)(9)
Revolving Credit Facility
L+1.85%(1)
250 — February 26, 2025
Dunlap Credit Facility(2)(9)
Revolving Credit Facility
L+1.85%(1)
485 15 February 26, 2025
Meadowbrook Run Credit Facility(2)(9)
Revolving Credit Facility
SOFR+2.05%(1)
300 — November 22, 2024
Senior Secured Revolving Credit Facility(2)
Revolving Credit Facility
L+1.75% - 2.00%(1)(4)
SONIA+0.0326%(1)(4)
2,647(5)
1,544(6)
December 23, 2025
4.750% Notes due 2022(7)
Unsecured Notes4.75%450 — May 15, 2022
4.625% Notes due 2024(7)
Unsecured Notes4.63%400 — July 15, 2024
1.650% Notes due 2024(7)
Unsecured Notes1.65%500 — October 12, 2024
4.125% Notes due 2025(7)
Unsecured Notes4.13%470 — February 1, 2025
4.250% Notes due 2025(7)(9)
Unsecured Notes4.25%475 — February 14, 2025
8.625% Notes due 2025(7)
Unsecured Notes8.63%250 — May 15, 2025
3.400%Notes due 2026(7)
Unsecured Notes3.40%1,000 — January 15, 2026
2.625% Notes due 2027(7)
Unsecured Notes2.63%400 — January 15, 2027
3.125% Notes due 2028(7)
Unsecured Notes3.13%750 — October 12, 2028
CLO-1 Notes(2)(8)
Collateralized Loan Obligation
L+1.85% - 3.01%(1)
352 — January 15, 2031
Total$9,179 $1,609 
____________
(1)The benchmark rate is subject to a 0% floor.
(2)The carrying amount outstanding under the facility approximates its fair value.
(3)The spread over the benchmark rate is determined by reference to the amount outstanding under the facility.
(4)The spread over the benchmark rate is determined by reference to the ratio of the value of the borrowing base to the aggregate amount of certain outstanding indebtedness of the Company.
(5)Amount includes borrowing in Euros, Canadian dollars, pounds sterling and Australian dollars. Euro balance outstanding of €260 has been converted to U.S. dollars at an exchange rate of €1.00 to $1.14 as of December 31, 2021 to reflect total amount outstanding in U.S. dollars. Canadian dollar balance outstanding of CAD40 has been converted to U.S dollars at an exchange rate of CAD1.00 to $0.79 as of December 31, 2021 to reflect total amount outstanding in U.S. dollars. Pounds sterling balance outstanding of £130 has been converted to U.S dollars at an exchange rate of £1.00 to $1.35 as of December 31, 2021 to reflect total amount outstanding in U.S. dollars. Australian dollar balance outstanding of AUD116 has been converted to U.S dollars at an exchange rate of AUD1.00 to $0.73 as of December 31, 2021 to reflect total amount outstanding in U.S. dollars.
(6)The amount available for borrowing under the Senior Secured Revolving Credit Facility is reduced by any standby letters of credit issued under the Senior Secured Revolving Credit Facility. As of December 31, 2021, $9 of such letters of credit have been issued.
(7)As of December 31, 2021, the fair value of the 4.750% notes, the 4.625% notes, the 1.650% notes, the 4.125% notes, the 4.250% notes, the 8.625% notes, the 3.400% notes, the 2.625% notes, and the 3.125% notes was approximately $455, $421, $491, $492, $497, $276, $1,016 $395 and $747, respectively. These valuations are considered Level 2 valuations within the fair value hierarchy.
(8)As of December 31, 2021, there were $281.4 of Class A-1R notes outstanding at L+1.85%, $20.5 of Class A-2R notes outstanding at L+2.25%, $32.4 of Class B-1R notes outstanding at L+2.60% and $17.4 of Class B-2R notes outstanding at 3.011%.
(9)As of June 16, 2021, the Company assumed all of FSKR’s obligations under its notes and credit facilities, and FSKR’s wholly-owned special purpose financing subsidiaries became wholly-owned special purpose financing subsidiaries of the Company, in each case, as a result of the consummation of the 2021 Merger.
Schedule of Interest Expense
For the years ended December 31, 2022, 2021 and 2020, the components of total interest expense for the Company's financing arrangements were as follows:
Year Ended December 31,
202220212020
Arrangement(1)
Direct Interest ExpenseAmortization of Deferred Financing Costs and Discount / PremiumTotal Interest ExpenseDirect Interest ExpenseAmortization of Deferred Financing Costs and DiscountTotal Interest ExpenseDirect Interest ExpenseAmortization of Deferred Financing Costs and DiscountTotal Interest Expense
Ambler Credit Facility(2)
$6 $0 $6 $2 $0 $2 $— $— $— 
Burholme Prime Brokerage Facility(2)
— — — — — — — — — 
CCT Tokyo Funding Credit Facility(2)
11 1 12 4 1 5 6 1 7 
Darby Creek Credit Facility(2)
10 0 10 3 0 3 — — — 
Dunlap Credit Facility(2)
19 0 19 6 0 6 — — — 
Juniata River Credit Facility(2)
— — — 6 — 6 — — — 
Locust Street Funding Credit Facility(2)
— — — — — — 13 3 16 
Meadowbrook Run Credit Facility(2)
9 0 9 4 0 4 — — — 
Senior Secured Revolving Credit Facility(2)
106 4 110 38 3 41 41 3 44 
4.750% Notes due 20226 0 6 21 1 22 21 0 21 
5.000% Notes due 2022— — — 11 — 11 12 — 12 
4.625% Notes due 202419 1 20 19 1 20 19 1 20 
1.650% Notes due 20248 2 10 2 0 2 — — — 
4.125% Notes due 202519 1 20 19 2 21 19 3 22 
4.250% Notes due 202520 (7)13 11 (4)7 — — — 
8.625% Notes due 202522 2 24 22 1 23 15 1 16 
3.400% Notes due 202634 5 39 35 4 39 2 0 2 
2.625% Notes due 202711 1 12 6 0 6 — — — 
3.250% Notes due 202715 2 17 — — — — — — 
3.125% Notes due 202823 1 24 5 0 5 — — — 
CLO-1 Notes13 1 14 8 0 8 10 0 10 
Total$351 $14 $365 $222 $9 $231 $158 $12 $170 
___________
(1)Borrowings of each of the Company's wholly-owned, special-purpose financing subsidiaries are considered borrowings of the Company for purposes of complying with the asset coverage requirements applicable to BDCs under the 1940 Act.
(2)Direct interest expense includes the effect of non-usage fees.