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Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Investment income      
Paid-in-kind interest income $ 120.0 $ 111.0 $ 84.0
Total investment income 1,635.0 1,081.0 639.0
Operating expenses      
Management fees 245.0 173.0 106.0
Subordinated income incentive fees [1] 159.0 77.0 0.0
Administrative services expenses 15.0 12.0 7.0
Accounting and administrative fees 5.0 3.0 2.0
Interest expense [2] 365.0 231.0 170.0
Other general and administrative expenses 22.0 19.0 13.0
Total operating expenses 811.0 515.0 298.0
Incentive fee waiver [1] (60.0) (30.0) 0.0
Net expenses 751.0 485.0 298.0
Net investment income before taxes 884.0 596.0 341.0
Excise taxes 19.0 12.0 10.0
Net investment income 865.0 584.0 331.0
Realized and unrealized gain/loss      
Net realized gain (loss) on investments: 149.0 171.0 (490.0)
Net realized gain (loss) on foreign currency forward contracts 10.0 0.0 0.0
Net change in unrealized appreciation (depreciation) on investments: [3] (981.0) 717.0 (221.0)
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts 16.0 12.0 (3.0)
Net change in unrealized gain (loss) on foreign currency 15.0 30.0 (16.0)
Total net realized and unrealized gain (loss) (768.0) 934.0 (736.0)
Provision for taxes on realized and unrealized gains on investments (5.0) 0.0 0.0
Realized loss on extinguishment of debt 0.0 (3.0) 0.0
Net increase (decrease) in net assets resulting from operations 92.0 $ 1,515.0 $ (405.0)
Earnings Per Share [Abstract]      
Net increase (decrease) in net assets resulting from operations (Earnings per Share) - basic (in dollars per share)   $ 0.32 $ 7.16
Net increase (decrease) in net assets resulting from operations (Earnings per Share) - diluted (in dollars per share)   $ 0.32 $ 7.16
Weighted average shares outstanding - basic (in shares)   283,508,494 211,670,361
Weighted average shares outstanding - diluted (in shares)   283,508,494 211,670,361
Non-controlled/unaffiliated      
Investment income      
Interest income 1,020.0 $ 641.0 $ 427.0
Paid-in-kind interest income 72.0 52.0 43.0
Fee income 74.0 88.0 33.0
Dividend and other income 50.0 30.0 16.0
Realized and unrealized gain/loss      
Net realized gain (loss) on investments: 136.0 28.0 (323.0)
Net realized gain (loss) on foreign currency 23.0 (7.0) (6.0)
Net change in unrealized appreciation (depreciation) on investments: (679.0) 478.0 17.0
Non-controlled/affiliated      
Investment income      
Interest income 28.0 21.0 10.0
Paid-in-kind interest income 48.2 [4] 18.5 [5] 19.0
Fee income 5.6 [4] 1.9 [5] 0.0
Dividend and other income 6.5 [4] 0.4 [5] 0.0
Realized and unrealized gain/loss      
Net realized gain (loss) on investments: 83.6 191.9 (132.0)
Net change in unrealized appreciation (depreciation) on investments: (131.4) 94.3 (126.0)
Controlled/affiliated      
Investment income      
Interest income 58.0 25.0 7.0
Paid-in-kind interest income 43.1 [6] 35.9 [7] 4.0
Fee income 0.0 [6] 0.6 [7] 0.0
Dividend and other income 228.7 [6] 165.7 [7] 80.0
Realized and unrealized gain/loss      
Net realized gain (loss) on investments: (71.4) (48.5) (35.0)
Net change in unrealized appreciation (depreciation) on investments: $ (171.1) $ 156.5 $ (112.0)
[1] See Note 2 and 4 for a discussion of the methodology employed by the Company in calculating the subordinated income incentive fees.
[2] See Note 9 for a discussion of the Company’s financing arrangements.
[3] For the year ended December 31, 2021, amount excludes $11 of unrealized depreciation on unfunded commitments acquired from the 2021 Merger.
[4] Interest, PIK, fee and dividend and other income presented for the full year ended December 31, 2022.
[5] Interest, PIK, fee and dividend income presented for the full year ended December 31, 2021.
[6] Interest, PIK, fee and dividend and other income presented for the full year ended December 31, 2022.
[7] Interest, PIK, fee and dividend income presented for the full year ended December 31, 2021.