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Unaudited Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Investment income    
Paid-in-kind interest income $ 28.0 $ 34.0
Total investment income 456.0 396.0
Operating expenses    
Management fees 58.0 62.0
Subordinated income incentive fees [1] 46.0 40.0
Administrative services expenses 3.0 4.0
Accounting and administrative fees 1.0 1.0
Interest expense [2] 114.0 77.0
Other general and administrative expenses 5.0 7.0
Total operating expenses 227.0 191.0
Incentive fee waiver [1] 0.0 (15.0)
Net expenses 227.0 176.0
Net investment income 229.0 220.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: (58.0) (32.0)
Net realized gain (loss) on foreign currency forward contracts 3.0 5.0
Net realized gain (loss) on foreign currency 1.0 1.0
Net change in unrealized appreciation (depreciation) on investments: 31.0 27.0
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts (4.0) 1.0
Net change in unrealized gain (loss) on foreign currency (3.0) 3.0
Total net realized and unrealized gain (loss) (30.0) 5.0
Net increase (decrease) in net assets resulting from operations $ 199.0 $ 225.0
Per share information—basic and diluted    
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - basic (in dollars per share) $ 0.71 $ 0.79
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - diluted (in dollars per share) $ 0.71 $ 0.79
Weighted average shares outstanding - basic (in shares) 280,919,460 284,323,542
Weighted average shares outstanding - diluted (in shares) 280,919,460 284,323,542
Non-controlled/unaffiliated investments    
Investment income    
Interest income $ 305.0 $ 241.0
Paid-in-kind interest income 23.0 18.0
Fee income 5.0 27.0
Dividend and other income 19.0 8.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: (58.0) (26.0)
Net change in unrealized appreciation (depreciation) on investments: 5.0 (40.0)
Non-controlled/affiliated investments    
Investment income    
Interest income 3.0 10.0
Paid-in-kind interest income 9.1 [3] 11.0
Fee income 0.0 [3] 2.0
Dividend and other income 0.0 [3] 5.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: 0.2 (6.0)
Net change in unrealized appreciation (depreciation) on investments: 15.5 30.0
Controlled/affiliated investments    
Investment income    
Interest income 19.0 10.0
Paid-in-kind interest income 10.0 [3] 14.0
Fee income 0.0 [3] 0.0
Dividend and other income 62.9 [3] 50.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: 0.0 0.0
Net change in unrealized appreciation (depreciation) on investments: $ 10.2 $ 37.0
[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] Interest, PIK, fee and dividend income presented for the full three months ended March 31, 2023.