XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Unaudited Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Investment income        
Paid-in-kind interest income     $ 116.0 $ 89.0
Total investment income $ 465.0 $ 411.0 1,383.0 1,186.0
Operating expenses        
Management fees 56.0 61.0 170.0 186.0
Subordinated income incentive fees [1] 47.0 40.0 140.0 117.0
Administrative services expenses 3.0 4.0 10.0 12.0
Accounting and administrative fees 1.0 2.0 3.0 4.0
Interest expense [2] 117.0 96.0 349.0 256.0
Other general and administrative expenses 7.0 6.0 19.0 16.0
Total operating expenses 231.0 209.0 691.0 591.0
Incentive fee waiver [1] 0.0 (15.0) 0.0 (45.0)
Net expenses 231.0 194.0 691.0 546.0
Net investment income before taxes 234.0 217.0 692.0 640.0
Excise taxes 0.0 1.0 0.0 1.0
Net investment income 234.0 216.0 692.0 639.0
Realized and unrealized gain/loss        
Net realized gain (loss) on investments:     (338.0) 214.0
Net realized gain (loss) on foreign currency forward contracts 3.0 2.0 7.0 9.0
Net realized gain (loss) on foreign currency 1.0 5.0 4.0 12.0
Net change in unrealized appreciation (depreciation) on investments:     237.0 (930.0)
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts 0.0 15.0 (3.0) 31.0
Net change in unrealized gain (loss) on foreign currency 14.0 23.0 7.0 53.0
Total net realized and unrealized gain (loss) 31.0 (343.0) (86.0) (611.0)
Provision for taxes on realized gains on investments 0.0 0.0 0.0 (3.0)
Net increase (decrease) in net assets resulting from operations $ 265.0 $ (127.0) $ 606.0 $ 25.0
Per share information—basic and diluted        
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - basic (in dollars per share) $ 0.95 $ (0.45) $ 2.16 $ 0.09
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - diluted (in dollars per share) $ 0.95 $ (0.45) $ 2.16 $ 0.09
Weighted average shares outstanding - basic (in shares) 280,066,433 283,175,526 280,347,651 283,787,605
Weighted average shares outstanding - diluted (in shares) 280,066,433 283,175,526 280,347,651 283,787,605
Non-controlled/unaffiliated investments        
Investment income        
Interest income $ 290.0 $ 255.0 $ 886.0 $ 725.0
Paid-in-kind interest income 35.0 18.0 94.0 51.0
Fee income 7.0 23.0 17.0 63.0
Dividend and other income 16.0 9.0 52.0 34.0
Realized and unrealized gain/loss        
Net realized gain (loss) on investments: (50.0) 16.0 (147.0) 167.0
Net change in unrealized appreciation (depreciation) on investments: 94.0 (283.0) 125.0 (574.0)
Non-controlled/affiliated investments        
Investment income        
Interest income 6.0 8.0 19.0 25.0
Paid-in-kind interest income 9.0 12.0 27.1 [3] 37.0
Fee income 0.0 3.0 1.2 [3] 5.0
Dividend and other income 0.0 0.0 0.0 [3] 7.0
Realized and unrealized gain/loss        
Net realized gain (loss) on investments: (14.0) 51.0 (16.9) 90.0
Net change in unrealized appreciation (depreciation) on investments: 22.0 (99.0) 10.5 (140.0)
Controlled/affiliated investments        
Investment income        
Interest income 20.0 16.0 58.0 37.0
Paid-in-kind interest income 14.0 9.0 34.6 [4] 34.0
Fee income 5.0 0.0 4.8 [4] 0.0
Dividend and other income 63.0 58.0 189.2 [4] 168.0
Realized and unrealized gain/loss        
Net realized gain (loss) on investments: (2.0) (4.0) (174.1) (43.0)
Net change in unrealized appreciation (depreciation) on investments: $ (37.0) $ (69.0) $ 100.8 $ (216.0)
[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 nine months ended September 30, 2023.
[4] Interest, PIK, fee and dividend income presented for the full nine months ended September 30, 2023.