XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Unaudited Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Investment income    
Paid-in-kind interest income $ 25.0 $ 28.0
Total investment income 434.0 456.0
Operating expenses    
Management fees 55.0 58.0
Subordinated income incentive fees [1] 43.0 46.0
Administrative services expenses 3.0 3.0
Accounting and administrative fees 1.0 1.0
Interest expense [2] 116.0 114.0
Other general and administrative expenses 4.0 5.0
Total operating expenses 222.0 227.0
Net investment income 212.0 229.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: (243.0) (58.0)
Net realized gain (loss) on foreign currency forward contracts 0.0 3.0
Net realized gain (loss) on foreign currency (3.0) 1.0
Net change in unrealized appreciation (depreciation) on investments: 186.0 31.0
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts 8.0 (4.0)
Net change in unrealized gain (loss) on foreign currency 13.0 (3.0)
Total net realized and unrealized gain (loss) (39.0) (30.0)
Net increase (decrease) in net assets resulting from operations $ 173.0 $ 199.0
Per share information—basic and diluted    
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - basic (in dollars per share) $ 0.62 $ 0.71
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - diluted (in dollars per share) $ 0.62 $ 0.71
Weighted average shares outstanding - basic (in shares) 280,066,433 280,919,460
Weighted average shares outstanding - diluted (in shares) 280,066,433 280,919,460
Non-controlled/unaffiliated    
Investment income    
Interest income $ 288.0 $ 305.0
Paid-in-kind interest income 17.0 23.0
Fee income 17.0 5.0
Dividend and other income 6.0 19.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: (225.0) (58.0)
Net change in unrealized appreciation (depreciation) on investments: 172.0 5.0
Non-controlled/affiliated    
Investment income    
Interest income 6.0 3.0
Paid-in-kind interest income 10.0 [3] 9.0
Fee income 0.0 [3] 0.0
Dividend and other income 4.0 [3] 0.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: (9.9) 0.0
Net change in unrealized appreciation (depreciation) on investments: 19.7 16.0
Controlled/affiliated    
Investment income    
Interest income 21.0 19.0
Paid-in-kind interest income 8.1 [4] 10.0
Fee income 0.0 [4] 0.0
Dividend and other income 57.0 [4] 63.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: (7.8) 0.0
Net change in unrealized appreciation (depreciation) on investments: $ (5.9) $ 10.0
[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, 2024.
[4] Interest, PIK, fee and dividend income presented for the full three months ended March 31, 2024.