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Distributions (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Summary of Cash Distributions Paid on Common Stock Including Tax Basis
The following table reflects the distributions per share that the Company has declared on its common stock during the years ended December 31, 2024, 2023 and 2022:
 
For the Year Ended
December 31, 2024
Date DeclaredDividendRecord DatePayment DateDividend per Share
November 2, 2023SpecialFebruary 14, 2024February 28, 2024$0.05 
February 20, 2024BaseMarch 13, 2024April 2, 20240.64 
February 20, 2024SupplementalMarch 13, 2024April 2, 20240.06 
November 2, 2023SpecialMay 15, 2024May 29, 20240.05 
May 2, 2024BaseJune 12, 2024July 2, 20240.64 
May 2, 2024SupplementalJune 12, 2024July 2, 20240.06 
July 31, 2024BaseSeptember 11, 2024October 2, 20240.64 
July 31, 2024SupplementalSeptember 11, 2024October 2, 20240.06 
October 8, 2024BaseDecember 4, 2024December 18, 20240.64 
October 8, 2024SupplementalDecember 4, 2024December 18, 20240.06 
Total Dividends Declared$2.90 
 
For the Year Ended
December 31, 2023
Date DeclaredDividendRecord DatePayment DateDividend per Share
February 21, 2023BaseMarch 15, 2023April 3, 2023$0.64 
February 21, 2023SupplementalMarch 15, 2023April 3, 20230.06 
May 4, 2023SpecialMay 17, 2023May 31, 20230.05 
May 4, 2023BaseJune 14, 2023July 5, 20230.64 
May 4, 2023SupplementalJune 14, 2023July 5, 20230.06 
May 4, 2023SpecialAugust 16, 2023August 30, 20230.05 
August 3, 2023BaseSeptember 13, 2023October 3, 20230.64 
August 3, 2023SupplementalSeptember 13, 2023October 3, 20230.06 
May 4, 2023SpecialNovember 15, 2023November 29, 20230.05 
November 2, 2023BaseDecember 13, 2023January 3, 20240.64 
November 2, 2023SupplementalDecember 13, 2023January 3, 20240.06 
Total Dividends Declared$2.95 
 
For the Year Ended
December 31, 2022
Date DeclaredDividendRecord DatePayment DateDividend per Share
February 23, 2022BaseMarch 16, 2022April 4, 2022$0.60 
February 23, 2022SupplementalMarch 16, 2022April 4, 20220.03 
May 5, 2022BaseJune 15, 2022July 5, 20220.60 
May 5, 2022SupplementalJune 15, 2022July 5, 20220.08 
August 8, 2022BaseSeptember 14, 2022October 4, 20220.61 
August 8, 2022SupplementalSeptember 14, 2022October 4, 20220.06 
November 4, 2022BaseDecember 14, 2022January 3, 20230.61 
November 4, 2022SupplementalDecember 14, 2022January 3, 20230.07 
Total Dividends Declared$2.66 
The following table reflects the sources of the cash distributions on a tax basis that the Company has paid on its common stock during the years ended December 31, 2024, 2023 and 2022:
 
 Year Ended December 31,
 202420232022
Source of DistributionDistribution
Amount		PercentageDistribution
Amount		PercentageDistribution
Amount		Percentage
Offering proceeds$— — $— — $— — 
Borrowings— — — — — — 
Net investment income(1)
812 100 %827 100 %754 100 %
Short-term capital gains proceeds from the sale of assets
— — — — — — 
Long-term capital gains proceeds from the sale of assets
— — — — — — 
Non-capital gains proceeds from the sale of assets— — — — — — 
Distributions on account of preferred and common equity
— — — — — — 
Total$812 100 %$827 100 %$754 100 %
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(1)During the years ended December 31, 2024, 2023 and 2022, 85.2%, 86.6% and 85.5%, respectively, of the Company’s gross investment income was attributable to cash income earned, 2.5%, 2.9% and 4.5%, respectively, was attributable to non-cash accretion of discount and 12.3%, 10.5% and 10.0%, respectively, was attributable to paid-in-kind, or PIK, interest.
Summary of Reconciliation of Net Investment Income and Tax-basis Net Investment Income
The following table sets forth a reconciliation between GAAP-basis net investment income and tax-basis net investment income during the years ended December 31, 2024, 2023 and 2022:
 Year Ended December 31,
 202420232022
GAAP-basis net investment income$813 $892 $865 
Income subject to tax not recorded for GAAP(35)74 23 
GAAP accretion from merger not recognized for tax(33)(46)(50)
Excise taxes23 22 19 
GAAP versus tax-basis impact of consolidation of certain subsidiaries6 6 5 
Reclassification of unamortized original issue discount and prepayment fees(21)(3)(27)
Other miscellaneous differences(18)(2)26 
Tax-basis net investment income$735 $943 $861 
Summary of Components of Accumulated Earnings
As of December 31, 2024 and 2023, the components of accumulated earnings on a tax basis were as follows:
Year Ended December 31,
20242023
Distributable ordinary income$525 $600 
Distributable realized gains (accumulated capital losses)(1)
(2,703)(2,068)
Other temporary differences24 16 
Net unrealized appreciation (depreciation)(2)
(508)(1,136)
Total$(2,662)$(2,588)
 ________________
(1)Net capital losses may be carried forward indefinitely, and their character is retained as short-term or long-term losses. As of December 31, 2024, the Company had capital loss carryforwards available to offset future realized capital gains of approximately . The capital loss carryforward includes amounts from prior reorganizations that may be limited in their use. Any unused balances resulting from such limitations may be carried forward into future years indefinitely.
(2)As of December 31, 2024 and 2023, the gross unrealized appreciation was $1,254 and $1,282, respectively. As of December 31, 2024 and 2023, the gross unrealized depreciation was $1,762 and $2,418, respectively.