Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Components of Interest Expense

For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the components of interest expense related to the 2023 Notes, 2024 Notes, 2026 Notes, 2028 Notes and 2029 Notes were as follows:

	For the Year Ended
	December 31, 2024		December 31, 2023		December 31, 2022
Interest expense	$	60,116	$	29,294	$	27,716
Accretion of original issue discount		1,614		899		766
Amortization of deferred financing costs		3,409		2,131		2,408
Total Interest Expense	$	65,139	$	32,324	$	30,890

For the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the components of interest expense were as follows:

	Year Ended			Year Ended			Year Ended
	December 31, 2024			December 31, 2023			December 31, 2022
Interest expense	$	105,155		$	95,496		$	49,897
Commitment fees		4,006			2,852			4,075
Amortization of deferred financing costs		6,903			5,245			5,683
Accretion of original issue discount		1,614			899			766
Swap settlement		36,467			29,239			2,570
Total Interest Expense	$	154,145		$	133,731		$	62,991
Average debt outstanding (in millions)	$	1,882.7		$	1,705.6		$	1,342.0
Weighted average interest rate		7.5	%		7.3	%		3.9	%

Schedule of Component of Carrying Value of Convertible Notes and Interest Rate

As of December 31, 2024, the components of the carrying value of the 2026 Notes, 2028 Notes and 2029 Notes and the stated interest rates were as follows:

	December 31, 2024
	2026 Notes			2028 Notes			2029 Notes
Principal amount of debt	$	300,000		$	300,000		$	350,000
Original issue discount, net of accretion		(666	)		(1,357	)		(2,819	)
Deferred financing costs		(1,182	)		(3,127	)		(4,093	)
Fair value of an effective hedge		(17,618	)		(1,377	)		(5,243	)
Carrying value of debt	$	280,534		$	294,139		$	337,845
Stated interest rate		2.50	%		6.95	%		6.13	%

As of December 31, 2023, the components of the carrying value of the 2024 Notes, 2026 Notes and 2028 Notes and the stated interest rates were as follows:

	December 31, 2023
	2024 Notes			2026 Notes			2028 Notes
Principal amount of debt	$	347,500		$	300,000		$	300,000
Original issue discount, net of accretion		(335	)		(1,072	)		(1,675	)
Deferred financing costs		(852	)		(1,932	)		(3,994	)
Fair value of an effective hedge		(10,409	)		(26,111	)		4,680
Carrying value of debt	$	335,904		$	270,885		$	299,011
Stated interest rate		3.88	%		2.50	%		6.95	%

Schedule of Debt Obligations

Debt obligations consisted of the following as of December 31, 2024 and December 31, 2023:

	December 31, 2024
	Aggregate Principal Amount Committed		Outstanding Principal		Amount Available (1)		Carrying Value (2)(3)
Revolving Credit Facility	$	1,700,000	$	1,004,058	$	674,190	$	988,624
2026 Notes		300,000		300,000		—		280,534
2028 Notes		300,000		300,000		—		294,139
2029 Notes		350,000		350,000		—		337,845
Total Debt	$	2,650,000	$	1,954,058	$	674,190	$	1,901,142

(1)The amount available may be subject to limitations related to the borrowing base under the Revolving Credit Facility and asset coverage requirements.

(2)The carrying values of the Revolving Credit Facility, 2026 Notes, 2028 Notes and 2029 Notes are presented net of the combination of deferred financing costs and original issue discounts totaling $15.4 million, $1.8 million, $4.5 million and $6.9 million, respectively.

(3)The carrying values of the 2026 Notes, 2028 Notes and 2029 Notes are presented inclusive of an incremental $(17.6) million, $(1.4) million and $(5.2) million, respectively, which represents an adjustment in the carrying values of the 2026 Notes, 2028 Notes and 2029 Notes, each resulting from a hedge accounting relationship.

	December 31, 2023
	Aggregate Principal Amount Committed		Outstanding Principal		Amount Available (1)		Carrying Value (2)(3)
Revolving Credit Facility	$	1,710,000	$	889,659	$	820,160	$	874,507
2024 Notes		347,500		347,500		—		335,904
2026 Notes		300,000		300,000		—		270,885
2028 Notes		300,000		300,000		—		299,011
Total Debt	$	2,657,500	$	1,837,159	$	820,160	$	1,780,307

(1)The amount available may be subject to limitations related to the borrowing base under the Revolving Credit Facility and asset coverage requirements.

(2)The carrying values of the Revolving Credit Facility, 2024 Notes, 2026 Notes and 2028 Notes are presented net of the combination of deferred financing costs and original issue discounts totaling $15.2 million, $1.2 million, $3.0 million and $5.7 million, respectively.

(3)The carrying values of the 2024 Notes, 2026 Notes and 2028 Notes are presented inclusive of an incremental $(10.4) million, $(26.1) million and $4.7 million, respectively, which represents an adjustment in the carrying values of the 2024 Notes, 2026 Notes and 2028 Notes, each resulting from a hedge accounting relationship.