Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Tax Character of Shareholder Distributions

The tax character of shareholder distributions attributable to the years ended December 31, 2022, 2021 and 2020, were as follows (in thousands):

	2022		2021		2020
Ordinary Income	$	55,288	$	48,843	$	46,216
Capital Gain		—		—		—
Total	$	55,288	$	48,843	$	46,216

For years ended December 31, 2022, 2021 and 2020, 83.8%, 86.7%, and 98.0%, respectively, of ordinary income qualified as interest related dividend which is exempt from U.S. withholding tax applicable to non U.S. shareholders.

Summary of Components of Distributed Earnings on Tax Basis

For the years ended December 31, 2022, 2021 and 2020, the components of distributable earnings on a tax basis detailed below differ from the amounts reflected in the Company’s Consolidated Statements of Assets and Liabilities by temporary and other book/tax differences, primarily relating to the tax treatment of wash sales, organizational expenses, partnership basis adjustments, forward contracts mark to market and defaulted bond income accruals is as follows (in thousands):
 

	2022			2021			2020
Undistributed net investment income	$	15,656		$	13,350		$	8,439
Other temporary differences		(437	)		(447	)		(456	)
Post October loss deferrals		—			—			—
Capital loss carryover		(41,134	)		(34,248	)		(63,271	)
Unrealized appreciation (depreciation)		(36,583	)		7,437			20,630
Components of tax distributable earnings at year end	$	(62,498	)	$	(13,908	)	$	(34,658	)

Summary of Book Purpose Amounts Arising from Permanent book/Tax Differences Related to Different Tax Treatment of Foreign Currency

For the years ended December 31, 2022, 2021 and 2020, the Company reclassified for book purposes amounts arising from permanent book/tax differences related to the different tax treatment of foreign currency gain/(loss), defaulted bonds and non-deductible-excise tax as follows (in thousands):

	2022			2021			2020
Accumulated net realized gain (loss)	$	(5,482	)	$	(16,849	)	$	(35,651	)
Distributions in excess of Investment Company Taxable Income		(3,364	)		2,837			(94	)
Total	$	(8,846	)	$	(14,012	)	$	(35,745	)

Summary of Aggregate Investment Unrealized Appreciation and Depreciation

The Company’s aggregate investment unrealized appreciation and depreciation for federal income tax purposes was as follows (in thousands):

		As of December 31, 2022			As of December 31, 2021
Tax Cost		$	1,295,847		$	1,260,862
Gross Unrealized Appreciation		$	9,274		$	34,877
Gross Unrealized Depreciation			(42,164	)		(25,373	)
	Net Unrealized Investment Appreciation (Depreciation)	$	(32,890	)	$	9,504

Schedule of Income Taxes and Excise Taxes

The Company recognized the following income taxes related to Taxable Subsidiary and excise taxes related to the Company’s status as a RIC:

	For the years ended,
		2022			2021		2020
Income tax (benefit) provision	$	(326	)	$	1,732	$	(51	)
Excise tax (benefit) provision		481			518		592
(Benefit) provision for income and excise taxes	$	155		$	2,250	$	541

Schedule of Benefits (Provisions) for Taxes on Realized and Unrealized Appreciation and Depreciation on Investments

The Company recognized the following benefits (provisions) for taxes on realized and unrealized appreciation and depreciation on investments:

	For the years ended,
		2022			2021			2020
Benefit (provision) for taxes on realized gain on    investments	$	(911	)	$	(1,177	)	$	46
Benefit (provision) for taxes on unrealized appreciation    (depreciation) on investments		105			(220	)		(235	)
Benefit (provision) for taxes on realized and unrealized    appreciation (depreciation) on investments	$	(806	)	$	(1,397	)	$	(189	)