XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net Income (Loss) $ 83,837 $ 15,544 $ 83,633
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used for) operating activities:      
Purchases of investments (200,695) (307,998) (647,376)
Paid-in-kind interest income (3,868) (4,455) (3,148)
Proceeds from sales of investments and principal repayments 231,179 277,566 461,268
Net realized (gain) loss on investments, foreign currency transactions and foreign currency forward contracts 14,479 (4,886) (33,162)
Acquisition of First Eagle Alternative Capital BDC, Inc., net of cash acquired [1] (14,981)    
Net change in unrealized (appreciation) depreciation on investments and foreign currency translation (16,096) 54,837 (2,673)
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts 2,954 (6,513) (2,116)
Amortization of premium and accretion of discount, net (7,269) (6,854) (11,284)
Amortization of deferred financing costs 2,100 1,738 2,554
Change in operating assets and liabilities:      
(Increase) decrease in receivable for unsettled transactions (246) 14,866 (14,865)
(Increase) decrease in interest receivable (4,055) (3,182) (2,904)
(Increase) decrease in deferred tax asset (23) (49) 588
(Increase) decrease in other assets 3,319 (4,534) 417
Increase (decrease) in management fees payable 970 226 1,963
Increase (decrease) in incentive fees payable 1,658 (3,812) 6,924
Increase (decrease) in directors’ fees payable (151) 37 16
Increase (decrease) in interest and other debt financing costs payable 2,429 2,958 1,590
Increase (decrease) in deferred tax liability (321) (57) (368)
Increase (Decrease) in Payable for Investment Purchased (514) 514  
Increase (decrease) in accrued expenses and other liabilities (2,408) 2,005 1,289
Net cash provided by (used for) operating activities 92,298 27,951 (157,654)
Cash flows from financing activities:      
Issuance of unsecured debt 50,000   135,000
Repayment of unsecured debt (50,000)    
Repayments on InterNotes     (16,418)
Deferred financing and debt issuance costs paid (3,859) (221) (4,851)
Distributions paid (64,550) (55,288) (47,728)
Borrowings on credit facilities 498,469 339,215 654,974
Repayments on credit facilities (515,047) (318,111) (612,151)
Issuance of common stock     52,632
Equity offering cost     (523)
Deemed contribution from the Adviser (Note 3)     5,386
Net cash provided by (used for) financing activities (84,987) (34,405) 166,321
Effect of exchange rate changes on cash denominated in foreign currency 92 (5) 10
Net increase (decrease) in cash, cash equivalents, restricted cash and foreign currency 7,403 (6,459) 8,677
Cash, cash equivalents, restricted cash and foreign currency, beginning of period 17,067 [2] 23,526 [2] 14,849
Cash, cash equivalents, restricted cash and foreign currency, end of period [2] 24,470 17,067 23,526
Supplemental and non-cash financing activities:      
Cash paid during the period for interest 55,498 26,903 15,474
Cash paid during the period for taxes 665 1,974 2,176
Accrued but unpaid distributions 15,195 $ 12,664 $ 12,664
Issuance of shares in connection with asset acquisition (Note 13) 91,257    
Deemed contribution from the Adviser (non-cash) (Note 13) $ 22,040    
[1] On March 9, 2023, in connection with the FCRD Acquisition (as defined in Note 1 and further discussed in Note 13), the Company acquired net assets of $129,511 which included $335,035 of investments, $1,233 cash and cash equivalents and $4,513 of other assets, net of $211,270 of assumed liabilities, for the total cash and stock consideration of $129,511, inclusive of $7,565 of the transaction costs.
[2] As of December 31, 2023, the balance included cash and cash equivalents of $7,780 (including cash denominated in foreign currency of $1,728) and restricted cash and cash equivalents of $16,690 (including cash denominated in foreign currency of $692). As of December 31, 2022, the balance included cash and cash equivalents of $6,397 (including cash denominated in foreign currency of $125) and restricted cash and cash equivalents of $10,670.