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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Cash flows from operating activities      
Net increase in net assets resulting from operations $ 123,375 $ 105,480 $ 119,807
Adjustments to reconcile net increase (decrease) in net assets from operations to net cash used in operating activities:      
Purchases of investments (844,251) (1,404,088) (1,177,339)
Proceeds from principal payments and sales of investments 937,648 988,084 1,399,163
Net realized (gain) loss from investments 43,897 3,080 (21,226)
Net realized (gain) loss on foreign currency transactions 5,134 (5,292) 3,496
Net realized loss on extinguishment of debt   747 4,859
Net change in unrealized appreciation on forward currency exchange contracts 2,322 5,259 (27,935)
Net change in unrealized appreciation on investments (29,470) 10,682 (15,972)
Net change in unrealized appreciation on foreign currency translation (4,050) 3,644 936
Increase in investments due to PIK (22,844) (15,037) (10,763)
Accretion of discounts and amortization of premiums (5,329) (4,934) (5,674)
Amortization of deferred financing costs and debt issuance costs 3,570 3,896 5,731
Changes in operating assets and liabilities:      
Collateral on forward currency exchange contracts 1,999 (6,797) 2,119
Interest receivable on investments (2,899) (15,001) (3,549)
Prepaid Insurance (16) (1) (193)
Dividend receivable 4,264 4,716 (10,808)
Interest payable 1,153 5,072 (1,165)
Base management fee payable 23 114 2,503
Incentive fee payable (1,889) 4,489 928
Accounts payable and accrued expenses 6,627 (943) 636
Net cash provided by (used in ) in operating activities 219,264 (316,830) 265,554
Cash flows from financing activities      
Borrowings on debt 348,000 792,747 1,425,050
Repayments on debt (480,000) (462,247) (1,461,826)
Payments of financing costs   (4,366)  
Payments of debt issuance costs     (14,053)
Stockholder distributions paid (99,426) (87,804) (87,805)
Net cash provided by (used in) financing activities (231,426) 238,330 (138,634)
Net increase (decrease) in cash, foreign cash, restricted cash and cash equivalents (12,162) (78,500) 126,920
Effect of foreign currency exchange rates (1,084) 649 (5,041)
Cash, foreign cash, restricted cash and cash equivalents, beginning of year 125,730 203,581 81,702
Cash, foreign cash, restricted cash and cash equivalents, end of year 112,484 125,730 203,581
Supplemental disclosure of cash flow information:      
Cash interest paid during the period 75,285 43,350 46,780
Cash paid for income taxes, including excise taxes during the period 1,216 134 237
Supplemental disclosure of non-cash information:      
Debt investment sold by the Company to ISLP     317,077
Company investment into ISLP in exchange for investments sold     128,970
Company investment into Bain Capital Senior Loan Program, LLC   5,584  
Deconsolidation of BCC Middle Market CLO 2018-1 LLC      
Disposition of assets   470,616  
Reduction of liabilities   (390,448)  
Cash 42,995 30,205 87,443
Restricted cash 63,084 65,950 86,159
Foreign cash 6,405 29,575 29,979
Total cash, foreign cash, restricted cash, and cash equivalents shown in the consolidated statements of cash flows $ 112,484 $ 125,730 $ 203,581