Tax Information (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Tax Character of Distributions

The tax character of distributions were as follows:

	For the year ended December 31,
(in thousands)	2022		2021		2020
Distributions paid from:
Ordinary income	$	13,023	$	9,743	$	13,084
Net long term capital gains		-		-		265
Total taxable distributions	$	13,023	$	9,743	$	13,349

Summary of Components of Distributable Earnings (Losses) on Tax Basis

The components of distributable earnings (losses) on a tax basis were as follows:

	As of December 31,
(in thousands)	2022			2021			2020
Undistributed ordinary income, net	$	3,534		$	4,797		$	91
Capital loss carryforwards		(185,737	)		(62,971	)		(54,887	)
Total undistributed earnings		(182,203	)		(58,174	)		(54,796	)
Unrealized earnings (losses), net		(17,171	)		(112,846	)		(96,323	)
Total accumulated earnings (losses), net(1)	$	(199,374	)	$	(171,020	)	$	(151,119	)

(1)Taxable income is estimated and is not considered final until the Company files its tax return.

Schedule of Aggregate Unrealized Appreciation and Depreciation on Investment for U.S. Federal Income Tax Purpose

The Company’s aggregate unrealized appreciation and depreciation on investments based on cost for U.S. federal income tax purposes were as follows:

	As of December 31,
(in thousands)	2022			2021
Tax cost	$	318,255		$	524,990
Gross unrealized appreciation		2,230			49,821
Gross unrealized depreciation		(19,401	)		(162,667	)
Net unrealized appreciation (depreciation) on investments	$	(17,171	)	$	(112,846	)

Schedule of Reclassification of Capital Accounts on Tax Basis

In order to present certain components of the Company's capital accounts on a tax-basis, certain reclassifications have been recorded to the Company's accounts. These reclassifications have no impact on the net asset value of the Company's and result primarily from dividend redesignations, certain non-deductible expenses, and differences in the tax treatment of partnership income and defaulted bonds.

	As of December 31,
(in thousands)	2022			2021
Paid-in capital in excess of par	$	(252	)	$	(117	)
Accumulated undistributed net investment income		(2,737	)		1,335
Accumulated net realized gain (loss)		2,989			(1,218	)