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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net increase (decrease) in net assets from operations $ 11,968 $ 10,586
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:    
Purchases and originations of investments (216,823) (189,529)
Proceeds from sales and repayments of debt investments in portfolio companies 84,873 66,844
Proceeds from sales and return of capital of equity investments in portfolio companies 1,749 5,371
Payment of accreted original issue discounts 1,273 1,313
Payment of accrued payment-in-kind interest 286 320
Depreciation and amortization 1,328 1,087
Net pension benefit (62) (66)
Realized loss on extinguishment of debt 0 17,103
Realized loss (gain) on investments before income tax 6,333 (2,252)
Net unrealized depreciation (appreciation) on investments before income tax 6,024 (7,822)
Accretion of discounts on investments (1,811) (1,419)
Payment-in-kind interest (1,976) (2,684)
Share-based compensation expense 1,881 1,999
Deferred income taxes 3,050 1,957
Changes in other assets and liabilities:    
Increase in dividend and interest receivable (2,642) (1,641)
Decrease in escrow receivables 756 209
Decrease in tax receivable 0 5
Decrease (increase) in other receivables 1,345 (2,156)
Decrease (increase) in other assets 202 (471)
(Decrease) increase in taxes payable (982) 66
Increase (decrease) in other liabilities 7,670 (2,609)
Net cash used in operating activities (95,558) (103,789)
Cash flows from investing activities    
Acquisition of fixed assets (156) 0
Net cash used in investing activities (156) 0
Cash flows from financing activities    
Proceeds from common stock offering 72,561 57,586
Borrowings under credit facility 95,000 190,000
Repayments of credit facility (60,000) (95,000)
Debt issuance costs paid (523) (3,390)
Proceeds from issuance of SBA Debentures 39,026 17,074
Proceeds from issuance of October 2026 Notes 0 97,418
Redemption of October 2024 Notes 0 (125,000)
Payment for debt extinguishment costs 0 (15,196)
Dividends to shareholders (30,902) (23,930)
Common stock withheld for payroll taxes upon vesting of restricted stock (641) (546)
Net cash provided by financing activities 114,521 99,016
Net increase (decrease) in cash and cash equivalents 18,807 (4,773)
Cash and cash equivalents at beginning of period 11,431 31,613
Cash and cash equivalents at end of period 30,238 26,840
Supplemental cash flow disclosures:    
Cash paid for income taxes 1,400 150
Cash paid for interest $ 7,964 $ 12,618