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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities    
Net increase (decrease) in net assets from operations $ 14,917 $ 23,146
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:    
Purchases and originations of investments (343,402) (410,066)
Proceeds from sales and repayments of debt investments in portfolio companies 106,649 221,462
Proceeds from sales and return of capital of equity investments in portfolio companies 2,664 11,881
Payment of accreted original issue discounts 1,444 3,133
Payment of accrued payment-in-kind interest 1,313 2,064
Depreciation and amortization 2,002 1,628
Net pension benefit (43) (99)
Realized loss on extinguishment of debt 0 17,103
Realized loss (gain) on investments before income tax 17,348 (6,058)
Net unrealized depreciation (appreciation) on investments before income tax 7,977 (5,089)
Accretion of discounts on investments (2,873) (2,177)
Payment-in-kind interest (3,891) (3,550)
Share-based compensation expense 2,873 2,848
Deferred income taxes 5,680 1,149
Changes in other assets and liabilities:    
(Increase) decrease in dividend and interest receivable (4,725) 1,601
Decrease (increase) in escrow receivables 756 (159)
(Increase) decrease in tax receivable (79) 121
Increase in other receivables (965) (104)
Increase in other assets (266) (1,152)
(Decrease) increase in taxes payable (831) 1,477
(Decrease) increase in other liabilities (196) 1,738
Net cash used in operating activities (193,648) (139,103)
Cash flows from investing activities    
Acquisition of fixed assets (159) 0
Net cash used in investing activities (159) 0
Cash flows from financing activities    
Proceeds from common stock offering 174,169 73,346
Equity offering costs paid (102) 0
Borrowings under credit facility 140,000 295,000
Repayments of credit facility (120,000) (225,000)
Debt issuance costs paid (1,248) (3,445)
Proceeds from issuance of SBA Debentures 62,442 28,294
Proceeds from issuance of October 2026 Notes 0 146,414
Redemption of October 2024 Notes 0 (125,000)
Payment for debt extinguishment costs 0 (15,196)
Dividends to shareholders (50,177) (46,847)
Common stock withheld for payroll taxes upon vesting of restricted stock (1,022) (1,408)
Net cash provided by financing activities 204,062 126,158
Net increase (decrease) in cash and cash equivalents 10,255 (12,945)
Cash and cash equivalents at beginning of period 11,431 31,613
Cash and cash equivalents at end of period 21,686 18,668
Supplemental cash flow disclosures:    
Cash paid for income taxes 1,481 150
Cash paid for interest $ 15,937 $ 13,744