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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net increase in net assets from operations $ 46,436 $ 11,968
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:    
Purchases and originations of investments (206,011) (216,823)
Proceeds from sales and repayments of debt investments in portfolio companies 54,791 84,873
Proceeds from sales and return of capital of equity investments in portfolio companies 3,402 1,749
Payment of accreted original issue discounts 525 1,273
Payment of accrued payment-in-kind interest 0 286
Depreciation and amortization 1,941 1,328
Net pension benefit (33) (62)
Realized loss (gain) on investments before income tax 12,236 6,333
Realized loss on extinguishment of debt 361 0
Net unrealized (appreciation) depreciation on investments before income tax (6,376) 6,024
Accretion of discounts on investments (2,620) (1,811)
Payment-in-kind interest (2,713) (1,976)
Share-based compensation expense 2,199 1,881
Deferred income taxes (1,758) 3,050
Changes in other assets and liabilities:    
Increase in dividend and interest receivable (6,083) (2,642)
Decrease in escrow receivables 274 0
Decrease in tax receivable 32 756
(Increase) decrease in other receivables (88) 1,345
Decrease in other assets 460 202
Increase (decrease) in taxes payable 307 (982)
(Decrease) increase in other liabilities (1,699) 7,670
Net cash used in operating activities (104,417) (95,558)
Cash flows from investing activities    
Acquisition of fixed assets (2) (156)
Net cash used in investing activities (2) (156)
Cash flows from financing activities    
Proceeds from common stock offering 67,390 72,561
Borrowings under credit facility 165,000 95,000
Repayments of credit facility (150,000) (60,000)
Debt issuance costs paid (7,400) (523)
Proceeds from issuance of SBA Debentures 9,756 39,026
Proceeds from issuance of August 2028 Notes 69,719 0
Dividends to shareholders (47,685) (30,902)
Common stock withheld for payroll taxes upon vesting of restricted stock (926) (641)
Net cash provided by financing activities 105,854 114,521
Net increase in cash and cash equivalents 1,435 18,807
Cash and cash equivalents at beginning of period 21,585 11,431
Cash and cash equivalents at end of period 23,020 30,238
Supplemental cash flow disclosures:    
Cash paid for income taxes 315 1,400
Cash paid for interest $ 16,412 $ 7,964