XML 14 R3.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2024
Mar. 31, 2024
Cost $ 1,522,664 [1],[2],[3],[4],[5],[6],[7],[8] $ 1,476,703 [9],[10],[11],[12],[13],[14],[15],[16]
Accumulated amortization 9,013 7,741
Unamortized debt issuance costs $ 7,844 $ 9,022
Common stock, par value (in usd per share) $ 0.25 $ 0.25
Common stock, authorized (in shares) 75,000,000 75,000,000
Common stock, issued (in shares) 47,686,685 45,050,759
Common stock, outstanding (in shares) 47,686,685 45,050,759
SBA Debentures    
Unamortized debt issuance costs $ 3,936 $ 4,305
January 2026 Notes    
Unamortized debt issuance costs 443 612
October 2026 Notes    
Unamortized debt issuance costs 1,538 1,923
August 2028 Notes    
Unamortized debt issuance costs 1,927 2,182
Non-control/Non-affiliate investments    
Cost 1,301,871 1,276,690
Affiliate investments    
Cost 212,180 200,013
Control investments    
Cost $ 8,613 $ 0
[1] As of September 30, 2024, the cumulative gross unrealized appreciation for U.S. federal income tax purposes was approximately $96.0 million; cumulative gross unrealized depreciation for federal income tax purposes was $125.6 million. Cumulative net unrealized depreciation was $29.6 million, based on a tax cost of $1,538.1 million.
[2] Equity ownership may be held in shares or units of a company that is either wholly owned by the portfolio company or under common control by the same parent company to the portfolio company.
[3] Negative cost in this column represents the original issue discount of certain undrawn revolvers and delayed draw term loans.
[4] Unless otherwise noted, all portfolio company headquarters are based in the United States.
[5] Affiliate investments are generally defined by the 1940 Act as investments in which between 5% and 25% of the voting securities are owned and the investments are not classified as control investments. At September 30, 2024, the Company held $201.9 million of affiliate investments, which represented approximately 13.4% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 25.5%.
[6] All debt investments are income-producing, unless otherwise noted. Equity investments are non-income producing, unless otherwise noted.
[7] Control investments are generally defined by the 1940 Act as investments in which more than 25% of the voting securities are owned. At September 30, 2024, the Company held $9.4 million of control investments, which represented approximately 0.6% of the Company's investment assets. The fair value of these investments as a percent of net assets is 1.2%.
[8] Non-Control/Non-Affiliate investments are generally defined by the 1940 Act as investments that are neither control investments nor affiliate investments. At September 30, 2024, the Company held $1,297.3 million of non-control/non-affiliate investments, which represented approximately 86.0% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 163.9%.
[9] As of March 31, 2024, the cumulative gross unrealized appreciation for U.S. federal income tax purposes was approximately $96.3 million; cumulative gross unrealized depreciation for federal income tax purposes was $96.4 million. Cumulative net unrealized depreciation was $0.1 million, based on a tax cost of $1,471.1 million.
[10] Equity ownership may be held in shares or units of a company that is either wholly owned by the portfolio company or under common control by the same parent company to the portfolio company.
[11] Negative cost in this column represents the original issue discount of certain undrawn revolvers and delayed draw term loans.
[12] Unless otherwise noted, all portfolio company headquarters are based in the United States.
[13] Affiliate investments are generally defined by the 1940 Act as investments in which between 5% and 25% of the voting securities are owned and the investments are not classified as control investments. At March 31, 2024, the Company held $190.2 million of affiliate investments, which represented approximately 12.9% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 25.2%.
[14] All debt investments are income-producing, unless otherwise noted. Equity investments are non-income producing, unless otherwise noted.
[15] Control investments are generally defined by the 1940 Act as investments in which more than 25% of the voting securities are owned. At March 31, 2024, the Company did not hold any control investments.
[16] Non-Control/Non-Affiliate investments are generally defined by the 1940 Act, as investments that are neither control investments nor affiliate investments. At March 31, 2024, the Company held $1,286.4 million of non-control/non-affiliate investments, which represented approximately 87.1% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 170.2%.