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CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2025
Mar. 31, 2025
Cost $ 1,798,438 [1],[2],[3],[4],[5] $ 1,779,360 [6],[7],[8],[9],[10],[11]
Accumulated amortization 11,061 10,357
Unamortized debt issuance costs $ 12,925 $ 13,810
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) 55,227,370 52,912,796
Common stock, outstanding (in shares) 55,227,370 52,912,796
SBA Debentures    
Unamortized debt issuance costs $ 3,885 $ 4,082
October 2026 Notes    
Unamortized debt issuance costs 962 1,154
August 2028 Notes    
Unamortized debt issuance costs 1,555 1,681
2029 Convertible Notes    
Unamortized debt issuance costs 6,523 6,893
Non-control/Non-affiliate investments    
Cost 1,438,979 1,403,623
Affiliate investments    
Cost 287,517 304,824
Control investments    
Cost $ 71,942 $ 70,913
[1] All debt investments are income-producing, unless otherwise noted. Equity investments are non-income producing, unless otherwise noted. All amounts are stated in U.S. Dollars.
[2] Non-Control/Non-Affiliate investments are generally defined by the 1940 Act as investments that are neither control investments nor affiliate investments. Investments are classified as non-control/non-affiliate investments, unless otherwise noted. At June 30, 2025, the Company held $1,449.5 million of non-control/non-affiliate investments, which represented approximately 81.4% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 158.1%.
[3] As of June 30, 2025, the cumulative gross unrealized appreciation for U.S. federal income tax purposes was approximately $103.8 million; cumulative gross unrealized depreciation for federal income tax purposes was $119.7 million. Cumulative net unrealized depreciation was $15.9 million, based on a tax cost of $1,796.1 million.
[4] 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.
[5] Unless otherwise noted, all portfolio company headquarters are based in the United States.
[6] As of March 31, 2025, the cumulative gross unrealized appreciation for U.S. federal income tax purposes was approximately $117.4 million; cumulative gross unrealized depreciation for federal income tax purposes was $108.2 million. Cumulative net unrealized depreciation was $9.2 million, based on a tax cost of $1,776.1 million.
[7] 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.
[8] Negative cost in this column represents the original issue discount of certain undrawn revolvers and delayed draw term loans.
[9] Unless otherwise noted, all portfolio company headquarters are based in the United States.
[10] All debt investments are income-producing, unless otherwise noted. Equity investments are non-income producing, unless otherwise noted. All amounts are stated in U.S. Dollars.
[11] Non-Control/Non-Affiliate investments are generally defined by the 1940 Act as investments that are neither control investments nor affiliate investments. Investments are classified as non-control/non-affiliate investments, unless otherwise noted. At March 31, 2025, the Company held $1,436.3 million of non-control/non-affiliate investments, which represented approximately 80.5% of the Company’s investment assets. The fair value of these investments as a percent of net assets is 162.6%.