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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Investment income:        
Total investment income $ 343,218 $ 283,959 $ 974,242 $ 839,263
Expenses:        
Interest expense 88,191 65,253 233,752 198,129
Management fees (Note 3) 30,177 24,219 84,312 73,190
Income based incentive fees payable 38,163 33,410 111,388 98,294
Capital gains based incentive fees payable (5,992) 1,484 264 (4,022)
Professional fees 1,297 1,814 3,317 4,021
Board of Trustees’ fees 286 222 797 682
Administrative service expenses (Note 3) 525 544 1,966 1,598
Other general and administrative 740 2,062 2,899 5,669
Total expenses before excise tax 153,387 129,008 438,695 377,561
Management fees waived (Note 3) 0 (6,055) 0 (18,298)
Incentive fees waived (Note 3) 0 (4,773) 0 (14,043)
Net expenses before excise tax 153,387 118,180 438,695 345,220
Net investment income before excise tax 189,831 165,779 535,547 494,043
Excise tax expense 3,928 4,988 10,698 12,589
Net investment income after excise tax 185,903 160,791 524,849 481,454
Net change in unrealized appreciation (depreciation):        
Net change in unrealized (appreciation) depreciation on investments     15,872 (27,800)
Translation of assets and liabilities in foreign currencies (2,255) (133) (2,152) (3,499)
Net change in unrealized appreciation (depreciation) (19,130) 20,740 13,720 (31,299)
Net realized gain (loss):        
Non-controlled/non-affiliated investments     (16,650) (13,295)
Foreign currency transactions 2,164 (1,540) 9,686 17,783
Net realized gain (loss) (15,109) (10,536) (6,964) 4,488
Net realized and change in unrealized gain (loss) (34,239) 10,204 6,756 (26,811)
Net increase (decrease) in net assets resulting from operations $ 151,664 $ 170,995 $ 531,605 $ 454,643
Net investment income (in usd per share) $ 0.91 $ 0.95 $ 2.68 $ 2.94
Earnings (loss) per share basic (in usd per share) 0.75 1.01 2.71 2.77
Earnings (loss) per share diluted (in usd per share) $ 0.75 $ 1.01 $ 2.71 $ 2.77
Weighted average shares outstanding basic (in shares) 203,419,337 169,843,500 196,003,012 163,842,428
Weighted average shares outstanding diluted (in shares) 203,419,337 169,843,500 196,003,012 163,842,428
Non-controlled/non-affiliated investments        
Investment income:        
Interest income $ 321,401 $ 272,464 $ 907,356 $ 800,599
Payment-in-kind interest income 20,530 10,689 63,868 31,805
Dividend income 11 213 200 373
Fee income 510 593 1,915 6,486
Net change in unrealized appreciation (depreciation):        
Net change in unrealized (appreciation) depreciation on investments (16,794) 20,388 16,746 (14,830)
Net realized gain (loss):        
Non-controlled/non-affiliated investments (17,273) (8,996) (16,650) (20,502)
Non-controlled/affiliated investments        
Investment income:        
Interest income 89 0 226 0
Payment-in-kind interest income 677 0 677 0
Net change in unrealized appreciation (depreciation):        
Net change in unrealized (appreciation) depreciation on investments (81) 485 (874) (12,970)
Net realized gain (loss):        
Non-controlled/non-affiliated investments $ 0 $ 0 $ 0 $ 7,207