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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Investment income:        
Total investment income $ 358,557,000 $ 343,218,000 $ 1,061,125,000 $ 974,242,000
Expenses:        
Interest expense 94,691,000 88,191,000 279,954,000 233,752,000
Management fees (Note 3) 34,959,000 30,177,000 103,860,000 84,312,000
Income based incentive fees (Note 3) 31,254,000 38,163,000 100,273,000 111,388,000
Capital gains based incentive fees (Note 3) 0   0 264,000
Capital gains based incentive fees (Note 3)   (5,992,000)    
Professional fees 1,402,000 1,297,000 3,530,000 3,317,000
Board of Trustees’ fees 282,000 286,000 881,000 797,000
Administrative service expenses (Note 3) 766,000 525,000 2,476,000 1,966,000
Other general and administrative 1,497,000 740,000 3,780,000 2,899,000
Total expenses before tax expense 164,851,000 153,387,000 494,754,000 438,695,000
Net investment income before tax expense 193,706,000 189,831,000 566,371,000 535,547,000
Excise and other tax expense 4,232,000 3,928,000 12,199,000 10,698,000
Net investment income after tax expense 189,474,000 185,903,000 554,172,000 524,849,000
Net change in unrealized appreciation (depreciation):        
Net change in unrealized (appreciation) depreciation on investments     (89,206,000) 15,872,000
Derivative instruments (Note 6) 3,506,000 0 (1,541,000) 0
Translation of assets and liabilities in foreign currencies 405,000 (2,255,000) 1,125,000 (2,152,000)
Income tax (provision) benefit (101,000) 0 (1,875,000) 0
Net change in unrealized appreciation (depreciation), net of income tax (provision) benefit (36,323,000) (19,130,000) (91,497,000) 13,720,000
Net realized gain (loss):        
Non-controlled/non-affiliated investments     (1,977,000) (16,650,000)
Derivative instruments (Note 6) (53,000) 0 (9,780,000) 0
Foreign currency transactions (11,558,000) 2,164,000 (13,085,000) 9,686,000
Current tax expense on realized gains 167,000 0 (545,000) 0
Net realized gain (loss), net of tax expense (20,714,000) (15,109,000) (25,387,000) (6,964,000)
Net realized and change in unrealized gain (loss) (57,037,000) (34,239,000) (116,884,000) 6,756,000
Net increase (decrease) in net assets resulting from operations $ 132,437,000 $ 151,664,000 $ 437,288,000 $ 531,605,000
Net investment income, basic (in usd per share) $ 0.82 $ 0.91 $ 2.43 $ 2.68
Net investment income, diluted (in usd per share) 0.82 0.91 2.43 2.68
Earnings (loss) per share basic (in usd per share) 0.57 0.75 1.91 2.71
Earnings (loss) per share diluted (in usd per share) $ 0.57 $ 0.75 $ 1.91 $ 2.71
Weighted average shares outstanding basic (in shares) 230,462,792 203,419,337 228,424,998 196,003,012
Weighted average shares outstanding diluted (in shares) 230,462,792 203,419,337 228,424,998 196,003,012
Non-controlled/non-affiliated investments        
Investment income:        
Interest income $ 327,649,000 $ 321,401,000 $ 984,097,000 $ 907,356,000
Payment-in-kind interest income 28,934,000 20,530,000 71,630,000 63,868,000
Dividend income 801,000 11,000 850,000 200,000
Fee income 285,000 510,000 2,509,000 1,915,000
Net change in unrealized appreciation (depreciation):        
Net change in unrealized (appreciation) depreciation on investments (39,814,000) (16,794,000) (88,037,000) 16,746,000
Net realized gain (loss):        
Non-controlled/non-affiliated investments (9,270,000) (17,273,000) (1,977,000) (16,650,000)
Non-controlled/affiliated investments        
Investment income:        
Interest income 303,000 89,000 624,000 226,000
Payment-in-kind interest income 585,000 677,000 1,415,000 677,000
Net change in unrealized appreciation (depreciation):        
Net change in unrealized (appreciation) depreciation on investments $ (319,000) $ (81,000) $ (1,169,000) $ (874,000)