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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net increase (decrease) in net assets resulting from operations $ 114,558 $ 45,841 $ 27,923
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Net realized (gain) loss on investments 403 17 (488)
Net realized (gain) loss on foreign currency forward contracts (1,755) (664) (29)
Net realized (gain) loss on foreign currency and other transactions (272) 4 47
Net change in unrealized (gain) loss on investments (1,459) 5,330 (8,982)
Net change in unrealized (gain) loss on foreign currency forward contracts 4,383 (711) (742)
Net change in unrealized (gain) loss on foreign currency and other transactions 28 (1) 0
Payment-in-kind interest income (7,694) (5,920) (1,298)
Net accretion of discounts and amortization of premiums (5,713) (2,616) (996)
Purchases of investments (1,223,968) (901,557) (592,142)
Proceeds from principal payments and sale of investments and settlement of forward contracts 181,287 141,304 89,181
Amortization of deferred financing costs 5,741 2,263 907
Changes in operating assets and liabilities:      
Interest and dividend receivable (16,258) (7,853) (3,904)
Other assets 8,085 (9,478) 179
Interest payable 7,126 5,105 1,758
Payable for unsettled trades 43,765 13,690 0
Management fees payable 3,188 1,886 2,273
Incentive fees payable 2,016 1,496 1,808
Accounts payable and accrued expenses 2,818 6,235 2,274
Net cash provided by (used in) operating activities (883,721) (705,629) (482,231)
Cash flows from financing activities:      
Proceeds from Short-Term Borrowings 180,198 0 0
Repayments of Short-Term Borrowings (180,198) 0 0
Payments of deferred financing costs (8,439) (10,562) (3,583)
Proceeds from issuance of common shares 540,971 381,995 219,753
Repurchases of common stock (43,342) (13,385) 0
Stockholder distributions paid, net of stock issued under the dividend reinvestment plan of $40,892, $15,349 and $5,977, respectively) (64,436) (28,983) (15,741)
Net cash provided by (used in) financing activities 909,271 743,865 490,129
Net increase (decrease) in Cash and Restricted cash and cash equivalents 25,550 38,236 7,898
Effect of foreign currency exchange rates 1 (3) (47)
Cash and Restricted cash and cash equivalents, beginning of year 52,204 13,971 6,120
Cash and Restricted cash and cash equivalents, end of year 77,755 52,204 13,971
Supplemental disclosure of cash flow information:      
Cash interest paid during the year 49,061 14,366 3,371
Cash paid for income taxes, including excise taxes, during the year 289 111 0
Reconciliation of cash and restricted cash      
Cash and cash equivalents 17,586 5,716 4,998
Restricted cash and cash equivalents 60,169 46,488 8,973
Total cash and restricted cash and cash equivalents shown on the Consolidated Statements of Cash Flows 77,755 52,204 13,971
2022 ABS      
Cash flows from financing activities:      
Borrowings 0 306,000 0
2023 ABS      
Cash flows from financing activities:      
Borrowings 185,850 0 0
Term Loan      
Cash flows from financing activities:      
Borrowings 55,000 100,000 0
Repayments (34,712) 0 0
SPV Credit Facility      
Cash flows from financing activities:      
Borrowings 901,100 951,900 591,500
Repayments (1,079,500) (943,100) (301,800)
Revolving Credit Facility      
Cash flows from financing activities:      
Borrowings 337,879 0 0
Repayments (81,100) 0 0
2028 Notes      
Cash flows from financing activities:      
Borrowings $ 200,000 $ 0 $ 0