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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Investment income:    
Payment-in-kind interest income $ 3,145 $ 2,994
Dividend income 481 152
Other income 455 101
Total investment income 113,430 83,984
Operating expenses:    
Interest and other debt financing expenses 39,593 27,220
Base management fees 14,076 8,620
Incentive fees 6,286 7,044
Professional fees 729 503
Administrative service fees 962 645
General and administrative expenses 949 1,079
Directors’ fees 38 38
Total operating expenses 62,633 45,149
Net investment income before income taxes 50,797 38,835
Income taxes, including excise taxes 375 125
Net investment income 50,422 38,710
Net realized gain (loss):    
Non-controlled/non-affiliate company investments 118 4
Foreign currency forward contracts 54 2
Foreign currency and other transactions (46) (18)
Net realized gain (loss) 126 (12)
Net change in unrealized gain (loss):    
Unrealized gain (loss) of investments (3,044) 7,617
Foreign currency forward contracts (747) 2,353
Foreign currency and other transactions (2,757) 639
Net change in unrealized gain (loss) (6,548) 10,609
Net gain (loss) (6,422) 10,597
Net increase (decrease) in net assets resulting from operations $ 44,000 $ 49,307
Per common share data:    
Net investment income per share - basic (in dollars per share) $ 0.25 $ 0.29
Net investment income per share - diluted (in dollars per share) 0.25 0.29
Net increase (decrease) in net assets resulting from operations per share - basic (in dollars per share) 0.22 0.37
Net increase (decrease) in net assets resulting from operations per share - diluted (in dollars per share) $ 0.22 $ 0.37
Weighted average common shares outstanding - basic (in shares) 203,120 131,745
Weighted average common shares outstanding - diluted (in shares) 203,120 131,745
Non-controlled/non-affiliate company investments    
Investment income:    
Interest income $ 107,561 $ 79,698
Payment-in-kind interest income 2,628 2,925
Dividend income 481 152
Other income 455 111
Total investment income 111,125 82,886
Net realized gain (loss):    
Non-controlled/non-affiliate company investments 118 4
Net change in unrealized gain (loss):    
Unrealized gain (loss) of investments (2,821) 8,260
Non-controlled/affiliate company investments    
Investment income:    
Interest income 1,788 1,029
Payment-in-kind interest income 517 69
Other income 0 0
Total investment income 2,305 1,098
Net realized gain (loss):    
Non-controlled/non-affiliate company investments 0 0
Net change in unrealized gain (loss):    
Unrealized gain (loss) of investments $ (223) $ (643)