XML 18 R6.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:          
Net increase (decrease) in net assets resulting from operations   $ 44,000 $ 49,307    
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   (118) (4)    
Net realized (gain) loss on foreign currency forward contracts   (54) (2)    
Net realized (gain) loss on foreign currency and other transactions   46 18    
Net change in unrealized (gain) loss on investments   3,044 (7,617)    
Net change in unrealized (gain) loss on foreign currency forward contracts   747 (2,353)    
Net change in unrealized (gain) loss on foreign currency and other transactions   2,757 (639)    
Payment-in-kind interest capitalized   (3,145) (2,994)    
Net accretion of discounts and amortization of premiums   (4,126) (2,602)    
Purchases of investments   (718,672) (363,194)    
Proceeds from principal payments and sale of investments and settlement of forward contracts   211,371 90,345    
Amortization of debt issuance costs   2,853 1,999    
Changes in operating assets and liabilities:          
Interest and dividend receivable   (7,185) (5,327)    
Receivable for unsettled trades   (1,424) 0    
Other assets   (765) 296    
Interest payable   9,912 4,410    
Payable for unsettled trades   33,470 (7,315)    
Base management fees payable   1,315 1,180    
Incentive fees payable   (1,955) 1,972    
Accounts payable and accrued expenses   1,322 621    
Directors’ fees payable   38 38    
Net cash provided by (used in) operating activities   (426,569) (241,861)    
Cash flows from financing activities:          
Borrowings on debt   781,795 385,600    
Repayments of debt   (687,010) (384,635)    
Debt issuance costs capitalized   (3,531) (303)    
Proceeds from issuance of common stock   376,854 264,847    
Repurchases of common stock   (8,037) (20,442)    
Stockholder distributions paid   (29,873) (19,949)    
Net cash provided by (used in) financing activities   430,198 225,118    
Net increase (decrease) in cash and restricted cash and cash equivalents   3,629 (16,743)    
Effect of foreign currency exchange rates   1 (2)    
Cash and restricted cash and cash equivalents, beginning of period   254,024 77,755 $ 77,755  
Cash and restricted cash and cash equivalents, end of period $ 257,654 257,654 61,010 254,024  
Supplemental disclosure of cash flow information:          
Cash interest paid during the period   26,828 20,811    
Cash paid for income taxes, including excise taxes, during the period   1,100 450    
Supplemental disclosure of non-cash activities:          
Stock issued in connection with dividend reinvestment plan 23,777 23,777 14,404    
Reconciliation of cash and restricted cash          
Cash and cash equivalents 125,543 125,543 13,197 129,634 $ 17,586
Restricted cash and cash equivalents 132,111 132,111 47,813 124,390 60,169
Total cash and restricted cash and cash equivalents shown on the Consolidated Statements of Cash Flows $ 257,654 $ 257,654 $ 61,010 $ 254,024 $ 77,755