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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Investment income:        
Payment-in-kind interest income $ 5,676 $ 3,008 $ 8,821 $ 6,002
Dividend income 1,409 411 1,890 563
Other income 375 2,559 830 2,660
Total investment income 133,287 97,812 246,717 181,796
Operating expenses:        
Interest and other debt financing expenses 44,272 30,372 83,865 57,592
Base management fees 15,868 10,007 29,944 18,627
Incentive fees 8,293 6,487 14,579 13,531
Professional fees 694 551 1,423 1,054
Administrative service fees 1,096 604 2,058 1,249
General and administrative expenses 1,094 914 2,043 1,993
Directors’ fees 37 37 75 75
Total operating expenses 71,354 48,972 133,987 94,121
Net investment income before income taxes 61,933 48,840 112,730 87,675
Income taxes, including excise taxes 36 349 411 474
Net investment income 61,897 48,491 112,319 87,201
Net realized gain (loss):        
Non-controlled/non-affiliate company investments     (1,640) 224
Foreign currency forward contracts (1,184) 0 (1,130) 2
Foreign currency and other transactions 1,275 112 1,229 94
Net realized gain (loss) (1,667) 332 (1,541) 320
Net change in unrealized gain (loss):        
Unrealized gain (loss) of investments     (10,560) 5,222
Foreign currency forward contracts (2,086) (672) (2,833) 1,681
Foreign currency and other transactions (7,269) (346) (10,026) 293
Net change in unrealized gain (loss) (16,871) (3,413) (23,419) 7,196
Net gain (loss) (18,538) (3,081) (24,960) 7,516
Net increase (decrease) in net assets resulting from operations $ 43,359 $ 45,410 $ 87,359 $ 94,717
Per common share data:        
Net investment income per share - basic (in dollars per share) $ 0.26 $ 0.31 $ 0.51 $ 0.60
Net investment income per share - diluted (in dollars per share) 0.26 0.31 0.51 0.60
Net increase (decrease) in net assets resulting from operations per share - basic (in dollars per share) 0.18 0.29 0.39 0.65
Net increase (decrease) in net assets resulting from operations per share - diluted (in dollars per share) $ 0.18 $ 0.29 $ 0.39 $ 0.65
Weighted average common shares outstanding - basic (in shares) 240,969 158,338 222,149 145,042
Weighted average common shares outstanding - diluted (in shares) 240,969 158,338 222,149 145,042
Non-controlled/non-affiliate company investments        
Investment income:        
Interest income $ 123,998 $ 90,564 $ 231,559 $ 170,272
Payment-in-kind interest income 5,114 2,931 7,742 5,856
Dividend income 628 411 1,109 563
Other income 333 2,559 788 2,660
Total investment income 130,073 96,465 241,198 179,351
Net realized gain (loss):        
Non-controlled/non-affiliate company investments (1,758) 220 (1,640) 224
Net change in unrealized gain (loss):        
Unrealized gain (loss) of investments (3,473) 7,017 (6,294) 15,277
Non-controlled/affiliate company investments        
Investment income:        
Interest income 1,829 1,270 3,617 2,299
Payment-in-kind interest income 562 77 1,079 146
Dividend income 781 0 781 0
Other income 42 0 42 0
Total investment income 3,214 1,347 5,519 2,445
Net realized gain (loss):        
Non-controlled/non-affiliate company investments     0 0
Net change in unrealized gain (loss):        
Unrealized gain (loss) of investments $ (4,043) $ (9,412) $ (4,266) $ (10,055)