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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:              
Net increase (decrease) in net assets resulting from operations   $ 43,359 $ 45,410 $ 87,359 $ 94,717    
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       1,640 (224)    
Net realized (gain) loss on foreign currency forward contracts       1,130 (2)    
Net realized (gain) loss on foreign currency and other transactions   (1,275) (112) (1,229) (94)    
Net change in unrealized (gain) loss on investments       10,560 (5,222)    
Net change in unrealized (gain) loss on foreign currency forward contracts   2,086 672 2,833 (1,681)    
Net change in unrealized (gain) loss on foreign currency and other transactions   7,269 346 10,026 (293)    
Payment-in-kind interest capitalized       (8,821) (6,009)    
Net accretion of discounts and amortization of premiums       (7,771) (5,089)    
Purchases of investments       (1,558,894) (1,062,640)    
Proceeds from principal payments and sale of investments and settlement of forward contracts       484,706 220,306    
Amortization of debt issuance costs   2,289 2,226 5,142 4,225    
Changes in operating assets and liabilities:              
Interest and dividend receivable       (17,394) (11,528)    
Receivable for unsettled trades       (13,249) (9,085)    
Other assets       (870) 393    
Interest payable       4,158 2,803    
Payable for unsettled trades       (39,869) (50,015)    
Base management fees payable       3,107 2,567    
Incentive fees payable       (750) 2,740    
Accounts payable and accrued expenses       3,628 4,484    
Net cash provided by (used in) operating activities       (1,034,558) (819,647)    
Cash flows from financing activities:              
Borrowings on debt       1,822,331 1,328,223    
Repayments of debt       (1,240,520) (799,477)    
Debt issuance costs capitalized       (3,723) (3,428)    
Proceeds from issuance of common stock       486,757 386,721    
Repurchases of common stock       (22,410) (32,252)    
Stockholder distributions paid       (65,167) (46,375)    
Net cash provided by (used in) financing activities       977,268 833,412    
Net increase (decrease) in cash and restricted cash and cash equivalents       (57,290) 13,765    
Effect of foreign currency exchange rates       21 (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 $ 196,755 196,755 91,518 196,755 91,518 254,024  
Supplemental disclosure of cash flow information:              
Cash interest paid during the period       74,565 50,564    
Cash paid for income taxes, including excise taxes, during the period       1,128 554    
Supplemental disclosure of non-cash activities:              
Stock issued in connection with dividend reinvestment plan 26,952 26,952 18,862 50,729 33,266    
Reconciliation of cash and restricted cash              
Cash and cash equivalents 53,298 53,298 19,370 53,298 19,370 129,634 $ 17,586
Restricted cash and cash equivalents 143,457 143,457 72,148 143,457 72,148 124,390 60,169
Total cash and restricted cash and cash equivalents shown on the Consolidated Statements of Cash Flows $ 196,755 $ 196,755 $ 91,518 $ 196,755 $ 91,518 $ 254,024 $ 77,755