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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Tax Character of Distributions
For income tax purposes, distributions made to the Company’s stockholders are reported as ordinary income, capital gains, or a combination thereof. The tax character of distributions made were as follows:
For the Year Ended
 December 31, 2024December 31, 2023December 31, 2022
Distributions paid from:
Ordinary income (including net short-term capital gains)$195,611 $168,975 $119,433 
Net long-term capital gains118 316 4 
Total taxable distributions$195,729 $169,291 $119,437 
Schedule of Distributable Earnings
The following table shows the components of total distributable earnings (loss) as shown on the Consolidated Statements of Assets and Liabilities:
As of
December 31, 2024December 31, 2023December 31, 2022
Total distributable earnings (loss), beginning of period$8,459 $(54,779)$15,782 
Net investment income (loss) after taxes220,235 198,061 128,010 
Net realized gain (loss)(16,467)118 537 
Net unrealized appreciation (depreciation)11,796 32,835 (80,005)
Dividends declared(195,729)(169,291)(119,437)
Tax reclassification of stockholders’ equity1,330 1,515 334 
Total distributable earnings (loss), end of period$29,624 $8,459 $(54,779)
The book-to-tax differences relating to distributions made to the Company’s stockholders resulted in reclassifications among certain capital accounts as follows:
As of
December 31, 2024December 31, 2023December 31, 2022
Paid-in capital in excess of par value$(1,330)$(1,515)$(334)
Total distributable earnings (loss)1,330 1,515 334 
Schedule of Cost of Investments
The cost and unrealized gain (loss) on the Company’s consolidated financial instruments, as calculated on a tax basis, were as follows (amounts calculated using book-to-tax differences as of the most recent fiscal year ended December 31, 2024, December 31, 2023 and December 31, 2022):
As of
December 31, 2024December 31, 2023December 31, 2022
Gross unrealized appreciation$38,155 $19,066 $6,529 
Gross unrealized depreciation(59,527)(52,242)(72,587)
Net unrealized appreciation (depreciation)$(21,372)$(33,176)$(66,058)
Tax cost of investments at year end$3,813,066 $3,226,720 $2,939,635