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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investment Income:      
Interest income $ 396,421 $ 355,530 $ 223,119
Payment-in-kind 10,709 4,276 1,626
Dividend income 2,591 2,124 1,488
Other income 6,354 5,808 4,360
Total investment income 416,075 367,738 230,593
Expenses:      
Interest and other financing expenses 122,928 112,883 67,182
Management fees 35,415 30,550 26,715
Income based incentive fees 43,467 42,012 26,635
Capital gains incentive fees 0 0 (2,441)
Professional fees 6,718 4,470 3,206
Directors’ fees 533 345 362
Administrative service fees 216 178 72
General and other expenses 97 633 510
Total expenses 209,374 191,071 122,241
Expense support (Note 3) 0 0 44
Management fees waiver (Note 3) (9,936) (22,913) (20,036)
Incentive fees waiver (Note 3) (6,035) 0 0
Net expenses 193,403 168,158 102,249
Net investment income (loss) before taxes 222,672 199,580 128,344
Excise tax expense 2,437 1,519 334
Net investment income (loss) after taxes 220,235 198,061 128,010
Realized gain (loss):      
Net realized gain (loss) on non-controlled/non-affiliated investments (16,480) 118 537
Foreign currency and other transactions 13 0 0
Net realized gain (loss) (16,467) 118 537
Net change in unrealized appreciation (depreciation):      
Net change in unrealized appreciation (depreciation) on non-controlled/non-affiliated investments 11,904 32,835 (80,005)
Translation of assets and liabilities in foreign currencies (108) 0 0
Net unrealized appreciation (depreciation) 11,796 32,835 (80,005)
Net realized and unrealized gain (loss) (4,671) 32,953 (79,468)
Net increase (decrease) in net assets resulting from operations $ 215,564 $ 231,014 $ 48,542
Net investment income (loss) per share (basic and diluted) (in dollars per share) $ 2.48 $ 2.67 $ 2.08
Earnings per share - basic (in dollars per share) 2.43 3.11 0.79
Earnings per share - diluted (in dollars per share) $ 2.43 $ 3.11 $ 0.79
Weighted average shares outstanding - basic (in shares) 88,649,149 74,239,743 61,676,363
Weighted average shares outstanding - diluted (in shares) 88,649,149 74,239,743 61,676,363