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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Investment income:        
Total investment income $ 99,508 $ 104,188 $ 200,966 $ 203,289
Expenses:        
Interest and other financing expenses 34,707 29,302 68,886 56,562
Management fees 9,624 8,639 19,242 16,869
Income based incentive fees 9,279 11,554 19,122 22,890
Professional fees 1,698 1,687 3,306 2,904
Directors’ fees 130 128 259 274
Administrative service fees 85 17 145 42
General and other expenses 128 51 310 159
Total expenses 55,651 51,378 111,270 99,700
Management fees waiver (Note 3) 0 (2,160) (641) (5,257)
Incentive fees waiver (Note 3) 0 (1,651) (375) (2,862)
Net expenses 55,651 47,567 110,254 91,581
Net investment income (loss) before taxes 43,857 56,621 90,712 111,708
Excise tax expense 200 500 827 936
Net investment income (loss) after taxes 43,657 56,121 89,885 110,772
Net realized and unrealized gain (loss):        
Net realized gain (loss) on non-controlled/non-affiliated investments     587 (5,517)
Foreign currency and other transactions 66 0 53 0
Net realized gain (loss) 91 108 640 (5,517)
Translation of assets and liabilities in foreign currencies 101 0 100 0
Net unrealized appreciation (depreciation) (7,652) 2,816 (24,759) 5,474
Net realized and unrealized gain (loss) (7,561) 2,924 (24,119) (43)
Net increase (decrease) in net assets resulting from operations $ 36,096 $ 59,045 $ 65,766 $ 110,729
Net investment income (loss) per share - basic (in dollars per share) $ 0.50 $ 0.63 $ 1.02 $ 1.25
Net investment income (loss) per share - diluted (in dollars per share) 0.50 0.63 1.02 1.25
Earnings per share - basic (in dollars per share) 0.41 0.66 0.75 1.25
Earnings per share - diluted (in dollars per share) $ 0.41 $ 0.66 $ 0.75 $ 1.25
Weighted average shares outstanding - basic (in shares) 87,189,801 89,271,839 87,798,346 88,315,183
Weighted average shares outstanding - diluted (in shares) 87,189,801 89,271,839 87,798,346 88,315,183
From non-controlled/non-affiliated investments:        
Investment income:        
Interest income $ 93,752 $ 99,072 $ 188,693 $ 193,703
Payment-in-kind income 3,815 2,850 8,003 5,494
Dividend income 650 646 1,244 1,211
Other income 1,175 1,620 2,870 2,881
Net realized and unrealized gain (loss):        
Net realized gain (loss) on non-controlled/non-affiliated investments 25 108 587 (5,517)
Net change in unrealized appreciation (depreciation) (7,751) 2,816 (24,899) 5,474
From non-controlled/affiliated investments:        
Investment income:        
Interest income 44 0 70 0
Payment-in-kind income 72 0 86 0
Net realized and unrealized gain (loss):        
Net change in unrealized appreciation (depreciation) $ (2) $ 0 $ 40 $ 0