Derivatives (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The tables below present the aggregate notional amount and fair value of the Company’s derivative financial instruments as of September 30, 2023 and December 31, 2022.

	September 30, 2023
	Level 1		Level 2		Level 3		Total Fair Value		Notional
Derivative Assets
Foreign currency forward contract	$	—	$	2,316	$	—	$	2,316	$	—
Total Derivative assets at fair value	$	—	$	2,316	$	—	$	2,316	$	—
Cash collateral received							$	—
Derivative Liabilities
Foreign currency forward contract	$	—	$	(1,286)	$	—	$	(1,286)	$	277,279
Interest rate swaps	—		(269,324)		—		(269,324)		6,030,375
Total Derivative liabilities at fair value	$	—	$	(270,610)	$	—	$	(270,610)	$	6,307,654
Cash collateral posted							$	368,323

	December 31, 2022
	Level 1		Level 2		Level 3		Total Fair Value		Notional
Derivative Assets
Foreign currency forward contract	$	—	$	3,952	$	—	$	3,952	$	157,384
Total Derivative assets at fair value	$	—	$	3,952	$	—	$	3,952	$	157,384
Cash collateral received							$	—
Derivative Liabilities
Foreign currency forward contract	$	—	$	(2,040)	$	—	$	(2,040)	$	162,174
Interest rate swaps	—		(248,311)		—		(248,311)		5,975,000
Total Derivative liabilities at fair value	$	—	$	(250,351)	$	—	$	(250,351)	$	6,137,174
Cash collateral posted							$	355,742

The unrealized gains and losses on the derivative assets and derivative liabilities not designated in a qualifying hedge accounting relationship are included within Net change in unrealized appreciation (depreciation) on Derivative instruments in the Condensed Consolidated Statements of Operations. The realized gains and losses on the derivative assets and derivative liabilities not designated in a qualifying hedge accounting relationship are included within Foreign currency and other transactions in the Condensed Consolidated Statements of Operations.

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Unrealized gain (loss)
Foreign currency forward contract	$	7,661	$	(452)	$	(7,305)	$	(2,499)
Total Unrealized gain (loss)	$	7,661	$	(452)	$	(7,305)	$	(2,499)
Realized gain (loss)
Foreign currency forward contract	$	2,704	$	(2,412)	$	5,010	$	(33,326)
Interest rate swaps	—		—		—		—
Total Realized gain (loss)	$	2,704	$	(2,412)	$	5,010	$	(33,326)

For derivative instruments designated in qualifying hedge relationships, the change in fair value of the hedging instrument and hedged item are recorded in Interest expense and recognized as components of Interest expense in the Condensed Consolidated Statements of Operations.

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Interest rate swaps	$	2,953	$	(167,469)	$	(21,013)	$	(263,674)
Hedged items	(2,662)		165,162		20,574		262,336

The table below presents the carrying value of unsecured borrowings as of September 30, 2023 that are designated in a qualifying hedging relationship and the related cumulative hedging adjustment (increase/(decrease)) from current and prior hedging relationships included in such carrying values:

Description	Carrying Value		Cumulative Hedging Adjustments
Unsecured notes	$	5,718,995	$	(266,864)