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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net increase (decrease) in net assets resulting from operations $ 3,484,528 $ 3,363,183 $ 663,070
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Net change in unrealized (appreciation) depreciation on investments 114,191 (632,049) 1,050,537
Net change in unrealized (appreciation) depreciation on derivative instruments (25,699) 13,259 4,301
Net change in unrealized (appreciation) depreciation on foreign currency and other transactions 2,074 3,085 (9,160)
Net realized (gain) loss on investments 176,654 308,564 252,197
Net realized (gain) loss on derivative instruments 0 (3,063) 0
Net realized (gain) loss on foreign currency and other transactions 0 5,483 0
Net change due to hedging activity 424 0 0
Payment-in-kind interest capitalized (366,024) (236,822) (140,006)
Net accretion of discount and amortization of premium (215,203) (172,875) (147,923)
Amortization of deferred financing costs 37,786 31,362 25,136
Amortization of debt issuance costs and original issue discount on notes 33,408 27,699 20,823
Amortization of offering costs 3,851 3,253 5,036
Purchases of investments (25,250,002) (7,536,897) (27,899,547)
Proceeds from sale of investments and principal repayments 7,690,627 6,551,603 8,698,004
Changes in operating assets and liabilities:      
Receivable from broker 12,683 89,169 (355,742)
Receivable for investments 62,622 1,195,925 (633,791)
Derivative instruments, net (16,963) 0 0
Other assets 0 5,088 (4,299)
Payable for investments 180,012 (1,275,443) 348,173
Management fees payable 32,831 13,880 38,354
Income based incentive fees payable 21,781 28,826 58,113
Capital gains based incentive fees payable 0 0 (15,058)
Interest payable 75,407 6,597 265,706
Due to affiliates (2,856) (15,390) 29,619
Accrued expenses and other liabilities 19,362 6,803 22,811
Net cash provided by (used in) operating activities (14,083,632) 1,823,327 (18,185,749)
Cash flows from financing activities:      
Borrowings on debt 12,405,681 3,684,216 20,297,052
Repayments on debt (4,979,693) (7,235,455) (11,744,062)
Deferred financing costs paid (75,013) (26,087) (59,410)
Debt issuance costs paid (16,305) (15,918) (7,947)
Deferred offering costs paid (4,599) (1,733) (4,865)
Proceeds from issuance of common shares 10,785,653 7,004,144 12,363,189
Repurchased shares, net of early repurchase deduction paid (2,096,971) (3,750,742) (1,009,799)
Dividends paid in cash (1,768,522) (1,350,683) (938,436)
Net cash provided by (used in) financing activities 14,250,231 (1,692,258) 18,895,722
Net increase (decrease) in cash and cash equivalents 166,599 131,069 709,973
Effect of foreign exchange rate changes on cash and cash equivalents 2,310 (1,200) 23,942
Cash and cash equivalents, beginning of period 1,481,770 1,351,901 617,986
Cash and cash equivalents, end of period 1,650,679 1,481,770 1,351,901
Supplemental information and non-cash activities:      
Interest paid during the period 2,034,750 1,946,485 799,997
Distribution payable 331,762 245,032 198,736
Reinvestment of dividends during the period 1,630,598 1,146,098 761,111
Accrued but unpaid debt financing costs 12 0 1,204
Accrued but unpaid debt issuance costs 2,013 0 1,514
Accrued but unpaid offering costs 616 6 6
Share repurchases accrued but not yet paid 531,058 532,774 1,158,283
Excise taxes paid 26,402 5,968 0
Investments contributed in-kind to joint ventures (Note 11) 0 0 459,430
Non-controlled/non-affiliated investments      
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Net change in unrealized (appreciation) depreciation on investments (57,540) (550,279) 1,007,789
Net realized (gain) loss on investments 176,654 308,777 252,197
Changes in operating assets and liabilities:      
Interest receivable (197,001) 70,730 (392,139)
Controlled/affiliated investments      
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Net change in unrealized (appreciation) depreciation on investments 170,626 (81,923) 43,810
Changes in operating assets and liabilities:      
Interest receivable (96) 0 0
Dividends receivable $ 41,971 $ (28,643) $ (69,964)