Distributions (Tables)

12 Months Ended

Dec. 31, 2023

Cash Distributions Paid on Common Stock Including Tax Basis

The following table reflects the cash distributions per share that the Company has declared on its Common Shares during the years ended December 31, 2023 and 2022:


	Distribution
For the Year Ended December 31, 2023	Per Share		Amount
2022	$	—	$	—




2023	$	0.96	$	8,119

The following table reflects the sources of the cash distributions on a tax basis that the Company has paid on its common stock during the year ended December 31, 2023:


	Year Ended December 31,
	2023
Source of Distribution	Distribution Amount		Percentage
Offering proceeds	$	—	—
Borrowings	—		—
Net investment income(1)	8,119		100	%
Short-term capital gains proceeds from the sale of assets	—		—
Long-term capital gains proceeds from the sale of assets	—		—
Non-capital gains proceeds from the sale of assets	—		—
Distributions on account of preferred and common equity	—		—
Total	$	8,119	100	%

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(1)During the year ended December 31, 2023, 98.3% of the Company's gross investment income was attributable to cash income earned, 1.5% was attributable to non-cash accretion of discount and 0.2% was attributable to paid-in-kind, or PIK, interest.

Reconciliation of Net Investment Income and Tax-basis Net Investment Income

The following table sets forth a reconciliation between GAAP-basis net investment income and tax-basis net investment income during the year ended December 31, 2023:


	Year Ended December 31,
	2023
GAAP-basis net investment income	$	10,045
Reversal of capital gains incentive fee	390

Excise taxes	73

Reclassification of unamortized original issue discount and prepayment fees	(405)
Other miscellaneous differences	(228)
Tax-basis net investment income	$	9,875

Components of Accumulated Earnings

As of December 31, 2023, the components of accumulated earnings on a tax basis were as follows:


	Year Ended December 31,
	2023
Distributable ordinary income	$	2,120
Distributable realized gains (accumulated capital losses)	—


Other temporary differences	(390)
Net unrealized appreciation (depreciation)(1)	3,268
Total	$	4,998

________________

(1)As of December 31, 2023, the Company’s gross unrealized appreciation on a tax basis was $3,854. As of December 31, 2023, the Company’s gross unrealized depreciation on a tax basis was $586.