v3.25.1
Unaudited Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Investment income    
Paid-in-kind interest income $ 64.0 $ 25.0
Total investment income 400.0 434.0
Operating expenses    
Management fees 52.0 55.0
Subordinated income incentive fees [1] 39.0 43.0
Administrative services expenses 3.0 3.0
Accounting and administrative fees 1.0 1.0
Interest expense [2] 113.0 116.0
Other general and administrative expenses 5.0 4.0
Total operating expenses 213.0 222.0
Net investment income 187.0 212.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: (18.0) (243.0)
Net realized gain (loss) on foreign currency forward contracts 0.0 0.0
Net realized gain (loss) on foreign currency 1.0 (3.0)
Net change in unrealized appreciation (depreciation) on investments: (14.0) 186.0
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts (10.0) 8.0
Net change in unrealized gain (loss) on foreign currency (26.0) 13.0
Total net realized and unrealized gain (loss) (67.0) (39.0)
Net increase (decrease) in net assets resulting from operations $ 120.0 $ 173.0
Per share information—basic and diluted    
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - basic (in dollars per share) $ 0.43 $ 0.62
Net increase (decrease) in net assets resulting from operations (Earnings (Losses) per Share) - diluted (in dollars per share) $ 0.43 $ 0.62
Weighted average shares outstanding - basic (in shares) 280,066,433 280,066,433
Weighted average shares outstanding - diluted (in shares) 280,066,433 280,066,433
Non-controlled/unaffiliated    
Investment income    
Interest income $ 217.0 $ 288.0
Paid-in-kind interest income 16.0 17.0
Fee income 14.0 17.0
Dividend and other income 12.0 6.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: (40.0) (225.0)
Net change in unrealized appreciation (depreciation) on investments: 58.0 172.0
Non-controlled/affiliated    
Investment income    
Interest income 8.0 6.0
Paid-in-kind interest income 17.6 [3] 10.0
Fee income 3.4 [3] 0.0
Dividend and other income 8.9 [3] 4.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: 8.9 (10.0)
Net change in unrealized appreciation (depreciation) on investments: (20.3) 20.0
Controlled/affiliated    
Investment income    
Interest income 15.0 21.0
Paid-in-kind interest income 28.0 [4] 8.0
Fee income 0.0 [4] 0.0
Dividend and other income 59.8 [4] 57.0
Realized and unrealized gain/loss    
Net realized gain (loss) on investments: 12.5 (8.0)
Net change in unrealized appreciation (depreciation) on investments: $ (51.5) $ (6.0)
[1] See Note 2 and 4 for a discussion of the methodology employed by the Company in calculating the subordinated income incentive fees.
[2] See Note 9 for a discussion of the Company’s financing arrangements.
[3] Interest, PIK, Fee and Dividend and Other income presented for the three months ended March 31, 2025.
[4] Interest, PIK, Fee and Dividend and Other income presented for the three months ended March 31, 2025.