v3.25.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities      
Net increase (decrease) in net assets resulting from operations $ 120 $ 173  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Purchases of investments (1,704) (1,444)  
Paid-in-kind interest (64) (25)  
Proceeds from sales and repayments of investments 1,113 1,855  
Net realized (gain) loss on investments 18 243  
Net change in unrealized (appreciation) depreciation on investments 14 (186)  
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts 10 (8)  
Accretion of discount (9) (15)  
Amortization of deferred financing costs and discount 5 4  
Unrealized (gain)/loss on borrowings in foreign currency 25 (11)  
(Increase) decrease in receivable for investments sold and repaid 121 (83)  
(Increase) decrease in income receivable 7 (10)  
(Increase) decrease in prepaid expenses and other assets (5) (2)  
Increase (decrease) in payable for investments purchased 1 0  
Increase (decrease) in management fees payable (1) (1)  
Increase (decrease) in subordinated income incentive fees payable 4 2  
Increase (decrease) in administrative services expense payable 2 1  
Increase (decrease) in interest payable (43) (7)  
Increase (decrease) in other accrued expenses and liabilities (32) (20)  
Net cash provided by (used in) operating activities (418) 466  
Cash flows from financing activities      
Stockholder distributions 0 (210)  
Borrowings under financing arrangements 2,831 1,019  
Repayments of financing arrangements (2,232) (1,263)  
Deferred financing costs paid (5) (1)  
Net cash provided by (used in) financing activities 594 (455)  
Total increase (decrease) in cash 176 11  
Cash, cash equivalents and foreign currency at beginning of period 296 231 $ 231
Cash, cash equivalents and foreign currency at end of period 472 242 $ 296
Supplemental disclosure      
Federal income taxes paid during the period 0 0  
Interest paid during the period $ 151 $ 119