v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 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 $ 251,733 $ 272,370  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:      
Purchases of investments, net (4,198,054) (3,044,601)  
Proceeds from investments and investment repayments, net 1,082,081 775,095  
Net change in unrealized (gain) loss on investments 60,810 (1,898)  
Net change in unrealized gain (loss) on interest rate swap attributed to unsecured notes 65,497 (27,128)  
Net change in unrealized (gain) loss on translation of assets and liabilities in foreign currencies (7,528) 291  
Net change in unrealized (gain) loss on Income tax (provision) benefit (169) (8)  
Net realized (gain) loss on investments 57,865 3,447  
Net realized (gain) loss on foreign currency transactions relating to investments 5,873 (76)  
Net realized (gain) loss on foreign currency transactions relating to debt 43 0  
Paid-in-kind interest and dividends (35,250) (40,769)  
Net amortization/accretion of premium/discount on investments (27,902) (22,178)  
Amortization of debt issuance costs 11,038 6,281  
Amortization of offering costs 1,962 1,251  
Changes in operating assets and liabilities:      
(Increase) decrease in interest receivable (28,617) (23,293)  
(Increase) decrease in receivable from controlled affiliates 6,499 (2,678)  
(Increase) decrease in receivable for investments sold 368,602 20,619  
(Increase) decrease in prepaid expenses and other assets (56,515) (1,897)  
Increase (decrease) in payable for investments purchased 766,430 137,293  
Increase (decrease) in payables to affiliates 979 6,512  
Increase (decrease) in accrued expenses and other liabilities (160,587) 33,152  
Net cash used in operating activities (1,835,210) (1,908,215)  
Cash Flows from Financing Activities      
Borrowings on debt 3,910,000 4,176,729  
Repayments of debt (4,066,000) (3,048,000)  
Deferred offering costs paid (342) 0  
Debt issuance costs paid (6,064) (27,281)  
Repurchase of common stock (193,197) (113,988)  
Proceeds from issuance of common shares 1,926,242 1,299,301  
Distributions paid to shareholders (206,101) (130,954)  
Net cash provided by financing activities 1,364,538 2,155,807  
Net increase (decrease) in cash and restricted cash, including foreign cash (restricted cash of $(92,127) and $71,589, respectively) (470,672) 247,592  
Cash and restricted cash, including foreign cash, beginning of period (restricted cash of $182,030 and $40,872, respectively) 1,006,483 415,384 $ 415,384
Cash and restricted cash, including foreign cash, end of period (restricted cash of $89,903 and $112,461, respectively) 535,811 662,976 $ 1,006,483
Supplemental and Non-Cash Information      
Interest paid during the period 294,180 158,336  
Distributions declared during the period 391,461 243,516  
Reinvestment of distributions during the period 165,425 99,237  
Taxes, including excise tax, paid during the period 10,010 11  
Distributions payable $ 172,412 $ 107,255