v3.26.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Investment Income    
Payment-in-kind (“PIK”) interest income $ 31,481 $ 36,431
Dividend Income 14,905 13,493
Investment Income 396,774 464,646
Operating Expenses    
Interest expense 134,316 148,532
Management fee, net [1] 60,693 62,158
Performance based incentive fees 32,412 41,029
Professional fees 4,206 3,532
Directors' fees 445 320
Other general and administrative 3,085 4,027
Total Operating Expenses 235,157 259,598
Net Investment Income (Loss) Before Taxes 161,617 205,048
Income tax expense (benefit), including excise tax expense (benefit) 2,447 3,746
Net Investment Income (Loss) After Taxes 159,170 201,302
Net change in unrealized gain (loss):    
Net change in unrealized gain (loss) (98,231) 192,434
Translation of assets and liabilities in foreign currencies and other transactions (3,269) 4,012
Income tax (provision) benefit 707 (1,562)
Total Net Change in Unrealized Gain (Loss) (100,793) 194,884
Net realized gain (loss):    
Non-controlled, non-affiliated investments (84,905) (151,932)
Foreign currency transactions 2,146 (1,619)
Total Net Realized Gain (Loss) (82,759) (153,551)
Total Net Realized and Change in Unrealized Gain (Loss) (183,552) 41,333
Net Increase (Decrease) in Net Assets Resulting from Operations $ (24,382) $ 242,635
Earnings Per Share - Basic (in usd per share) $ (0.05) $ 0.49
Earnings Per Share - Diluted (in usd per share) $ (0.05) $ 0.49
Weighted Average Shares Outstanding - Basic (in shares) 498,903,632 494,825,717
Weighted Average Shares Outstanding - Diluted (in shares) 498,903,632 494,825,717
Non-controlled, non-affiliated investments    
Investment Income    
Interest income $ 291,924 $ 356,463
Payment-in-kind (“PIK”) interest income 27,234 35,392
Dividend Income 20,209 21,531
Other income 3,158 5,590
Investment Income 342,525 418,976
Net change in unrealized gain (loss):    
Net change in unrealized gain (loss) (164,425) 196,524
Net realized gain (loss):    
Non-controlled, non-affiliated investments 10,673 (151,932)
Non-controlled, affiliated investments    
Investment Income    
Interest income 392 615
Payment-in-kind (“PIK”) interest income 88 1,039
Dividend Income 3,195 0
Other income 26 36
Investment Income 3,701 1,690
Net change in unrealized gain (loss):    
Net change in unrealized gain (loss) 23,764 (700)
Net realized gain (loss):    
Non-controlled, non-affiliated investments (39,222) 0
Controlled, affiliated investments    
Investment Income    
Interest income 7,997 8,952
Payment-in-kind (“PIK”) interest income 4,159 0
Dividend Income 38,189 35,005
Other income 203 23
Investment Income 50,548 43,980
Net change in unrealized gain (loss):    
Net change in unrealized gain (loss) 42,430 (3,390)
Net realized gain (loss):    
Non-controlled, non-affiliated investments $ (56,356) $ 0
[1] Refer to “Note 3 — Agreements and Related Party Transactions” for additional details on management fee waiver.