v3.26.1
Derivatives (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Aggregate Notional Amount and Fair Value Hierarchy of Derivative Financial Instruments

The following table presents the aggregate notional amount and fair value hierarchy of the Company’s derivative financial instruments:

 

March 31, 2026

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total Fair Value

 

 

Notional

 

Derivative assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

$

—

 

 

$

425

 

 

$

—

 

 

$

425

 

 

$

35,000

 

Total derivative assets, at fair value

$

—

 

 

$

425

 

 

$

—

 

 

$

425

 

 

$

35,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

$

—

 

 

$

155

 

 

$

—

 

 

$

155

 

 

$

86,419

 

Total derivative liabilities, at fair value

$

—

 

 

$

155

 

 

$

—

 

 

$

155

 

 

$

86,419

 

Cash collateral posted

 

 

 

 

 

 

 

 

 

$

5,510

 

 

 

 

 

December 31, 2025

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total Fair Value

 

 

Notional

 

Derivative assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

$

—

 

 

$

44

 

 

$

—

 

 

$

44

 

 

$

35,419

 

Total derivative assets, at fair value

$

—

 

 

$

44

 

 

$

—

 

 

$

44

 

 

$

35,419

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

$

—

 

 

$

420

 

 

$

—

 

 

$

420

 

 

$

35,000

 

Total derivative liabilities, at fair value

$

—

 

 

$

420

 

 

$

—

 

 

$

420

 

 

$

35,000

 

Cash collateral posted

 

 

 

 

 

 

 

 

 

$

3,500

 

 

 

 
Schedule of Impact to Consolidated Statements of Operations from Derivative Instruments not Designated in Qualifying Hedge Accounting Relationship The table below presents the impact to the Consolidated Statements of Operations from derivative instruments not designated in a qualifying hedge accounting relationship for the three months ended March 31, 2026.

 

 

For the Three Months Ended March 31,

 

 

 

2026

 

Net change in unrealized gain

 

 

 

Foreign currency forward contracts

 

$

646

 

Net change in unrealized gain

 

$

646

 

Realized gain

 

 

 

Foreign currency forward contracts

 

$

1,827

 

Realized gain

 

$

1,827

 
Schedule of Offsetting of Derivative Instruments

Offsetting of Derivative Instruments

The Company has elected to not offset cash collateral posted to or received from its counterparty against the net fair value of derivative instruments with that counterparty. The following table presents the offsetting of the Company’s derivative financial instruments:

 

 

March 31, 2026

 

Description

Gross Amounts of Recognized Assets

 

 

Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities

 

 

Net Amounts of Assets Presented in the Consolidated Statements of Assets and Liabilities

 

 

Gross Amounts of Financial Instruments Not Offset in Consolidated Statements of Assets and Liabilities

 

 

Gross Amounts of Cash Collateral Received from Counterparty Not Offset in Consolidated Statements of Assets and Liabilities

 

 

Net Amount (not less than 0)

 

Foreign currency forward contracts

$

425

 

 

$

—

 

 

$

425

 

 

$

(155

)

 

$

—

 

 

$

270

 

Total

$

425

 

 

$

—

 

 

$

425

 

 

$

(155

)

 

$

—

 

 

$

270

 

 

Description

Gross Amounts of Recognized Liabilities

 

 

Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities

 

 

Net Amounts of Liabilities Presented in the Consolidated Statements of Assets and Liabilities

 

 

Gross Amounts of Financial Instruments Not Offset in Consolidated Statements of Assets and Liabilities

 

 

Gross Amounts of Cash Collateral Pledged with Counterparty Not Offset in Consolidated Statements of Assets and Liabilities

 

 

Net Amount (not less than 0)

 

Foreign currency forward contracts

$

155

 

 

$

—

 

 

$

155

 

 

$

(155

)

 

$

—

 

 

$

—

 

Total

$

155

 

 

$

—

 

 

$

155

 

 

$

(155

)

 

$

—

 

 

$

—

 

 

 

December 31, 2025

 

Description

Gross Amounts of Recognized Assets

 

 

Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities

 

 

Net Amounts of Assets Presented in the Consolidated Statements of Assets and Liabilities

 

 

Gross Amounts of Financial Instruments Not Offset in Consolidated Statements of Assets and Liabilities

 

 

Gross Amounts of Cash Collateral Received from Counterparty Not Offset in Consolidated Statements of Assets and Liabilities

 

 

Net Amount (not less than 0)

 

Foreign currency forward contracts

$

44

 

 

$

—

 

 

$

44

 

 

$

(44

)

 

$

—

 

 

$

—

 

Total

$

44

 

 

$

—

 

 

$

44

 

 

$

(44

)

 

$

—

 

 

$

—

 

 

Description

Gross Amounts of Recognized Liabilities

 

 

Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities

 

 

Net Amounts of Liabilities Presented in the Consolidated Statements of Assets and Liabilities

 

 

Gross Amounts of Financial Instruments Not Offset in Consolidated Statements of Assets and Liabilities

 

 

Gross Amounts of Cash Collateral Pledged with Counterparty Not Offset in Consolidated Statements of Assets and Liabilities

 

 

Net Amount (not less than 0)

 

Foreign currency forward contracts

$

420

 

 

$

—

 

 

$

420

 

 

$

(44

)

 

$

(376

)

 

$

—

 

Total

$

420

 

 

$

—

 

 

$

420

 

 

$

(44

)

 

$

(376

)

 

$

—