v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Investments, at fair value $ 12,269.4 [1],[2] $ 13,008.6 [3],[4]
Cash and cash equivalents [5] 124.0 181.0
Restricted cash 4.0 0.0
Foreign currency, at fair value (cost—$5 and $27, respectively) 5.0 27.0
Receivable for investments sold and repaid 263.0 313.0
Income receivable 98.0 98.0
Unrealized appreciation on foreign currency forward contracts 2.0 0.0
Deferred financing costs 30.0 32.0
Prepaid expenses and other assets 30.0 69.0
Total assets 12,825.0 13,729.0
Liabilities    
Payable for investments purchased 2.0 8.0
Debt (net of deferred financing costs and discount of $42 and $45, respectively) [6] 7,271.0 7,634.0
Unrealized depreciation on foreign currency forward contracts 3.0 10.0
Stockholder distributions payable 134.0 0.0
Management fees payable 48.0 50.0
Subordinated income incentive fees payable [7] 25.0 28.0
Administrative services expense payable 2.0 1.0
Interest payable 56.0 77.0
Other accrued expenses and liabilities 10.0 72.0
Total liabilities 7,551.0 7,880.0
Commitments and contingencies [8]
Stockholders’ equity    
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding 0.0 0.0
Common stock, $0.001 par value, 750,000,000 shares authorized, 280,066,433 and 280,066,433 shares issued and outstanding, respectively 0.0 0.0
Capital in excess of par value 9,199.0 9,199.0
Retained earnings (accumulated deficit) [9] (3,925.0) (3,350.0)
Total stockholders’ equity 5,274.0 5,849.0
Total liabilities and stockholders’ equity $ 12,825.0 $ 13,729.0
Net asset value per share of common stock at period end (in dollars per share) $ 18.83 $ 20.89
Money Market Funds    
Assets    
Cash and cash equivalents [5] $ 27.0  
Non-controlled/unaffiliated    
Assets    
Investments, at fair value 7,757.0 $ 8,164.0
Non-controlled/affiliated    
Assets    
Investments, at fair value 674.2 854.6
Controlled/affiliated    
Assets    
Investments, at fair value $ 3,837.7 $ 3,990.5
[1] Security may be an obligation of one or more entities affiliated with the named company.
[2] See Note 8 for additional information regarding the fair value of the Company’s financial instruments.
[3] Security may be an obligation of one or more entities affiliated with the named company.
[4] See Note 8 for additional information regarding the fair value of the Company’s financial instruments.
[5] Includes $27 of cash equivalents invested in money market accounts as of March 31, 2026.
[6] See Note 9 for a discussion of the Company’s financing arrangements.
[7] See Note 2 and 4 for a discussion of the methodology employed by the Company in calculating the subordinated income incentive fees.
[8] See Note 10 for a discussion of the Company’s commitments and contingencies.
[9] See Note 5 for a discussion of the sources of distributions paid by the Company.