v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Cash Flows from Operating Activities      
Net Increase (Decrease) in Net Assets Resulting from Operations $ (104,898) $ 48,004  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:      
Purchases of investments, net (72,357) (672,347)  
Proceeds from investments and investment repayments, net 904,879 440,656  
Net accretion/amortization of discount/premium on investments (4,399) (10,183)  
Payment-in-kind interest and dividends (10,045) (8,420)  
Net change in unrealized (gain) loss on investments 166,393 24,715  
Net change in unrealized (gain) loss on foreign currency forward contracts (694) 0  
Net change in unrealized (gain) loss on translation of assets and liabilities in foreign currencies 1,992 (50)  
Net realized (gain) loss on investments 640 2,435  
Net realized (gain) loss on foreign currency transactions relating to investments (160) 0  
Amortization of debt issuance costs 2,445 1,685  
Amortization of offering costs 310 245  
Changes in operating assets and liabilities:      
(Increase) decrease in interest and dividend receivable (52) 1,949  
(Increase) decrease in prepaid expenses and other assets 62,542 9,396  
Increase (decrease) in management fee payable (513) 149  
Increase (decrease) in incentive fee payable (1,434) (1,264)  
Increase (decrease) in payable for investments purchased (37,818) 49,878  
Increase (decrease) in due to Adviser (1,012) 2,627  
Increase (decrease) in accrued expenses and other liabilities (3,613) (2,405)  
Net cash provided by (used in) operating activities 902,206 (112,930)  
Cash Flows from Financing Activities      
Borrowings on debt 590,000 605,000  
Payments on debt (1,021,000) (755,000)  
Debt issuance costs (263) (2,900)  
Proceeds from issuance of common shares 96,646 328,188  
Offering costs paid (247) (643)  
Cash distributions paid to shareholders (38,302) (40,425)  
Repurchase of common shares (533,178) (96,172)  
Net cash provided by (used in) financing activities (906,344) 38,048  
Net increase (decrease) in cash (4,138) (74,882)  
Cash, including foreign cash, beginning of period 153,225 199,014 $ 199,014
Cash, including foreign cash, end of period 149,087 [1] 124,132 [1] 153,225
Supplemental and Non-Cash Information      
Interest paid during the period 48,652 42,042  
Distributions declared during the period 64,604 73,462  
Reinvestment of distributions during the period 30,407 33,597  
Distributions payable 20,999 29,157 $ 25,104
Tender offer payable 169,364 98,537  
Taxes, including excise tax, paid during the period $ 400 $ 170  
[1] The Company held no restricted cash in the periods presented.