v3.26.1
INVESTMENTS - IHAM Selected Balance Sheet Information (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Assets    
Investments at fair value $ 29,349.3 [1] $ 29,484.8 [2]
Cash and cash equivalents 383.0 638.0
Other assets 176.0 221.0
Total assets 30,498.0 31,235.0
Liabilities    
Total liabilities 16,607.0 16,917.0
Equity    
Accumulated earnings 531.0 958.0
Total liabilities and stockholders’ equity 30,498.0 31,235.0
Amortized Cost 29,674.6 [1] 29,249.9 [2]
Unrealized losses (1,300.0) (1,000.0)
Unrealized depreciation 200.0 (300.0)
Ivy Hill Asset Management, L.P.    
Assets    
Investments at fair value 13,063.0 11,599.0
Cash and cash equivalents 531.0 607.0
Other assets 151.0 157.0
Total assets 13,745.0 12,363.0
Liabilities    
Debt 10,650.0 9,515.0
Subordinated note from ARCC 946.0 531.0
Subordinated notes 333.0 336.0
Other liabilities 320.0 314.0
Total liabilities 12,249.0 10,696.0
Equity    
Contributed capital 1,700.0 1,700.0
Accumulated earnings 146.0 148.0
Net unrealized gains (losses) on investments and foreign currency transactions (119.0) (82.0)
Non-controlling interests in Consolidated IHAM Vehicles (231.0) (99.0)
Total equity 1,496.0 1,667.0
Total liabilities and stockholders’ equity 13,745.0 12,363.0
Amortized Cost 3,628.0 3,190.0
Ivy Hill Asset Management, L.P. | Eliminations    
Assets    
Investments at fair value (3,413.0) (3,013.0)
Cash and cash equivalents 0.0 0.0
Other assets (63.0) (82.0)
Total assets (3,476.0) (3,095.0)
Liabilities    
Debt 0.0 0.0
Subordinated note from ARCC 0.0 0.0
Subordinated notes (1,904.0) (941.0)
Other liabilities (30.0) (18.0)
Total liabilities (1,934.0) (959.0)
Equity    
Contributed capital 0.0 0.0
Accumulated earnings 0.0 0.0
Net unrealized gains (losses) on investments and foreign currency transactions 0.0 0.0
Non-controlling interests in Consolidated IHAM Vehicles (1,542.0) (2,136.0)
Total equity (1,542.0) (2,136.0)
Total liabilities and stockholders’ equity (3,476.0) (3,095.0)
Ivy Hill Asset Management, L.P. | Ivy Hill Asset Management, L.P. | Operating Segments    
Assets    
Investments at fair value 3,510.0 3,108.0
Cash and cash equivalents 10.0 10.0
Other assets 72.0 93.0
Total assets 3,592.0 3,211.0
Liabilities    
Debt 894.0 893.0
Subordinated note from ARCC 946.0 531.0
Subordinated notes 0.0 0.0
Other liabilities 25.0 21.0
Total liabilities 1,865.0 1,445.0
Equity    
Contributed capital 1,700.0 1,700.0
Accumulated earnings 146.0 148.0
Net unrealized gains (losses) on investments and foreign currency transactions (119.0) (82.0)
Non-controlling interests in Consolidated IHAM Vehicles 0.0 0.0
Total equity 1,727.0 1,766.0
Total liabilities and stockholders’ equity 3,592.0 3,211.0
Amortized Cost 13,381.0 11,766.0
Ivy Hill Asset Management, L.P. | Consolidated IHAM Vehicles | Operating Segments    
Assets    
Investments at fair value 12,966.0 11,504.0
Cash and cash equivalents 521.0 597.0
Other assets 142.0 146.0
Total assets 13,629.0 12,247.0
Liabilities    
Debt 9,756.0 8,622.0
Subordinated note from ARCC 0.0 0.0
Subordinated notes 2,237.0 1,277.0
Other liabilities 325.0 311.0
Total liabilities 12,318.0 10,210.0
Equity    
Contributed capital 0.0 0.0
Accumulated earnings 0.0 0.0
Net unrealized gains (losses) on investments and foreign currency transactions 0.0 0.0
Non-controlling interests in Consolidated IHAM Vehicles 1,311.0 2,037.0
Total equity 1,311.0 2,037.0
Total liabilities and stockholders’ equity 13,629.0 12,247.0
Unrealized depreciation 316.0 167.0
Ivy Hill Asset Management, L.P. | Consolidated IHAM Vehicles | Eliminations    
Equity    
Unrealized losses $ 125.0 $ 85.0
[1] As of June 30, 2026, the estimated net unrealized loss for federal tax purposes was approximately $0.2 billion based on a tax cost basis of approximately $29.5 billion. As of June 30, 2026, the estimated aggregate gross unrealized loss for federal income tax purposes was approximately $1.5 billion and the estimated aggregate gross unrealized gain for federal income tax purposes was approximately $1.3 billion.     
[2] As of December 31, 2025, the estimated net unrealized gain for federal tax purposes was approximately $300 million based on a tax cost basis of $29.2 billion. As of December 31, 2025, the estimated aggregate gross unrealized gain for federal income tax purposes was approximately $1.3 billion and the estimated aggregate gross unrealized loss for federal income tax purposes was approximately $1.0 billion.