v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Investment income:        
Total investment income $ 320,469,000 $ 344,803,000 $ 645,940,000 $ 702,567,000
Expenses:        
Interest expense 101,070,000 92,285,000 201,239,000 185,263,000
Management fees (Note 3) 35,282,000 34,600,000 71,648,000 68,901,000
Income based incentive fees (Note 3) 1,690,000 34,718,000 3,983,000 69,019,000
Capital gains based incentive fees (Note 3) 0 0 0 0
Professional fees 1,043,000 1,243,000 2,260,000 2,129,000
Board of Trustees’ fees 311,000 293,000 601,000 599,000
Administrative service expenses (Note 3) 1,057,000 744,000 2,182,000 1,710,000
Other general and administrative expenses 1,815,000 1,220,000 2,820,000 2,283,000
Total expenses before tax expense 142,268,000 165,103,000 284,733,000 329,904,000
Net investment income before tax expense 178,201,000 179,700,000 361,207,000 372,663,000
Excise and other tax expense 4,416,000 3,798,000 8,506,000 7,966,000
Net investment income after tax expense 173,785,000 175,902,000 352,701,000 364,697,000
Net change in unrealized appreciation (depreciation):        
Net change in unrealized (appreciation) depreciation on investments     (290,994,000) (49,073,000)
Derivative instruments (Note 6) (1,777,000) (3,126,000) 1,166,000 (5,047,000)
Translation of assets and liabilities in foreign currencies (148,000) 438,000 (883,000) 720,000
Income tax (provision) benefit (1,194,000) (294,000) (686,000) (1,774,000)
Net change in unrealized appreciation (depreciation), net of income tax (provision) benefit (136,502,000) (11,300,000) (291,397,000) (55,174,000)
Net realized gain (loss):        
Non-controlled/non-affiliated investments     (40,286,000) 7,295,000
Derivative instruments (Note 6) 3,554,000 (7,673,000) 5,396,000 (9,727,000)
Foreign currency transactions 10,244,000 (541,000) 8,466,000 (1,528,000)
Current tax expense on realized gains (148,000) (116,000) (148,000) (712,000)
Net realized gain (loss), net of tax expense (27,797,000) (9,560,000) (26,572,000) (4,672,000)
Net realized and change in unrealized gain (loss) (164,299,000) (20,860,000) (317,969,000) (59,846,000)
Net increase (decrease) in net assets resulting from operations $ 9,486,000 $ 155,042,000 $ 34,732,000 $ 304,851,000
Net investment income, basic (in usd per share) $ 0.75 $ 0.77 $ 1.52 $ 1.60
Net investment income, diluted (in usd per share) 0.75 0.77 1.52 1.60
Earnings (loss) per share basic (in usd per share) 0.04 0.68 0.15 1.34
Earnings (loss) per share diluted (in usd per share) $ 0.04 $ 0.68 $ 0.15 $ 1.34
Weighted average shares outstanding basic (in shares) 232,557,932 228,192,335 232,381,869 227,389,213
Weighted average shares outstanding diluted (in shares) 232,557,932 228,192,335 232,381,869 227,389,213
Non-controlled/non-affiliated investments        
Investment income:        
Interest income $ 298,517,000 $ 320,800,000 $ 600,734,000 $ 656,448,000
Payment-in-kind interest income 20,501,000 21,878,000 41,506,000 42,696,000
Dividend income 0 49,000 20,000 49,000
Other income 561,000 1,498,000 2,260,000 2,223,000
Net change in unrealized appreciation (depreciation):        
Net change in unrealized (appreciation) depreciation on investments (128,166,000) (8,117,000) (283,300,000) (48,223,000)
Net realized gain (loss):        
Non-controlled/non-affiliated investments (47,006,000) (1,230,000) (45,845,000) 7,295,000
Non-controlled/affiliated investments        
Investment income:        
Interest income 299,000 283,000 299,000 321,000
Payment-in-kind interest income 591,000 295,000 1,121,000 830,000
Net change in unrealized appreciation (depreciation):        
Net change in unrealized (appreciation) depreciation on investments (5,217,000) (201,000) (7,694,000) (850,000)
Net realized gain (loss):        
Non-controlled/non-affiliated investments $ 5,559,000 $ 0 $ 5,559,000 $ 0