Earnings Per Share (Tables)

Shares used in the computation of the Company’s basic and diluted earnings per share are as follows:


(in thousands, except per share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Numerator
Net increase (decrease) in net assets resulting from operations	$	93,568	$	119,685	$	266,251	$	248,909
Less: Total distributions declared	(87,969)		(85,388)		(262,652)		(249,855)
Total Earnings (loss), net of total distributions	5,599		34,297		3,599		(946)

Earnings (loss), net of distributions attributable to common shares	5,555		34,042		3,568		(947)
Add: Distributions declared attributable to common shares	87,267		84,752		260,320		247,749
Numerator for basic change in net assets per common share	92,822		118,794		263,888		246,802
Add: Income impact of assumed conversion of 2028 Convertible Notes	4,079		4,116		12,236		9,096
Numerator for diluted change in net assets per common share	$	96,901	$	122,910	$	276,124	$	255,898

Denominator
Basic weighted average common shares outstanding	185,989		180,360		184,767		175,633
Incremental shares from assumed conversion of 2028 Convertible Notes	13,387		13,387		13,387		10,015
Common shares issuable	702		611		683		603
Weighted average common shares outstanding assuming dilution	200,078		194,358		198,837		186,251

Change in net assets per common share:
Basic	$	0.50	$	0.66	$	1.43	$	1.41
Diluted	$	0.48	$	0.63	$	1.39	$	1.37

The calculation of change in net assets resulting from operations per common share assuming dilution, excludes all anti-dilutive shares. For the three and nine months ended September 30, 2026 and 2025, the number of anti-dilutive shares, as calculated based on the weighted average closing price of the Company’s common stock for the periods, are as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
Anti-dilutive Securities	2026	2025	2026	2025
Unvested common stock options	45	1,527	160	1,217

Unvested restricted stock awards	33,068	—	91,354	1,094