v3.26.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Investment income:        
Total interest and dividend income, excluding PIK interest income $ 123,663 $ 116,682 $ 372,852 $ 334,717
Total PIK interest income 10,563 14,475 35,819 41,583
Total interest and dividend income 134,226 131,157 408,671 376,300
Total fee income 5,889 6,936 22,094 18,763
Total investment income 140,115 138,093 430,765 395,063
Operating expenses:        
Interest 29,884 24,189 86,160 66,817
Loan fees 3,315 3,004 8,998 8,149
General and administrative 5,032 4,477 14,705 14,392
Tax expenses 1,253 1,703 5,033 3,683
Employee compensation:        
Compensation and benefits 13,969 16,540 49,626 47,118
Stock-based compensation 4,035 3,691 12,121 10,955
Total employee compensation 18,004 20,231 61,747 58,073
Total gross operating expenses 57,488 53,604 176,643 151,114
Expenses allocated to the Adviser Subsidiary (4,722) (4,063) (14,252) (10,795)
Total net operating expenses 52,766 49,541 162,391 140,319
Net investment income 87,349 88,552 268,374 254,744
Net realized gain (loss):        
Loss on extinguishment of debt 0 (84) (2) (120)
Total net realized gain (loss) (1,936) (1,856) 5,161 (61,049)
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) 8,155 32,989 (7,284) 55,214
Total net realized gain (loss) and net change in unrealized appreciation (depreciation) 6,219 31,133 (2,123) (5,835)
Net increase (decrease) in net assets resulting from operations $ 93,568 $ 119,685 $ 266,251 $ 248,909
Net investment income before gains and losses per common share:        
Basic (in dollars per share) $ 0.47 $ 0.49 $ 1.44 $ 1.44
Change in net assets resulting from operations per common share:        
Basic (in dollars per share) 0.50 0.66 1.43 1.41
Diluted (in dollars per share) $ 0.48 $ 0.63 $ 1.39 $ 1.37
Weighted average shares outstanding:        
Basic (in shares) 185,989 180,360 184,767 175,633
Diluted (in shares) 200,078 194,358 198,837 186,251
Distributions paid per common share:        
Basic (in dollars per share) $ 0.47 $ 0.47 $ 1.41 $ 1.41
Non-control/Non-affiliate investments        
Investment income:        
Total interest and dividend income, excluding PIK interest income $ 120,098 $ 113,854 $ 362,424 $ 325,970
Total PIK interest income 10,563 13,906 35,819 39,928
Total fee income 5,857 6,892 21,996 18,639
Net realized gain (loss):        
Non-control/Non-affiliate investments (1,941) (1,772) 5,158 (60,929)
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) 8,730 35,530 (4,723) 56,614
Control investments        
Investment income:        
Total interest and dividend income, excluding PIK interest income 3,565 2,828 10,428 8,747
Total PIK interest income 0 569 0 1,655
Total interest and dividend income 3,565 3,397 10,428 10,402
Total fee income 32 44 98 124
Total investment income     10,526 10,526
Net realized gain (loss):        
Non-control/Non-affiliate investments 0 0 0 0
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) (286) (2,541) (2,272) (1,400)
Affiliate Investments        
Investment income:        
Total interest and dividend income 0   0  
Total fee income 0   0  
Total investment income     0  
Net realized gain (loss):        
Non-control/Non-affiliate investments 5 0 5 0
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) $ (289) $ 0 $ (289) $ 0