v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net increase in net assets from operations $ 46,167 $ 52,620
Adjustments to reconcile net increase in net assets from operations to net cash (used in) provided by operating activities:    
Purchases and originations of investments (559,296) (237,711)
Proceeds from sales and repayments of debt investments in portfolio companies 233,271 114,745
Proceeds from sales and return of capital of equity investments in portfolio companies 5,123 30,918
Payment of accreted original issue discounts 1,204 1,211
Payment of accrued payment-in-kind interest 104 510
Depreciation and amortization 3,631 3,436
Net pension benefit (34) (33)
Realized gain on investments before income tax (3,988) (17,846)
Realized loss on extinguishment of debt (1,410) 0
Realized loss on disposal of fixed assets 0 2
Net unrealized depreciation on investments before income tax 26,920 24,559
Accretion of discounts on investments (5,328) (4,765)
Payment-in-kind interest (10,733) (6,115)
Share-based compensation expense 3,385 2,413
Deferred income taxes (715) (1,918)
Changes in other assets and liabilities:    
Increase in dividend and interest receivable (7,071) (2,634)
Decrease in escrow receivables 37 59
Decrease in tax receivable 440 47
(Increase) decrease in other receivables (3,626) 1,123
Decrease in other assets 323 604
Increase in taxes payable 1,121 309
Decrease in other liabilities (6,276) (2,265)
Net cash used in operating activities (273,931) (40,731)
Cash flows from investing activities    
Acquisition of fixed assets (3) (222)
Net cash used in investing activities (3) (222)
Cash flows from financing activities    
Proceeds from common stock offering 128,663 80,896
Borrowings under Credit Facilities 586,000 199,000
Repayments of Credit Facilities (736,000) (465,000)
Debt issuance costs paid (5,932) (1,440)
Proceeds from issuance of SBA Debentures 80,003 0
Repayments of SBA Debentures (16,000) 0
Dividends to shareholders (81,036) (71,383)
Common stock withheld for payroll taxes upon vesting of restricted stock (1,700) (1,120)
Net cash provided by financing activities 296,946 85,161
Net increase in cash, cash equivalents and restricted cash 23,012 44,208
Cash, cash equivalents and restricted cash at beginning of period 29,445 44,871
Cash, cash equivalents and restricted cash at end of period 52,457 89,079
Supplemental cash flow disclosures:    
Cash paid for income taxes 2,962 8,952
Cash paid for interest 35,850 29,678
Total cash, cash equivalents and restricted cash presented in the Consolidated Statements of Cash Flows    
Cash and cash equivalents 47,977 87,429
Restricted cash 4,480 1,650
Total cash, cash equivalents and restricted cash presented in the Consolidated Statements of Cash Flows 52,457 89,079
September 2030 Notes    
Cash flows from financing activities    
Proceeds from issuance of Notes 0 344,208
September 2031 Notes    
Cash flows from financing activities    
Proceeds from issuance of Notes $ 342,948 $ 0