v3.26.3
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Investment Income        
PIK interest and dividends     $ 120,163 $ 119,900
Total Investment Income $ 341,285 $ 322,590 1,005,257 824,874
Operating Expenses        
Interest expense 117,295 85,427 329,911 224,440
Management fees, net [1] 56,147 47,970 164,008 96,386
Performance based incentive fees 27,457 49,737 46,088 87,230
Professional fees 3,332 2,938 9,163 9,147
Listing advisory fees 0 0 0 4,821
Directors' fees 483 259 1,177 832
Other general and administrative 3,830 3,261 10,517 7,819
Total Operating Expenses 208,544 189,592 560,864 430,675
Net Investment Income (Loss) Before Taxes 132,741 132,998 444,393 394,199
U.S. federal and state corporate-level income tax expense/(benefit) 2,132 2,433 3,829 5,931
Net Investment Income (Loss) After Taxes 130,609 130,565 440,564 388,268
Net change in unrealized gain (loss):        
Net change in unrealized gain (loss)     (430,455) 133,140
Translation of assets and liabilities in foreign currencies and other transactions (13,227) 2,686 (9,784) 28,654
Income tax (provision) benefit 224 0 303 (843)
Total Net Change in Unrealized Gain (Loss) 19,627 103,360 (439,936) 160,951
Net realized gain (loss):        
Non-controlled, non-affiliated investments     137,994 (12,412)
Foreign currency transactions 15,325 3,163 14,966 (22,253)
Total Net Realized Gain (Loss) 69,021 1,010 152,960 (34,665)
Total Net Realized and Change in Unrealized Gain (Loss) 88,648 104,370 (286,976) 126,286
Net Increase (Decrease) in Net Assets Resulting from Operations $ 219,257 $ 234,935 $ 153,588 $ 514,554
Earnings Per Share - Basic (in USD per share) $ 0.48 $ 0.50 $ 0.33 $ 1.32
Earnings Per Share - Diluted (in USD per share) $ 0.48 $ 0.50 $ 0.33 $ 1.32
Weighted Average Shares Outstanding - Basic (in shares) 456,177,660 466,720,357 460,411,307 389,912,688
Weighted Average Shares Outstanding - Diluted (in shares) 456,177,660 466,720,357 460,411,307 389,912,688
Non-controlled, non-affiliated investments        
Investment Income        
Interest income $ 282,240 $ 266,669 $ 824,054 $ 675,025
PIK interest and dividends 24,673 23,823 73,699 61,752
Dividend income 232 0 1,210 539
PIK dividends 14,316 16,120 42,317 39,975
Other income 3,004 3,909 10,347 12,653
Total Investment Income 324,465 310,521 951,627 789,944
Net change in unrealized gain (loss):        
Net change in unrealized gain (loss) 9,041 9,445 (427,589) 8,790
Net realized gain (loss):        
Non-controlled, non-affiliated investments 53,696 (2,153) 163,170 (12,412)
Non-controlled, affiliated investments        
Investment Income        
Interest income 1,112 1,600 3,782 3,833
PIK interest and dividends 267 1,160 1,300 3,291
Dividend income 6,324 5,563 31,024 17,582
PIK dividends (39) 3,292 6,733 9,494
Other income 13 22 58 105
Total Investment Income 7,677 11,637 42,897 34,305
Net change in unrealized gain (loss):        
Net change in unrealized gain (loss) (6,133) 52,899 (88,543) 71,334
Net realized gain (loss):        
Non-controlled, non-affiliated investments 0 0 (25,176) 0
Controlled, affiliated investments        
Investment Income        
Dividend income 9,143 432 10,733 625
Other income     0  
Total Investment Income 9,143 432 10,733 625
Net change in unrealized gain (loss):        
Net change in unrealized gain (loss) $ 29,722 $ 38,330 85,677 $ 53,016
Net realized gain (loss):        
Non-controlled, non-affiliated investments     $ 0  
[1] Refer to “Note 3 — Agreements and Related Party Transactions” for additional details on management fee waiver.