v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
OPERATING ACTIVITIES:    
Net increase in net assets resulting from operations $ 433,051 $ 574,039
Adjustments to reconcile net increase in net assets resulting from operations:    
Net realized gains on investments, foreign currency and other transactions (18,561) (1,443)
Net unrealized (gains) losses on investments, foreign currency and other transactions 297,533 (57,251)
Net (gain) loss on interest rate swaps accounted for as hedge instruments and the related hedged items 2,026 (1,878)
Net accretion of discount on investments (36,652) (23,864)
PIK interest (81,895) (47,101)
Collections of PIK interest 638 141
PIK dividends (26,261) (10,582)
Collections of PIK dividends 0 2,510
Amortization of debt issuance costs 20,238 12,213
Accretion of discount on notes payable 8,787 4,850
Amortization of offering costs 1,738 1,376
Purchases of investments (6,469,852) (12,809,756)
Proceeds from repayments or sales of investments 6,510,771 4,284,551
Changes in operating assets and liabilities:    
Interest receivable 22,001 (13,568)
Other assets (170,196) (47,271)
Base management fee payable (1,057) 4,188
Income based fee payable 3,480 12,122
Capital gains incentive fee payable (19,145) 7,332
Interest and facility fees payable (32,382) 4,950
Interest rate swap collateral payable (137,150) 64,020
Accounts payable and other liabilities 158,638 12,496
Net cash provided by (used in) operating activities 465,750 (8,027,926)
FINANCING ACTIVITIES:    
Borrowings on debt 6,504,188 11,015,566
Repayments of debt (5,454,194) (6,740,040)
Debt issuance costs (6,864) (45,879)
Net proceeds from issuance of common shares 1,098,065 4,348,105
Repurchased shares, net of early repurchase deduction (1,572,769) (255,470)
Distributions to shareholders (550,854) (372,218)
Secured borrowing, net (262,486) 240,320
Net cash provided by (used in) financing activities (244,914) 8,190,384
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 220,836 162,458
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 441,861 170,427
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 662,697 332,885
Supplemental Information:    
Interest paid during the period 468,419 278,422
Distributions declared and payable during the period $ 740,244 $ 570,371