Annual report [Section 13 and 15(d), not S-K Item 405]

Debt - Schedule of Available and Outstanding Debt (Details)

v3.25.4
Debt - Schedule of Available and Outstanding Debt (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 16, 2025
Mar. 10, 2025
Feb. 05, 2025
Dec. 31, 2024
Jul. 09, 2024
Jun. 23, 2022
Jun. 22, 2022
Jan. 20, 2022
Sep. 16, 2021
Mar. 04, 2021
Nov. 04, 2020
Oct. 27, 2020
Jun. 03, 2020
Feb. 05, 2020
Sep. 24, 2018
Debt Instrument [Line Items]                                
Total Available $ 2,782,136       $ 2,329,475                      
Principal Outstanding 2,313,070       1,783,265                      
Carrying value 2,286,444       1,768,955                      
SBA Debentures                                
Debt Instrument [Line Items]                                
Total Available [1] 350,000       350,000                      
Principal Outstanding [1] 350,000       279,000                      
Carrying value [1] 341,012       271,371                      
Maximum borrowing capacity 350,000       350,000                      
SBA Debentures | HC IV                                
Debt Instrument [Line Items]                                
Total Available 175,000                              
Maximum borrowing capacity 175,000       175,000               $ 175,000      
SBA Debentures | SBIC V                                
Debt Instrument [Line Items]                                
Total Available 175,000                              
Maximum borrowing capacity 175,000       175,000 $ 175,000                    
February 2025 Notes                                
Debt Instrument [Line Items]                                
Total Available 0       50,000                   $ 50,000  
Principal Outstanding 0       50,000                      
Carrying value 0       49,981                      
June 2025 Notes                                
Debt Instrument [Line Items]                                
Total Available 0       70,000                 $ 70,000    
Principal Outstanding 0       70,000                      
Carrying value 0       69,919                      
June 2025 3-Year Notes                                
Debt Instrument [Line Items]                                
Total Available 0       50,000   $ 50,000                  
Principal Outstanding 0       50,000                      
Carrying value 0       49,926                      
March 2026 A Notes                                
Debt Instrument [Line Items]                                
Total Available 50,000       50,000             $ 50,000        
Principal Outstanding 50,000       50,000                      
Carrying value 49,984       49,889                      
March 2026 B Notes                                
Debt Instrument [Line Items]                                
Total Available 50,000       50,000           $ 50,000          
Principal Outstanding 50,000       50,000                      
Carrying value 49,983       49,880                      
September 2026 Notes                                
Debt Instrument [Line Items]                                
Total Available 325,000       325,000         $ 325,000            
Principal Outstanding 325,000       325,000                      
Carrying value 324,302       323,321                      
January 2027 Notes                                
Debt Instrument [Line Items]                                
Total Available 350,000       350,000       $ 350,000              
Principal Outstanding 350,000       350,000                      
Carrying value 348,596       347,265                      
2028 Convertible Notes                                
Debt Instrument [Line Items]                                
Total Available 287,500   $ 287,500   0                      
Principal Outstanding 287,500       0                      
Carrying value 280,412       0                      
June 2030 Notes                                
Debt Instrument [Line Items]                                
Total Available 350,000 $ 350,000     0                      
Principal Outstanding 350,000       0                      
Carrying value 342,694       0                      
2031 Asset-Backed Notes(2)                                
Debt Instrument [Line Items]                                
Total Available 64,636       119,475     $ 150,000                
Principal Outstanding 64,636       119,475                      
Carrying value 64,530       118,769                      
2033 Notes                                
Debt Instrument [Line Items]                                
Total Available 40,000       40,000                     $ 40,000
Principal Outstanding 40,000       40,000                      
Carrying value 39,151       39,043                      
MUFG Bank Facility                                
Debt Instrument [Line Items]                                
Total Available 440,000       400,000                      
Principal Outstanding 168,000       116,000                      
Carrying value 168,000       116,000                      
SMBC Facility                                
Debt Instrument [Line Items]                                
Total Available [2],[3] 475,000       475,000                      
Principal Outstanding [2],[3] 277,934       283,790                      
Carrying value [2],[3] 277,780       283,591                      
SMBC Facility | SMBC LC Facility                                
Debt Instrument [Line Items]                                
Maximum borrowing capacity 175,000     $ 175,000 175,000                      
SMBC Facility | Term Loan                                
Debt Instrument [Line Items]                                
Total Available 25,000       25,000                      
Principal Outstanding 25,000       25,000                      
Carrying value $ 24,800       $ 24,800                      
[1] As of December 31, 2025 and December 31, 2024, the total available debt under the SBA Debentures was $350.0 million, of which $175.0 million was available to HC IV and $175.0 million was available to SBIC V.
[2] In November 2024, the Company amended its SMBC Facility and converted a portion of the existing revolver facility into a term loan facility in connection therewith. As of December 31, 2025, the term loan portion of the SMBC Facility for total available, outstanding principal, and carrying value was $25.0 million, $25.0 million, and $24.8 million, respectively. As of December 31, 2024, the term loan portion of the SMBC Facility for total available, outstanding principal, and carrying value was $25.0 million, $25.0 million, and $24.8 million, respectively.
[3] “Total Available” includes $175.0 million of available commitment through the letter of credit facility as of December 31, 2025 and December 31, 2024.