Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS

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CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (in shares) 133,045,000    
Beginning balance $ 1,401,459 $ 1,308,547 $ 1,291,704
Net increase (decrease) in net assets resulting from operations $ 337,484 $ 102,081 $ 174,155
Public offering, net of offering expenses (in shares) 22,700,000 14,600,000 600,000
Public offering, net of offering expenses $ 338,215 $ 229,659 $ 10,620
Issuance of common stock under equity-based award plans 495 1,484 3,903
Shares retired on vesting of equity-based awards $ (13,197) $ (6,016) $ (6,719)
Distributions reinvested in common stock (in shares) 303,960 259,466 248,041
Distributions reinvested in common stock $ 4,624 $ 3,953 $ 4,074
Distributions (278,301) (249,077) (179,575)
Stock-based compensation [1] $ 11,927 $ 10,828 10,385
Ending balance (in shares) 157,758,000 133,045,000  
Ending balance $ 1,802,706 $ 1,401,459 $ 1,308,547
Common Stock      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance (in shares) 133,044,602 116,619,000 114,726,000
Beginning balance $ 134 $ 117 $ 115
Public offering, net of offering expenses (in shares) 22,728,000 14,559,000 639,000
Public offering, net of offering expenses $ 22 $ 15 $ 1
Issuance of common stock under equity-based award plans (in shares) 1,932,000 922,000 1,311,000
Issuance of common stock under equity-based award plans $ 2 $ 1 $ 1
Shares retired on vesting of equity-based awards (in shares) (251,000) (295,000) (305,000)
Distributions reinvested in common stock (in shares) 304,000 259,000 248,000
Issuance of Convertible Notes (in shares)   981,000  
Issuance of Convertible Notes   $ 1  
Distributions $ (275,548) $ (246,873) $ (177,864)
Ending balance (in shares) 157,758,072 133,044,602 116,619,000
Ending balance $ 158 $ 134 $ 117
Capital in Excess of Par Value      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance 1,341,416 1,091,907 1,158,198
Public offering, net of offering expenses 338,193 229,644 10,619
Issuance of common stock under equity-based award plans 493 1,483 3,902
Shares retired on vesting of equity-based awards (13,197) (6,016) (6,719)
Distributions reinvested in common stock 4,624 3,953 4,074
Issuance of Convertible Notes   (1)  
Stock-based compensation [1] 11,927 10,828 10,385
Tax reclassification of stockholders' equity in accordance with generally accepted accounting principles (20,921) 9,618 (88,552)
Ending balance 1,662,535 1,341,416 1,091,907
Distributable Earnings      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Beginning balance 59,909 216,523 133,391
Net increase (decrease) in net assets resulting from operations 337,484 102,081 174,155
Distributions (278,301) (249,077) (179,575)
Tax reclassification of stockholders' equity in accordance with generally accepted accounting principles 20,921 (9,618) 88,552
Ending balance $ 140,013 $ 59,909 $ 216,523
[1] Stock-based compensation includes $117 thousand, $149 thousand, and $125 thousand of restricted stock and option expense related to director compensation for the years ended December 31, 2023, 2022 and 2021, respectively.