Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Investment income:        
Total interest and dividend income $ 117,529 $ 108,986 $ 233,308 $ 208,883
Total fee income 7,477 7,245 13,251 12,438
Total investment income 125,006 116,231 246,559 221,321
Operating expenses:        
Interest 19,162 17,184 36,786 33,809
Loan fees 2,346 2,464 4,743 4,793
General and administrative 4,481 5,151 9,539 9,277
Tax expenses 1,754 1,980 2,465 3,367
Employee compensation:        
Compensation and benefits 14,414 12,841 30,758 27,458
Stock-based compensation 3,343 3,325 6,477 6,511
Total employee compensation 17,757 16,166 37,235 33,969
Total gross operating expenses 45,500 42,945 90,768 85,215
Expenses allocated to the Adviser Subsidiary (2,852) (2,414) (5,729) (5,093)
Total net operating expenses 42,648 40,531 85,039 80,122
Net investment income 82,358 75,700 161,520 141,199
Net realized gain (loss):        
Total net realized gain (loss) (5,784) 217 2,384 8,177
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) (34,722) 18,858 (31,088) 39,963
Total net realized gain (loss) and net change in unrealized appreciation (depreciation) (40,506) 19,075 (28,704) 48,140
Net increase (decrease) in net assets resulting from operations $ 41,852 $ 94,775 $ 132,816 $ 189,339
Net investment income before gains and losses per common share:        
Basic (in dollars per share) $ 0.51 $ 0.53 $ 1.01 $ 1.01
Change in net assets resulting from operations per common share:        
Basic (in dollars per share) 0.26 0.66 0.83 1.35
Diluted (in dollars per share) $ 0.25 $ 0.66 $ 0.82 $ 1.34
Weighted average shares outstanding:        
Basic (in shares) 160,748 141,390 159,096 138,338
Diluted (in shares) 161,309 142,084 159,614 139,587
Distributions paid per common share:        
Basic (in dollars per share) $ 0.48 $ 0.47 $ 0.96 $ 0.94
Non-control/Non-affiliate investments        
Investment income:        
Total interest and dividend income $ 114,072 $ 107,931 $ 226,894 $ 206,712
Total fee income 7,441 7,226 13,179 12,400
Net realized gain (loss):        
Non-control/Non-affiliate investments (5,784) 217 2,384 8,177
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) (33,216) 14,285 (26,753) 26,544
Control investments        
Investment income:        
Total interest and dividend income 3,457 1,055 6,414 2,171
Total fee income 36 19 72 38
Total investment income     6,486 2,209
Net realized gain (loss):        
Non-control/Non-affiliate investments 0 0 0 0
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) $ (1,506) $ 4,573 $ (4,335) $ 13,419