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 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Investment income:        
Total interest and dividend income $ 119,050 $ 110,339 $ 352,358 $ 319,222
Total fee income 6,198 6,405 19,449 18,843
Total investment income 125,248 116,744 371,807 338,065
Operating expenses:        
Interest 20,370 16,428 57,156 50,237
Loan fees 1,993 2,524 6,736 7,317
General and administrative 4,596 4,591 14,135 13,868
Tax expenses 1,986 1,882 4,451 5,249
Employee compensation:        
Compensation and benefits 12,159 13,604 42,917 41,062
Stock-based compensation 3,194 3,337 9,671 9,848
Total employee compensation 15,353 16,941 52,588 50,910
Total gross operating expenses 44,298 42,366 135,066 127,581
Expenses allocated to the Adviser Subsidiary (2,214) (2,416) (7,943) (7,509)
Total net operating expenses 42,084 39,950 127,123 120,072
Net investment income 83,164 76,794 244,684 217,993
Net realized gain (loss):        
Total net realized gain (loss) (559) (2,587) 1,825 5,590
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) (13,894) (46,240) (44,982) (6,277)
Total net realized gain (loss) and net change in unrealized appreciation (depreciation) (14,453) (48,827) (43,157) (687)
Net increase (decrease) in net assets resulting from operations $ 68,711 $ 27,967 $ 201,527 $ 217,306
Net investment income before gains and losses per common share:        
Basic (in dollars per share) $ 0.51 $ 0.52 $ 1.52 $ 1.53
Change in net assets resulting from operations per common share:        
Basic (in dollars per share) 0.42 0.19 1.25 1.52
Diluted (in dollars per share) $ 0.42 $ 0.19 $ 1.24 $ 1.51
Weighted average shares outstanding:        
Basic (in shares) 161,019 146,899 159,742 141,223
Diluted (in shares) 161,515 147,110 160,253 142,126
Distributions paid per common share:        
Basic (in dollars per share) $ 0.48 $ 0.48 $ 1.44 $ 1.42
Non-control/Non-affiliate investments        
Investment income:        
Total interest and dividend income $ 115,563 $ 109,240 $ 342,457 $ 315,952
Total fee income 6,162 6,383 19,341 18,783
Net realized gain (loss):        
Non-control/Non-affiliate investments (559) (2,587) 1,825 5,590
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) (15,167) (45,141) (41,920) (18,597)
Control investments        
Investment income:        
Total interest and dividend income 3,487 1,099 9,901 3,270
Total fee income 36 22 108 60
Total investment income     10,009 3,330
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) $ 1,273 $ (1,099) $ (3,062) $ 12,320