Quarterly report [Sections 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
Mar. 31, 2025
Mar. 31, 2024
Investment income:    
Total interest and dividend income, excluding PIK interest income $ 102,099 $ 105,882
Total PIK interest income 13,473 9,897
Total interest and dividend income 115,572 115,779
Total fee income 3,939 5,774
Total investment income 119,511 121,553
Operating expenses:    
Interest 19,698 17,624
Loan fees 2,398 2,397
General and administrative 4,812 5,058
Tax expenses 912 711
Employee compensation:    
Compensation and benefits 13,914 16,344
Stock-based compensation 3,602 3,134
Total employee compensation 17,516 19,478
Total gross operating expenses 45,336 45,268
Expenses allocated to the Adviser Subsidiary (3,283) (2,877)
Total net operating expenses 42,053 42,391
Net investment income 77,458 79,162
Net realized gain (loss):    
Loss on extinguishment of debt (15) 0
Total net realized gain (loss) (1,556) 8,168
Net change in unrealized appreciation (depreciation):    
Total net change in unrealized appreciation (depreciation) (25,565) 3,634
Total net realized gain (loss) and net change in unrealized appreciation (depreciation) (27,121) 11,802
Net increase (decrease) in net assets resulting from operations $ 50,337 $ 90,964
Net investment income before gains and losses per common share:    
Basic (in dollars per share) $ 0.45 $ 0.50
Change in net assets resulting from operations per common share:    
Basic (in dollars per share) 0.29 0.57
Diluted (in dollars per share) $ 0.29 $ 0.57
Weighted average shares outstanding:    
Basic (in shares) 171,494 157,445
Diluted (in shares) 175,383 157,920
Distributions paid per common share:    
Basic (in dollars per share) $ 0.47 $ 0.48
Non-control/Non-affiliate investments    
Investment income:    
Total interest and dividend income, excluding PIK interest income $ 98,996 $ 102,925
Total PIK interest income 12,939 9,897
Total fee income 3,900 5,738
Net realized gain (loss):    
Non-control/Non-affiliate investments (1,541) 8,168
Net change in unrealized appreciation (depreciation):    
Total net change in unrealized appreciation (depreciation) (27,542) 6,463
Control investments    
Investment income:    
Total interest and dividend income, excluding PIK interest income 3,103 2,957
Total PIK interest income 534 0
Total interest and dividend income 3,637 2,957
Total fee income 39 36
Total investment income 3,676 2,993
Net realized gain (loss):    
Non-control/Non-affiliate investments 0 0
Net change in unrealized appreciation (depreciation):    
Total net change in unrealized appreciation (depreciation) $ 1,977 $ (2,829)