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
Mar. 31, 2023
Mar. 31, 2022
Investment income:    
Total interest and dividend income $ 99,897 $ 62,252
Fee Income 5,193 2,905
Gross Investment Income, Operating, Total 105,090 65,157
Operating expenses:    
Interest expense, debt [1] 16,625 11,647
Loan fees 2,329 1,842
General and administrative 4,126 3,818
Investment Income, Operating, Tax Expense (Benefit) 1,387 712
Total gross operating expenses 42,270 30,772
Expenses allocated to the Adviser Subsidiary (2,679) (1,402)
Employee compensation:    
Compensation and benefits 14,617 8,329
Employee benefits and share-based compensation 3,186 4,424
Employee compensation 17,803 12,753
Total net operating expenses 39,591 29,370
Net investment income 65,499 35,787
Net realized gain (loss):    
Loss on debt extinguishment of debt 0 (3,686)
Total net realized gain (loss) 7,960 (2,381)
Net change in unrealized appreciation (depreciation):    
Total net change in unrealized appreciation (depreciation) 21,105 (36,742)
Total net realized gain (loss) and net change in unrealized appreciation (depreciation) 29,065 (39,123)
Net increase (decrease) in net assets resulting from operations $ 94,564 $ (3,336)
Net investment income before investment gains and losses per common share:    
Net investment income before investment gains and losses per common share: Basic [2] $ 0.48 $ 0.30
Change in net assets resulting from operations per common share:    
Basic 0.69 (0.03)
Diluted $ 0.68 $ (0.03)
Weighted average shares outstanding    
Basic 135,252 118,296
Diluted 137,056 118,296
Distributions paid per common share:    
Basic $ 0.47  
Common Stock [Member]    
Net investment income before investment gains and losses per common share:    
Net investment income before investment gains and losses per common share: Basic 0.48 $ 0.30
Distributions paid per common share:    
Basic $ 0.47 $ 0.48
Investment, Affiliated Issuer [Member]    
Investment income:    
Gross Investment Income, Operating, Total [3]   $ 2,178
Net realized gain (loss):    
Total net realized gain (loss)   3,772
Net change in unrealized appreciation (depreciation):    
Total net change in unrealized appreciation (depreciation)   2,207
Investment, Unaffiliated Issuer [Member]    
Investment income:    
Total interest and dividend income $ 98,781 60,090
Fee Income 5,174 2,889
Net realized gain (loss):    
Total net realized gain (loss) 7,960 (2,467)
Net change in unrealized appreciation (depreciation):    
Total net change in unrealized appreciation (depreciation) 12,259 (38,949)
Investment, Affiliated Issuer, Controlled [Member]    
Investment income:    
Total interest and dividend income 1,116 1,115
Fee Income 19 16
Gross Investment Income, Operating, Total 1,135 [4] 1,131 [3]
Net realized gain (loss):    
Total net realized gain (loss) 0 0
Net change in unrealized appreciation (depreciation):    
Total net change in unrealized appreciation (depreciation) 8,846 1,454
Investment, Affiliated Issuer, Noncontrolled [Member]    
Investment income:    
Total interest and dividend income 0 1,047
Gross Investment Income, Operating, Total [3]   1,047
Net realized gain (loss):    
Total net realized gain (loss) 0 3,772
Net change in unrealized appreciation (depreciation):    
Total net change in unrealized appreciation (depreciation) $ 0 $ 753
[1] Interest expense includes amortization of original issue discounts for the three months ended March 31, 2022 of $23 thousand, $112 thousand, $42 thousand, and $98 thousand, related to the 2022 Notes, 2022 Convertible Notes, September 2026 Notes, and January 2027 Notes, respectively.
[2] All per share activity is calculated based on the weighted average shares outstanding for the relevant period, except net increase (decrease) in net assets from capital share transactions, which is based on the common shares outstanding as of the relevant balance sheet date.
[3] Represents the total amount of interest, fees, or dividends credited to income for the period an investment was an affiliate or control investment.
[4] Represents the total amount of interest, fees, or dividends credited to income for the period an investment was an affiliate or control investment.