Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Investment income:        
Total interest and dividend income $ 110,339 $ 81,408 $ 319,222 $ 212,391
Total fee income 6,405 2,821 18,843 9,110
Total investment income 116,744 84,229 338,065 221,501
Operating expenses:        
Interest 16,428 14,499 50,237 38,844
Loan fees 2,524 2,183 7,317 5,517
General and administrative 4,591 4,364 13,868 12,504
Tax expenses 1,882 1,602 5,249 4,135
Employee compensation:        
Compensation and benefits 13,604 10,968 41,062 30,357
Stock-based compensation 3,337 2,474 9,848 10,559
Total employee compensation 16,941 13,442 50,910 40,916
Total gross operating expenses 42,366 36,090 127,581 101,916
Expenses allocated to the Adviser Subsidiary (2,416) (1,863) (7,509) (6,335)
Total net operating expenses 39,950 34,227 120,072 95,581
Net investment income 76,794 50,002 217,993 125,920
Net realized gain (loss):        
Loss on extinguishment of debt 0 0 0 (3,686)
Total net realized gain (loss) (2,587) 5,289 5,590 775
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) (46,240) (2,089) (6,277) (87,147)
Total net realized gain (loss) and net change in unrealized appreciation (depreciation) (48,827) 3,200 (687) (86,372)
Net increase (decrease) in net assets resulting from operations $ 27,967 $ 53,202 $ 217,306 $ 39,548
Net investment income before gains and losses per common share:        
Basic (in dollars per share) $ 0.52 $ 0.39 $ 1.53 $ 1.01
Change in net assets resulting from operations per common share:        
Basic (in dollars per share) 0.19 0.41 1.52 0.31
Diluted (in dollars per share) $ 0.19 $ 0.41 $ 1.51 $ 0.30
Weighted average shares outstanding:        
Basic (in shares) 146,898,936 127,484,391 141,222,973 123,378,699
Diluted (in shares) 147,110,000 129,334,000 142,126,000 124,767,000
Distributions paid per common share:        
Basic (in dollars per share) $ 0.48 $ 0.50 $ 1.42 $ 1.46
Non-control/Non-affiliate investments        
Investment income:        
Total interest and dividend income $ 109,240 $ 80,146 $ 315,952 $ 207,747
Total fee income 6,383 2,803 18,783 9,059
Net realized gain (loss):        
Total net realized gain (loss) (2,587) 7,303 5,590 2,703
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) (45,141) (4,149) (18,597) (94,847)
Control investments        
Investment income:        
Total interest and dividend income 1,099 1,181 3,270 3,440
Total fee income 22 18 60 51
Total investment income     3,330 3,490
Net realized gain (loss):        
Total net realized gain (loss) 0 0 0 0
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) (1,099) (2,571) 12,320 3,611
Affiliate investments        
Investment income:        
Total interest and dividend income 0 81 0 1,204
Net realized gain (loss):        
Total net realized gain (loss) 0 (2,014) 0 1,758
Net change in unrealized appreciation (depreciation):        
Total net change in unrealized appreciation (depreciation) $ 0 $ 4,631 $ 0 $ 4,089