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FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Significant Unobservable Inputs (Details) $ in Millions | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($)
--- | --- | ---
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value | $ 22,873.7 | [1] | $ 21,779.8 | [2]
Level 3 |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value | 22,084.0 |  | 21,361.0 |
Level 3 | Yield analysis | First lien senior secured loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value | 9,584.0 |  | 9,165.0 |
Level 3 | Yield analysis | Second lien senior secured loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value | 3,536.0 |  | 3,841.0 |
Level 3 | Yield analysis | Senior subordinated loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value | 1,073.0 |  | 1,021.0 |
Level 3 | Discounted cash flow analysis | Subordinated certificates of the SDLP |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value | 1,288.0 |  | 1,249.0 |
Level 3 | Discounted cash flow analysis | Ivy Hill Asset Management, L.P. |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value | 1,987.0 |  | 2,201.0 |
Level 3 | EV market multiple analysis | Preferred equity |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value | 2,456.0 |  | 2,023.0 |
Level 3 | EV market multiple analysis | Other equity |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Fair Value | $ 2,160.0 |  | $ 1,861.0 |
Level 3 | Market yield | Yield analysis | Minimum | First lien senior secured loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 6.4 |  | 7.6 |
Level 3 | Market yield | Yield analysis | Minimum | Second lien senior secured loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 10 |  | 11 |
Level 3 | Market yield | Yield analysis | Minimum | Senior subordinated loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 8 |  | 8 |
Level 3 | Market yield | Yield analysis | Maximum | First lien senior secured loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 35 |  | 26.1 |
Level 3 | Market yield | Yield analysis | Maximum | Second lien senior secured loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 37.3 |  | 32.4 |
Level 3 | Market yield | Yield analysis | Maximum | Senior subordinated loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 19.2 |  | 16.3 |
Level 3 | Market yield | Yield analysis | Weighted Average | First lien senior secured loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 12.7 |  | 12.3 |
Level 3 | Market yield | Yield analysis | Weighted Average | Second lien senior secured loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 14.8 |  | 14.9 |
Level 3 | Market yield | Yield analysis | Weighted Average | Senior subordinated loans |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 14.6 |  | 12.9 |
Level 3 | Discount rate | Discounted cash flow analysis | Minimum | Subordinated certificates of the SDLP |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 12.3 |  | 12.4 |
Level 3 | Discount rate | Discounted cash flow analysis | Minimum | Ivy Hill Asset Management, L.P. |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 11.6 |  | 12.9 |
Level 3 | Discount rate | Discounted cash flow analysis | Maximum | Subordinated certificates of the SDLP |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 14.6 |  | 14.8 |
Level 3 | Discount rate | Discounted cash flow analysis | Maximum | Ivy Hill Asset Management, L.P. |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 32.6 |  | 25.7 |
Level 3 | Discount rate | Discounted cash flow analysis | Weighted Average | Subordinated certificates of the SDLP |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 13.3 |  | 13.5 |
Level 3 | Discount rate | Discounted cash flow analysis | Weighted Average | Ivy Hill Asset Management, L.P. |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 14.2 |  | 14.2 |
Level 3 | EBITDA multiple | EV market multiple analysis | Minimum | Preferred equity |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 4.3 |  | 2.6 |
Level 3 | EBITDA multiple | EV market multiple analysis | Minimum | Other equity |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 5.3 |  | 2.1 |
Level 3 | EBITDA multiple | EV market multiple analysis | Maximum | Preferred equity |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 35 |  | 40.6 |
Level 3 | EBITDA multiple | EV market multiple analysis | Maximum | Other equity |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 33.8 |  | 52.1 |
Level 3 | EBITDA multiple | EV market multiple analysis | Weighted Average | Preferred equity |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 16.4 |  | 15.7 |
Level 3 | EBITDA multiple | EV market multiple analysis | Weighted Average | Other equity |  |  |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] |  |  |  |
Unobservable Input | 14.8 |  | 15.6 |
[1] | As of December 31, 2023, the estimated net unrealized loss for federal tax purposes was $0.4 billion based on a tax cost basis of $22.5 billion. As of December 31, 2023, the estimated aggregate gross unrealized loss for federal income tax purposes was $1.7 billion and the estimated aggregate gross unrealized gain for federal income tax purposes was $1.3 billion.
[2] | As of December 31, 2022, the estimated net unrealized loss for federal tax purposes was $0.2 billion based on a tax cost basis of $22.0 billion. As of December 31, 2022, the estimated aggregate gross unrealized loss for federal income tax purposes was $1.2 billion and the estimated aggregate gross unrealized gain for federal income tax purposes was $1.0 billion.

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