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FINANCIAL HIGHLIGHTS (Tables)
 12 Months Ended
Dec. 31, 2023
Investment Company [Abstract]  
Schedule of Financial Highlights
The following is a schedule of financial highlights as of and for the years ended December 31, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015 and 2014:

 As of and For the Year Ended December 31,
Per Share Data:20232022202120202019
Net asset value, beginning of period(1)$18.40 $18.96 $16.97 $17.32 $17.12 
Issuances of common stock0.01 0.10 0.11 — 0.02 
Repurchases of common stock— — — 0.11 — 
Net investment income for period(2)2.28 2.19 1.66 1.87 1.90 
Net realized and unrealized gains (losses) for period(2)0.47 (0.98)1.84 (0.73)(0.04)
Net increase in stockholders’ equity2.76 1.31 3.61 1.25 1.88 
Total distributions to stockholders(3)(1.92)(1.87)(1.62)(1.60)(1.68)
Net asset value at end of period(1)$19.24 $18.40 $18.96 $16.97 $17.32 
Per share market value at end of period$20.03 $18.47 $21.19 $16.89 $18.65 
Total return based on market value(4)19.94 %(3.83)%36.18 %(0.86)%30.49 %
Total return based on net asset value(5)15.65 %7.13 %21.97 %5.20 %12.14 %
Shares outstanding at end of period582 519 468 423 431 
Ratio/Supplemental Data: 
Net assets at end of period$11,201 $9,555 $8,868 $7,176 $7,467 
Ratio of operating expenses to average net assets(6)(7)12.78 %10.19 %13.05 %10.27 %9.92 %
Ratio of net investment income to average net assets(6)(8)12.10 %11.73 %9.19 %11.39 %11.01 %
Portfolio turnover rate(6)26 %37 %60 %40 %38 %
 As of and For the Years Ended December 31,
Per Share Data:20182017201620152014
Net asset value, beginning of period(1)$16.65 $16.45 $16.46 $16.82 $16.46 
Issuances of common stock— (0.01)— 0.01 — 
Repurchases of common stock— — — (0.01)— 
Deemed contribution from Ares Capital Management— 0.13 — — — 
Issuances of convertible notes— 0.04 — — — 
Net investment income for period(2)1.63 1.20 1.57 1.62 1.43 
Net realized and unrealized gains (losses) for period(2)0.38 0.36 (0.06)(0.41)0.50 
Net increase in stockholders’ equity2.01 1.72 1.51 1.21 1.93 
Total distributions to stockholders(3)(1.54)(1.52)(1.52)(1.57)(1.57)
Net asset value at end of period(1)$17.12 $16.65 $16.45 $16.46 $16.82 
Per share market value at end of period$15.58 $15.72 $16.49 $14.25 $15.61 
Total return based on market value(4)8.91 %4.55 %26.39 %1.35 %(3.32)%
Total return based on net asset value(5)12.10 %10.53 %9.15 %7.16 %11.79 %
Shares outstanding at end of period426 426 314 314 314 
Ratio/Supplemental Data:
Net assets at end of period$7,300 $7,098 $5,165 $5,173 $5,284 
Ratio of operating expenses to average net assets(6)(7)8.63 %9.45 %9.59 %9.51 %10.46 %
Ratio of net investment income to average net assets(6)(8)9.60 %7.65 %9.58 %9.75 %8.71 %
Portfolio turnover rate(6)54 %51 %39 %42 %39 %
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(1)The net assets used equals the total stockholders’ equity on the consolidated balance sheet.

(2)Weighted average basic per share data.

(3)Includes additional dividend of (a) $0.12 per share for the year ended December 31, 2022, (b) $0.08 per share for the year ended December 31, 2019, (c) $0.05 per share for the year ended December 31, 2015 and (d) $0.05 per
share for the year ended December 31, 2014.

(4)For the year ended December 31, 2023, the total return based on market value equaled the increase of the ending market value at December 31, 2023 of $20.03 per share from the ending market value at December 31, 2022 of $18.47 per share plus the declared and payable dividends of $1.92 per share for the year ended December 31, 2023, divided by the market value at December 31, 2022. For the year ended December 31, 2022, the total return based on market value equaled the decrease of the ending market value at December 31, 2022 of $18.47 per share from the ending market value at December 31, 2021 of $21.19 per share plus the declared and payable dividends of $1.87 per share for the year ended December 31, 2022, divided by the market value at December 31, 2021. For the year ended December 31, 2021, the total return based on market value equaled the increase of the ending market value at December 31, 2021 of $21.19 per share from the ending market value at December 31, 2020 of $16.89 per share plus the declared and payable dividends of $1.62 per share for the year ended December 31, 2021, divided by the market value at December 31, 2020. For the year ended December 31, 2020, the total return based on market value equaled the decrease of the ending market value at December 31, 2020 of $16.89 per share from the ending market value at December 31, 2019 of $18.65 per share plus the declared and payable dividends of $1.60 per share for the year ended December 31, 2020, divided by the market value at December 31, 2019. For the year ended December 31, 2019, the total return based on market value equaled the increase of the ending market value at December 31, 2019 of $18.65 per share from the ending market value at December 31, 2018 of $15.58 per share plus the declared and payable dividends of $1.68 per share for the year ended December 31, 2019, divided by the market value at December 31, 2018. For the year ended December 31, 2018, the total return based on market value equaled the decrease of the ending market value at December 31, 2018 of $15.58 per share from the ending market value at December 31, 2017 of $15.72 per share plus the declared and payable dividends of $1.54 per share for the year ended December 31, 2018, divided by the market value at December 31, 2017. For the year ended December 31, 2017, the total return based on market value equaled the decrease of the ending market value at December 31, 2017 of $15.72 per share from the ending market value at
December 31, 2016 of $16.49 per share plus the declared and payable dividends of $1.52 per share for the year ended December 31, 2017, divided by the market value at December 31, 2016. For the year ended December 31, 2016, the total return based on market value equaled the increase of the ending market value at December 31, 2016 of $16.49 per share from the ending market value at December 31, 2015 of $14.25 per share plus the declared and payable dividends of $1.52 per share for the year ended December 31, 2016, divided by the market value at December 31, 2015. For the year ended December 31, 2015, the total return based on market value equaled the decrease of the ending market value at December 31, 2015 of $14.25 per share from the ending market value at December 31, 2014 of $15.61 per share plus the declared and payable dividends of $1.57 per share for the year ended December 31, 2015, divided by the market value at December 31, 2014. For the year ended December 31, 2014, the total return based on market value equaled the decrease of the ending market value at December 31, 2014 of $15.61 per share from the ending market value at December 31, 2013 of $17.77 per share plus the declared and payable dividends of $1.57 per share for the year ended December 31, 2014, divided by the market value at December 31, 2013. The Company’s performance changes over time and currently may be different than that shown. Past performance is no guarantee of future results.

(5)For the year ended December 31, 2023, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.92 per share for the year ended December 31, 2023, divided by the beginning net asset value for the period. For the year ended December 31, 2022, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.87 per share for the year ended December 31, 2022, divided by the beginning net asset value for the period. For the year ended December 31, 2021, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.62 per share for the year ended December 31, 2021, divided by the beginning net asset value for the period. For the year ended December 31, 2020, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.60 per share for the year ended December 31, 2020, divided by the beginning net asset value for the period. For the year ended December 31, 2019, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.68 per share for the year ended December 31, 2019, divided by the beginning net asset value for the period. For the year ended December 31, 2018, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.54 per share for the year ended December 31, 2018, divided by the beginning net asset value for the period. For the year ended December 31, 2017, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.52 per share for the year ended December 31, 2017, divided by the beginning net asset value for the period. These calculations are adjusted for shares issued in connection with the dividend reinvestment plan, the issuance of common stock in connection with any equity offerings and the equity components of any convertible notes issued during the period. For the year ended December 31, 2016, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.52 per share for the year ended December 31, 2016, divided by the beginning net asset value for the period. For the year ended December 31, 2015, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.57 per share for the year ended December 31, 2015, divided by the beginning net asset value for the period. For the year ended December 31, 2014, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.57 per share for the year ended December 31, 2014, divided by the beginning net asset value for the period. The Company’s performance changes over time and currently may be different than that shown. Past performance is no guarantee of future results.

(6)The ratios reflect an annualized amount.
(7)For the years ended December 31, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015 and 2014, the ratio of operating expenses to average net assets consisted of the following:
 For the Years Ended December 31,
20232022202120202019
Base management fees3.11 %3.27 %3.14 %3.10 %2.78 %
Income based fees and capital gains incentive fees, net of the fee waiver3.66 %1.61 %4.80 %1.80 %2.23 %
Income based fees and capital gains incentive fees excluding the fee waiver3.66 %1.61 %4.80 %1.80 %2.64 %
Cost of borrowing5.60 %4.89 %4.61 %4.54 %3.94 %
Other operating expenses0.41 %0.42 %0.50 %0.83 %0.97 %
 For the Years Ended December 31,
20182017201620152014
Base management fees2.49 %2.57 %2.64 %2.55 %2.51 %
Income based fees and capital gains incentive fees, net of the fee waiver2.24 %2.18 %2.29 %2.31 %2.90 %
Income based fees and capital gains incentive fees excluding the fee waiver2.79 %2.32 %2.29 %2.31 %2.90 %
Cost of borrowing3.33 %3.37 %3.58 %4.32 %4.24 %
Other operating expenses0.57 %1.33 %1.08 %0.33 %0.81 %
(8)The ratio of net investment income to average net assets excludes income taxes related to realized gains and losses.