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CONSOLIDATED BALANCE SHEET - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Investments at fair value    
Fair Value $ 28,692.6 [1] $ 26,719.9 [2]
Cash and cash equivalents 1,036.0 635.0
Restricted cash 218.0 225.0
Interest receivable 256.0 292.0
Receivable for open trades 375.0 224.0
Other assets 228.0 158.0
Total assets 30,806.0 28,254.0
LIABILITIES    
Debt 15,605.0 13,727.0
Base management fee payable 108.0 100.0
Income based fee payable 88.0 91.0
Capital gains incentive fee payable 97.0 105.0
Interest and facility fees payable 129.0 170.0
Payable to participants 112.0 163.0
Interest rate swap collateral payable 106.0 62.0
Payable for open trades 1.0 236.0
Accounts payable and other liabilities 214.0 121.0
Deferred tax liabilities 24.0 92.0
Secured borrowings 0.0 32.0
Total liabilities 16,484.0 14,899.0
Commitments and contingencies (Note 7)
STOCKHOLDERS’ EQUITY    
Common stock, par value $0.001 per share, 1,000 common shares authorized; 716 and 672 common shares issued and outstanding, respectively 1.0 1.0
Capital in excess of par value 13,470.0 12,502.0
Accumulated undistributed earnings 851.0 852.0
Total stockholders’ equity 14,322.0 13,355.0
Total liabilities and stockholders’ equity $ 30,806.0 $ 28,254.0
NET ASSETS PER SHARE (in dollars per share) $ 20.01 $ 19.89
Non-controlled/non-affiliate company investments    
Investments at fair value    
Fair Value $ 24,552.0 $ 22,145.0
Non-controlled affiliate company investments    
Investments at fair value    
Fair Value 599.3 707.2
Controlled affiliate company investments    
Investments at fair value    
Fair Value $ 3,542.0 $ 3,867.6
[1] As of September 30, 2025, the estimated net unrealized gain for federal tax purposes was approximately $0.3 billion based on a tax cost basis of $28.4 billion. As of September 30, 2025, the estimated aggregate gross unrealized gain for federal income tax purposes was approximately $1.3 billion and the estimated aggregate gross unrealized loss for federal income tax purposes was approximately $1.0 billion.
[2] As of December 31, 2024, the estimated net unrealized gain for federal tax purposes was $0.2 billion based on a tax cost basis of $26.5 billion. As of December 31, 2024, the estimated aggregate gross unrealized gain for federal income tax purposes was $1.7 billion and the estimated aggregate gross unrealized loss for federal income tax purposes was $1.5 billion.