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Distributions (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Summary of Cash Distributions Paid on Common Stock Including Tax Basis
The following table reflects the distributions per share that the Company has declared on its common stock during the years ended December 31, 2025, 2024 and 2023:
 
For the Year Ended
December 31, 2025
Date DeclaredDividendRecord DatePayment DateDividend per Share
February 25, 2025BaseMarch 19, 2025April 2, 2025$0.64 
February 25, 2025SupplementalMarch 19, 2025April 2, 20250.06 
May 5, 2025BaseJune 18, 2025July 2, 20250.64 
May 5, 2025SupplementalJune 18, 2025July 2, 20250.06 
July 31, 2025BaseSeptember 17, 2025October 2, 20250.64 
July 31, 2025SupplementalSeptember 17, 2025October 2, 20250.06 
October 8, 2025BaseDecember 3, 2025December 17, 20250.64 
October 8, 2025SupplementalDecember 3, 2025December 17, 20250.06 
Total Dividends Declared$2.80 
 
For the Year Ended
December 31, 2024
Date DeclaredDividendRecord DatePayment DateDividend per Share
November 2, 2023SpecialFebruary 14, 2024February 28, 2024$0.05 
February 20, 2024BaseMarch 13, 2024April 2, 20240.64 
February 20, 2024SupplementalMarch 13, 2024April 2, 20240.06 
November 2, 2023SpecialMay 15, 2024May 29, 20240.05 
May 2, 2024BaseJune 12, 2024July 2, 20240.64 
May 2, 2024SupplementalJune 12, 2024July 2, 20240.06 
July 31, 2024BaseSeptember 11, 2024October 2, 20240.64 
July 31, 2024SupplementalSeptember 11, 2024October 2, 20240.06 
October 8, 2024BaseDecember 4, 2024December 18, 20240.64 
October 8, 2024SupplementalDecember 4, 2024December 18, 20240.06 
Total Dividends Declared$2.90 
 
For the Year Ended
December 31, 2023
Date DeclaredDividendRecord DatePayment DateDividend per Share
February 21, 2023BaseMarch 15, 2023April 3, 2023$0.64 
February 21, 2023SupplementalMarch 15, 2023April 3, 20230.06 
May 4, 2023SpecialMay 17, 2023May 31, 20230.05 
May 4, 2023BaseJune 14, 2023July 5, 20230.64 
May 4, 2023SupplementalJune 14, 2023July 5, 20230.06 
May 4, 2023SpecialAugust 16, 2023August 30, 20230.05 
August 3, 2023BaseSeptember 13, 2023October 3, 20230.64 
August 3, 2023SupplementalSeptember 13, 2023October 3, 20230.06 
May 4, 2023SpecialNovember 15, 2023November 29, 20230.05 
November 2, 2023BaseDecember 13, 2023January 3, 20240.64 
November 2, 2023SupplementalDecember 13, 2023January 3, 20240.06 
Total Dividends Declared$2.95 
The following table reflects the sources of the cash distributions on a tax basis that the Company has paid on its common stock during the years ended December 31, 2025, 2024 and 2023:
 
 Year Ended December 31,
 202520242023
Source of DistributionDistribution
Amount		PercentageDistribution
Amount		PercentageDistribution
Amount		Percentage
Offering proceeds$— — $— — $— — 
Borrowings— — — — — — 
Net investment income(1)
784 100 %812 100 %827 100 %
Short-term capital gains proceeds from the sale of assets
— — — — — — 
Long-term capital gains proceeds from the sale of assets
— — — — — — 
Non-capital gains proceeds from the sale of assets— — — — — — 
Distributions on account of preferred and common equity
— — — — — — 
Total$784 100 %$812 100 %$827 100 %
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(1)During the years ended December 31, 2025, 2024 and 2023, 83.4%, 85.2% and 86.6%, respectively, of the Company’s gross investment income was attributable to cash income earned, 1.8%, 2.5% and 2.9%, respectively, was attributable to non-cash accretion of discount and 14.8%, 12.3% and 10.5%, respectively, was attributable to paid-in-kind, or PIK, interest.
Summary of Reconciliation of Net Investment Income and Tax-basis Net Investment Income
The following table sets forth a reconciliation between GAAP-basis net investment income and tax-basis net investment income during the years ended December 31, 2025, 2024 and 2023:
 Year Ended December 31,
 202520242023
GAAP-basis net investment income$654 $813 $892 
Income subject to tax not recorded for GAAP86 (35)74 
GAAP accretion from merger not recognized for tax(24)(33)(46)
Excise taxes22 23 22 
GAAP versus tax-basis impact of consolidation of certain subsidiaries1 6 6 
Reclassification of unamortized original issue discount and prepayment fees(13)(21)(3)
Other miscellaneous differences(74)(18)(2)
Tax-basis net investment income$652 $735 $943 
Summary of Components of Accumulated Earnings
As of December 31, 2025 and 2024, the components of accumulated earnings on a tax basis were as follows:
Year Ended December 31,
20252024
Distributable ordinary income$464 $525 
Distributable realized gains (accumulated capital losses)(1)
(3,107)(2,703)
Other temporary differences32 24 
Net unrealized appreciation (depreciation)(2)
(739)(508)
Total$(3,350)$(2,662)
 ________________
(1)Net capital losses may be carried forward indefinitely, and their character is retained as short-term or long-term losses. As of December 31, 2025, the Company had capital loss carryforwards available to offset future realized capital gains of approximately $3,107. The capital loss carryforward includes amounts from prior reorganizations that may be limited in their use. Any unused balances resulting from such limitations may be carried forward into future years indefinitely.
(2)As of December 31, 2025 and 2024, the gross unrealized appreciation was $1,138 and $1,254, respectively. As of December 31, 2025 and 2024, the gross unrealized depreciation was $1,877 and $1,762, respectively.