XML 34 R20.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Earnings Per Share
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Shares used in the computation of the Company’s basic and diluted earnings per share are as follows:
(in thousands, except per share data)Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
Numerator
Net increase (decrease) in net assets resulting from operations$41,852 $94,775 $132,816 $189,339 
Less: Total distributions declared(77,894)(67,379)(153,925)(132,153)
Total Earnings (loss), net of total distributions(36,042)27,396 (21,109)57,186 
Earnings (loss), net of distributions attributable to common shares(36,042)27,108 (21,110)56,552 
Add: Distributions declared attributable to common shares77,157 66,672 152,387 130,696 
Numerator for basic and diluted change in net assets per common share$41,115 $93,780 $131,277 $187,248 
Denominator
Basic weighted average common shares outstanding160,748141,390159,096138,338
Common shares issuable5616945181,249
Weighted average common shares outstanding assuming dilution161,309142,084159,614139,587
Change in net assets per common share:
Basic$0.26 $0.66 $0.83 $1.35 
Diluted$0.25 $0.66 $0.82 $1.34 
In the table above, unvested share-based payment awards that have non-forfeitable rights to distributions or distribution equivalents are treated as participating securities for calculating earnings per share. Unvested common stock options and restricted stock units are also considered for the purpose of calculating diluted earnings per share.
The calculation of change in net assets resulting from operations per common share assuming dilution, excludes all anti-dilutive shares. For the three and six months ended June 30, 2024, and 2023, the number of anti-dilutive shares, as calculated based on the weighted average closing price of the Company’s common stock for the periods, are as follows:
Three Months Ended June 30,Six Months Ended June 30,
Anti-dilutive Securities2024202320242023
Unvested common stock options7983,1461,4012,499
Restricted stock units—9,555—8,714
Unvested restricted stock awards14765,34652159,854

As of June 30, 2024 and December 31, 2023, the Company was authorized to issue 200.0 million shares of common stock with a par value of $0.001. Each share of common stock entitles the holder to one vote.