Condensed Quarterly Financial Data (Unaudited)

Detailed below is unaudited quarterly financial data for the years ended December 31, 2014 and 2013.



	Three Month Period Ended March 31, 2014			Three Month Period Ended June 30, 2014		Three Month Period Ended September 30, 2014⁽¹⁾			Three Month Period Ended December 31, 2014
(In thousands except per share amounts)
INVESTMENT INCOME
Interest income	$	21,496		$	20,996	$	22,353		$	28,688
Other investment income	—			—		168			150
Total investment income	21,496			20,996		22,521			28,838
EXPENSES
Base management fee	2,364			2,368		3,056			2,963
Incentive fee	—			—		1,400			—
Interest expense	2,627			2,416		2,179			2,705
Other investment related expenses	430			1,232		1,217			1,810
Other operating expenses	1,994			1,974		2,070			2,295
Total expenses	7,415			7,990		9,922			9,773
NET INVESTMENT INCOME	14,081			13,006		12,599			19,065
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY
Net realized gain (loss) on investments, financial derivatives, and foreign currency transactions	11,408			3,684		(8,483		)	(2,447		)
Change in net unrealized gain (loss) on investments, financial derivatives, and foreign currency translation	(2,651		)	4,514		9,031			(13,858		)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY	8,757			8,198		548			(16,305		)
NET INCREASE IN EQUITY RESULTING FROM OPERATIONS	22,838			21,204		13,147			2,760
LESS: NET INCREASE IN EQUITY RESULTING FROM OPERATIONS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	203			257		199			123
NET INCREASE IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS	$	22,635		$	20,947	$	12,948		$	2,637
NET INCREASE IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS PER SHARE:
Basic and Diluted⁽²⁾	$	0.88		$	0.81	$	0.46		$	0.08


(1)	Prior period conformed to current period presentation.


(2)	For the year ended December 31, 2014 the sum of EPS for the four quarters of the year does not equal EPS as calculated for the entire year (see Note 11) as a result of issuances of common shares and LTIP units during the year, as EPS is calculated using average shares outstanding during the period.



	Three Month Period Ended March 31, 2013		Three Month Period Ended June 30, 2013			Three Month Period Ended September 30, 2013			Three Month Period Ended December 31, 2013
(In thousands except per share amounts)
INVESTMENT INCOME
Interest income	$	18,382	$	20,335		$	24,069		$	22,954
Other investment income	—		—			—			—
Total investment income	18,382		20,335			24,069			22,954
EXPENSES
Base management fee	1,967		2,405			2,378			2,365
Incentive fee	2,055		1,182			2,038			3,091
Interest expense	2,142		2,582			3,277			3,024
Other investment related expenses	—		327			85			84
Other operating expenses	1,649		1,671			1,885			1,878
Total expenses	7,813		8,167			9,663			10,442
NET INVESTMENT INCOME	10,569		12,168			14,406			12,512
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY
Net realized gain (loss) on investments, financial derivatives, and foreign currency transactions	12,592		5,671			4,289			(4,550		)
Change in net unrealized gain (loss) on investments, financial derivatives, and foreign currency translation	17,585		(6,134		)	(6,872		)	7,126
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY	30,177		(463		)	(2,583		)	2,576
NET INCREASE IN EQUITY RESULTING FROM OPERATIONS	40,746		11,705			11,823			15,088
LESS: NET INCREASE IN EQUITY RESULTING FROM OPERATIONS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	411		105			96			226
NET INCREASE IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS	$	40,335	$	11,600		$	11,727		$	14,862
NET INCREASE IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS PER SHARE:
Basic and Diluted⁽¹⁾	$	1.94	$	0.49		$	0.45		$	0.58


(1)	For the year ended December 31, 2013 the sum of EPS for the four quarters of the year does not equal EPS as calculated for the entire year (see Note 11) as a result of issuances of common shares and LTIP units during the year, as EPS is calculated using average shares outstanding during the period.