v3.25.4

INCOME TAXES (Tables)

9 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Distribution

Our distributions for the tax years ended December 31, 2025, 2024 and 2023 were as follows:

Payment Date			Cash Dividend per Share
Tax Year Ended December 31, 2025
March 31, 20251			$	0.64
June 30, 20251			0.64
July 31, 2025			0.1934
August 31, 2025			0.1934
September 30, 20251			0.2534
October 31, 2025			0.1934
November 30, 2025			0.1934
December 31, 20251			0.2534
			$	2.56

Tax Year Ended December 31, 2024
March 31, 20241			$	0.63
June 30, 20241			0.63
September 30, 20241			0.64
December 31, 20242			0.63
			$	2.53
Tax Year Ended December 31, 2023
March 31, 20232			$	0.58
June 30, 20232			0.59
September 30, 20231			0.62
December 31, 20231			0.63
			$	2.42

1On each of these dates, the dividend paid included a supplemental dividend of $0.06 per share.

2On each of these dates, the dividend paid included a supplemental dividend of $0.05 per share.

The tax character of distributions paid for the tax years ended December 31, 2025 and 2024 was as follows (amounts in thousands):

			Twelve Months Ended December 31,
			2025						2024
Ordinary income			$	140,809					$	118,216
Distributions of long term capital gains			—						—
Distributions on tax basis1			$	140,809					$	118,216

1Includes only those distributions which reduce estimated taxable income.

Schedule of Book and Tax Basis Differences Relating to Dividends and Distributions

Book and tax basis differences relating to dividends and distributions to our shareholders and other permanent book and tax differences are typically reclassified among the CSWC’s capital accounts. In addition, the character of income and gains to be distributed is determined in accordance with income tax regulations that may differ from U.S. GAAP; accordingly, for the nine months ended December 31, 2025 and 2024, CSWC reclassified for book purposes amounts arising from permanent book/tax differences related to the tax treatment of return of capital and/or deemed distributions, tax treatment of investments upon disposition, and non-deductible expenses, as follows (amounts in thousands):

			Nine Months Ended December 31,
			2025						2024
Additional capital			$	(35,430)					$	(5,521)
Total distributable earnings			35,430						5,521

Schedule of Net Assets Resulting from Operations to Estimated RIC Taxable Income

The following reconciles net increase in net assets resulting from operations to estimated RIC taxable income for the nine months ended December 31, 2025 and 2024 (amounts in thousands):

			Nine Months Ended December 31,
Reconciliation of RIC Distributable Income (1)			2025						2024
Net increase in net assets from operations			$	85,516					$	52,987
Net unrealized depreciation on investments			24,188						14,574
Expense/loss recognized for tax on pass-through entities			—						(80)
Realized (gain) loss book/tax differences			(1,185)						8,580
Capital loss carryover (2)			14,242						12,987
Net operating income - wholly-owned subsidiary			(31,380)						(2,705)
Dividend income from wholly-owned subsidiary			26,770						(962)
Non-deductible tax expense			1,922						1,016
Loss on extinguishment of debt			(4,089)						(2,045)
Non-deductible compensation			4,252						5,164
Compensation related book/tax differences			1,946						(3,887)
Interest on non-accrual loans			4,828						10,513
Other book/tax differences			(15)						(237)
Estimated distributable income before deductions for distributions			$	126,995					$	95,905

(1)The calculation of taxable income for each period is an estimate and will not be finally determined until the Company files its tax return each year. Final taxable income may be different than this estimate.

(2)At December 31, 2025, the Company had long-term capital loss carryforwards of $145.1 million to offset future capital gains. These capital loss carryforwards are not subject to expiration.

Schedule of Deferred Tax Assets and Liabilities

The following table sets forth the significant components of the deferred tax assets and liabilities as of December 31, 2025 and March 31, 2025 (amounts in thousands):

			December 31, 2025						March 31, 2025
Deferred tax asset:
Net operating loss carryforwards			$	443					$	253
Interest			2,542						1,811
Total deferred tax asset			2,985						2,064
Deferred tax liabilities:
Net unrealized appreciation on investments			(15,341)						(15,054)
Net basis differences in portfolio investments			(2,670)						(3,790)
Total deferred tax liabilities			(18,011)						(18,844)
Total net deferred tax (liabilities) assets			$	(15,026)					$	(16,780)

Schedule of Significant Components of Income Tax Provision

The following table sets forth the significant components of income tax provision as of December 31, 2025 and 2024 (amounts in thousands):

			Three Months Ended December 31,												Nine Months Ended December 31,
Components of Income Tax Provision			2025						2024						2025						2024
Excise tax			$	447					$	451					$	1,860					$	943
Tax provision related to Taxable Subsidiary			(2,789)						(107)						(1,416)						627
Other			(12)						23						62						73
Total income tax provision			$	(2,354)					$	367					$	506					$	1,643

X

- Definition

Investment Company, Distribution To Shareholders

+ References

No definition available.

+ Details

Name:	cswc_InvestmentCompanyDistributionToShareholdersTableTextBlock
Namespace Prefix:	cswc_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Investment Company, Dividends and Distributions, Tax Differences

+ References

No definition available.

+ Details

Name:	cswc_InvestmentCompanyDividendsAndDistributionsTaxDifferencesTableTextBlock
Namespace Prefix:	cswc_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the federal tax basis of investment holdings. This item captures the aggregate cost of securities, aggregate gross unrealized appreciation for all securities in which there is an excess of value over tax cost, aggregate gross unrealized depreciation for all securities in which there is an excess of tax cost over value, net unrealized appreciation (depreciation), and an explanation of the differences between tax and book.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

+ Details

Name:	us-gaap_FederalIncomeTaxNoteTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration