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Financial Highlights
 12 Months Ended
Dec. 31, 2022
Investment Company [Abstract]  
Financial Highlights Financial Highlights
The following information sets forth the Company's financial highlights for the years ended December 31, 2022, December 31, 2021, December 31, 2020, December 31, 2019 and December 31, 2018.
 Year Ended December 31,
 20222021202020192018
Per share data(1):    
Net asset value at the beginning of the period$13.49 $12.62 $13.26 $13.22 $13.63 
Net investment income1.18 1.21 1.20 1.37 1.39 
Net realized and unrealized (losses) gains(2)(0.43)0.86 (0.60)0.03 (0.44)
Total net increase0.75 2.07 0.60 1.40 0.95 
Distributions declared to stockholders from net investment income(1.22)(1.20)(1.24)(1.36)(1.36)
Net asset value at the end of the period$13.02 $13.49 $12.62 $13.26 $13.22 
Per share market value at the end of the period$12.37 $13.70 $11.36 $13.74 $12.58 
Total return based on market value(3)(0.56)%31.91 %(5.24)%20.45 %2.70 %
Total return based on net asset value(4)5.71 %16.97 %5.52 %10.90 %7.16 %
Shares outstanding at end of period100,937,026 97,907,441 96,827,342 96,827,342 76,106,372 
Average weighted shares outstanding for the period100,202,847 96,952,959 96,827,342 85,209,378 76,022,375 
Average net assets for the period$1,344,266 $1,261,338 $1,168,043 $1,154,615 $1,026,313 
Ratio to average net assets: 
Net investment income8.82 %9.32 %10.05 %10.15 %10.33 %
Total expenses, before waivers/reimbursements13.35 %13.11 %14.56 %14.87 %12.90 %
Total expenses, net of waivers/reimbursements13.01 %12.05 %13.39 %13.80 %12.22 %
Average debt outstanding—Holdings Credit Facility$581,367 $478,016 $526,645 $598,129 $384,433 
Average debt outstanding—Convertible Notes (5)228,806 201,250 201,250 234,332 197,058 
Average debt outstanding—SBA-guaranteed debentures300,000 300,000 285,852 179,408 158,471 
Average debt outstanding—Unsecured Notes526,829 516,611 453,250 414,949 266,296 
Average debt outstanding—NMFC Credit Facility(6)133,053 132,685 155,497 105,533 117,719 
Average debt outstanding—DB Credit Facility(7)209,898 209,307 233,649 113,967 49,833 
Average debt outstanding—NMNLC Credit Facility(8)— — — 1,471 3,570 
Average debt outstanding—NMNLC Credit Facility II(9)7,195 3,501 — — — 
Asset coverage ratio(10)177.42 %181.21 %180.68 %173.98 %181.37 %
Portfolio turnover18.01 %35.33 %15.43 %11.58 %36.75 %
(1)Per share data is based on weighted average shares outstanding for the respective period (except for distributions declared to stockholders which is based on actual rate per share).
(2)Includes the effect of common stock issuances per share, which for the years ended December 31, 2022, December 31, 2021, December 31, 2020, December 31, 2019 and December 31, 2018 were $0.01, $(0.01), $0.00, $0.08 and $0.00, respectively.
(3)Total return is calculated assuming a purchase of common stock at the opening of the first day of the year and a sale on the closing of the last business day of the period. Dividends and distributions, if any, are assumed for purposes of this calculation, to be reinvested at prices obtained under the Company's dividend reinvestment plan. Total return does not reflect sales load.
(4)Total return is calculated assuming a purchase at net asset value on the opening of the first day of the year and a sale at net asset value on the last day of the period. Dividends and distributions, if any, are assumed for purposes of this calculation, to be reinvested at the net asset value on the last day of the respective quarter. Total return does not reflect sales load.
(5)For the year ended December 31, 2022, average debt outstanding includes the 2022 Convertible Notes for the period from November 2, 2022 (issuance of the 2022 Convertible Notes) to December 31, 2022.
(6)Under the NMFC Credit Facility, the Company may borrow in U.S. dollars or certain other permitted currencies. As of December 31, 2022, the Company had borrowings denominated in GBP of £22,850 and borrowings denominated in EUR of €700 that has been converted to U.S. dollars. As of December 31, 2021, the Company had borrowings denominated in GBP of £16,400 that has been converted to U.S. dollars.
(7)For the year ended December 31, 2018, average debt outstanding represents the period from December 14, 2018 (commencement of the DB Credit Facility) to December 31, 2018.
(8)For the year ended December 31, 2020, average debt outstanding represents the period from January 1, 2020 to September 23, 2020 (maturity of the NMNLC Credit Facility). For the year ended December 31, 2018, average debt outstanding represents the period from September 21, 2018 (commencement of the NMNLC Credit Facility to December 31, 2018.
(9)For the year ended December 31, 2021, average debt outstanding represents the period from February 26, 2021 (commencement of the NMNLC Credit Facility II) to December 31, 2021.
(10)On November 5, 2014, the Company received exemptive relief from the SEC allowing the Company to modify the asset coverage requirement to exclude the SBA-guaranteed debentures from this calculation.