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Fair Value - Level III Rollforward (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2023 | Dec. 31, 2022
Total |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | $ 3,136,291 | $ 2,843,456
Purchases, including capitalized PIK and revolver fundings | 349,003 | 693,202
Proceeds from sales and paydowns of investments | (582,011) | (604,861)
Transfers into Level III | 63,087 | 222,167
Transfers out of Level III | (11,490) |
Ending balance | 2,938,849 | 3,136,291
Unrealized (depreciation) appreciation for the period relating to those Level III assets that were still held by the Company at the end of the period: | (34,144) | (30,244)
Total | Net realized gains (losses) on investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (33,048) | 52,934
Total | Net change in unrealized appreciation (depreciation) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 17,017 | (70,607)
First lien |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 1,753,967 | 1,635,143
Purchases, including capitalized PIK and revolver fundings | 302,949 | 621,319
Proceeds from sales and paydowns of investments | (407,081) | (493,579)
Transfers into Level III | 0 | 12,083
Transfers out of Level III | (11,490) |
Ending balance | 1,637,889 | 1,753,967
Unrealized (depreciation) appreciation for the period relating to those Level III assets that were still held by the Company at the end of the period: | 12,890 | (36,175)
First lien | Net realized gains (losses) on investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (41,767) | 12,351
First lien | Net change in unrealized appreciation (depreciation) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 41,311 | (33,350)
Second lien |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 480,068 | 319,120
Purchases, including capitalized PIK and revolver fundings | 4,484 | 9,187
Proceeds from sales and paydowns of investments | (140,837) | (15,948)
Transfers into Level III | 63,087 | 210,084
Transfers out of Level III | 0 |
Ending balance | 406,180 | 480,068
Unrealized (depreciation) appreciation for the period relating to those Level III assets that were still held by the Company at the end of the period: | 1,625 | (42,817)
Second lien | Net realized gains (losses) on investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (24,627) | 0
Second lien | Net change in unrealized appreciation (depreciation) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 24,005 | (42,375)
Subordinated |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 72,842 | 50,742
Purchases, including capitalized PIK and revolver fundings | 10,141 | 26,418
Proceeds from sales and paydowns of investments | 0 | 0
Transfers into Level III | 0 | 0
Transfers out of Level III | 0 |
Ending balance | 82,871 | 72,842
Unrealized (depreciation) appreciation for the period relating to those Level III assets that were still held by the Company at the end of the period: | (4) | (4,318)
Subordinated | Net realized gains (losses) on investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 0 | 0
Subordinated | Net change in unrealized appreciation (depreciation) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (112) | (4,318)
Equity and other |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 829,414 | 838,451
Purchases, including capitalized PIK and revolver fundings | 31,429 | 36,278
Proceeds from sales and paydowns of investments | (34,093) | (95,334)
Transfers into Level III | 0 | 0
Transfers out of Level III | 0 |
Ending balance | 811,909 | 829,414
Unrealized (depreciation) appreciation for the period relating to those Level III assets that were still held by the Company at the end of the period: | (48,655) | 53,066
Equity and other | Net realized gains (losses) on investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 33,346 | 40,583
Equity and other | Net change in unrealized appreciation (depreciation) |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | $ (48,187) | $ 9,436

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