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Fair Value - Level III Rollforward (Details) - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2024 | Mar. 31, 2023
Total |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | $ 2,938,849 | $ 3,136,291
Purchases, including capitalized PIK and revolver fundings | 227,711 | 130,933
Proceeds from sales and paydowns of investments | (170,754) | (90,638)
Transfers into Level III | 28,440 |
Ending balance | 3,015,453 | 3,184,377
Net change in 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: | (12,429) | (6,956)
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 | (11,890) | 708
Total | Net change in unrealized appreciation (depreciation) of investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 3,097 | 7,083
First lien |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 1,637,889 | 1,753,967
Purchases, including capitalized PIK and revolver fundings | 172,750 | 117,905
Proceeds from sales and paydowns of investments | (111,778) | (71,263)
Transfers into Level III | 28,440 |
Ending balance | 1,731,416 | 1,798,746
Net change in 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: | 3,813 | (2,055)
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 | (11,859) | (13,956)
First lien | Net change in unrealized appreciation (depreciation) of investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 15,974 | 12,093
Second lien |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 406,180 | 480,068
Purchases, including capitalized PIK and revolver fundings | 43,125 | 945
Proceeds from sales and paydowns of investments | (58,964) | 0
Transfers into Level III | 0 |
Ending balance | 395,898 | 480,398
Net change in 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: | 2,216 | 4,096
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 | 0 | (4,711)
Second lien | Net change in unrealized appreciation (depreciation) of investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | 5,557 | 4,096
Subordinated |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 82,871 | 72,842
Purchases, including capitalized PIK and revolver fundings | 2,733 | 1,769
Proceeds from sales and paydowns of investments | 0 | 0
Transfers into Level III | 0 |
Ending balance | 85,343 | 74,348
Net change in 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: | (261) | (156)
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) of investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | (261) | (263)
Equity and other |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Beginning balance | 811,909 | 829,414
Purchases, including capitalized PIK and revolver fundings | 9,103 | 10,314
Proceeds from sales and paydowns of investments | (12) | (19,375)
Transfers into Level III | 0 |
Ending balance | 802,796 | 830,885
Net change in 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: | (18,197) | (8,841)
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 | (31) | 19,375
Equity and other | Net change in unrealized appreciation (depreciation) of investments |  |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |
Total gains or losses included in earnings | $ (18,173) | $ (8,843)

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- Definition Amount of unrealized gain (loss) recognized in income from asset measured at fair value on recurring basis using unobservable input (level 3) and still held. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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