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Financial Highlights (Tables)

12 Months Ended

Dec. 31, 2023

Investment Company, Financial Highlights [Abstract]

The following is a schedule of financial highlights for the years ended December 31, 2023 to 2014:


	Years Ended December 31,
	2023			2022			2021			2020			2019
Per share data:
Net asset value at beginning of period	$	19.43		$	19.96		$	16.81		$	16.85		$	16.47
Net investment income (1)		2.47			1.90			1.03			1.62			1.31
Net realized gain (loss) on investments, net of tax (provision) (1)		0.85			2.61			2.19			(0.06	)		(0.05	)
Taxes paid on deemed distributions(1)		-			(0.35	)		-			-			-
Net unrealized appreciation (depreciation) on investments (1)		(0.39	)		(2.69	)		1.70			(0.27	)		0.74
Realized losses on extinguishment of debt (1)		-			(0.01	)		(0.17	)		(0.01	)		(0.02	)
Total increase from investment operations (1)		2.93			1.46			4.75			1.28			1.98
Accretive (dilutive) effect of share issuances and repurchases		0.02			0.02			-			0.01			-
Dividends declared to stockholders		(2.37	)		(1.19	)		(1.60	)		(1.33	)		(1.60	)
Distributions from capital gains		(0.51	)		(0.81	)		-			-			-
Other (2)		(0.13	)		(0.01	)		-			-			-
Net asset value at end of period	$	19.37		$	19.43		$	19.96		$	16.81		$	16.85
Market value at end of period	$	19.69		$	19.03		$	17.98		$	13.10		$	14.84
Shares outstanding at end of period		30,438,979			24,727,788			24,437,400			24,437,400			24,463,119
Weighted average shares outstanding during the period		26,365,269			24,468,172			24,437,400			24,442,431			24,463,119
Net assets at end of period	$	589,474		$	480,343		$	487,764		$	410,760		$	412,310
Average net assets (6)	$	517,287		$	482,594		$	437,690		$	392,866		$	404,284
Ratios to average net assets:
Total expenses (4)(10)		12.9	%		12.0	%		15.4	%		11.8	%		11.2	%
Net investment income (5)		12.6	%		9.6	%		5.7	%		10.1	%		7.9	%
Total return based on market value (3)		17.8	%		17.7	%		53.9	%		1.0	%		37.6	%
Total return based on net asset value (8)		15.1	%		7.3	%		28.3	%		7.6	%		12.0	%
Portfolio turnover ratio		28.3	%		23.9	%		47.7	%		25.8	%		17.2	%
Supplemental Data:
Average debt outstanding (7)	$	455,053		$	397,244		$	380,997		$	385,350		$	319,050
Average debt per share (1)	$	17.26		$	16.24		$	15.59		$	15.77		$	13.04


	Years Ended December 31,
	2018			2017			2016			2015			2014
Per share data:
Net asset value at beginning of period	$	16.05		$	15.76		$	15.17		$	15.16		$	15.35
Net investment income (1)		1.43			1.44			1.45			1.64			1.62
Net realized gain (loss) on investments, net of tax (provision) (1)		(0.45	)		0.67			(0.77	)		0.58			(1.18	)
Taxes paid on deemed distributions(1)		-			-			-			-			-
Net unrealized appreciation (depreciation) on investments (1)		1.05			(0.23	)		1.59			(0.62	)		0.92
Realized losses on extinguishment of debt (1)		(0.01	)		(0.01	)	-				-			-
Total increase from investment operations (1)		2.02			1.87			2.27			1.60			1.36
Accretive (dilutive) effect of share issuances and repurchases		0.01			0.02			(0.05	)		0.02			0.19
Dividends declared to stockholders		(1.60	)		(1.60	)		(1.60	)		(1.60	)		(0.97	)
Distributions from capital gains		-			-			-			-			(0.75	)
Other (2)		(0.01	)		-			(0.03	)		(0.01	)		(0.02	)
Net asset value at end of period	$	16.47		$	16.05		$	15.76		$	15.17		$	15.16
Market value at end of period	$	11.69		$	15.18		$	15.73		$	13.69		$	14.85
Shares outstanding at end of period		24,463,119			24,507,940			22,446,076			16,300,732			16,051,037
Weighted average shares outstanding during the period		24,471,730			23,527,188			18,283,715			16,201,449			14,346,438
Net assets at end of period	$	402,985		$	393,273		$	353,785		$	247,362		$	243,263
Average net assets (6)	$	398,440		$	376,292		$	289,453		$	245,706		$	222,737
Ratios to average net assets:
Total expenses (4)(10)		10.7	%		9.8	%		11.7	%		11.3	%		10.3	%
Net investment income (5)		8.8	%		9.0	%		9.2	%		10.8	%		10.5	%
Total return based on market value (3)		(15.8	%)		3.2	%		23.8	%		2.4	%		(23.8	%)
Total return based on net asset value (8)		12.6	%		11.9	%		15.0	%		10.6	%		8.9	%
Portfolio turnover ratio		29.5	%		29.5	%		29.3	%		22.5	%		18.9	%
Supplemental Data:
Average debt outstanding (7)	$	271,560		$	219,920		$	221,200		$	199,340		$	152,700
Average debt per share (1)	$	11.10		$	9.35		$	12.10		$	12.30		$	10.64

________________________________________________________


(1)	Weighted average per share data.
(2)	Represents the impact of different share amounts used in calculating per share data as a result of calculating certain per share data based on weighted average shares outstanding during the period and certain per share data based on the shares outstanding as of a period end or transaction date, or other rounding.
(3)	Total return based on market value equals the change in the market value of the Company’s common stock per share during the period divided by the market value per share at the beginning of the period, and assumes reinvestment of dividends at prices obtained by our dividend reinvestment plan during the period. The return does not reflect any sales load that may be paid by an investor.
(4)	The total expenses to average net assets ratio is calculated using i) the "total expenses, net of income incentive fee and base management fee waiver", ii) the "income tax (provision) benefit", iii) the "income tax (provision) benefit from realized gains on investments, and iv) income tax (provision) from deemed distribution of long term capital gains" captions as presented on the consolidated statements of operations.
(5)	The net investment income to average net assets ratio is calculated using the net investment income caption as presented on the consolidated statements of operations, which includes incentive fee.
(6)	Average net assets is calculated as the average of the net asset balances as of each quarter end during the fiscal year and the prior year end.
(7)	Average debt outstanding is calculated as the average of the outstanding debt balances, including secured borrowings, as of each quarter end during the fiscal year and the prior year end.
(8)	Total return based on net asset value per share equals the change in net asset value per share during the period, plus dividends paid per share during the period, less other non-operating changes during the period, and divided by beginning net asset value per share for the period. Non-operating changes include any items that affect net asset value per share other than increase from investment operations, such as the effects of share issuances and repurchases and other miscellaneous items.
(9)	There was no incentive fee waived for the years ended December 31, 2023, 2022 and 2021, The ratio of waived incentive fees to average net assets was (0.11)% for the year ended December 31, 2020. There was no incentive fee waived for the years ended December 31, 2019 through 2014.
(10)	The following is a schedule of supplemental expense ratios to average net assets:


	Years Ended December 31,
Ratio to average net assets:	2023			2022			2021			2020			2019
Expenses other than incentive fee (4)		9.2	%		10.4	%		8.9	%		10.1	%		8.5	%
Incentive fee, net of incentive fee waiver (4)(9)		3.7	%		1.6	%		6.5	%		1.7	%		2.7	%
Total expenses (4)		12.9	%		12.0	%		15.4	%		11.8	%		11.2	%


	Years Ended December 31,
Ratio to average net assets:	2018			2017			2016			2015			2014
Expenses other than incentive fee (4)		7.6	%		6.9	%		8.1	%		8.7	%		8.1	%
Incentive fee, net of incentive fee waiver (4)(9)		3.1	%		2.9	%		3.6	%		2.6	%		2.2	%
Total expenses (4)		10.7	%		9.8	%		11.7	%		11.3	%		10.3	%


	Years Ended December 31,
Ratio to average net assets:	2023			2022			2021			2020			2019
Total expenses, before base management fee waiver (4)		12.9	%		12.1	%		15.4	%		11.8	%		11.2	%
Base management fee waiver (4)(9)		0.0	%		(0.1	%)		0.0	%		0.0	%		0.0	%
Total expenses (4)		12.9	%		12.0	%		15.4	%		11.8	%		11.2	%


	Years Ended December 31,
Ratio to average net assets:	2018			2017			2016			2015			2014
Total expenses, before base management fee waiver (4)		10.7	%		9.8	%		11.7	%		11.3	%		10.3	%
Base management fee waiver (4)(9)		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Total expenses (4)		10.7	%		9.8	%		11.7	%		11.3	%		10.3	%