XML 10 R4.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Investment Income:        
Total interest income $ 30,815 $ 31,857 $ 93,345 $ 91,502
Total payment-in-kind interest income 3,185 1,851 7,884 5,745
Total dividend income 989 1,384 2,851 2,138
Total fee income 1,322 2,693 7,333 6,574
Interest on idle funds 942 597 2,306 2,738
Total investment income 37,253 38,382 113,719 108,697
Expenses:        
Interest and financing expenses 7,649 6,026 22,191 18,100
Base management fee 5,253 4,848 15,281 13,986
Incentive fee - income 4,371 5,059 13,819 14,072
Incentive fee (reversal) - capital gains 354 (987) 1,972 942
Administrative service expenses 708 688 2,064 1,894
Professional fees 713 567 2,959 2,469
Other general and administrative expenses 494 266 921 764
Total expenses before base management fee waiver 19,542 16,467 59,207 52,227
Base management fee waiver (57) (64) (175) (200)
Total expenses, net of base management fee waiver 19,485 16,403 59,032 52,027
Net investment income before income taxes 17,768 21,979 54,687 56,670
Income tax provision (benefit) 399 568 468 682
Net investment income 17,369 21,411 54,219 55,988
Net realized and unrealized gains (losses) on investments:        
Total net realized gain (loss) on investments (930) (366) 4,832 12,161
Income tax (provision) benefit from realized gains on investments (421) 0 (2,350) (1,523)
Total net change in unrealized appreciation (depreciation) on investments 3,424 (4,568) 8,009 (5,406)
Net gain (loss) on investments 2,073 (4,934) 10,491 5,232
Realized losses on extinguishment of debt (304) 0 (630) (521)
Net increase (decrease) in net assets resulting from operations $ 19,138 $ 16,477 $ 64,080 $ 60,699
Per common share data:        
Net investment income per share-basic $ 0.49 $ 0.64 $ 1.55 $ 1.74
Net investment income per share-diluted 0.49 0.64 1.55 1.74
Net increase in net assets resulting from operations per share - basic 0.54 0.49 1.83 1.89
Net increase in net assets resulting from operations per share - diluted 0.54 0.49 1.83 1.89
Dividends declared per share $ 0.57 $ 0.57 $ 1.65 $ 1.81
Weighted average number of shares outstanding - basic 35,721,635 33,380,480 34,991,361 32,138,865
Weighted average number of shares outstanding - diluted 35,721,635 33,380,480 34,991,361 32,138,865
Control Investments        
Net realized and unrealized gains (losses) on investments:        
Total net realized gain (loss) on investments $ 0 $ 0 $ 0 $ 0
Total net change in unrealized appreciation (depreciation) on investments 0 0 0 0
Affiliate Investments        
Investment Income:        
Total interest income 1,090 870 3,258 2,603
Total dividend income 329 1,328 1,381 1,830
Total fee income 8 5 24 15
Net realized and unrealized gains (losses) on investments:        
Total net realized gain (loss) on investments 897 0 10,963 0
Total net change in unrealized appreciation (depreciation) on investments 1,634 2,075 (1,758) 417
Non-control/Non-affiliate Investments        
Investment Income:        
Total interest income 29,725 30,987 90,087 88,899
Total payment-in-kind interest income 3,185 1,851 7,884 5,745
Total dividend income 660 56 1,470 308
Total fee income 1,314 2,688 7,309 6,559
Net realized and unrealized gains (losses) on investments:        
Total net realized gain (loss) on investments (1,827) (366) (6,131) 12,161
Total net change in unrealized appreciation (depreciation) on investments $ 1,790 $ (6,643) $ 9,767 $ (5,823)