XML 28 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net increase (decrease) in net assets resulting from operations $ 50,141 $ 118,764 $ (11,022)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Net accretion of discount on investments (11,032) (11,738) (13,214)
Proceeds from principal repayment of investments 407,174 568,907 465,547
Purchase of investments (550,538) (920,039) (359,633)
Paid-in-kind interest and dividends capitalized (31,446) (21,734) (21,420)
Decrease (increase) in short term investments, net 77,048 (14,319) (44,071)
Proceeds from sale of investments 62,586 259,050 77,630
Net realized (loss) gain on investments 32,747 (843) 69,898
Net change in unrealized depreciation (appreciation) on investments 5,314 (43,617) 19,878
Amortization of debt issuance costs 3,175 2,800 5,037
(Increase) decrease in due from counterparty 0 0 3,281
(Increase) decrease in interest receivable on investments (2,821) (4,400) (1,137)
(Increase) decrease in dividends receivable on investments (1,275) 45 1,061
(Increase) decrease in receivable due on investments sold and repaid 1,838 3,339 12,359
(Increase) decrease in prepaid expenses and other assets (359) 1,322 (803)
Increase (decrease) in payable for investments purchased (11,327) 11,194 (1,435)
Increase (decrease) in accounts payable and accrued expenses (910) 1,228 (121)
Increase (decrease) in interest payable 3,481 1,839 (663)
Increase (decrease) in accrued management fees 251 (995) (1,201)
Increase (decrease) in accrued administrative services expense 108 330 48
Increase (decrease) in subordinated incentive fee on income payable 1,123 (381) (1,289)
Net cash provided by (used in) operating activities 35,278 (49,248) 198,730
Financing activities:      
Repurchase of common stock (15,444) (10,467) (23,300)
Shareholders' distributions paid (66,644) (56,041) (39,985)
Repayments under financing arrangements 0 (171,000) (602,194)
Borrowings under financing arrangements 127,500 276,000 486,153
Debt issuance costs paid (1,725) (5,384) (5,625)
Net cash provided by (used in) financing activities 43,687 33,108 (184,951)
Net increase (decrease) in cash and restricted cash 78,965 (16,140) 13,779
Cash and restricted cash, beginning of year 3,774 19,914 6,135
Cash and restricted cash, end of year 82,739 3,774 19,914
Supplemental disclosure of cash flow information:      
Cash paid for interest 42,930 27,129 32,403
Supplemental non-cash financing activities:      
Reinvestment of shareholders' distributions 0 15,489 23,298
Restructuring of portfolio investment 50,554 5,455 91,326
Cash interest receivable exchanged for additional securities $ 0 $ 1,304 $ 0