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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Investment income      
Fee income $ 11,694 $ 9,544 $ 5,927
Total investment income 251,010 194,898 157,348
Operating expenses      
Management fees 26,856 27,361 31,143
Administrative services expense 3,971 3,348 3,069
Subordinated incentive fee on income 22,277 18,710 6,875
General and administrative 7,382 7,278 9,805
Interest expense 85,556 49,624 31,807
Total operating expenses 146,042 106,321 82,699
Net investment income before taxes 104,968 88,577 74,649
Income tax (benefit) expense, including excise tax (54) 372 342
Net investment income after taxes 105,022 88,205 74,307
Realized and unrealized (losses) gains      
Net realized (losses) gains (31,927) (32,747) 843
Foreign currency 0 (3) (3)
Net realized (losses) gains (31,927) (32,750) 840
Net change in unrealized appreciation (depreciation) on investments 22,219 (5,314) 43,617
Net realized and unrealized (losses) gains (9,708) (38,064) 44,457
Net increase in net assets resulting from operations $ 95,314 $ 50,141 $ 118,764
Per share information—basic and diluted      
Net (decrease) increase in net assets per share resulting from operations (in dollars per share) [1] $ 1.74 $ 0.89 $ 2.09
Net investment income per share (in dollars per share) [1] $ 1.92 $ 1.56 $ 1.31
Weighted average shares of common stock outstanding - basic (in shares) [1] 54,685,327 56,556,510,000 56,808,960,000
Weighted average shares of common stock outstanding - diluted (in shares) [1] 54,685,327 56,556,510,000 56,808,960,000
Non-controlled, non-affiliated investments      
Investment income      
Interest income $ 184,013 $ 140,560 $ 119,792
Paid-in-kind interest income 22,317 22,737 17,306
Fee income 7,871 9,019 5,927
Dividend income 210 103 366
Realized and unrealized (losses) gains      
Net realized (losses) gains (31,927) (11,217) (4,100)
Net change in unrealized appreciation (depreciation) on investments 15,658 (19,807) 25,566
Non-controlled, affiliated investments      
Investment income      
Interest income 7,068 5,865 4,961
Paid-in-kind interest income 8,372 6,204 3,160
Fee income 2,432 525 0
Dividend income 3,946 79 5,576
Realized and unrealized (losses) gains      
Net realized (losses) gains 0 (21,530) 8,010
Net realized (losses) gains 0    
Net change in unrealized appreciation (depreciation) on investments (7,335) 13,523 7,261
Controlled investments      
Investment income      
Interest income 8,090 6,049 0
Paid-in-kind interest income 1,050 2,482 260
Fee income 1,391 0 0
Dividend income 4,250 1,275 0
Realized and unrealized (losses) gains      
Net realized (losses) gains 0 0 (3,067)
Net realized (losses) gains 0    
Net change in unrealized appreciation (depreciation) on investments $ 13,896 $ 970 $ 10,790
[1] As discussed in Note 3, the Company completed a two-to-one reverse stock split, effective as of September 21, 2021. The weighted average shares used in the computation of the net increase (decrease) in net assets per share resulting from operations and net investment income per share for 2021 reflect the reverse stock split on a retroactive basis.