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Financial Highlights
 12 Months Ended
Dec. 31, 2024
Investment Company [Abstract]  
Financial Highlights Financial Highlights
The following is a schedule of financial highlights as of and for the years ended December 31, 2024, 2023, 2022, 2021 and 2020:
Years Ended December 31,
20242023202220212020
Per share data:(1)
Net asset value at beginning of period$16.23 $15.98 $16.34 $15.50 $16.80 
Results of operations:
Net investment income1.79 1.92 1.56 1.31 1.39 
Net realized (loss) gain and net change in unrealized (depreciation) appreciation on investments and (loss) gain on foreign currency(2)(1.16)(0.18)(0.68)0.79 (1.57)
Net increase (decrease) in net assets resulting from operations(2)0.63 1.74 0.88 2.10 (0.18)
Shareholder distributions:
Distributions from net investment income(1.52)(1.61)(1.44)(1.26)(1.12)
Net decrease in net assets resulting from shareholders' distributions(1.52)(1.61)(1.44)(1.26)(1.12)
Capital share transactions:
Repurchases of common stock below net asset value(3)0.09 0.12 0.20 — — 
Net increase in net assets resulting from capital share transactions0.09 0.12 0.20 — — 
Net asset value at end of period$15.43 $16.23 $15.98 $16.34 $15.50 
Shares of common stock outstanding at end of period53,189,269 54,184,636 55,299,484 56,958,440 56,646,867 
Total investment return-net asset value(4)7.71 %17.00 %10.44 %14.43 %(0.94)%
Total investment return-market value(5)14.37 %34.33 %(14.87)%3.87 %— 
Net assets at beginning of period$879,563 $883,634 $930,512 $878,256 $952,563 
Net assets at end of period$820,810 $879,563 $883,634 $930,512 $878,256 
Average net assets$861,376 $864,886 $917,781 $918,824 $875,846 
Ratio/Supplemental data:
Ratio of net investment income to average net assets11.13 %12.14 %9.61 %8.09 %8.99 %
Ratio of net operating expenses to average net assets18.18 %16.88 %11.63 %9.04 %9.72 %
Portfolio turnover rate(6)25.85 %17.43 %26.81 %52.04 %22.99 %
Total amount of senior securities outstanding$1,117,344 $1,092,344 $957,500 $830,000 $725,000 
Asset coverage ratio(7)1.73 1.81 1.92 2.12 2.21 
(1)The per share data for the years ended December 31, 2024, 2023, 2022, 2021 and 2020 was derived by using the weighted average shares of common stock outstanding during each period. The share information utilized to determine per share data for 2021 and 2020 in this table has been retroactively adjusted to reflect the reverse stock split effective on September 21, 2021, under which every two shares of our common stock then issued and outstanding were automatically combined into one share.
(2)The amount shown for net realized (loss) gain, net change in unrealized (depreciation) appreciation on investments and (loss) gain on foreign currency is the balancing figure derived from the other figures in the schedule. The amount shown at this caption for a share outstanding throughout the period may not agree with the change in the aggregate gains and losses in portfolio securities for the period because of the timing of sales and repurchases of the Company’s shares in relation to fluctuating market values for the portfolio. As a result, net increase (decrease) in net assets resulting from operations in this schedule may vary from the consolidated statements of operations.
(3)Repurchases of common stock may have caused an incremental decrease or increase in net asset value per share due to the repurchase of shares at a price in excess of or below net asset value per share, respectively, on each repurchase date. The per share impact of repurchases of common stock was a decrease to net asset value of less than $0.01 per share during the years ended December 31, 2021 and 2020.
(4)Total investment return-net asset value is a measure of the change in total value for shareholders who held the Company’s common stock at the beginning and end of the period, including distributions paid or payable during the period. Total investment return-net asset value is based on (i) the beginning period net asset value per share on the first day of the period, (ii) the net asset value per share on the last day of the period of (A) one share plus (B) any fractional shares issued in connection with the reinvestment of distributions, and (iii) the value of distributions payable, if any, on the last day of the period. The total investment return-net asset value calculation assumes that distributions are reinvested in accordance with the Company's distribution reinvestment plan then in effect as described in Note 5. The total investment return-net asset value does not consider the effect of the sales load from the sale of the Company’s common stock. The total investment return-net asset value includes the effect of the issuance of shares at a net offering price that is greater than net asset value per share, which causes an increase in net asset value per share. Total returns covering less than a full year are not annualized.
(5)Total investment return-market value for the years ended December 31, 2024, 2023, 2022 and 2021 was calculated by taking the change in the market price of the Company's common stock since the first day of the period, and including the impact of distributions reinvested in accordance with the Company’s New DRP. Total investment return-market value does not consider the effect of any sales commissions or charges that may be incurred in connection with the sale of shares of the Company’s common stock. The historical calculation of total investment return-market value in the table should not be considered a representation of the Company’s future total return based on market value, which may be greater or less than the return shown in the table due to a number of factors, including the Company’s ability or inability to make investments in companies that meet its investment criteria, the interest rates payable on the debt securities the Company acquires, the level of the Company’s expenses, variations in and the timing of the recognition of realized and unrealized gains or losses, the degree to which the Company encounters competition in its markets, general economic conditions and fluctuations in per share market value. As a result of these factors, results for any previous period should not be relied upon as being indicative of performance in future periods.
(6)Portfolio turnover rate is calculated using the lesser of year-to-date sales or purchases over the average of the invested assets at fair value, excluding short term investments, and is not annualized.
(7)Asset coverage ratio is equal to (i) the sum of (a) net assets at the end of the period and (b) total senior securities outstanding at the end of the period (excluding unfunded commitments), divided by (ii) total senior securities outstanding at the end of the period.