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Distributable Taxable Income (Tables)
 9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Reconciliation of Net Increase in Net Assets Resulting From Operations to Taxable Income

The following reconciles net increase in net assets resulting from operations to taxable income for the nine months ended September 30, 2022 and 2021:

 

 

 

Nine Months Ended September 30,

 

($ in thousands)

 

2022

 

 

2021

 

 

 

 

 

 

 

 

Net (decrease) increase in net assets resulting from operations

 

$

(8,580

)

 

$

28,026

 

Tax (provision) benefit on realized and unrealized gains (losses) on investments

 

 

1,059

 

 

 

-

 

Net change in unrealized depreciation (appreciation) from investments

 

 

712

 

 

 

(7,593

)

Net realized losses

 

 

28,631

 

 

 

13,208

 

Book/tax differences on CLO equity investments

 

 

(1,323

)

 

 

3,030

 

Book/tax differences related to mergers and partnership investments

 

 

1,208

 

 

 

(17,490

)

Other book/tax differences

 

 

385

 

 

 

1,301

 

Taxable income before deductions for distributions

 

$

22,092

 

 

$

20,482

 

Taxable income before deductions for distributions per weighted
   average basic and diluted shares for the period1

 

$

2.29

 

 

$

2.49

 
(1)
The Company completed a Reverse Stock Split of 10 to 1 effective August 26, 2021, amounts have been adjusted retroactively to reflect the split.