Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES              
Net increase in net assets resulting from operations $ 106,516 $ 79,592 $ 14,749 $ 65,203 $ 186,107 $ 79,953  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:              
Investments in portfolio companies         (395,305) (540,429)  
Proceeds from sales and repayments of debt investments in portfolio companies         291,557 381,697  
Proceeds from sales and return of capital of equity investments in portfolio companies         31,057 30,293  
Net unrealized (appreciation) depreciation (104,941)   24,593   (140,059) 9,841  
Net realized loss 75,506   5,064   103,886 1,728  
Accretion of unearned income         (9,900) (7,354)  
Payment-in-kind interest         (5,219) (2,364)  
Cumulative dividends         (717) (1,062)  
Share-based compensation expense         8,187 6,414  
Amortization of deferred financing costs         1,582 1,372  
Deferred tax provision 6,976   9,511   13,353 13,299  
Changes in other assets and liabilities:              
Interest and dividend receivable and other assets         (34,644) (3,686)  
Interest payable         (1,225) 42  
Accounts payable and other liabilities         (3,360) (10,216)  
Deferred fees and other         2,382 1,037  
Net cash provided by (used in) operating activities         47,682 (39,435)  
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from public offering of common stock, net of offering costs         84,100 89,155  
Dividends paid         (125,260) (94,071)  
Proceeds from credit facilities         243,000 303,000  
Repayments on credit facilities         (270,000) (243,000)  
Debt issuance costs, net         (1,807) 0  
Purchases of vested stock for employee payroll tax withholding         (5,950) (4,895)  
Net cash provided by (used in) financing activities         (25,917) 50,189  
Net increase in cash and cash equivalents         21,765 10,754  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD   $ 49,121   $ 32,629 49,121 32,629 $ 32,629
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 70,886   $ 43,383   70,886 43,383 $ 49,121
Supplemental cash flow disclosures:              
Interest paid         51,333 32,505  
Taxes paid         5,909 4,920  
Non-cash financing activities:              
Value of shares issued pursuant to the DRIP         14,688 9,813  
December 2025 Notes              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         50,000 0  
SBIC Debentures              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         16,000 0  
Repayments of SBIC debentures         $ (16,000) $ 0