Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES              
Net increase in net assets resulting from operations $ 103,261 $ 79,592 $ 55,338 $ 65,203 $ 289,366 $ 135,287  
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:              
Investments in portfolio companies         (584,729) (911,273)  
Proceeds from sales and repayments of debt investments in portfolio companies         436,615 441,860  
Proceeds from sales and return of capital of equity investments in portfolio companies         37,989 64,161  
Net unrealized (appreciation) depreciation (27,011)   10,081   (167,070) 19,922  
Net realized (gain) loss (664)   (5,031)   103,223 (3,302)  
Accretion of unearned income         (13,075) (9,908)  
Payment-in-kind interest         (7,599) (3,511)  
Cumulative dividends         (1,027) (1,390)  
Share-based compensation expense         12,351 10,031  
Amortization of deferred financing costs         2,423 2,068  
Deferred tax provision 5,337   520   18,690 13,819  
Changes in other assets and liabilities:              
Interest and dividend receivable and other assets         (3,022) (18,984)  
Interest payable         2,153 1,747  
Accounts payable and other liabilities         2,586 199  
Deferred fees and other         2,772 1,946  
Net cash provided by (used in) operating activities         131,646 (257,328)  
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from public offering of common stock, net of offering costs         165,160 194,504  
Dividends paid         (197,053) (143,075)  
Proceeds from credit facilities         320,000 730,000  
Repayments on credit facilities         (434,000) (489,000)  
Debt issuance costs, net         (1,877) (1,629)  
Purchases of vested stock for employee payroll tax withholding         (5,950) (4,943)  
Net cash provided by (used in) financing activities         (103,720) 285,857  
Net increase in cash and cash equivalents         27,926 28,529  
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 $ 77,047   $ 61,158   77,047 61,158 $ 49,121
Supplemental cash flow disclosures:              
Interest paid         73,495 51,306  
Taxes paid         7,218 4,896  
Non-cash financing activities:              
Value of shares issued pursuant to the DRIP         22,791 16,370  
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