Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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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:      
Interest, fee and dividend income: $ 500,385 $ 376,860 $ 289,047
EXPENSES:      
Interest (102,575) (78,276) (58,836)
Compensation (46,279) (36,543) (34,442)
General and administrative (18,042) (16,050) (12,494)
Share‑based compensation (16,520) (13,629) (10,887)
Expenses allocated to the External Investment Manager 22,050 12,965 10,277
Total expenses (161,366) (131,533) (106,382)
NET INVESTMENT INCOME 339,019 245,327 182,665
NET REALIZED GAIN (LOSS):      
Total net realized gain (loss) (120,507) (5,212) 45,336
NET UNREALIZED APPRECIATION (DEPRECIATION):      
Total net unrealized appreciation 232,577 24,816 135,624
INCOME TAXES:      
Federal and state income, excise and other taxes (6,633) (5,199) (5,732)
Deferred taxes (16,009) (18,126) (27,131)
Total income tax provision (22,642) (23,325) (32,863)
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 428,447 $ 241,606 $ 330,762
NET INVESTMENT INCOME PER SHARE— BASIC (in dollars per share) $ 4.14 $ 3.29 $ 2.65
NET INVESTMENT INCOME PER SHARE— DILUTED (in dollars per share) 4.14 3.29 2.65
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—BASIC (in dollars per share) 5.23 3.24 4.80
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—DILUTED (in dollars per share) $ 5.23 $ 3.24 $ 4.80
WEIGHTED-AVERAGE SHARES OUTSTANDING-BASIC (in shares) 81,916,663 74,482,176 68,960,923
WEIGHTED-AVERAGE SHARES OUTSTANDING-DIILUTED (in shares) 81,916,663 74,482,176 68,960,923
Control investments      
INVESTMENT INCOME:      
Interest, fee and dividend income: $ 197,150 $ 155,967 $ 122,277
NET REALIZED GAIN (LOSS):      
Total net realized gain (loss) (50,532) (5,822) 6,494
NET UNREALIZED APPRECIATION (DEPRECIATION):      
Total net unrealized appreciation 161,793 56,682 99,420
Affiliate investments      
INVESTMENT INCOME:      
Interest, fee and dividend income: 69,829 54,963 51,278
NET REALIZED GAIN (LOSS):      
Total net realized gain (loss) (18,729) (3,319) 17,181
NET UNREALIZED APPRECIATION (DEPRECIATION):      
Total net unrealized appreciation 33,689 10,314 21,989
Non‑Control/Non‑Affiliate investments      
INVESTMENT INCOME:      
Interest, fee and dividend income: 233,406 165,930 115,492
NET REALIZED GAIN (LOSS):      
Total net realized gain (loss) (51,246) 3,929 21,661
NET UNREALIZED APPRECIATION (DEPRECIATION):      
Total net unrealized appreciation $ 37,095 $ (42,180) $ 14,215