Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net increase in net assets resulting from operations $ 107,147 $ 79,592  
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:      
Investments in portfolio companies (372,576) (109,036)  
Proceeds from sales and repayments of debt investments in portfolio companies 167,270 56,644  
Proceeds from sales and return of capital of equity investments in portfolio companies 7,745 6,817  
Net unrealized appreciation (40,647) (35,118)  
Net realized loss 12,367 28,379  
Accretion of unearned income (4,806) (4,673)  
Payment-in-kind interest (4,177) (2,895)  
Cumulative dividends (426) (417)  
Share-based compensation expense 4,103 4,100  
Amortization of deferred financing costs 1,071 753  
Deferred tax provision 8,809 6,377  
Changes in other assets and liabilities:      
Interest and dividend receivable and other assets 1,447 (1,357)  
Interest payable 7,793 2,091  
Accounts payable and other liabilities (14,672) (12,212)  
Deferred fees and other 1,475 925  
Net cash provided by (used in) operating activities (118,077) 19,970  
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from public offering of common stock, net of offering costs 5,696 40,896  
Dividends paid (78,225) (59,609)  
Proceeds from Credit Facilities 542,000 97,000  
Repayments on Credit Facilities (579,000) (140,000)  
Debt issuance costs, net (3,679) (1,222)  
Purchases of vested stock for employee payroll tax withholding (14) (404)  
Net cash provided by (used in) financing activities 172,978 (29,339)  
Net increase (decrease) in cash and cash equivalents 54,901 (9,369)  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 60,083 49,121 $ 49,121
CASH AND CASH EQUIVALENTS AT END OF PERIOD 114,984 39,752 $ 60,083
Supplemental cash flow disclosures:      
Interest paid 17,837 22,122  
Taxes paid 3,017 2,726  
Non-cash financing activities:      
Value of shares issued pursuant to the DRIP 8,441 7,808  
December 2025 Notes      
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from public offering 0 50,000  
March 2029 Notes      
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from public offering 350,000 0  
SBIC Debentures      
CASH FLOWS FROM FINANCING ACTIVITIES      
Repayments of SBIC debentures $ (63,800) $ (16,000)