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 6 Months Ended 12 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES              
Net increase in net assets resulting from operations $ 102,688 $ 107,147 $ 106,516 $ 79,592 $ 209,835 $ 186,107  
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:              
Investments in portfolio companies         (915,212) (395,305)  
Proceeds from sales and repayments of debt investments in portfolio companies         442,596 291,557  
Proceeds from sales and return of capital of equity investments in portfolio companies         29,724 31,057  
Net unrealized appreciation (23,044)   (104,941)   (63,693) (140,059)  
Net realized loss (3,414)   75,506   8,954 103,886  
Accretion of unearned income         (10,560) (9,900)  
Payment-in-kind interest         (9,116) (5,219)  
Cumulative dividends         (1,026) (717)  
Share-based compensation expense         8,986 8,187  
Amortization of deferred financing costs         2,294 1,582  
Deferred tax provision 9,473   6,976   18,282 13,353  
Changes in other assets and liabilities:              
Interest and dividend receivable and other assets         (27,282) (34,644)  
Interest payable         8,798 (1,225)  
Accounts payable and other liabilities         (10,399) (3,360)  
Deferred fees and other         3,268 2,382  
Net cash provided by (used in) operating activities         (304,551) 47,682  
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from public offering of common stock, net of offering costs         47,913 84,100  
Dividends paid         (157,212) (125,260)  
Proceeds from Credit Facilities         1,395,000 243,000  
Repayments on Credit Facilities         (1,130,000) (270,000)  
Debt issuance costs, net         (9,625) (1,807)  
Purchases of vested stock for employee payroll tax withholding         (7,336) (5,950)  
Net cash provided by (used in) financing activities         274,940 (25,917)  
Net increase (decrease) in cash and cash equivalents         (29,611) 21,765  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD   $ 60,083   $ 49,121 60,083 49,121 $ 49,121
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 30,472   $ 70,886   30,472 70,886 $ 60,083
Supplemental cash flow disclosures:              
Interest paid         44,694 51,333  
Taxes paid         6,425 5,909  
Non-cash financing activities:              
Value of shares issued pursuant to the DRIP         17,229 14,688  
December 2025 Notes              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         0 50,000  
March 2029 Notes              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         350,000 0  
June 2027 Notes              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         300,000 0  
SBIC Debentures              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         0 16,000  
Repayments of SBIC debentures         (63,800) (16,000)  
May 2024 Notes              
CASH FLOWS FROM FINANCING ACTIVITIES              
Redemption of May 2024 Notes         $ (450,000) $ 0