Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.22.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Investment Income, Net [Abstract]      
Interest, fee and dividend income $ 376,860 $ 289,047 $ 222,614
EXPENSES:      
Interest (78,276) (58,836) (49,587)
Compensation (36,543) (34,442) (18,981)
General and administrative (16,050) (12,494) (12,702)
Share‑based compensation (13,629) (10,887) (10,828)
Expenses allocated to the External Investment Manager 12,965 10,277 7,429
Total expenses (131,533) (106,382) (84,669)
NET INVESTMENT INCOME 245,327 182,665 137,945
NET REALIZED GAIN (LOSS):      
Realized loss on extinguishment of debt 0 0 (534)
Total net realized gain (loss) (5,212) 45,336 (116,481)
NET UNREALIZED APPRECIATION (DEPRECIATION):      
Total net unrealized appreciation (depreciation) 24,816 135,624 (5,622)
INCOME TAXES:      
Federal and state income, excise and other taxes (5,199) (5,732) (590)
Deferred taxes (18,126) (27,131) 14,131
Income tax benefit (provision) (23,325) (32,863) 13,541
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 241,606 $ 330,762 $ 29,383
NET INVESTMENT INCOME PER SHARE— BASIC (in dollars per share) $ 3.29 $ 2.65 $ 2.10
NET INVESTMENT INCOME PER SHARE— DILUTED (in dollars per share) 3.29 2.65 2.10
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—BASIC (in dollars per share) 3.24 4.80 0.45
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—DILUTED (in dollars per share) $ 3.24 $ 4.80 $ 0.45
WEIGHTED AVERAGE SHARES OUTSTANDING-BASIC (in shares) 74,482,176 68,960,923 65,705,963
WEIGHTED AVERAGE SHARES OUTSTANDING-DIILUTED (in shares) 74,482,176 68,960,923 65,705,963
SBIC debentures      
NET UNREALIZED APPRECIATION (DEPRECIATION):      
Total net unrealized appreciation (depreciation) $ 0 $ 0 $ 460
Control investments      
Investment Income, Net [Abstract]      
Interest, fee and dividend income 155,967 122,277 81,155
NET REALIZED GAIN (LOSS):      
Total net realized gain (loss) (5,822) 6,494 (59,594)
NET UNREALIZED APPRECIATION (DEPRECIATION):      
Total net unrealized appreciation (depreciation) 56,682 99,420 37,924
Affiliate investments      
Investment Income, Net [Abstract]      
Interest, fee and dividend income 54,963 51,278 32,435
NET REALIZED GAIN (LOSS):      
Total net realized gain (loss) (3,319) 17,181 2,203
NET UNREALIZED APPRECIATION (DEPRECIATION):      
Total net unrealized appreciation (depreciation) 10,314 21,989 (29,038)
Non‑Control/Non‑Affiliate investments      
Investment Income, Net [Abstract]      
Interest, fee and dividend income 165,930 115,492 109,024
NET REALIZED GAIN (LOSS):      
Total net realized gain (loss) 3,929 21,661 (58,556)
NET UNREALIZED APPRECIATION (DEPRECIATION):      
Total net unrealized appreciation (depreciation) $ (42,180) $ 14,215 $ (14,968)