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, 2023
Mar. 31, 2022
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net increase in net assets resulting from operations $ 79,592 $ 65,203  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Investments in portfolio companies (109,036) (315,369)  
Proceeds from sales and repayments of debt investments in portfolio companies 56,644 218,781  
Proceeds from sales and return of capital of equity investments in portfolio companies 6,817 19,963  
Net unrealized appreciation (35,118) (14,752)  
Net realized (gain) loss 28,379 (3,336)  
Accretion of unearned income (4,673) (2,834)  
Payment-in-kind interest (2,895) (937)  
Cumulative dividends (417) (887)  
Share-based compensation expense 4,100 2,818  
Amortization of deferred financing costs 753 686  
Deferred tax provision 6,377 3,788  
Changes in other assets and liabilities:      
Interest and dividend receivable and other assets (1,357) (11,731)  
Interest payable 2,091 2,219  
Accounts payable and other liabilities (12,212) (13,667)  
Deferred fees and other 925 378  
Net cash provided by (used in) operating activities 19,970 (49,677)  
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from public offering of common stock, net of offering costs 40,896 63,522  
Proceeds from public offering of December 2025 Notes 50,000 0  
Dividends paid (59,609) (46,522)  
Repayments of SBIC debentures (16,000) 0  
Proceeds from credit facilities 97,000 185,000  
Repayments on credit facilities (140,000) (167,000)  
Debt issuance costs, net (1,222) 0  
Purchases of vested stock for employee payroll tax withholding (404) 0  
Net cash provided by (used in) financing activities (29,339) 35,000  
Net decrease in cash and cash equivalents (9,369) (14,677)  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 49,121 32,629 $ 32,629
CASH AND CASH EQUIVALENTS AT END OF PERIOD 39,752 17,952 $ 49,121
Supplemental cash flow disclosures:      
Interest paid 22,122 13,751  
Taxes paid 2,726 2,874  
Non-cash financing activities:      
Value of shares issued pursuant to the DRIP $ 7,808 $ 4,813