Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES              
Net increase in net assets resulting from operations $ 124,007 $ 107,147 $ 103,261 $ 79,592 $ 333,847 $ 289,366  
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:              
Investments in portfolio companies         (1,297,019) (584,729)  
Proceeds from sales and repayments of debt investments in portfolio companies         744,075 436,615  
Proceeds from sales and return of capital of equity investments in portfolio companies         64,149 37,989  
Net unrealized appreciation (21,738)   (27,011)   (85,431) (167,070)  
Net realized (gain) loss (26,382)   (664)   (17,429) 103,223  
Accretion of unearned income         (16,215) (13,075)  
Payment-in-kind interest         (15,183) (7,599)  
Cumulative dividends         (1,716) (1,027)  
Share-based compensation expense         13,853 12,351  
Amortization of deferred financing costs         3,690 2,423  
Deferred tax provision 9,252   5,337   27,534 18,690  
Changes in other assets and liabilities:              
Interest and dividend receivable and other assets         (1,897) (3,022)  
Interest payable         1,488 2,153  
Accounts payable and other liabilities         10,119 2,586  
Deferred fees and other         3,971 2,772  
Net cash provided by (used in) operating activities         (232,164) 131,646  
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from public offering of common stock, net of offering costs         113,673 165,160  
Dividends paid         (238,288) (197,053)  
Proceeds from Credit Facilities         1,637,000 320,000  
Repayments on Credit Facilities         (1,537,000) (434,000)  
Debt issuance costs, net         (11,547) (1,877)  
Purchases of vested stock for employee payroll tax withholding         (7,336) (5,950)  
Net cash provided by (used in) financing activities         256,502 (103,720)  
Net increase in cash and cash equivalents         24,338 27,926  
CASH AND CASH EQUIVALENTS AS OF BEGINNING OF PERIOD   $ 60,083   $ 49,121 60,083 49,121 $ 49,121
CASH AND CASH EQUIVALENTS AS OF END OF PERIOD $ 84,421   $ 77,047   84,421 77,047 $ 60,083
Supplemental cash flow disclosures:              
Interest paid         83,994 73,495  
Taxes paid         6,950 7,218  
Non-cash financing activities:              
Value of shares issued pursuant to the DRIP         26,530 22,791  
June 2027 Notes              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         400,000 0  
March 2029 Notes              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         350,000 0  
December 2025 Notes              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         0 50,000  
SBIC Debentures              
CASH FLOWS FROM FINANCING ACTIVITIES              
Proceeds from debt         63,800 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