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
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 36,089 $ 44,869
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:    
Investments in portfolio companies (253,889) (156,523)
Proceeds from sales and repayments of debt investments in portfolio companies 169,961 119,927
Proceeds from sales and return of capital of equity investments in portfolio companies 39,496 13,280
Net unrealized (appreciation) depreciation 24,656 (30,415)
Net realized (gain) loss on portfolio investments (23,802) 24,986
Amortization of deferred financing costs 2,338 1,273
Amortization of deferred offering costs 0 129
Accretion of unearned income (5,740) (5,772)
Payment-in-kind interest (5,100) (3,805)
Cumulative dividends (101) (129)
Deferred tax provision 3,625 2,235
Changes in other assets and liabilities:    
Interest and dividend receivable (4,650) (2,307)
Prepaid and other assets (714) (1,982)
Management and incentive fees payable (1,271) 524
Interest payable 2,365 3,231
Accounts payable and other liabilities 3,354 (552)
Net cash provided by (used in) operating activities (13,383) 8,969
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common stock 7,000 4,750
Redemption of common stock (16,765) (17,542)
Payment of offering costs 0 (129)
Dividends paid (29,686) (26,990)
Proceeds from Credit Facilities 252,000 107,000
Repayments on Credit Facilities (181,000) (72,000)
Payment of deferred financing costs (26) (2,262)
Net cash provided by (used in) financing activities 31,523 (7,173)
Net increase in cash and cash equivalents 18,140 1,796
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 30,786 21,312
CASH AND CASH EQUIVALENTS AT END OF PERIOD 48,926 23,108
Supplemental cash flow disclosures:    
Interest paid 24,766 22,106
Taxes paid 489 1,960
Non-cash financing activities:    
Dividends declared and unpaid 14,478 14,002
Value of shares issued pursuant to the DRIP $ 13,578 $ 13,864