Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 31,486 $ 18,038
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by operating activities:    
Investments in portfolio companies (112,086) (120,049)
Proceeds from sales and repayments of debt investments in portfolio companies 95,363 104,933
Proceeds from sales and return of capital of equity investments in portfolio companies 11,451 1,872
Net unrealized (appreciation) depreciation (31,618) 7,017
Net realized (gain) loss on the sale of portfolio investments 25,421 (625)
Amortization of deferred financing costs 757 697
Amortization of deferred offering costs 63 0
Accretion of unearned income (4,521) (2,622)
Payment-in-kind interest (3,073) (1,434)
Cumulative dividends (86) (506)
Deferred tax provision 2,693 178
Changes in other assets and liabilities:    
Interest and dividend receivable 1,474 2,753
Prepaid and other assets (6) 484
Management and incentive fees payable 1,469 (231)
Interest payable 1,180 885
Accounts payable and other liabilities (966) (1,038)
Net cash provided by operating activities 19,001 10,352
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common stock 2,000 750
Redemption of common stock (10,508) (7,942)
Payment of offering costs (63) 0
Dividends paid (17,671) (16,329)
Proceeds from Credit Facilities 74,000 66,000
Repayments on Credit Facilities (58,000) (141,000)
Proceeds from Series A Notes due 2026 0 72,500
Payment of deferred financing costs (10) (149)
Net cash used in financing activities (10,252) (26,170)
Net increase (decrease) in cash and cash equivalents 8,749 (15,818)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 21,312 25,813
CASH AND CASH EQUIVALENTS AT END OF PERIOD 30,061 9,995
Supplemental cash flow disclosures:    
Interest paid 15,261 5,788
Taxes paid 1,716 1,562
Non-cash financing activities:    
Dividends declared and unpaid 14,009 11,974
Value of shares issued pursuant to the DRIP $ 9,174 $ 8,825