Hercules Capital, Inc(NYSE:HTGC) 
Hercules Capital, Inc. is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed...
Website: http://www.htgc.com
Founded: 2003
Full Time Employees: 77
Sector: Financial Services
Industry: Mortgage Finance
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At a glance:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-03-31 |
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investment income: | ||||||||||||||||||
interest and dividend income: | ||||||||||||||||||
excluding payment-in-kind (pik) interest income | ||||||||||||||||||
non-control/non-affiliate investments | 120,090,000 | 114,413,000 | 113,854,000 | 113,120,000 | 98,996,000 | 196,344,000 | 80,146,000 | 67,511,000 | 60,090,000 | 62,239,000 | 60,276,000 | 62,982,000 | 64,403,000 | 62,667,000 | 65,338,000 | 64,923,000 | 62,696,000 | 53,941,000 |
control investments | 3,399,000 | 2,834,000 | 2,828,000 | 2,816,000 | 3,103,000 | 8,394,000 | 1,181,000 | 1,144,000 | 1,115,000 | 1,072,000 | 1,029,000 | 799,000 | 740,000 | 731,000 | 646,000 | 895,000 | 1,055,000 | 1,024,000 |
total interest and dividend income, excluding pik interest income | 123,489,000 | 117,247,000 | 116,682,000 | 115,936,000 | 102,099,000 | |||||||||||||
pik interest income | ||||||||||||||||||
total pik interest income | 12,914,000 | 14,340,000 | 14,475,000 | 13,635,000 | 13,473,000 | |||||||||||||
total interest and dividend income | 136,403,000 | 131,587,000 | 131,157,000 | 129,571,000 | 115,572,000 | |||||||||||||
fee income: | ||||||||||||||||||
total fee income | 5,133,000 | 5,843,000 | 6,936,000 | 7,888,000 | 3,939,000 | 17,286,000 | 2,821,000 | 3,384,000 | 2,905,000 | 6,881,000 | 8,253,000 | 4,977,000 | 4,964,000 | 4,413,000 | 7,415,000 | 4,491,000 | 4,994,000 | 3,322,000 |
total investment income | 141,536,000 | 137,430,000 | 138,093,000 | 137,459,000 | 119,511,000 | 272,090,000 | 84,229,000 | 72,115,000 | 65,157,000 | 70,193,000 | 69,559,000 | 68,759,000 | 70,339,000 | 67,968,000 | 73,619,000 | 70,577,000 | 69,238,000 | 58,795,000 |
operating expenses: | ||||||||||||||||||
interest | 28,146,000 | 25,359,000 | 24,189,000 | 22,930,000 | 19,698,000 | 38,307,000 | 14,499,000 | 12,698,000 | 11,647,000 | 13,069,000 | 14,490,000 | 14,750,000 | 14,807,000 | 15,076,000 | 14,532,000 | 14,669,000 | 13,857,000 | 12,555,000 |
loan fees | 2,677,000 | 2,860,000 | 3,004,000 | 2,747,000 | 2,398,000 | 3,290,000 | 2,183,000 | 1,492,000 | 1,842,000 | 1,674,000 | 2,220,000 | 2,800,000 | 1,824,000 | 1,650,000 | 1,794,000 | 1,285,000 | 1,138,000 | 3,009,000 |
general and administrative | 4,802,000 | 4,637,000 | 4,477,000 | 5,103,000 | 4,812,000 | 7,168,000 | 4,364,000 | 4,322,000 | 3,818,000 | 4,153,000 | ||||||||
tax expenses | 990,000 | 2,122,000 | 1,703,000 | 1,068,000 | 912,000 | 1,700,000 | 1,602,000 | 1,821,000 | 712,000 | 2,395,000 | 1,746,000 | 1,438,000 | 994,000 | 899,000 | 1,135,000 | 520,000 | 815,000 | |
employee compensation: | ||||||||||||||||||
compensation and benefits | 17,291,000 | 16,231,000 | 16,540,000 | 16,664,000 | 13,914,000 | 23,876,000 | 10,968,000 | 11,060,000 | 8,329,000 | 8,898,000 | 8,349,000 | 9,804,000 | 7,181,000 | 7,180,000 | 8,214,000 | 7,621,000 | 7,559,000 | 6,623,000 |
stock-based compensation | 4,149,000 | 3,694,000 | 3,691,000 | 3,662,000 | 3,602,000 | 2,282,000 | 2,474,000 | 3,661,000 | 4,424,000 | 3,320,000 | 2,926,000 | 2,744,000 | 2,522,000 | 2,515,000 | 2,440,000 | 1,810,000 | 1,443,000 | 3,422,000 |
total employee compensation | 21,440,000 | 19,925,000 | 20,231,000 | 20,326,000 | 17,516,000 | 26,158,000 | 13,442,000 | 14,721,000 | 12,753,000 | 12,218,000 | 11,275,000 | 12,548,000 | 9,703,000 | 9,695,000 | 10,654,000 | 9,431,000 | 9,002,000 | 10,045,000 |
total gross operating expenses | 58,055,000 | 54,903,000 | 53,604,000 | 52,174,000 | 45,336,000 | 76,623,000 | 36,090,000 | 35,054,000 | 30,772,000 | 33,441,000 | 33,799,000 | 35,132,000 | ||||||
expenses allocated to the adviser subsidiary | -4,629,000 | -4,449,000 | -4,063,000 | -3,449,000 | -3,283,000 | -4,445,000 | -1,863,000 | -3,070,000 | -1,402,000 | -1,337,000 | -1,204,000 | -933,000 | ||||||
total net operating expenses | 53,426,000 | 50,454,000 | 49,541,000 | 48,725,000 | 42,053,000 | 72,178,000 | 34,227,000 | 31,984,000 | 29,370,000 | 32,104,000 | 32,595,000 | 34,199,000 | ||||||
net investment income | 88,110,000 | 86,976,000 | 88,552,000 | 88,734,000 | 77,458,000 | 199,912,000 | 50,002,000 | 40,131,000 | 35,787,000 | 38,089,000 | 36,964,000 | 34,560,000 | 38,714,000 | 35,684,000 | 40,580,000 | 40,099,000 | 38,873,000 | 29,033,000 |
net realized gain and net change in unrealized appreciation | ||||||||||||||||||
net realized gain: | ||||||||||||||||||
loss on extinguishment of debt | -64,000 | -84,000 | -21,000 | -15,000 | ||||||||||||||
total net realized gain | -603,000 | 20,254,000 | -1,856,000 | -57,637,000 | -1,556,000 | -32,432,000 | 5,289,000 | -2,133,000 | -2,381,000 | 21,111,000 | ||||||||
net change in unrealized appreciation | ||||||||||||||||||
total net change in unrealized appreciation | -45,005,000 | -16,402,000 | 32,989,000 | 47,790,000 | -25,565,000 | 55,938,000 | -2,089,000 | -48,316,000 | -36,742,000 | -35,651,000 | ||||||||
total net realized gain and net change in unrealized appreciation | -45,608,000 | 3,852,000 | 31,133,000 | -9,847,000 | -27,121,000 | 23,506,000 | 3,200,000 | -50,449,000 | -39,123,000 | |||||||||
net increase in net assets resulting from operations | 42,502,000 | 90,828,000 | 119,685,000 | 78,887,000 | 50,337,000 | 223,418,000 | 53,202,000 | -10,318,000 | -3,336,000 | 23,549,000 | 82,731,000 | 64,163,000 | 43,047,000 | 61,765,000 | -28,723,000 | 44,611,000 | 19,271,000 | 61,585,000 |
net investment income before gains and losses per common share: | ||||||||||||||||||
basic | 480 | 470 | 490 | 500 | 450 | 990 | 390 | 320 | 300 | 330 | 320 | 300 | 340 | 320 | 370 | 380 | 370 | 300 |
change in net assets resulting from operations per common share: | ||||||||||||||||||
basic | 230 | 490 | 660 | 440 | 290 | 1,300 | 410 | -90 | -30 | 200 | 710 | 560 | 380 | 550 | -270 | 420 | 180 | 640 |
diluted | 230 | 480 | 630 | 430 | 290 | 1,310 | 410 | -90 | -30 | 200 | 650 | 550 | 380 | 550 | -270 | 420 | 180 | 640 |
weighted-average shares outstanding: | ||||||||||||||||||
basic | 182,760,000 | 177,392,000 | 180,360,000 | 176,809,000 | 171,494,000 | 161,082,000 | 127,484,000 | 124,255,000 | 118,296,000 | 114,805,000 | 114,654,000 | 114,304,000 | 113,489,000 | 111,558,000 | 108,955,000 | 101,132,000 | 104,314,000 | 96,218,000 |
diluted | 196,821,000 | 188,861,000 | 194,358,000 | 190,777,000 | 175,383,000 | 161,599,000 | 129,334,000 | 124,255,000 | 118,296,000 | 116,239,000 | 129,572,000 | 114,803,000 | 113,744,000 | 111,729,000 | 108,955,000 | 101,569,000 | 104,655,000 | 96,508,000 |
distributions paid per common share: | ||||||||||||||||||
basic | 470 | 470 | 470 | 470 | 470 | 460 | 500 | 480 | 480 | 390 | 390 | 370 | 320 | 320 | 400 | 350 | 340 | 310 |
interest income: | ||||||||||||||||||
affiliate investments | 301,000 | 81,000 | 76,000 | 1,047,000 | 1,000 | 1,000 | 1,000 | 232,000 | 157,000 | 220,000 | 268,000 | 493,000 | 508,000 | |||||
total interest income | 53,097,750 | 81,408,000 | 68,731,000 | 62,252,000 | 63,312,000 | 61,306,000 | 63,782,000 | 65,375,000 | 63,555,000 | 66,204,000 | 66,086,000 | 64,244,000 | 55,473,000 | |||||
loss on debt extinguishment | -921,500 | -3,686,000 | -1,702,000 | |||||||||||||||
net investment income before investment gains and losses per common share: | ||||||||||||||||||
basic | 480 | 470 | 490 | 500 | 450 | 990 | 390 | 320 | 300 | 330 | 320 | 300 | 340 | 320 | 370 | 380 | 370 | 300 |
weighted-average shares outstanding | ||||||||||||||||||
basic | 182,760,000 | 177,392,000 | 180,360,000 | 176,809,000 | 171,494,000 | 161,082,000 | 127,484,000 | 124,255,000 | 118,296,000 | 114,805,000 | 114,654,000 | 114,304,000 | 113,489,000 | 111,558,000 | 108,955,000 | 101,132,000 | 104,314,000 | 96,218,000 |
diluted | 196,821,000 | 188,861,000 | 194,358,000 | 190,777,000 | 175,383,000 | 161,599,000 | 129,334,000 | 124,255,000 | 118,296,000 | 116,239,000 | 129,572,000 | 114,803,000 | 113,744,000 | 111,729,000 | 108,955,000 | 101,569,000 | 104,655,000 | 96,508,000 |
interest income | ||||||||||||||||||
fee income | ||||||||||||||||||
employee compensation | ||||||||||||||||||
net realized gain | ||||||||||||||||||
commitment, facility and loan fee income | ||||||||||||||||||
total commitment, facility and loan fee income | 5,199,000 | 5,278,000 | 3,411,000 | 2,990,000 | 3,516,000 | 4,201,000 | 2,817,000 | 3,622,000 | 2,542,000 | |||||||||
one-time fee income | ||||||||||||||||||
total one-time fee income | 1,682,000 | 2,975,000 | 1,566,000 | 1,974,000 | 897,000 | 3,214,000 | 1,150,500 | 1,372,000 | 780,000 | |||||||||
legal expenses | 314,000 | 526,000 | 428,000 | 673,000 | 991,000 | 899,000 | 1,053,000 | 1,586,000 | ||||||||||
other expenses | 3,771,000 | 3,542,000 | 3,168,000 | 3,624,000 | 3,973,000 | 4,025,000 | 2,599,500 | 3,967,000 | ||||||||||
total general and administrative | 6,480,000 | 5,814,000 | 5,034,000 | 5,291,000 | 5,863,000 | 6,059,000 | 4,079,000 | 6,368,000 | ||||||||||
net realized gain and change in unrealized appreciation | ||||||||||||||||||
total net realized gain and change in unrealized appreciation | -14,540,000 | |||||||||||||||||
net realized gain and change in unrealized appreciation (depreciation) on investments: | ||||||||||||||||||
net realized gain on investments | ||||||||||||||||||
total net realized gain on investments | -14,282,000 | 7,770,000 | -48,501,000 | 141,000 | 6,967,000 | 2,890,000 | 4,807,000 | 4,555,000 | ||||||||||
net change in unrealized appreciation (depreciation) on investments | ||||||||||||||||||
total net change in unrealized appreciation (depreciation) on investments | 60,049,000 | 21,833,000 | ||||||||||||||||
total net realized gain and change in unrealized appreciation (depreciation) on investments: | 45,767,000 | |||||||||||||||||
net realized and change in unrealized appreciation (depreciation) on investments: | ||||||||||||||||||
total net realized and change in unrealized appreciation (depreciation) on investments: | 29,603,000 | |||||||||||||||||
total operating expenses | 31,625,000 | 32,284,000 | 33,039,000 | 30,478,000 | 30,365,000 | 29,762,000 | ||||||||||||
total net unrealized appreciation (depreciation) on investments | 52,834,000 | 25,940,000 | -76,270,000 | 1,622,000 | -24,409,000 | 27,997,000 | ||||||||||||
total net realized and unrealized gain | 4,333,000 | 26,081,000 | -69,303,000 | 4,512,000 | -19,602,000 | 32,552,000 | ||||||||||||
commitment, facility and loan fee income: | ||||||||||||||||||
one-time fee income: |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-03-31 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2014-06-30 | 2011-03-31 | 2010-06-30 | 2010-03-31 | 2009-09-30 | 2009-06-30 |
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assets | ||||||||||||||||||||||||||||||||||||||||
investments, at fair value: | ||||||||||||||||||||||||||||||||||||||||
non-control/non-affiliate investments | 3,546,799,000 | 3,546,799,000 | 3,457,280,000 | 3,546,799,000 | 3,133,042,000 | 3,133,042,000 | 3,044,852,000 | 2,385,998,000 | 2,288,338 | 2,355,935,000 | 2,297,180,000 | 2,238,479,000 | 2,167,682,000 | 2,174,691,000 | 2,003,062,000 | 1,801,258,000 | 1,670,034,000 | 1,616,515,000 | 1,398,640,000 | 1,491,458 | 1,360,146,000 | 1,357,914,000 | 1,376,181,000 | 1,414,210 | 1,309,696,000 | 1,292,934,000 | 1,142,544,000 | 1,228,202,000 | 1,150,639,000 | 1,012,738 | 990,068,000 | 983,952,000 | 443,022,000 | 390,399,000 | 332,728,000 | |||||
control investments | 113,179,000 | 113,179,000 | 111,259,000 | 113,179,000 | 115,004,000 | 115,004,000 | 85,326,000 | 68,693,000 | 57,400 | 55,092,000 | 54,431,000 | 51,775,000 | 58,560,000 | 55,894,000 | 54,913,000 | 57,619,000 | 62,387,000 | 56,716,000 | 54,413,000 | 19,461 | 23,382,000 | 31,564,000 | 24,775,000 | 4,700 | 4,991,000 | 4,000,000 | 37,904,000 | 45,023,000 | ||||||||||||
total investments, at fair value | 3,659,978,000 | 3,659,978,000 | 3,568,539,000 | 3,659,978,000 | 3,248,046,000 | 3,248,046,000 | 3,130,178,000 | 2,464,355,000 | 2,354,078 | |||||||||||||||||||||||||||||||
cash and cash equivalents | 42,679,000 | 42,679,000 | 27,676,000 | 42,679,000 | 98,899,000 | 98,899,000 | 71,129,000 | 74,987,000 | 198,282 | 27,554,000 | 35,884,000 | 34,282,000 | 64,393,000 | 21,045,000 | 13,261,000 | 16,465,000 | 34,212,000 | 43,212,000 | 59,461,000 | 118,228,000 | 91,309 | 140,568,000 | 160,412,000 | 148,140,000 | 13,044 | 69,012,000 | 59,715,000 | 13,478,000 | 95,196 | 147,304,000 | 115,987,000 | 171,756,000 | 227,116 | 158,627,000 | 116,008,000 | 114,435,000 | 52,751,000 | 106,138,000 | 77,247,000 | 37,367,000 |
foreign cash | 70,445,000 | 70,445,000 | 70,445,000 | |||||||||||||||||||||||||||||||||||||
restricted cash | 3,297,000 | 3,297,000 | 11,242,000 | 3,297,000 | 17,114,000 | 17,114,000 | 7,819,000 | 11,829,000 | 39,340 | 20,507,000 | 33,599,000 | 22,060,000 | 14,886,000 | 15,339,000 | 10,149,000 | 11,645,000 | 2,429,000 | 15,886,000 | 3,632,000 | 3,686 | 7,813,000 | 17,226,000 | 12,924,000 | 8,322 | 8,980,000 | 3,605,000 | 3,646,000 | 9,191 | 5,358,000 | 11,810,000 | 21,949,000 | 12,660 | 2,096,000 | 3,491,000 | ||||||
interest receivable | 32,578,000 | 32,578,000 | 31,533,000 | 32,578,000 | 32,741,000 | 32,741,000 | 31,485,000 | 20,597,000 | 19,077 | 19,506,000 | 19,458,000 | 19,137,000 | 19,847,000 | 18,206,000 | 18,366,000 | 16,959,000 | 15,722,000 | 14,408,000 | 11,087,000 | 12,262 | 10,507,000 | 10,204,000 | 11,484,000 | 11,614 | 10,861,000 | 9,453,000 | 10,993,000 | 9,239 | 8,528,000 | 9,226,000 | 9,102,000 | 9,453 | 9,146,000 | 8,700,000 | 4,306,000 | 11,114,000 | 11,369,000 | 10,382,000 | 9,327,000 | |
right of use asset | 16,778,000 | 16,778,000 | 18,104,000 | 16,778,000 | 4,787,000 | 4,787,000 | 4,350,000 | 8,666,000 | 9,278 | 9,884,000 | 10,492,000 | 11,078,000 | 12,218,000 | 8,493,000 | 8,856,000 | |||||||||||||||||||||||||
other assets | 5,836,000 | 5,836,000 | 15,042,000 | 5,836,000 | 15,339,000 | 15,339,000 | 6,858,000 | 3,417,000 | 3,942 | 5,723,000 | 5,547,000 | 7,714,000 | 1,727,000 | 4,269,000 | 3,753,000 | 2,002,000 | 1,175,000 | 906,000 | 3,187,000 | 5,244 | 6,995,000 | 5,398,000 | 7,433,000 | 7,282 | 9,961,000 | 19,620,000 | 12,388,000 | 20,497 | 19,813,000 | 20,875,000 | 22,860,000 | 29,257 | 30,556,000 | 29,929,000 | 10,611,000 | 6,948,000 | 6,687,000 | 5,851,000 | 7,085,000 | |
total assets | 3,831,591,000 | 3,831,591,000 | 3,672,136,000 | 3,831,591,000 | 3,416,926,000 | 3,416,926,000 | 3,251,819,000 | 2,583,851,000 | 2,623,997 | 2,504,001,000 | 2,468,501,000 | 2,396,751,000 | 2,461,968,000 | 2,316,929,000 | 2,311,567,000 | 2,138,631,000 | 1,945,191,000 | 1,823,054,000 | 1,792,597,000 | 1,619,712,000 | 1,654,715 | 1,582,997,000 | 1,588,709,000 | 1,586,248,000 | 1,464,204 | 1,419,424,000 | 1,395,171,000 | 1,331,815,000 | 1,334,761 | 1,332,731,000 | 1,396,553,000 | 1,387,088,000 | 1,299,223 | 1,199,338,000 | 1,149,473,000 | 574,406,000 | 497,441,000 | 500,957,000 | 505,120,000 | 501,895,000 |
liabilities | ||||||||||||||||||||||||||||||||||||||||
debt | 1,768,955,000 | 1,768,955,000 | 1,747,127,000 | 1,768,955,000 | 1,554,869,000 | 1,554,869,000 | 1,714,479,000 | 1,231,298,000 | ||||||||||||||||||||||||||||||||
accounts payable and accrued liabilities | 54,861,000 | 54,861,000 | 49,519,000 | 54,861,000 | 54,156,000 | 54,156,000 | 33,368,000 | 28,300,000 | 36,343 | 28,782,000 | 29,162,000 | 22,450,000 | 25,451,000 | 27,274,000 | 18,256,000 | 25,961,000 | 21,473,000 | 25,115,000 | 18,789,000 | 26,896 | 19,057,000 | 22,193,000 | 16,513,000 | 21,463 | 16,649,000 | 16,681,000 | 12,086,000 | 17,241 | 19,613,000 | 12,977,000 | 9,320,000 | 14,101 | 11,613,000 | 10,393,000 | 7,449,000 | 7,658,000 | 3,945,000 | 5,798,000 | 6,645,000 | |
operating lease liability | 18,194,000 | 18,194,000 | 18,945,000 | 18,194,000 | 5,195,000 | 5,195,000 | 4,966,000 | 8,859,000 | 9,312 | 9,753,000 | 10,178,000 | 11,144,000 | 11,922,000 | 8,530,000 | 8,856,000 | |||||||||||||||||||||||||
total liabilities | 1,842,010,000 | 1,842,010,000 | 1,815,591,000 | 1,842,010,000 | 1,614,220,000 | 1,614,220,000 | 1,752,813,000 | 1,268,457,000 | 1,332,293 | 1,330,921,000 | 1,304,471,000 | 1,299,671,000 | 1,328,919,000 | 1,231,248,000 | 1,206,883,000 | 1,148,282,000 | 989,747,000 | 818,874,000 | 828,900,000 | 790,981,000 | 813,748 | 746,713,000 | 771,258,000 | 778,352,000 | 676,260 | 665,835,000 | 677,376,000 | 613,435,000 | 617,627 | 609,938,000 | 652,862,000 | 623,762,000 | 640,359 | 543,140,000 | 490,564,000 | 171,199,000 | 144,758,000 | 134,545,000 | 136,398,000 | 137,662,000 |
commitments and contingencies | ||||||||||||||||||||||||||||||||||||||||
net assets consist of: | ||||||||||||||||||||||||||||||||||||||||
common stock | 171,000 | 171,000 | 163,000 | 171,000 | 158,000 | 158,000 | 139,000 | 116,000 | 115 | 115,000 | 115,000 | 111,000 | 105,000 | 104,000 | 96,000 | 96,000 | 96,000 | 94,000 | 85,000 | 85 | 84,000 | 83,000 | 83,000 | 80 | 77,000 | 75,000 | 74,000 | 73 | 73,000 | 73,000 | 73,000 | 65 | 65,000 | 64,000 | 43,000 | 36,000 | 35,000 | 35,000 | 35,000 | |
capital in excess of par value | 1,900,490,000 | 1,900,490,000 | 1,737,478,000 | 1,900,490,000 | 1,662,535,000 | 1,662,535,000 | 1,409,168,000 | 1,160,519,000 | 1,158,198 | 1,225,823,000 | 1,223,263,000 | 1,182,080,000 | 1,147,054,000 | 1,149,774,000 | 1,051,427,000 | 1,052,269,000 | 1,060,875,000 | 1,026,313,000 | 916,738,000 | 908,501 | 904,357,000 | 892,930,000 | 890,861,000 | 839,657 | 802,521,000 | 774,339,000 | 761,565,000 | 752,244 | 757,646,000 | 760,148,000 | 760,034,000 | 657,233 | 670,711,000 | 668,673,000 | 478,959,000 | 408,502,000 | 410,349,000 | 408,733,000 | 407,300,000 | |
total distributable earnings | 88,920,000 | 88,920,000 | 118,904,000 | 88,920,000 | 140,013,000 | 140,013,000 | 89,699,000 | 154,759,000 | 133,391 | -52,858,000 | -59,348,000 | -85,111,000 | -61,478,000 | -45,194,000 | -61,174,000 | -92,859,000 | ||||||||||||||||||||||||
total net assets | 1,989,581,000 | 1,989,581,000 | 1,856,545,000 | 1,989,581,000 | 1,802,706,000 | 1,802,706,000 | 1,499,006,000 | 1,315,394,000 | 1,291,704 | 1,173,080,000 | 1,164,030,000 | 1,097,080,000 | 1,133,049,000 | 1,085,681,000 | 1,104,684,000 | 990,349,000 | 955,444,000 | 1,004,180,000 | 963,697,000 | 828,731,000 | 840,967 | 836,284,000 | 817,451,000 | 807,896,000 | 787,944 | 753,589,000 | 717,795,000 | 718,380,000 | 717,134 | 722,793,000 | 743,691,000 | 763,326,000 | 658,864 | 656,198,000 | 658,909,000 | 403,207,000 | 352,683,000 | 366,412,000 | 368,722,000 | 364,233,000 |
total liabilities and net assets | 3,831,591,000 | 3,831,591,000 | 3,672,136,000 | 3,831,591,000 | 3,416,926,000 | 3,416,926,000 | 3,251,819,000 | 2,583,851,000 | 2,623,997 | 2,504,001,000 | 2,468,501,000 | 2,396,751,000 | 2,316,929,000 | 2,311,567,000 | 2,138,631,000 | 1,945,191,000 | 1,823,054,000 | 1,792,597,000 | 1,619,712,000 | 1,654,715 | 1,582,997,000 | 1,588,709,000 | 1,586,248,000 | 1,464,204 | 1,419,424,000 | 1,395,171,000 | 1,331,815,000 | 1,334,761 | 1,332,731,000 | 1,396,553,000 | 1,387,088,000 | 1,299,223 | 1,199,338,000 | 1,149,473,000 | 574,406,000 | |||||
shares of common stock outstanding | 170,575,000 | 170,575,000 | 162,428,000 | 170,575,000 | 157,758,000 | 157,758,000 | 138,596,000 | 115,768,000 | 114,726 | 114,317,000 | 114,230,000 | 110,601,000 | 104,636,000 | 104,282,000 | 96,543,000 | 96,501,000 | 96,751,000 | 94,260,000 | 85,239,000 | 84,424 | 83,615,000 | 82,819,000 | 82,801,000 | 79,555 | 76,400,000 | 74,320,000 | 73,230,000 | 72,118 | 72,109,000 | 72,493,000 | 72,891,000 | 64,715 | 64,182,000 | 63,251,000 | 43,804,000 | 35,972,000 | 36,248,000 | 35,546,000 | 35,452,000 | |
net asset value per share | 11,660 | 11,660 | 11,430 | 11,660 | 11,430 | 11,430 | 10,820 | 11,360 | 11.26 | 10,260 | 10,190 | 9,920 | 10,550 | 10,380 | 10,590 | 10,260 | 9,900 | 10,380 | 10,220 | 9,720 | 9.96 | 10,000 | 9,870 | 9,760 | 9.9 | 9,860 | 9,660 | 9,810 | 9.94 | 10,020 | 10,260 | 10,470 | 10.18 | 10,220 | 10,420 | 9,200 | 9,800 | 10,110 | 10,370 | 10,270 |
investment income: | ||||||||||||||||||||||||||||||||||||||||
interest and dividend income: | ||||||||||||||||||||||||||||||||||||||||
total interest and dividend income | 117,529,000 | 115,779,000 | 110,339,000 | 99,897,000 | ||||||||||||||||||||||||||||||||||||
fee income: | ||||||||||||||||||||||||||||||||||||||||
total fee income | 7,477,000 | 5,774,000 | 6,405,000 | 5,193,000 | ||||||||||||||||||||||||||||||||||||
total investment income | 125,006,000 | 121,553,000 | 116,744,000 | 105,090,000 | ||||||||||||||||||||||||||||||||||||
operating expenses: | ||||||||||||||||||||||||||||||||||||||||
interest | 19,162,000 | 17,624,000 | 16,428,000 | 16,625,000 | ||||||||||||||||||||||||||||||||||||
loan fees | 2,346,000 | 2,397,000 | 2,524,000 | 2,329,000 | ||||||||||||||||||||||||||||||||||||
general and administrative | 4,481,000 | 5,058,000 | 4,591,000 | 4,126,000 | ||||||||||||||||||||||||||||||||||||
tax expenses | 1,754,000 | 711,000 | 1,882,000 | 1,387,000 | ||||||||||||||||||||||||||||||||||||
employee compensation: | ||||||||||||||||||||||||||||||||||||||||
compensation and benefits | 14,414,000 | 16,344,000 | 13,604,000 | 14,617,000 | ||||||||||||||||||||||||||||||||||||
stock-based compensation | 3,343,000 | 3,134,000 | 3,337,000 | 3,186,000 | ||||||||||||||||||||||||||||||||||||
total employee compensation | 17,757,000 | 19,478,000 | 16,941,000 | 17,803,000 | ||||||||||||||||||||||||||||||||||||
total gross operating expenses | 45,500,000 | 45,268,000 | 42,366,000 | 42,270,000 | ||||||||||||||||||||||||||||||||||||
expenses allocated to the adviser subsidiary | -2,852,000 | -2,877,000 | -2,416,000 | -2,679,000 | ||||||||||||||||||||||||||||||||||||
total net operating expenses | 42,648,000 | 42,391,000 | 39,950,000 | 39,591,000 | ||||||||||||||||||||||||||||||||||||
net investment income | 82,358,000 | 79,162,000 | 76,794,000 | 65,499,000 | ||||||||||||||||||||||||||||||||||||
net realized gain and net change in unrealized appreciation | ||||||||||||||||||||||||||||||||||||||||
net realized gain: | ||||||||||||||||||||||||||||||||||||||||
total net realized gain | -5,784,000 | 8,168,000 | -2,587,000 | 7,960,000 | ||||||||||||||||||||||||||||||||||||
net change in unrealized appreciation | ||||||||||||||||||||||||||||||||||||||||
total net change in unrealized appreciation | -34,722,000 | 3,634,000 | -46,240,000 | 21,105,000 | ||||||||||||||||||||||||||||||||||||
total net realized gain and net change in unrealized appreciation | -40,506,000 | 11,802,000 | -48,827,000 | 29,065,000 | ||||||||||||||||||||||||||||||||||||
net increase in net assets resulting from operations | 41,852,000 | 90,964,000 | 27,967,000 | 94,564,000 | ||||||||||||||||||||||||||||||||||||
net investment income before gains and losses per common share: | ||||||||||||||||||||||||||||||||||||||||
basic | 510 | 500 | 520 | 480 | ||||||||||||||||||||||||||||||||||||
change in net assets resulting from operations per common share: | ||||||||||||||||||||||||||||||||||||||||
diluted | 250 | 570 | 190 | 680 | ||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding: | ||||||||||||||||||||||||||||||||||||||||
distributions paid per common share: | ||||||||||||||||||||||||||||||||||||||||
excluding payment-in-kind (pik) interest income | ||||||||||||||||||||||||||||||||||||||||
total interest and dividend income, excluding pik interest income | 105,882,000 | |||||||||||||||||||||||||||||||||||||||
pik interest income | ||||||||||||||||||||||||||||||||||||||||
total pik interest income | 9,897,000 | |||||||||||||||||||||||||||||||||||||||
loss on extinguishment of debt | ||||||||||||||||||||||||||||||||||||||||
affiliate investments | 9,664,000 | 8,340 | 9,800,000 | 11,910,000 | 12,226,000 | 20,964,000 | 21,414,000 | 23,067,000 | 21,496,000 | 28,095,000 | 28,705,000 | 30,525,000 | 31,295 | 33,586,000 | 5,991,000 | 5,311,000 | 5,032 | 5,923,000 | 5,844,000 | 9,184,000 | 10,453,000 | 10,782,000 | 7,999 | 8,845,000 | 7,393,000 | 2,032,000 | 3,218,000 | 2,222,000 | 4,280,000 | 1,133,000 | ||||||||||
2027 asset-backed notes, investments in securities, at value | 235,476,000 | |||||||||||||||||||||||||||||||||||||||
2028 asset-backed notes, investments in securities, at value | 340,620,000 | |||||||||||||||||||||||||||||||||||||||
2027 asset-backed notes | 130,016,000 | 178,812 | 197,521,000 | 197,448,000 | 197,377,000 | 197,241,000 | 197,171,000 | 197,102,000 | 197,265,000 | |||||||||||||||||||||||||||||||
2028 asset-backed notes | 219,413,000 | 247,647 | 247,579,000 | 247,511,000 | 247,444,000 | 247,333,000 | 247,266,000 | 247,352,000 | ||||||||||||||||||||||||||||||||
sba debentures | 98,716 | 98,668,000 | 109,808,000 | 109,725,000 | 148,038,000 | 147,910,000 | 147,783,000 | 147,655,000 | 147,527,000 | 188,457,000 | 188,299,000 | 188,141 | 187,983,000 | 187,824,000 | 187,669,000 | |||||||||||||||||||||||||
2022 notes | 149,039 | 148,907,000 | 148,776,000 | 148,645,000 | 148,383,000 | 148,252,000 | 148,121,000 | 147,990,000 | 147,859,000 | 147,728,000 | 147,698,000 | 147,572 | ||||||||||||||||||||||||||||
july 2024 notes | 103,942 | 103,869,000 | 103,795,000 | 103,721,000 | 103,723,000 | |||||||||||||||||||||||||||||||||||
february 2025 notes | 49,522 | 49,493,000 | 49,465,000 | 49,442,000 | ||||||||||||||||||||||||||||||||||||
april 2025 notes | 73,351 | |||||||||||||||||||||||||||||||||||||||
june 2025 notes | 69,272 | 69,233,000 | 69,217,000 | |||||||||||||||||||||||||||||||||||||
march 2026 a notes | 49,550 | |||||||||||||||||||||||||||||||||||||||
2033 notes | 38,610 | 38,582,000 | 38,555,000 | 38,528,000 | 38,474,000 | 38,447,000 | 38,420,000 | 38,427,000 | 38,752,000 | |||||||||||||||||||||||||||||||
2022 convertible notes | 228,177 | 227,786,000 | 227,395,000 | 227,004,000 | 226,223,000 | 225,832,000 | 225,441,000 | 225,051,000 | 224,660,000 | 224,269,000 | 223,878,000 | |||||||||||||||||||||||||||||
credit facilities | 37,492,000 | 71,125,000 | 11,585,000 | 93,421,000 | 44,266,000 | 52,956,000 | 80,894,000 | 58,323,000 | 5,016 | |||||||||||||||||||||||||||||||
investments: | ||||||||||||||||||||||||||||||||||||||||
total investments in securities, at value | 2,420,827,000 | 2,363,521,000 | 2,302,480,000 | 2,247,206,000 | 2,251,999,000 | 2,081,042,000 | 1,880,373,000 | 1,760,516,000 | 1,701,936,000 | 1,483,578,000 | 1,542,214 | 1,417,114,000 | ||||||||||||||||||||||||||||
2025 notes | 73,256,000 | 73,161,000 | 73,066,000 | 72,875,000 | 72,780,000 | 72,685,000 | 72,590,000 | 72,495,000 | 72,616,000 | |||||||||||||||||||||||||||||||
balance sheet data: | ||||||||||||||||||||||||||||||||||||||||
investments, at value | 2,314,526,000 | |||||||||||||||||||||||||||||||||||||||
other data: | ||||||||||||||||||||||||||||||||||||||||
total return | 39,360 | |||||||||||||||||||||||||||||||||||||||
total debt investments, at value | 2,148,592,000 | |||||||||||||||||||||||||||||||||||||||
total warrant investments, at value | 20,881,000 | |||||||||||||||||||||||||||||||||||||||
total equity investments, at value | 145,053,000 | |||||||||||||||||||||||||||||||||||||||
unfunded commitments | 133,671,000 | |||||||||||||||||||||||||||||||||||||||
2024 notes | 81,852,000 | 81,791,000 | 81,694,000 | 179,161,000 | 179,001 | 251,716,000 | 251,478,000 | 251,240,000 | 245,490 | 237,663,000 | 237,570,000 | 100,211,000 | 103,000 | 103,000,000 | 103,000,000 | 103,000,000 | 103,000 | 103,000,000 | ||||||||||||||||||||||
treasury stock | -4,062,000 | |||||||||||||||||||||||||||||||||||||||
2021 asset-backed notes | 3,423,000 | 30,698,000 | 33,156,000 | 48,650 | 64,860,000 | 86,865,000 | 100,388,000 | 107,972 | 115,531,000 | 127,461,000 | 127,227,000 | 129,300 | 129,300,000 | 129,300,000 | 129,300,000 | 129,300 | ||||||||||||||||||||||||
unrealized appreciation (depreciation) on investments | -53,784,000 | -56,760,000 | -17,076 | -14,706,000 | -5,224,000 | -25,141,000 | -10,288,000 | -37,922,000 | ||||||||||||||||||||||||||||||||
accumulated undistributed realized gains on investments | -30,855,000 | -34,205,000 | -25,294,000 | -20,374 | 10,674,000 | 35,128,000 | 40,840,000 | 37,603 | ||||||||||||||||||||||||||||||||
undistributed net investment income | 27,848,000 | 28,255,000 | 32,159,000 | 32,515 | -12,642,000 | -10,368 | -7,311,000 | -8,429,000 | -2,710,000 | 4,563 | 2,361,000 | 3,293,000 | ||||||||||||||||||||||||||||
unrealized depreciation on investments | -94,957,000 | -79,760 | -73,388,000 | -106,941,000 | -120,528,000 | -89,025 | -68,880,000 | -68,046,000 | -54,142,000 | -52,808 | -50,118,000 | -24,238,000 | -11,462,000 | -23,390,000 | -20,405,000 | |||||||||||||||||||||||||
convertible notes | 223,488 | 223,097,000 | 222,898,000 | 222,542,000 | ||||||||||||||||||||||||||||||||||||
2019 notes | 108,818 | 108,659,000 | 108,499,000 | 108,339,000 | 110,364 | 150,364,000 | 150,364,000 | 170,364,000 | 170,364 | 170,364,000 | 170,364,000 | |||||||||||||||||||||||||||||
distributions in excess of net investment income | -5,443,000 | -3,749,000 | -3,360,000 | -371 | -11,549,000 | -12,123,000 | ||||||||||||||||||||||||||||||||||
total investments, at value | 1,395,469,000 | 1,406,267,000 | 1,423,942 | 1,320,610,000 | 1,302,778,000 | 1,291,310,000 | 1,200,638 | 1,151,728,000 | 1,238,655,000 | 1,161,421,000 | 1,020,737 | 998,913,000 | 991,345,000 | 445,054,000 | 431,521,000 | 379,973,000 | 414,847,000 | 452,390,000 | ||||||||||||||||||||||
long-term sba debentures | 187,501 | 187,333,000 | 187,165,000 | 186,997,000 | 190,200 | 190,200,000 | 190,200,000 | 190,200,000 | 190,200 | 190,200,000 | 190,200,000 | 163,750,000 | 137,100,000 | 130,600,000 | 130,600,000 | 130,600,000 | ||||||||||||||||||||||||
long-term liabilities | 17,572,000 | 17,522 | 17,461,000 | 17,399,000 | 17,375,000 | 17,345 | 40,012,000 | 73,060,000 | ||||||||||||||||||||||||||||||||
wells facility | 61,003,000 | 50,000 | 49,622,000 | |||||||||||||||||||||||||||||||||||||
accumulated realized gains on investments | 31,420,000 | 23,550,000 | 23,525,000 | 27,993 | 22,503,000 | 16,137,000 | 17,391,000 | 14,079 | -24,408,000 | -27,767,000 | -1,426,000 | |||||||||||||||||||||||||||||
non-control/non-affiliate investments: | ||||||||||||||||||||||||||||||||||||||||
debt investments | 1,204,136,000 | 1,109,196 | ||||||||||||||||||||||||||||||||||||||
equity investments | 55,837,000 | 60,781 | ||||||||||||||||||||||||||||||||||||||
warrant investments | 23,240,000 | 22,675 | ||||||||||||||||||||||||||||||||||||||
total non-control/non-affiliate investments | 1,283,213,000 | 1,192,652 | ||||||||||||||||||||||||||||||||||||||
affiliate investments: | ||||||||||||||||||||||||||||||||||||||||
total affiliate investments | 8,097,000 | 7,986 | ||||||||||||||||||||||||||||||||||||||
non-control/non affiliate investments: | ||||||||||||||||||||||||||||||||||||||||
2017 asset-backed notes | 4,203,000 | 16,049 | ||||||||||||||||||||||||||||||||||||||
amounts includes 1.9 million in net unrealized depreciation on investments, other assets, and accrued liabilities including escrow receivables, estimated taxes payable, and citigroup warrant participation agreement liabilities. | ||||||||||||||||||||||||||||||||||||||||
asset-backed notes | 133,503,000 | 27,951,000 | 46,547,000 | |||||||||||||||||||||||||||||||||||||
accumulated realized losses on investments | -2,233,000 | -7,897,000 | -46,663,000 | |||||||||||||||||||||||||||||||||||||
net assets: | ||||||||||||||||||||||||||||||||||||||||
distributions in excess of investment income | -5,742,000 | -6,306,000 | -5,917,000 | -4,041,000 | -3,754,000 | |||||||||||||||||||||||||||||||||||
portfolio company | ||||||||||||||||||||||||||||||||||||||||
acceleron pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
total acceleron pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
anthera pharmaceuticals inc. | ||||||||||||||||||||||||||||||||||||||||
total anthera pharmaceuticals inc. | ||||||||||||||||||||||||||||||||||||||||
aveo pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
total aveo pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
dicerna pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
total dicerna pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
epicept corporation | ||||||||||||||||||||||||||||||||||||||||
total epicept corporation | ||||||||||||||||||||||||||||||||||||||||
horizon therapeutics, inc. | ||||||||||||||||||||||||||||||||||||||||
total horizon therapeutics, inc. | ||||||||||||||||||||||||||||||||||||||||
inotek pharmaceuticals corp. | ||||||||||||||||||||||||||||||||||||||||
total inotek pharmaceuticals corp. | ||||||||||||||||||||||||||||||||||||||||
merrimack pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
total merrimack pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
paratek pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
total paratek pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
deferred loan origination revenue | -4,893,000 | -3,210,000 | -3,207,000 | -4,274,000 | ||||||||||||||||||||||||||||||||||||
net assets | 352,683,000 | 366,412,000 | 368,722,000 | 364,233,000 | ||||||||||||||||||||||||||||||||||||
elixir pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
total elixir pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
epicept corporation. | ||||||||||||||||||||||||||||||||||||||||
total epicept corporation. | ||||||||||||||||||||||||||||||||||||||||
short-term credit facility | ||||||||||||||||||||||||||||||||||||||||
non-affiliate investments | 410,567,000 | 451,257,000 | ||||||||||||||||||||||||||||||||||||||
accumulated realized gain on investments | -15,600,000 | |||||||||||||||||||||||||||||||||||||||
portola pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
total portola pharmaceuticals, inc. | ||||||||||||||||||||||||||||||||||||||||
recoly, n.v. | ||||||||||||||||||||||||||||||||||||||||
total recoly, n.v. | ||||||||||||||||||||||||||||||||||||||||
total drug discovery | ||||||||||||||||||||||||||||||||||||||||
long-term credit facility | 417,000 | |||||||||||||||||||||||||||||||||||||||
acceleron pharmaceuticals, inc.* | ||||||||||||||||||||||||||||||||||||||||
affinity videonet, inc. | ||||||||||||||||||||||||||||||||||||||||
total affinity videonet, inc. |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-03-31 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-12-31 | 2014-09-30 | 2011-06-30 | 2011-03-31 | 2010-06-30 | 2010-03-31 | 2009-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||
net increase in net assets resulting from operations | 119,685,000 | 78,887,000 | 50,337,000 | 61,439,000 | 68,711,000 | 41,852,000 | 90,964,000 | 120,178,000 | 94,564,000 | -10,318,000 | -3,336,000 | 23,549,000 | 82,731,000 | 64,163,000 | 151,172,000 | 43,047,000 | 61,765,000 | -28,723,000 | 44,611,000 | 19,271,000 | 48,131,000 | 61,585,000 | -17,138,000 | 35,628,000 | 52,060,000 | 5,946,000 | 18,365,000 | 33,072,000 | 33,149,000 | -5,588,000 | 14,121,000 | 30,812,000 | 9,475,000 | 14,295,000 | 14,170,000 | 4,076,000 | 2,751,000 | 21,919,000 | 20,635,000 | 15,177,000 | 24,318,000 | -1,178,000 | -4,629,000 | 5,714,000 | 13,690,000 |
adjustments to reconcile net increase in net assets resulting from operations to net cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||
purchases of investments | -372,368,000 | -557,388,000 | -415,033,000 | -362,376,000 | -224,976,000 | -349,856,000 | -605,239,000 | -306,957,000 | -476,162,000 | -439,105,000 | -351,601,000 | -404,043,000 | -273,813,000 | -355,333,000 | |||||||||||||||||||||||||||||||
fundings assigned to adviser funds | 0 | 0 | 5,000,000 | 113,379,000 | 56,218,000 | 120,846,000 | |||||||||||||||||||||||||||||||||||||||
principal and fee repayments received | 264,563,000 | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from the sale of debt investments | 20,021,000 | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from the sale of equity and warrant investments | 5,201,000 | 600,000 | 329,000 | 26,015,000 | 4,275,000 | 7,122,000 | 12,026,000 | ||||||||||||||||||||||||||||||||||||||
net change in unrealized (appreciation) depreciation | -32,989,000 | -47,790,000 | 25,565,000 | -13,773,000 | 13,894,000 | 34,722,000 | -3,634,000 | -31,287,000 | -21,105,000 | ||||||||||||||||||||||||||||||||||||
net realized (gain) loss | 1,541,000 | -2,847,000 | -7,960,000 | ||||||||||||||||||||||||||||||||||||||||||
payments of derivative instruments | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
accretion of paid-in-kind interest | -14,475,000 | -13,635,000 | -13,473,000 | -13,400,000 | -12,706,000 | -15,267,000 | -9,897,000 | ||||||||||||||||||||||||||||||||||||||
accretion of loan discounts | -1,765,000 | -2,534,000 | -1,109,000 | -1,476,000 | -1,179,000 | -1,080,000 | -901,000 | -1,595,000 | -1,636,000 | -1,010,000 | -972,000 | -948,000 | -613,000 | -1,176,000 | -1,328,000 | -683,000 | -1,198,000 | -1,147,000 | -1,097,000 | -925,000 | -773,000 | -737,000 | -953,000 | -1,399,000 | -799,000 | -763,000 | -1,469,000 | -1,466,000 | -1,852,000 | -1,924,000 | -1,639,000 | -1,748,000 | -1,913,000 | -1,863,000 | -1,680,000 | -2,957,000 | -2,056,000 | -1,356,000 | -2,102,000 | -2,520,000 | -2,943,000 | -1,740,000 | -990,000 | -588,000 | -1,034,000 |
accretion of loan discounts on convertible notes | 311,000 | 311,000 | 68,000 | ||||||||||||||||||||||||||||||||||||||||||
loss on extinguishment of debt | 84,000 | 21,000 | 15,000 | ||||||||||||||||||||||||||||||||||||||||||
accretion of loan exit fees | -8,489,000 | -7,845,000 | -7,436,000 | -6,894,000 | -6,474,000 | -6,551,000 | -6,736,000 | -10,821,000 | -5,924,000 | -6,348,000 | -5,709,000 | -5,992,000 | -5,628,000 | -5,744,000 | -6,470,000 | -6,486,000 | -6,427,000 | -6,265,000 | -6,697,000 | -6,345,000 | -6,054,000 | -5,199,000 | -4,543,000 | -3,559,000 | -4,516,000 | -4,407,000 | -4,685,000 | -3,760,000 | -4,079,000 | -6,574,000 | -5,935,000 | -5,711,000 | -5,737,000 | -5,231,000 | -4,454,000 | -3,869,000 | -3,857,000 | -2,767,000 | -10,787,000 | -1,127,000 | 239,000 | -568,000 | -1,244,000 | ||
change in loan income, net of collections | 7,889,000 | 11,509,000 | 4,365,000 | 8,610,000 | 3,918,000 | 6,452,000 | 4,529,000 | 8,447,000 | 5,995,000 | 3,584,000 | 3,535,000 | ||||||||||||||||||||||||||||||||||
unearned fees related to unfunded commitments | 1,107,000 | -1,685,000 | 1,102,000 | -241,000 | -676,000 | -324,000 | 841,000 | -2,371,000 | -110,000 | 782,000 | 1,037,000 | 136,000 | -998,000 | -1,505,000 | -321,000 | 718,000 | -225,000 | -463,000 | -493,000 | -2,000 | 906,000 | 992,000 | -844,000 | 292,000 | 1,295,000 | 321,000 | 607,000 | -328,000 | -207,000 | 976,000 | -450,000 | -195,000 | -26,000 | -87,000 | -1,793,000 | -1,345,000 | 547,000 | 527,000 | 1,363,000 | -2,003,000 | |||||
amortization of debt fees and issuance costs | 2,288,000 | 2,112,000 | 1,842,000 | 1,727,000 | 1,711,000 | 1,759,000 | 1,759,000 | 1,753,000 | 1,723,000 | 1,117,000 | 1,684,000 | 2,156,000 | 1,514,000 | 1,151,000 | 1,157,000 | 1,332,000 | 1,185,000 | 758,000 | 1,303,000 | 2,653,000 | 908,000 | 1,198,000 | 3,159,000 | 840,000 | 2,958,000 | 977,000 | 1,049,000 | 2,508,000 | 786,000 | 1,148,000 | 1,054,000 | 785,000 | 1,663,000 | 829,000 | 1,381,000 | 1,288,000 | 1,125,000 | 1,242,000 | |||||||
depreciation and amortization | 84,000 | 81,000 | 89,000 | 93,000 | 91,000 | 96,000 | 186,000 | 23,000 | 44,000 | 56,000 | 54,000 | ||||||||||||||||||||||||||||||||||
stock-based compensation and amortization of restricted stock grants | 3,726,000 | 3,698,000 | 3,637,000 | 3,207,000 | 3,228,000 | 3,238,000 | 2,812,000 | 3,069,000 | 2,853,000 | 2,721,000 | 3,117,000 | 2,622,000 | 2,647,000 | 2,516,000 | 2,141,000 | 2,124,000 | 2,126,000 | 2,082,000 | 1,548,000 | 1,239,000 | 2,550,000 | 3,305,000 | 3,100,000 | 3,123,000 | 2,724,000 | 2,319,000 | 1,628,000 | 1,842,000 | 1,927,000 | 1,850,000 | 1,444,000 | 1,461,000 | 1,628,000 | 2,596,000 | 2,230,000 | 2,204,000 | 2,286,000 | 2,741,000 | 2,733,000 | 2,844,000 | |||||
change in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||||||||||||
interest receivable | -1,432,000 | -1,736,000 | -1,215,000 | -1,129,000 | 69,000 | 3,865,000 | -2,743,000 | -684,000 | 201,000 | -2,479,000 | -2,289,000 | 1,204,000 | 1,534,000 | -1,520,000 | 153,000 | 22,000 | 353,000 | -614,000 | 189,000 | ||||||||||||||||||||||||||
other assets | 1,122,000 | 2,499,000 | 2,041,000 | -5,935,000 | 10,930,000 | -408,000 | -2,915,000 | -28,999,000 | 3,565,000 | 13,711,000 | -13,229,000 | 402,000 | 129,000 | 1,849,000 | |||||||||||||||||||||||||||||||
accrued liabilities | 492,000 | 14,554,000 | -19,345,000 | 7,669,000 | -3,096,000 | 10,369,000 | -1,254,000 | 7,766,000 | -14,678,000 | 8,437,000 | -21,067,000 | 276,000 | 7,540,000 | -8,496,000 | 7,120,000 | -804,000 | 5,745,000 | -8,233,000 | 4,482,000 | 2,627,000 | 8,719,000 | 1,417,000 | 4,726,000 | -3,266,000 | 7,009,000 | -8,025,000 | 7,196,000 | -3,355,000 | 6,153,000 | -5,255,000 | 4,621,000 | 150,000 | 4,150,000 | -5,029,000 | -975,000 | 5,865,000 | 4,178,000 | -3,978,000 | 2,620,000 | 646,000 | 1,358,000 | -870,000 | 3,451,000 | -7,764,000 | -1,076,000 |
net cash (used in) operating activities | -222,197,000 | ||||||||||||||||||||||||||||||||||||||||||||
cash flows from investing activities: | |||||||||||||||||||||||||||||||||||||||||||||
purchases of capital equipment | -29,000 | -19,000 | -8,000 | -5,000 | -30,000 | -378,000 | -292,000 | -497,000 | -94,000 | -24,000 | -50,000 | 0 | 0 | -12,000 | -22,000 | -48,000 | -38,000 | -29,000 | -111,000 | -243,000 | -158,000 | -83,000 | -150,000 | -209,000 | -44,000 | -72,000 | -147,000 | -38,000 | -50,000 | -39,000 | -25,000 | -81,000 | -19,000 | -127,000 | -29,000 | -78,000 | -38,000 | -42,000 | -96,000 | -37,000 | -76,000 | -27,000 | -115,000 | -50,000 | -24,000 |
net cash (used in) investing activities | -8,000 | ||||||||||||||||||||||||||||||||||||||||||||
cash flows from financing activities: | |||||||||||||||||||||||||||||||||||||||||||||
issuance of common stock | 0 | 150,753,000 | 40,160,000 | 153,600,000 | 0 | 0 | 67,275,000 | 100,738,000 | 66,172,000 | 62,537,000 | 86,184,000 | -195,000 | 3,614,000 | -96,000 | 38,699,000 | 34,963,000 | 37,445,000 | -288,000 | 95,422,000 | -43,000 | 893,000 | 30,872,000 | 106,674,000 | 5,952,000 | 10,601,000 | 9,423,000 | -37,000 | 46,948,000 | 42,650,000 | 26,507,000 | 11,266,000 | 12,404,000 | 0 | 0 | 0 | 100,092,000 | |||||||||
offering expenses | -12,000 | -1,319,000 | -743,000 | -1,555,000 | -88,000 | -36,000 | -867,000 | -833,000 | -830,000 | -682,000 | -935,000 | -10,000 | |||||||||||||||||||||||||||||||||
retirement of employee shares | -974,000 | -1,026,000 | -3,469,000 | -1,035,000 | -1,090,000 | 1,396,000 | -2,701,000 | -577,000 | -1,378,000 | -894,000 | -3,272,000 | -744,000 | -323,000 | -1,039,000 | -270,000 | -389,000 | -282,000 | -896,000 | -55,000 | -4,213,000 | -174,000 | -676,000 | -242,000 | 50,000 | -241,000 | -460,000 | -243,000 | -495,000 | -555,000 | -1,392,000 | -391,000 | -130,000 | -619,000 | -1,385,000 | -569,000 | ||||||||||
distributions paid | -83,635,000 | -80,548,000 | -78,873,000 | -77,884,000 | -75,498,000 | -75,842,000 | -74,251,000 | -71,926,000 | -63,834,000 | -59,072,000 | -56,857,000 | -44,243,000 | -44,088,000 | -41,755,000 | -38,033,000 | -35,634,000 | -35,359,000 | -43,396,000 | -36,180,000 | -35,011,000 | -31,594,000 | -29,268,000 | -31,287,000 | -29,191,000 | -26,250,000 | -25,993,000 | -25,668,000 | -25,009,000 | -24,929,000 | -25,279,000 | |||||||||||||||
issuance of debt | 163,000,000 | 932,174,000 | 569,188,000 | 393,154,000 | 283,000,000 | 253,000,000 | 403,000,000 | 126,000,000 | 225,000,000 | 588,737,000 | 535,500,000 | 805,911,000 | 248,277,000 | 342,218,000 | |||||||||||||||||||||||||||||||
repayment of debt | -77,946,000 | -847,078,000 | -360,812,000 | -360,525,000 | -292,000,000 | -259,000,000 | -207,000,000 | -205,000,000 | -86,000,000 | -413,374,000 | -441,000,000 | ||||||||||||||||||||||||||||||||||
debt issuance costs | -36,000 | -6,113,000 | -4,927,000 | -1,936,000 | -4,140,000 | -4,277,000 | 1,289,000 | -1,842,000 | |||||||||||||||||||||||||||||||||||||
fees paid for credit facilities | 0 | -3,026,000 | -419,000 | ||||||||||||||||||||||||||||||||||||||||||
net cash from financing activities | 397,000 | 143,817,000 | 160,105,000 | 101,653,000 | -87,426,000 | -80,482,000 | 185,456,000 | -51,598,000 | 134,040,000 | 174,332,000 | 114,864,000 | 184,281,000 | -100,837,000 | -100,375,000 | -42,234,000 | -10,127,000 | 1,245,000 | -33,923,000 | 93,088,000 | -17,198,000 | 112,102,000 | 122,406,000 | 133,977,000 | -8,008,000 | 110,416,000 | -36,078,000 | 41,790,000 | -38,240,000 | -39,278,000 | 128,031,000 | 23,282,000 | -8,645,000 | 45,762,000 | -4,783,000 | -12,397,000 | -76,914,000 | 444,000 | 68,026,000 | 71,543,000 | 28,254,000 | 86,528,000 | -15,589,000 | -4,348,000 | -6,737,000 | -10,277,000 |
net increase in cash, cash equivalents, foreign cash and restricted cash | -2,805,000 | -1,025,000 | -62,100,000 | ||||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents, foreign cash and restricted cash at beginning of period | 0 | 0 | 116,421,000 | ||||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents, foreign cash and restricted cash at end of period | -2,805,000 | -1,025,000 | 54,321,000 | ||||||||||||||||||||||||||||||||||||||||||
supplemental disclosures of cash flow information and non-cash investing and financing activities: | |||||||||||||||||||||||||||||||||||||||||||||
interest paid | 29,787,000 | 11,428,000 | 25,580,000 | 13,629,000 | 28,685,000 | 11,452,000 | 24,084,000 | 9,739,000 | 23,840,000 | 3,632,000 | 19,010,000 | 16,274,000 | 11,352,000 | 17,359,000 | 12,065,000 | ||||||||||||||||||||||||||||||
income tax, including excise tax, paid | 57,000 | 256,000 | 6,033,000 | 68,000 | 29,000 | 254,000 | 4,902,000 | 62,000 | 4,763,000 | 162,000 | 7,119,000 | 107,000 | 136,000 | 3,488,000 | -20,000 | ||||||||||||||||||||||||||||||
distributions reinvested | 1,753,000 | 2,535,000 | 2,511,000 | 2,492,000 | 2,445,000 | 2,052,000 | 1,780,000 | 1,688,000 | 940,000 | 921,000 | 1,025,000 | 947,000 | 1,070,000 | 1,040,000 | 946,000 | 923,000 | 643,000 | 827,000 | 669,000 | 544,000 | 557,000 | 632,000 | 635,000 | 518,000 | 428,000 | 426,000 | 422,000 | 658,000 | 734,000 | 388,000 | |||||||||||||||
net realized loss | 33,311,000 | -8,168,000 | -1,305,000 | ||||||||||||||||||||||||||||||||||||||||||
net cash from operating activities | -29,244,000 | -240,891,000 | 130,877,000 | -80,874,000 | -118,085,000 | -188,622,000 | 40,866,000 | 38,234,000 | -50,419,000 | 231,817,000 | -11,247,000 | 11,934,000 | -24,702,000 | -13,912,000 | 24,772,000 | -109,958,000 | -141,566,000 | -133,611,000 | -21,489,000 | -156,885,000 | 63,015,000 | -95,029,000 | 9,021,000 | 55,902,000 | 11,706,000 | -79,883,000 | 23,398,000 | 453,000 | -82,353,000 | -35,849,000 | 101,857,000 | -66,314,000 | -114,055,000 | 7,581,000 | 13,007,000 | -4,497,000 | 24,825,000 | -48,571,000 | -12,056,000 | ||||||
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
free cash flows | -29,244,000 | -240,891,000 | 130,877,000 | -80,874,000 | -118,085,000 | -188,622,000 | 40,866,000 | 38,234,000 | -50,419,000 | 231,817,000 | -11,247,000 | 11,934,000 | -24,702,000 | -13,912,000 | 24,772,000 | -109,958,000 | -141,566,000 | -133,611,000 | -21,489,000 | -156,885,000 | 63,015,000 | -95,029,000 | 9,021,000 | 55,902,000 | 11,706,000 | -79,883,000 | 23,398,000 | 453,000 | -82,353,000 | -35,849,000 | 101,857,000 | -66,314,000 | -114,055,000 | 7,581,000 | 13,007,000 | -4,497,000 | 24,825,000 | -48,571,000 | -12,056,000 | ||||||
net cash from investing activities | -5,000 | -292,000 | -94,000 | -24,000 | -50,000 | 0 | 0 | -12,000 | -22,000 | -48,000 | -38,000 | -29,000 | -111,000 | -243,000 | -158,000 | -83,000 | -150,000 | -209,000 | -44,000 | -72,000 | 3,980,000 | 9,375,000 | -4,352,000 | -4,641,000 | 633,000 | -5,456,000 | 22,000 | 5,418,000 | -3,862,000 | 6,374,000 | 10,101,000 | -9,331,000 | 1,358,000 | -1,815,000 | -469,000 | 103,000 | -68,000 | ||||||||
principal and fee repayments received and proceeds from the sale of debt investments | 144,483,000 | 233,738,000 | 234,276,000 | 313,568,000 | 174,100,000 | 317,330,000 | |||||||||||||||||||||||||||||||||||||||
payments for derivative instruments | |||||||||||||||||||||||||||||||||||||||||||||
accretion of loan discount on convertible notes | 0 | 112,000 | 168,000 | 168,000 | 168,000 | 167,000 | 168,000 | 168,000 | 168,000 | 167,000 | 168,000 | 168,000 | 168,000 | 167,000 | 168,000 | 168,000 | 168,000 | 167,000 | 168,000 | 168,000 | 112,000 | ||||||||||||||||||||||||
fees paid for credit facilities and debentures | 0 | -5,090,000 | -984,000 | -616,000 | -302,000 | -3,058,000 | -35,000 | -1,041,000 | -250,000 | 114,000 | -2,433,000 | -33,000 | 164,000 | -554,000 | -2,443,000 | -68,000 | -78,000 | 105,000 | 225,000 | -1,000 | -252,000 | -220,000 | 266,000 | -1,166,000 | -141,000 | -338,000 | -114,000 | -268,000 | 100,000 | -433,000 | -752,000 | -606,000 | -455,000 | -1,036,000 | -376,000 | ||||||||||
net increase in cash, cash equivalents, and restricted cash | 5,099,000 | -21,368,000 | -55,727,000 | 53,072,000 | 56,223,000 | -73,808,000 | 225,147,000 | -62,603,000 | -150,806,000 | -21,422,000 | 13,141,000 | -58,654,000 | |||||||||||||||||||||||||||||||||
cash, cash equivalents, and restricted cash at beginning of period | 0 | 0 | 116,013,000 | 25,876,000 | 0 | 136,265,000 | 0 | 0 | 237,622,000 | 0 | 0 | 114,996,000 | |||||||||||||||||||||||||||||||||
cash, cash equivalents, and restricted cash at end of period | 5,099,000 | -21,368,000 | 60,286,000 | 78,948,000 | 56,223,000 | 62,457,000 | 225,147,000 | -62,603,000 | 86,816,000 | -21,422,000 | 13,141,000 | 56,342,000 | |||||||||||||||||||||||||||||||||
cash flows from (used in) operating activities: | |||||||||||||||||||||||||||||||||||||||||||||
proceeds from the sale of equity investments | 14,972,000 | ||||||||||||||||||||||||||||||||||||||||||||
accretion of paid-in-kind principal | -6,671,000 | -5,528,000 | -4,967,000 | -4,976,000 | -3,115,000 | -2,515,000 | -2,475,000 | -2,558,000 | -2,251,000 | -2,100,000 | -2,130,000 | -2,034,000 | -2,261,000 | -2,211,000 | -2,099,000 | -2,323,000 | -2,344,000 | -2,189,000 | -2,507,000 | -2,608,000 | -2,422,000 | -2,457,000 | -2,199,000 | -2,002,000 | -2,074,000 | -1,708,000 | -1,535,000 | -1,241,000 | -1,212,000 | -919,000 | -665,000 | -559,000 | -653,000 | -523,000 | -890,000 | -948,000 | -568,000 | -992,000 | |||||||
realized loss on extinguishment of debt | |||||||||||||||||||||||||||||||||||||||||||||
cash flows used in investing activities: | |||||||||||||||||||||||||||||||||||||||||||||
net increase in cash, cash equivalents and restricted cash | 79,065,000 | 7,331,000 | 1,986,000 | -19,243,000 | 216,000 | -29,706,000 | -46,513,000 | 26,865,000 | |||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at beginning of period | 0 | 0 | 0 | 45,857,000 | 0 | 0 | 0 | 94,995,000 | |||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at end of period | 79,065,000 | 7,331,000 | 1,986,000 | 26,614,000 | 216,000 | -29,706,000 | -46,513,000 | 121,860,000 | |||||||||||||||||||||||||||||||||||||
principal and fee repayments received on debt investments | 207,466,000 | ||||||||||||||||||||||||||||||||||||||||||||
net unrealized (appreciation) depreciation | 48,316,000 | 36,742,000 | |||||||||||||||||||||||||||||||||||||||||||
net realized loss on investments | 14,282,000 | -7,770,000 | 14,712,000 | 48,501,000 | -2,890,000 | -4,555,000 | |||||||||||||||||||||||||||||||||||||||
realized loss on debt extinguishment | |||||||||||||||||||||||||||||||||||||||||||||
amortization of debt issuance costs | 1,199,000 | 1,371,000 | |||||||||||||||||||||||||||||||||||||||||||
fundings allocated to adviser funds | 61,081,000 | ||||||||||||||||||||||||||||||||||||||||||||
principal and fee payments received on investments | 96,311,000 | 343,520,000 | 185,054,000 | 209,747,000 | 300,531,000 | 211,475,000 | 101,723,000 | 167,511,000 | 175,682,000 | 156,825,000 | 201,809,000 | 65,845,000 | 89,531,000 | 89,624,000 | 134,166,000 | 280,181,000 | 154,031,000 | 137,466,000 | 207,721,000 | 141,798,000 | 104,174,000 | 119,253,000 | 143,523,000 | 77,808,000 | 130,346,000 | 225,039,000 | 78,840,000 | 75,368,000 | |||||||||||||||||
proceeds from the sale of investments | 8,816,000 | 27,971,000 | 57,623,000 | 12,973,000 | 10,720,000 | 2,255,000 | 2,726,000 | 17,076,000 | 7,909,000 | 10,400,000 | 11,434,000 | 9,830,000 | 2,365,000 | 7,753,000 | 8,186,000 | 1,582,000 | 1,936,000 | 3,495,000 | 6,455,000 | 11,995,000 | 2,297,000 | 10,660,000 | 1,405,000 | 4,636,000 | 1,369,000 | 9,029,000 | 493,000 | 7,001,000 | 15,455,000 | ||||||||||||||||
loss on debt extinguishment | 3,686,000 | 0 | 0 | 0 | 1,000 | ||||||||||||||||||||||||||||||||||||||||
cash flows used in operating activities: | |||||||||||||||||||||||||||||||||||||||||||||
net unrealized (appreciation) depreciation on investments | 35,651,000 | -60,049,000 | -21,833,000 | ||||||||||||||||||||||||||||||||||||||||||
net realized (gain) loss on investments | |||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 1,000 | -1,000 | 0 | -16,000 | -9,000 | -5,000 | 7,000 | -198,000 | 198,000 | -431,000 | 438,000 | -194,000 | 1,000 | 0 | 0 | 144,000 | -88,000 | -810,000 | 903,000 | -228,000 | -504,000 | -855,000 | 555,000 | -420,000 | -406,000 | 181,000 | -112,000 | 136,000 | |||||||||||||||||
cash flows used in financing activities: | |||||||||||||||||||||||||||||||||||||||||||||
repayments of debt | -572,054,000 | -302,931,000 | -397,727,000 | ||||||||||||||||||||||||||||||||||||||||||
fundings assigned to external funds | |||||||||||||||||||||||||||||||||||||||||||||
change in deferred loan origination revenue | 1,432,000 | 13,414,000 | 4,794,000 | 8,322,000 | 2,345,000 | 1,319,000 | 4,560,000 | 2,830,000 | 7,033,000 | 3,754,000 | 2,623,000 | 57,000 | 2,784,000 | 631,000 | -121,000 | 1,064,000 | -265,000 | 284,000 | 600,000 | -209,000 | -699,000 | 655,000 | 629,000 | -483,000 | 218,000 | 1,540,000 | 335,000 | -267,000 | -94,000 | -1,852,000 | |||||||||||||||
depreciation | 93,000 | 94,000 | 96,000 | 97,000 | 96,000 | 126,000 | 87,000 | 74,000 | 50,000 | 51,000 | 52,000 | 53,000 | 48,000 | 46,000 | 48,000 | 48,000 | 53,000 | 52,000 | 50,000 | 48,000 | 48,000 | 56,000 | 41,000 | 41,000 | 53,000 | 58,000 | 105,000 | 55,000 | 91,000 | 89,000 | 100,000 | 95,000 | 91,000 | ||||||||||||
purchases assigned to external funds | 48,353,000 | ||||||||||||||||||||||||||||||||||||||||||||
purchase of investments | -129,827,000 | -265,541,000 | -132,278,000 | -233,612,000 | -240,853,000 | -177,011,000 | -368,145,000 | -239,702,000 | -254,731,000 | -142,369,000 | -327,459,000 | -236,285,000 | -277,474,000 | -146,689,000 | -186,967,000 | -153,665,000 | -219,199,000 | -131,022,000 | -159,829,000 | -170,921,000 | -180,653,000 | -158,626,000 | -164,035,000 | -209,387,000 | -207,833,000 | -128,562,000 | -104,774,000 | -85,024,000 | -145,956,000 | -88,108,000 | -9,097,000 | ||||||||||||||
net unrealized depreciation (appreciation) on investments | -123,722,000 | -52,834,000 | -25,940,000 | 76,270,000 | -1,622,000 | 24,409,000 | -8,593,000 | -27,997,000 | 47,122,000 | -2,976,000 | -38,197,000 | 15,197,000 | 1,334,000 | -5,614,000 | 2,370,000 | 9,482,000 | |||||||||||||||||||||||||||||
interest and fees receivable | 429,000 | -48,000 | -321,000 | 1,070,000 | -361,000 | -1,640,000 | 160,000 | -1,407,000 | -1,237,000 | -1,314,000 | -3,321,000 | 1,175,000 | -1,755,000 | -303,000 | 1,280,000 | 130,000 | -753,000 | -1,408,000 | 1,539,000 | -1,753,000 | -712,000 | 698,000 | -124,000 | 351,000 | -306,000 | -446,000 | |||||||||||||||||||
prepaid expenses and other assets | 2,646,000 | -457,000 | 2,713,000 | -4,100,000 | 1,913,000 | -833,000 | -2,181,000 | -9,272,000 | -3,240,000 | 1,623,000 | -1,352,000 | 1,870,000 | 3,000 | -1,689,000 | 1,650,000 | -1,061,000 | 3,006,000 | 9,269,000 | -6,501,000 | -2,540,000 | -7,000 | 2,089,000 | 70,000 | 2,674,000 | 7,459,000 | -517,000 | -1,981,000 | 2,071,000 | 440,000 | -788,000 | 1,357,000 | ||||||||||||||
repurchase of common stock | 0 | 0 | -1,000 | -4,789,000 | -147,000 | ||||||||||||||||||||||||||||||||||||||||
issuance of july 2024 notes | 0 | ||||||||||||||||||||||||||||||||||||||||||||
issuance of april 2025 notes | |||||||||||||||||||||||||||||||||||||||||||||
issuance of 2033 notes | 0 | ||||||||||||||||||||||||||||||||||||||||||||
issuance of 2027 asset-backed notes | |||||||||||||||||||||||||||||||||||||||||||||
issuance of 2028 asset-backed notes | 0 | 0 | 0 | 250,000,000 | |||||||||||||||||||||||||||||||||||||||||
issuance of february 2025 notes | 0 | 0 | 0 | 50,000,000 | |||||||||||||||||||||||||||||||||||||||||
issuance of june 2025 notes | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
issuance of march 2026 notes tranche a | |||||||||||||||||||||||||||||||||||||||||||||
repayments of 2024 notes | 0 | 0 | 0 | -83,510,000 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
repayment of 2018 asset-backed notes | |||||||||||||||||||||||||||||||||||||||||||||
repayments of 2021 asset-backed notes | -3,516,000 | -27,572,000 | -2,488,000 | -15,577,000 | -16,324,000 | -22,202,000 | -13,733,000 | -7,794,000 | -7,799,000 | ||||||||||||||||||||||||||||||||||||
repayments of long-term sba debentures | 0 | -11,250,000 | 0 | -38,750,000 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||
borrowings of credit facilities | 160,392,000 | 168,794,000 | 83,262,000 | 242,026,000 | 206,392,000 | 75,642,000 | 294,358,000 | 110,834,000 | 137,488,000 | 65,409,000 | 0 | 0 | 0 | 8,497,000 | 92,615,000 | 22,291,000 | 64,319,000 | 106,666,000 | 25,000,000 | 18,750,000 | 16,019,000 | ||||||||||||||||||||||||
repayments of credit facilities | -197,884,000 | -131,302,000 | -154,388,000 | -274,819,000 | -114,058,000 | -157,478,000 | -245,204,000 | -119,523,000 | -165,425,000 | -42,839,000 | 0 | 0 | 0 | -13,513,000 | -87,601,000 | -22,291,000 | -125,322,000 | -95,663,000 | -35,324,000 | -52,987,000 | 0 | -25,000,000 | -16,436,000 | ||||||||||||||||||||||
cash paid for debt issuance costs | 0 | 0 | -801,000 | -618,000 | -423,000 | -1,014,000 | -152,000 | -2,965,000 | 196,000 | -3,459,000 | -1,680,000 | -182,000 | -24,000 | -4,456,000 | -431,000 | -136,000 | |||||||||||||||||||||||||||||
net realized gain on investments | -6,967,000 | 606,000 | -3,350,000 | 8,911,000 | 4,920,000 | -218,000 | 24,454,000 | 5,712,000 | -3,237,000 | -1,149,000 | -7,870,000 | -25,000 | 4,468,000 | 3,277,000 | -6,366,000 | 1,254,000 | -3,312,000 | -7,105,000 | -5,664,000 | -659,000 | -4,370,000 | -3,359,000 | -362,000 | ||||||||||||||||||||||
issuance of 2022 convertible notes | |||||||||||||||||||||||||||||||||||||||||||||
issuance of 2022 notes | |||||||||||||||||||||||||||||||||||||||||||||
issuance of 2024 notes | |||||||||||||||||||||||||||||||||||||||||||||
issuance of 2025 notes | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
repayments of 2019 notes | |||||||||||||||||||||||||||||||||||||||||||||
supplemental non-cash investing and financing activities: | |||||||||||||||||||||||||||||||||||||||||||||
cash paid for redemption of convertible notes | |||||||||||||||||||||||||||||||||||||||||||||
income taxes paid | |||||||||||||||||||||||||||||||||||||||||||||
payment of loan discount on convertible notes | |||||||||||||||||||||||||||||||||||||||||||||
reduction of restricted cash | 4,127,000 | -5,375,000 | |||||||||||||||||||||||||||||||||||||||||||
issuance of convertible notes | 0 | 0 | 0 | 230,000,000 | |||||||||||||||||||||||||||||||||||||||||
repayments of 2017 asset-backed notes | 0 | 0 | -4,203,000 | -11,846,000 | |||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | -49,259,000 | -19,844,000 | 12,272,000 | 135,096,000 | |||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of period | 0 | 0 | 0 | 13,044,000 | 0 | 0 | 0 | 95,196,000 | 0 | 0 | 0 | 227,116,000 | 0 | 0 | 0 | 107,014,000 | 0 | 124,828,000 | 0 | ||||||||||||||||||||||||||
cash and cash equivalents at end of period | -49,259,000 | -19,844,000 | 12,272,000 | 148,140,000 | -55,968,000 | 9,297,000 | 46,237,000 | 13,478,000 | -52,108,000 | 31,317,000 | -55,769,000 | 171,756,000 | 68,489,000 | 42,619,000 | 83,810,000 | 114,435,000 | -53,387,000 | 106,138,000 | 39,880,000 | ||||||||||||||||||||||||||
net unrealized appreciation (depreciation) on investments | 260,000 | ||||||||||||||||||||||||||||||||||||||||||||
issuance of 2024 notes payable | 0 | 0 | 5,637,000 | 0 | |||||||||||||||||||||||||||||||||||||||||
repayments of 2019 notes payable | 0 | 1,000 | -110,365,000 | 0 | |||||||||||||||||||||||||||||||||||||||||
net unrealized depreciation on investments | -13,587,000 | 31,503,000 | 20,145,000 | 834,000 | 25,880,000 | 15,352,000 | -17,517,000 | ||||||||||||||||||||||||||||||||||||||
reduction of (increase in) restricted cash | -4,302,000 | -4,602,000 | |||||||||||||||||||||||||||||||||||||||||||
reduction of (investment in) restricted cash | 10,139,000 | -9,289,000 | -10,564,000 | 1,395,000 | |||||||||||||||||||||||||||||||||||||||||
other long-term assets | 1,855,000 | -1,788,000 | -354,000 | 153,000 | -44,000 | ||||||||||||||||||||||||||||||||||||||||
issuance of 2021 asset-backed notes | |||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -55,968,000 | 9,297,000 | 46,237,000 | -81,718,000 | 31,317,000 | -55,769,000 | -55,360,000 | 68,489,000 | 42,619,000 | ||||||||||||||||||||||||||||||||||||
accretion of loan discount on convertible senior notes | 0 | 21,000 | 61,000 | 61,000 | 62,000 | 61,000 | 62,000 | 105,000 | 197,000 | ||||||||||||||||||||||||||||||||||||
payment of loan discount on convertible senior notes | 0 | 0 | -3,000 | -2,000 | |||||||||||||||||||||||||||||||||||||||||
dividend distributions paid | -22,856,000 | ||||||||||||||||||||||||||||||||||||||||||||
cash paid for redemption of convertible senior notes | 0 | 0 | 0 | -35,000 | -30,000 | -21,554,000 | |||||||||||||||||||||||||||||||||||||||
dividend distributions reinvested | 346,000 | ||||||||||||||||||||||||||||||||||||||||||||
reduction of (investments in) restricted cash | 5,545,000 | ||||||||||||||||||||||||||||||||||||||||||||
dividends paid | -21,875,000 | -21,343,000 | -22,082,000 | -21,863,000 | -19,704,000 | -19,746,000 | -19,439,000 | -9,646,000 | -8,890,000 | -6,510,000 | -9,713,000 | ||||||||||||||||||||||||||||||||||
dividends reinvested | 496,000 | 857,000 | 390,000 | 637,000 | 562,000 | 333,000 | 488,000 | ||||||||||||||||||||||||||||||||||||||
borrowings on credit facilities | |||||||||||||||||||||||||||||||||||||||||||||
issuance (retirement) of employee shares | -2,809,000 | -586,000 | |||||||||||||||||||||||||||||||||||||||||||
paid-in-kind principal | 656,000 | 1,356,000 | 709,000 | 653,000 | |||||||||||||||||||||||||||||||||||||||||
proceeds from issuance (repurchase of employee shares due to restricted stock vesting) of common stock | -798,000 | -1,037,000 | |||||||||||||||||||||||||||||||||||||||||||
issuance of 2019 notes payable | |||||||||||||||||||||||||||||||||||||||||||||
issuance of 2017 asset-backed notes | |||||||||||||||||||||||||||||||||||||||||||||
principal payments received on investments | 115,839,000 | 92,035,000 | 85,988,000 | 79,502,000 | 77,983,000 | 50,853,000 | |||||||||||||||||||||||||||||||||||||||
loss on conversion of convertible senior notes | |||||||||||||||||||||||||||||||||||||||||||||
repayments of asset-backed notes | -18,596,000 | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of investments | 1,019,000 | 16,897,000 | 5,736,000 | 2,090,000 | 1,252,000 | ||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net increase in net assets resulting from operations to net cash from and provided by operating activities: | |||||||||||||||||||||||||||||||||||||||||||||
conversion of investment assets to other current assets | |||||||||||||||||||||||||||||||||||||||||||||
net increase in unrealized appreciation on investments | |||||||||||||||||||||||||||||||||||||||||||||
stock-based compensation | 187,000 | 167,000 | 190,000 | 176,000 | 499,000 | ||||||||||||||||||||||||||||||||||||||||
amortization of restricted stock grants | 757,000 | 569,000 | 584,000 | 305,000 | |||||||||||||||||||||||||||||||||||||||||
income tax payable/receivable | |||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock | -110,000 | 6,000 | 195,000 | 383,000 | |||||||||||||||||||||||||||||||||||||||||
stock repurchase program | -3,465,000 | -234,000 | |||||||||||||||||||||||||||||||||||||||||||
issuance of convertible senior notes | |||||||||||||||||||||||||||||||||||||||||||||
cash paid for issuance costs for convertible senior notes | |||||||||||||||||||||||||||||||||||||||||||||
net increase in cash | 83,810,000 | 7,421,000 | -53,388,000 | -18,690,000 | 39,880,000 | ||||||||||||||||||||||||||||||||||||||||
common stock issued for director compensation | |||||||||||||||||||||||||||||||||||||||||||||
amortization of deferred loan origination revenue | -542,000 | -639,000 | -1,118,000 | ||||||||||||||||||||||||||||||||||||||||||
income tax payable | 0 | 8,000 | -4,000 | ||||||||||||||||||||||||||||||||||||||||||
deferred loan origination revenue | 2,225,000 | 1,424,000 | 52,000 | ||||||||||||||||||||||||||||||||||||||||||
dividends paid, net of dividends reinvested | |||||||||||||||||||||||||||||||||||||||||||||
common stock issued in lieu of director compensation | 14,000 | ||||||||||||||||||||||||||||||||||||||||||||
net realized appreciation paid to lender | |||||||||||||||||||||||||||||||||||||||||||||
net cash from (used in ) operating activities | |||||||||||||||||||||||||||||||||||||||||||||
net unrealized appreciation due to lender |