Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net increase in net assets resulting from operations $ 44,869 $ 33,303
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by operating activities:    
Investments in portfolio companies (156,523) (171,762)
Proceeds from sales and repayments of debt investments in portfolio companies 119,927 123,357
Proceeds from sales and return of capital of equity investments in portfolio companies 13,280 42,875
Net unrealized (appreciation) depreciation (30,415) 11,452
Net realized (gain) loss 24,986 (7,865)
Amortization of deferred financing costs 1,273 1,080
Amortization of deferred offering costs 129 210
Accretion of unearned income (5,772) (3,576)
Payment-in-kind interest (3,805) (2,091)
Cumulative dividends (129) (608)
Deferred tax provision 2,235 321
Changes in other assets and liabilities:    
Interest and dividend receivable (2,307) 795
Prepaid and other assets (1,982) 171
Management and incentive fees payable 524 (58)
Interest payable 3,231 3,513
Accounts payable and other liabilities (552) (1,024)
Net cash provided by operating activities 8,969 30,093
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common stock 4,750 750
Redemption of common stock (17,542) (11,986)
Payment of offering costs (129) (210)
Dividends paid (26,990) (24,653)
Proceeds from Credit Facilities 107,000 87,000
Repayments on Credit Facilities (72,000) (161,000)
Proceeds from Series A Notes due 2026 0 72,500
Payment of deferred financing costs (2,262) (149)
Net cash used in financing activities (7,173) (37,748)
Net increase (decrease) in cash and cash equivalents 1,796 (7,655)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 21,312 25,813
CASH AND CASH EQUIVALENTS AT END OF PERIOD 23,108 18,158
Supplemental cash flow disclosures:    
Interest paid 22,106 9,578
Taxes paid 1,960 1,992
Non-cash financing activities:    
Dividends declared and unpaid 14,002 12,809
Value of shares issued pursuant to the DRIP $ 13,864 $ 13,304