Income Taxes (Tables)

9 Months Ended

Mar. 31, 2024

Schedule of Investment Company, Distribution To Shareholders

For income tax purposes, dividends paid and distributions made to stockholders are reported as ordinary income, capital gains, non-taxable return of capital, or a combination thereof. The tax character of dividends paid to common stockholders during the tax years ended August 31, 2023, 2022, and 2021 were as follows:


	Tax Year Ended August 31,
	2023		2022		2021
Ordinary income	$	243,085	$	231,984	$	251,171
Capital gain	—		49,719		—
Return of capital	44,838		—		25,784
Total distributions paid to common stockholders	$	287,923	$	281,703	$	276,955

The Company began issuing shares of Preferred Stock and declaring dividends on shares Preferred Stock outstanding during the tax year ended August 31, 2021. The tax character of dividends paid to preferred stockholders during the tax years ended August 31, 2023, 2022, and 2021 were as follows:


	Tax Year Ended August 31,
	2023		2022		2021
Ordinary income	$	74,975	$	22,551	$	2,391
Capital gain	—		6,476
Return of capital	—		—
Total distributions paid to preferred stockholders	$	74,975	$	29,027	$	2,391

Schedule of Reconciliation of Net Increase in Net Assets Resulting from Operations to Taxable Income and Tax Cost Basis

The following reconciles the net increase in net assets resulting from operations to taxable income for the tax years ended August 31, 2023, 2022, and 2021:


	Tax Year Ended August 31,
	2023			2022		2021
Net increase (decrease) in net assets resulting from operations	$	(88,043)		$	735,337	$	428,106
Net realized (gains) losses on investments	40,795			22,375		16,173
Net unrealized (gains) losses on investments	480,916			(405,414)		(143,654)
Other temporary book-to-tax differences(1)	(148,538)			(66,363)		(47,330)
Permanent differences	27			30		(20)
Taxable income before deductions for distributions	$	285,157	(1)	$	285,965	$	253,275

(1) Temporary book-to-tax differences include timing recognition of CLO income, flow-through investment income/loss, and dividend income from portfolio companies


	March 31, 2024		June 30, 2023
Tax cost of investments	$	7,564,425	$	8,028,254

Tax unrealized appreciation	1,348,126		1,334,168
Tax unrealized depreciation	1,105,839		1,637,491
Net unrealized appreciation(depreciation)	$	242,287	$	(303,323)

Schedule of Capital Loss Carryforwards


	Tax Year Ended August 31, 2023
Undistributed ordinary income	$	—
Undistributed long-term capital gains	—
Capital loss carryforwards	$	100,954