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FINANCIAL HIGHLIGHTS
 12 Months Ended
Dec. 31, 2025
Investment Company [Abstract]  
FINANCIAL HIGHLIGHTS
14. FINANCIAL HIGHLIGHTS

The following is a schedule of financial highlights as of and for the years ended December 31, 2025, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017 and 2016:

 As of and For the Years Ended December 31,
Per Share Data:20252024202320222021
Net asset value at beginning of period(1)$19.89 $19.24 $18.40 $18.96 $16.97 
Issuances of common stock0.11 0.12 0.01 0.10 0.11 
Conversion of 2024 Convertible Notes — 0.01 — — — 
Repurchases of common stock— — — — — 
Net investment income for period(2)2.02 2.30 2.27 2.19 1.66 
Net realized and unrealized gains (losses) for period(2)(0.16)0.14 0.48 (0.98)1.84 
Net increase in stockholders' equity resulting from operations1.97 2.57 2.76 1.31 3.61 
Total distributions to stockholders(1.92)(1.92)(1.92)(1.87)(1.62)
Net asset value at end of period(1)$19.94 $19.89 $19.24 $18.40 $18.96 
Per share market value at end of period$20.23 $21.89 $20.03 $18.47 $21.19 
Total return based on market value(3)1.12 %19.80 %19.94 %(3.83)%36.18 %
Total return based on net asset value(4)10.27 %13.83 %15.65 %7.13 %21.97 %
Shares outstanding at end of period718 672 582 519 468 
Ratio/Supplemental Data: 
Net assets at end of period$14,318 $13,355 $11,201 $9,555 $8,868 
Ratio of operating expenses to average net assets(5)(6)11.43 %12.26 %12.78 %10.19 %13.05 %
Ratio of net investment income to average net assets(5)(7)10.24 %11.64 %12.10 %11.73 %9.19 %
Portfolio turnover rate(5)41 %39 %26 %37 %60 %

 As of and For the Years Ended December 31,
Per Share Data:20202019201820172016
Net asset value at beginning of period(1)$17.32 $17.12 $16.65 $16.45 $16.46 
Issuances of common stock— 0.02 — (0.01)— 
Conversion of 2024 Convertible Notes — — — — — 
Repurchases of common stock0.11 — — — — 
Net investment income for period(2)1.87 1.90 1.63 1.20 1.57 
Net realized and unrealized gains (losses) for period(2)(0.73)(0.04)0.38 0.36 (0.06)
Net increase in stockholders' equity resulting from operations1.25 1.88 2.01 1.72 1.51 
Total distributions to stockholders(1.60)(1.68)(1.54)(1.52)(1.52)
Net asset value at end of period(1)$16.97 $17.32 $17.12 $16.65 $16.45 
Per share market value at end of period$16.89 $18.65 $15.58 $15.72 $16.49 
Total return based on market value(3)(0.86)%30.49 %8.91 %4.55 %26.39 %
Total return based on net asset value(4)5.20 %12.14 %12.10 %10.53 %9.15 %
Shares outstanding at end of period423 431 426 426 314 
Ratio/Supplemental Data:
Net assets at end of period$7,176 $7,467 $7,300 $7,098 $5,165 
Ratio of operating expenses to average net assets(5)(6)10.27 %9.92 %8.63 %9.45 %9.59 %
Ratio of net investment income to average net assets(5)(7)11.39 %11.01 %9.60 %7.65 %9.58 %
Portfolio turnover rate(5)40 %38 %54 %51 %39 %
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(1)The net assets used equals the total stockholders’ equity on the consolidated balance sheet.

(2)Weighted average basic per share data.

(3)For the year ended December 31, 2025, the total return based on market value equaled the decrease of the ending market value at December 31, 2025 of $20.23 per share from the ending market value at December 31, 2024 of $21.89 per share plus the declared and payable dividends of $1.92 per share for the year ended December 31, 2025, divided by the market value at December 31, 2024. For the year ended December 31, 2024, the total return based on market value equaled the increase of the ending market value at December 31, 2024 of $21.89 per share from the ending market value at December 31, 2023 of $20.03 per share plus the declared and payable dividends of $1.92 per share for the year ended December 31, 2024, divided by the market value at December 31, 2023. For the year ended December 31, 2023, the total return based on market value equaled the increase of the ending market value at December 31, 2023 of $20.03 per share from the ending market value at December 31, 2022 of $18.47 per share plus the declared and payable dividends of $1.92 per share for the year ended December 31, 2023, divided by the market value at December 31, 2022. For the year ended December 31, 2022, the total return based on market value equaled the decrease of the ending market value at December 31, 2022 of $18.47 per share from the ending market value at December 31, 2021 of $21.19 per share plus the declared and payable dividends of $1.87 per share for the year ended December 31, 2022, divided by the market value at December 31, 2021. For the year ended December 31, 2021, the total return based on market value equaled the increase of the ending market value at December 31, 2021 of $21.19 per share from the ending market value at December 31, 2020 of $16.89 per share plus the declared and payable dividends of $1.62 per share for the year ended December 31, 2021, divided by the market value at December 31, 2020. For the year ended December 31, 2020, the total return based on market value equaled the decrease of the ending market value at December 31, 2020 of $16.89 per share from the ending market value at December 31, 2019 of $18.65 per share plus the declared and payable dividends of $1.60 per share for the year ended December 31, 2020, divided by the market value at December 31, 2019. For the year ended December 31, 2019, the total return based on market value equaled the increase of the ending market value at December 31, 2019 of $18.65 per share from the ending market value at December 31, 2018 of $15.58 per share plus the declared and payable dividends of $1.68 per share for the year ended December 31, 2019, divided by the market value at December 31, 2018. For the year ended December 31, 2018, the total return based on market value equaled the decrease of the ending market value at December 31, 2018 of $15.58 per share from the ending market value at December 31, 2017 of $15.72 per share plus the declared and payable dividends of $1.54 per share for the year ended December 31, 2018, divided by the market value at December 31, 2017. For the year ended December 31, 2017, the total return based on market value equaled the decrease of the ending market value at December 31, 2017 of $15.72 per share from the ending market value at December 31, 2016 of $16.49 per share plus the declared and payable dividends of $1.52 per share for the year ended December 31, 2017, divided by the market value at December 31, 2016. For the year ended December 31, 2016, the total return based on market value equaled the increase of the ending market value at December 31, 2016 of $16.49 per share from the ending market value at December 31, 2015 of $14.25 per share plus the declared and payable dividends of $1.52 per share for the year ended December 31, 2016, divided by the market value at December 31, 2015. The Company’s performance changes over time and currently may be different than that shown. Past performance is no guarantee of future results.

(4)For the year ended December 31, 2025, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.92 per share for the year ended December 31, 2025, divided by the beginning net asset value for the period. For the year ended December 31, 2024, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.92 per share for the year ended December 31, 2024, divided by the beginning net asset value for the period. For the year ended December 31, 2023, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.92 per share for the year ended December 31, 2023, divided by the beginning net asset value for the period. For the year ended December 31, 2022, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.87 per share for the year ended December 31, 2022, divided by the beginning net asset value for the period. For the year ended December 31, 2021, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.62 per share for the year ended December 31, 2021, divided by the beginning net asset value for the period. For the year ended December 31, 2020, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.60 per share for the year ended December 31, 2020, divided by the beginning net asset value for the period. For the year ended December 31, 2019, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.68 per share for the year ended December 31, 2019, divided by
the beginning net asset value for the period. For the year ended December 31, 2018, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.54 per share for the year ended December 31, 2018, divided by the beginning net asset value for the period. For the year ended December 31, 2017, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.52 per share for the year ended December 31, 2017, divided by the beginning net asset value for the period. These calculations are adjusted for shares issued in connection with the dividend reinvestment plan, the issuance of common stock in connection with any equity offerings and the equity components of any convertible notes issued during the period. For the year ended December 31, 2016, the total return based on net asset value equaled the change in net asset value during the period plus the declared and payable dividends of $1.52 per share for the year ended December 31, 2016, divided by the beginning net asset value for the period. The Company’s performance changes over time and currently may be different than that shown. Past performance is no guarantee of future results.

(5)The ratios reflect an annualized amount.

(6)For the years ended December 31, 2025, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017 and 2016, the ratio of operating expenses to average net assets consisted of the following:
 For the Years Ended December 31,
20252024202320222021
Base management fee3.05 %3.03 %3.11 %3.27 %3.14 %
Income based fee and capital gains incentive fee, net of the fee waiver2.33 %3.08 %3.66 %1.61 %4.80 %
Income based fee and capital gains incentive fee, excluding the fee waiver2.33 %3.08 %3.66 %1.61 %4.80 %
Interest and credit facility fees5.69 %5.79 %5.60 %4.89 %4.61 %
Other operating expenses0.36 %0.36 %0.41 %0.42 %0.50 %
 For the Years Ended December 31,
20202019201820172016
Base management fee3.10 %2.78 %2.49 %2.57 %2.64 %
Income based fee and capital gains incentive fee, net of the fee waiver1.80 %2.23 %2.24 %2.18 %2.29 %
Income based fee and capital gains incentive fee, excluding the fee waiver1.80 %2.64 %2.79 %2.32 %2.29 %
Interest and credit facility fees4.54 %3.94 %3.33 %3.37 %3.58 %
Other operating expenses0.83 %0.97 %0.57 %1.33 %1.08 %

(7)The ratio of net investment income to average net assets excludes income taxes related to realized gains and losses.