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Taxes and Distributions (Tables)
12 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Summary of Amounts Reclassified for Tax Purposes

The following amounts were reclassified for tax purposes ($ in thousands):

 

 

Years Ended September 30,

 

 

 

2024

 

 

2023

 

 

2022

 

Increase (Decrease) in paid-in capital

 

$

(2,800

)

 

$

(1,703

)

 

$

(25,577

)

Increase (Decrease) in accumulated net realized gain

 

 

(11,993

)

 

 

(1,494

)

 

 

18,347

 

Increase in undistributed net investment income

 

 

14,793

 

 

 

3,197

 

 

 

7,230

 

Summary of Reconciles Net (Decrease) Increase in Net Assets Resulting From Operations to Taxable Income

The following reconciles net (decrease) increase in net assets resulting from operations to taxable income ($ in thousands):

 

 

 

Years Ended September 30,

 

 

 

2024

 

 

2023

 

 

2022

 

Net increase (decrease) in net assets resulting from operations

 

$

48,852

 

 

$

(33,807

)

 

$

(24,740

)

Net realized (gain) loss on investments

 

 

33,646

 

 

 

156,757

 

 

 

(34,756

)

Net change in unrealized (appreciation) depreciation on investments and debt

 

 

(22,428

)

 

 

(57,417

)

 

 

103,439

 

Other book-to-tax differences

 

 

9,268

 

 

 

(6,006

)

 

 

9,490

 

Other non-deductible expenses

 

 

3,245

 

 

 

5,766

 

 

 

3,691

 

Taxable income before dividends paid deduction

 

$

72,583

 

 

$

65,293

 

 

$

57,124

 

 

Summary of undistributed taxable income on a tax basis and reconciliation to accumulated deficit on a book basis

The components of undistributed taxable income on a tax basis and reconciliation to accumulated deficit on a book basis are as follows:

 

 

 

Years Ended September 30,

 

 

 

2024

 

 

2023

 

 

2022

 

Undistributed net investment income – tax basis

 

$

65,962

 

 

$

62,710

 

 

$

46,283

 

Short-term realized loss carried forward

 

 

(3,397

)

 

 

(1,699

)

 

 

(2,065

)

Long-term realized loss carried forward

 

 

(287,545

)

 

$

(379,074

)

 

$

(103,119

)

Distributions payable and other book to tax differences

 

 

(37,435

)

 

 

83,860

 

 

 

(37,103

)

Net unrealized appreciation (depreciation) on investments and debt

 

 

12,290

 

 

 

(10,141

)

 

 

(66,665

)

Total accumulated deficit – book basis

 

$

(250,125

)

 

$

(244,344

)

 

$

(162,669

)

Summary of Tax Characteristics of Distributions Declared

The tax characteristics of distributions declared are as follows:

 

 

 

Years Ended September 30,

 

 

 

2024

 

 

2023

 

 

2022

 

Ordinary income (including short-term gains, if any)

 

$

57,420

 

 

$

49,571

 

 

$

36,590

 

Long-term capital gain

 

 

 

 

 

 

 

 

 

Total distributions

 

$

57,420

 

 

$

49,571

 

 

$

36,590

 

Total distributions declared per share

 

$

0.88

 

 

$

0.76

 

 

$

0.56