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):
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Years Ended September 30, |
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2024 |
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|
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):
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Years Ended September 30, |
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2024 |
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2023 |
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|
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:
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Years Ended September 30, |
|
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|
2024 |
|
|
2023 |
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|
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:
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Years Ended September 30, |
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|
2024 |
|
|
2023 |
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|
2022 |
|
Ordinary income (including short-term gains, if any) |
|
$ |
57,420 |
|
|
$ |
49,571 |
|
|
$ |
36,590 |
|
Long-term capital gain |
|
|
— |
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|
— |
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|
— |
|
Total distributions |
|
$ |
57,420 |
|
|
$ |
49,571 |
|
|
$ |
36,590 |
|
Total distributions declared per share |
|
$ |
0.88 |
|
|
$ |
0.76 |
|
|
$ |
0.56 |
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