Condensed Quarterly Financial Data (Unaudited) (Notes)

12 Months Ended

Dec. 31, 2015

Condensed Quarterly Financial Data (Unaudited)

Detailed below is unaudited quarterly financial data for the years ended December 31, 2015 and 2014.



	Three Month Period Ended
	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015
(In thousands except per share amounts)
INVESTMENT INCOME
Interest income	$	26,513		$	25,739		$	26,440		$	23,091
Other income	293			1,023			565			932
Total investment income	26,806			26,762			27,005			24,023
EXPENSES
Base management fee	2,952			2,920			2,849			2,772
Interest expense	2,986			2,867			3,073			3,186
Other investment related expenses	1,202			1,163			1,473			1,774
Other operating expenses	2,199			2,082			2,087			2,835
Total expenses	9,339			9,032			9,482			10,567
NET INVESTMENT INCOME	17,467			17,730			17,523			13,456
NET REALIZED AND CHANGE IN NET UNREALIZED GAIN (LOSS) ON INVESTMENTS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY TRANSACTIONS/TRANSLATION
Net realized gain (loss) on investments, financial derivatives, and foreign currency transactions	10,429			761			8,280			1,483
Change in net unrealized gain (loss) on investments, financial derivatives, and foreign currency translation	(8,479		)	(5,268		)	(21,876		)	(13,077		)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY	1,950			(4,507		)	(13,596		)	(11,594		)
NET INCREASE IN EQUITY RESULTING FROM OPERATIONS	19,417			13,223			3,927			1,862
LESS: NET INCREASE IN EQUITY RESULTING FROM OPERATIONS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	156			71			31			82
NET INCREASE IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS	$	19,261		$	13,152		$	3,896		$	1,780
NET INCREASE IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS PER SHARE:
Basic and Diluted	$	0.57		$	0.39		$	0.12		$	0.05



	Three Month Period Ended
	March 31, 2014			June 30, 2014		September 30, 2014			December 31, 2014
(In thousands except per share amounts)
INVESTMENT INCOME
Interest income	$	21,496		$	20,996	$	22,353		$	28,688
Other income	—			—		168			150
Total investment income	21,496			20,996		22,521			28,838
EXPENSES
Base management fee	2,364			2,368		3,056			2,963
Incentive fee	—			—		1,400			—
Interest expense	2,627			2,416		2,179			2,705
Other investment related expenses	430			1,232		1,217			1,810
Other operating expenses	1,994			1,974		2,070			2,295
Total expenses	7,415			7,990		9,922			9,773
NET INVESTMENT INCOME	14,081			13,006		12,599			19,065
NET REALIZED AND CHANGE IN NET UNREALIZED GAIN (LOSS) ON INVESTMENTS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY TRANSACTIONS/TRANSLATION
Net realized gain (loss) on investments, financial derivatives, and foreign currency transactions	11,408			3,684		(8,483		)	(2,447		)
Change in net unrealized gain (loss) on investments, financial derivatives, and foreign currency translation	(2,651		)	4,514		9,031			(13,858		)
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS, FINANCIAL DERIVATIVES, AND FOREIGN CURRENCY	8,757			8,198		548			(16,305		)
NET INCREASE IN EQUITY RESULTING FROM OPERATIONS	22,838			21,204		13,147			2,760
LESS: NET INCREASE IN EQUITY RESULTING FROM OPERATIONS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	203			257		199			123
NET INCREASE IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS	$	22,635		$	20,947	$	12,948		$	2,637
NET INCREASE IN SHAREHOLDERS' EQUITY RESULTING FROM OPERATIONS PER SHARE:
Basic and Diluted⁽¹⁾	$	0.88		$	0.81	$	0.46		$	0.08


(1)	For the year ended December 31, 2014 the sum of EPS for the four quarters of the year does not equal EPS as calculated for the entire year (see Note 11) as a result of issuances of common shares and LTIP units during the year, as EPS is calculated using average shares outstanding during the period.