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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Sep. 30, 2023
Cash flows from operating activities          
Net increase (decrease) in net assets resulting from operations $ 9,252 $ 72,983 $ 178,586 $ 157,067  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Amortization of deferred debt issuance costs 2,214 1,937 6,869 5,362  
Accretion of discounts and amortization of premiums on investments     1,267 454  
Accretion of discounts and amortization of premiums on issued debt securities     (10,996) (9,994)  
Net realized (gain) loss on investments     49,505 46,555  
Net realized (gain) loss on foreign currency transactions 6,206 (1,141) 1,560 28  
Net realized (gain) loss on forward currency contracts (624) (2,021) (624) (3,192)  
Net change in unrealized (appreciation) depreciation on investments     35,609 5,089  
Net change in unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies (3,709) (3,399) 260 (21,857)  
Proceeds from (fundings of) revolving loans, net     (4,658) (2,449)  
Fundings of investments     (554,521) (583,847)  
Proceeds from principal payments and sales of portfolio investments     867,233 550,843  
Proceeds from settlements of forward currency contracts     1,123 3,192  
Payment-in-kind interest capitalized (11,245) (10,405) (36,551) (27,660)  
Non-cash dividends capitalized     (13,890) (10,767)  
Proceeds from non-cash dividends     47 0  
Cash acquired in GBDC 3 Merger     53,885 0  
Changes in operating assets and liabilities:          
Cash collateral held at broker for forward currency contracts     (11,670) 0  
Interest receivable     8,374 (9,139)  
Receivable for investments sold     0 0  
Other assets     (20,191) 340  
Interest payable     23,750 5,791  
Management and incentive fees payable     (29,853) 4,424  
Accrued trustee fees     155 (72)  
Payable for investments purchased     0 250  
Accounts payable and other liabilities     (2,730) (1,497)  
Net cash provided by (used in) operating activities     543,942 131,247  
Cash flows from financing activities          
Borrowings on debt     1,966,609 513,927  
Repayments of debt     (1,971,861) (463,765)  
Capitalized debt issuance costs     (13,488) (5,368)  
Purchases of common stock (Note 11)     0 (16,791)  
Distributions paid [1]     (199,173) (135,311)  
Purchases of common stock for dividend reinvestment plan     0 (33,547)  
Net cash provided by (used in) financing activities     (217,913) (140,855)  
Net change in cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies     326,029 (9,608)  
Effect of foreign currency exchange rates     (1,521) 93  
Cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies, beginning of period     140,206 [2] 180,553 $ 180,553
Cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies, end of period 464,714 [2] 171,038 464,714 [2] 171,038 140,206 [2]
Supplemental disclosure of cash flow information:          
Cash paid during the period for interest     110,623 98,381  
Distributions declared for the period 243,455 168,858 243,455 168,858  
Supplemental disclosure of non-cash financing activities:          
Stock issued in connection with dividend reinvestment plan     44,282 0  
Noncash assets acquired:          
Investments, at cost [3]     2,623,381 0  
Interest receivable [3]     32,204 0  
Unrealized appreciation on forward currency contracts [3]     6,334 0  
Receivable for investments sold [3]     8,922 0  
Other assets [3]     154 0  
Total noncash assets purchased [3]     2,670,995 0  
Liabilities assumed:          
Debt [3]     1,211,174 0  
Interest payable [3]     12,671 0  
Distributions payable [3]     9,516 0  
Management and incentive fees payable [3]     8,921 0  
Accrued trustee fees [3]     8 0  
Accounts payable and other liabilities [3]     4,040 0  
Total liabilities assumed [3]     1,246,330 0  
Issuance of common stock [3]     1,526,351 0  
Merger costs capitalized into purchase price [3]     3,867 0  
Reconciliation of cash and cash equivalents, foreign currencies and restricted cash and cash equivalents and restricted foreign currencies          
Cash and cash equivalents 141,186   141,186   65,617
Foreign currencies (cost of $6,381 and $4,540, respectively) 6,327   6,327   4,208
Restricted cash and cash equivalents 316,484   316,484   70,381
Restricted foreign currencies (cost of $717 and $0, respectively) 717 0 717 0 0
Total cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies shown in the Consolidated Statements of Cash Flows(3) 464,714 [2] 171,038 464,714 [2] 171,038 $ 140,206 [2]
Interest rate swaps          
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Net change in unrealized (appreciation) depreciation on derivatives     2,992 0  
Forward currency contracts          
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:          
Net realized (gain) loss on forward currency contracts (624) (2,021) (624) (3,192)  
Net change in unrealized (appreciation) depreciation on derivatives $ (2,972) $ 5,431 $ (1,589) $ 22,326  
[1] Includes payment of $9,516 distribution payable to GBDC 3 shareholders that was assumed in the GBDC 3 Merger (defined in Note 2).
[2] See “Note 2. Significant Accounting Policies and Recent Accounting Updates” for a description of cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies.
[3] Refer to Note 13 for more information related to our acquisition of GBDC 3.