Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Changes in Net Assets

v3.25.4
Consolidated Statements of Changes in Net Assets - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Balance as of beginning of period (in shares) 88,398,713    
Balance as of beginning of period $ 2,797,838 $ 2,477,399 $ 2,108,586
Public offering of common stock, net of offering costs 31,681 122,635 203,683
Share‑based compensation 21,440 18,793 16,520
Purchase of vested stock for employee payroll tax withholding $ (10,315) $ (7,335) $ (5,950)
Dividend reinvestment (in shares) 635,901 721,963 765,427
Dividend reinvestment $ 37,925 $ 35,701 $ 30,719
Amortization of directors’ deferred compensation 387 424 434
Issuance of restricted stock, net of forfeited shares 0 0 0
Reclassification for certain permanent book-to-tax differences 0 0 0
Net increase in net assets resulting from operations 493,398 508,080 428,447
Dividends to stockholders $ (378,461) $ (357,859) (305,040)
Balance as of ending of period (in shares) 89,834,849 88,398,713  
Balance as of ending of period $ 2,993,893 $ 2,797,838 $ 2,477,399
Common Stock      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Balance as of beginning of period (in shares) 88,400,391 84,833,002 78,506,816
Balance as of beginning of period $ 884 $ 848 $ 784
Public offering of common stock, net of offering costs (in shares) 547,471 2,497,833 5,159,479
Public offering of common stock, net of offering costs $ 5 $ 25 $ 52
Purchase of vested stock for employee payroll tax withholding (in shares) (182,350) (155,049) (151,058)
Purchase of vested stock for employee payroll tax withholding $ (2) $ (2) $ (1)
Dividend reinvestment (in shares) 635,901 721,963 765,427
Dividend reinvestment $ 7 $ 8 $ 8
Issuance of restricted stock, net of forfeited shares (in shares) 436,588 502,642 552,338
Issuance of restricted stock, net of forfeited shares $ 4 $ 5 $ 5
Balance as of ending of period (in shares) 89,838,001 88,400,391 84,833,002
Balance as of ending of period $ 898 $ 884 $ 848
Additional Paid-In Capital      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Balance as of beginning of period 2,394,492 2,270,549 2,030,531
Public offering of common stock, net of offering costs 31,676 122,610 203,631
Share‑based compensation 21,440 18,793 16,520
Purchase of vested stock for employee payroll tax withholding (10,313) (7,333) (5,949)
Dividend reinvestment 37,918 35,693 30,711
Amortization of directors’ deferred compensation 387 424 434
Issuance of restricted stock, net of forfeited shares (4) (5) (5)
Reclassification for certain permanent book-to-tax differences (18,743) (46,956) (5,947)
Dividends to stockholders 807 717 623
Balance as of ending of period 2,457,660 2,394,492 2,270,549
Total Undistributed Earnings      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Balance as of beginning of period 402,462 206,002 77,271
Reclassification for certain permanent book-to-tax differences 18,743 46,956 5,947
Net increase in net assets resulting from operations 493,398 508,080 428,447
Dividends to stockholders (379,268) (358,576) (305,663)
Balance as of ending of period $ 535,335 $ 402,462 $ 206,002