Annual report pursuant to Section 13 and 15(d)

DEBT - SPV Facility Balance Sheet (Details)

v3.22.4
DEBT - SPV Facility Balance Sheet (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
ASSETS                    
Investments at fair value: $ 4,102,177 [1],[2] $ 3,561,831 [3],[4]                
Investment, cost 3,773,752 [2],[5] 3,259,246 [4],[6]                
Cash and cash equivalents 49,121 32,629                
Interest and dividend receivable and other assets 82,731 56,488                
Receivable for securities sold 381 35,125                
Deferred financing costs (net of accumulated amortization of $141 as of December 31, 2022) 7,475 4,217                
Deferred financing costs, accumulated amortization 10,603 9,462                
Total assets 4,241,885 3,690,290                
LIABILITIES                    
Debt 1,999,102 1,796,056                
Accounts payable and other liabilities 52,092 40,469                
Interest payable 16,580 14,926                
Total liabilities 2,133,299 1,901,444                
Commitments and contingencies (Note K)                
NET ASSETS                    
Contributed capital 2,030,531 1,736,346                
Total undistributed earnings 77,271 51,793                
Total net assets 2,108,586 1,788,846 $ 1,514,767 $ 1,536,390 $ 1,476,049 $ 1,380,368 $ 1,201,481 $ 1,070,894 $ 939,982 $ 792,533
Total liabilities and net assets 4,241,885 3,690,290                
MSCC Funding I, LLC                    
ASSETS                    
Cash and cash equivalents 10,838                  
Interest and dividend receivable and other assets 2,828                  
Accounts receivable from MSCC and its subsidiaries 556                  
Receivable for securities sold 369                  
Deferred financing costs (net of accumulated amortization of $141 as of December 31, 2022) 2,630                  
Deferred financing costs, accumulated amortization 141                  
Total assets 333,728                  
LIABILITIES                    
Debt 200,000                  
Accounts payable and other liabilities 112                  
Interest payable 1,272                  
Total liabilities 201,384                  
Commitments and contingencies (Note K)                  
NET ASSETS                    
Contributed capital 126,010                  
Total undistributed earnings 6,334                  
Total net assets 132,344                  
Total liabilities and net assets 333,728                  
Non‑Control/Non‑Affiliate investments                    
ASSETS                    
Investments at fair value: 1,780,646 [1],[7] 1,523,360 [3],[8]                
Investment, cost 1,867,414 [5],[7] $ 1,573,110 [6],[8]                
Non‑Control/Non‑Affiliate investments | MSCC Funding I, LLC                    
ASSETS                    
Investments at fair value: 316,507                  
Investment, cost $ 314,752                  
[1] Investment fair value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
[2] All investments are Lower Middle Market portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Lower Middle Market portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Company’s Corporate Facility or SPV Facility (each as defined in Note B.5. — Deferred Financing Costs, and together the “Credit Facilities”) or in support of the SBA-guaranteed debentures issued by the Funds.
[3] Investment fair value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for further discussion.
[4] All investments are Lower Middle Market portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Lower Middle Market portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Company’s Corporate Facility or in support of the SBA-guaranteed debentures issued by the Funds.
[5] Principal is net of repayments. Cost is net of repayments and accumulated unearned income. Negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
[6] Principal is net of repayments. Cost is net of repayments and accumulated unearned income.
[7] Non-Control/Non-Affiliate investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments.
[8] Non-Control/Non-Affiliate investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments.