Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
Coll freshman Bad
|
New words:
adapt, afforded, aircraft, artificial, AUM, authenticating, Care, Clinical, Computershare, concluded, depositary, durability, durable, equivalent, expedient, Fargo, heavily, HFS, Ideal, intelligence, KWOL, learning, Loparex, machine, match, Matterhorn, merged, Model, Ohio, PetVet, PHM, Pluralsight, practical, prolonged, pronouncement, reconciliation, redeployed, registrar, removal, sit, stayed, surviving, tertiary, title, transportation, Tripartite, triple, unanimously, undeployed, unwind, unwinding, unwound, upper
Removed:
bankruptcy, beverage, breach, Buyer, ceased, committed, complied, Core, Denali, driver, extending, final, food, fundamental, governing, Group, matured, misrepresentation, moderation, nonpayment, oriented, oversee, Packaging, pari, passu, PLI, profitability, ranked, semiannually, Summit, Swipe, unsubordinated, Vincit, Zendesk
Financial report summary
?Management Discussion
- Net increase (decrease) in net assets resulting from operations can vary from period to period as a result of various factors, including the level of new investment commitments, expenses, the recognition of realized gains and losses and changes in unrealized appreciation and depreciation on the investment portfolio. For the period ended March 31, 2024, our net asset value per share increased, primarily driven by earnings in excess of our dividends paid.
- Investment income increased to $399.6 million for the three months ended March 31, 2024 from $377.6 million for the same period in prior year primarily due to an increase in interest income earned from prepayment fees and accelerated amortization of upfront fees from unscheduled paydowns (which are non-recurring in nature), partially offset by a decrease in our debt investments portfolio at par from $11.7 billion as of March 31, 2023 to $10.6 billion as of March 31, 2024. These fees increased to $10.6 million for the three months ended March 31, 2024 from $0.7 million for the same period in prior year due to an increase in repayment activity for the period. For the three months ended March 31, 2024 and 2023, payment-in-kind income represented 12.9% and 14.0% of investment income, respectively. Dividend income increased to $50.1 million from $39.8 million in the prior period, primarily due to an increase in dividends earned from our controlled, affiliated and non-controlled, affiliated equity investments. Other income increased period-over-period due to an increase in incremental fee income, which are fees that are generally available to us as a result of closing investments and normally paid at the time of closing. We expect that investment income will vary based on a variety of factors including the pace of our originations and repayments.
- Under the terms of the Administration Agreement, we reimburse the Adviser for services performed for us. In addition, pursuant to the terms of the Administration Agreement, the Adviser may delegate its obligations under the Administration Agreement to an affiliate or to a third party and we reimburse the Adviser for any services performed for us by such affiliate or third party.