Blue Owl Capital Corporation Reports Full Year Results and Fourth Quarter Net Investment Income Per Share of $0.47 and Net Asset Value Per Share of $15.26
Blue Owl Capital (OBDC) reported its Q4 and full-year 2024 results, achieving a Q4 net investment income of $0.47 per share and NAV of $15.26. The company declared total Q4 dividends of $0.42 per share, representing an 11.0% annualized dividend yield. New investment commitments for Q4 totaled $1.7 billion, with $1.6 billion in sales and repayments.
OBDC completed its merger with OBDE on January 13, 2025, becoming the second-largest externally-managed, publicly traded BDC with over $18 billion in total assets. The company plans to implement a $750 million ATM program. As of December 31, 2024, OBDC had investments in 227 portfolio companies across 30 industries, with a total portfolio value of $13.2 billion.
For the full year 2024, investment income increased to $1.60 billion from $1.58 billion in 2023, while total expenses rose to $844.1 million from $815.7 million. The company maintained strong liquidity with $505.7 million in cash and restricted cash, and $7.6 billion in total principal value of debt outstanding.
Blue Owl Capital (OBDC) ha riportato i risultati del quarto trimestre e dell'intero anno 2024, raggiungendo un reddito da investimenti netto nel Q4 di $0.47 per azione e un NAV di $15.26. L'azienda ha dichiarato un totale di dividendi per il Q4 di $0.42 per azione, che rappresenta un rendimento da dividendi annualizzato dell'11.0%. I nuovi impegni di investimento per il Q4 sono ammontati a $1.7 miliardi, con $1.6 miliardi in vendite e rimborsi.
OBDC ha completato la sua fusione con OBDE il 13 gennaio 2025, diventando il secondo BDC pubblicamente scambiato e gestito esternamente più grande, con oltre $18 miliardi in attivi totali. L'azienda prevede di implementare un programma ATM da $750 milioni. Al 31 dicembre 2024, OBDC aveva investimenti in 227 società in portafoglio in 30 settori, con un valore totale del portafoglio di $13.2 miliardi.
Per l'intero anno 2024, il reddito da investimenti è aumentato a $1.60 miliardi rispetto a $1.58 miliardi nel 2023, mentre le spese totali sono aumentate a $844.1 milioni da $815.7 milioni. L'azienda ha mantenuto una forte liquidità con $505.7 milioni in contante e contante vincolato, e $7.6 miliardi in valore principale totale di debito in essere.
Blue Owl Capital (OBDC) informó sus resultados del cuarto trimestre y del año completo 2024, logrando un ingreso neto por inversiones en el Q4 de $0.47 por acción y un NAV de $15.26. La compañía declaró un total de dividendos del Q4 de $0.42 por acción, lo que representa un rendimiento de dividendo anualizado del 11.0%. Los nuevos compromisos de inversión para el Q4 totalizaron $1.7 mil millones, con $1.6 mil millones en ventas y reembolsos.
OBDC completó su fusión con OBDE el 13 de enero de 2025, convirtiéndose en el segundo BDC administrado externamente que cotiza en bolsa más grande, con más de $18 mil millones en activos totales. La compañía planea implementar un programa ATM de $750 millones. Al 31 de diciembre de 2024, OBDC tenía inversiones en 227 empresas de cartera en 30 industrias, con un valor total de cartera de $13.2 mil millones.
Para el año completo 2024, el ingreso por inversiones aumentó a $1.60 mil millones desde $1.58 mil millones en 2023, mientras que los gastos totales aumentaron a $844.1 millones desde $815.7 millones. La compañía mantuvo una sólida liquidez con $505.7 millones en efectivo y efectivo restringido, y $7.6 mil millones en valor principal total de deuda pendiente.
Blue Owl Capital (OBDC)는 2024년 4분기 및 전체 연도 결과를 보고하며, 4분기 순 투자 수익이 주당 $0.47, NAV가 $15.26에 달했다고 발표했습니다. 회사는 4분기 총 배당금을 주당 $0.42로 선언했으며, 이는 연간 배당 수익률 11.0%를 나타냅니다. 4분기 신규 투자 약속은 총 $1.7억 달러였으며, 이 중 $1.6억 달러는 판매 및 상환으로 이루어졌습니다.
OBDC는 2025년 1월 13일 OBDE와의 합병을 완료하여, 총 자산이 180억 달러 이상인 외부 관리 공개 거래 BDC 중 두 번째로 큰 회사가 되었습니다. 회사는 $7.5억 달러 규모의 ATM 프로그램을 시행할 계획입니다. 2024년 12월 31일 기준으로 OBDC는 30개 산업에 걸쳐 227개 포트폴리오 회사에 투자하고 있으며, 포트폴리오 총 가치는 $132억 달러입니다.
2024년 전체 연도 동안 투자 수익은 2023년의 $1.58억 달러에서 $1.60억 달러로 증가했으며, 총 비용은 $815.7백만 달러에서 $844.1백만 달러로 증가했습니다. 회사는 $505.7백만 달러의 현금 및 제한된 현금, $76억 달러의 총 원금 부채로 강력한 유동성을 유지했습니다.
Blue Owl Capital (OBDC) a publié ses résultats du quatrième trimestre et de l'année entière 2024, atteignant un revenu net d'investissement de 0,47 $ par action au T4 et une NAV de 15,26 $. La société a déclaré un total de dividendes pour le T4 de 0,42 $ par action, représentant un rendement de dividende annualisé de 11,0 %. Les nouveaux engagements d'investissement pour le T4 ont totalisé 1,7 milliard de dollars, avec 1,6 milliard de dollars en ventes et remboursements.
OBDC a finalisé sa fusion avec OBDE le 13 janvier 2025, devenant le deuxième BDC négocié en bourse géré de manière externe, avec plus de 18 milliards de dollars d'actifs totaux. La société prévoit de mettre en œuvre un programme ATM de 750 millions de dollars. Au 31 décembre 2024, OBDC avait investi dans 227 entreprises de portefeuille dans 30 secteurs, avec une valeur totale du portefeuille de 13,2 milliards de dollars.
Pour l'année entière 2024, le revenu d'investissement a augmenté à 1,60 milliard de dollars, contre 1,58 milliard de dollars en 2023, tandis que les dépenses totales ont augmenté à 844,1 millions de dollars, contre 815,7 millions de dollars. La société a maintenu une forte liquidité avec 505,7 millions de dollars en espèces et en espèces restreintes, et 7,6 milliards de dollars en valeur principale totale de la dette en cours.
Blue Owl Capital (OBDC) hat seine Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und einen Nettokapitalertrag im Q4 von $0.47 pro Aktie sowie einen NAV von $15.26 erzielt. Das Unternehmen erklärte eine Gesamtdividende für das Q4 von $0.42 pro Aktie, was einer annualisierten Dividendenrendite von 11.0% entspricht. Die neuen Investitionsverpflichtungen für das Q4 beliefen sich auf insgesamt $1.7 Milliarden, wobei $1.6 Milliarden aus Verkäufen und Rückzahlungen stammten.
OBDC hat am 13. Januar 2025 seine Fusion mit OBDE abgeschlossen und ist damit der zweitgrößte extern verwaltete, börsennotierte BDC mit über $18 Milliarden an Gesamtkapital. Das Unternehmen plant die Einführung eines ATM-Programms über $750 Millionen. Zum 31. Dezember 2024 hatte OBDC Investitionen in 227 Portfoliounternehmen in 30 Branchen, mit einem Gesamtportfoliowert von $13.2 Milliarden.
Für das gesamte Jahr 2024 stieg das Investitions Einkommen auf $1.60 Milliarden von $1.58 Milliarden im Jahr 2023, während die Gesamtausgaben auf $844.1 Millionen von $815.7 Millionen anstiegen. Das Unternehmen hielt eine starke Liquidität mit $505.7 Millionen in Bargeld und eingeschränktem Bargeld sowie $7.6 Milliarden an ausstehenden Hauptschulden.
- Q4 NII of $0.47 per share exceeded regular dividend by 27%
- Strong 12.4% annualized return on equity
- Decreased non-accrual investments to 0.4% of portfolio at fair value
- Completed merger with OBDE, becoming second-largest externally-managed BDC
- Investment income increased to $1.60 billion in 2024 from $1.58 billion in 2023
- NAV per share slightly decreased to $15.26 from $15.28 in Q3 2024
- Q4 investment income decreased to $394.4M from $411.2M year-over-year
- Total expenses increased to $844.1M in 2024 from $815.7M in 2023
Insights
The Q4 2024 results reveal OBDC's strengthening market position and operational excellence. The completion of the OBDE merger creates significant strategic advantages, establishing OBDC as the second-largest externally-managed BDC with $18 billion in total assets. This enhanced scale provides improved deal sourcing capabilities and potential cost synergies.
Portfolio quality metrics are particularly impressive, with non-accruals decreasing to
The company's liquidity position remains strong with
The dividend framework, comprising a
FOURTH QUARTER 2024 HIGHLIGHTS
- Fourth quarter net investment income ("NII") per share of
$0.47 27% - Based on OBDC's supplemental dividend framework, the Board of Directors (the "Board") declared a fourth quarter supplemental dividend of
$0.05 - Total dividends for the fourth quarter were
$0.42 11.0% based on fourth quarter net asset value ("NAV") per share - NAV per share of
$15.26 $15.28 - New investment commitments for the fourth quarter totaled
$1.7 billion $1.6 billion $1.2 billion $1.1 billion 11.1% at fair value - Investments on non-accrual decreased to
0.4% of the portfolio at fair value, as compared with0.6% as of September 30, 2024
"Our fourth quarter results concluded another strong year for OBDC, delivering a
Merger Close
Subsequent to quarter-end, on January 13, 2025, OBDC closed the previously announced merger with Blue Owl Capital Corporation III ("OBDE"), with OBDC as the surviving company. This merger now makes OBDC the second largest externally-managed, publicly traded BDC by total assets with over
At-the-Market Program
The Company will enter into an at-the-market ("ATM") program under which it may issue up to
Dividend Declarations
The Company's Board declared a first quarter 2025 regular dividend of
The Board also declared a fourth quarter 2024 supplemental dividend of
SELECT FINANCIAL HIGHLIGHTS
As of and for the three months ended | |||
($ in thousands, except per share amounts) | December 31, | September 30, | December 31, |
Net investment income per share | $ 0.47 | $ 0.47 | $ 0.51 |
Net realized and unrealized gains (and losses) per share | $ (0.08) | $ (0.13) | $ (0.03) |
Net income per share | $ 0.40 | $ 0.35 | $ 0.48 |
Base dividend declared from net investment income per share | $ 0.37 | $ 0.37 | $ 0.35 |
Supplemental dividend declared from net investment income per share | $ 0.05 | $ 0.05 | $ 0.08 |
Total investments at fair value | $ 13,194,545 | $ 13,447,536 | $ 12,713,348 |
Total debt outstanding | $ 7,457,702 | $ 7,741,075 | $ 7,077,088 |
Net assets | $ 5,952,841 | $ 5,961,849 | $ 6,021,393 |
Net asset value per share | $ 15.26 | $ 15.28 | $ 15.45 |
Net debt-to-equity | 1.19x | 1.23x | 1.09x |
PORTFOLIO COMPOSITION
As of December 31, 2024, the Company had investments in 227 portfolio companies across 30 industries, with an aggregate portfolio size of
December 31, 2024 | September 30, 2024 | |||
($ in thousands) | Fair Value | % of Total | Fair Value | % of Total |
Portfolio composition: | ||||
First-lien senior secured debt investments | $ 9,974,880 | 75.6 % | $ 10,200,136 | 75.9 % |
Second-lien senior secured debt investments | 706,800 | 5.4 % | 731,204 | 5.4 % |
Unsecured debt investments | 301,956 | 2.3 % | 307,164 | 2.3 % |
Preferred equity investments | 371,744 | 2.8 % | 389,920 | 2.9 % |
Common equity investments | 1,543,689 | 11.7 % | 1,422,765 | 10.6 % |
Joint ventures | 295,476 | 2.2 % | 396,347 | 2.9 % |
Total investments | $ 13,194,545 | $ 13,447,536 | ||
December 31, 2024 | September 30, 2024 | |
Number of portfolio companies | 227 | 219 |
Percentage of debt investments at floating rates | 96.4 % | 96.3 % |
Percentage of senior secured debt investments | 81.0 % | 81.3 % |
Weighted average spread over base rate of all floating rate debt investments | 6.0 % | 6.2 % |
Weighted average total yield of accruing debt and income-producing securities at fair value | 11.1 % | 11.5 % |
Weighted average total yield of accruing debt and income-producing securities at cost | 11.2 % | 11.6 % |
Percentage of investments on non-accrual of the portfolio at fair value | 0.4 % | 0.6 % |
PORTFOLIO AND INVESTMENT ACTIVITY
Full Year
For the full year ended December 31, 2024, new investment commitments totaled
For the full year ended December 31, 2024, the principal amount of new investments funded was
Fourth Quarter
For the three months ended December 31, 2024, new investment commitments totaled
For the three months ended December 31, 2024, the principal amount of new investments funded was
For the Years Ended December 31, | ||||||
($ in thousands) | 2024 | 2023 | 2022 | |||
New investment commitments | ||||||
Gross originations | $ 7,384,171 | $ 2,165,911 | $ 1,997,087 | |||
Less: Sell downs | (53,334) | (10,803) | (224,665) | |||
Total new investment commitments | $ 7,330,837 | $ 2,155,108 | $ 1,772,422 | |||
Principal amount of investments funded: | ||||||
First-lien senior secured debt investments | $ 5,102,264 | $ 1,523,503 | $ 788,718 | |||
Second-lien senior secured debt investments | 30,000 | — | 6,883 | |||
Unsecured debt investments | 132,135 | — | 90,451 | |||
Preferred equity investments | 3,079 | 36,377 | 90,110 | |||
Common equity investments | 324,269 | 86,457 | 131,777 | |||
Joint ventures(1) | 337,596 | 34,125 | 69,125 | |||
Total principal amount of investments funded | $ 5,929,343 | $ 1,680,462 | $ 1,177,064 | |||
Principal amount of investments sold or repaid: | ||||||
First-lien senior secured debt investments | $ (3,577,170) | $ (2,069,540) | $ (1,116,583) | |||
Second-lien senior secured debt investments | (1,026,330) | (97,713) | (29,800) | |||
Unsecured debt investments | (152,427) | (193) | (31,427) | |||
Preferred equity investments | (61,575) | (6,952) | (22,843) | |||
Common equity investments | (73,268) | (195) | (7,350) | |||
Joint ventures(1) | (191,151) | — | — | |||
Total principal amount of investments sold or repaid | $ (5,081,921) | $ (2,174,593) | $ (1,208,003) | |||
Number of new investment commitments in new portfolio companies(2) | 93 | 32 | 52 | |||
Average new investment commitment amount in new portfolio companies | $ 56,012 | $ 53,397 | $ 22,757 | |||
Weighted average term for new debt investment commitments (in years) | 5.4 | 5.6 | 5.6 | |||
Percentage of new debt investment commitments at floating rates | 98.1 % | 96.2 % | 95.1 % | |||
Percentage of new debt investment commitments at fixed rates | 1.9 % | 3.8 % | 4.9 % | |||
Weighted average interest rate of new debt investment commitments(3) | 9.7 % | 11.7 % | 10.4 % | |||
Weighted average spread over applicable base rate of new floating rate debt investment commitments | 5.3 % | 6.3 % | 6.9 % | |||
________________ | |
(1) | This was disclosed as "Investment funds and vehicles" as of December 31, 2022. |
(2) | Number of new investment commitments represents commitments to a particular portfolio company. |
(3) | For the years ended December 31, 2024, 2023 and 2022, assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was |
For the Three Months Ended | ||
($ in thousands) | December 31, 2024 | September 30, 2024 |
New investment commitments | ||
Gross originations | $ 1,695,507 | $ 1,151,668 |
Less: Sell downs | (15,834) | — |
Total new investment commitments | $ 1,679,673 | $ 1,151,668 |
Principal amount of investments funded: | ||
First-lien senior secured debt investments | $ 1,114,927 | $ 1,044,951 |
Second-lien senior secured debt investments | 20,000 | — |
Unsecured debt investments | — | — |
Preferred equity investments | 366 | 1,097 |
Common equity investments | 215,476 | 13,318 |
Joint ventures | 271,970 | 21,437 |
Total principal amount of investments funded | $ 1,622,739 | $ 1,080,803 |
Principal amount of investments sold or repaid: | ||
First-lien senior secured debt investments | $ (1,265,281) | $ (1,027,432) |
Second-lien senior secured debt investments | (34,500) | (65,812) |
Unsecured debt investments | (5,450) | — |
Preferred equity investments | (9,521) | (21,360) |
Common equity investments | (73,253) | (15) |
Joint ventures | (191,151) | — |
Total principal amount of investments sold or repaid | $ (1,579,156) | $ (1,114,619) |
Number of new investment commitments in new portfolio companies(1) | 27 | 23 |
Average new investment commitment amount in new portfolio companies | $ 44,561 | $ 42,251 |
Weighted average term for new debt investment commitments (in years) | 5.3 | 4.4 |
Percentage of new debt investment commitments at floating rates | 99.4 % | 98.8 % |
Percentage of new debt investment commitments at fixed rates | 0.6 % | 1.2 % |
Weighted average interest rate of new debt investment commitments(2) | 9.5 % | 9.7 % |
Weighted average spread over applicable base rate of new floating rate debt investment commitments | 5.2 % | 5.1 % |
________________ | |
(1) | Number of new investment commitments represents commitments to a particular portfolio company. |
(2) | For the three months ended December 31, 2024 and September 30, 2024 assumes each floating rate commitment is subject to the greater of the interest rate floor (if applicable) or 3-month SOFR, which was |
RESULTS OF OPERATIONS FOR THE FULL YEAR AND QUARTER ENDED DECEMBER 31, 2024
Investment Income
Investment income increased to
Investment income decreased to
Expenses
Total expenses increased to
Total expenses increased to
Liquidity and Capital Resources
As of December 31, 2024, the Company had
CONFERENCE CALL AND WEBCAST INFORMATION
Conference Call Information:
The conference call will be broadcast live on February 20, 2025 at 10:00 a.m. Eastern Time on the Events section of OBDC's website at www.blueowlcapitalcorporation.com. Please visit the website to test your connection before the webcast.
Participants are also invited to access the conference call by dialing one of the following numbers:
- Domestic: (877) 737-7048
- International: +1 (201) 689-8523
All callers will need to reference "Blue Owl Capital Corporation" once connected with the operator. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected.
Replay Information:
An archived replay will be available for 14 days via a webcast link located on the Events section of OBDC's website, and via the dial-in numbers listed below:
- Domestic: (877) 660-6853
- International: +1 (201) 612-7415
- Conference ID: 13750520
ABOUT BLUE OWL CAPITAL CORPORATION
Blue Owl Capital Corporation (NYSE: OBDC) is a specialty finance company focused on lending to
Certain information contained herein may constitute "forward-looking statements" that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about OBDC, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as "anticipates," "expects," "intends," "plans," "will," "may," "continue," "believes," "seeks," "estimates," "would," "could," "should," "targets," "projects," "outlook," "potential," "predicts" and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond OBDC's control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in OBDC's filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which OBDC makes them. OBDC does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
INVESTOR CONTACTS
Investor Contact:
BDC Investor Relations
Michael Mosticchio
credit-ir@blueowl.com
Media Contact:
Prosek Partners
Josh
pro-blueowl@prosek.com
FINANCIAL HIGHLIGHTS | |||
For the Three Months Ended | |||
($ in thousands, except per share amounts) | December 31, | September 30, | December 31, |
Investments at Fair Value | $ 13,194,545 | $ 13,447,536 | $ 12,713,348 |
Total Assets | $ 13,865,564 | $ 14,090,780 | $ 13,511,396 |
Net Asset Value Per Share | $ 15.26 | $ 15.28 | $ 15.45 |
Investment Income | $ 394,392 | $ 406,029 | $ 411,227 |
Net Investment Income | $ 184,246 | $ 184,912 | $ 199,023 |
Net Income | $ 154,885 | $ 135,358 | $ 188,970 |
Net Investment Income Per Share | $ 0.47 | $ 0.47 | $ 0.51 |
Net Realized and Unrealized Gains (and Losses) Per Share | $ (0.08) | $ (0.13) | $ (0.03) |
Net Income Per Share | $ 0.40 | $ 0.35 | $ 0.48 |
Distributions Declared from Net Investment Income Per Share | $ 0.37 | $ 0.37 | $ 0.35 |
Supplemental Distributions Declared from Net Investment Income Per Share | $ 0.05 | $ 0.05 | $ 0.08 |
Weighted Average Yield of Accruing Debt and Income Producing Securities at Fair Value | 11.1 % | 11.5 % | 12.4 % |
Weighted Average Yield of Accruing Debt and Income Producing Securities at Amortized Cost | 11.2 % | 11.6 % | 12.5 % |
Percentage of Debt Investments at Floating Rates | 96.4 % | 96.3 % | 97.4 % |
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (Amounts in thousands, except share and per share amounts) | ||||
December 31, 2024 | December 31, 2023 | |||
Assets | ||||
Investments at fair value | ||||
Non-controlled, non-affiliated investments (amortized cost of | $ 11,451,457 | $ 11,264,956 | ||
Non-controlled, affiliated investments (amortized cost of | 235,060 | 19,988 | ||
Controlled, affiliated investments (amortized cost of | 1,508,028 | 1,428,404 | ||
Total investments at fair value (amortized cost of | 13,194,545 | 12,713,348 | ||
Cash (restricted cash of | 505,692 | 658,702 | ||
Foreign cash (cost of | 8,464 | 956 | ||
Interest receivable | 105,881 | 112,260 | ||
Receivable from a controlled affiliate | 16,970 | 22,978 | ||
Prepaid expenses and other assets | 34,012 | 3,152 | ||
Total Assets | $ 13,865,564 | $ 13,511,396 | ||
Liabilities | ||||
Debt (net of unamortized debt issuance costs of | $ 7,457,702 | $ 7,077,088 | ||
Distribution payable | 144,381 | 136,407 | ||
Management fee payable | 49,058 | 47,711 | ||
Incentive fee payable | 39,082 | 42,217 | ||
Payables to affiliates | 6,083 | 3,835 | ||
Accrued expenses and other liabilities | 216,417 | 182,745 | ||
Total Liabilities | 7,912,723 | 7,490,003 | ||
Commitments and contingencies (Note 7) | ||||
Net Assets | ||||
Common shares issued and outstanding, respectively | 3,902 | 3,897 | ||
Additional paid-in-capital | 5,919,539 | 5,924,002 | ||
Accumulated undistributed (overdistributed) earnings | 29,400 | 93,494 | ||
Total Net Assets | 5,952,841 | 6,021,393 | ||
Total Liabilities and Net Assets | $ 13,865,564 | $ 13,511,396 | ||
Net Asset Value Per Share | $ 15.26 | $ 15.45 | ||
CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except share and per share amounts) | |||||
For the Years Ended December 31, | |||||
2024 | 2023 | 2022 | |||
Investment Income | |||||
Investment income from non-controlled, non-affiliated investments: | |||||
Interest income | $ 1,168,652 | $ 1,209,536 | $ 931,870 | ||
Payment-in-kind ("PIK") interest income | 172,852 | 169,763 | 113,256 | ||
Dividend income | 78,482 | 72,936 | 52,422 | ||
Other income | 22,451 | 14,755 | 18,514 | ||
Total investment income from non-controlled, non-affiliated investments | 1,442,437 | 1,466,990 | 1,116,062 | ||
Investment income from non-controlled, affiliated investments: | |||||
Interest income | 1,038 | — | — | ||
Payment-in-kind ("PIK") interest income | 1,128 | — | — | ||
Dividend income | 932 | 252 | — | ||
Other income | 40 | — | — | ||
Total investment income from non-controlled, affiliated investments: | 3,138 | 252 | — | ||
Investment income from controlled, affiliated investments: | |||||
Interest income | 30,308 | 20,174 | 8,206 | ||
Payment-in-kind ("PIK") interest income | 1,666 | 1,934 | — | ||
Dividend income | 118,538 | 91,802 | 77,047 | ||
Other Income | 671 | 942 | 689 | ||
Total investment income from controlled, affiliated investments | 151,183 | 114,852 | 85,942 | ||
Total Investment Income | 1,596,758 | 1,582,094 | 1,202,004 | ||
Expenses | |||||
Interest expense | 464,915 | 436,306 | 307,539 | ||
Management fees | 193,570 | 191,622 | 188,755 | ||
Performance based incentive fees | 157,193 | 159,857 | 118,091 | ||
Professional fees | 13,602 | 15,532 | 14,709 | ||
Directors' fees | 1,280 | 1,280 | 1,092 | ||
Other general and administrative | 13,495 | 11,127 | 9,290 | ||
Total Operating Expenses | 844,055 | 815,724 | 639,476 | ||
Net Investment Income (Loss) Before Taxes | 752,703 | 766,370 | 562,528 | ||
Income tax expense (benefit) | 11,646 | 12,759 | 5,810 | ||
Net Investment Income (Loss) After Taxes | $ 741,057 | $ 753,611 | $ 556,718 | ||
Net Realized and Change in Unrealized Gain (Loss) | |||||
Net change in unrealized gain (loss): | |||||
Non-controlled, non-affiliated investments | $ (45,932) | $ 90,497 | $ (133,980) | ||
Non-controlled, affiliated investments | 951 | 1,033 | (49) | ||
Controlled, affiliated investments | (3,438) | 213 | 45,602 | ||
Translation of assets and liabilities in foreign currencies | (1,041) | 5,808 | (2,118) | ||
Income tax (provision) benefit | (709) | (4,605) | (3,964) | ||
Total Net Change in Unrealized Gain (Loss) | (50,169) | 92,946 | (94,509) | ||
Net realized gain (loss): | |||||
Non-controlled, non-affiliated investments | $ (62,453) | $ (52,003) | $ 5,171 | ||
Non-controlled, affiliated investments | 1,827 | — | — | ||
Controlled affiliated investments | (25,771) | — | — | ||
Foreign currency transactions | (9,511) | (1,242) | (1,025) | ||
Total Net Realized Gain (Loss) | (95,908) | (53,245) | 4,146 | ||
Total Net Realized and Change in Unrealized Gain (Loss) | (146,077) | 39,701 | (90,363) | ||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ 594,980 | $ 793,312 | $ 466,355 | ||
Earnings Per Share - Basic and Diluted | $ 1.53 | $ 2.03 | $ 1.18 | ||
Weighted Average Shares Outstanding - Basic and Diluted | 390,068,596 | 390,104,585 | 394,006,852 | ||
View original content:SOURCE Blue Owl Capital Corporation
FAQ
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