阿瑞斯资本 2025年季度报告

Washington, D.C. 20549FORM10-QýQUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch31, 2025 OR oTRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from_____ to _____ Commission File No.814-00663ARES CAPITAL CORPORATION(Exact name of Registrant as specified in its charter) Maryland33-1089684(State or other jurisdiction of(I.R.S. Employerincorporation or organization)Identification Number) 245 Park Avenue,44thFloor,New York,NY10167(Address of principal executive office)(Zip Code)(212)750-7300(Registrant’s telephone number, including area code)____________________________________________________________________ Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 duringthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements forthe past 90 days:YesýNo o Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).YesýNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerginggrowth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2of the Exchange Act.Large accelerated filerxAccelerated filero Smaller reporting companyoEmerging growth companyo Non-accelerated filero If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yeso Noý Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. ARES CAPITAL CORPORATION INDEX PartI.Financial InformationItem 1.Financial StatementsConsolidated Balance Sheet as ofMarch31, 2025(unaudited) and December 31, 20243Consolidated Statement of Operations for the threemonths endedMarch31, 2025and 2024(unaudited)4Consolidated Schedule of Investments as ofMarch31, 2025(unaudited) and December 31, 202480Consolidated Statement of Stockholders’ Equity for thethreemonths endedMarch31, 2025(unaudited) and the yearended December 31, 2024152Consolidated Statement of Cash Flows for thethreemonths endedMarch31, 2025and 2024(unaudited)153Notes to Consolidated Financial Statements (unaudited)154Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations194Item 3.Quantitative and Qualitative Disclosures About Market Risk225Item 4.Controls and Procedures226 PartII.Other InformationItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED BALANCE SHEET(in millions, except per share data) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025(dollar amounts in millions)(unaudited) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025(dollar amounts in millions)(unaudited) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025(dollar amounts in millions)(unaudited) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025(dollar amounts in millions)(unaudited) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025(dollar amounts in millions)(unaudited) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025(dollar amounts in millions)(unaudited) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025(dollar amounts in millions)(unaudited) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025(dollar amounts in millions)(unaudited) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025(dollar amounts in millions)(unaudited) ARES CAPITAL CORPORATION AND SUBSIDIARIESCONSOLIDATED SCHEDULE OF INVESTMENTSAs of March31, 2025