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Owl Rock Capital Corporation,(ORCC) a leading investment firm, has a nnounced its financial results for the first quarter of 2023. The company recorded a net income of $177.9 million and generated revenue of $377.6 million during the period. Let's delve into the details of Owl Rock Capital Corporation's consolidated statements of assets and liabilities, as well as its consolidated statements of operations.**
Owl Rock Capital Corporation's Consolidated Statements of Assets and Liabilities
Owl Rock Capital Corporation, a prominent investment firm, has disclosed its consolidated statements of assets and liabilities for the first quarter of 2023. These unaudited financial statements highlight the company's financial position as of March 31, 2023, compared to December 31, 2022.
The company's assets include investments at fair value, cash and cash equivalents, interest receivable, and other assets. Meanwhile, its liabilities consist of debt, distribution payable, management fee payable, incentive fee payable, and other liabilities.
As of March 31, 2023, Owl Rock Capital Corporation reported total assets of $13.68 billion, a slight increase from the $13.58 billion recorded at the end of 2022. The company's investments at fair value amounted to $13.16 billion, while its cash and cash equivalents stood at $392.96 million.
On the other hand, the company's total liabilities reached $7.76 billion, compared to $7.70 billion as of December 31, 2022. Owl Rock Capital Corporation's net assets, which include common shares, additional paid-in capital, and accumulated undistributed earnings, amounted to $5.92 billion.
Owl Rock Capital Corporation's Consolidated Statements of Operations
Owl Rock Capital Corporation has also released its consolidated statements of operations for the three months ended March 31, 2023. These unaudited financial statements provide insights into the company's investment income, expenses, and net investment income.
During the first quarter of 2023, Owl Rock Capital Corporation generated investment income of $377.6 million. This income primarily comprised interest income, payment-in-kind interest income, dividend income, and other income from non-controlled, non-affiliated investments. Additionally, the company earned investment income from controlled, affiliated investments.
However, the company also incurred various expenses, including interest expense, management fees, performance-based incentive fees, and other general and administrative costs. These expenses totaled $196.4 million for the quarter.
After accounting for expenses, Owl Rock Capital Corporation reported net investment income before taxes of $181.2 million. The company incurred income tax expense of $3.4 million, resulting in net investment income after taxes of $177.9 million.
Owl Rock Capital Corporation's financial results for the first quarter of 2023 demonstrate its solid performance. With a net income of $177.9 million and revenue of $377.6 million, the company has showcased its ability to generate strong returns for its investors.
As Owl Rock Capital Corporation continues to navigate the investment landscape, its investors will be eager to see how the company leverages its assets and manages its liabilities to achieve sustained growth and profitability in the future.