FS KKR Capital Corp
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
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Consolidated Balance Sheets as of December 31, 202 and
Part I—FINANCIAL INFORMATION
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Investments, at fair value | ||
| Non-controlled/unaffiliated investments (amortized cost—$8,406 and $8,830, respectively) | $8,164 | $8,573 |
| Non-controlled/affiliated investments (amortized cost—$929 and $1,128, respectively) | 855 | 1,140 |
| Controlled/affiliated investments (amortized cost—$4,406 and $4,086, respectively) | 3,990 | 3,777 |
| Total investments, at fair value (amortized cost—$13,741 and $14,044, respectively) | 13,009 | 13,490 |
| Cash and cash equivalents | 181 | 278 |
| Foreign currency, at fair value (cost—$27 and $17, respectively) | 27 | 18 |
| Receivable for investments sold and repaid | 313 | 186 |
| Income receivable | 98 | 187 |
| Unrealized appreciation on foreign currency forward contracts | — | 3 |
| Deferred financing costs | 32 | 26 |
| Prepaid expenses and other assets | 69 | 31 |
| Total assets | $13,729 | $14,219 |
| Liabilities | ||
| Payable for investments purchased | $8 | $2 |
| Debt (net of deferred financing costs and discount of $45 and $49, respectively)(1) | 7,634 | 7,351 |
| Unrealized depreciation on foreign currency forward contracts | 10 | 1 |
| Stockholder distributions payable | — | — |
| Management and investment adviser fees payable | 50 | 53 |
| Subordinated income incentive fees payable(2) | 28 | 35 |
| Administrative services expense payable | 1 | 3 |
| Interest payable | 77 | 108 |
| Other accrued expenses and liabilities | 72 | 44 |
| Total liabilities | 7,880 | 7,597 |
| Commitments and contingencies(3) | ||
| Stockholders’ equity | ||
| Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding | — | — |
| Common stock, $0.001 par value, 750,000,000 shares authorized, 280,066,433 and 280,066,433 shares issued and outstanding, respectively | 0 | 0 |
| Capital in excess of par value | 9,199 | 9,284 |
| Retained earnings (accumulated deficit)(4) | (3,350) | (2,662) |
| Total stockholders’ equity | 5,849 | 6,622 |
| Total liabilities and stockholders’ equity | $13,729 | $14,219 |
| Net asset value per share of common stock at year end | $20.89 | $23.64 |
(1)See Note 9 for a discussion of the Company’s financing arrangements.
(2)See Note 2 and 4 for a discussion of the methodology employed by the Company in calculating the subordinated income incentive fees.
(3)See Note 10 for a discussion of the Company’s commitments and contingencies.
(4)See Note 5 for a discussion of the sources of distributions paid by the Company.
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