Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 673

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 673
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utable capital gains— 26,953 37,000 Capital losses carried forward(10,674)— — Other temporary book/tax differences— — (5,506)Net change in unrealized appreciation/(depreciation) on investments(75,896)(58,065)(10,194)Total accumulated under-distributed (over-distributed) earnings$326,537 $250,028 $125,877 

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Table of ContentsBlackstone Secured Lending FundNotes to Consolidated Financial Statements(in thousands, except share amounts, per share data, percentages and as otherwise noted)

Under the Regulated Investment Company Modernization Act of 2010, net capital losses recognized by the Company may get carried forward indefinitely, and retain their character as short-term and/or long-term losses. Any such losses will be deemed to arise on the first day of the next taxable year. Capital losses for the years ended December 31, 2024, 2023 and 2022, which will be deemed to arise on the first day of the tax years ended December 31, 2025, 2024 and 2023, were as follows:For the Year Ended December 31, 202420232022Short-term$— $— $— Long-term$10,674 $— $— The cost and unrealized gain (loss) of the Company’s investments, as calculated on a tax basis, at December 31, 2024, December 31, 2023 and December 31, 2022 were as follows:For the Year Ended December 31, 202420232022Gross unrealized appreciation$111,961 $86,757 $88,353 Gross unrealized depreciation(210,627)(146,095)(129,296)Net change in unrealized appreciation (depreciation)$(98,666)$(59,338)$(40,943)Tax cost of investments$13,191,184 $9,927,777 $9,658,192 During the year ended December 31, 2024, $607.8 million and $24.3 million of the dividends declared were derived from ordinary income and capital gains, respectively, as determined on a tax basis.During the year ended December 31, 2023, $456.8 million and $47.9 million of the dividends declared were derived from ordinary income and capital gains