Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 193

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 193
---
2023 and 2022:For the Year Ended December 31, 2024 (1)20232022Net increase (decrease) in net assets resulting from operations$694,097 $611,951 $404,556 Net change in unrealized (appreciation) depreciation13,485 54,573 122,149 Realized gains (losses) for tax not included in book income4,362 (917)(60)Non-deductible capital gains based incentive fees— (5,506)(11,883)Other non-deductible expenses and excise taxes14,524 16,984 1,542 Realized losses for tax not recognized10,674 — — Taxable/distributable income$737,142 $677,085 $516,304 (1)Tax information for the fiscal year ended December 31, 2024 is estimated and is not considered final until the Company files its tax return.The components of accumulated gains (losses) as calculated on a tax basis for the years ended December 31, 2024, 2023 and 2022 were as follows:For the Year Ended December 31, 202420232022Distributable ordinary income$413,107 $281,140 $104,577 Distributable 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 

228

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, 202