Company: BXSL
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001736035-25-000008
Chunk: 192

Company: Blackstone Secured Lending Fund
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 192
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,919 Earnings (loss) per common share (basic and diluted)$3.45 $3.65 $2.44 

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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)

Note 11. Income Taxes

Taxable income differs from net increase (decrease) in net assets resulting from operations primarily due to: (1) unrealized appreciation (depreciation) on investments, as gains and losses are generally not included in taxable income until they are realized; (2) income or loss recognition on exited investments; (3) non-deductible U.S federal excise taxes; and (4) other non-deductible expenses.The Company makes certain adjustments to the classification of net assets as a result of permanent book-to-tax differences, which include differences in the book and tax basis of certain assets and liabilities, and non-deductible federal taxes or losses among other items. To the extent these differences are permanent, they are charged or credited to additional paid in capital, undistributed net investment income or undistributed net realized gains on investments, as appropriate. For the years ended December 31, 2024, 2023 and 2022, permanent differences were as follows:For the Year Ended December 31, 202420232022Undistributed net investment income (loss)$54,084 $32,895 $60,532 Accumulated net realized gain (loss)$(39,560)$(15,911)$(58,963)Paid In Capital$(14,524)$(16,984)$1,569 During the years ended December 31, 2024, 2023 and 2022, permanent differences were principally related to $14.5 million, $16.8 million and $1.4 million, respectively, of U.S. federal excise taxes and $0.0 million, $0.2 million and $0.2 million, respectively, of non-deductible offering costs.For tax purposes, the Company may elect to defer any portion of a post-October capital loss or late-year ordinary loss to the first day of the following fiscal year. As of December 31, 2024, 2023 and 2022, there were none. The following reconciles the increase in net assets resulting from operations to taxable income for the years ended December 31, 2024,