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Consolidated Statements of Assets and Liabilities
€ in Thousands, £ in Thousands, $ in Thousands
Sep. 30, 2022
USD ($)
$ / shares
shares
Sep. 30, 2022
GBP (£)
shares
Sep. 30, 2022
EUR (€)
shares
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
$ / shares
shares
Dec. 31, 2021
GBP (£)
shares
Dec. 31, 2021
EUR (€)
shares
Sep. 30, 2021
USD ($)
$ / shares
shares
Jun. 30, 2021
USD ($)
Mar. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
$ / shares
Investments at fair value $ 3,234,433 [1]         $ 3,174,364 [2]            
Assets                        
Securities purchased under collateralized agreements to resell (cost of $30,000 and $30,000, respectively) 19,401         21,422            
Cash and cash equivalents 48,919         58,077            
Interest and dividend receivable 33,902         30,868            
Other assets 11,338         11,081            
Total assets 3,347,993         3,295,812            
Borrowings                        
Unsecured Notes 531,500         511,500            
SBA-guaranteed debentures 300,000         300,000            
Convertible Notes 201,340         201,417            
Deferred financing costs (net of accumulated amortization of $45,794 and $40,713, respectively) (15,316)         (19,684)            
Net borrowings 1,964,731         1,907,188            
Management fee payable 10,602         10,164            
Incentive fee payable 8,202         7,503            
Interest payable 12,214         17,388            
Payable for unsettled securities purchased 0         7,910            
Payable to affiliates 275         556            
Deferred tax liability 140         13            
Other liabilities 6,731         2,478            
Total liabilities 2,002,895         1,953,200            
Commitments and contingencies (See Note 9)                    
Net assets                        
Preferred stock, par value $0.01 per share, 2,000,000 shares authorized, none issued 0         0            
Common stock, par value $0.01 per share, 200,000,000 shares authorized, and 100,937,026 and 97,907,441 shares issued and outstanding, respectively 1,009         979            
Paid in capital in excess of par 1,313,710         1,272,796            
Accumulated undistributed earnings 17,236         47,470            
Total net assets of New Mountain Finance Corporation 1,331,955         1,321,245            
Non-controlling interest in New Mountain Net Lease Corporation 13,143         21,367            
Total net assets 1,345,098     $ 1,365,201 $ 1,367,840 1,342,612     $ 1,304,958 $ 1,311,086 $ 1,262,798 $ 1,236,889
Total liabilities and net assets $ 3,347,993         $ 3,295,812            
Number of shares outstanding (in shares) | shares 100,937,026 100,937,026 100,937,026     97,907,441 97,907,441 97,907,441 96,906,988      
Net asset value per share of New Mountain Finance Corporation (in dollars per share) | $ / shares $ 13.20         $ 13.49     $ 13.26     $ 12.62
Holdings Credit Facility | Revolving Credit Facility                        
Credit facility $ 630,663         $ 545,263            
DB Credit Facility | Revolving Credit Facility                        
Credit facility 186,400         226,300            
NMFC Credit Facility | Revolving Credit Facility                        
Credit facility 127,210 £ 22,850 € 700     127,192 £ 16,400 € 0        
NMNLC Credit Facility II | Revolving Credit Facility                        
Credit facility 2,934         15,200            
Non-controlled/Non-affiliated                        
Investments at fair value 2,375,786         2,283,779            
Non-controlled/Affiliated                        
Investments at fair value 138,975         134,775 [3]           $ 103,012
Controlled                        
Investments at fair value $ 719,672 [4]         $ 755,810 [5]           $ 600,875
[1] New Mountain Finance Corporation (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act
[2] New Mountain Finance Corporation (the "Company") generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act.
[3] Denotes investments in which the Company is an “Affiliated Person”, as defined in the Investment Company Act of 1940, as amended (the "1940 Act"), due to owning or holding the power to vote 5.0% or more of the outstanding voting securities of the investment but not controlling the company. Fair value as of December 31, 2021 and December 31, 2020 along with transactions during the year ended December 31, 2021 in which the issuer was a non-controlled/affiliated investment is as follows:
Portfolio CompanyFair Value at December 31, 2020Gross
Additions (A)		Gross
Redemptions
(B)		Net
Realized
Gains
(Losses)		Net Change In
Unrealized
Appreciation
(Depreciation)		Fair Value at December 31, 2021Interest
Income		Dividend
Income		Other
Income
Permian Holdco 1, Inc. / Permian Holdco 2, Inc. / Permian Holdco 3, Inc. / Permian Trust$— $225 $(12,438)$(12,213)$12,213 $— $— $— $— 
Sierra Hamilton Holdings Corporation4,776 11 (828)2 41 4,000 188 — 24 
TVG-Edmentum Holdings, LLC / Edmentum Ultimate Holdings, LLC98,236 5,575 (27,287)20,549 54,251 130,775 1,825 5,123 321 
Total Non-Controlled/Affiliated Investments$103,012 $5,811 $(40,553)$8,338 $66,505 $134,775 $2,013 $5,123 $345 
(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, payment-in-kind (“PIK”) interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement at fair value of an existing portfolio company into this category from a different category.
(B)Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.
[4] Denotes investments in which the Company is in “Control”, as defined in the 1940 Act, due to owning or holding the power to vote more than 25.0% of the outstanding voting securities of the investment. Fair value as of September 30, 2022 and December 31, 2021, along with transactions during the nine months ended September 30, 2022 in which the issuer was a controlled investment, is as follows:
Portfolio Company (1)Fair Value at December 31, 2021Gross Additions (A)Gross Redemptions (B)Net Change In Unrealized Appreciation (Depreciation)Fair Value at September 30, 2022Net Realized Gains (Losses)Interest IncomeDividend IncomeOther Income
National HME, Inc./NHME Holdings Corp.$27,347 $3,075 $— $(23,401)$7,021 $— $1,575 $— $— 
New Benevis Topco, LLC / New Benevis Holdco, Inc.109,595 4,377 — (1,173)112,799 — 5,753 — 1,125 
New Permian Holdco, Inc. / New Permian Holdco, L.L.C.34,759 6,560 — 5,000 46,319 — 3,215 — 389 
NM APP CANADA CORP9,422 — — 2,198 11,620 — — 635 500 
NM APP US LLC14,891 — (5,080)(9,811)— 4,488 — 255 483 
NM CLFX LP24,676 — — (7,154)17,522 — — 1,169 — 
NM DRVT LLC7,984 — (5,152)(2,832)— 3,439 — 173 475 
NM JRA LLC3,996 — (2,043)(1,953)— 2,049 — 72 188 
NM GLCR LP50,687 — (14,750)(35,937)— 35,713 — 400 2,150 
NM KRLN LLC244 97 (9,318)8,977 — (9,318)— — — 
NM NL Holdings, L.P.107,870 52 (10,886)(1,680)95,356 — — 6,330 — 
NM GP Holdco, LLC1,197 — (137)(22)1,038 — — 73 — 
NM YI LLC8,286 — — 1,089 9,375 — — 621 — 
NMFC Senior Loan Program III LLC140,000 — — — 140,000 — — 12,935 — 
NMFC Senior Loan Program IV LLC112,400 — — — 112,400 — — 9,520 — 
Haven Midstream LLC / Haven Midstream Holdings LLC / QID TRH Holdings LLC 34,821 3,866 (5,628)40,010 73,069 — 4,717 — 1,381 
UniTek Global Services, Inc.67,635 11,378 (1,513)15,653 93,153 — 3,321 3,191 544 
Total Controlled Investments$755,810 $29,405 $(54,507)$(11,036)$719,672 $36,371 $18,581 $35,374 $7,235 
(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement of an existing portfolio company into this category from a different category.
(B)Gross redemptions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.
[5] Denotes investments in which the Company is in “Control”, as defined in the 1940 Act, due to owning or holding the power to vote more than 25.0% of the outstanding voting securities of the investment. Fair value as of December 31, 2021 and December 31, 2020 along with transactions during the year ended December 31, 2021 in which the issuer was a controlled investment, is as follows:
Portfolio CompanyFair Value at December 31, 2020Gross
Additions
(A)		Gross
Redemptions
(B)		Net 
Realized
Gains
(Losses)		Net Change In
Unrealized
Appreciation
(Depreciation)		Fair Value at December 31, 2021Interest
Income		Dividend
Income		Other
Income
Edmentum Inc.$— $— $— $2,207 $— $— $— $— $1,200 
National HME, Inc./NHME Holdings Corp.27,530 8,094 — — (8,277)27,347 4,594 — 500 
New Benevis Topco, LLC / New Benevis Holdco, Inc.98,442 5,417 — — 5,736 109,595 6,956 — 1,500 
New Permian Holdco, Inc. / New Permian Holdco, L.L.C.29,336 5,423 — — — 34,759 3,522 — 634 
NM APP CANADA CORP12,302 — — — (2,880)9,422 — 978 — 
NM APP US LLC7,410 — — — 7,481 14,891 — 561 — 
NM CLFX LP14,885 — — — 9,791 24,676 — 1,521 — 
NM DRVT LLC7,084 — — — 900 7,984 — 466 — 
NM JRA LLC3,830 — — — 166 3,996 — 268 — 
NM GLCR LP29,130 — — — 21,557 50,687 — 1,892 — 
NM KRLN LLC1,501 641 — — (1,898)244 — — — 
NM NL Holdings, L.P.67,132 32,757 — — 7,981 107,870 — 7,414 — 
NM GP Holdco, LLC703 415 — — 79 1,197 — 52 — 
NM YI LLC6,852 — — — 1,434 8,286 — 877 — 
NMFC Senior Loan Program I LLC23,000 10,000 (33,000)— — — — 741 — 
NMFC Senior Loan Program II LLC79,400 — (79,400)— — — — 2,410 — 
NMFC Senior Loan Program III LLC120,000 20,000 — — — 140,000 — 16,712 — 
NMFC Senior Loan Program IV LLC— 112,400 — — — 112,400 — 7,767 — 
Tenawa Resource Management LLC / Tenawa Resource Holdings LLC / QID TRH Holdings LLC (C)— 64,776 (45,892)(11,243)15,937 34,821 845 — 8 
UniTek Global Services, Inc.72,338 6,669 (2,712)1 (8,660)67,635 3,880 4,497 738 
Total Controlled Investments$600,875 $266,592 $(161,004)$(9,035)$49,347 $755,810 $19,797 $46,156 $4,580 

(A)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest or dividends, the amortization of discounts, reorganizations or restructurings and the movement of an existing portfolio company into this category from a different category.
(B)Gross redemptions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, reorganizations or restructurings and the movement of an existing portfolio company out of this category into a different category.
(C)Portfolio company moved into the controlled category from the non-controlled/non-affiliated investment category.