XML 34 R20.htm IDEA: XBRL DOCUMENT
v3.22.4

Net Assets | 12 Months Ended
--- | ---
Dec. 31, 2022
Stockholders' Equity Note [Abstract] |
Net Assets | Net Assets The table below illustrates the effect of certain transactions on the net asset accounts of the Company during the years ended December 31, 2022, December 31, 2021 and December 31, 2020:
|  |  |  |  |  |  |  |  |  |  |  |  | Accumulated Overdistributed Earnings |  |  |  |  |  |
|  | Common Stock |  |  |  |  | Paid in Capital in Excess of Par |  |  | Accumulated Net Investment Income |  |  | Accumulated Net Realized Gains (Losses) |  |  | Net Unrealized Appreciation (Depreciation) |  | Total Net Assets of NMFC |  | Non-Controlling Interest in NMNLC |  | Total Net Assets
|  | Shares |  |  | Par Amount |  |  |  |  |  |  |  |  |  |  |  |
Net assets at December 31, 2019 |  | 96,827,342 |  |  |  | $ | 968 |  |  |  |  |  | $ | 1,287,853 |  |  |  | $ | 91,333 |  |  |  | $ | (85,448) |  |  |  | $ | (11,238) |  |  | $ | 1,283,468 |  |  | $ | — |  |  | $ | 1,283,468 |
Distributions declared |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | (120,066) |  |  |  | — |  |  |  | — |  |  | (120,066) |  |  | (726) |  |  | (120,792) |
Purchase of non-controlling interest in NMNLC |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | — |  |  | 12,376 |  |  | 12,376 |
Net increase (decrease) in net assets resulting from operations |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | 116,532 |  |  |  | (2,802) |  |  |  | (55,257) |  |  | 58,473 |  |  | 3,364 |  |  | 61,837 |
Tax reclassifications related to return of capital distributions (See Note 10) |  | — |  |  |  | — |  |  |  |  |  | (18,182) |  |  |  | 18,182 |  |  |  | — |  |  |  | — |  |  | — |  |  | — |  |  | — |
Net assets at December 31, 2020 |  | 96,827,342 |  |  |  | $ | 968 |  |  |  |  |  | $ | 1,269,671 |  |  |  | $ | 105,981 |  |  |  | $ | (88,250) |  |  |  | $ | (66,495) |  |  | $ | 1,221,875 |  |  | $ | 15,014 |  |  | $ | 1,236,889 |
Issuances of common stock |  | 1,080,099 |  |  |  | 11 |  |  |  |  |  | 14,644 |  |  |  | — |  |  |  | — |  |  |  | — |  |  | 14,655 |  |  | — |  |  | 14,655 |
Offering costs |  | — |  |  |  | — |  |  |  |  |  | (231) |  |  |  | — |  |  |  | — |  |  |  | — |  |  | (231) |  |  | — |  |  | (231) |
Distributions declared |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | (116,453) |  |  |  | — |  |  |  | — |  |  | (116,453) |  |  | (1,222) |  |  | (117,675) |
Contributions related to non-controlling interest in NMNLC |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | — |  |  | 1,792 |  |  | 1,792 |
Net increase (decrease) in net assets resulting from operations |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | 117,514 |  |  |  | (3,849) |  |  |  | 87,734 |  |  | 201,399 |  |  | 5,783 |  |  | 207,182 |
Tax reclassifications related to return of capital distributions (See Note 10) |  | — |  |  |  | — |  |  |  |  |  | (11,288) |  |  |  | 11,288 |  |  |  | — |  |  |  | — |  |  | — |  |  | — |  |  | — |
Net assets at December 31, 2021 |  | 97,907,441 |  |  |  | $ | 979 |  |  |  |  |  | $ | 1,272,796 |  |  |  | $ | 118,330 |  |  |  | $ | (92,099) |  |  |  | $ | 21,239 |  |  | $ | 1,321,245 |  |  | $ | 21,367 |  |  | $ | 1,342,612 |
Issuances of common stock |  | 3,029,585 |  |  |  | 30 |  |  |  |  |  | 41,074 |  |  |  | — |  |  |  | — |  |  |  | — |  |  | 41,104 |  |  | — |  |  | 41,104 |
Offering costs |  | — |  |  |  | — |  |  |  |  |  | (222) |  |  |  | — |  |  |  | — |  |  |  | — |  |  | (222) |  |  | — |  |  | (222) |
Distributions declared |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | (122,386) |  |  |  | — |  |  |  | — |  |  | (122,386) |  |  | (9,569) |  |  | (131,955) |
Contributions related to non-controlling interest in NMNLC |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | — |  |  | 124 |  |  | 124 |
Net increase (decrease) in net assets resulting from operations |  | — |  |  |  | — |  |  |  |  |  | — |  |  |  | 118,497 |  |  |  | 49,476 |  |  |  | (93,241) |  |  | 74,732 |  |  | (204) |  |  | 74,528 |
Tax reclassifications related to return of capital distributions (See Note 10) |  | — |  |  |  | — |  |  |  |  |  | (7,703) |  |  |  | 33,152 |  |  |  | (25,449) |  |  |  | — |  |  | — |  |  | — |  |  | — |
Net assets at December 31, 2022 |  | 100,937,026 |  |  |  | $ | 1,009 |  |  |  |  |  | $ | 1,305,945 |  |  |  | $ | 147,593 |  |  |  | $ | (68,072) |  |  |  | $ | (72,002) |  |  | $ | 1,314,473 |  |  | $ | 11,718 |  |  | $ | 1,326,191 |
On November 3, 2021, the Company entered into an equity distribution agreement (the “Distribution Agreement”) with B. Riley Securities, Inc. and Raymond James & Associates, Inc. (collectively, the “Agents”). The Distribution Agreement provides that the Company may issue and sell its shares from time to time through the Agents, up to $250,000 worth of its common stock by means of at-the-market ("ATM") offerings. For the year ended December 31, 2022, the Company sold 2,950,300 shares of common stock under the Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $40,007, including $439 of offering expenses, from these sales. For the year ended December 31, 2021, the Company sold 914,175 shares of common stock under the Distribution Agreement. For the same period, the Company received total accumulated net proceeds of approximately $12,427, including $189 of offering expenses, from these sales. The Company generally uses net proceeds from these offerings to make investments, to pay down liabilities and for general corporate purposes. As of December 31, 2022 and December 31, 2021, shares representing approximately $196,938 and $237,384, respectively, of its common stock remain available for issuance and sale under the Distribution Agreement.

X
- Definition Investment Company, Net Assets + References No definition available. + Details
Name: | nmfc_InvestmentCompanyNetAssetsTextBlock
Namespace Prefix: | nmfc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration