XML 34 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Investment income      
PIK interest income $ 33,594 $ 17,326 $ 23,343
Non-cash dividend income 27,409 22,543 19,485
Total investment income 374,836 294,630 270,959
Expenses      
Interest and other financing expenses 124,784 92,421 73,098
Management fee 45,610 46,617 52,960
Incentive fee 38,303 29,901 29,710
Administrative expenses 4,101 4,131 4,461
Professional fees 3,771 3,433 3,197
Other general and administrative expenses 2,068 2,338 1,923
Total expenses 218,637 178,841 165,349
Less: management fee waived (see Note 5) (4,117) (4,402) (13,104)
Less: expenses waived and reimbursed (see Note 5) 0 (238) (244)
Net expenses 214,520 174,201 152,001
Net investment income before income taxes 160,316 120,429 118,958
Income tax expense 418 825 118
Net investment income 159,898 119,604 118,840
Net realized (losses) gains:      
Investments (32,854) 52,703 (3,864)
Foreign currency 13 827 15
Net change in unrealized appreciation (depreciation):      
Investments 10,316 (84,134) 92,386
Securities purchased under collateralized agreements to resell (39) (4,883) 0
Foreign currency 100 (1,115) (81)
Provision for taxes (1,344) (8,474) (114)
Net realized and unrealized (losses) gains (23,808) (45,076) 88,342
Net increase in net assets resulting from operations 136,090 74,528 207,182
Less: Net (increase) decrease in net assets resulting from operations related to non-controlling interest in New Mountain Net Lease Corporation (747) 204 (5,783)
Net increase in net assets resulting from operations related to New Mountain Finance Corporation $ 135,343 $ 74,732 $ 201,399
Basic earnings per share (in dollars per share) $ 1.34 $ 0.75 $ 2.08
Weighted average shares of common stock outstanding - basic (in shares) 101,118,302 100,202,847 96,952,959
Diluted earnings per share (in dollars per share) $ 1.24 $ 0.74 $ 1.91
Weighted average shares of common stock outstanding - diluted (in shares) 123,488,882 115,426,198 110,210,545
Distributions declared per share (in dollars per share) $ 1.49 $ 1.22 $ 1.20
Distributions paid per share (in dollars per share) $ 1.49 $ 1.22 $ 1.20
Non-controlled/Non-affiliated      
Investment income      
Interest income (excluding Payment-in-kind ("PIK") interest income) $ 249,851 $ 184,367 $ 159,189
PIK interest income 15,968 11,767 8,582
Dividend income 193 193 915
Non-cash dividend income 17,481 14,071 10,153
Other income 4,981 9,156 14,106
Net realized (losses) gains:      
Investments (49,267) (737) (3,167)
Net change in unrealized appreciation (depreciation):      
Investments 47,956 (81,197) (23,466)
Non-controlled/Affiliated      
Investment income      
Interest income (excluding Payment-in-kind ("PIK") interest income) 1,951 1,062 1,579
PIK interest income 2,183 1,043 434
Dividend income 0 0 288
Non-cash dividend income 4,625 4,109 4,835
Other income 251 250 345
Net realized (losses) gains:      
Investments 0 0 8,338
Net change in unrealized appreciation (depreciation):      
Investments (19,052) (9,156) 66,505
Controlled      
Investment income      
Interest income (excluding Payment-in-kind ("PIK") interest income) 5,386 9,438 5,470
PIK interest income 15,443 4,516 14,327
Dividend income 45,905 43,149 41,659
Non-cash dividend income 5,303 4,363 4,497
Other income 5,315 7,146 4,580
Net realized (losses) gains:      
Investments 16,413 53,440 (9,035)
Net change in unrealized appreciation (depreciation):      
Investments $ (18,588) $ 6,219 $ 49,347