Company: NMFCZ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001496099-25-000018
Chunk: 232

Company: New Mountain Finance Corp
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 232
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 determined in good faith by our board of directors, was approximately $3,034.2 million in 118 portfolio companies at March 31, 2025 and approximately $3,091.0 million in 120 portfolio companies at December 31, 2024.

The following table shows our portfolio and investment activity for the three months ended March 31, 2025 and March 31, 2024:

 Three Months Ended(in millions)March 31, 2025March 31, 2024Investments in 18 and 30 new and existing portfolio companies, respectively$121.0 $192.4 Debt repayments in existing portfolio companies160.6 145.5 Sales of securities in 3 and 0 portfolio companies, respectively26.3 — Change in unrealized appreciation on 25 and 50 portfolio companies, respectively12.0 38.2 Change in unrealized depreciation on 85 and 59 portfolio companies, respectively(61.1)(35.2)

Recent Accounting Standards Updates

See Item 1.—Financial Statements and Supplementary Data—Note 13. Recent Accounting Standards Updates in this Quarterly Report on Form 10-Q for details on recent accounting standards updates.

Results of Operations for the Three Months Ended March 31, 2025 and March 31, 2024 

Revenue

 Three Months Ended(in thousands)March 31, 2025March 31, 2024Total interest income$61,517 $67,620 Total dividend income20,943 20,400 Other income3,203 2,536 Total investment income$85,663 $90,556 

Our total investment income decreased by approximately $4.9 million, or 5%, for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. For the three months ended March 31, 2025, total investment income of approximately $85.7 million consisted of approximately $52.2 million in cash interest from investments, approximately $7.6 million in PIK and non-cash interest from investments, approximately $0.1 million in prepayment fees, net amortization of purchase premiums and discounts of approximately $1.6 million, approximately $12.8 million in cash dividends from investments, approximately $8.2 million in PIK and non-cash dividends from investments and approximately $3