Company: NMFCZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001496099-25-000010
Chunk: 270

Company: New Mountain Finance Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 270
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 companies705.8 358.3 Sales of securities in 8 and 10 portfolio companies, respectively74.3 182.1 Change in unrealized appreciation on 69 and 78 portfolio companies, respectively90.0 108.6 Change in unrealized depreciation on 62 and 39 portfolio companies, respectively(74.3)(98.3)

Recent Accounting Standards Updates

See Item 8.—Financial Statements and Supplementary Data—Note 14. Recent Accounting Standards in this Annual Report on Form 10-K for details on recent accounting standards updates.

75

Results of Operations for the Years Ended December 31, 2024 and December 31, 2023 

Results of Operations for the fiscal year ended December 31, 2022 can be found in Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K filed on February 26, 2024, which is incorporated by reference herein.

Revenue Year Ended December 31,(in thousands)20242023Total interest income$276,136 $290,782 Total dividend income84,202 73,507 Other income11,328 10,547 Total investment income$371,666 $374,836 

Our total investment income decreased by approximately $3.2 million for the year ended December 31, 2024 as compared to the year ended December 31, 2023. For the year ended December 31, 2024, total investment income of $371.7 million consisted of approximately $231.3 million in cash interest from investments, approximately $36.9 million in PIK and non-cash interest from investments, approximately $0.7 million in prepayment fees, net amortization of purchase premiums and discounts of approximately $7.4 million, approximately $52.5 million in cash dividends from investments, approximately $31.6 million in PIK and non-cash dividends from investments and approximately $11.3 million in other income. The decrease in interest income of approximately $14.6 million from the year ended December 31, 2023 to the year ended December 31, 2024, was primarily due to slightly lower yields on the portfolio. The increase in dividend income from the year ended December 31, 2023 to the year ended December 31, 2024 was primarily driven by an increase in PIK dividends and an increase in cash dividends from our