Company: NMFCZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001496099-25-000010
Chunk: 239

Company: New Mountain Finance Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 5
Chunk 239
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 quarters, which equals our total assets on the Consolidated Statements of Assets and Liabilities less cash and cash equivalents. To the extent the Company invests in derivatives, we use the actual value of the derivatives, as reported on our Consolidated Statements of Assets and Liabilities, for purposes of calculating our base management fee. The base management fee reflected in the table above is based on the year ended December 31, 2024 and is calculated without deducting any management fees waived.(5)Assumes that annual incentive fees earned by the Investment Adviser remain consistent with the gross incentive fees earned by the Investment Adviser during the year ended December 31, 2024 and calculated without deducting any incentive fees waived. As of December 31, 2024, we did not have a capital gains incentive fee accrual. As we cannot predict whether we will meet the thresholds for incentive fees under the Investment Management Agreement, the incentive fees paid in subsequent periods, if any, may be substantially different than the fees incurred during the year ended December 31, 2024. For more detailed information about the incentive fee calculations, see Item 1 — Business — Investment Management Agreement in this Annual Report on Form 10-K.

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(6)We may borrow funds from time to time to make investments to the extent we determine that additional capital would allow us to take advantage of additional investment opportunities or if the economic situation is otherwise conducive to doing so. The costs associated with these borrowings are indirectly borne by our stockholders. The following table summarizes our indebtedness as of December 31, 2024 and the assumed interest rate for each credit facility. See Item 7 — Management's Discussion and Analysis of Financial Condition and Results of Operations — Borrowings in this Annual Report on Form 10-K.BorrowingTotal Outstanding (in millions)Assumed Interest RateUnsecured Notes$990.0 6.6%SBA-guaranteed debentures300.02.7%Holdings Credit Facility294.46.5%2022 Convertible Notes260.07.5%NMFC Credit Facility(1)27.95.6%(1)As of December 31, 2024, we had borrowings denominated in Euro ("EUR") of €16.5 million and in British Pound  Sterling ("GBP") of £8.7 million that have been converted to United States dollars. (7)"Other expenses" include our overhead expenses, including payments by us under the Administration Agreement based on the allocable