Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 141

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 141
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 December 31,

    2024

    2023

    Interest and other debt financing costs

    $
    62.8

    $
    58.7

    Management fees

    20.2

    19.6

    Income based incentive fees

    18.9

    17.5

    Professional fees

    2.0

    1.6

    Directors’ fees

    0.6

    0.6

    Other general and administrative expenses

    2.5

    2.8

    Total expenses

    $
    107.0

    $
    100.8

    Management fee waiver

    (0.1
    )

    (0.2
    )

    Income based incentive fees waiver

    (0.1
    )

    (0.3
    )

    Net expenses

    $
    106.8

    $
    100.3

    Provision for income and excise taxes

    1.6

    1.3

    Total

    $
    108.4

    $
    101.6

61

Interest and other debt financing costs 

Interest and other debt financing costs include interest, amortization of deferred financing costs including upfront commitment fees and unused fees on our credit facilities. For the years ended December 31, 2024 and December 31, 2023 interest and other debt financing costs were $62.8 million and $58.7 million, respectively. The increase in interest and other debt financing costs was due to a higher weighted average debt outstanding. 

Base Management Fees 

For the years ended December 31, 2024 and December 31, 2023, we incurred management fees of $20.2 million and $19.6 million, respectively, of which $0.1 million and $0.2 million, respectively, were waived. The increase in net management fees was driven by higher assets under management. 

Incentive Fees 

For the years ended December 31, 2024 and December 31, 2023, we incurred income based incentive fees of $18.9 million and $17.5 million, of which $0.1 million and $0.3 million, respectively, were waived. The increase in net incentive fees was driven by higher pre-incentive fee net investment income. 

Professional Fees and Other General and Administrative Expenses