Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 478

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1B
Chunk 478
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 Capital BDC may be subject to limitations under the Internal Revenue Code. Permanent differences between Investment Company Taxable Income (“ICTI”) and net investment income for financial reporting purposes are reclassified among capital accounts in the consolidated financial statements to reflect their tax character. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes, partnership investments, investments in wholly-owned subsidiaries, and incentive fees. For the years ended December 31, 2024, 2023, and 2022, the Company reclassified for book purposes amounts arising from permanent book/tax differences related to the different tax treatment of foreign currency gain/(loss), defaulted bonds and non-deductible-excise tax as follows (in thousands):

        2024

        2023

        2022

        Accumulated net realized gain (loss)
         
        $
        2,108

        $
        (161,456
        )
         
        $
        (5,482
        )

        Distributions in excess of Investment Company Taxable Income

        4,689

        (16,140
        )

        (3,364
        )

        Total
         
        $
        6,797

        $
        (177,596
        )
         
        $
        (8,846
        )

166

The Company’s aggregate investment unrealized appreciation and depreciation for federal income tax purposes was as follows (in thousands): 

        As ofDecember 31, 2024

        As ofDecember31, 2023

        Tax Cost

        $
        1,663,941

        $
        1,639,709

        Gross Unrealized Appreciation

        $
        40,639

        $
        374

        Gross Unrealized Depreciation

        (100,760
        )

        (57,314
        )

        Net Unrealized Investment Appreciation (Depreciation)
         
        $
        (60,121
        )
         
        $
        (56,940
        )
       
       The Company recognized the following income taxes related to Taxable Subsidiaries and excise taxes related to the Company’s status as a RIC: 

        For the years ended December 31,

        2024

        2023

        2022

        Income tax (benefit) provision

        $
        155

        $
        -

        $
        -

        Excise tax