Company: NMFCZ
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001496099-25-000035
Chunk: 447

Company: New Mountain Finance Corp
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 447
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 expenses decreased by approximately $7.6 million during the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024. The decrease in interest and other financing expenses was primarily attributable to a decrease in total outstanding borrowings. Our total professional fees, administrative expenses and total other general and administrative expenses for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024 remained relatively flat. 

Net Realized Gains (Losses) and Net Change in Unrealized Appreciation (Depreciation)

 Nine Months Ended(in thousands)September 30, 2025September 30, 2024Net realized gains (losses) on investments$51,223 $(43,524)Net realized losses on foreign currency— (1,455)Net change in unrealized (depreciation) appreciation of investments(111,171)21,835 Net change in unrealized depreciation securities purchased under collateralizedagreements to resell— (3,000)Net change in unrealized appreciation in NMNLC— 1,533 Net change in unrealized appreciation on foreign currency482 1,796 Provision for taxes(68)(1,804)Net realized and unrealized losses$(59,534)$(24,619)

Our net realized gains and unrealized gains and losses resulted in a net loss of approximately $59.5 million for the nine months ended September 30, 2025 compared to net realized losses and unrealized gains and losses resulting in a net loss of approximately $24.6 million for the same period in 2024. As movement in unrealized appreciation or depreciation can be the result of realizations, we look at net realized and unrealized gains or losses together. The net loss for the nine months ended September 30, 2025 was primarily driven by unrealized depreciation in UniTek Global Services, Inc., TVG-Edmentum Holdings, LLC, ACI Parent Inc., TMK Hawk Parent, Corp., BIG and New Permian Holdco, Inc., partially offset by unrealized appreciation in Dealer Tire Holdings, LLC and HS Purchaser, LLC and realized gains in OA Topco, L.P. The provision for income taxes was attributable to equity investments that are held as of September 30, 2025 in eight of our corporate subsidiaries. The net loss for the nine months ended September 30, 2024 was