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

Company: New Mountain Finance Corp
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 25
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 unrealized appreciation of investments related to non-controlling interest in NMNLC36 170 Net change in unrealized depreciation of investments related to NMFC$(21,745)$(9,678)

Results of Operations for the Nine Months Ended September 30, 2025 and September 30, 2024 

Revenue

 Nine Months Ended(in thousands)September 30, 2025September 30, 2024Total interest income$183,750 $208,831 Total dividend income59,526 63,058 Other income6,406 8,582 Total investment income$249,682 $280,471 

Our total investment income decreased by approximately $30.8 million, or 11%, for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024. For the nine months ended September 30, 2025, total investment income of approximately $249.7 million consisted of approximately $153.9 million in cash interest from investments, approximately $22.1 million in PIK interest from investments, approximately $0.3 million in prepayment fees, net amortization of purchase premiums and discounts of approximately $7.5 million, approximately $37.4 million in cash dividends from investments, approximately $22.1 million in non-cash dividends from investments and approximately $6.4 million in other income. The decrease in interest income of approximately $25.1 million during the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024 was primarily due to a lower invested asset base, along with slightly lower yields on the portfolio. The decrease in dividend income of approximately $3.5 million during the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024 was primarily due to decrease in equity investments held along with a cash distribution received in 2024 from our common shares investment in OA Topco, L.P. Other income during the nine months ended September 30, 2025, which represents fees that are generally non-recurring in nature, was primarily attributable to upfront and amendment fees received from 33 different portfolio companies.

130

Operating Expenses

 Nine Months Ended(in thousands)September 30, 2025September 30, 2024Management fee$29,611 $34,048 Less: management fee waiver(288