Company: NMFCZ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001496099-25-000018
Chunk: 365

Company: New Mountain Finance Corp
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 365
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 management fee waiver(288)(901)Total management fee9,945 10,096 Incentive fee8,247 9,389 Less: incentive fee waiver(1,534)— Total incentive fee6,713 9,389 Interest and other financing expenses31,374 31,016 Professional fees1,389 1,067 Administrative expenses1,104 968 Other general and administrative expenses516 465 Total expenses51,041 53,001 Income tax (benefit) expense(19)1 Net expenses after income taxes$51,022 $53,002     

Our total net operating expenses decreased by approximately $2.0 million for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. Our management fee, net of a management fee waiver, remained relatively flat for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. Our incentive fee, net of an incentive fee waiver, decreased by approximately $2.7 million for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. The decrease in incentives fees was primarily attributable to an incentive fee waiver by the Investment Advisor along with a decrease in net investment income. Interest and other financing expenses remained relatively flat during the three months ended March 31, 2025 as compared to the three months ended March 31, 2024. Our total professional fees, administrative expenses and total other general and administrative expenses for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024 remained relatively flat. 

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

 Three Months Ended(in thousands)March 31, 2025March 31, 2024Net realized gains (losses) on investments$37,825 $(11,827)Net change in unrealized (depreciation) appreciation of investments(49,077)3,017 Net change in unrealized appreciation (depreciation) on foreign currency150 (23)Provision for taxes(22)(637)Net realized and unrealized losses$(11,124)$(9,470)

Our net realized losses and unrealized gains and losses resulted in a net loss of