Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 456

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1B
Chunk 456
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 then stockholders who are participating in the dividend reinvestment plan will have their cash dividends and distributions automatically reinvested in additional shares of common stock, rather than receiving cash dividends and distributions. AcquisitionsThe Company evaluates each purchase transaction to determine whether the set of acquired assets meet the definition of a business. If substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, then the set of transferred assets and activities is not a business. If the “substantially all” threshold is not met, the set of acquired assets has to include an input and a substantive process that together significantly contribute to the ability to create outputs to be considered a business. A substantive process, which is typically comprised of an organized workforce with the necessary skills, knowledge and experience, is not ancillary or minor, cannot be replaced without significant costs, effort or delay or is otherwise considered unique or scarce. For acquisitions that are not deemed to be businesses, total consideration paid, which, under certain circumstances, may also include consideration paid by affiliates on behalf of the Company, is allocated to individual assets acquired and liabilities assumed based on their relative fair values at the acquisition date and does not give rise to goodwill. Transaction costs related to acquisition of assets are included in the cost basis of the assets acquired.New Accounting StandardsIn November 2023, the FASB issued Accounting Standard Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280), which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The Company adopted FASB Accounting Standards Update 2023-07,  Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”). Adoption of the new standard impacted financial statement disclosures only and did not affect the Company’s financial position or the results of its operations. The ASU 2023-07 is effective for public entities for fiscal years beginning after December 15, 2023, and requires retrospective application for all prior periods presented within the financial statements. Since its commencement, the Company has operated and been managed as a single reportable segment deriving returns mainly in the form of  interest income, dividend income and other fees from the investments made in pursuit of its single stated investment objective.  The accounting policies of the Company are consistent with those described in these Notes to Consolidated Financial Statements. The chief operating decision maker (“CODM”) is represented by an executive committee comprised of a