Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 17

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 17
---
 interest, amortization of deferred financing costs including upfront commitment fees and unused fees on our credit facilities. For the years ended December 31, 2024 and December 31, 2023 interest and other debt financing costs were $62.8 million and $58.7 million, respectively. The increase in interest and other debt financing costs was due to a higher weighted average debt outstanding. 

Base Management Fees 

For the years ended December 31, 2024 and December 31, 2023, we incurred management fees of $20.2 million and $19.6 million, respectively, of which $0.1 million and $0.2 million, respectively, were waived. The increase in net management fees was driven by higher assets under management. 

Incentive Fees 

For the years ended December 31, 2024 and December 31, 2023, we incurred income based incentive fees of $18.9 million and $17.5 million, of which $0.1 million and $0.3 million, respectively, were waived. The increase in net incentive fees was driven by higher pre-incentive fee net investment income. 

Professional Fees and Other General and Administrative Expenses 

Professional fees generally include expenses from independent auditors, tax advisors, legal counsel and third party valuation agents. Other general and administrative expenses generally include overhead and staffing costs allocated from the Administrator, insurance premiums, sub-administration expenses and miscellaneous administrative costs associated with our operations and investment activity.

For the years ended December 31, 2024 and 2023, professional fees were $2.0 million and $1.6 million, respectively. The higher professional fees were due to additional regulatory compliance costs. 

For the years ended December 31, 2024 and 2023, other general and administrative expenses were $2.5 million and $2.8 million, respectively. The decrease in other general and administrative expenses was due to lower operating costs. 

62

Income and Excise Taxes 

For the years ended December 31, 2024 and 2023, we expensed income and excise taxes of $1.6 million and $1.3 million, respectively. The increase in income and excise taxes is attributable to an increase in undistributed taxable income.Net Investment Income 

For the years ended December 31, 2024 and 2023, net investment income was $89.0 million or $2.40 per share and $82.5 million or