Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 644

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 644
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 and nondeductible federal taxes or losses among other items. To the extent these differences are permanent, they are charged or credited to additional paid in capital, undistributed net investment income or undistributed net realized gains on investments, as appropriate. The Company did not have any uncertain tax positions that met the recognition or measurement criteria of ASC 740-10-25, Income Taxes, nor did the Company have any unrecognized tax benefits as of the periods presented herein. Although the Company files federal and state tax returns, the Company’s major tax jurisdiction is federal. The Company’s inception-to-date federal tax returns remain subject to examination by the Internal Revenue Service. A portion of losses acquired from Alcentra Capital and First Eagle Alternative Capital BDC may be subject to limitations under the Internal Revenue Code. Permanent differences between Investment Company Taxable Income (“ICTI”) and net investment income for financial reporting purposes are reclassified among capital accounts in the consolidated financial statements to reflect their tax character. Differences in classification may also result from the treatment of short-term gains as ordinary income for tax purposes, partnership investments, investments in wholly-owned subsidiaries, and incentive fees. For the years ended December 31, 2024, 2023, and 2022, the Company reclassified for book purposes amounts arising from permanent book/tax differences related to the different tax treatment of foreign currency gain/(loss), defaulted bonds and non-deductible-excise tax as follows (in thousands):

        2024

        2023

        2022

        Accumulated net realized gain (loss)
         
        $
        2,108

        $
        (161,456
        )
         
        $
        (5,482
        )

        Distributions in excess of Investment Company Taxable Income

        4,689

        (16,140
        )

        (3,364
        )

        Total
         
        $
        6,797

        $
        (177,596
        )
         
        $
        (8,846
        )

166

The Company’s aggregate investment unrealized appreciation and depreciation for federal income tax purposes was as follows (in thousands): 

        As ofDecember 31, 2024

        As ofDecember31, 2023

        Tax Cost

        $
        1,663,941

        $
        1,639,709

        Gross Unrealized Appreciation

        $
        40,639

        $
        374

        Gross