Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 142

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 142
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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 $2.30 per share, respectively. The increase in the per share net investment income was due to higher investment income earned year to date. 

Net Realized and Unrealized Gains and Losses 

We value our portfolio investments quarterly and any changes in fair value are recorded as unrealized appreciation (depreciation) on investments. Net realized gains (losses) and net unrealized appreciation (depreciation) on our investment portfolio were comprised of the following: 

    ($ in millions)
     
    For the years endedDecember 31,

    2024

    2023

    Realized losses on non-controlled and non-affiliated investments
     
    $
    (13.0
    )
     
    $
    (13.5
    )

    Realized gains on non-controlled and non-affiliated investments

    6.0

    1.0

    Realized losses on non-controlled and affiliated investments

    (5.3
    )

    —

    Realized gains on non-controlled and affiliated investments

    0.1

    —

    Realized losses on controlled investments

    —

    —

    Realized gains on controlled investments

    6.