Company: PNNT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-017048
Chunk: 70

Company: PENNANTPARK INVESTMENT CORP
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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(1)In accordance with ASC Subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10"), our equity investment in PSLF is measured using the net asset value per share (or its equivalent) as a practical expedient for fair value, and thus has not been classified in the fair value hierarchy.(2)We elected not to apply ASC 825-10 to the SBA debentures and the 2026 Notes and thus the balance reported in the Consolidated Statement of Assets and Liabilities represents the carrying value.(3)Our U.S. Treasury Bills are classified as Level 2, as they were valued by the pricing service who utilize broker-supplied prices.The tables below show a reconciliation of the beginning and ending balances for investments measured at fair value using significant unobservable inputs (Level 3): 

        December 31, 2024

        Description ($ in thousands)
         
        Debt investments

        Equity investments

        Totals

        Beginning balance
         
        $
        916,796

        $
        235,573

        $
        1,152,369

        Net realized gain (loss)

        (3,075
        )

        563

        (2,512
        )

        Net change in unrealized appreciation (depreciation)

        (12,502
        )

        17,114

        4,612

        Purchases, PIK interest, net discount accretion and non-cash exchanges

        281,958

        6,713

        288,671

        Sales, repayments and non-cash exchanges

        (352,059
        )

        (1,612
        )

        (353,671
        )

        Transfers in/out of Level 3
         
        —

        —

        —

        Ending balance
         
        $
        831,118

        $
        258,351

        $
        1,089,469

        Net change in unrealized appreciation reported within the net change in   unrealized appreciation on investments in our consolidated statements of operations   attributable to our Level 3 assets still held at the reporting date
         
        $
        (13,385
        )
         
        $
        17,999

        $
        4,614

        December 31, 2023

        Description ($ in thousands)