v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net (decrease) increase in net assets resulting from operations $ (33,236) $ 31,392
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:    
Net realized losses (gains) on investments 76,994 (51,214)
Net change in unrealized depreciation of investments and New Mountain Net Lease Corporation 3,735 89,607
Net change in unrealized depreciation (appreciation) on translation of assets and liabilities in foreign currencies 106 (602)
Net change in unrealized depreciation of securities purchased under collateralized agreements to resell 7,800 0
Amortization of purchase discount (3,759) (5,841)
Amortization of deferred financing costs 5,062 4,539
Net change due to hedging activity 57 (851)
Non-cash investment income (26,070) (27,171)
(Increase) decrease in operating assets:    
Cash received for purchase of undrawn portion of revolving credit or delayed draw facilities 62 204
Interest and dividend receivable 4,969 (763)
Receivable from unsettled securities sold 4,138 (4,386)
Receivable from affiliates 199 (200)
Other assets (3,425) (15,120)
(Decrease) increase in operating liabilities:    
Management fee payable (1,762) (708)
Incentive fee payable 1,306 (3,241)
Payable for unsettled securities purchased (150) 29,562
Interest payable (4,500) (1,551)
Deferred tax liability (149) 43
Payable to broker (7,140) 10,670
Other liabilities 501 758
Net cash flows provided by operating activities 425,825 144,253
Cash flows from financing activities    
Repurchase of shares under the repurchase programs (65,563) (9,642)
Offering costs paid 0 (75)
Distributions paid (54,762) (69,011)
Repayment of 2022 Convertible Notes 0 (1,223)
Repayment of Unsecured Notes (200,000) 0
Repayment of SBA-guaranteed debentures (26,950) (37,500)
Contributions related to non-controlling interest in NMNLC 300 0
Distributions related to non-controlling interest in NMNLC (180) (180)
Deferred financing costs paid (2,611) (1,464)
Net cash flows used in financing activities (441,682) (167,395)
Net decrease in cash and cash equivalents (15,857) (23,142)
Effect of foreign exchange rate changes on cash and cash equivalents (62) 212
Cash and cash equivalents at the beginning of the period 80,718 80,320
Cash and cash equivalents at the end of the period 64,799 57,390
Supplemental disclosure of cash flow information    
Cash interest paid 47,255 57,134
Income taxes paid (received) 34 (313)
Non-cash operating activities:    
Non-cash activity on investments 24,188 61,007
Non-cash financing activities:    
Accrued but unpaid offering costs 41 114
Accrued but unpaid deferred financing costs 52 109
Investments Including Delayed Draw Facilities    
(Increase) decrease in operating assets:    
Cash paid for purchase of investments (190,652) (243,438)
Investments Excluding Drawn Revolvers    
(Increase) decrease in operating assets:    
Proceeds from sale of investment 600,233 342,004
Drawn Revolvers    
(Increase) decrease in operating assets:    
Cash paid for purchase of investments (21,123) (18,844)
Proceeds from sale of investment 12,011 8,831
Convertible Notes    
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:    
Amortization of debt discount (premium) 0 (45)
Unsecured Notes    
Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in) provided by operating activities:    
Amortization of debt discount (premium) 618 618
Holdings Credit Facility    
Cash flows from financing activities    
Proceeds from credit facility 260,000 221,500
Repayments of credit facility (301,916) (269,800)
NMFC Credit Facility    
Cash flows from financing activities    
Proceeds from credit facility 90,000 0
Repayments of credit facility $ (140,000) $ 0

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