Great Elm Capital Corp
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
GECC$5.01+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows (unaudited)
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net increase (decrease) in net assets resulting from operations | $1,690 | $21,122 |
| Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used for) operating activities: | ||
| Purchases of investments | (219,198) | (151,337) |
| Net change in short-term investments | (74,677) | 5,298 |
| Capitalized payment-in-kind interest | (2,046) | (1,747) |
| Proceeds from sales of investments | 136,468 | 108,778 |
| Proceeds from principal payments | 35,704 | 48,052 |
| Net realized (gain) loss on investments | (2,112) | (563) |
| Net change in unrealized (appreciation) depreciation on investments | 10,742 | (11,300) |
| Amortization of premium and accretion of discount, net | (1,784) | (1,726) |
| Net realized loss on repurchase of debt | 3 | - |
| Amortization of discount (premium) on long term debt | 1,005 | 1,340 |
| Increase (decrease) in operating assets and liabilities: | ||
| (Increase) decrease in interest receivable | (1,547) | 392 |
| (Increase) decrease in dividends receivable | 379 | 341 |
| (Increase) decrease in due from portfolio company | 36 | (46) |
| (Increase) decrease in prepaid expenses and other assets | (171) | 3,081 |
| Increase (decrease) in due to affiliates | 1,413 | 1,478 |
| Increase (decrease) in interest payable | 138 | 14 |
| Increase (decrease) in accrued expenses and other liabilities | (146) | 405 |
| Net cash provided by (used for) operating activities | (114,103) | 23,582 |
| Cash flows from financing activities | ||
| Repurchase of debt | (3) | - |
| Issuance of notes payable, net of issuance costs | 88,821 | 38,416 |
| Repayment of notes payable | - | (42,823) |
| Borrowings under credit facility | 5,000 | 2,000 |
| Repayments under credit facility | (5,000) | (12,000) |
| Proceeds from issuance of common stock, net of issuance costs | 35,671 | - |
| Distributions paid | (11,034) | (7,982) |
| Net cash provided by (used for) financing activities | 113,455 | (22,389) |
| Net increase in cash | (648) | 1,193 |
| Cash and cash equivalents and restricted cash, beginning of period | 953 | 587 |
| Cash and cash equivalents and restricted cash, end of period | $305 | $1,780 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for excise tax | $304 | $196 |
| Cash paid for interest | $9,448 | $7,523 |
The following tables provide a reconciliation of cash and cash equivalents and restricted cash reported on the Consolidated Statements of Assets and Liabilities that sum to the total of the same such amounts on the Consolidated Statements of Cash Flows:
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| Cash and cash equivalents | $305 | $953 |
| Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows | $305 | $953 |
| September 30, 2023 | December 31, 2022 | |
| Cash and cash equivalents | $1,780 | $587 |
| Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows | $1,780 | $587 |
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