MidCap Financial Investment Corp
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
MFIC$10.36+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, · Nine Months EndedDecember 31, | ||||||
|---|---|---|---|---|---|---|
| 2024 · 2023 · 2022 | ||||||
| Operating Activities | ||||||
| Net increase (decrease) in net assets resulting from operations | $ | 98,819 | $ | 118,760 | $ | 22,940 |
| Net realized (gains) losses | 77,020 | (200) | 69,239 | |||
| Net change in unrealized (gains) losses | (42,543) | (2,561) | (18,036) | |||
| Net amortization of premiums and accretion of discounts on investments | (8,889) | (7,751) | (6,131) | |||
| Accretion of discount on notes | 1,789 | 604 | 453 | |||
| Amortization of deferred financing costs | 5,158 | 5,258 | 3,899 | |||
| Increase in gains/(losses) from foreign currency transactions | (592) | 69 | 273 | |||
| PIK interest and dividends capitalized | (14,842) | (2,970) | (2,154) | |||
| Purchases of investments | (1,013,393) | (417,124) | (499,632) | |||
| Proceeds from sales and repayments of investments | 867,173 | 497,313 | 581,952 | |||
| Cash acquired in AFT and AIF Mergers | 9,931 | — | — | |||
| Changes in operating assets and liabilities: | ||||||
| Decrease (increase) in interest receivable | 2,153 | (4,273) | (1,615) | |||
| Decrease (increase) in dividends receivable | 618 | 3,509 | 247 | |||
| Decrease (increase) in prepaid expenses and other assets | 16,103 | 1,792 | (1,078) | |||
| Increase (decrease) in management and performance-based incentive fees payable | 854 | 1,669 | (853) | |||
| Increase (decrease) in interest payable | (1,681) | 948 | 10,211 | |||
| Increase (decrease) in accrued administrative services expense | (1,597) | 909 | (149) | |||
| Increase (decrease) in other liabilities and accrued expenses | (5,613) | 429 | (1,178) | |||
| Net Cash Used in/Provided by Operating Activities | $ | (9,532) | $ | 196,381 | $ | 158,388 |
| Financing Activities | ||||||
| Issuances of debt | $ | 446,115 | $ | 630,595 | $ | 168,000 |
| Payments of debt | (334,371) | (655,285) | (231,543) | |||
| Financing costs paid and deferred | (8,883) | (10,896) | — | |||
| Net proceeds from the issuance of common stock | — | — | 30,000 | |||
| Repurchase of common stock | — | (2,297) | (1,638) | |||
| Distributions paid | (139,623) | (123,477) | (66,724) | |||
| Net Cash Used in/Provided by Financing Activities | $ | (36,762) | $ | (161,360) | $ | (101,905) |
| Cash, Cash Equivalents and Foreign Currencies | ||||||
| Net increase (decrease) in cash, cash equivalents and foreign currencies during the period | $ | (46,294) | $ | 35,021 | $ | 56,483 |
| Effect of foreign exchange rate changes on cash and cash equivalents | (48) | 16 | 10 | |||
| Cash, cash equivalents and foreign currencies at beginning of period | 122,128 | 87,091 | 30,598 | |||
| Cash, Cash Equivalents and Foreign Currencies at the End of Period | $ | 75,786 | $ | 122,128 | $ | 87,091 |
| Supplemental Disclosure of Cash Flow Information | ||||||
| Cash interest paid | $ | 110,719 | $ | 97,472 | $ | 44,613 |
| Supplemental Disclosure of Non-Cash Activity | ||||||
| PIK income | $ | 12,151 | $ | 3,006 | $ | 2,662 |
| Purchases of investments(1) | 595,887 | — | — | |||
| Debt assumed(1) | (177,000) | — | — | |||
| Issuance of common stock(1) | 440,140 | — | — | |||
(1) Refer to Note 13 for more information related to the Company's acquisitions of AFT and AIF.
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