Barings BDC Inc
For the period ended Sep 30, 2024. Filed Nov 6, 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 Nov 6, 2024
BBDC$8.77+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Statements of Operations for the Months Ended
Unaudited Consolidated Statements of Operations
(in thousands, except share and per share data)
| Three MonthsEnded | Three MonthsEnded | Nine MonthsEnded | Nine MonthsEnded | |
|---|---|---|---|---|
| September 30, 2024 | September 30,2023 | September 30, 2024 | September 30,2023 | |
| Investment income: | ||||
| Interest income: | ||||
| Non-Control / Non-Affiliate investments | $50,787 | $54,365 | $158,060 | $160,094 |
| Affiliate investments | 854 | 576 | 2,602 | 1,415 |
| Control investments | 22 | 464 | 460 | 1,210 |
| Total interest income | 51,663 | 55,405 | 161,122 | 162,719 |
| Dividend income: | ||||
| Non-Control / Non-Affiliate investments | 1,190 | 897 | 3,835 | 2,555 |
| Affiliate investments | 8,651 | 7,618 | 26,216 | 24,084 |
| Total dividend income | 9,841 | 8,515 | 30,051 | 26,639 |
| Fee and other income: | ||||
| Non-Control / Non-Affiliate investments | 4,221 | 2,544 | 11,161 | 9,858 |
| Affiliate investments | 52 | 88 | 321 | 291 |
| Control investments | 16 | 18 | 50 | 101 |
| Total fee and other income | 4,289 | 2,650 | 11,532 | 10,250 |
| Payment-in-kind interest income: | ||||
| Non-Control / Non-Affiliate investments | 3,987 | 3,317 | 9,714 | 11,634 |
| Affiliate investments | 193 | 412 | 712 | 663 |
| Control investments | 622 | 250 | 1,698 | 746 |
| Total payment-in-kind interest income | 4,802 | 3,979 | 12,124 | 13,043 |
| Interest income from cash | 256 | 297 | 715 | 701 |
| Total investment income | 70,851 | 70,846 | 215,544 | 213,352 |
| Operating expenses: | ||||
| Interest and other financing fees | 22,563 | 21,829 | 64,419 | 61,956 |
| Base management fee (Note 2) | 8,046 | 8,315 | 24,515 | 24,302 |
| Incentive management fees (Note 2) | 6,597 | 4,618 | 15,886 | 24,309 |
| General and administrative expenses (Note 2) | 2,427 | 2,363 | 7,446 | 7,546 |
| Total operating expenses | 39,633 | 37,125 | 112,266 | 118,113 |
| Net investment income before taxes | 31,218 | 33,721 | 103,278 | 95,239 |
| Income taxes, including excise tax expense | 1,033 | 412 | 1,599 | 807 |
| Net investment income after taxes | $30,185 | $33,309 | $101,679 | $94,432 |
| Barings BDC, Inc.Unaudited Consolidated Statements of Operations — (Continued)(in thousands, except share and per share data) | ||||
|---|---|---|---|---|
| Three MonthsEnded | Three MonthsEnded | Nine MonthsEnded | Nine MonthsEnded | |
| September 30, 2024 | September 30,2023 | September 30, 2024 | September 30,2023 | |
| Realized gains (losses) and unrealized appreciation (depreciation) on investments, credit support agreements, foreign currency transactions and forward currency contracts: | ||||
| Net realized gains (losses): | ||||
| Non-Control / Non-Affiliate investments | $(8,543) | $(16,696) | $(13,465) | $(62,142) |
| Affiliate investments | — | — | (4,179) | — |
| Net realized gains (losses) on investments | (8,543) | (16,696) | (17,644) | (62,142) |
| Foreign currency transactions | 508 | (330) | 902 | 3,743 |
| Forward currency contracts | (2,859) | (234) | (7,531) | (17,144) |
| Net realized gains (losses) | (10,894) | (17,260) | (24,273) | (75,543) |
| Net unrealized appreciation (depreciation): | ||||
| Non-Control / Non-Affiliate investments | 24,957 | 9,336 | 25,629 | 62,108 |
| Affiliate investments | (3,452) | 184 | (5,691) | 13,745 |
| Control investments | (1,496) | (15,999) | (3,262) | (17,665) |
| Net unrealized appreciation (depreciation) on investments | 20,009 | (6,479) | 16,676 | 58,188 |
| Credit support agreements | 654 | (6,450) | (6,600) | 1,114 |
| Foreign currency transactions | (9,775) | 7,560 | (5,234) | (3,406) |
| Forward currency contracts | (8,159) | 7,379 | 3,213 | 23,143 |
| Net unrealized appreciation (depreciation) | 2,729 | 2,010 | 8,055 | 79,039 |
| Net realized gains (losses) and unrealized appreciation (depreciation) on investments, credit support agreements, foreign currency transactions and forward currency contracts | (8,165) | (15,250) | (16,218) | 3,496 |
| Benefit from (provision for) income taxes | — | 262 | — | 161 |
| Net increase (decrease) in net assets resulting from operations | $22,020 | $18,321 | $85,461 | $98,089 |
| Net investment income per share — basic and diluted | $0.29 | $0.31 | $0.96 | $0.88 |
| Net increase (decrease) in net assets resulting from operations per share — basic and diluted | $0.21 | $0.17 | $0.81 | $0.91 |
| Dividends / distributions per share: | ||||
| Total dividends / distributions per share | $0.26 | $0.26 | $0.78 | $0.76 |
| Weighted average shares outstanding — basic and diluted | 105,715,277 | 106,516,166 | 105,883,524 | 107,266,074 |
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