MSC INCOME FUND, INC.
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
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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, 2025 · Filed Nov 14, 2025
MSIF$12.49-0.2%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (unaudited)—Nine months ended
Consolidated Statements of Cash Flows
(in thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net increase in net assets resulting from operations | $58,693 | $36,089 |
| Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities: | ||
| Investments in portfolio companies | (286,906) | (253,889) |
| Proceeds from sales and repayments of debt investments in portfolio companies | 208,777 | 169,961 |
| Proceeds from sales and return of capital of equity investments in portfolio companies | 19,897 | 39,496 |
| Net unrealized (appreciation) depreciation | (35,886) | 24,656 |
| Net realized (gain) loss | 26,141 | (23,802) |
| Amortization of deferred financing costs | 819 | 2,338 |
| Accretion of unearned income | (5,702) | (5,740) |
| Payment-in-kind interest | (6,104) | (5,100) |
| Cumulative dividends | (902) | (101) |
| Deferred taxes | 1,407 | 3,625 |
| Changes in other assets and liabilities: | ||
| Interest and dividend receivable | (1,725) | (4,650) |
| Prepaid and other assets | 39 | (714) |
| Management and incentive fees payable | (326) | (1,271) |
| Interest payable | 486 | 2,365 |
| Accounts payable and other liabilities | (3,590) | 3,354 |
| Net cash used in operating activities | (24,882) | (13,383) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from public offering of common stock, net of underwriting and offering costs | 90,532 | — |
| Issuance of common stock | — | 7,000 |
| Redemption of common stock | (2,685) | (16,765) |
| Dividends paid | (34,556) | (29,686) |
| Proceeds from Credit Facilities | 305,000 | 252,000 |
| Repayments on Credit Facilities | (341,688) | (181,000) |
| Payment of deferred financing costs | (2,015) | (26) |
| Net cash provided by financing activities | 14,588 | 31,523 |
| Net increase (decrease) in cash and cash equivalents | (10,294) | 18,140 |
| CASH AND CASH EQUIVALENTS AS OF BEGINNING OF PERIOD | 28,375 | 30,786 |
| CASH AND CASH EQUIVALENTS AS OF END OF PERIOD | $18,081 | $48,926 |
| Supplemental cash flow disclosures: | ||
| Interest paid | $24,265 | $24,766 |
| Taxes paid | $4,504 | $489 |
| Non-cash financing activities: | ||
| Dividends declared and unpaid | $17,016 | $14,478 |
| Value of shares issued pursuant to the dividend reinvestment plan | $13,771 | $13,578 |
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