v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 19 Months Ended
Sep. 30, 2026
Mar. 31, 2026
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Cash flows from operating activities              
Net (decrease) increase in net assets resulting from operations $ 3,743 $ (50,749) $ 12,342 $ 23,517 $ (29,493) $ 43,734  
Adjustments to reconcile net (decrease) increase in net assets resulting from operations to net cash provided by operating activities:              
Net realized losses (gains) on investments         77,526 (51,223)  
Net change in unrealized depreciation of investments and New Mountain Net Lease Corporation         22,994 111,171  
Net change in unrealized depreciation (appreciation) on translation of assets and liabilities in foreign currencies (9)   120   97 (482)  
Net change in unrealized depreciation of securities purchased under collateralized agreements to resell 0   0   7,800 0  
Amortization of purchase discount         (6,677) (7,482)  
Amortization of deferred financing costs         7,128 6,866  
Net change due to hedging activity         72 (871)  
Non-cash investment income         (36,981) (40,281)  
(Increase) decrease in operating assets:              
Cash received for purchase of undrawn portion of revolving credit or delayed draw facilities         64 236  
Interest and dividend receivable         6,879 (1,771)  
Receivable from broker         (60) 0  
Receivable from unsettled securities sold         4,138 0  
Receivable from affiliates         328 (121)  
Other assets         4,569 1,496  
(Decrease) increase in operating liabilities:              
Management fee payable         (1,864) (848)  
Incentive fee payable         1,142 (5,824)  
Payable for unsettled securities purchased         (295) 10,412  
Interest payable         (4,439) 959  
Deferred tax liability         19 68  
Payable to broker         (14,630) 10,230  
Other liabilities         1,793 1,889  
Net cash flows provided by operating activities         465,252 217,393  
Cash flows from financing activities              
Repurchase of shares under the repurchase programs         (65,563) (37,253)  
Offering costs paid         0 (76)  
Distributions paid         (78,375) (102,833)  
Repayment of 2022 Convertible Notes         0 (1,228)  
Repayment of Unsecured Notes         (200,000) 0  
Repayment of SBA-guaranteed debentures         (76,205) (103,795) $ (180,000)
Contributions related to non-controlling interest in NMNLC         300 0  
Distributions related to non-controlling interest in NMNLC         (917) (270)  
Deferred financing costs paid         (4,636) (2,436)  
Net cash flows used in financing activities         (504,013) (234,191)  
Net decrease in cash and cash equivalents         (38,761) (16,798)  
Effect of foreign exchange rate changes on cash and cash equivalents         (45) 162  
Cash and cash equivalents at the beginning of the period   $ 80,718   $ 80,320 80,718 80,320  
Cash and cash equivalents at the end of the period $ 41,912   $ 63,684   41,912 63,684 $ 41,912
Supplemental disclosure of cash flow information              
Cash interest paid         66,969 82,554  
Income taxes received         (62) (345)  
Non-cash operating activities:              
Non-cash activity on investments         24,188 61,007  
Non-cash financing activities:              
Conversion of 2022 Convertible Notes to Shares         0 7  
Accrued but unpaid offering costs         41 41  
Accrued but unpaid deferred financing costs         146 45  
Investments Including Delayed Draw Facilities              
(Increase) decrease in operating assets:              
Cash paid for purchase of investments         (199,790) (370,769)  
Investments Excluding Drawn Revolvers              
(Increase) decrease in operating assets:              
Proceeds from sale of investment         644,946 519,148  
Drawn Revolving Credit Facilities              
(Increase) decrease in operating assets:              
Cash paid for purchase of investments         (5,318) 0  
Drawn Revolvers              
(Increase) decrease in operating assets:              
Cash paid for purchase of investments         (31,361) (25,603)  
Proceeds from sale of investment         15,733 15,601  
Convertible Notes              
Adjustments to reconcile net (decrease) increase in net assets resulting from operations to net cash provided by operating activities:              
Amortization of debt (premium) discount         0 (74)  
Unsecured Notes              
Adjustments to reconcile net (decrease) increase in net assets resulting from operations to net cash provided by operating activities:              
Amortization of debt (premium) discount         932 932  
Holdings Credit Facility              
Cash flows from financing activities              
Proceeds from credit facility         315,000 378,500  
Repayments of credit facility         (343,617) (364,800)  
NMFC Credit Facility              
Cash flows from financing activities              
Proceeds from credit facility         90,000 0  
Repayments of credit facility         $ (140,000) $ 0