Muzinich BDC, Inc.

2024 Q3 Form 10-Q Financial Statement

#000121390024067758 Filed on August 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $3.607M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $261.7M
YoY Change 15.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $84.63M
YoY Change 29.17%
SHAREHOLDERS EQUITY
Retained Earnings $83.17K
YoY Change -98.23%
Common Stock $169.00
YoY Change 12.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $177.1M
YoY Change
Total Liabilities & Shareholders Equity $261.7M
YoY Change 15.7%

Cashflow Statement

Concept 2024 Q3 2024 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
814-01314
dei Entity Address City Or Town
EntityAddressCityOrTown
New York
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10022
dei City Area Code
CityAreaCode
(212)
dei Local Phone Number
LocalPhoneNumber
888-3413
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Use of Estimates</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of increases and decreases in net assets from operations during the reported periods. The Company believes the estimates and assumptions underlying the consolidated financial statements are reasonable and supportable based on the information available as of June 30, 2024 and December 31, 2023, however macroeconomic, geopolitical and other events may have an impact on the global economy generally, and the Company’s business in particular, making any estimates and assumptions as of June 30, 2024 and December 31, 2023 inherently less certain than they would be absent the current and potential impacts of such circumstances. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ materially.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Interest and Dividend Income Recognition</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Interest income is recorded on the accrual basis and includes amortization of premiums or accretion of discounts. Discounts and premiums to par value on securities purchased are accreted and amortized, respectively, into interest income over the contractual life of the respective security using the effective interest method. The amortized cost of investments represents the original cost adjusted for the amortization of premiums or accretion of discounts, if any. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income in the current period.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Loans are generally placed on non-accrual status when there is reasonable doubt that principal or interest will be collected in full. Accrued interest is generally reversed when a loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon management’s judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest is paid current and, in management’s judgment, are likely to remain current. Management may make exceptions to this treatment and determine to not place a loan on non-accrual status if the loan has sufficient collateral value and is in the process of collection.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Dividend income on preferred equity securities is recorded on the accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly-traded portfolio companies.</p>
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2024-05-20
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-424674 usd
CY2023Q4 muzi Investment Company Distributable Earnings Loss Accumulated Short Term Capital Gain Loss
InvestmentCompanyDistributableEarningsLossAccumulatedShortTermCapitalGainLoss
-101203 usd
CY2023Q4 us-gaap Investment Company Distributable Earnings Loss Accumulated Temporary Difference Other
InvestmentCompanyDistributableEarningsLossAccumulatedTemporaryDifferenceOther
-316413 usd
CY2023Q4 muzi Unrealized Earnings Lossesnet
UnrealizedEarningsLossesnet
339384 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
164434 usd
CY2023Q4 us-gaap Tax Basis Of Investments Cost For Income Tax Purposes
TaxBasisOfInvestmentsCostForIncomeTaxPurposes
263749989 usd
CY2023 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-20164 usd
CY2023 us-gaap Distributed Earnings
DistributedEarnings
20164 usd
CY2024Q2 us-gaap Management Fee Expense
ManagementFeeExpense
432793 usd
us-gaap Management Fee Expense
ManagementFeeExpense
866651 usd
CY2023Q2 us-gaap Management Fee Expense
ManagementFeeExpense
365227 usd
us-gaap Management Fee Expense
ManagementFeeExpense
650804 usd
us-gaap Incentive Fee Description
IncentiveFeeDescription
The Incentive Fee Calculation Methodology is: (a)First, the Company will make distributions to its stockholders until stockholders have received 100% of Contributed Capital (as defined below). (b)Second, the Company will make distributions to its stockholders until stockholders have received a 7% return per annum, compounded annually, on their capital contributions, from the date each capital contribution is made through the date such capital has been returned. (c)Third, the Company will make distributions to the Adviser under this paragraph (c) until it has received 12.5% of the total amount distributed by the Company under paragraph (b) and this paragraph (c). (d)Thereafter, any additional amounts that the Company distributes will be paid 87.5% to stockholders and 12.5% to the Adviser.  
CY2024Q2 us-gaap Investment Company Excess Expense Reimbursable
InvestmentCompanyExcessExpenseReimbursable
385 usd
CY2023Q2 us-gaap Investment Company Excess Expense Reimbursable
InvestmentCompanyExcessExpenseReimbursable
0 usd
muzi Percentage Of Outstanding Voting Securities
PercentageOfOutstandingVotingSecurities
0.05 pure
CY2024Q2 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Percent Equity Securities
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerSharePercentEquitySecurities
0.834 pure
CY2023Q4 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Percent Equity Securities
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerSharePercentEquitySecurities
0.857 pure
muzi Percentage Of Borrowing
PercentageOfBorrowing
1.50 pure
CY2024Q2 us-gaap Investment Company Senior Security Indebtedness Asset Coverage Ratio
InvestmentCompanySeniorSecurityIndebtednessAssetCoverageRatio
3.1183 pure
CY2023Q4 us-gaap Investment Company Senior Security Indebtedness Asset Coverage Ratio
InvestmentCompanySeniorSecurityIndebtednessAssetCoverageRatio
2.9907 pure
CY2020Q4 us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.0045 pure
us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
83600000 usd
CY2023 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
89000000 usd
CY2024Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
56306779 usd
CY2023Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
47463847 usd
us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0577 pure
CY2023 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.054 pure
us-gaap Line Of Credit Facility Increase Accrued Interest
LineOfCreditFacilityIncreaseAccruedInterest
532206 usd
CY2023 us-gaap Line Of Credit Facility Increase Accrued Interest
LineOfCreditFacilityIncreaseAccruedInterest
741447 usd
us-gaap Net Income Loss
NetIncomeLoss
5368861 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
4886765 usd
us-gaap Net Income Loss
NetIncomeLoss
5446070 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
3265470 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
169101 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
169101 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124397.4 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137349.3 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
31.75
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
28.9
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
43.78
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
23.77
CY2023Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
1047.73
CY2022Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
1045.12
us-gaap Investment Company Investment Income Loss Per Share
InvestmentCompanyInvestmentIncomeLossPerShare
53.5
us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
-21.75
us-gaap Investment Company Gain Loss On Investment Per Share
InvestmentCompanyGainLossOnInvestmentPerShare
-0.42
us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
31.75
us-gaap Investment Company Investment Income Loss From Operations Per Share
InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare
47.33
us-gaap Investment Company Distribution To Shareholders Per Share
InvestmentCompanyDistributionToShareholdersPerShare
32.23
us-gaap Investment Company Distribution To Shareholders Per Share
InvestmentCompanyDistributionToShareholdersPerShare
18.11
us-gaap Investment Company Distribution To Shareholders Per Share
InvestmentCompanyDistributionToShareholdersPerShare
32.23
us-gaap Investment Company Distribution To Shareholders Per Share
InvestmentCompanyDistributionToShareholdersPerShare
18.11
CY2024Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
1047.25
CY2023Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
1074.34
CY2024Q2 us-gaap Shares Outstanding
SharesOutstanding
169101 shares
CY2023Q2 us-gaap Shares Outstanding
SharesOutstanding
149566.1 shares
CY2024Q2 us-gaap Net Regulatory Assets
NetRegulatoryAssets
177090208 usd
CY2023Q2 us-gaap Net Regulatory Assets
NetRegulatoryAssets
160684625 usd
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
169101 shares
us-gaap Investment Company Total Return
InvestmentCompanyTotalReturn
0.0303 pure
us-gaap Investment Company Portfolio Turnover
InvestmentCompanyPortfolioTurnover
0.0445 pure
us-gaap Investment Company Total Return Payment To Fund By Affiliate
InvestmentCompanyTotalReturnPaymentToFundByAffiliate
0.0244 pure
us-gaap Investment Company Total Return Payment To Fund By Affiliate
InvestmentCompanyTotalReturnPaymentToFundByAffiliate
0.0237 pure
us-gaap Investment Company Incentive Allocation To Average Net Assets
InvestmentCompanyIncentiveAllocationToAverageNetAssets
0.1023 pure
us-gaap Investment Company Incentive Allocation To Average Net Assets
InvestmentCompanyIncentiveAllocationToAverageNetAssets
0.088 pure
CY2024Q2 us-gaap Investment Company Senior Security Indebtedness Asset Coverage Ratio
InvestmentCompanySeniorSecurityIndebtednessAssetCoverageRatio
3.1183 pure
CY2023Q2 us-gaap Investment Company Senior Security Indebtedness Asset Coverage Ratio
InvestmentCompanySeniorSecurityIndebtednessAssetCoverageRatio
3.4809 pure
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
usd
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2024Q2 us-gaap Preferred Stock Value
PreferredStockValue
usd
us-gaap Interest Expense Operating
InterestExpenseOperating
usd
CY2023Q2 us-gaap Interest Expense Operating
InterestExpenseOperating
usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
usd
CY2023Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
usd
CY2024Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
25.39
CY2023Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
26.23
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
47.75
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
53.50
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
23.77
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
28.90
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
31.75
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
43.78
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124397.4 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
137349.3 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169101.0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169101.0 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
usd
us-gaap Investment Company Increase Decrease From Share Transaction
InvestmentCompanyIncreaseDecreaseFromShareTransaction
usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
CY2023Q4 us-gaap Investment Company Distributable Earnings Loss Accumulated Capital Loss Carryforward
InvestmentCompanyDistributableEarningsLossAccumulatedCapitalLossCarryforward
usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
usd
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124397.4 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
137349.3 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169101.0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
169101.0 shares
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
23.77
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
28.90
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
31.75
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
43.78
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001779523

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