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MSC Income Fund Inc. (MSIF-0.15%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total investment income of $134.8 million for the year, a 3% increase from the previous year's $131.4 million. This increase was driven by higher fee income and interest income from investments.
Total expenses, net of expense waivers, amounted to $77.5 million, up 5% from $73.7 million in 2023. This rise in expenses was primarily due to increased interest expenses and higher management fees.
Net investment income for 2024 was $57.3 million, or $1.43 per share, slightly down from $57.7 million, or $1.44 per share, in 2023.
The company realized a net gain of $15.8 million on investments, compared to a net loss of $34.0 million in the previous year. This improvement was largely due to gains from full and partial exits of investments.
Net unrealized depreciation on investments was $15.4 million for 2024, a reversal from the $46.3 million of net unrealized appreciation recorded in 2023.
The income tax provision for 2024 was $1.1 million, compared to $3.8 million in 2023. This decrease was mainly due to a deferred tax benefit recognized during the year.
The net increase in net assets resulting from operations was $56.6 million, or $1.41 per share, down from $66.2 million, or $1.65 per share, in 2023.
As of December 31, 2024, MSC Income Fund's total assets were valued at $1.22 billion, with net assets of $624.9 million, or $15.53 per share.
The company's investment portfolio was diversified across private loans, lower middle market companies, and middle market companies, with a focus on secured debt investments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MSC Income Fund Inc. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.