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10-Q Filing

GREAT ELM CAPITAL CORP. CIK: 1675033 Q3 2023
Filing Information
Form Type 10-Q
Accession Number 0000950170-23-057727
Period End Date 20230930
Filing Date 20231102
Fiscal Year 2023
Fiscal Period Q3
XBRL Instance gecc-20230930_htm.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 4 line items
Line Item Tag Value Unit Period
Investments at Fair Value InvestmentOwnedAtFairValue $236.41M USD Point-in-time
Investments at Fair Value InvestmentOwnedAtFairValue $301.08M USD Point-in-time
Percentage of Net Assets InvestmentOwnedPercentOfNetAssets 2.41 pure Point-in-time
Percentage of Net Assets InvestmentOwnedPercentOfNetAssets 3.55 pure Point-in-time
Income Statement 103 line items
Line Item Tag Value Unit Period
Total interest income InterestIncomeOperating $12.77M USD 3 Qtrs
Total interest income InterestIncomeOperating $4.99M USD 1 Quarter
Total interest income InterestIncomeOperating $7.59M USD 1 Quarter
Total interest income InterestIncomeOperating $21.30M USD 3 Qtrs
Total dividend income DividendIncomeOperating $779.00K USD 1 Quarter
Total dividend income DividendIncomeOperating $2.74M USD 3 Qtrs
Total dividend income DividendIncomeOperating $740.00K USD 1 Quarter
Total dividend income DividendIncomeOperating $3.40M USD 3 Qtrs
Total other income OtherInterestAndDividendIncome $905.00K USD 1 Quarter
Total other income OtherInterestAndDividendIncome $943.00K USD 3 Qtrs
Total other income OtherInterestAndDividendIncome $2.62M USD 3 Qtrs
Total other income OtherInterestAndDividendIncome $303.00K USD 1 Quarter
Total investment income InterestAndDividendIncomeOperating $26.66M USD 3 Qtrs
Total investment income InterestAndDividendIncomeOperating $9.28M USD 1 Quarter
Total investment income InterestAndDividendIncomeOperating $6.03M USD 1 Quarter
Total investment income InterestAndDividendIncomeOperating $17.10M USD 3 Qtrs
Management fees ManagementFeeExpense $804.00K USD 1 Quarter
Management fees ManagementFeeExpense $2.35M USD 3 Qtrs
Management fees ManagementFeeExpense $2.65M USD 3 Qtrs
Management fees ManagementFeeExpense $899.00K USD 1 Quarter
Incentive fees IncentiveFeeExpenseReversal $2.31M USD 3 Qtrs
Incentive fees IncentiveFeeExpenseReversal $763.00K USD 1 Quarter
Administration fees AdministrativeFeesExpense $420.00K USD 1 Quarter
Administration fees AdministrativeFeesExpense $221.00K USD 1 Quarter
Administration fees AdministrativeFeesExpense $1.06M USD 3 Qtrs
Administration fees AdministrativeFeesExpense $704.00K USD 3 Qtrs
Custody fees CustodyFees $62.00K USD 3 Qtrs
Custody fees CustodyFees $41.00K USD 3 Qtrs
Custody fees CustodyFees $19.00K USD 1 Quarter
Custody fees CustodyFees $13.00K USD 1 Quarter
Directors fees NoninterestExpenseDirectorsFees $156.00K USD 3 Qtrs
Directors fees NoninterestExpenseDirectorsFees $156.00K USD 3 Qtrs
Directors fees NoninterestExpenseDirectorsFees $49.00K USD 1 Quarter
Directors fees NoninterestExpenseDirectorsFees $51.00K USD 1 Quarter
Professional services ProfessionalFees $422.00K USD 1 Quarter
Professional services ProfessionalFees $878.00K USD 1 Quarter
Professional services ProfessionalFees $1.67M USD 3 Qtrs
Professional services ProfessionalFees $1.39M USD 3 Qtrs
Interest expense InterestExpenseDebt $8.01M USD 3 Qtrs
Interest expense InterestExpenseDebt $8.93M USD 3 Qtrs
Interest expense InterestExpenseDebt $3.34M USD 1 Quarter
Interest expense InterestExpenseDebt $2.67M USD 1 Quarter
Other expenses OtherExpenses $313.00K USD 1 Quarter
Other expenses OtherExpenses $698.00K USD 3 Qtrs
Other expenses OtherExpenses $770.00K USD 3 Qtrs
Other expenses OtherExpenses $267.00K USD 1 Quarter
Total expenses OperatingExpenses $6.18M USD 1 Quarter
Total expenses OperatingExpenses $13.63M USD 3 Qtrs
Total expenses OperatingExpenses $4.95M USD 1 Quarter
Total expenses OperatingExpenses $17.34M USD 3 Qtrs
Incentive fee waiver IncentiveFeeWaiver $4.85M USD 3 Qtrs
Net expenses InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement $4.95M USD 1 Quarter
Net expenses InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement $17.34M USD 3 Qtrs
Net expenses InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement $6.18M USD 1 Quarter
Net expenses InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement $8.78M USD 3 Qtrs
Net investment income before taxes NetInvestmentIncome $3.09M USD 1 Quarter
Net investment income before taxes NetInvestmentIncome $9.33M USD 3 Qtrs
Net investment income before taxes NetInvestmentIncome $8.33M USD 3 Qtrs
Net investment income before taxes NetInvestmentIncome $1.08M USD 1 Quarter
Excise tax ExciseTax $39.00K USD 1 Quarter
Excise tax ExciseTax $67.00K USD 3 Qtrs
Excise tax ExciseTax $123.00K USD 3 Qtrs
Excise tax ExciseTax $22.00K USD 1 Quarter
Net investment income InvestmentIncomeNet $3.05M USD 1 Quarter
Net investment income InvestmentIncomeNet $1.06M USD 1 Quarter
Net investment income InvestmentIncomeNet $9.26M USD 3 Qtrs
Net investment income InvestmentIncomeNet $8.20M USD 3 Qtrs
Total net realized gain (loss) RealizedInvestmentGainsLosses $1.17M USD 1 Quarter
Total net realized gain (loss) RealizedInvestmentGainsLosses $563.00K USD 3 Qtrs
Total net realized gain (loss) RealizedInvestmentGainsLosses $-128.51M USD 3 Qtrs
Total net realized gain (loss) RealizedInvestmentGainsLosses $-1.82M USD 1 Quarter
Total net change in unrealized appreciation (depreciation) UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax $-902.00K USD 1 Quarter
Total net change in unrealized appreciation (depreciation) UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax $6.53M USD 1 Quarter
Total net change in unrealized appreciation (depreciation) UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax $112.01M USD 3 Qtrs
Total net change in unrealized appreciation (depreciation) UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax $11.30M USD 3 Qtrs
Net realized and unrealized gains (losses) GainLossOnInvestments $11.86M USD 3 Qtrs
Net realized and unrealized gains (losses) GainLossOnInvestments $269.00K USD 1 Quarter
Net realized and unrealized gains (losses) GainLossOnInvestments $4.71M USD 1 Quarter
Net realized and unrealized gains (losses) GainLossOnInvestments $-16.50M USD 3 Qtrs
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total ProfitLoss $21.12M USD 3 Qtrs
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total ProfitLoss $1.33M USD 1 Quarter
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total ProfitLoss $7.76M USD 1 Quarter
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total ProfitLoss $-8.30M USD 3 Qtrs
Net investment income per share (basic and diluted): InvestmentCompanyInvestmentIncomeLossPerShare $0.40 USD 1 Quarter
Net investment income per share (basic and diluted): InvestmentCompanyInvestmentIncomeLossPerShare $1.42 USD 3 Qtrs
Net investment income per share (basic and diluted): InvestmentCompanyInvestmentIncomeLossPerShare $1.22 USD 3 Qtrs
Net investment income per share (basic and diluted): InvestmentCompanyInvestmentIncomeLossPerShare $0.14 USD 1 Quarter
Earnings per share, basic EarningsPerShareBasic $0.18 USD 1 Quarter
Earnings per share, basic EarningsPerShareBasic $1.02 USD 1 Quarter
Earnings per share, basic EarningsPerShareBasic $-1.43 USD 3 Qtrs
Earnings per share, basic EarningsPerShareBasic $2.77 USD 3 Qtrs
Earnings per share,diluted EarningsPerShareDiluted $2.77 USD 3 Qtrs
Earnings per share,diluted EarningsPerShareDiluted $1.02 USD 1 Quarter
Earnings per share,diluted EarningsPerShareDiluted $-1.43 USD 3 Qtrs
Earnings per share,diluted EarningsPerShareDiluted $0.18 USD 1 Quarter
Weighted average shares outstanding basic WeightedAverageNumberOfSharesOutstandingBasic 7.60M shares 3 Qtrs
Weighted average shares outstanding basic WeightedAverageNumberOfSharesOutstandingBasic 7.60M shares 1 Quarter
Weighted average shares outstanding basic WeightedAverageNumberOfSharesOutstandingBasic 5.80M shares 3 Qtrs
Weighted average shares outstanding basic WeightedAverageNumberOfSharesOutstandingBasic 7.60M shares 1 Quarter
Weighted average shares outstanding diluted WeightedAverageNumberOfDilutedSharesOutstanding 7.60M shares 1 Quarter
Weighted average shares outstanding diluted WeightedAverageNumberOfDilutedSharesOutstanding 7.60M shares 1 Quarter
Weighted average shares outstanding diluted WeightedAverageNumberOfDilutedSharesOutstanding 5.80M shares 3 Qtrs
Weighted average shares outstanding diluted WeightedAverageNumberOfDilutedSharesOutstanding 7.60M shares 3 Qtrs
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.78M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $9.13M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $587.00K USD Point-in-time
Net increase (decrease) in net assets resulting from operations ProfitLoss $21.12M USD 3 Qtrs
Net increase (decrease) in net assets resulting from operations ProfitLoss $1.33M USD 1 Quarter
Net increase (decrease) in net assets resulting from operations ProfitLoss $7.76M USD 1 Quarter
Restricted cash RestrictedCash $13.00K USD Point-in-time
Net increase (decrease) in net assets resulting from operations ProfitLoss $-8.30M USD 3 Qtrs
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $9.14M USD Point-in-time
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $587.00K USD Point-in-time
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.78M USD Point-in-time
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.50M USD Point-in-time
Purchases of investments PaymentsForPurchaseOfInvestmentOperatingActivity $109.35M USD 3 Qtrs
Purchases of investments PaymentsForPurchaseOfInvestmentOperatingActivity $151.34M USD 3 Qtrs
Net change in short-term investments NetChangeInShortTermInvestments $-19.77M USD 3 Qtrs
Net change in short-term investments NetChangeInShortTermInvestments $5.30M USD 3 Qtrs
Capitalized payment-in-kind interest CapitalizedPaymentInKindInterest $1.75M USD 3 Qtrs
Capitalized payment-in-kind interest CapitalizedPaymentInKindInterest $934.00K USD 3 Qtrs
Proceeds from sales of investments ProceedsFromDispositionOfInvestmentOperatingActivity $108.78M USD 3 Qtrs
Proceeds from sales of investments ProceedsFromDispositionOfInvestmentOperatingActivity $46.07M USD 3 Qtrs
Proceeds from principal payments ProceedsFromPrincipalPayments $46.41M USD 3 Qtrs
Proceeds from principal payments ProceedsFromPrincipalPayments $48.05M USD 3 Qtrs
Net realized (gain) loss on investments NetRealizedGainLossOnInvestments $-128.51M USD 3 Qtrs
Net realized (gain) loss on investments NetRealizedGainLossOnInvestments $563.00K USD 3 Qtrs
Net change in unrealized (appreciation) depreciation on investments UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax $-902.00K USD 1 Quarter
Net change in unrealized (appreciation) depreciation on investments UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax $6.53M USD 1 Quarter
Net change in unrealized (appreciation) depreciation on investments UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax $112.01M USD 3 Qtrs
Net change in unrealized (appreciation) depreciation on investments UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax $11.30M USD 3 Qtrs
Amortization of premium and accretion of discount, net AccretionAmortizationOfDiscountsAndPremiumsInvestments $1.73M USD 3 Qtrs
Amortization of premium and accretion of discount, net AccretionAmortizationOfDiscountsAndPremiumsInvestments $1.00M USD 3 Qtrs
Amortization of discount (premium) on long term debt AmortizationOfDebtDiscountPremium $982.00K USD 3 Qtrs
Amortization of discount (premium) on long term debt AmortizationOfDebtDiscountPremium $1.34M USD 3 Qtrs
(Increase) decrease in interest receivable IncreaseDecreaseInAccruedInterestReceivableNet $-392.00K USD 3 Qtrs
(Increase) decrease in interest receivable IncreaseDecreaseInAccruedInterestReceivableNet $1.24M USD 3 Qtrs
(Increase) decrease in dividends receivable IncreaseDecreaseInDividendsReceivable $-341.00K USD 3 Qtrs
(Increase) decrease in dividends receivable IncreaseDecreaseInDividendsReceivable $-713.00K USD 3 Qtrs
(Increase) decrease in due from portfolio company IncreaseDecreaseInDueFromPortfolioCompany $-135.00K USD 3 Qtrs
(Increase) decrease in due from portfolio company IncreaseDecreaseInDueFromPortfolioCompany $46.00K USD 3 Qtrs
(Increase) decrease in due from affiliates IncreaseDecreaseDueFromAffiliates $-17.00K USD 3 Qtrs
(Increase) decrease in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-67.00K USD 3 Qtrs
(Increase) decrease in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-3.08M USD 3 Qtrs
Increase (decrease) in due to affiliates IncreaseDecreaseInDueToAffiliates $-4.89M USD 3 Qtrs
Increase (decrease) in due to affiliates IncreaseDecreaseInDueToAffiliates $1.48M USD 3 Qtrs
Increase (decrease) in interest payable IncreaseDecreaseInInterestPayableNet $29.00K USD 3 Qtrs
Increase (decrease) in interest payable IncreaseDecreaseInInterestPayableNet $14.00K USD 3 Qtrs
Increase (decrease) in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $296.00K USD 3 Qtrs
Increase (decrease) in accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $405.00K USD 3 Qtrs
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $-34.26M USD 3 Qtrs
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $23.58M USD 3 Qtrs
Issuance of notes payable ProceedsFromIssuanceOfLongTermDebt $38.42M USD 3 Qtrs
Repayment of notes payable RepaymentsOfNotesPayable $42.82M USD 3 Qtrs
Borrowings under credit facility BorrowingsUnderCreditFacility $2.00M USD 3 Qtrs
Repayments under credit facility RepaymentsOfLinesOfCredit $12.00M USD 3 Qtrs
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $37.51M USD Point-in-time
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $37.51M USD 3 Qtrs
Payments of deferred financing costs PaymentsOfFinancingCosts $1.29M USD 3 Qtrs
Distributions paid PaymentsOfDividends $7.98M USD 3 Qtrs
Distributions paid PaymentsOfDividends $9.60M USD 3 Qtrs
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-22.39M USD 3 Qtrs
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $26.62M USD 3 Qtrs
Net increase (decrease) in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $1.19M USD 3 Qtrs
Net increase (decrease) in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-7.64M USD 3 Qtrs
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $9.14M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $587.00K USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.78M USD Point-in-time
Cash and cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.50M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $9.14M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $587.00K USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.78M USD Point-in-time
Cash and cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $1.50M USD Point-in-time
Common stock issued in-kind CommonStockIssuedInKind $2.60M USD 3 Qtrs
Cash paid for excise tax IncomeTaxesPaidNet $196.00K USD 3 Qtrs
Cash paid for excise tax IncomeTaxesPaidNet $162.00K USD 3 Qtrs
Cash paid for interest InterestPaidNet $7.52M USD 3 Qtrs
Cash paid for interest InterestPaidNet $6.99M USD 3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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