10-Q Filing

PENNANTPARK INVESTMENT CORP CIK: 1383414 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0000950170-24-012191`
Period End Date	20231231
Filing Date	20240207
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	pnnt-20231231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 36 Cash Flow Statement 63

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Investments at cost	`InvestmentOwnedAtCost`	$1.12B	USD	Point-in-time
Investments at cost	`InvestmentOwnedAtCost`	$1.23B	USD	Point-in-time
Cash and cash equivalents, cost	`CashAndCashEquivalentsAtCost`	$36.85M	USD	Point-in-time
Cash and cash equivalents, cost	`CashAndCashEquivalentsAtCost`	$38.78M	USD	Point-in-time
Investments at fair value	`InvestmentOwnedAtFairValue`	$1.10B	USD	Point-in-time
Truist Credit Facility payable, cost	`LineOfCreditAtCost`	$388.46M	USD	Point-in-time
Investments at fair value	`InvestmentOwnedAtFairValue`	$1.21B	USD	Point-in-time
Truist Credit Facility payable, cost	`LineOfCreditAtCost`	$212.42M	USD	Point-in-time
Cash and cash equivalents (cost-$36,850 and $38,784, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$38.77M	USD	Point-in-time
Cash and cash equivalents (cost-$36,850 and $38,784, respectively)	`CashAndCashEquivalentsAtCarryingValue`	$36.89M	USD	Point-in-time
Interest receivable	`InterestReceivable`	$9.88M	USD	Point-in-time
Interest receivable	`InterestReceivable`	$6.82M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	65.22M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	65.22M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	65.22M	shares	Point-in-time
Distribution receivable	`DistributionReceivable`	$5.08M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	65.22M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	65.22M	shares	Point-in-time
Distribution receivable	`DistributionReceivable`	$5.38M	USD	Point-in-time
Due from affiliates	`DueFromAffiliate`	$181.00K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Due from affiliates	`DueFromAffiliate`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$4.66M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$4.14M	USD	Point-in-time
Total assets	`Assets`	$1.27B	USD	Point-in-time
Total assets	`Assets`	$1.16B	USD	Point-in-time
Truist Credit Facility payable, at fair value (cost $388,456 and $212,420, respectively)	`LineOfCredit`	$206.94M	USD	Point-in-time
Truist Credit Facility payable, at fair value (cost $388,456 and $212,420, respectively)	`LineOfCredit`	$385.02M	USD	Point-in-time
Payable for investments purchased	`PayableForInvestmentsPurchased`	$51.85M	USD	Point-in-time
Payable for investments purchased	`PayableForInvestmentsPurchased`	$99.95M	USD	Point-in-time
Distributions payable	`DistributionsPayable`	$13.70M	USD	Point-in-time
Distributions payable	`DistributionsPayable`	$4.57M	USD	Point-in-time
Accounts payable and accrued expenses	`OtherAccruedLiabilitiesCurrentAndNoncurrent`	$6.75M	USD	Point-in-time
Accounts payable and accrued expenses	`OtherAccruedLiabilitiesCurrentAndNoncurrent`	$4.32M	USD	Point-in-time
Base management fee payable	`ManagementFeePayable`	$4.00M	USD	Point-in-time
Base management fee payable	`ManagementFeePayable`	$3.92M	USD	Point-in-time
Incentive fee payable	`IncentiveFeePayableNet`	$3.31M	USD	Point-in-time
Incentive fee payable	`IncentiveFeePayableNet`	$3.32M	USD	Point-in-time
Interest payable on debt	`InterestPayableCurrentAndNoncurrent`	$6.23M	USD	Point-in-time
Interest payable on debt	`InterestPayableCurrentAndNoncurrent`	$3.12M	USD	Point-in-time
Due to affiliates	`TaxesPayableCurrent`	$4.10M	USD	Point-in-time
Due to affiliates	`TaxesPayableCurrent`	$1.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$654.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$768.10M	USD	Point-in-time
Commitments and contingencies (See Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (See Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, 65,224,500 shares issued and outstanding Par value $0.001 per share and 100,000,000 shares authorized	`CommonStockValue`	$65.00K	USD	Point-in-time
Common stock, 65,224,500 shares issued and outstanding Par value $0.001 per share and 100,000,000 shares authorized	`CommonStockValue`	$65.00K	USD	Point-in-time
Paid-in capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$746.47M	USD	Point-in-time
Paid-in capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$746.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-244.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-247.39M	USD	Point-in-time
Total net assets	`StockholdersEquity`	$499.14M	USD	Point-in-time
Total net assets	`StockholdersEquity`	$502.19M	USD	Point-in-time
Total liabilities and net assets	`LiabilitiesAndStockholdersEquity`	$1.16B	USD	Point-in-time
Total liabilities and net assets	`LiabilitiesAndStockholdersEquity`	$1.27B	USD	Point-in-time
Net asset value per share	`NetAssetValuePerShare`	$7.65	USD	Point-in-time
Net asset value per share	`NetAssetValuePerShare`	$7.71	USD	Point-in-time
Net asset value per share	`NetAssetValuePerShare`	$8.98	USD	Point-in-time
Net asset value per share	`NetAssetValuePerShare`	$7.70	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Total investment income	`GrossInvestmentIncomeOperating`	$29.96M	USD	1 Quarter
Total investment income	`GrossInvestmentIncomeOperating`	$34.34M	USD	1 Quarter
Interest and expenses on debt	`InterestAndDebtExpense`	$9.56M	USD	1 Quarter
Interest and expenses on debt	`InterestAndDebtExpense`	$9.73M	USD	1 Quarter
Base management fee	`ManagementFeeExpense`	$4.60M	USD	1 Quarter
Base management fee	`ManagementFeeExpense`	$4.00M	USD	1 Quarter
Incentive fee	`IncentiveFeeExpense`	$2.19M	USD	1 Quarter
Incentive fee	`IncentiveFeeExpense`	$3.32M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$841.00K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.21M	USD	1 Quarter
Administrative services expenses	`AdministrativeFeesExpense`	$189.00K	USD	1 Quarter
Administrative services expenses	`AdministrativeFeesExpense`	$266.00K	USD	1 Quarter
Expenses before provision for taxes	`ExpensesBeforeManagementFeesWaiverProvisionForTaxesAndFinancingCosts`	$18.29M	USD	1 Quarter
Expenses before provision for taxes	`ExpensesBeforeManagementFeesWaiverProvisionForTaxesAndFinancingCosts`	$17.63M	USD	1 Quarter
Provision for taxes on net investment income	`ProvisionForTaxesOnNetInvestmentIncome`	$393.00K	USD	1 Quarter
Provision for taxes on net investment income	`ProvisionForTaxesOnNetInvestmentIncome`	$2.00M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$19.63M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$18.68M	USD	1 Quarter
Net investment income	`NetInvestmentIncome`	$15.66M	USD	1 Quarter
Net investment income	`NetInvestmentIncome`	$10.33M	USD	1 Quarter
Net realized gain (loss) on investments and debt, total	`GainLossOnInvestments`	$4.06M	USD	1 Quarter
Net realized gain (loss) on investments and debt, total	`GainLossOnInvestments`	$1.83M	USD	1 Quarter
Provision for taxes on unrealized appreciation (depreciation) on investments	`NetChangeInProvisionForTaxesOnUnrealizedAppreciationOnInvestments`	$150.00K	USD	1 Quarter
Provision for taxes on unrealized appreciation (depreciation) on investments	`NetChangeInProvisionForTaxesOnUnrealizedAppreciationOnInvestments`	$896.00K	USD	1 Quarter
Debt appreciation (depreciation)	`NetChangeInUnrealizedDepreciationAppreciationOnDebt`	$-4.38M	USD	1 Quarter
Debt appreciation (depreciation)	`NetChangeInUnrealizedDepreciationAppreciationOnDebt`	$2.04M	USD	1 Quarter
Net change in unrealized appreciation (depreciation) on investments and debt	`UnrealizedGainLossInvestmentAndDerivativeOperatingBeforeTax`	$-6.84M	USD	1 Quarter
Net change in unrealized appreciation (depreciation) on investments and debt	`UnrealizedGainLossInvestmentAndDerivativeOperatingBeforeTax`	$-86.29M	USD	1 Quarter
Net realized and unrealized gain (loss) from investments and debt	`RealizedAndUnrealizedGainLossFromInvestmentsAndDebt`	$-5.00M	USD	1 Quarter
Net realized and unrealized gain (loss) from investments and debt	`RealizedAndUnrealizedGainLossFromInvestmentsAndDebt`	$-82.23M	USD	1 Quarter
Net increase (decrease) in net assets resulting from operations	`NetIncomeLoss`	$-71.89M	USD	1 Quarter
Net increase (decrease) in net assets resulting from operations	`NetIncomeLoss`	$10.65M	USD	1 Quarter
Net increase (decrease) in net assets resulting from operations per common share	`InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare`	$-1.10	USD	1 Quarter
Net increase (decrease) in net assets resulting from operations per common share	`InvestmentCompanyInvestmentIncomeLossFromOperationsPerShare`	$0.16	USD	1 Quarter
Net investment income per common share	`InvestmentCompanyInvestmentIncomeLossPerShare`	$0.24	USD	1 Quarter
Net investment income per common share	`InvestmentCompanyInvestmentIncomeLossPerShare`	$0.16	USD	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net increase (decrease) in net assets resulting from operations	`ProfitLoss`	$-71.89M	USD	1 Quarter
Net increase (decrease) in net assets resulting from operations	`ProfitLoss`	$10.65M	USD	1 Quarter
Net change in net unrealized (appreciation) depreciation on investments	`NetChangeInNetUnrealizedAppreciationDepreciationOnInvestments`	$4.95M	USD	1 Quarter
Net change in net unrealized (appreciation) depreciation on investments	`NetChangeInNetUnrealizedAppreciationDepreciationOnInvestments`	$91.56M	USD	1 Quarter
Net change in unrealized appreciation (depreciation) on debt	`NetChangeInUnrealizedAppreciationDepreciationOnDebt`	$-4.38M	USD	1 Quarter
Net change in unrealized appreciation (depreciation) on debt	`NetChangeInUnrealizedAppreciationDepreciationOnDebt`	$2.04M	USD	1 Quarter
Net realized (gain) loss on investments and cash equivalents	`RealizedInvestmentGainsLosses`	$4.06M	USD	1 Quarter
Net realized (gain) loss on investments and cash equivalents	`RealizedInvestmentGainsLosses`	$1.83M	USD	1 Quarter
Net accretion of discount and amortization of premium	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$281.00K	USD	1 Quarter
Net accretion of discount and amortization of premium	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$822.00K	USD	1 Quarter
Purchases of investments	`PaymentsForPurchaseOfSecuritiesOperatingActivities`	$281.00M	USD	1 Quarter
Purchases of investments	`PaymentsForPurchaseOfSecuritiesOperatingActivities`	$86.18M	USD	1 Quarter
Payment-in-kind income	`PaymentInKindIncome`	$980.00K	USD	1 Quarter
Payment-in-kind income	`PaymentInKindIncome`	$1.13M	USD	1 Quarter
Proceeds from dispositions of investments	`ProceedsFromSaleOfSecuritiesOperatingActivities`	$170.75M	USD	1 Quarter
Proceeds from dispositions of investments	`ProceedsFromSaleOfSecuritiesOperatingActivities`	$30.62M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$439.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$454.00K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$3.06M	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$531.00K	USD	1 Quarter
Receivables from investments sold	`IncreaseDecreaseInReceivablesFromInvestmentsSold`	-	USD	1 Quarter
Receivables from investments sold	`IncreaseDecreaseInReceivablesFromInvestmentsSold`	$-29.49M	USD	1 Quarter
Distribution receivable	`IncreaseDecreaseInDistributionReceivable`	$836.00K	USD	1 Quarter
Distribution receivable	`IncreaseDecreaseInDistributionReceivable`	$302.00K	USD	1 Quarter
Due from affiliate	`IncreaseDecreaseDueFromAffiliates`	$181.00K	USD	1 Quarter
Due from affiliate	`IncreaseDecreaseDueFromAffiliates`	-	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpensesOther`	$235.00K	USD	1 Quarter
Due to affiliate	`IncreaseDecreaseInDueToAffiliates`	$-2.54M	USD	1 Quarter
Due to affiliate	`IncreaseDecreaseInDueToAffiliates`	$43.00K	USD	1 Quarter
Payable for investments purchased	`IncreaseDecreaseInPayableForInvestmentsPurchased`	$-8.32M	USD	1 Quarter
Payable for investments purchased	`IncreaseDecreaseInPayableForInvestmentsPurchased`	$48.10M	USD	1 Quarter
Interest payable on debt	`IncreaseDecreaseInInterestPayableNet`	$-3.11M	USD	1 Quarter
Interest payable on debt	`IncreaseDecreaseInInterestPayableNet`	$-2.97M	USD	1 Quarter
Base management fee payable, net	`IncreaseDecreaseInBaseManagementFeePayableNet`	$-247.00K	USD	1 Quarter
Base management fee payable, net	`IncreaseDecreaseInBaseManagementFeePayableNet`	$89.00K	USD	1 Quarter
Incentive fee payable	`IncreaseDecreaseInIncentiveFeePayable`	$11.00K	USD	1 Quarter
Incentive fee payable	`IncreaseDecreaseInIncentiveFeePayable`	$-2.19M	USD	1 Quarter
Deferred tax liability	`IncreaseDecreaseInDeferredLiabilities`	-	USD	1 Quarter
Deferred tax liability	`IncreaseDecreaseInDeferredLiabilities`	$5.29M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.43M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.49M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-155.12M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.56M	USD	1 Quarter
Distributions paid to stockholders	`PaymentsOfDividends`	$22.83M	USD	1 Quarter
Distributions paid to stockholders	`PaymentsOfDividends`	$9.78M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$153.21M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.78M	USD	1 Quarter
Net increase (decrease) in cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.91M	USD	1 Quarter
Net increase (decrease) in cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-24.35M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$280.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$31.00K	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.71M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$38.77M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$36.89M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$54.77M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.71M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$38.77M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$36.89M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$54.77M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$12.25M	USD	1 Quarter
Interest paid	`InterestPaidNet`	$12.22M	USD	1 Quarter
Taxes paid	`IncomeTaxesPaidNet`	$299.00K	USD	1 Quarter
Taxes paid	`IncomeTaxesPaidNet`	$3.36M	USD	1 Quarter

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