10-K Filing

GREAT ELM CAPITAL CORP. CIK: 1675033 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0000950170-24-022642`
Period End Date	20231231
Filing Date	20240229
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	gecc-20231231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 4 Income Statement 81 Cash Flow Statement 106

Balance Sheet 4 line items

Line Item	Tag	Value	Unit	Period
Investments at Fair Value	`InvestmentOwnedAtFairValue`	$301.08M	USD	Point-in-time
Investments at Fair Value	`InvestmentOwnedAtFairValue`	$241.42M	USD	Point-in-time
Percentage of Net Assets	`InvestmentOwnedPercentOfNetAssets`	3.55	pure	Point-in-time
Percentage of Net Assets	`InvestmentOwnedPercentOfNetAssets`	2.45	pure	Point-in-time

Income Statement 81 line items

Line Item	Tag	Value	Unit	Period
Total interest income	`InterestIncomeOperating`	$28.90M	USD	Annual
Total interest income	`InterestIncomeOperating`	$19.92M	USD	Annual
Total interest income	`InterestIncomeOperating`	$18.68M	USD	Annual
Total dividend income	`DividendIncomeOperating`	$3.48M	USD	Annual
Total dividend income	`DividendIncomeOperating`	$4.35M	USD	Annual
Total dividend income	`DividendIncomeOperating`	$4.35M	USD	Annual
Total other income	`OtherInterestAndDividendIncome`	$236.00K	USD	Annual
Total other income	`OtherInterestAndDividendIncome`	$990.00K	USD	Annual
Total other income	`OtherInterestAndDividendIncome`	$371.00K	USD	Annual
Total investment income	`InterestAndDividendIncomeOperating`	$24.43M	USD	Annual
Total investment income	`InterestAndDividendIncomeOperating`	$35.83M	USD	Annual
Total investment income	`InterestAndDividendIncomeOperating`	$25.25M	USD	Annual
Management fees	`ManagementFeeExpense`	$3.18M	USD	Annual
Management fees	`ManagementFeeExpense`	$3.54M	USD	Annual
Management fees	`ManagementFeeExpense`	$3.21M	USD	Annual
Incentive fees	`IncentiveFeeExpenseReversal`	$-4.32M	USD	Annual
Incentive fees	`IncentiveFeeExpenseReversal`	$3.13M	USD	Annual
Incentive fees	`IncentiveFeeExpenseReversal`	$565.00K	USD	Annual
Administration fees	`AdministrativeFeesExpense`	$1.52M	USD	Annual
Administration fees	`AdministrativeFeesExpense`	$938.00K	USD	Annual
Administration fees	`AdministrativeFeesExpense`	$673.00K	USD	Annual
Custody fees	`CustodyFees`	$54.00K	USD	Annual
Custody fees	`CustodyFees`	$53.00K	USD	Annual
Custody fees	`CustodyFees`	$81.00K	USD	Annual
Directors fees	`NoninterestExpenseDirectorsFees`	$233.00K	USD	Annual
Directors fees	`NoninterestExpenseDirectorsFees`	$205.00K	USD	Annual
Directors fees	`NoninterestExpenseDirectorsFees`	$215.00K	USD	Annual
Professional services	`ProfessionalFees`	$1.97M	USD	Annual
Professional services	`ProfessionalFees`	$1.94M	USD	Annual
Professional services	`ProfessionalFees`	$1.77M	USD	Annual
Interest expense	`InterestExpenseDebt`	$10.43M	USD	Annual
Interest expense	`InterestExpenseDebt`	$10.69M	USD	Annual
Interest expense	`InterestExpenseDebt`	$11.74M	USD	Annual
Other expenses	`OtherExpenses`	$1.00M	USD	Annual
Other expenses	`OtherExpenses`	$937.00K	USD	Annual
Other expenses	`OtherExpenses`	$737.00K	USD	Annual
Total expenses	`OperatingExpenses`	$18.57M	USD	Annual
Total expenses	`OperatingExpenses`	$12.92M	USD	Annual
Total expenses	`OperatingExpenses`	$23.00M	USD	Annual
Incentive fee waiver	`IncentiveFeeWaiver`	$-4.85M	USD	Annual
Net expenses	`InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement`	$13.72M	USD	Annual
Net expenses	`InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement`	$23.00M	USD	Annual
Net expenses	`InvestmentCompanyExpenseAfterReductionOfFeeWaiverAndReimbursement`	$12.92M	USD	Annual
Net investment income before taxes	`NetInvestmentIncome`	$10.71M	USD	Annual
Net investment income before taxes	`NetInvestmentIncome`	$12.83M	USD	Annual
Net investment income before taxes	`NetInvestmentIncome`	$12.33M	USD	Annual
Excise tax	`ExciseTax`	$252.00K	USD	Annual
Excise tax	`ExciseTax`	$287.00K	USD	Annual
Excise tax	`ExciseTax`	$48.00K	USD	Annual
Net investment income	`InvestmentIncomeNet`	$12.54M	USD	Annual
Net investment income	`InvestmentIncomeNet`	$10.46M	USD	Annual
Net investment income	`InvestmentIncomeNet`	$12.29M	USD	Annual
Total net realized gain (loss)	`RealizedInvestmentGainsLosses`	$-4.71M	USD	Annual
Total net realized gain (loss)	`RealizedInvestmentGainsLosses`	$-9.64M	USD	Annual
Total net realized gain (loss)	`RealizedInvestmentGainsLosses`	$-126.05M	USD	Annual
Total net change in unrealized appreciation (depreciation)	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	$-12.92M	USD	Annual
Total net change in unrealized appreciation (depreciation)	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	$100.00M	USD	Annual
Total net change in unrealized appreciation (depreciation)	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	$17.50M	USD	Annual
Net realized and unrealized gains (losses)	`GainLossOnInvestments`	$-22.56M	USD	Annual
Net realized and unrealized gains (losses)	`GainLossOnInvestments`	$-26.04M	USD	Annual
Net realized and unrealized gains (losses)	`GainLossOnInvestments`	$12.79M	USD	Annual
Net increase (decrease) in net assets resulting from operations	`ProfitLoss`	$-15.58M	USD	Annual
Net increase (decrease) in net assets resulting from operations	`ProfitLoss`	$-10.28M	USD	Annual
Net increase (decrease) in net assets resulting from operations	`ProfitLoss`	$25.33M	USD	Annual
Net investment income per share (basic and diluted):	`InvestmentCompanyInvestmentIncomeLossPerShare`	$3.02	USD	Annual
Net investment income per share (basic and diluted):	`InvestmentCompanyInvestmentIncomeLossPerShare`	$3.22	USD	Annual
Net investment income per share (basic and diluted):	`InvestmentCompanyInvestmentIncomeLossPerShare`	$6.40	USD	Annual
Net investment income per share (basic and diluted):	`InvestmentCompanyInvestmentIncomeLossPerShare`	$1.65	USD	Annual
Net investment income per share (basic and diluted):	`InvestmentCompanyInvestmentIncomeLossPerShare`	$1.67	USD	Annual
Earnings per share, basic	`EarningsPerShareBasic`	$-2.52	USD	Annual
Earnings per share, basic	`EarningsPerShareBasic`	$-2.49	USD	Annual
Earnings per share, basic	`EarningsPerShareBasic`	$3.33	USD	Annual
Earnings per share,diluted	`EarningsPerShareDiluted`	$-2.52	USD	Annual
Earnings per share,diluted	`EarningsPerShareDiluted`	$3.33	USD	Annual
Earnings per share,diluted	`EarningsPerShareDiluted`	$-2.49	USD	Annual
Weighted average shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.60M	shares	Annual
Weighted average shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	6.25M	shares	Annual
Weighted average shares outstanding basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.07M	shares	Annual
Weighted average shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.25M	shares	Annual
Weighted average shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.60M	shares	Annual
Weighted average shares outstanding diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.07M	shares	Annual

Cash Flow Statement 106 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$587.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$953.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.13M	USD	Point-in-time
Net increase (decrease) in net assets resulting from operations	`ProfitLoss`	$-15.58M	USD	Annual
Net increase (decrease) in net assets resulting from operations	`ProfitLoss`	$-10.28M	USD	Annual
Restricted cash	`RestrictedCash`	$13.00K	USD	Point-in-time
Net increase (decrease) in net assets resulting from operations	`ProfitLoss`	$25.33M	USD	Annual
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`	$9.14M	USD	Point-in-time
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$53.18M	USD	Point-in-time
Total cash and cash equivalents and restricted cash shown on the Consolidated Statements of Cash Flows	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$953.00K	USD	Point-in-time
Purchases of investments	`PaymentsForPurchaseOfInvestmentOperatingActivity`	$191.88M	USD	Annual
Purchases of investments	`PaymentsForPurchaseOfInvestmentOperatingActivity`	$220.35M	USD	Annual
Purchases of investments	`PaymentsForPurchaseOfInvestmentOperatingActivity`	$149.46M	USD	Annual
Proceeds from sales of investments	`ProceedsFromSalesOfInvestments`	$48.05M	USD	Annual
Net change in short-term investments	`NetChangeInShortTermInvestments`	$-4.47M	USD	Annual
Net change in short-term investments	`NetChangeInShortTermInvestments`	$-6.00K	USD	Annual
Net change in short-term investments	`NetChangeInShortTermInvestments`	$-6.33M	USD	Annual
Capitalized payment-in-kind interest	`CapitalizedPaymentInKindInterest`	$2.60M	USD	Annual
Capitalized payment-in-kind interest	`CapitalizedPaymentInKindInterest`	$1.42M	USD	Annual
Capitalized payment-in-kind interest	`CapitalizedPaymentInKindInterest`	$6.68M	USD	Annual
Proceeds from sales of investments	`ProceedsFromDispositionOfInvestmentOperatingActivity`	$56.18M	USD	Annual
Proceeds from sales of investments	`ProceedsFromDispositionOfInvestmentOperatingActivity`	$184.38M	USD	Annual
Proceeds from sales of investments	`ProceedsFromDispositionOfInvestmentOperatingActivity`	$64.73M	USD	Annual
Proceeds from principal payments	`ProceedsFromPrincipalPayments`	$50.74M	USD	Annual
Proceeds from principal payments	`ProceedsFromPrincipalPayments`	$56.82M	USD	Annual
Proceeds from principal payments	`ProceedsFromPrincipalPayments`	$70.26M	USD	Annual
Net realized (gain) loss on investments	`NetRealizedGainLossOnInvestments`	$-4.71M	USD	Annual
Net realized (gain) loss on investments	`NetRealizedGainLossOnInvestments`	$-9.64M	USD	Annual
Net realized (gain) loss on investments	`NetRealizedGainLossOnInvestments`	$-126.05M	USD	Annual
Net change in unrealized (appreciation) depreciation on investments	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	$-12.92M	USD	Annual
Net change in unrealized (appreciation) depreciation on investments	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	$100.00M	USD	Annual
Net change in unrealized (appreciation) depreciation on investments	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	$17.50M	USD	Annual
Amortization of premium and accretion of discount, net	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$1.35M	USD	Annual
Amortization of premium and accretion of discount, net	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$2.38M	USD	Annual
Amortization of premium and accretion of discount, net	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$3.96M	USD	Annual
Amortization of discount (premium) on long term debt	`AmortizationOfDebtDiscountPremium`	$1.63M	USD	Annual
Amortization of discount (premium) on long term debt	`AmortizationOfDebtDiscountPremium`	$1.31M	USD	Annual
Amortization of discount (premium) on long term debt	`AmortizationOfDebtDiscountPremium`	$1.50M	USD	Annual
(Increase) decrease in interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-985.00K	USD	Annual
(Increase) decrease in interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$1.28M	USD	Annual
(Increase) decrease in interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-612.00K	USD	Annual
(Increase) decrease in dividends receivable	`IncreaseDecreaseInDividendsReceivable`	$1.54M	USD	Annual
(Increase) decrease in dividends receivable	`IncreaseDecreaseInDividendsReceivable`	$-439.00K	USD	Annual
(Increase) decrease in dividends receivable	`IncreaseDecreaseInDividendsReceivable`	$-100.00K	USD	Annual
(Increase) decrease in due from portfolio company	`IncreaseDecreaseInDueFromPortfolioCompany`	$-135.00K	USD	Annual
(Increase) decrease in due from portfolio company	`IncreaseDecreaseInDueFromPortfolioCompany`	$36.00K	USD	Annual
(Increase) decrease in due from portfolio company	`IncreaseDecreaseInDueFromPortfolioCompany`	$-701.00K	USD	Annual
(Increase) decrease in due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$17.00K	USD	Annual
(Increase) decrease in due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$-17.00K	USD	Annual
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.15M	USD	Annual
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.88M	USD	Annual
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$60.00K	USD	Annual
Increase (decrease) in due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-4.07M	USD	Annual
Increase (decrease) in due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$-4.26M	USD	Annual
Increase (decrease) in due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$1.02M	USD	Annual
Increase (decrease) in interest payable	`IncreaseDecreaseInInterestPayableNet`	$-10.00K	USD	Annual
Increase (decrease) in interest payable	`IncreaseDecreaseInInterestPayableNet`	$13.00K	USD	Annual
Increase (decrease) in interest payable	`IncreaseDecreaseInInterestPayableNet`	$-299.00K	USD	Annual
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$647.00K	USD	Annual
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$190.00K	USD	Annual
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-72.00K	USD	Annual
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-58.49M	USD	Annual
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-41.76M	USD	Annual
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.68M	USD	Annual
Issuance of notes payable	`ProceedsFromIssuanceOfLongTermDebt`	$55.23M	USD	Annual
Issuance of notes payable	`ProceedsFromIssuanceOfLongTermDebt`	$38.41M	USD	Annual
Repayment of notes payable	`RepaymentsOfNotesPayable`	$42.82M	USD	Annual
Repayment of notes payable	`RepaymentsOfNotesPayable`	$30.29M	USD	Annual
Borrowings under credit facility	`BorrowingsUnderCreditFacility`	$10.00M	USD	Annual
Borrowings under credit facility	`BorrowingsUnderCreditFacility`	$2.00M	USD	Annual
Borrowings under credit facility	`BorrowingsUnderCreditFacility`	$10.00M	USD	Annual
Repayments under credit facility	`RepaymentsOfLinesOfCredit`	$10.00M	USD	Annual
Repayments under credit facility	`RepaymentsOfLinesOfCredit`	$12.00M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$37.51M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$37.51M	USD	Point-in-time
Payments of deferred financing costs	`PaymentsOfFinancingCosts`	$1.29M	USD	Annual
Payments of deferred financing costs	`PaymentsOfFinancingCosts`	$550.00K	USD	Annual
Payments of deferred financing costs	`PaymentsOfFinancingCosts`	$259.00K	USD	Annual
Distributions paid	`PaymentsOfDividends`	$10.64M	USD	Annual
Distributions paid	`PaymentsOfDividends`	$9.93M	USD	Annual
Distributions paid	`PaymentsOfDividends`	$13.02M	USD	Annual
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.45M	USD	Annual
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$33.20M	USD	Annual
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-25.32M	USD	Annual
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-44.04M	USD	Annual
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$366.00K	USD	Annual
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-8.56M	USD	Annual
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`	$9.14M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$53.18M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$953.00K	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`	$9.14M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$53.18M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$953.00K	USD	Point-in-time
Distributions declared, not yet paid	`DividendsPayableCurrentAndNoncurrent`	$760.00K	USD	Point-in-time
Common stock distributed	`CommonStockDistributed`	$1.72M	USD	Annual
Common stock issued in-kind	`CommonStockIssuedInKind`	$13.24M	USD	Annual
Common stock issued in-kind	`CommonStockIssuedInKind`	$2.60M	USD	Annual
Cash paid for excise tax	`IncomeTaxesPaidNet`	$162.00K	USD	Annual
Cash paid for excise tax	`IncomeTaxesPaidNet`	$27.00K	USD	Annual
Cash paid for excise tax	`IncomeTaxesPaidNet`	$196.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$9.36M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$9.23M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$10.09M	USD	Annual

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