Goldman Sachs BDC (GSBD) Quarterly Cash Flow Statement

Cash Flow Summary

Goldman Sachs BDC (GSBD) quarterly cash flow statement covering the six quarters from March 2022 to June 2023, as reported to the SEC.

Goldman Sachs BDC generated $25.89M in cash from operations in the quarter ended June 30, 2023, after a loss of $94.8M a year earlier.
That is 0.4 times its reported net income of $65.66M.
Financing activities used $30.65M. Overall, cash went down $4.76M.

A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.

Figures in USD thousands

						Jun'23	Mar'23	Dec'22	Sep'22	Jun'22	Mar'22
Cash flows from operating activities:
Net increase in net assets from operations:
65,664	28,063	3,668	-7,500	18,677	40,158	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net increase in net assets from operations:						65,664	28,063	3,668	-7,500	18,677	40,158	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Adjustments to reconcile net increase (decrease) in net assets from operations to net cash provided by (used for) operating activities:
Purchases of Investments
64,379	43,021	110,909	216,986	255,710	129,103	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Purchases of Investments						64,379	43,021	110,909	216,986	255,710	129,103	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Payment-in-kind interest capitalized
7,603	8,310	5,617	5,331	4,461	5,470	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Payment-in-kind interest capitalized						7,603	8,310	5,617	5,331	4,461	5,470	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Proceeds from sales of investments and principal repayments
46,588	30,455	180,115	135,860	119,257	135,719	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Proceeds from sales of investments and principal repayments						46,588	30,455	180,115	135,860	119,257	135,719	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized (gain) loss
-2,953	-36,261	-11,880	-19	-4,442	-2,664	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net realized (gain) loss						-2,953	-36,261	-11,880	-19	-4,442	-2,664	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net change in unrealized appreciation (depreciation) on investments
6,353	18,215	-45,119	-72,283	-29,921	-8,155	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net change in unrealized appreciation (depreciation) on investments						6,353	18,215	-45,119	-72,283	-29,921	-8,155	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts and transactions
-91	-30	-446	-73	-31	113	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net change in unrealized appreciation (depreciation) on foreign currency forward contracts and transactions						-91	-30	-446	-73	-31	113	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of premium and accretion of discount, net
6,282	5,856	8,744	12,029	8,621	10,226	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of premium and accretion of discount, net						6,282	5,856	8,744	12,029	8,621	10,226	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of deferred financing and debt issuance costs
1,554	1,536	1,571	1,571	1,538	1,612	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of deferred financing and debt issuance costs						1,554	1,536	1,571	1,571	1,538	1,612	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of original issue discount on convertible notes
-	-	-	-	-	118	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of original issue discount on convertible notes						-	-	-	-	-	118	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in operating assets and liabilities:
Increase (decrease) in receivable for investments sold
-	421	-	12,156	117	146	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in receivable for investments sold						-	421	-	12,156	117	146	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Increase) decrease in interest and dividends receivable
2,286	-1,984	-21	9,948	1,131	-2,557	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Increase) decrease in interest and dividends receivable						2,286	-1,984	-21	9,948	1,131	-2,557	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Increase) decrease in other assets
100	601	109	-4,377	2,755	-320	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Increase) decrease in other assets						100	601	109	-4,377	2,755	-320	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in interest and other debt expenses payable
7,017	-7,483	6,526	-6,709	3,932	-5,489	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in interest and other debt expenses payable						7,017	-7,483	6,526	-6,709	3,932	-5,489	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in management fees payable
49	-142	-94	545	-205	447	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in management fees payable						49	-142	-94	545	-205	447	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in incentive fees payable
-12,479	20,316	-	-	-645	-115	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in incentive fees payable						-12,479	20,316	-	-	-645	-115	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in directors’ fees payable
-	-	-	-	-	201	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in directors’ fees payable						-	-	-	-	-	201	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in accrued expenses and other liabilities
1,037	-2,322	854	1,696	1,250	-1,963	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in accrued expenses and other liabilities						1,037	-2,322	854	1,696	1,250	-1,963	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by (used for) operating activities
25,892	32,274	137,146	-54,235	-94,798	39,326	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by (used for) operating activities						25,892	32,274	137,146	-54,235	-94,798	39,326	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cash flows from financing activities:
Proceeds from issuance of common stock (net of underwriting costs)
-	98,085	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Proceeds from issuance of common stock (net of underwriting costs)						-	98,085	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Offering costs paid
173	28	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Offering costs paid						173	28	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Distributions paid
49,258	44,593	46,249	44,512	44,663	44,577	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Distributions paid						49,258	44,593	46,249	44,512	44,663	44,577	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred financing and debt issuance costs paid
-	115	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred financing and debt issuance costs paid						-	115	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Borrowings on debt
104,783	68,937	108,621	195,095	410,652	131,811	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Borrowings on debt						104,783	68,937	108,621	195,095	410,652	131,811	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Repayments of debt
86,000	147,000	193,500	119,000	257,000	129,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Repayments of debt						86,000	147,000	193,500	119,000	257,000	129,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by (used for) financing activities
-30,648	-24,714	-130,363	42,169	108,212	-41,766	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by (used for) financing activities						-30,648	-24,714	-130,363	42,169	108,212	-41,766	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net increase (decrease) in cash
-4,756	7,560	6,783	-12,066	13,414	-2,440	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net increase (decrease) in cash						-4,756	7,560	6,783	-12,066	13,414	-2,440	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Effect of foreign exchange rate changes on cash and cash equivalents
-3	11	149	-38	-53	89	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Effect of foreign exchange rate changes on cash and cash equivalents						-3	11	149	-38	-53	89	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Supplemental and non-cash activities
Interest expense paid
18,690	32,729	17,127	26,447	9,941	18,442	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense paid						18,690	32,729	17,127	26,447	9,941	18,442	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued but unpaid excise tax expense
891	1,076	2,025	826	833	-190	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued but unpaid excise tax expense						891	1,076	2,025	826	833	-190	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued but unpaid distributions
1	49,258	33	316	86	45,848	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Accrued but unpaid distributions						1	49,258	33	316	86	45,848	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Reinvestment of stockholder distributions
-	1,690	-	1,423	1,185	1,241	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Reinvestment of stockholder distributions						-	1,690	-	1,423	1,185	1,241	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Exchange of investments
-	-	-	115,550	-	18,660	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Exchange of investments						-	-	-	115,550	-	18,660	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx