AB 2020 Form 10-K

AB Private Credit Investors Corporation Consolidated Statements of Cash Flows For the year ended December 31, 2020 For the year ended December 31, 2019 For the year ended December 31, 2018 Cash flows from operating activities Net increase (decrease) in net assets resulting from operations $ 8,500,683 $ 5,567,442 $ 1,578,601 Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used for) operating activities: Purchases of investments (285,191,479) (250,053,625) (130,155,795) Payment-in-kind investments (862,336) (301,603) (19,444) Proceeds from sales of investments and principal repayments 96,723,914 43,468,226 15,812,066 Net realized (gain) loss on investments (569,369) (83,847) (9,514) Net change in unrealized (appreciation) depreciation on investments 4,345,008 1,139,312 704,864 Amortization of premium and accretion of discount, net (2,455,450) (1,390,648) (262,280) Amortization of discount, debt issuance and deferred financing costs 1,208,387 1,088,053 443,423 Amortization of deferred offering costs — — 156,089 Increase (decrease) in operating assets and liabilities: (Increase) decrease in receivable for investments sold 206,522 (286,935) — (Increase) decrease in interest receivable (414,492) (1,041,109) (738,934) (Increase) decrease in receivable from Adviser — — 2,210 (Increase) decrease in other assets (879) — — (Increase) decrease in prepaid expenses (180,502) (9,776) — Increase (decrease) in due to affiliate 469,453 — — Increase (decrease) in management fees payable 479,642 223,566 830,130 Increase (decrease) in payable to Adviser 1,212,997 264,809 90,446 Increase (decrease) in administrator and custodian fees payable (123,891) 44,383 186,986 Increase (decrease) in professional fees payable (166,592) 158,930 332,956 Increase (decrease) in miscellaneous payable (23,455) 25,295 (2,336) Increase (decrease) in incentive fees payable 1,303,783 849,429 199,862 Increase (decrease) in directors’ fees payable — — (187) Increase (decrease) in transfer agent fees payable 4,412 (1,320) 10,717 Increase (decrease) in interest and borrowing expenses payable (1,858,381) 3,165,191 226,942 Increase (decrease) in accrued organization costs 106,510 — (90,308) Increase (decrease) in accrued expenses and other liabilities — — (6,292) Net cash provided by (used for) operating activities (177,285,515) (197,174,227) (110,709,798) Cash flows from financing activities Issuance of common stock 61,731,629 71,594,798 32,437,843 Contribution of Non-Controlling Interest into ABPCIC Equity Holdings, LLC 1,520 — — Repurchase of common stock — (232,123) (68,122) Distributions paid (5,248,395) (2,423,066) (612,554) Financing costs paid (1,791,264) (3,760,964) (377,019) Borrowings on notes — 213,117,165 — Borrowings on credit facility 209,700,000 247,250,000 142,400,000 Repayments of credit facility (98,500,000) (315,950,000) (77,700,000) Proceeds from secured borrowings 34,901,866 — — Repayments on secured borrowings (16,031,010) Net cash provided by (used for) financing activities 184,764,346 209,595,810 96,080,148 Net increase (decrease) in cash 7,478,831 12,421,583 (14,629,650) Cash and cash equivalents, beginning of period 14,931,791 2,510,208 17,139,858 Cash and cash equivalents, end of period $ 22,410,622 $ 14,931,791 $ 2,510,208 Supplemental and non-cash financing activities Cash paid during the period for interest $ 9,196,475 $ 3,998,295 $ 995,451 Issuance of common shares pursuant to distribution reinvestment plan $ 6,356,733 $ 3,559,092 $ 1,279,671 Excise taxes paid $ — $ — $ 2,339 F-6