Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 271

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 271
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Total Liabilities3,025.7 — 2,299.4 5,325.1 Equity1,481.8 2,273.5 (2,119.3)1,636.0 Total liabilities and equity$4,507.5 $2,273.5 $180.1 $6,961.1 

Same property analysis

The tables below are reconciliations of non-GAAP measures included in the Company's same property analysis to their most comparable GAAP measures.

63

Same Property - Revenue(6)*For the Three Months Ended March 31,20252024Total Revenue$128.3 $136.4 Less: Investment management fees(25.0)(21.3)Less: Loans(5.8)(8.1)Less: Other(0.2)(0.3)Less: NCI adjustments (1)(3.8)(3.7)Add:  Unconsolidated investment adjustments (2)50.8 49.4 Add:  Above/below market rents (6)(0.1)(0.5)Less: Reimbursement of recoverable operating expenses(9.9)(8.4)Less: Properties bought and sold (3)— (16.4)Less: Other properties excluded (4)(9.7)(3.8)Other Reconciling Items (5)0.4 (1.1)Same Property$125.0 $122.2 

Same Property - Revenue(6)*For the Three Months Ended March 31,Same Property (Reported)20252024Office - Same Property$30.1 $30.1 Multifamily Market Rate Portfolio - Same Property75.5 73.7 Multifamily Affordable Portfolio - Same Property19.4 18.4 Same Property$125.0 $122.2 

(*) This is a Non-GAAP financial measure. Please see “Non-GAAP Measures and Certain Definitions” for a further explanation and discussion.

(1) Represents rental revenue and hotel revenue attributable to non-controlling interests.

(2) Represents the Company’s share of unconsolidated investment rental revenues, as applicable, which are within the applicable same property population.

(3) Represents properties excluded from the same property population that were purchased or sold during the applicable period.

(4) Represents properties excluded from the same property population that were not