Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 29

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 29
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controlling interests and tax26.5 (17.3)Amounts reclassified out of accumulated other comprehensive loss during the period— 5.2 Unrealized foreign currency derivative contract (loss) gain, net of noncontrolling interests and tax(11.9)9.8 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders$(26.2)$24.6 

The main currencies that we have exposure to are the euro and pound sterling.  The table below represents the change in 

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rates over the three months ended March 31, 2025 and 2024 as compared to the U.S. Dollar:

Three Months Ended March 31,20252024Euro4.5 %(2.2)%GBP3.2 %(0.9)%

Comprehensive (loss) income, net of taxes and noncontrolling interests, for the three months ended March 31, 2025 and 2024 was a loss of $26.2 million and income $24.6 million, respectively.  The Company experienced net unrealized gains on foreign currency through other comprehensive income for the period due to the strengthening of the Euro and GBP against the US Dollar in the period.  Hedge losses were due to hedges the Company held on GBP investments and KWE held on its Euro denominated investments. 

Liquidity and Capital Resources

    Our liquidity and capital resources requirements include acquisitions of real estate and real estate related assets, funding development projects, loan draws (particularly on our construction loan business), capital expenditures for consolidated real estate and unconsolidated investments, working capital needs, interest and principal payments on our debt and dividends to our common and preferred shareholders. We finance these activities with internally generated funds through general operations including rental income, interest income, asset management fees, asset sales, borrowings under our revolving line of credit, sales of equity (common and preferred) and debt securities and cash out refinancings to the extent they are available and fit within our overall portfolio leverage strategy. Our investments in real estate are typically financed with equity from our balance sheet, third party equity and mortgage loans secured by such real estate. These mortgage loans are generally non-recourse in that, in the event of default, recourse will be limited to the mortgaged property serving as collateral, subject to limited customary exceptions. In some cases, we guarantee a portion of the loan related to a consolidated property or an unconsolidated investment,