Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 340

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 340
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 items that are customarily recourse to a non-recourse carve out guarantor include, but are not limited to, the payment of real property taxes, liens which are senior to the mortgage loan and outstanding security deposits.

Capital Commitments

    As of September 30, 2025, we had unfulfilled capital commitments totaling $212.4 million to our joint venture investments and $145.2 million to our loan portfolio.  In addition to the unfunded capital commitments on our joint venture investments, we had $28.4 million of equity commitments relating to unconsolidated development projects and our UK single family platform.  In addition to the unfunded capital commitments on our joint venture investments, we had $85.6 million related 

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to future ground lease payments that run through 2085 on Kona Village.  As we identify investment opportunities in the future, we may be called upon to contribute additional capital to unconsolidated investments in satisfaction of our capital commitment obligations.

    Please refer to our Annual Report on Form 10-K for the year ended December 31, 2024 for discussion of our non-recourse carve-out guarantees arrangements, as there have been no material changes to that disclosure.

Certain Non-GAAP Measures and Reconciliations

    The table below is a reconciliation of Non-GAAP measures to their most comparable GAAP measures, for amounts relating to the three and nine months ended September 30, 2025 dated back through 2021.

Three Months Ended September 30,(dollars in millions)20252024202320222021Net (loss) income        $(10.2)$(66.8)$(64.1)$23.6 $72.5 Non-GAAP AdjustmentsAdd back (less):Interest expense58.4 66.9 64.2 57.1 45.3 Loss on early extinguishment of debt0.2 0.3 — 1.3 — Kennedy Wilson's share of interest expense included in unconsolidated investments35.1 34.3 25.8 16.6 11.2 Depreciation and amortization32.6 36.9 38.8 46.1 39.2 Kennedy Wilson's share of depreciation and amortization included in unconsolidated investments1.0 0.9 0.8 0.8 1.1 Pro