Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 185

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 185
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(0.6)5.2 Total segment expenses162.8 39.9 202.7 Segment Adjusted EBITDA252.3 109.6 361.9 Reconciliation of Segment Adjusted EBITDA to net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholdersOther revenue0.9 Compensation and related, corporate(30.2)General and administrative, corporate(5.3)Depreciation and amortization(112.2)Interest expense(195.4)Loss on early extinguishment of debt(0.5)Other income, corporate4.3 Provision for income taxes(4.2)Company's share of interest, depreciation, and taxes included in income from unconsolidated investments(1)(101.9)Income from unconsolidated investments excluded from Segment Adjusted EBITDA5.2 Net income(77.4)Net loss attributable to noncontrolling interests0.4 Preferred dividends(32.6)Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders$(109.6)

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Financial Highlights

    GAAP net loss to common shareholders was $68.4 million and $109.6 million for the nine months ended September 30, 2025 and 2024, respectively.  The increase in net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders for the nine months ended September 30, 2025 as compared to the same period in 2024, was primarily due to (i) higher investment management fees relating to a one-time development completion fee related to the completion of a Southern California development project, acquisition fee associated with a multifamily asset in Seattle with a new partner and increased acquisition fees in our construction loan business due to more loan closings; and (ii) fair value gains on real estate and foreign exchange movements unconsolidated investments in the current period compared to fair value losses and higher reversals of carried interest accruals as compared to the same period in 2024.  These increases were offset by (i) sales in the first quarter of 2024 generated higher gains on sale compared to the current period and (ii) lower NOI from hotel operations due to the sale of the Shelbourne hotel as compared to the same period in 2024.   

    Segment Adjusted EBITDA was $392.6 million and $361.9 million for the nine months ended September 30