Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 248

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 248
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4.9 Deferred taxes, net6.2 7.0 Right of use asset, net10.1 10.1 Leasing commissions, net of accumulated amortization of $15.3 and $13.5 at June 30, 2025 and December 31, 2024, respectively7.9 7.9 Furniture and equipment net of accumulated depreciation of $21.7 and $21.7 at June 30, 2025 and December 31, 2024, respectively3.9 5.3 Above-market leases, net of accumulated amortization of $40.4 and $38.5 at June 30, 2025 and December 31, 2024, respectively1.1 1.4 Other15.2 13.1 Other assets, net$122.4 $141.0 Right of use asset, net    The Company, as a lessee, has five office leases and two ground leases, which qualify as operating leases, with remaining lease terms of 1 to 234 years.  The payments associated with office space leases have been discounted using the Company's incremental borrowing rate which is based on collateralized interest rates in the market and risk profile of the associated lease.  For ground leases the rate implicit in the lease was used to determine the right of use asset.       The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted to calculate the right of use asset and related lease liability for its operating leases in which we are the lessee:(Dollars in millions)MinimumRental Payments2025 (remainder)$0.6 20261.5 20271.4 20281.4 20291.4 Thereafter31.8 Total undiscounted rental payments38.1 Less imputed interest(28.0)Right of use asset, net$10.1 

NOTE 8—MORTGAGE DEBT

    The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of June 30, 2025 and December 31, 2024:

22

Kennedy-Wilson Holdings, Inc.Notes to Consolidated Financial Statements(Unaudited)

(Dollars in millions)Carrying amount of mortgage debt as of (1)Mortgage Debt by Product TypeRegionJune 30, 2025December 31, 2024