Company: KW
Filing Date: 2025-03-31
Form Type: 10-K/A
Source: 0001408100-25-000099
Chunk: 14

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-31
Form: 10-K/A
Chunk 14
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 excess of the federally insured limits. No losses have been experienced related to these excess balances. The Company

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considers all highly liquid, short‑term investments with an original maturity of three months or less when purchased to be cash equivalents.

Restricted cash consists of reserves and holdbacks held by the lenders for the mortgage loans secured by the underlying properties and reserves associated with potential guarantees associated with operating deficits at properties.

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows as of December 31, 2024 and 2023:

|                                                                                                        |     | December 31, |      2024 |     |   |       2023 |
|:-------------------------------------------------------------------------------------------------------|:----|:-------------|----------:|:----|:--|-----------:|
| Cash and cash equivalents                                                                              |     | $            | 5,297,266 |     | $ |  7,093,404 |
| Restricted cash                                                                                        |     |              | 3,041,105 |     |   | 10,117,049 |
| Total cash and cash equivalents and restricted cash shown in the consolidated statements of cash flows |     | $            | 8,338,371 |     | $ | 17,210,453 |

(c) Concentration of Risk

The Company’s investments are concentrated in affordable multifamily properties located in the Western United States with the majority located in the state of Washington. Adverse conditions in the sector or geographic location would likely result in a material decline in the value of the Company’s investment.

(d) Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, and reported amounts of income and expenses. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Such estimates and assumptions are adjusted when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. The most significant estimates relate to allowance for depreciation and useful lives, deferred revenue, and contingencies.

(e) Accounts Receivable