Company: KW
Filing Date: 2025-03-03
Form Type: 424B3
Source: 0001408100-25-000092
Chunk: 105

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-03
Form: 424B3
Chunk 105
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 the Company removes the effects of foreign currency exchange rate movements by using the reported period-end exchange rate to translate from local currency into the U.S. dollar, for both periods. Amounts are calculated using Kennedy Wilson’s ownership share in the Company’s consolidated and unconsolidated properties. Management evaluates the performance of the operating properties the Company owns and manages using a “same property” analysis because the population of properties in this analysis is consistent from period to period, which allows management and investors to analyze (i) the Company’s ongoing business operations and (ii) the revenues and expenses directly associated with owning and operating the Company’s properties and the impact to operations from trends in occupancy rates, rental rates and operating costs. Same property metrics are widely recognized measures in the real estate industry, however, other publicly-traded real estate companies may not calculate and report same property results in the same manner as the Company. Please also see “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Certain Non-GAAP Measures and Reconciliations” for a reconciliation of “same property” results to the most comparable measure reported under GAAP.

We use certain non-GAAP measures to analyze our business, including Adjusted EBITDA and Adjusted Net Income. We use these metrics for evaluating the success of our company and believe that they enhance the understanding of our operating results. A reconciliation of net income to Adjusted EBITDA and Adjusted Net Income is presented below:

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|                                                                                                                        | (Dollars in millions) | Years Ended December 31, |  2024 |     |   |   2023 |     |   |  2022 |     |   |  2021 |     |   |  2020 |
|:-----------------------------------------------------------------------------------------------------------------------|:----------------------|:-------------------------|------:|:----|:--|-------:|:----|:--|------:|:----|:--|------:|:----|:--|------:|
| Net (loss) income                                                                                                      |                       | $                        | -33.7 |     | $ | -281.4 |     | $ | 101.9 |     | $ | 336.4 |     | $ | 107.8 |
| Non-GAAP adjustments:                                                                                                  |                       |                          |       |     |   |        |     |   |       |     |   |       |     |   |       |
|