Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 321

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 321
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 financial statements is $17.4 million, of which $4.0 million was accrued as carried interests compensation expense as part of the Carried Interests Program.  During the six months ended June 30, 2025 and 2024, the Company recorded a reversal of $3.3 million and $10.0 million, respectively related to this program.

The Company also maintains a global employee co-investment program (the “Co-Investment Program”). The named executive officers are not participants of the Co-Investment Program. Under the Co-Investment Program, certain employees are provided the opportunity to invest alongside the Company in its investments (in all future investments and certain recently acquired transactions). The amount of funds that the employees, as a group, can invest in the Company’s investments is capped at 1.5% of the Company’s equity. Generally (with certain exceptions), participants in the Co-Investment Program will make commitments to the program on an annual basis and invest in every investment made by the Company (investments that such employee has an active role in acquiring and managing) in the applicable year.  

Cash Flows 

    The following table summarizes the cash provided by or used in our operating, investing and financing activities for the six months ended June 30, 2025 and 2024.

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Six Months Ended June 30,(Dollars in millions)20252024Net cash (used in) provided by operating activities$(9.9)$31.1 Net cash provided by investing activities462.1 173.6 Net cash used in financing activities(364.4)(151.9)

Operating

Our cash flows from operating activities are primarily dependent upon operations from consolidated properties, the operating distributions and fees from our Co-Investment Platform, general and administrative costs, compensation and interest expense payments.  Net cash flows used in operating activities totaled $9.9 million and cashflows provided by operating activities were $31.1 million for the six months ended June 30, 2025 and 2024, respectively.  The six months ended June 30, 2025 cash flows used in operations were primarily due to the payment of discretionary compensation and interest payments. The increase in cash used in operations as compared to the prior period is due to the receipt of restricted cash amounts relating to escrow amounts in the Construction Loan Portfolio during the six months ended June 30, 2024 as we took servicing of the debt platform in house.

Investing