Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 319

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 319
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 the nine months ended September 30, 2025 as compared to $25.1 million for the nine months ended September 30, 2024 due to lower discretionary and deferred compensation accruals in the current period.   

General and administrative expenses were $9.1 million for the nine months ended September 30, 2025 as compared to $10.8 million for the nine months ended September 30, 2024 which was driven by reduced travel and IT costs. 

Other loss was $4.0 million for the nine months ended September 30, 2025 as compared to other loss of $0.3 million for the nine months ended September 30, 2024. We had mark to market fair value decreases of $1.6 million on the Company's undesignated interest rate caps and swap contracts for the nine months ended September 30, 2025 as compared to $2.8 million increases in the prior period.  We had realized foreign exchange losses of $1.7 million for the nine months ended September 30, 2025 as compared to $3.7 million increases in the prior period. 

The following items are not in Segment Adjusted EBITDA above for Consolidated portfolio but are in net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders:

Depreciation and amortization decreased to $101.2 million during the nine months ended September 30, 2025 as compared to $112.2 million for the nine months ended September 30, 2024 as a result of the Company being a net seller of assets over the last year.

Interest expense was $108.6 million during the nine months ended September 30, 2025 as compared to $120.6 million for the nine months ended September 30, 2024. The decrease is primarily due to decreases in consolidated mortgage balance over 2024 and 2025 due to asset sales over the current and prior periods.

Co-Investment Portfolio Segment

Investment Management

    We receive asset management fees for managing assets on behalf of our partners on our Co-Investment Portfolio assets.  During the nine months ended September 30, 2025, we had fees recorded through revenues of $84.8 million as compared to $69.0 million from the same period in 2024. During the nine months ended September 30, 2025, the increase primarily related to higher origination fees that we