Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 255

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 255
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 Other assets consist of the following: (Dollars in millions)September 30, 2025December 31, 2024Straight line rent receivable$34.5 $40.5 Goodwill23.9 23.9 Interest rate caps and swaps5.3 12.9 Prepaid expenses14.6 14.0 Hedge assets1.7 4.9 Deferred taxes, net6.2 7.0 Right of use asset, net5.4 10.1 Leasing commissions, net of accumulated amortization of $16.1 and $13.5 at September 30, 2025 and December 31, 2024, respectively7.6 7.9 Furniture and equipment net of accumulated depreciation of $21.7 and $21.7 at September 30, 2025 and December 31, 2024, respectively3.7 5.3 Above-market leases, net of accumulated amortization of $39.8 and $38.5 at September 30, 2025 and December 31, 2024, respectively1.0 1.4 Other15.7 13.1 Other assets, net$119.6 $141.0 Right of use asset, net    The Company, as a lessee, has five office leases and one ground lease, 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)$0.4 20261.7 20271.7 20281.7 20291.7 Thereafter10.4 Total undiscounted rental payments17.6 Less imputed interest(12.2)Right of use asset, net$5.4 

NOTE 8—MORTGAGE DEBT

    The following table details mortgage debt