Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 4

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 4
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28.2 Total equity1,636.0 1,798.4 2,010.4 1,803.9 1,672.7 Common shares outstanding137.4 138.7 137.8 138.0 141.4 

The following table shows the historical U.S. federal income tax treatment of the Company’s common stock dividend for the years ended December 31, 2024 through 2020:  

December 31,20242023202220212020Taxable Dividend100.00 %— %37.81 %— %27.14 %Non-Taxable Return of Capital— %100.00 %62.19 %100.00 %72.86 %Total100.00 %100.00 %100.00 %100.00 %100.00 %

Business Segments

Our operations are defined by two primary business segments: our consolidated investment portfolio (the "Consolidated Portfolio") and our co-investment portfolio (the "Co-Investment Portfolio").  In addition to our two primary business segments, we have among other things, corporate overhead and unsecured corporate debt and preferred stock that is not allocated to either of our segments. 

Consolidated Portfolio

Our Consolidated Portfolio consists of the investments in real estate and real estate-related assets that we have made and consolidate on our balance sheet, primarily multifamily communities.  We typically wholly-own these assets, which have longer hold periods and accretive asset management opportunities. 

The non-GAAP table below represents a summarized balance sheet of our Consolidated Portfolio, which is held at historical depreciated cost as of December 31, 2024 and 2023.  This table does not include amounts such as corporate cash and the KWI Notes.

($ in millions)December 31, 2024December 31, 2023Cash and cash equivalents(1)$117.4 $184.2 Real estate and acquired in place lease values4,290.4 4,837.3 Accounts receivable and other assets, net99.7 146.1 Total Assets$4,507.5 $5,167.6 Accounts payable, accrued expenses and other liabilities118.7 154.3 Mortgage debt2,597.2 2,840.9 KWE unsecured bonds309.8 522.8