Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 125

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 125
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14.4 million loan balance at the Company's share. The Company did not recognize any gain or loss as the fair value of the underlying real estate approximated the loan balance.    

For the three and six months ended June 30, 2025, the Company recorded a $2.6 million and $3.1 million credit loss reserve, and for the three and six months ended June 30, 2024, the Company recorded a $3.0 million and $8.5 million credit loss reserve, respectively, in other income. See Note 2 for more detail on CECL reserves.  

21

Kennedy-Wilson Holdings, Inc.Notes to Consolidated Financial Statements(Unaudited)

NOTE 7—OTHER ASSETS, NET

    Other assets consist of the following: (Dollars in millions)June 30, 2025December 31, 2024Straight line rent receivable$36.1 $40.5 Goodwill23.9 23.9 Interest rate caps and swaps7.3 12.9 Prepaid expenses10.2 14.0 Hedge assets0.5 4.9 Deferred taxes, net6.2 7.0 Right of use asset, net10.1 10.1 Leasing commissions, net of accumulated amortization of $15.3 and $13.5 at June 30, 2025 and December 31, 2024, respectively7.9 7.9 Furniture and equipment net of accumulated depreciation of $21.7 and $21.7 at June 30, 2025 and December 31, 2024, respectively3.9 5.3 Above-market leases, net of accumulated amortization of $40.4 and $38.5 at June 30, 2025 and December 31, 2024, respectively1.1 1.4 Other15.2 13.1 Other assets, net$122.4 $141.0 Right of use asset, net    The Company, as a lessee, has five office leases and two ground leases, 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