Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 168

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 168
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26.7 (3.9)8.2 2.7 Kennedy Wilson's share of taxes included in unconsolidated investments— 0.2 0.2 — — Share-based compensation6.3 5.2 7.1 7.1 7.7 EBITDA attributable to noncontrolling interests(2.1)(1.9)(6.0)(1.4)(1.6)Adjusted EBITDA(1)$98.2 $203.2 $90.9 $160.1 $127.6 

(1) See "Non-GAAP Measures and Certain Definitions" for definitions and discussion of Adjusted EBITDA.

Three Months Ended March 31,(dollars in millions)20252024202320222021Net (loss) income     $(29.6)$37.7 $(28.7)$40.0 $(1.6)Non-GAAP adjustments:Add back (less):Depreciation and amortization34.1 38.9 39.4 43.3 44.4 Kennedy Wilson's share of depreciation and amortization included in unconsolidated investments0.9 0.9 0.8 1.1 1.7 Share-based compensation6.3 5.2 7.1 7.1 7.7 Preferred dividends(10.9)(10.9)(7.9)(5.3)(4.3)Net income attributable to the noncontrolling interests, before depreciation and amortization(1.5)(1.3)(5.4)(0.8)(0.9)Adjusted Net (Loss) Income(1)$(0.7)$70.5 $5.3 $85.4 $47.0 

(1)  See "Non-GAAP Measures and Certain Definitions" for definitions and discussion of Adjusted Net Income.

59

Net Operating Income

2025YTDConsolidated PortfolioCo-Investment PortfolioNet (loss) income  $(29.6)$11.4 Less: Benefit from income taxes(4.9)— Less: Income from unconsolidated investments(11.4)— Add: Loss on sale of real estate, net(1)0.8 — Add: Interest expense61.4 32.1 Add: Other loss