Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 99

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 99
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 accompanying consolidated balance sheets.     The table below details the currency derivative contracts Kennedy Wilson held as of March 31, 2025 and the activity during the three months ended March 31, 2025.  (Dollars, Euros and British Pound Sterling in millions)March 31, 2025Three Months Ended March 31, 2025Currency HedgedUnderlying CurrencyNotionalHedge AssetsHedge LiabilitiesOCI (Losses) Gains     Income Statement Losses Interest ExpenseCash PaidOutstandingEURUSD€155.0 $— $9.6 $(0.3)$(5.3)$0.4 $— EUR(1)GBP€40.0 — 0.4 0.2 — — — EUR(1)(2)GBP€300.0 — — (4.5)— — — GBPUSD£380.0 1.8 6.5 (8.2)(1.4)0.1 — Total Outstanding1.8 16.5 (12.8)(6.7)0.5 — SettledGBPUSD— — (1.0)— — (2.1)Total Settled— — (1.0)— — (2.1)Total $1.8 $16.5 $(13.8)(3)$(6.7)$0.5 $(2.1)(1) Hedge is held by KWE on its wholly-owned subsidiaries.(2) Relates to KWE's Euro Medium Term Note.  See discussion in Note 10.(3) Excludes deferred tax benefit of $2.0 million.    The amounts recorded through other comprehensive income (loss) will remain in accumulated other comprehensive income (loss) until the underlying investments that they were hedging are substantially liquidated by Kennedy Wilson. The currency derivative contracts discussed above are offset by foreign currency translation of the Company's foreign net assets.  For the three months ended March 31, 2025, Kennedy Wilson had a gross foreign currency translation gain on its net assets of $27.2 million.  As of March 31, 2025, the Company has hedged 96% of the net asset carrying value of its euro denominated investments and 83% of the net asset carrying value of its GBP denominated