Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 142

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 142
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 EBITDA5.2 Net loss(77.4)Net loss attributable to noncontrolling interests0.4 Preferred dividends(32.6)Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders$(109.6)(1)Includes fees eliminated in consolidation between Consolidated and Co-Investments segments and noncontrolling interests ("NCI") items such as net (income) loss to noncontrolling interests and EBITDA adjustments associated with NCI

32

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

(Dollars in millions)Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Segment revenue$116.3 $127.0 $379.8 $395.0 Other revenue0.1 0.5 0.6 0.9 Total consolidated revenue$116.4 $127.5 $380.4 $395.9 (Dollars in millions)September 30, 2025December 31, 2024Total assetsConsolidated$4,319.7 $4,591.6 Co-investment2,122.4 2,273.5 Non-segment256.1 96.0 Total assets$6,698.2 $6,961.1 

NOTE 14—INCOME TAXES 

    The Company derives a significant portion of its income from the rental and sale of real property. As a result, a substantial portion of its foreign earnings is subject to U.S. taxation under certain provisions of the Internal Revenue Code of 1986, as amended ("IRC"), applicable to controlled foreign corporations (known as the "Subpart F rules"). In determining the quarterly provisions for income taxes, the Company calculates income tax expense based on actual year-to-date income and statutory tax rates. The year-to-date income tax expense reflects the impact of foreign operations and income allocated to noncontrolling interests which is generally not subject to corporate tax.    During the nine months ended September 30, 2025, the Company generated pre-tax book loss of $31.7 million related to its global operations and recorded a tax provision of  $2.5 million. compared to an expected tax benefit, based on the U.S. statutory tax rate, of $6.6 million. The difference between the recorded tax expense and the expected tax