Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 210

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 210
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 in millions)20252024202320222021Net (loss) income     $(24.0)$(10.6)$18.6 $39.1 $219.6 Non-GAAP adjustments:Add back (less):Depreciation and amortization68.6 75.3 79.5 86.6 86.1 Kennedy Wilson's share of depreciation and amortization included in unconsolidated investments1.8 2.0 1.6 2.0 3.1 Share-based compensation12.8 11.2 14.4 14.4 15.0 Preferred dividends(21.8)(21.8)(16.3)(13.1)(8.6)Net income attributable to the noncontrolling interests, before depreciation and amortization(3.6)(2.4)(6.5)(2.2)(3.6)Adjusted Net Income(1)$33.8 $53.7 $91.3 $126.8 $311.6 

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

Net Operating Income

2025QTDYTDConsolidated PortfolioCo-Investment PortfolioConsolidated PortfolioCo-Investment PortfolioNet income (loss)  $5.6 $(0.2)$(24.0)$11.2 Add: Provision for (benefit from) income taxes4.4 — (0.5)— Add: Loss (income) from unconsolidated investments0.2 — (11.2)— Less: Gain on sale of real estate, net(1)(55.1)— (54.3)— Add: Interest expense62.5 33.3 123.9 65.4 Add: Loss on early extinguishment of debt2.1 — 2.1 — Add: Other loss5.6 9.6 10.8 15.7 Less: Sale of real estate(1)— — — (16.6)Less: Investment management(36.4)— (61.4)— Less: Other(0.3)— (0.5)— Less: Loans(5.7)— (11.5)— Add: Carried interests— 2.0 — 10