Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 174

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 174
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.9 27.6 Add: Carried interests compensation(2.7)(5.5)Add: General and administrative10.4 8.3 Add: Depreciation and amortization34.1 38.9 Add: Interest Expense61.4 64.7 Add: Gain (loss) on early extinguishment of debt— (0.3)Less: Other income (loss)5.2 (6.8)Add: Provision for income taxes(4.9)26.7 Less: NCI adjustments (1)(2.0)(2.1)Add:  Unconsolidated investment adjustments (2)35.4 34.2 Add:  Straight-line and above/below market rents (6)(0.1)(0.5)Less: Properties bought and sold (3)— (6.4)Less: Other properties excluded (4)(4.5)(0.8)Other Reconciling Items (5)1.0 (0.1)Same Property NOI (Net Effective)*$89.0 $86.2 

64

Same Property - NOI (Net Effective)(6)*For the Three Months Ended March 31,Same Property (Reported)20252024Office - Same Property$25.3 $25.1 Multifamily Market Rate Portfolio - Same Property51.3 49.4 Multifamily Affordable Portfolio - Same Property12.4 11.7 Same Property NOI (Net Effective)* (Reported)$89.0 $86.2 (*) This is a Non-GAAP financial measure. Please see “Non-GAAP Measures and Certain Definitions” for a further explanation and discussion.

(1) Represents rental revenue and operating expenses and hotel revenue and operating expenses attributable to non-controlling interests.

(2) Represents the Company’s share of unconsolidated investment rental revenues and net operating income, as applicable, which are within the applicable same property population.

(3) Represents properties excluded from the same property population that were purchased or sold during the applicable period.

(4) Represents properties excluded from the same property population that were not stabilized during the applicable period, or retail or industrial properties.

(5) Represents other properties excluded from the same property population that were not classified as a commercial or multifamily property within the Company’s portfolio. Also includes immaterial adjustments for foreign exchange rates, changes in ownership percentages, and certain non-re