Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 193

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 193
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 periods ended December 31, 2024, 2023 and 2022, respectively. 

The Company provides investment and property management and other property related services on properties in which it also has an ownership interest.  Fees earned on consolidated properties are eliminated in consolidation and fees on unconsolidated investments are eliminated for the portion that relate to the Company's ownership interest.  During the years ended December 31, 2024, 2023 and 2022 fees of $0.9 million, $0.3 million and $0.4 million, respectively, were eliminated in consolidation.  

NOTE 12—INCOME TAXES 

The table below represents a geographical breakdown of book (loss) income before the provision for (benefit from) income taxes: 

90

Table of ContentsKennedy-Wilson Holdings, Inc.Notes to Consolidated Financial Statements—(continued)December 31, 2024 2023 and 2022

 Year ended December 31,(Dollars in millions)202420232022Domestic$(40.3)$(238.8)$88.5 Foreign16.8 (97.9)49.6 Total$(23.5)$(336.7)$138.1 The U.S. and foreign components of provision for income taxes consisted of the following components.  However, it is not reflective of the cash tax results of the Company.  Year ended December 31,(Dollars in millions)202420232022FederalCurrent$— $— $— Deferred(11.8)(66.0)3.6 (11.8)(66.0)3.6 StateCurrent5.6 0.7 0.3 Deferred(1.1)0.8 11.3 4.5 1.5 11.6 ForeignCurrent15.0 9.9 17.6 Deferred2.5 (0.7)3.4 17.5 9.2 21.0 Provision for (benefit from) income taxes$10.2 $(55.3)$36.2     A reconciliation of the statutory federal income tax rate of 21% with Kennedy Wilson’s effective income tax rate is as follows: Year ended December 31,(Dollars in millions)202420232022Tax computed at the statutory rate$(4.9)$(70.