Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 109

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 109
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losures. This ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid and will be effective for annual periods beginning after December 15, 2024. The new requirements should be applied on a prospective basis with an option to apply them retrospectively.  The Company is evaluating the impact that ASU 2023-09 will have on its consolidated financial statements and related disclosures.In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires public business entities to disclose additional information about specific expense categories in the notes to financial statements at 

12

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

interim and annual reporting periods. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027 with early adoption permitted. These requirements should be applied on a prospective basis with an option to apply them retrospectively. The Company is evaluating the impact that ASU 2024-03 will have on our consolidated financial statement disclosures.

NOTE 3—REAL ESTATE AND IN-PLACE LEASE VALUE

    The following table summarizes Kennedy Wilson's investment in consolidated real estate properties at September 30, 2025 and December 31, 2024: September 30,December 31,(Dollars in millions)20252024Land$951.9 $979.6 Buildings3,385.7 3,548.7 Building improvements412.7 466.9 In-place lease values245.9 244.3 4,996.2 5,239.5 Less accumulated depreciation and amortization(980.1)(949.1)Real estate and acquired in place lease values, net of accumulated depreciation and amortization$4,016.1 $4,290.4     Real property, including land, buildings, and building improvements are included in real estate and are generally stated at cost.  Buildings and building improvements are depreciated on a straight-line method over their estimated lives not to exceed 40 years.  Acquired in-place lease values are recorded at their estimated fair value and amortized over their respective weighted-average lease term which was 7.3 years