Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 272

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 272
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 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-recurring income and expenses.

Same Property - NOI (Net Effective)(6)*For the Three Months Ended March 31,20252024Net Income$(29.6)$37.7 Less: Investment management fees(25.0)(21.3)Less: Loans(5.8)(8.1)Less: Other(0.2)(0.3)Less: Total Income from unconsolidated investments(11.4)6.7 Less: Gain on sale of real estate, net0.8 (106.4)Add: Compensation and related26.9 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.