Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 143

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 143
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 benefit is primarily related to non-deductible executive compensation under IRC Section 162(m), an increase to the valuation allowance recorded against certain deferred tax assets, and deferred foreign tax charges incurred in Ireland and the UK that are not currently creditable in the US.     On July 4, 2025, the One Big Beautiful Bill Act was signed into law in the U.S. which contains a broad range of tax reform provisions affecting businesses. The Company is evaluating the full effect of the legislation on its effective tax rate and financial statements.

33

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

NOTE 15—GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS 

    The following consolidating financial information and condensed consolidating financial information include:    (1) Condensed consolidating balance sheets as of September 30, 2025 and December 31, 2024; consolidating statements of operations for the three and nine months ended September 30, 2025 and 2024, of (a) Kennedy-Wilson Holdings, Inc., as the parent, (b) Kennedy-Wilson, Inc., as the subsidiary issuer, (c) the guarantor subsidiaries, (d) the non-guarantor subsidiaries and (e) Kennedy-Wilson Holdings, Inc. on a consolidated basis; and    (2) Elimination of entries necessary to consolidate Kennedy-Wilson Holdings, Inc., as the parent, with Kennedy-Wilson, Inc. and its guarantor and non-guarantor subsidiaries.     Kennedy Wilson owns 100% of all of the guarantor subsidiaries, and, as a result, in accordance with Rule 3-10(d) of Regulation S-X promulgated by the SEC, no separate financial statements are required for these subsidiaries as of and for the three and nine months ended September 30, 2025 or 2024.

34

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

CONDENSED CONSOLIDATING BALANCE SHEETAS OF SEPTEMBER 30, 2025(Dollars in millions)

ParentKennedy-Wilson, Inc.Guarantor Subsidiaries Non-guarantor SubsidiariesEliminationConsolidated TotalAssetsCash and cash equivalents$— $196.0 $102.4 $84.2 $— $382.