Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 64

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 64
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 ownership share is excluded from Co-Investment NOI.

78

2023QTDYTDConsolidated PortfolioCo-Investment PortfolioConsolidated PortfolioCo-Investment PortfolioNet loss $(64.1)$(74.0)$(45.5)$(69.7)Less: Benefit from income taxes(19.7)(0.5)(13.3)(0.3)Add: Loss from unconsolidated investments74.0 — 69.7 — Less: Gain on sale of real estate, net(1)(30.4)— (138.6)— Add: Interest expense64.2 25.9 192.5 68.9 Less: Loss on early extinguishment of debt— — 1.6 — Less: Other (income) loss(3.2)9.2 (24.5)14.9 Less: Sale of real estate— (1.2)— (11.7)Less: Loans(6.1)— (14.5)— Less: Investment management(16.2)— (47.2)— Less: Carried interests— 17.9 — 36.2 Add: Cost of real estate sold— 0.7 — 6.5 Add: Compensation and related31.1 — 98.7 — Add: Carried interests expense(6.0)— (5.5)— Add: General and administrative 8.4 — 25.5 — Add: Depreciation and amortization 38.8 0.8 118.3 2.4 Less: Fair value adjustments— 61.8 — 76.6 Less: NCI adjustments(2.0)— (5.9)— Net Operating Income$68.8 $40.6 $211.3 $123.8 

(1) The Company’s joint ventures in its Co-Investment business segment predominantly acquire and hold and may ultimately dispose of operating properties which are presented by the Company as net gain or loss on disposition under ASC Topic 606, because the disposition is not considered an “output of the entity’s ordinary activities.” Certain joint ventures in the same business segment, however, dispose of non-operating properties (such as land and condominiums) from time-to-time, and such sales are an “output of the entity’s