Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 111

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 111
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 made in the open market, in privately negotiated transactions, through the net settlement of the Company’s restricted stock grants or otherwise, with the amount and timing of repurchases dependent on market conditions and subject to the company’s discretion.     During the three months ended March 31, 2025, Kennedy Wilson did not repurchase any shares under the stock repurchase program.  During the three months ended March 31, 2024, Kennedy Wilson repurchased and retired 882,454 shares on the open market for $7.5 million under the stock repurchase program.         Generally, upon vesting, the restricted stock granted to employees is net share-settled such that the Company will withhold shares with value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes and remit the cash to the appropriate taxing authorities.  The restricted shares that vested during three months ended March 31, 2025 and 2024 were net-share settled. The total shares withheld during the three months ended March 31, 

23

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

2025 and 2024 were 712,446 shares and 129,011 shares, respectively.  During the three months ended March 31, 2025 and 2024, total payments for the employees’ tax obligations to the taxing authorities for the shares which were net-share settled were $6.7 million and $1.6 million, respectively.  These activities are reflected as a financing activity within Kennedy Wilson's consolidated statements of cash flows.    Accumulated Other Comprehensive (Loss) Income    The following table summarizes the changes in each component of accumulated other comprehensive (loss) income, net of taxes from December 31, 2024 to March 31, 2025:(Dollars in millions)Foreign Currency TranslationCurrency Derivative Contracts Interest Rate SwapsTotal Accumulated Other Comprehensive Loss(1)Balance at December 31, 2024$(156.6)$105.8 $1.6 $(49.2)Unrealized gains (losses), arising during the period27.2 (13.9)— 13.3 Deferred taxes on unrealized (gains) losses, arising during the period(0.5)2.0 — 1.5 Noncontrolling interests(0.2)— — (0.2)Balance at March 31,