Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 92

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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ingOperatingInvestingOperatingInvestingOperatingInvestingWestern U.S.$8.6 $0.1 $2.3 $— $— $— $0.6 $6.2 $11.5 $6.3 Ireland2.7 0.1 1.4 — — — — — 4.1 0.1 United Kingdom— — — — — — 0.4 — 0.4 — Total$11.3 $0.2 $3.7 $— $— $— $1.0 $6.2 $16.0 $6.4 Operating distributions resulted from operating cash flow generated by the joint venture investments that have been distributed to the Company. Investing distributions related to the redemption of interests in hedge fund investments that the Company holds.Income (Loss) from Unconsolidated Investments    The following table presents (loss) income from unconsolidated investments recorded by Kennedy Wilson during the three months ended March 31, 2025 and 2024:Three Months Ended March 31,(Dollars in millions)20252024Income from unconsolidated investments - operating performance$10.7 $7.8 Income from unconsolidated investments - fair value8.9 1.9 Loss from unconsolidated investments - carried interests Funds(5.3)(14.9)Loss from unconsolidated investments - carried interests co-investments(2.9)(1.5)$11.4 $(6.7)    The increase in income from unconsolidated investments related to the following items: (i) increase in rental operations due to the growth of our Co-Investment Portfolio and (ii) improved hotel operations at Kona Village as the property moves towards stabilization. These increases were offset by lower gains on sale of homes at Kohaniki and higher interest expense due to higher mortgage balances from the increase in investments in the Co-Investment Portfolio.   During the three months ended March 31, 2025, the Company recorded fair value increases with respect to (i) non-cash fair value gains on multifamily assets in Western United States and Ireland from increased NOI at the properties (ii) fair value increases on VHH due to increases in NOI as well and (iii) foreign exchange gains as