Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 61

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 61
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.9 Preferred dividends(10.8)(10.8)(10.8)(7.9)(4.3)Net income attributable to the noncontrolling interests, before depreciation and amortization(1.1)(1.0)(18.7)(1.2)(3.5)Adjusted Net Income (Loss)(1)$18.0 $(34.7)$(46.7)$68.7 $111.9 

(1)  See "Non-GAAP Measures and Certain Definitions" for definitions and discussion of Adjusted Net Income.

Nine Months Ended September 30,(dollars in millions)20252024202320222021Net (loss) income     $(34.2)$(77.4)$(45.5)$62.7 $292.1 Non-GAAP adjustments:Add back (less):Depreciation and amortization101.2 112.2 118.3 132.7 125.3 Kennedy Wilson's share of depreciation and amortization included in unconsolidated investments2.8 2.9 2.4 2.8 4.2 Share-based compensation19.3 17.3 21.7 21.7 21.9 Preferred dividends(32.6)(32.6)(27.1)(21.0)(12.9)Net income attributable to the noncontrolling interests, before depreciation and amortization(4.7)(3.4)(25.2)(3.4)(7.1)Adjusted Net Income(1)$51.8 $19.0 $44.6 $195.5 $423.5 

(1)  See "Non-GAAP Measures and Certain Definitions" for definitions and discussion of Adjusted Net Income.

Net Operating Income

76

2025QTDYTDConsolidated PortfolioCo-Investment PortfolioConsolidated PortfolioCo-Investment PortfolioNet (loss) income   $(10.2)$34.5 $(34.2)$45.7 Add: Provision for (benefit from) income taxes3.0 — 2.5 — Less: (Income) loss  from unconsolidated investments(34.5)— (45.7)— Less: Gain on sale of real estate, net(1)(11.1)(17.1)(65.4)(17.1)Add: Interest expense58