Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 116

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 116
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 to Kennedy-Wilson Holdings, Inc. Common ShareholdersOther revenue0.3 Compensation and related, corporate(9.8)General and administrative, corporate(1.6)Depreciation and amortization(38.9)Interest expense(64.7)Gain on early extinguishment of debt0.3 Other income, corporate9.6 Provision for income taxes(26.7)Company's share of interest, depreciation, and taxes included in income from unconsolidated investments(1)(32.2)Income from unconsolidated investments excluded from Segment EBITDA1.9 Net income37.7 Net loss attributable to noncontrolling interests0.1 Preferred dividends(10.9)Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders$26.9 (1)Includes fees eliminated in consolidation between Consolidated and Co-Investments segments and noncontrolling interests ("NCI") items such as net (income) loss to noncontrolling interests and EBITDA adjustments associated with NCI

27

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

(Dollars in millions)Three Months Ended March 31,20252024Segment revenue$128.1 $136.1 Other revenue0.2 0.3 Total consolidated revenue$128.3 $136.4 (Dollars in millions)March 31, 2025December 31, 2024Total assetsConsolidated$4,730.2 $4,591.6 Co-investment2,289.9 2,273.5 Corporate137.0 96.0 Total assets$7,157.1 $6,961.1 

NOTE 14—INCOME TAXES 

    The Company derives a significant portion of its income from the rental and sale of real property. As a result, a substantial portion of its foreign earnings is subject to U.S. taxation under certain provisions of the Internal Revenue Code of 1986, as amended ("IRC"), applicable to controlled foreign corporations (known as the "Subpart F rules"). In determining the quarterly provisions for income taxes, the Company calculates income tax expense based on actual year-to-date income and statutory tax rates. The year-to-date income tax expense reflects the impact of foreign operations and income allocated to noncontrolling interests which is generally not subject to corporate tax.