Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 92

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 92
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6 — 152.6 Hotel37.9 — 37.9 Compensation and related42.7 39.0 81.7 Carried interests compensation— (15.1)(15.1)General and administrative15.5 12.7 28.2 Other (income) loss(2.3)7.0 4.7 Other segment items (1)29.3 (0.3)29.0 Total expenses275.7 43.3 319.0 Segment Adjusted EBITDA$324.3 $(105.7)$218.6 Reconciliation of Segment Adjusted EBITDA to Net Income attributable to Kennedy-Wilson Holdings, Inc. Common ShareholdersOther revenue2.2 Compensation and related, corporate(57.7)General and administrative, corporate(7.5)Depreciation and amortization(157.8)Interest expense(259.2)Loss on early extinguishment of debt(1.6)Other loss(0.3)Benefit from income taxes55.3 Company's share of Interest, Depreciation, and Taxes included in income from unconsolidated investments(102.4)EBITDA adjustments to NCI29.0 Net loss(281.4)Net income attributable to noncontrolling interests(22.4)Preferred dividends(38.0)Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders$(341.8)

37

Kennedy Wilson Consolidated Financial Results: Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023 

Financial Highlights

GAAP net loss to common shareholders was $76.5 million and $341.8 million for the year ended December 31, 2024 and 2023, respectively.  

Adjusted EBITDA was $539.7 million for the year ended December 31, 2024, a 189% increase from $189.8 million for 2023.    Adjusted segment EBITDA was $554.0 million for the year ended December 31, 2024 and  $218.6 million for 2023.  The increase in GAAP net income to common shareholders and Adjusted EBITDA is primarily due to (i) higher levels of investment management fees (60% increase) from our real estate debt business as compared to the prior