Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 333

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 333
---
 for definitions and discussion of Adjusted Net Income.

Net Operating Income

2025QTDYTDConsolidated PortfolioCo-Investment PortfolioConsolidated PortfolioCo-Investment PortfolioNet income (loss)  $5.6 $(0.2)$(24.0)$11.2 Add: Provision for (benefit from) income taxes4.4 — (0.5)— Add: Loss (income) from unconsolidated investments0.2 — (11.2)— Less: Gain on sale of real estate, net(1)(55.1)— (54.3)— Add: Interest expense62.5 33.3 123.9 65.4 Add: Loss on early extinguishment of debt2.1 — 2.1 — Add: Other loss5.6 9.6 10.8 15.7 Less: Sale of real estate(1)— — — (16.6)Less: Investment management(36.4)— (61.4)— Less: Other(0.3)— (0.5)— Less: Loans(5.7)— (11.5)— Add: Carried interests— 2.0 — 10.2 Add: Cost of real estate sold(1)— — — 17.7 Add: Compensation and related32.3 — 59.2 — Add: Carried interests expense(0.6)— (3.3)— Add: General and administrative 8.8 — 19.2 — Add: Depreciation and amortization 34.5 0.9 68.6 1.8 Add: Fair value adjustments— 7.5 — (1.1)Less: NCI adjustments(2.0)— (4.2)— Net Operating Income$55.9 $53.1 $112.9 $104.3 

(1) The Company’s joint ventures in its Co-Investment business segment predominantly acquire and hold and may ultimately dispose of operating properties which are presented by the Company as net gain or loss on disposition under ASC Topic 606, because the disposition is not considered an “output of the entity’s ordinary activities.” Certain joint ventures in the same business segment, however, dispose of non-operating properties (such