Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 117

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 117
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 has been elected) as of September 30, 2025:(Dollars in millions)Level 1Level 2Level 3TotalUnconsolidated investments$— $— $1,697.7 $1,697.7 Net currency derivative contracts— (38.8)— (38.8)Total$— $(38.8)$1,697.7 $1,658.9     The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2024:(Dollars in millions)Level 1Level 2Level 3TotalUnconsolidated investments$— $— $1,884.4 $1,884.4 Net currency derivative contracts— (1.2)— (1.2)Total$— $(1.2)$1,884.4 $1,883.2 Unconsolidated Investments        Kennedy Wilson elected to use the fair value option for 73 unconsolidated co-investments to more accurately reflect the timing of the value created in the underlying investments and report those results in current operations.  Kennedy Wilson's investment balance in the FV Option investments was $1,583.0 million and $1,787.7 million at September 30, 2025 and December 31, 2024, respectively, which is included in unconsolidated investments in the accompanying balance sheets.    Additionally, Kennedy Wilson records its investments in its Funds based upon the net assets that would be allocated to its interests in the Funds, assuming the Funds were to liquidate their investments at fair value as of the reporting date.  Kennedy Wilson’s investment balance in the Funds was $114.7 million and $96.7 million at September 30, 2025 and December 31, 2024, respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets.  See Note 4 for more information on the fluctuations for these investments.As of September 30, 2025, there were cumulative fair value gains on investments held of $277.9 million.    In estimating fair value of real estate held by the Funds and the 73 FV Option investments, the Company considers significant unobservable inputs to be the capitalization and discount rates. The following table presents