Company: KW
Filing Date: 2025-03-03
Form Type: 424B3
Source: 0001408100-25-000092
Chunk: 121

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-03
Form: 424B3
Chunk 121
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| Cash paid for:                                                                          |                       |                         |       |     |   |       |     |   |       |
| Interest(1)(2)                                                                          |                       | $                       | 256.1 |     | $ | 252.0 |     | $ | 214.4 |
| Income taxes                                                                            |                       |                         |   9.2 |     |   |  21.8 |     |   |  19.9 |
| Cash received from consolidated and unconsolidated asset sales and loan repayments, net |                       |                         | 600.9 |     |   | 376.1 |     |   | 369.8 |
| Cash received on interest rate hedges                                                   |                       |                         |  26.0 |     |   |  24.0 |     |   |   0.9 |

(1) $1.1 million, $1.4 million, and $4.0 million attributable to non-controlling interests for the years ended December 31, 2024, 2023, and 2022, respectively.

(2) Net of $4.5 million, $5.0 million, and $3.3 million of capitalized interest for the years ended December 31, 2024, 2023 and 2022, respectively.

As of December 31, 2024, 2023, and 2022, we have $94.5 million, $69.6 million, and $21.4 million, respectively, of restricted cash, which is included in cash and cash equivalents, that primarily relates to lender reserves associated with consolidated mortgages that we hold on properties and reserves held on loans in the newly acquired Construction Loan Portfolio (as defined herein) on behalf of the borrowers under such loans. These reserves typically relate to interest, tax, insurance and future capital expenditures at the properties and on our loan investments.

Supplemental disclosure of non-cash investing and financing activities:

During the year ended December 31, 2024, the Company also sold a previously consolidated multifamily property into its Vintage Housing Holdings ("VHH") platform, with the Company retaining an interest in the property through its investment in VHH. The transaction was treated as a non-cash activity with the remaining share of real estate, mortgage loan and other balance sheet items being