Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 218

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 218
---
 Topic 606. Accordingly the sale of such real estate is presented by the Company on a gross basis (sale of real estate and cost of real estate sold), and, therefore, the portion of the same that is not attributable to the Company’s ownership share is excluded from Co-Investment NOI.

80

2021QTDYTDConsolidated PortfolioCo-Investment PortfolioConsolidated PortfolioCo-Investment PortfolioNet income$72.5 $143.1 $292.1 $213.9 Add: Provision for income taxes30.6 — 98.2 — Less: Income from unconsolidated investments(143.1)— (213.9)— Less: Gain on sale of real estate, net(1)(15.0)— (417.0)3.1 Add: Interest expense45.3 11.2 141.4 27.9 Add: Loss on early extinguishment of debt— — 38.6 — Less: Other (income) loss(0.3)5.0 3.7 12.4 Less: Sale of real estate(1)— (15.1)— (34.2)Less: Loans(2.4)— (6.2)— Less: Investment management(9.7)— (27.1)— Less: Carried interests— (46.3)— (62.0)Add: Cost of real estate sold(1)— 14.4 — 31.4 Add: Compensation and related37.3 — 120.3 — Add: Carried interests expense2.9 — 3.2 — Add: General and administrative 8.9 — 24.7 — Add: Depreciation and amortization 39.2 1.2 125.3 4.5 Less: Fair value adjustments— (78.9)— (109.1)Less: NCI adjustments(1.6)— (4.9)— Net Operating Income$64.6 $34.6 $178.4 $87.9 

(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