Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 194

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 194
---
.5 million of fair value losses. During the nine months ended September 30, 2025 we had $2.0 million in dead deal costs.        

Our income tax provision was $2.5 million for the nine months ended September 30, 2025 as compared to $4.2 million for the same period in 2024. Our effective tax rate for the nine months ended September 30, 2025 was (7.9)% as compared to an effective tax rate of (5.7)% for the same period in 2024.  Significant items impacting the quarterly tax provision include: tax charges associated with non-deductible executive compensation under IRC Section 162(m) and additional valuation allowance against the Company's deferred tax asset on the outside basis difference of its investment in KWE.

    Other Comprehensive (Loss) Income 

The two major components that drive the change in other comprehensive loss are the change in foreign currency rates and the gain or loss of any associated foreign currency hedges. Please refer to the Currency Risk - Foreign Currencies section in Item 3 for a discussion of our risks relating to foreign currency and our hedging strategy.  Below is a table that details the activity for the nine months ended September 30, 2025 and 2024.  

Nine Months Ended September 30,(Dollars in millions)20252024Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders$(68.4)$(109.6)Unrealized foreign currency translation gain, net of noncontrolling interests and tax73.0 17.2 Amounts reclassified out of accumulated other comprehensive loss during the period3.0 5.1 Unrealized foreign currency derivative contract (loss) gain, net of noncontrolling interests and tax(41.5)9.8 Comprehensive loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders$(33.9)$(77.5)

The main currencies that we have exposure to are the euro and pound sterling.  The table below represents the change in 

67

rates over the nine months ended September 30, 2025 and 2024 as compared to the U.S. Dollar:

Nine Months Ended September 30,20252024Euro13.5 %1.0 %GBP7.5 %5.2 %

Comprehensive loss, net of taxes and noncontrolling interests, for the nine months ended September 30