Kennedy-Wilson Holdings, Inc
(NYSE:KW)

Kennedy-Wilson Holdings, Inc., together with its subsidiaries, operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and office properties located in the Western U...

Website: http://www.kennedywilson.com

Full Time Employees: 309

Sector: Real Estate

Industry: Real Estate Services

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2016-09-30	2016-06-30	2016-03-31	2015-03-31	2014-06-30	2013-09-30	2013-03-31	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30

revenue
yoy
qoq
rental	84,800,000	84,900,000	87,200,000	93,300,000	97,300,000	97,600,000	97,800,000	97,800,000	97,400,000	99,700,000	102,400,000	106,600,000	106,600,000	110,500,000	110,900,000	109,300,000	104,200,000	110,800,000	96,100,000	94,700,000	88,900,000	95,100,000	102,200,000	98,900,000	107,700,000	111,300,000	108,300,000	112,000,000	115,800,000	122,000,000	123,400,000	134,900,000	134,300,000	125,500,000	123,800,000	122,900,000	120,300,000	119,900,000	90,400,000
investment management fees	27,800,000	30,400,000	23,400,000	36,400,000	25,000,000	29,900,000	21,600,000	26,100,000	21,300,000	16,300,000	15,500,000	19,100,000	11,000,000	11,300,000	11,200,000	11,000,000	11,300,000
loan	4,500,000	4,300,000	5,700,000	5,700,000	5,800,000	5,925,000	7,600,000	8,000,000	8,100,000	3,625,000	6,100,000	4,700,000
other	100,000	200,000	100,000	300,000	200,000	500,000	500,000	100,000	300,000	600,000	700,000	600,000
total revenue	117,200,000	120,600,000	116,400,000	135,700,000	128,300,000	135,500,000	127,500,000	132,000,000	136,400,000	142,600,000	141,300,000	146,500,000	132,200,000	139,600,000	139,600,000	136,100,000	124,700,000	131,400,000	114,400,000	108,400,000	99,400,000	106,500,000	114,200,000	106,900,000	123,300,000	142,300,000	143,000,000	143,700,000	140,700,000	178,700,000	185,800,000	218,300,000	190,700,000	277,200,000	177,800,000	174,300,000	176,500,000	172,100,000	137,700,000	92,000,000	33,208,000	22,397,000	11,830,000	12,776,000	8,510,000	8,727,000	18,891,000	11,773,000	9,046,000	10,826,000
income from unconsolidated investments																		53,475,000	143,100,000	52,400,000	18,400,000	11,250,000	14,900,000	19,200,000	10,900,000	32,900,000	84,000,000	5,900,000	41,700,000	17,800,000	24,000,000	10,900,000	26,000,000	12,900,000	13,400,000	31,700,000	8,400,000	19,200,000	11,200,000	31,000,000
principal co-investments	58,200,000	97,500,000	25,700,000	1,800,000	19,600,000		-3,900,000	-5,800,000	9,700,000	-155,100,000	-56,100,000	6,300,000	16,400,000	51,600,000	30,300,000	39,400,000	78,200,000
carried interests	300,000	-400,000	8,800,000	-2,000,000	-8,200,000	-4,600,000	-16,400,000	-12,300,000
total income from unconsolidated investments	58,500,000	97,100,000	34,500,000	-200,000	11,400,000			-18,100,000	-6,700,000	-183,100,000	-74,000,000	-1,400,000	5,700,000	30,000,000	12,300,000	30,700,000	105,400,000
gain, net on sale and consolidation of real estate	5,500,000
expenses
compensation and related	33,100,000	46,900,000	30,100,000	32,300,000	26,900,000	45,400,000	30,000,000	31,800,000	27,600,000	40,700,000	31,100,000	37,000,000	23,500,000	29,300,000	26,500,000	26,500,000	29,000,000	10,400,000	40,200,000	48,600,000	34,700,000	59,300,000	26,300,000	27,400,000	31,400,000	43,900,000	35,600,000	37,000,000	35,300,000	46,000,000	38,300,000	44,900,000	39,600,000	35,400,000	45,500,000	42,200,000	40,500,000	45,700,000	26,200,000	32,200,000
carried interests compensation			3,000,000	-600,000	-2,700,000	-1,100,000	-5,500,000	-4,500,000
general and administrative	10,400,000	9,600,000	7,600,000	8,800,000	10,400,000	10,800,000	10,200,000	9,500,000	8,300,000	10,200,000	8,400,000	8,700,000	8,400,000	10,700,000	9,200,000	9,400,000	7,900,000	8,600,000	8,900,000	9,000,000	6,800,000	8,500,000	8,600,000	8,000,000	9,500,000	12,200,000	8,400,000	10,900,000	10,900,000	14,200,000	11,700,000	13,500,000	11,400,000	10,800,000	10,000,000	10,500,000	11,800,000	10,100,000	9,500,000	8,400,000	5,760,000	5,427,000	3,669,000	3,329,000	3,040,000	2,813,000
depreciation and amortization	32,200,000	31,800,000	32,600,000	34,500,000	34,100,000	36,100,000	36,900,000	36,400,000	38,900,000	39,500,000	38,800,000	40,100,000	39,400,000	40,200,000	46,100,000	43,300,000	43,300,000	41,000,000	39,200,000	41,700,000	44,400,000	44,500,000	44,300,000	45,300,000	45,500,000	45,900,000	46,400,000	46,200,000	49,100,000	47,400,000	51,500,000	51,500,000	55,700,000	55,400,000	52,100,000	50,000,000	48,900,000	48,300,000	36,600,000	25,300,000	4,531,000	3,057,000	937,000	931,000	463,000	434,000
total expenses	109,700,000	121,000,000	108,000,000	110,400,000	106,800,000	128,000,000	110,600,000	110,200,000	114,100,000	130,200,000	120,500,000	133,100,000	124,500,000	129,500,000	129,700,000	128,500,000	139,100,000	169,800,000	124,500,000	134,500,000	120,800,000	149,000,000	116,300,000	115,800,000	129,800,000	155,000,000	147,900,000	143,800,000	153,100,000
interest expense	-59,200,000	-57,300,000	-58,400,000	-62,500,000	-61,400,000	-65,700,000	-66,900,000	-63,800,000	-64,700,000	-66,700,000	-64,200,000	-66,000,000	-62,300,000	-60,000,000	-57,100,000	-53,200,000	-50,500,000	-51,000,000	-45,300,000	-44,500,000	-51,600,000	-59,900,000	-50,800,000	-51,700,000	-48,800,000	-52,300,000	-51,800,000	-55,700,000	-55,300,000	-56,900,000	-55,200,000	-67,200,000	-58,900,000								-13,141,000	-11,432,000	-6,170,000	-6,117,000	-6,228,000	-1,529,000	-1,142,000	-2,198,000	-2,180,000	-2,114,000
loss on early extinguishment of debt	-300,000		-200,000	-2,100,000		-125,000	-300,000	-500,000		-400,000		-1,700,000		-600,000	-1,300,000	-1,100,000		-7,100,000		-23,800,000	-14,800,000																										-1,197,000	-4,788,000
other income	1,000,000			-5,600,000	-5,200,000	10,200,000	-13,100,000	300,000	6,800,000	-29,500,000	3,200,000	24,300,000	-3,000,000	-10,000,000	36,700,000	3,600,000		-650,000	400,000			2,800,000	1,600,000	-100,000	200,000	1,000,000		1,900,000	-2,500,000	-1,500,000	3,400,000	10,600,000	-500,000	-300,000	4,400,000	1,900,000	5,000,000	700,000	800,000	2,100,000
income before benefit from income taxes	13,000,000			10,000,000	-34,500,000			-60,100,000	64,400,000	-277,900,000	-83,800,000		-32,600,000					97,575,000	103,100,000			-18,750,000	-32,500,000						5,600,000	53,225,000	19,800,000			6,100,000	30,600,000				-12,400,000	89,100,000				-7,873,000		2,741,000	2,339,000	-3,316,000	15,759,000
benefit from income taxes	11,500,000	-11,100,000	-3,000,000	-4,400,000	4,900,000	-6,000,000	10,700,000	11,800,000	-26,700,000	42,000,000	19,700,000		3,900,000					-24,550,000	-30,600,000			2,575,000	12,800,000	3,200,000					-4,000,000	-8,425,000	-6,900,000		2,600,000	3,700,000	-8,800,000		3,900,000		8,100,000	-25,400,000		1,703,000	1,483,000	2,997,000		-663,000			-5,950,000	1,998,000
net income	24,500,000	58,000,000	-10,200,000	5,600,000	-29,600,000	43,700,000	-66,800,000	-48,300,000	37,700,000	-235,900,000	-64,100,000	47,300,000	-28,700,000	39,200,000	23,600,000	-900,000	40,000,000	44,300,000	72,500,000	221,200,000	-1,600,000	172,500,000	-19,700,000	-39,100,000	-5,900,000	158,900,000	19,400,000	141,200,000	1,600,000	32,900,000	12,900,000	167,300,000	-1,000,000	9,800,000	21,800,000	13,100,000	-2,200,000	20,500,000	-4,300,000	63,700,000	-2,685,000	-2,595,000	1,482,000	-4,876,000	513,000	2,078,000	2,947,000	-3,699,000	9,809,000	-2,572,000		-765,480	-110,409	-146,975		278,211	443,724
yoy	-182.77%	32.72%	-84.73%	-111.59%	-178.51%	-118.52%	4.21%	-202.11%	-231.36%	-701.79%	-371.61%	-5355.56%	-171.75%	-11.51%	-67.45%	-100.41%	-2600.00%	-74.32%	-468.02%	-665.73%	-72.88%	8.56%	-201.55%	-127.69%	-468.75%	382.98%	50.39%	-15.60%	-260.00%	235.71%	-40.83%	1177.10%	-54.55%	-52.20%	-606.98%	-79.43%	-18.06%	-889.98%	-390.15%	-1406.40%	-623.39%	-224.88%	-49.71%	31.82%	-94.77%	-180.79%		383.23%	-8984.24%	1649.96%		-375.14%	-124.88%
qoq	-57.76%	-668.63%	-282.14%	-118.92%	-167.73%	-165.42%	38.30%	-228.12%	-115.98%	268.02%	-235.52%	-264.81%	-173.21%	66.10%	-2722.22%	-102.25%	-9.71%	-38.90%	-67.22%	-13925.00%	-100.93%	-975.63%	-49.62%	562.71%	-103.71%	719.07%	-86.26%	8725.00%	-95.14%	155.04%	-92.29%	-16830.00%	-110.20%	-55.05%	66.41%	-695.45%	-110.73%	-576.74%	-106.75%	-2472.44%	3.47%	-275.10%	-130.39%	-1050.49%	-75.31%	-29.49%	-179.67%	-137.71%	-481.38%			593.31%	-24.88%			-37.30%
net income margin %	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	NaN%	Infinity%	Infinity%
net loss attributable to the noncontrolling interests	100,000	-400,000	-200,000	-1,100,000	-300,000	100,000	200,000	100,000	100,000	-5,350,000	-17,300,000	100,000	-4,200,000	-8,700,000	700,000		100,000	-2,500,000	-2,300,000		300,000	1,800,000	-1,100,000	1,300,000	300,000	-24,000,000	1,300,000								-12,400,000	-15,100,000	1,100,000	-27,400,000		-25,300,000		999,000		42,000
preferred dividends	-10,900,000	-10,900,000	-10,800,000	-10,900,000	-10,900,000	-10,900,000	-10,800,000	-10,900,000	-10,900,000	-10,900,000	-10,800,000	-8,400,000	-7,900,000	-7,900,000	-7,900,000	-7,800,000	-5,300,000
net income attributable to kennedy-wilson holdings, inc. common shareholders	13,700,000				-40,800,000			-59,100,000	26,900,000	-247,800,000	-92,200,000	39,000,000	-40,800,000	22,600,000	16,400,000	-9,000,000	34,800,000	37,500,000	65,900,000	215,400,000		170,000,000	-25,100,000	-42,100,000		157,900,000	20,700,000	50,800,000		30,700,000	12,100,000	109,600,000	-2,400,000	-8,900,000	9,400,000	-2,500,000	-1,600,000		-3,500,000	36,300,000	-4,069,000		-3,352,000		-2,422,000		308,000	-6,718,000	8,498,000
basic earnings per share
earnings per share	0.1							-0.43	0.19	-0.168	-0.66	0.28	-0.3	0.078	0.12	-0.07	0.25	0.495	0.48	1.55
weighted-average shares outstanding	138,597,380		137,901,697	138,144,013	137,745,032		137,413,758	137,588,910	138,472,579		139,391,316	139,389,170	137,949,018		136,840,874	136,840,417	136,815,290		138,934,754	139,260,408	138,772,819		140,119,442	140,219,177	140,210,705		139,947,518	139,623,658	139,756,358				147,941,982
diluted earnings per share
dividends declared per common share	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.22	0.22	0.22	0.22	0.22	0.22	0.22	0.22	0.21	0.21	0.21	0.21	0.19	0.19	0.19	0.17	0.17	0.14	0.14	0.14	0.12	0.09	0.07	0.07	0.05	0.04	0.04
hotel									9,300,000	14,400,000	16,600,000	15,500,000	10,600,000	13,700,000	14,000,000	12,700,000	6,500,000	7,900,000	6,200,000	2,200,000	800,000	3,500,000	3,100,000	100,000	7,200,000	17,600,000	25,100,000	22,800,000	15,000,000	38,100,000	43,500,000	37,800,000	36,300,000	37,300,000	29,000,000	31,400,000	26,800,000	29,100,000	23,400,000
gain on sale of real estate		29,300,000	11,100,000	55,100,000	-800,000	47,300,000	6,200,000	200,000	106,400,000	-11,000,000	30,400,000	89,000,000	19,200,000	52,900,000	37,000,000	11,900,000	1,900,000	-4,300,000	15,000,000	328,500,000	73,500,000	290,300,000	4,000,000	-500,000	44,200,000	182,000,000	6,300,000	211,200,000	34,900,000	67,600,000	39,400,000	236,800,000	28,000,000	5,300,000	66,300,000	21,500,000	16,100,000	38,400,000	5,600,000
other loss		-3,350,000	-2,600,000														5,800,000				-3,000,000
loss before benefit from income taxes		-7,925,000	-7,200,000			-18,300,000	-77,500,000																										-3,600,000
net loss attributable to kennedy-wilson holdings, inc. common shareholders		29,600,000	-21,200,000	-6,400,000		-27,400,000	-77,400,000														-5,600,000				-9,900,000				-5,300,000									-7,400,000				-3,632,000		-6,870,000		-996,000				-0.08
basic loss per share
loss per share		-0.125	-0.15	-0.05		-0.198	-0.56														-0.04				-0.07				-0.04
diluted loss per share
gain on early extinguishment of debt									300,000				100,000																																		4,167,500
basic income per share
income per share					-0.3																	-0.138	-0.18	-0.3		0.118	0.15	0.36					-0.02
diluted income per share
loss from unconsolidated investments
total loss from unconsolidated investments						-11,275,000	-20,300,000
performance allocations									-16,400,000	-28,000,000	-17,900,000	-7,700,000	-10,700,000	-21,600,000	-18,000,000	-8,700,000	27,200,000
performance allocation compensation									-5,500,000	-9,600,000	-6,000,000	-1,100,000	1,600,000	-7,500,000	-6,600,000	-2,000,000	11,800,000
income before provision for income taxes												57,600,000		52,900,000	37,500,000	-500,000	48,200,000				1,100,000			-42,300,000	-200,000	49,325,000	29,600,000	162,100,000				196,700,000				18,600,000	-6,100,000	21,000,000							685,000
provision for income taxes												-10,300,000		-13,700,000	-13,900,000	-400,000	-8,200,000				-2,700,000				-5,700,000	-8,775,000	-10,200,000	-20,900,000				-29,400,000				-5,500,000		-500,000							-172,000		-1,083,750	-383,000								235,427	295,335
property services fees													300,000	325,000	500,000	400,000	400,000
loan and other													3,700,000	2,000,000	3,000,000	2,700,000	2,300,000	1,550,000	2,400,000	2,200,000	1,600,000
share-based compensation													7,100,000	7,300,000	7,300,000	7,300,000	7,100,000
net income attributable to the noncontrolling interests																-300,000												-90,400,000		-2,200,000	-800,000	-57,700,000	-1,400,000	-18,700,000									-2,798,000		-299,000	-1,038,000	-605,000	-1,215,000
investment management and property services fees																		6,775,000	9,700,000	9,300,000	8,100,000	6,300,000	8,900,000	7,900,000	8,400,000
commission and marketing																		175,000	100,000	300,000	300,000	300,000	900,000	900,000	700,000	900,000	1,200,000	700,000	1,000,000	1,300,000	1,100,000	2,100,000	1,400,000	2,100,000	1,700,000	2,500,000	1,800,000	1,800,000	1,400,000	900,000
transaction-related expenses																		-100,000		-400,000		-300,000	-100,000	-300,000	-200,000
preferred dividends and accretion of preferred stock issuance costs																		-3,225,000	-4,300,000	-4,300,000	-4,300,000	-4,300,000	-4,300,000	-4,300,000	-4,300,000											-500,000	-500,000	-500,000	-2,000,000	-2,100,000	-2,036,000	-2,036,000	-2,036,000	-2,036,000	-2,636,000	-2,036,000
income before (benefit from) benefit from income taxes																				286,100,000
(benefit from) benefit from income taxes																				-64,900,000																					-726,000
net (income) loss attributable to the noncontrolling interests																				-1,500,000
basic and diluted loss per share
sale of real estate																													1,100,000	8,100,000	6,500,000	32,800,000	9,400,000	89,800,000	12,800,000	2,500,000	12,300,000	1,900,000	2,100,000	6,100,000	1,546,000	2,418,000				417,000
cost of real estate sold																													1,200,000	6,900,000	5,800,000	31,400,000	8,400,000	63,400,000	9,600,000	2,500,000	9,200,000	1,400,000	1,500,000	3,900,000	883,000	1,872,000				397,000				2,714,000
investment management, property services and research fees																										6,825,000	9,600,000	8,900,000	8,800,000	8,700,000	12,400,000	12,300,000	10,100,000	16,100,000	7,700,000	14,100,000	13,500,000	19,100,000	16,400,000	39,000,000
acquisition-related expenses																										-900,000	-4,000,000	-1,100,000	-800,000	-1,100,000	-400,000	-200,000		-1,000,000	-900,000	-1,000,000	-6,300,000	-2,000,000	-18,100,000	-7,600,000
net (income) attributable to the noncontrolling interests																													-6,900,000
loan purchases, loan originations and other																														275,000		500,000	600,000	8,500,000	4,500,000	3,400,000	3,600,000	2,100,000	5,400,000
operating expenses
rental operating																														29,875,000	38,200,000	39,700,000	41,600,000	38,000,000	36,600,000	34,600,000	32,800,000	31,000,000	24,600,000
hotel operating																														22,700,000	30,600,000	29,400,000	30,800,000	26,100,000	22,800,000	23,800,000	23,600,000	24,500,000	21,600,000
total operating expenses																														144,650,000	177,200,000	212,500,000	188,900,000	231,200,000	178,300,000	166,100,000	168,600,000	162,800,000	121,400,000	88,600,000	37,308,000	27,577,000	15,441,000	15,569,000	13,138,000	12,525,000	24,910,000	17,647,000	12,509,000
operating income																														19,275,000	32,600,000	16,700,000	27,800,000	58,900,000	12,900,000	39,900,000	16,300,000	28,500,000	27,500,000	34,400,000	9,262,000	-2,579,000	2,443,000	-2,391,000	164,000	4,004,000
yoy																														-67.28%	152.71%	-58.15%	70.55%	106.67%	-53.09%	15.99%	75.99%	-1205.08%	1025.67%	-1538.73%	5547.56%	-164.41%
qoq																														-40.87%	95.21%	-39.93%	-52.80%	356.59%	-67.67%	144.79%	-42.81%	3.64%	-20.06%	271.41%	-459.13%	-205.57%	-202.17%	-1557.93%	-95.90%
operating margin %	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
non-operating income
income per basic																														0.21	0.09	0.77		-0.08	0.08	-0.03	-0.02		-0.05	0.39
weighted-average shares outstanding for basic		137,923,207				137,778,812				138,930,517				136,900,875				138,552,058				139,741,411				139,729,573				142,895,472	141,003,413	141,483,445		111,966,716	111,723,952	108,634,228	109,056,941	109,214,633	91,547,838	89,140,498
income per diluted																														0.21	0.09	0.77		-0.08	0.08	-0.03	-0.02		-0.05	0.38
weighted-average shares outstanding for diluted		137,923,207				137,778,812				138,930,517				138,567,534				140,132,435				140,347,365				141,501,323				144,753,421	141,800,972	142,707,159		111,966,716	111,723,952	108,634,228	109,056,941	109,214,633	91,547,838	102,115,350
basic and diluted income per share
acquisition-related gains																																				7,600,000	8,600,000		4,200,000	86,000,000	1,668,000
interest expense-investment																																		-37,900,000	-35,500,000	-36,800,000	-33,600,000	-32,500,000	-19,400,000	-11,100,000
interest expense-corporate																																		-18,900,000	-16,600,000	-14,500,000	-12,200,000	-12,100,000	-13,000,000	-14,700,000
loss per basic																																						-0.07
loss per diluted																																						-0.07
net income (income) attributable to the noncontrolling interests																																							2,800,000		652,000
rental and hotel																																								42,600,000
loans and other																																								4,300,000
rental and hotel operating																																								17,900,000
management and leasing fees																																									4,462,000	4,709,000	3,156,000	4,862,000	2,346,000	2,449,000
management and leasing fees — related party																																									10,649,000	7,957,000	5,585,000	2,989,000	2,600,000	2,562,000
commissions																																									836,000	524,000	666,000	1,329,000	1,962,000	1,551,000
commissions — related party																																									5,025,000	392,000	953,000	1,930,000	647,000	1,010,000
rental and other income																																									10,690,000		1,470,000	1,666,000	955,000	738,000	1,066,000	1,637,000	628,000	669,000
commission and marketing expenses																																									1,011,000	498,000	965,000	1,641,000	736,000	638,000
compensation and related expenses																																									20,956,000	13,620,000	9,000,000	8,473,000	8,257,000	7,832,000
rental operating expenses																																									4,167,000	3,103,000	870,000	1,195,000	642,000	411,000
equity in joint venture income																																									9,379,000	-344,000	5,516,000	-646,000	2,551,000	5,256,000	5,386,000	5,191,000		1,308,000
interest income from loan pool participations and notes receivable																																									3,983,000	2,945,000	538,000	1,048,000	2,241,000	2,546,000
interest income																																									69,000	40,000	30,000	74,000	152,000	38,000	-453,000	144,000	220,000	281,000		22,291	26,448	23,735		951,016	906,706
interest income — related party																																									136,000		1,087,000	561,000	249,000	228,000
gain on sale of marketable securities																																											2,931,000
income from continuing operations before benefit from income taxes																																									-2,006,000	-4,512,000
income from continuing operations																																									-2,732,000	-2,809,000	1,692,000
discontinued operations
income from discontinued operations, net of income taxes																																									-291,000	-3,000	2,000
gain from sale of real estate, net of income taxes																																									338,000	217,000
net income attributable to kennedy-wilson holdings, inc.																																									-2,033,000		-1,316,000	-4,834,000	214,000	1,040,000	2,342,000	-4,914,000	9,218,000
basic and diluted earnings per share attributable to kennedy-wilson holdings, inc. common shareholders
continuing operations																																									-0.06	-0.06	-0.06
discontinued operations, net of income taxes
earnings per share - basic and diluted																																									-0.06
weighted-average number of common shares outstanding																																									72,643,080	61,853,258	51,160,270	44,016,880	39,118,313	40,022,940		38,961,822
rental income																																										6,397,000
acquisition-related gain																																										9,459,000
realized foreign currency exchange loss																																											-112,000
net loss attributable to kennedy-wilson holdings, inc.																																										-1,596,000
basic and diluted loss per share attributable to kennedy-wilson holdings, inc. common shareholders
earning per share - basic and diluted																																										-0.06	-0.07
income from continuing operation before benefit from income taxes																																											209,000
income from sale of real estate, net of income taxes																																											-212,000
remeasurement gain																																													6,348,000				2,108,000
gain on extinguishment of debt																																																	16,670,000
loss on extinguishment of debt
other comprehensive income, net of tax																																												-1,783,000	1,094,000		1,342,000	2,912,000	2,382,000	-196,000
total comprehensive income																																												-8,653,000	-1,328,000		1,650,000	-3,806,000	10,880,000
basic and diluted loss attributable to kennedy-wilson holdings, inc. common shareholders																																												-0.16		-0.02
basic income attributable to kennedy-wilson holdings, inc. common shareholders																																													-0.06
diluted income attributable to kennedy-wilson holdings, inc. common shareholders																																													-0.06
other comprehensive loss, net of tax																																														-887,000
total comprehensive loss																																														-1,883,000				-3,336,000
management, leasing fees and commissions																																															6,193,500	10,136,000
commission, marketing, compensation and related expenses																																															7,858,000	12,677,000	8,882,000	9,873,000
merger-related expenses
general, administrative, depreciation and amortization																																															2,365,000	4,073,000	3,344,000	2,043,000
rental and other expenses																																															355,250	897,000	283,000	241,000
income from loan pool participation																																															1,583,750	3,199,000	2,485,000
interest on notes receivable																																															403,750	1,010,000	605,000
total operating income																																															-67,500	3,526,000		-2,737,000
other than temporary impairment on joint venture investment
preferred stock dividends and accretion of issuance costs																																															-2,034,000	-1,804,000	-720,000
basic and diluted income per share:
management and leasing fees and commissions																																																	8,418,000	6,220,000
equity in joint venture loss																																																	-686,000
total operating loss																																																	-1,059,000
net loss attributable to the noncontrolling interest																																																	-591,000	-568,000
basic income per share:
weighted-average number of common shares outstanding - basic																																																	39,194,046
diluted income per share:
weighted-average number of common shares outstanding - diluted																																																	43,434,991
amounts attributable to kennedy-wilson holdings, inc. common shareholders
amounts attributable to kennedy-wilson holdings, inc. common shareholders - sum																																																	10,880,000
sales of real estate																																																		3,937,000
total operating expense																																																		14,871,000
loss before benefit for income taxes																																																		-4,570,000
net loss attributable to kennedy-wilson holdings, inc. shareholders																																																		-3,140,000
basic and diluted loss per share:
weighted-average number of common shares outstanding - basic and diluted																																																		38,980,351
deferred interest income																																																				4,012	4,761	4,272
net interest income																																																				18,279	21,687	19,463
operating expenses:
capital & franchise taxes																																																				36,375	36,375	36,879		339,080
professional fees																																																				1,042,703	79,219	163,190		31,090	64,760
formation and operating costs																																																				63,464	45,800	43,628		44,708	80,387
rent and office expenses																																																				22,307	22,308	22,308		22,500	22,500
operating expenses: - sum																																																				1,164,849	183,702	266,005		437,378	167,647
net income before income taxes
income tax provision
weighted average number of common shares outstanding:
basic and diluted																																																				31,250,000	31,250,000
net income per share
basic and diluted																																																				-0.02				0.01	0.01
weighted-average number of common shares outstanding:
basic and diluted																																																						31,250,000	31,250,000	31,250,000	31,250,000
net income before provision for income taxes																																																								513,638	739,059
weighted-average number of common shares outstanding :
basic and diluted																																																						31,250,000	31,250,000	31,250,000	31,250,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-06-30	2016-09-30	2016-06-30	2016-03-31	2015-03-31	2014-06-30	2013-09-30	2013-03-31	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2007-12-31

assets
cash and cash equivalents	184,600,000	184,500,000	382,600,000	309,100,000	356,600,000	217,500,000	367,100,000	366,500,000	541,900,000	313,700,000	330,900,000	387,000,000	349,300,000	439,300,000	420,300,000	460,600,000	462,100,000	524,800,000	840,800,000	686,500,000	1,438,600,000	965,100,000	727,200,000	734,700,000	665,600,000	573,900,000	385,800,000	404,000,000	442,900,000	488,000,000	419,400,000	447,100,000	433,000,000	569,200,000	282,700,000	183,500,000	180,900,000	195,000,000	349,500,000	181,371,000	198,448,000	122,317,000	147,414,000	191,218,000	35,493,000	46,968,000	50,713,000	92,201,000	43,729,000	57,784,000
accounts receivable	36,600,000	38,800,000	57,500,000	42,000,000	35,000,000	38,700,000	43,000,000	41,400,000	42,500,000	57,300,000	47,400,000	40,000,000	41,400,000	40,800,000	38,100,000	42,300,000	39,100,000	36,100,000	43,200,000	43,700,000	46,300,000	47,900,000	50,900,000	57,100,000	47,600,000	52,100,000	51,300,000	51,100,000	43,500,000	56,600,000	75,800,000	64,600,000	48,300,000	93,400,000	64,100,000	79,100,000	68,300,000	57,600,000	36,800,000	6,051,000	6,747,000	3,535,000	1,951,000	2,424,000	2,569,000	2,097,000	2,376,000	1,665,000	1,004,000	887,000
real estate and acquired in place lease values	4,187,000,000	3,997,400,000	4,016,100,000	4,078,800,000	4,336,600,000	4,290,400,000	4,570,700,000	4,605,000,000	4,603,500,000	4,837,300,000	4,849,600,000	4,982,000,000	5,128,500,000	5,188,100,000	5,076,700,000	5,253,800,000	5,067,400,000	5,059,800,000	4,836,900,000	4,556,700,000	4,562,700,000	4,720,500,000	4,786,700,000	4,729,900,000	4,715,800,000	5,080,200,000	5,075,400,000	5,163,000,000	5,561,900,000	5,702,500,000
unconsolidated investments	2,032,900,000	2,047,700,000	1,906,300,000	2,034,700,000	2,084,700,000	2,042,400,000	2,052,900,000	2,056,000,000	2,059,600,000	2,069,100,000	2,232,700,000	2,320,900,000	2,267,400,000	2,238,100,000	2,130,300,000	2,183,400,000	2,166,900,000	1,947,600,000	1,737,900,000	1,577,500,000	1,311,000,000	1,289,300,000	1,277,000,000	1,276,100,000	1,256,400,000	1,334,600,000	1,110,200,000	1,073,800,000	907,300,000	859,900,000	789,700,000	613,700,000	544,100,000	499,000,000	432,900,000	453,200,000	456,700,000	486,800,000	532,200,000
loan purchases and originations, net of allowance for credit losses	189,900,000		216,100,000	209,900,000	205,100,000		248,100,000	248,300,000	250,400,000		238,000,000
other assets	216,400,000	150,800,000	119,600,000	122,400,000	139,100,000	141,000,000	162,400,000	178,100,000	182,400,000	187,500,000	211,700,000	219,900,000	212,600,000	216,100,000	275,400,000	238,200,000	188,800,000	177,900,000	189,400,000	188,700,000	191,400,000	306,200,000	334,800,000	271,700,000	262,600,000	263,700,000	313,100,000	304,300,000	284,000,000	222,300,000	246,800,000	253,400,000	242,100,000	277,800,000	256,300,000	262,200,000	244,100,000	353,900,000	187,700,000	51,103,000	42,688,000	19,837,000	20,940,000	18,821,000	8,283,000	8,850,000				7,005,000
total assets	6,847,400,000	6,622,500,000	6,698,200,000	6,796,900,000	7,157,100,000	6,961,100,000	7,444,200,000	7,495,300,000	7,680,300,000	7,712,100,000	7,910,300,000	8,193,900,000	8,150,000,000	8,271,800,000	8,084,500,000	8,320,100,000	8,067,800,000	7,876,500,000	7,774,600,000	7,187,900,000	7,648,500,000	7,329,000,000	7,176,600,000	7,069,500,000	6,948,000,000	7,304,500,000	6,935,800,000	6,996,200,000	7,239,600,000	7,357,100,000	7,381,400,000	7,505,400,000	7,962,800,000	8,284,300,000	7,966,800,000	7,696,300,000	7,658,400,000	6,680,600,000	5,354,700,000	1,641,194,000	1,386,101,000	786,493,000	740,009,000	741,002,000	501,432,000	487,848,000	513,334,000	500,866,000	333,354,000	336,257,000	249,182,541	249,116,069	249,351,281	249,449,560	249,307,216	249,001,227	248,161,221
liabilities
accounts payable	5,700,000	10,000,000	6,200,000	8,900,000	9,100,000	10,800,000	9,800,000	12,100,000	15,500,000	17,900,000	14,000,000	16,200,000	13,000,000	16,200,000	10,900,000	17,300,000	15,900,000	18,600,000	13,100,000	18,300,000	15,600,000	30,100,000	13,300,000	11,300,000	10,900,000	20,400,000	15,700,000	17,500,000	18,400,000	24,100,000	28,100,000	25,800,000	23,600,000	20,800,000	14,600,000	17,500,000	15,900,000			1,735,000	1,114,000	997,000	353,000	871,000	577,000	1,504,000				860,000
accrued expenses and other liabilities	501,800,000	531,600,000	521,100,000	569,400,000	557,700,000	529,400,000	548,400,000	551,300,000	562,800,000	597,800,000	593,100,000	642,400,000	579,700,000	658,200,000	603,000,000	594,700,000	575,100,000	619,100,000	549,500,000	585,800,000	479,300,000	531,700,000	510,600,000	457,000,000	485,200,000	518,000,000	511,400,000	505,600,000	464,900,000	489,000,000	506,200,000	491,100,000	481,200,000	431,400,000	440,100,000	419,000,000	408,000,000			37,220,000	25,425,000	27,461,000	30,896,000	18,520,000	9,565,000	9,064,000				8,648,000
mortgage debt	2,630,800,000	2,437,700,000	2,372,200,000	2,385,200,000	2,620,700,000	2,597,200,000	2,749,100,000	2,756,300,000	2,773,100,000	2,840,900,000	2,821,200,000	2,887,000,000	3,042,500,000	3,018,000,000	3,011,200,000	3,115,100,000	3,029,100,000	2,959,800,000	2,674,300,000	2,332,400,000	2,555,300,000	2,589,800,000	2,520,100,000	2,450,300,000	2,450,900,000	2,641,000,000	2,644,700,000	2,675,300,000	2,988,800,000	2,950,300,000	2,872,200,000	2,993,900,000	3,272,900,000
kw unsecured debt	2,154,500,000	2,069,800,000	1,886,300,000	1,884,400,000	2,053,600,000	1,877,900,000	1,955,200,000	1,957,400,000	2,032,500,000	1,934,300,000	1,928,900,000	1,931,300,000	2,029,900,000	2,062,600,000	1,979,800,000	2,028,900,000	1,778,100,000	1,852,300,000	1,775,700,000	1,472,100,000	1,799,800,000	1,332,200,000	1,331,300,000	1,330,100,000	1,128,600,000	1,131,700,000	1,280,700,000	1,254,400,000	1,203,300,000	1,202,000,000	1,250,600,000	1,249,900,000	1,248,900,000
total liabilities	5,292,800,000	5,049,100,000	5,138,200,000	5,200,600,000	5,564,900,000	5,325,100,000	5,791,400,000	5,784,900,000	5,895,400,000	5,913,700,000	5,858,000,000	5,993,300,000	6,178,600,000	6,261,400,000	6,141,300,000	6,329,700,000	6,004,600,000	6,072,600,000	5,941,700,000	5,360,100,000	6,002,200,000	5,656,300,000	5,660,000,000	5,480,400,000	5,293,000,000	5,585,300,000	5,660,100,000	5,705,900,000	5,937,400,000	5,925,900,000	5,939,600,000	6,055,700,000	6,396,100,000	5,932,600,000	5,438,800,000	5,132,200,000	4,892,500,000	3,617,400,000	2,560,400,000	865,535,000	745,766,000	373,576,000	386,424,000	377,697,000	188,181,000	174,942,000	203,630,000	210,086,000	156,948,000	156,921,000	11,009,090	10,177,138	10,301,941	10,253,245	10,075,720	10,047,942	10,476,121
equity
preferred stock 1,000,000 shares authorized, series a cumulative preferred stock, 0.0001 par value...	789,700,000		789,700,000	789,700,000	789,700,000		789,900,000	789,900,000
common stock, 0.0001 par value per share...
additional paid-in capital	1,717,600,000	1,724,800,000	1,718,300,000	1,711,900,000	1,712,400,000	1,712,800,000	1,706,400,000	1,700,600,000	1,706,500,000	1,718,600,000	1,717,700,000	1,710,500,000	1,702,500,000	1,679,500,000	1,672,300,000	1,665,300,000	1,658,400,000	1,679,600,000	1,702,000,000	1,719,500,000	1,718,600,000	1,725,200,000	1,729,900,000	1,746,300,000	1,738,700,000		1,751,800,000	1,747,300,000	1,747,200,000	1,744,600,000	1,753,100,000	1,747,700,000	1,871,200,000	1,215,900,000	1,231,600,000	1,216,600,000	1,229,400,000	1,182,500,000	986,300,000	792,449,000	653,082,000	408,217,000	337,988,000	337,803,000	285,847,000	284,669,000	285,458,000	256,921,000	157,793,000	155,878,000	162,966,787	162,966,787	162,966,787	162,966,787	162,966,787	162,966,787
accumulated deficit	-597,300,000	-594,300,000	-607,300,000	-569,500,000	-551,100,000	-493,700,000	-510,300,000	-416,600,000	-347,100,000																		-80,100,000	-71,800,000	-92,100,000	-56,400,000	-56,700,000	-40,700,000	-121,500,000	-132,000,000	-106,700,000	-88,100,000	-68,400,000	-78,000,000	-11,800,000	-32,049,000	-14,636,000
accumulated other comprehensive loss	-392,500,000	-385,100,000	-373,200,000	-369,100,000	-393,000,000	-407,600,000	-372,300,000	-404,400,000	-406,700,000	-404,400,000	-427,300,000	-400,000,000	-418,000,000	-430,100,000	-470,900,000	-441,500,000	-405,600,000	-389,600,000	-393,700,000	-382,900,000	-377,100,000	-393,600,000	-413,700,000	-423,500,000	-424,800,000	-417,200,000	-436,600,000	-429,300,000	-424,600,000	-441,500,000	-443,400,000	-436,700,000	-404,300,000	-56,400,000	-61,700,000	-56,600,000	-46,800,000	-48,500,000
total kennedy-wilson holdings, inc. shareholders' equity	1,517,500,000		1,527,500,000	1,563,000,000	1,558,000,000		1,613,700,000	1,669,500,000	1,742,600,000		2,008,600,000	2,154,400,000	1,924,900,000		1,926,400,000	1,966,200,000	2,037,500,000		1,799,800,000	1,797,200,000	1,617,800,000		1,488,900,000	1,547,800,000	1,612,500,000		1,235,100,000	1,246,200,000	1,230,500,000		1,253,000,000	1,270,300,000	1,345,400,000	1,027,500,000	1,063,200,000	1,071,900,000	1,114,200,000	1,056,000,000	976,100,000	765,961,000	630,404,000	411,717,000	338,013,000	348,282,000	299,456,000
noncontrolling interests	37,100,000	38,300,000	32,500,000	33,300,000	34,200,000	34,800,000	39,100,000	40,900,000	42,300,000	43,300,000	43,700,000	46,200,000	46,500,000	46,400,000	16,800,000	24,200,000	25,700,000	26,300,000	33,100,000	30,600,000	28,500,000	28,200,000	27,700,000	41,300,000	42,500,000	40,500,000	40,600,000	44,100,000	71,700,000	184,500,000	188,800,000	179,400,000	221,300,000	1,324,200,000	1,464,800,000	1,492,200,000	1,651,700,000	2,007,200,000	1,818,200,000	9,698,000	9,931,000	1,200,000	15,572,000	15,023,000	13,795,000	12,714,000	9,252,000	4,879,000	513,000	2,022,000
total equity	1,554,600,000	1,573,400,000	1,560,000,000	1,596,300,000	1,592,200,000	1,636,000,000	1,652,800,000	1,710,400,000	1,784,900,000	1,798,400,000	2,052,300,000	2,200,600,000	1,971,400,000	2,010,400,000	1,943,200,000	1,990,400,000	2,063,200,000	1,803,900,000	1,832,900,000	1,827,800,000	1,646,300,000	1,672,700,000	1,516,600,000	1,589,100,000	1,655,000,000	1,719,200,000	1,275,700,000	1,290,300,000	1,302,200,000	1,431,200,000	1,441,800,000	1,449,700,000	1,566,700,000	2,351,700,000	2,528,000,000	2,564,100,000	2,765,900,000	3,063,200,000	2,794,300,000	775,659,000	640,335,000	412,917,000	353,585,000	363,305,000	313,251,000	312,906,000	309,704,000	290,780,000	176,406,000	179,336,000
total liabilities and equity	6,847,400,000	6,622,500,000	6,698,200,000	6,796,900,000	7,157,100,000	6,961,100,000	7,444,200,000	7,495,300,000	7,680,300,000	7,712,100,000	7,910,300,000	8,193,900,000	8,150,000,000	8,271,800,000	8,084,500,000	8,320,100,000	8,067,800,000	7,876,500,000	7,774,600,000	7,187,900,000	7,648,500,000	7,329,000,000	7,176,600,000	7,069,500,000	6,948,000,000	7,304,500,000	6,935,800,000	6,996,200,000	7,239,600,000	7,357,100,000	7,381,400,000	7,505,400,000	7,962,800,000	8,284,300,000	7,966,800,000	7,696,300,000	7,658,400,000	6,680,600,000	5,354,700,000	1,641,194,000	1,386,101,000	786,493,000	740,009,000	741,002,000	501,432,000	487,848,000	513,334,000	500,866,000	333,354,000	336,257,000
loan purchases and originations		203,300,000				231,100,000				247,200,000		244,100,000	150,800,000	149,400,000	143,700,000	141,800,000	143,500,000	130,300,000	126,400,000	134,800,000	98,500,000									27,800,000	29,400,000	28,900,000	29,700,000	87,200,000	109,200,000	151,300,000	165,100,000	336,000,000
kwe unsecured bonds			352,400,000	352,700,000	323,800,000	309,800,000	528,900,000	507,800,000	511,500,000	522,800,000	500,800,000	516,400,000	513,500,000	506,400,000	536,400,000	573,700,000	606,400,000	622,800,000	929,100,000	951,500,000	1,152,200,000	1,172,500,000	1,284,700,000	1,231,700,000	1,217,400,000	1,274,200,000	1,207,600,000	1,253,100,000	1,262,000,000	1,260,500,000	1,282,500,000	1,295,000,000	1,369,500,000
series a cumulative preferred stock, 0.0001 par value...		789,700,000				789,700,000			789,900,000	789,900,000	790,500,000	790,500,000	592,500,000	592,500,000	592,500,000	593,200,000	593,100,000	295,200,000	295,200,000	295,200,000	295,200,000	295,200,000	295,200,000	295,200,000	295,200,000	295,200,000
common stock, 0.0001 par value...																																								8,000	7,000					4,000	4,000				3,125	3,125	3,125	3,125	3,125	3,125
total kennedy-wilson holdings, inc. shareholders’ equity		1,535,100,000				1,601,200,000				1,755,100,000				1,964,000,000				1,777,600,000				1,644,500,000				1,678,700,000				1,246,700,000																	300,452,000	285,901,000	175,893,000
retained (deficit) earnings										-349,000,000
(accumulated deficit) retained earnings											-72,300,000										-18,900,000		-122,500,000	-70,200,000
retained earnings												53,400,000	47,900,000	122,100,000	132,500,000	149,200,000	191,600,000	192,400,000	196,300,000	165,400,000		17,700,000			3,400,000	46,200,000																3,765,000	3,890,000	12,561,000	16,781,000	17,777,000	17,469,000	24,187,000	15,689,000	18,829,000
common stock, 0.001 par value...
additional paid-in capital - common																										1,754,500,000
common stock, 0.001 par value per share...
real estate and acquired in place lease values, net of accumulated depreciation and amortization																															5,820,300,000	6,097,700,000	6,665,600,000	6,062,100,000	6,129,100,000	5,894,500,000	5,826,100,000	4,776,400,000	3,553,400,000
liabilities and equity
common stock																																										5,000	5,000	5,000	4,000			4,000	4,000	4,000	74,099,990	74,099,990	74,099,990	74,099,990	74,099,990	74,099,990	74,099,990
cash held by consolidated investments																																		695,600,000	692,500,000	672,500,000	717,200,000	474,900,000	292,800,000
line of credit																																		350,000,000		100,000,000	50,000,000
investment debt																																		4,192,800,000	4,047,600,000	3,906,300,000	3,729,400,000	2,672,700,000	1,528,700,000
senior notes payable																																		937,600,000	936,500,000	689,400,000	689,200,000	702,400,000	706,000,000	409,196,000	409,497,000	249,398,000	249,372,000	249,357,000
cumulative preferred stock, 0.0001 par value per share...
accounts payable, accrued expenses and other liabilities																																						242,300,000	285,700,000
loans																																							402,300,000
junior subordinated debentures																																							40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000	40,000,000				40,000,000
accumulated other comprehensive income																																							1,600,000	5,553,000	1,807,000	11,619,000	7,467,000	9,250,000	8,156,000	9,043,000	7,701,000	4,789,000	2,407,000	2,603,000
short-term investments																																									10,000,000
accounts receivable — related parties																																								31,433,000	19,027,000	19,537,000	10,596,000	6,908,000	7,337,000
notes receivable																																								22,444,000	19,578,000	8,250,000	16,946,000	11,190,000	14,223,000	20,264,000	27,661,000	27,111,000	541,000	541,000
notes receivable — related parties																																								5,785,000	2,544,000	34,830,000	22,292,000	8,680,000	6,749,000
real estate, net of accumulated depreciation of 13,032,000 and 7,412,000 at september 30, 2013 and december 31, 2012, respectively																																								518,047,000
investments in joint ventures																																								742,221,000	575,256,000	336,699,000	345,038,000	334,091,000	287,408,000	266,886,000	242,298,000	190,594,000	198,417,000	185,252,000
investments in loan pool participations																																								58,774,000	84,236,000
goodwill																																								23,965,000	23,965,000	23,965,000	23,965,000	23,965,000	23,965,000	23,965,000				23,965,000
accrued salaries and benefits																																								20,081,000	4,664,000	2,301,000	5,014,000	3,959,000	2,579,000	10,721,000				4,401,000
deferred tax liability																																								16,937,000	13,931,000	22,671,000				25,871,000				15,439,000
mortgage loans payable																																								340,366,000	251,135,000	30,748,000	38,217,000	38,217,000	39,454,000	35,249,000				23,968,000
cumulative preferred stock, 0.0001 par value: 1,000,000 shares authorized 1,000 per share liquidation preference:
6.00% series a, 100,000 shares issued and outstanding as of september 30, 2013 and december 31, 2012, mandatorily convertible on may 19, 2015
6.45% series b, 32,550 shares issued and outstanding as of september 30, 2013 and december 31, 2012, mandatorily convertible on november 3, 2018
common stock held in treasury, at cost, 0.0001 par value...																																									-9,856,000	-11,889,000	-11,337,000	-11,337,000	-11,332,000
real estate, net of accumulated depreciation																																									403,612,000					82,701,000
6.00% series a, 100,000 shares issued and outstanding as of march 31, 2013 and december 31, 2012, mandatorily convertible on may 19, 2015
6.45% series b, 32,550 shares issued and outstanding as of march 31, 2013 and december 31, 2012, mandatorily convertible on november 3, 2018
real estate																																										112,790,000	113,619,000	115,443,000	88,313,000		130,077,000	130,248,000	40,591,000
loan pool participations																																										91,162,000	31,590,000	28,262,000	27,092,000
marketable securities																																										13,571,000	5,658,000
6.00% series a, 100,000 shares issued as of march 31, 2012 and december 31, 2011, mandatorily convertible on may 19, 2015
6.45% series b, 32,550 shares issued as of march 31, 2012 and december 31, 2011, mandatorily convertible on november 3, 2018
accrued and deferred tax liability																																											22,572,000	26,773,000	25,873,000
notes payable																																													23,383,000	24,783,000				26,133,000
borrowings under line of credit																																													46,750,000	27,750,000				10,000,000
cumulative preferred stock, 0.0001 par value: 1,000,000 shares authorized 1,000 per share liquidation preference,
6.00% series a, 100,000 shares issued as of september 30, 2011 and december 31, 2010, mandatorily convertible on may 19, 2015
6.46% series b, 32,550 shares issued as of september 30, 2011 and december 31, 2010, mandatorily convertible on november 3, 2018
6.00% series a, 100,000 shares issued as of june 30, 2011 and december 31, 2010, mandatorily convertible on may 19, 2015
6.46% series b, 32,550 shares issued as of june 30, 2011 and december 31, 2010, mandatorily convertible on november 3, 2018
6.00% series a, 100,000 shares issued as of march 31, 2011 and december 31, 2010, mandatorily convertible on may 19, 2015
6.46% series b, 32,550 shares issued as of march 31, 2011 and december 31, 2010, mandatorily convertible on november 3, 2018
accounts receivable—related parties																																														7,062,000				4,278,000
income tax receivable																																																2,387,000	8,538,000	6,848,000
notes receivable—related parties																																														3,837,000				6,644,000
real estate available for sale
investment in loan pool participations																																														25,218,000
convertible subordinated debt																																																		27,472,000
cumulative preferred stock, 0.0001 par value...
6.00% series a, 100,000 and 0 shares issued and outstanding as of december 31, 2010 and 2009, respectively, mandatorily convertible on may 19, 2015
6.452% series b, 32,550 and 0 shares issued and outstanding as of december 31, 2010 and 2009, respectively, mandatorily convertible on november 18, 2018
shares held in treasury at cost, 0.0001 par value...																																														-11,301,000	-10,180,000
total kennedy-wilson holdings, inc. stockholders’ equity																																														300,192,000				177,314,000
accounts receivable - related parties																																															7,232,000	6,502,000	3,933,000
notes receivable - related parties																																															1,898,000	5,073,000	5,901,000
investment in loan pool participation																																															15,947,000
goodwill and other assets																																															35,132,000	32,396,000	30,700,000
accounts payable and other liabilities																																															41,645,000	26,914,000	29,865,000
line of credit, notes payable, mortgages and other long-term debt																																															161,985,000	183,172,000	127,083,000
6.00% series a, 100,000 and 0 shares issued and outstanding as of september 30, 2010 and december 31, 2009, respectively, mandatorily convertible on may 19, 2015
6.452% series b, 32,550 and 0 shares issued and outstanding as of september 30, 2010 and december 31, 2009, respectively, mandatorily convertible on november 3, 2018
investments in loan pool participation																																																12,689,000
6.0% convertible series a cumulative preferred stock, 0.0001 par value: 1,000,000 shares authorized, 100,000 and 0 shares issued as of june 30, 2010 and december 31, 2009, respectively 1,000 per share liquidation preference, mandatorily convertible on may 19, 2015
preferred stock, 0.0001 par value: 1,000,000 authorized and 0 shares issued at march 31, 2010 and december 31, 2009
investments in real estate																																																		40,581,000
investments in real estate available for sale																																																		2,472,000
preferred stock, .0001 par value...
current assets:
cash																																																			548,696	9,425	68,861	28,678	4,884	5,000	58,075
investments held in trust account																																																			247,701,876	248,535,987	248,755,097	248,924,201
accrued interest income on trust account																																																			6,219	2,616	7,058	59,219	282,853	305,973
prepaid expenses																																																			16,741	40,122	43,953	60,716	84,122	251,165
prepaid taxes																																																			220,963	212,270	208,534	203,588	82,579
total current assets																																																			248,494,495	248,800,420	249,083,503	249,276,402	249,176,270	248,901,027
deferred tax asset																																																			688,046	315,649	267,778	173,158	130,946	100,200
liabilities and stockholders’ equity
current liabilities:
accrued expenses																																																			928,897	100,957	230,521	186,097	75,720	47,942
deferred interest income																																																			80,193	76,181	71,420	67,148
deferred underwriting commission																																																			10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000
commitments and contingencies
stockholders’ equity
preferred stock, 0.0001 par value...
retained earnings accumulated during the development stage																																																			1,103,549	1,869,029	1,979,438		2,161,594	1,883,383
total stockholders’ equity																																																			164,073,461	164,838,941	164,949,350	165,096,325	165,131,506	164,853,295	163,585,110
total liabilities and stockholders’ equity																																																			249,182,541	249,116,069	249,351,281	249,449,560	249,307,216	249,001,227
accrued offering costs
income taxes payable
earnings accumulated during the development stage																																																						2,126,413
cash held in trust account																																																							248,721,832	248,338,889	248,080,541
working capital																																																									237,685,100

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-03-31	2018-03-31	2016-09-30	2016-06-30	2016-03-31	2015-03-31	2014-06-30	2013-03-31	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30

cash flows from operating activities:
net income	24,500,000				-29,600,000			-48,300,000	37,700,000	-235,900,000	-64,100,000	47,300,000	-28,700,000	39,200,000	23,600,000	-900,000	40,000,000	44,300,000	72,500,000	221,200,000	-1,600,000	172,500,000	-19,700,000	-39,100,000	-5,900,000	158,900,000	1,600,000	-1,000,000	13,100,000	-2,300,000	20,500,000	-4,300,000	116,195,000	-2,595,000	1,482,000	-4,878,000	514,000	2,078,000					-8,634,136	-765,480	-110,409	-146,975	-35,181	278,211
adjustments to reconcile net loss to net cash from operating activities:
loss on sale of real estate	-5,500,000				800,000
depreciation and amortization	32,200,000	31,800,000	32,600,000	34,500,000	34,100,000	36,100,000	36,900,000	36,400,000	38,900,000	39,500,000	38,800,000	40,100,000	39,400,000	40,200,000	46,100,000	43,300,000	43,300,000	41,000,000	39,200,000	41,700,000	44,400,000	44,500,000	44,300,000	45,300,000	45,500,000	45,900,000	49,100,000	55,700,000	50,000,000	49,000,000	48,300,000	36,600,000	29,543,000	3,057,000	937,000	931,000	463,000	434,000
above/below market and straight-line rent amortization	-2,100,000	600,000	100,000	-400,000	100,000	300,000	-1,100,000	-1,200,000	400,000	100,000	-2,300,000	-900,000	-2,400,000		-2,800,000	-2,500,000	-1,200,000		500,000	900,000	7,100,000		-1,100,000
uncollectible lease income	100,000	500,000	1,100,000	500,000	200,000	1,500,000	600,000	800,000	700,000	800,000	1,600,000	1,200,000	1,800,000	1,500,000	2,200,000	2,500,000	1,800,000	3,100,000
accretion of discount on loans receivable	-200,000		-400,000	1,700,000	-2,900,000		-1,000,000	-1,000,000	-1,100,000
provision for credit losses			900,000	2,600,000	500,000		1,800,000	2,900,000	5,600,000
benefit from deferred income taxes	-13,300,000		-19,100,000				-11,900,000											30,100,000	20,300,000	63,600,000	-1,800,000						-100,000	-4,500,000							-84,000
amortization of deferred loan costs	3,100,000		4,400,000	3,000,000	2,700,000		3,000,000	2,100,000	2,200,000		2,400,000	2,300,000	2,100,000		2,400,000	2,100,000	2,100,000		1,200,000	5,900,000	6,400,000		1,800,000	1,900,000	2,200,000		2,600,000	3,100,000	4,600,000	2,700,000	2,500,000	700,000	1,052,000	548,000	252,000	250,000	228,000	71,000
amortization of discount and accretion of premium on issuance of senior notes and mortgage debt	100,000		-2,300,000	1,800,000	4,200,000		4,500,000
unrealized net loss on derivatives	-7,000,000		1,700,000	3,900,000	4,400,000	1,700,000			2,100,000																-1,900,000
income from unconsolidated investments	-58,500,000											1,400,000	-5,700,000	-30,000,000	-12,300,000	-30,700,000	-105,400,000	-175,100,000	-143,100,000	-52,400,000	-18,400,000	-36,000,000	-14,900,000	-19,200,000	-10,900,000	-48,100,000	-41,700,000	-26,000,000
operating distributions from unconsolidated investments	16,300,000	17,800,000	18,600,000	15,200,000	16,000,000	17,200,000	14,200,000	15,400,000	14,000,000	15,700,000	18,300,000	16,100,000	19,100,000	19,600,000	19,900,000	20,600,000	18,000,000	37,200,000	14,300,000	14,300,000	16,400,000	14,900,000	15,300,000	13,800,000	15,700,000	40,100,000	12,000,000	7,900,000	36,000,000	11,300,000	6,600,000	17,000,000
deferred compensation	1,600,000	3,300,000	6,000,000	1,300,000	-200,000	800,000	-3,000,000	-2,000,000	-3,700,000	-7,500,000	-3,600,000	2,000,000	5,300,000	-4,800,000	-4,100,000	1,200,000	15,300,000	44,900,000	6,200,000	2,600,000	2,600,000	1,900,000	1,000,000	2,000,000	1,500,000	1,100,000	900,000
share-based compensation	4,600,000		6,500,000	6,500,000	6,300,000		6,100,000	6,000,000	5,200,000		7,300,000	7,300,000	7,100,000		7,300,000	7,300,000	7,100,000		6,900,000	7,300,000	7,700,000		7,600,000	8,300,000	8,600,000		10,400,000	9,900,000	15,600,000	14,700,000	17,500,000
change in assets and liabilities:
accounts receivable	-4,100,000	-400,000	-100,000	-8,100,000	4,100,000	800,000	-2,300,000	-600,000	13,700,000	-12,000,000	-9,300,000	500,000	-3,000,000	-3,400,000	1,100,000	-6,800,000	-4,300,000	1,400,000	-1,500,000	-1,900,000	1,500,000	4,600,000	6,800,000	-8,100,000	1,200,000	1,100,000	9,900,000	14,600,000	15,200,000	-17,700,000	-12,000,000	-1,900,000	-12,758,000	-3,042,000	-421,000	473,000	189,000	-472,000
other assets	-3,000,000	500,000	-5,600,000	8,800,000	-7,100,000	3,700,000	-1,500,000	-5,300,000	-1,400,000	3,300,000	-2,800,000	3,200,000	-5,000,000	11,000,000	-2,800,000	-7,200,000	-10,700,000	-300,000	-3,600,000	4,000,000	-18,900,000		-1,500,000	400,000	-8,500,000	-200,000	-6,200,000	-100,000	-5,600,000	-2,700,000	-11,600,000	700,000	-2,356,000	-2,044,000	110,000	-130,000	-3,737,000	380,000
accounts payable, accrued expenses and other liabilities	-76,700,000		3,800,000	17,900,000	-67,000,000		-11,800,000	31,600,000	-31,100,000		-5,800,000	49,200,000	-75,300,000		-300,000	33,000,000	-61,000,000		-19,100,000	26,000,000	-48,700,000		40,200,000	-25,000,000	-36,300,000		-27,200,000	22,500,000	-4,800,000	16,900,000	-29,500,000
net cash from operating activities	-87,900,000	28,900,000	-7,600,000	42,000,000	-51,900,000	29,600,000	-5,600,000	36,700,000	-5,600,000	51,600,000	-400,000	64,700,000	-67,000,000	37,600,000	16,800,000	37,400,000	-58,900,000	54,400,000	-18,400,000	10,300,000	-76,600,000	-7,200,000	60,400,000	-29,200,000	-36,600,000	20,000,000	-25,100,000	48,800,000	67,900,000	19,400,000	-8,900,000	-16,600,000	92,665,000	-27,565,000	-11,898,000	-1,593,000	-829,000	-12,047,000	3,124,000	7,134,000	-4,800,000	-3,301,000
capital expenditures	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	-87,900,000	28,900,000	-7,600,000	42,000,000	-51,900,000	29,600,000	-5,600,000	36,700,000	-5,600,000	51,600,000	-400,000	64,700,000	-67,000,000	37,600,000	16,800,000	37,400,000	-58,900,000	54,400,000	-18,400,000	10,300,000	-76,600,000	-7,200,000	60,400,000	-29,200,000	-36,600,000	20,000,000	-25,100,000	48,800,000	67,900,000	19,400,000	-8,900,000	-16,600,000	92,665,000	-27,565,000	-11,898,000	-1,593,000	-829,000	-12,047,000	3,124,000	7,134,000	-4,800,000	-3,301,000
cash flows from investing activities:
proceeds from collection of loans receivable	21,600,000		7,900,000	8,800,000	24,100,000		11,100,000	12,500,000	2,800,000
issuance and acquisition of loans receivable, net of discounts	-14,400,000		-13,600,000	-16,900,000	-9,100,000		-10,300,000	-11,500,000	-9,500,000
net proceeds from sale of consolidated real estate	103,400,000	111,000,000	30,800,000	410,800,000	13,100,000	131,900,000	127,000,000	2,400,000	328,200,000	101,300,000	108,500,000	62,200,000	111,900,000	58,200,000	145,200,000	88,600,000	33,900,000	14,100,000	78,200,000	165,800,000	228,300,000	599,300,000	47,600,000	-1,100,000	182,000,000	349,700,000	177,300,000
purchases of real estate	-38,300,000		0	0	-25,700,000		-9,200,000								-53,500,000	-251,300,000	-103,700,000		-399,800,000
capital expenditures to real estate	-9,500,000	-35,800,000	-10,400,000	-12,600,000	-7,800,000	-20,800,000	-22,100,000	-37,200,000	-51,500,000	-70,700,000	-53,000,000	-54,300,000	-39,200,000	-51,600,000	-49,600,000	-33,100,000	-26,600,000	-37,700,000	-32,900,000	-21,300,000	-47,300,000	-79,500,000	-35,900,000	-41,200,000	-37,500,000	-46,200,000	-56,900,000
payments for business acquired, net of cash acquired	-8,000,000
premiums paid on derivative contracts	-1,000,000		-5,900,000
distributions from unconsolidated investments	52,100,000		141,200,000	160,900,000	6,400,000		18,100,000	2,100,000	2,700,000		3,100,000	31,300,000	15,200,000		63,300,000	71,500,000	7,200,000		28,300,000	5,100,000	21,600,000		16,900,000	9,300,000	79,300,000		5,600,000	13,100,000	28,200,000	11,400,000	23,800,000	8,000,000
contributions to unconsolidated investments	-24,700,000	-100,000,000	-20,400,000	-66,000,000	-21,800,000	-38,100,000	-27,500,000	-31,200,000	-28,200,000	-46,500,000	-27,100,000	-43,500,000	-50,300,000	-33,700,000	-63,600,000	-114,400,000	-149,600,000	-102,200,000	-75,000,000	-50,800,000	-52,800,000	-43,400,000	-3,700,000	-19,200,000	-45,300,000	-120,600,000	-20,300,000	-18,800,000	-24,700,000	-22,400,000	-23,200,000	-15,200,000
net cash from investing activities	81,200,000	-65,900,000	129,600,000	485,000,000	-22,900,000	156,000,000	84,600,000	-71,200,000	244,800,000	8,900,000	39,200,000	-96,700,000	36,900,000	-2,800,000	116,600,000	-229,100,000	-246,300,000	-357,700,000	-419,300,000	-413,900,000	152,900,000	456,600,000	-48,000,000	-57,800,000	240,000,000	76,300,000	100,800,000	-54,600,000	-204,000,000	-267,800,000	148,400,000	-792,200,000	-1,669,760,000	-16,940,000	27,398,000	-44,991,000	-50,832,000	-16,499,000	-5,539,000	-44,489,000	-56,739,000	-8,069,000		852,799	250,000	245,000	417,499	591,193
cash flows from financing activities:
borrowings under line of credit	195,000,000	321,000,000	0	0	170,000,000		0	0	100,000,000		0	25,000,000	25,000,000				175,000,000						0					75,000,000	25,000,000	50,000,000	50,000,000	25,000,000	55,000,000	35,000,000
repayment of line of credit	-109,300,000	-138,500,000	0				0				0	-125,000,000	-60,000,000				-250,000,000				-150,000,000											-150,000,000	-55,000,000	-35,000,000
borrowings under mortgage debt	57,100,000	222,700,000	5,200,000			249,500,000	13,600,000	24,200,000	73,400,000	38,100,000	34,800,000	25,900,000	310,100,000	17,800,000	206,700,000	74,100,000	102,700,000	306,200,000	462,300,000	326,000,000	50,400,000	151,900,000			22,700,000
repayment of mortgage debt	-89,300,000	-154,500,000	-10,800,000	-299,200,000	-4,800,000	-290,800,000	-62,400,000	-40,100,000	-127,800,000	-59,600,000	-66,900,000	-17,200,000	-302,700,000	-52,700,000	-258,200,000	-77,400,000	-1,300,000	-11,200,000	-96,600,000	-92,700,000	-67,700,000	-342,400,000			-51,600,000
payment of deferred loan costs	-1,500,000		0				-7,800,000	-200,000	-400,000
repurchase and retirement of common stock	-11,800,000		0	-2,500,000	-6,700,000		-200,000	-5,700,000	-9,100,000		0	0	-13,400,000		-100,000	200,000	-31,300,000		-24,900,000	-6,500,000	-14,300,000		-20,000,000	-700,000	-25,600,000		-7,900,000	-22,000,000	-600,000	-29,700,000	-13,100,000	-3,100,000
common dividends paid	-16,700,000		-16,600,000	-16,600,000	-18,300,000		-16,500,000	-33,100,000	-34,100,000		-33,400,000	-33,500,000	-35,600,000		-32,900,000	-32,800,000	-36,100,000		-29,900,000	-31,500,000	-32,600,000		-30,500,000	-30,600,000	-31,600,000
preferred dividends paid	-10,900,000		-10,800,000	-10,900,000	-10,900,000		-10,800,000	-10,900,000	-10,900,000		-7,900,000	-7,800,000	-7,900,000		-9,400,000	-4,300,000	-4,300,000		-4,300,000	-4,300,000	-4,300,000		-4,300,000	-4,300,000	-3,300,000
loan receivable proceeds received from equity partners	-2,100,000	800,000	-14,900,000
distributions to noncontrolling interests	-1,100,000	-14,900,000	-1,200,000	-3,700,000	-1,000,000	-2,500,000	-1,800,000	-1,400,000	-800,000	-1,900,000	-19,700,000	-1,100,000	-5,000,000	-200,000	-9,300,000	-900,000	-400,000	-12,800,000	-3,400,000	-2,400,000	-100,000	-700,000	-16,400,000	-1,600,000	-200,000	-4,100,000	-122,700,000	-1,200,000	-21,300,000	-29,800,000	-43,700,000	-47,900,000	-13,482,000	-18,000	-4,931,000	-180,000	-182,000	-334,000	-1,146,000	-19,000	0	-2,077,000
net cash from financing activities	9,400,000	-146,800,000	-48,800,000	-583,200,000	218,800,000	-327,700,000	-85,900,000	-142,100,000	-9,800,000	-76,800,000	-93,100,000	66,100,000	-61,000,000	-43,100,000	-152,800,000	208,700,000	251,400,000	-12,800,000	603,000,000	-350,800,000	392,600,000	-236,600,000	-31,700,000	155,000,000	-93,300,000	93,400,000	-122,900,000	79,100,000	262,900,000	247,000,000	26,000,000	569,800,000	1,897,712,000	126,188,000	-9,070,000	-4,660,000	203,785,000	19,747,000	-3,576,000	-8,940,000	106,361,000	-2,685,000
effect of currency exchange rate changes on cash and cash equivalents	-2,600,000	-14,300,000	300,000	8,700,000	-4,900,000				-1,200,000	-900,000	-1,800,000	3,600,000	1,100,000	27,300,000	-20,900,000	-18,500,000	-8,900,000	100,000	-11,000,000	2,300,000	4,600,000	25,100,000	11,900,000	1,000,000	-18,400,000	-1,600,000	2,100,000	8,400,000	-7,600,000	-40,700,000	1,000,000	-28,800,000	23,290,000	-4,090,000	-39,000	7,440,000	3,601,000	-2,676,000	2,246,000	4,807,000
net change in cash and cash equivalents	100,000	-198,100,000	73,500,000	-47,500,000	139,100,000	-149,600,000	600,000	-175,400,000	228,200,000	-17,200,000	-56,100,000	37,700,000	-90,000,000	19,000,000	-40,300,000	-1,500,000	-62,700,000	-316,000,000	154,300,000	-752,100,000	473,500,000	237,900,000	-7,400,000	69,000,000	91,700,000	188,100,000	-45,100,000	81,700,000	119,200,000	-42,100,000	166,500,000	-267,800,000	343,907,000	77,593,000	6,391,000	-43,804,000	155,725,000	-11,475,000
cash and cash equivalents, beginning of period	184,500,000		0	0	217,500,000		0	0	313,700,000		0	0	439,300,000		0	0	524,800,000		0	0	965,100,000		-100,000	100,000	573,900,000		488,000,000	351,300,000	0	0	731,600,000	937,700,000	57,345,000	120,855,000	115,926,000	0	0	46,968,000		0
cash and cash equivalents, end of period	184,600,000		73,500,000	-47,500,000	356,600,000		600,000	-175,400,000	541,900,000		-56,100,000	37,700,000	349,300,000		-40,300,000	-1,500,000	462,100,000		154,300,000	-752,100,000	1,438,600,000		-7,500,000	69,100,000	665,600,000		442,900,000	433,000,000	119,200,000	-42,100,000	898,100,000	669,900,000	401,252,000	198,448,000	122,317,000	-43,804,000	155,725,000	35,493,000		-41,488,000
adjustments to reconcile net income to net cash from operating activities:
gain on sale of real estate		-29,300,000	-11,100,000			-47,300,000	-6,200,000	-200,000	-106,400,000	11,000,000	-30,400,000	-89,000,000	-19,200,000	-52,900,000	-37,000,000						-73,500,000
provision for deferred income taxes					-7,100,000				13,600,000	-44,900,000			-6,200,000	6,700,000			5,700,000					48,100,000	-15,900,000	-4,900,000	-100,000	-100,000				-7,200,000	600,000		35,903,000	-1,703,000		-2,942,000	172,000	570,000
amortization of loan fees
amortization of discount and accretion of premium and transactional foreign exchange
unrealized net loss derivatives
loss on early extinguishment of debt
loss from unconsolidated investments		-97,100,000	-34,500,000	200,000	-11,400,000	-51,600,000	20,300,000	18,100,000	6,700,000	183,100,000
provision for loan loss reserves
accretion of discount on loans
share-based compensation expense
accrued expenses and other liabilities																																-36,800,000	58,116,000	-6,416,000	2,681,000	6,482,000	6,165,000	501,000
issuance of loans													-3,500,000	-11,900,000	-14,400,000	-11,200,000	-13,400,000	-19,100,000	-12,700,000	-38,700,000	-12,900,000	-9,400,000	-72,400,000	-500,000	-6,300,000	-1,000,000
proceeds from collection of loans												9,800,000	2,100,000	6,100,000	15,800,000	12,500,000	100,000	15,100,000	20,900,000			200,000	0	900,000	33,000,000	100,000
deposit for unconsolidated investment
purchases of consolidated real estate																										-113,900,000
investing distributions from unconsolidated investments
proceeds from settlement of derivative contracts
premiums paid for settlement of derivative contracts
cash flow from financing activities:
repayment of kwe notes
payment of loan fees
issuance of common stock, net of issuance costs
repurchase of common stock																																			-41,000	0	-5,000	-31,000	-1,121,000
preferred stock issuance, net of issuance costs
common stock dividends paid
preferred stock dividends paid
contributions from noncontrolling interests		0				500,000	0			300,000	100,000	800,000	100,000	20,200,000	4,200,000	800,000	600,000	3,300,000	600,000	3,000,000	900,000	1,700,000	900,000	1,600,000	300,000	4,000,000	5,300,000									771,000	1,111,000	377,000	4,003,000	3,177,000
cash and cash equivalents, beginning of year																																										57,784,000
cash and cash equivalents, end of year
net loss			-10,200,000
proceeds from issuance of common stock, net of issuance costs							0	0	-100,000		-100,000	700,000	29,300,000
(premiums paid for) proceeds from settlement of derivative contracts					-2,100,000
loan receivable proceeds held for distribution					90,500,000
borrowings under line of credit/term loan
repayment of line of credit/term loan
(premiums paid) proceeds from settlement of derivative contracts
issuance of preferred stock																																							0	32,451,000
unrealized net gain on derivatives											900,000			5,900,000	-38,600,000	-5,700,000	-7,500,000	-1,200,000	-1,100,000	-1,200,000	-1,100,000		-1,100,000
(premiums) proceeds from on settlement of derivative contracts
purchases of derivative contracts
amortization of discount and accretion of premium on senior notes and mortgage debt									-2,700,000
proceeds from on settlement of derivative contracts									300,000		-1,300,000
loss on extinguishment of debt
accretion of interest income on loans																		-100,000	-100,000	0	-300,000	-100,000				0		-600,000
borrowings under senior notes payable																		0	600,000,000	0	1,204,300,000							246,600,000
repayment of senior notes payable																		0	0	-573,100,000	-576,900,000
repayment of kwe bonds
issuance of preferred stock, net of issuance costs											0				-700,000	100,000	297,900,000
amortization of discount and accretion of premium on issuance of the senior notes and mortgage debt												2,200,000	1,300,000		-200,000	-500,000	-200,000		-200,000	1,200,000	1,600,000							100,000
issuance and acquisition of loans, net of discounts
payment of debt issuance costs												300,000	-900,000
unrealized net losses (gain) on derivatives													2,400,000
proceeds from settlement of foreign derivative contracts													700,000										0	3,800,000	32,500,000				17,600,000	3,100,000	22,600,000	30,100,000
above/below and straight-line rent amortization																									-3,700,000	-600,000	-2,000,000	-4,600,000
gain on extinguishment of debt
operating distributions from loans
investment in marketable securities																												-200,000	-200,000	200,000	-900,000
proceeds from sale of marketable securities																												7,200,000				6,200,000			21,386,000
premiums from settlement of derivative contracts
proceeds from sale of development project asset
at-the-market equity offering program costs														0	-300,000
preferred stock issuance
borrowings on shareholder loans to noncontrolling interests
proceeds from (premiums paid) on settlement of foreign derivative contracts															73,400,000
repayment of kwe unsecured bonds																			0
(benefit from) benefit from deferred income taxes																																-10,200,000
borrowings under lines of credit																			0																	0	0	19,000,000	11,000,000	7,700,000	25,550,000	4,000,000
repayment of lines of credit																			-288,500,000									-175,000,000								0			-5,000,000	0
payment of debt issue costs																-700,000	-1,400,000		-12,300,000	-1,600,000	-17,100,000		-100,000	-300,000	-4,300,000
gain from sale of real estate																	-1,900,000																			0	0	-20,000
proceeds from (premiums paid) settlement of foreign derivative contracts																	5,800,000
amortization of discount and accretion of premium on senior notes payable
stock compensation expense
proceeds from settlement of foreign currency derivative contracts
additions to development project asset																										-100,000	-1,200,000	-8,400,000
borrowings (repayment) of shareholder loans to noncontrolling interests
unrealized loss on marketable securities
operating distributions from loan purchases and originations																												600,000	4,000,000	100,000	9,000,000	2,000,000
purchase of marketable securities																							-400,000
(premiums paid) proceeds from settlement of foreign derivative contracts																			-26,300,000
proceeds from development project asset																							-100,000	0	2,300,000	0	1,700,000	38,900,000
issuance of shareholder loans to noncontrolling interests
net gain from sale of real estate																							-4,000,000			-182,000,000	-34,800,000	-29,100,000	-21,500,000	-19,200,000	-38,900,000	-6,200,000			212,000
accounts receivable - collection no longer probable
proceeds from loan repayments and sales																					19,800,000
(premiums) proceeds from settlement of foreign derivative contracts																					-3,800,000							-4,200,000
gain on sale of a business
unrealized net gains on derivatives																														-5,700,000	-600,000
net proceeds from sale of a business
nonrefundable escrow deposits
purchases of foreign currency derivative contracts
kwe closing dividend																												-17,200,000
issuance (repayment) of shareholder loans to noncontrolling interests																							600,000	300,000	300,000
amortization of discount and accretion of premium on issuance of the senior notes and investment debt																									200,000		200,000		-500,000	-300,000	-200,000	-4,900,000
borrowings under investment debt																											296,900,000	98,000,000	456,900,000	350,300,000	126,200,000	843,600,000
repayment of investment debt																											-251,400,000	-29,200,000	-309,600,000	-56,400,000	-41,100,000	-246,600,000
net gain on sale of real estate																									-44,200,000
additions to non refundable escrow deposits																											-5,000,000
unrealized net losses on derivatives
costs associated with kwe transaction
cash paid to acquire noncontrolling interest in kwe
repayment of shareholder loans to noncontrolling interests																										300,000	-10,700,000
acquisition of noncontrolling interests
purchases of foreign derivative contracts																													-2,400,000	0	-3,400,000	-3,600,000
repayment of term loan																												-75,000,000
dividends paid																											-30,300,000		-16,500,000	-16,700,000	-14,300,000	-10,700,000	-10,981,000	-7,119,000	-4,098,000	-3,824,000	-2,025,000	-2,025,000	-2,025,000	-1,788,000
unrealized net income on derivatives																											200,000	300,000
collections of loans																												4,500,000	6,600,000	8,600,000	130,200,000
additions to loans																											-400,000		-10,800,000	-500,000	-4,800,000	-87,500,000
debt issue costs																											-2,100,000	-4,600,000	-5,700,000	-1,500,000	-2,200,000	-9,200,000	-10,944,000	-356,000		-305,000	-7,136,000	-45,000	1,000	-597,000	-2,000	-46,000
purchases of and additions to consolidated real estate
acquisition of kwe shares from noncontrolling interest holders																													-2,700,000	-26,600,000	-41,300,000	-22,500,000
contributions from noncontrolling interests, excluding kwe																												13,000,000	12,400,000	7,400,000	5,500,000	4,100,000
net proceeds from sale of real estate																												113,900,000	82,600,000	75,400,000	108,000,000	34,400,000	11,590,000	3,410,000	17,905,000	0	84,000	332,000		0	0	3,639,000
purchases of and additions to real estate																												-190,200,000	-300,900,000	-345,300,000	-102,200,000	-757,100,000	-1,274,193,000	-15,607,000	-15,414,000	-1,041,000			-5,186,000	-14,735,000	-3,662,000	-181,000
additions to non-refundable escrow deposits																												-10,400,000
kw common stock dividends paid																												-29,300,000
acquisition-related gain																													-7,600,000			-4,200,000	-160,841,000	-9,459,000
income from unconsolidated investments and loan purchases and originations																													-35,000,000	-11,600,000	-21,100,000	-12,800,000
issuance of common stock																																187,100,000	56,898,000	133,802,000		0
additions to nonrefundable escrow deposits																															-1,700,000	-7,500,000
adjustments to reconcile net income to net cash provided (used in) by operating activities:
unrealized net incomees on derivatives																																400,000
stock-based compensation																																7,300,000	1,631,000	1,769,000
proceeds from the issuance of kwe shares
repurchase of warrants																																				-1,122,000			-2,916,000	-5,863,000
change in restricted cash
net loss from sale of real estate																																		-763,000
gain from sale of marketable securities																																			-2,931,000
amortization of discount and accretion of premium on issuance of the senior notes and mortgage loan payable																																		-212,000
equity in joint venture income																																		344,000	-5,516,000	578,000	-2,551,000	-5,256,000
accretion of interest income on loan pool participations and notes receivable																																		-2,560,000	-538,000	-975,000	-2,241,000	-2,546,000
operating distributions from joint ventures																																		6,116,000	6,886,000	95,000	2,441,000	104,000
operating distributions from loan pool participation																																		2,328,000	1,151,000	363,000	549,000	286,000
accounts receivable—related parties																																		3,366,000	-3,925,000	-3,688,000	429,000	-275,000
accounts payable																																		-648,000	-801,000	-518,000	207,000	-927,000
accrued salaries and benefits																																		-15,651,000	-12,277,000	1,055,000	1,380,000	-8,142,000
additions to notes receivable																																		-5,700,000	-61,000				1,554,000	-564,000
additions to notes receivable—related parties																																		-2,544,000	-1,561,000	-15,000,000	-5,410,000	-2,912,000
proceeds from sale of interest in an entity																																		26,739,000
distributions from joint ventures																																		15,013,000	10,461,000	7,341,000	8,203,000	2,963,000	5,716,000
contributions to joint ventures																																		-45,928,000	-5,318,000	-21,825,000	-56,555,000	-17,112,000	-17,058,000	-36,782,000	-17,781,000	-12,270,000
distributions from loan pool participations																																		13,829,000
contributions to loan pool participations																																		-6,152,000				-82,000
repayment of mortgage loans payable																																		-121,000		0	-29,238,000	-871,000	-4,972,000	1,000	-16,521,000	-3,243,000
amortization of discount and accretion of premium on issuance of the senior notes payable																																			13,000	15,000
stock based compensation																																			871,000	1,296,000	1,298,000	1,167,000
settlements of notes receivable																																				73,000	174,000	312,000
repayment of notes payable																																				0	-23,383,000	-1,400,000	-1,400,000	-1,400,000	-1,400,000	-1,400,000
borrowings under mortgage loans payable																																				0	12,001,000	5,076,000	0	128,000	19,807,000	81,000
remeasurement gain																																				0
amortization of beneficial conversion of convertible subordinated debt
income tax receivable
settlements of notes receivable—related parties																																				1,388,000
issuance of senior notes payable																																				0
borrowings under notes payable																																							0	0
repayment of convertible subordinated debt																																							0
supplemental disclosure of non-cash investing activities:
unrealized loss on marketable security, net of tax of 129,000
accretion of preferred stock issuance costs																																						11,000
gain from sale of real estate—related party
gain on early extinguishment of debt
note receivable and accrued interest forgiven in merger
amortization of deferred compensation
2009 equity participation plan replacement payment
other than temporary impairment on available-for-sale security, net of tax
accounts receivable—related party
income taxes payable
additions to notes receivable—related party
settlements of notes receivable—related party
additions to notes receivable from sale of real estate
settlements of notes receivable from sale of real estate
net proceeds from sale of real estate held for sale
net proceeds from sale of real estate—related party
assets acquired in merger
contributions to loan pool participation
issuance of convertible subordinated debt
unrealized loss on marketable security, net of tax of 5,000 and 129,000, respectively
acretion of preferred stock issuance costs
collections of notes receivable																																								15,000
additions to notes receivable - related parties																																								-600,000
collections of notes receivable - related parties																																								3,775,000
investment in loan pool participations																																								-59,000
net decrease in cash and cash equivalents																																										-14,055,000
supplemental disclosure of non-cash investing and financing activities
unrealized gain on marketable security, net of tax of 5,000 and 129,000, respectively
during the nine months ended september 30, 2010, as a result of the consolidation of two of kennedy-wilson’s joint ventures, accounts receivable increased by 171,000, real estate increased by 71,862,000, investment in joint venture decreased by 6,256,000, other assets increased by 3,174,000, accrued expenses and other liabilities increased by 323,000 and mortgage loans payable increased by 66,501,000
other
unrealized loss on marketable security, net of tax of 8,000
during the six months ended june 30, 2010, as a result of the consolidation of two of kennedy-wilson’s subsidiaries, accounts receivable increased by 171,000, real estate increased by 86,220,000, investment in joint venture decreased by 20,614,000, other assets increased by 3,174,000, accrued expenses and other liabilities increased by 323,000 and mortgage loans payable increased by 66,501,000
collections of notes receivable - related party																																										743,000
cash and cash equivalents, end of the period																																										43,729,000
unrealized gain on marketable security, net of tax of 9,000																																										13,000
foreign currency translation, net of tax of 139,000																																										-209,000
available-for-sale security																																										44,000
investment in joint ventures
gain from sale of real estate-related party
deferred income taxes
provision for notes receivable
net cash flow used in operating activities
net cash flow from investing activities
issuance of junior subordinated debentures
net cash flow from financing activities
foreign currency translation, net of tax of 1,472,000
beneficial conversion of convertible subordinated debt
cash flows from operating activities
interest income earned on trust account
changes in assets and liabilities:
decrease (increase) in prepaid expenses																																												14,688	95	11,817
increase in deferred tax asset
increase in accrued expenses																																														44,424	110,377	27,778
increase in deferred interest income																																												4,012	4,761	4,272
decrease in income taxes payable
cash flows from investing activities
cash placed in trust account
cash withdrawn from trust account																																												852,799	250,000	245,000	417,499	591,193
cash flows from financing activities
gross proceeds from initial public offering
proceeds from issuance of sponsors’ warrants
proceeds from sale of shares of common stock to initial stockholders
proceeds from notes payable to stockholders
repayment of notes payable to stockholders
repurchase of common shares from initial stockholders
payment of offering costs
net increase in cash																																														40,183
cash at beginning of period																																												0	0	28,678	0	0
cash at end of period																																												539,271	-59,436	68,861	23,794	-116
supplemental disclosure of non-cash financing activities
deferred underwriting commission
supplemental disclosure of cash flow information
cash paid during the period for income taxes																																															-72,383	210,135
amounts placed in trust																																												0	0	247,000,000		0
interest income received																																												18,688	30,890	4,973,054	619,868	974,136
amounts withdrawn for payment of federal & state taxes
amounts withdrawn for working capital
total held in trust account
increase in income taxes payable
total																																															202,369	382,943
total held in trust account at march 31, 2009																																														248,755,097
increase in prepaid expenses
payment of deferred offering costs
accrual of deferred offering costs
amounts placed in trust account
amounts withdrawn for income tax payments

Kennedy-Wilson Holdings, Inc(NYSE:KW)

Kennedy-Wilson Holdings, Inc
(NYSE:KW)