KW · As filed with the SEC
Kennedy-Wilson Holdings cash flow statement, by fiscal year
The statement as Kennedy-Wilson Holdings presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Cash Flows · USD
| USD | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Net income (loss) | 23,800,000 | (33,700,000) | (281,400,000) | 101,900,000 | 336,400,000 | 107,800,000 | 321,100,000 | 212,100,000 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||
| Net gain from sale of real estate | — | — | — | — | — | — | — | (376,100,000) |
| Gain on sale of real estate, net | — | — | — | (103,700,000) | (412,700,000) | (338,000,000) | (434,300,000) | — |
| Gain on sale of a business | — | — | — | — | — | 0 | 0 | (40,400,000) |
| Acquisition-related gains | — | — | — | — | — | — | — | 0 |
| Depreciation and amortization | — | — | — | — | — | — | — | 206,100,000 |
| Gain on sale of real estate, net | (94,700,000) | (160,100,000) | (127,600,000) | — | — | — | — | — |
| Depreciation and amortization | 133,000,000 | 148,300,000 | 157,800,000 | 172,900,000 | 166,300,000 | 179,600,000 | 187,600,000 | — |
| Above/below market and straight-line rent amortization | 400,000 | (1,600,000) | (5,500,000) | (8,000,000) | 6,800,000 | (10,200,000) | (4,600,000) | (14,600,000) |
| Uncollectible lease income | 2,300,000 | 3,600,000 | 5,400,000 | 8,000,000 | 12,900,000 | — | — | — |
| Provision for deferred income taxes | 7,900,000 | (10,400,000) | (65,900,000) | 18,300,000 | 112,200,000 | 27,200,000 | 26,700,000 | 39,300,000 |
| Amortization of loan fees | 10,100,000 | 9,900,000 | 9,200,000 | 9,100,000 | 16,200,000 | 800,000 | 9,300,000 | 13,500,000 |
| Amortization of discount and accretion of premium and transactional foreign exchange | 3,200,000 | (7,500,000) | 2,900,000 | 2,600,000 | 2,400,000 | 8,500,000 | 1,600,000 | 1,700,000 |
| Unrealized net loss derivatives | 9,600,000 | 14,800,000 | 16,400,000 | (45,900,000) | (4,600,000) | (5,400,000) | (5,900,000) | (11,700,000) |
| Loss (gain) on extinguishment of debt | — | — | 1,600,000 | (27,500,000) | — | — | — | — |
| Income from unconsolidated investments | — | — | — | (178,400,000) | (389,000,000) | (81,000,000) | (179,700,000) | (78,700,000) |
| Loss on early extinguishment of debt | 2,300,000 | 1,700,000 | — | — | — | — | — | — |
| (Income) loss from unconsolidated investments | (142,800,000) | (6,500,000) | 252,800,000 | — | — | — | — | — |
| Provision for loan loss reserves | 4,100,000 | 11,200,000 | 7,000,000 | — | — | — | — | — |
| Accretion of discount on loans | (1,900,000) | (4,100,000) | (3,500,000) | 0 | (500,000) | (900,000) | (100,000) | (600,000) |
| Share-based compensation expense | 25,700,000 | 23,600,000 | 34,500,000 | 29,000,000 | 28,700,000 | 32,300,000 | 30,200,000 | 37,100,000 |
| Deferred compensation | 10,400,000 | (7,900,000) | (3,800,000) | 7,600,000 | 56,300,000 | 6,400,000 | 3,800,000 | — |
| Operating distributions from unconsolidated investments | 67,600,000 | 60,800,000 | 69,200,000 | 78,100,000 | 82,200,000 | 59,700,000 | 74,100,000 | 61,400,000 |
| Operating distributions from loans | — | — | — | 0 | 0 | 700,000 | 0 | 600,000 |
| Change in assets and liabilities: | ||||||||
| Accounts receivable | (4,500,000) | 11,600,000 | (23,800,000) | (13,400,000) | (500,000) | 4,500,000 | 1,000,000 | 1,900,000 |
| Other assets | (3,400,000) | (4,500,000) | (1,300,000) | (9,700,000) | (18,800,000) | 0 | (25,800,000) | (600,000) |
| Accrued expenses and other liabilities | (41,700,000) | 5,900,000 | 4,900,000 | (8,000,000) | (24,600,000) | (4,600,000) | (24,500,000) | 42,100,000 |
| Net cash provided by operating activities | 11,400,000 | 55,100,000 | 48,900,000 | 32,900,000 | (30,300,000) | (12,600,000) | (19,500,000) | 93,100,000 |
| Cash flows from investing activities: | ||||||||
| Issuance of loans | (54,300,000) | (40,100,000) | (150,200,000) | (50,900,000) | (83,400,000) | (88,600,000) | (2,700,000) | (2,200,000) |
| Proceeds from collection of loans | 68,800,000 | 49,800,000 | 48,900,000 | 34,500,000 | 58,100,000 | 34,100,000 | 600,000 | 5,800,000 |
| Payments for business acquired, net of cash acquired | (29,400,000) | — | — | — | — | — | — | — |
| Net proceeds from sale of consolidated real estate | 565,700,000 | 589,500,000 | 383,900,000 | 325,900,000 | 486,400,000 | 827,800,000 | 701,000,000 | 1,386,100,000 |
| Net proceeds from sale of a business | — | — | — | — | — | — | — | 43,400,000 |
| Purchases of consolidated real estate | — | — | — | (408,200,000) | (1,131,800,000) | (70,100,000) | (210,900,000) | (571,800,000) |
| Deposit for unconsolidated investment | (6,400,000) | — | — | — | — | — | — | — |
| Purchases of consolidated real estate | (99,300,000) | (16,600,000) | 0 | (160,900,000) | (139,200,000) | — | — | — |
| Investment in marketable securities | — | — | — | 0 | 0 | (12,100,000) | — | (200,000) |
| Proceeds from sale of marketable securities | — | — | — | 0 | 0 | 10,200,000 | 0 | 7,400,000 |
| Investing distributions from unconsolidated investments | — | — | — | 157,100,000 | 82,800,000 | 177,500,000 | 115,000,000 | 63,700,000 |
| Capital expenditures to real estate | (66,600,000) | (131,600,000) | (217,200,000) | — | — | (194,100,000) | (191,100,000) | — |
| Nonrefundable escrow deposits | — | — | — | — | — | 0 | 0 | (5,000,000) |
| Investing distributions from unconsolidated investments | 367,600,000 | 86,600,000 | 92,400,000 | — | — | — | — | — |
| Contributions to unconsolidated investments | (208,200,000) | (125,000,000) | (167,400,000) | (361,300,000) | (280,800,000) | (111,600,000) | (266,000,000) | (396,100,000) |
| Proceeds from settlement of derivative contracts | — | — | — | 112,600,000 | — | — | — | — |
| Premiums from settlement of derivative contracts | — | — | — | (10,400,000) | (30,100,000) | 15,500,000 | 33,400,000 | 10,700,000 |
| Additions to development project asset | — | — | — | — | 0 | 0 | (1,200,000) | (29,100,000) |
| Proceeds from sale of development project asset | — | — | — | 0 | 0 | 2,200,000 | 4,200,000 | 81,000,000 |
| Proceeds from settlement of derivative contracts | 0 | 1,600,000 | 0 | — | — | — | — | — |
| Premiums paid for settlement of derivative contracts | (12,100,000) | 0 | (2,100,000) | — | — | 0 | 0 | (600,000) |
| Net cash provided by (used in) investing activities | 525,800,000 | 414,200,000 | (11,700,000) | (361,600,000) | (1,038,000,000) | 590,800,000 | 182,300,000 | 593,100,000 |
| Cash flow from financing activities: | ||||||||
| Borrowings under senior notes payable | — | — | 0 | 0 | 1,804,300,000 | 0 | 0 | 246,600,000 |
| Repayment of senior notes payable | — | — | — | — | — | — | 0 | 0 |
| Costs associated with KWE Transaction | — | — | — | — | — | — | — | 0 |
| Costs associated with KWE Transaction | — | — | — | — | — | — | 0 | — |
| Repayment of senior notes payable | — | — | 0 | 0 | (1,150,000,000) | — | — | — |
| Borrowings under line of credit | 491,000,000 | 170,000,000 | 50,000,000 | 528,400,000 | 314,300,000 | 200,000,000 | 125,000,000 | 225,000,000 |
| Repayment of line of credit | (317,200,000) | (215,200,000) | (185,000,000) | (325,000,000) | (438,500,000) | 0 | (200,000,000) | (450,000,000) |
| Borrowings under mortgage debt | 231,500,000 | 360,700,000 | 408,900,000 | 401,300,000 | 1,144,900,000 | 296,400,000 | 488,600,000 | 725,000,000 |
| Repayment of mortgage debt | (469,300,000) | (521,100,000) | (446,400,000) | (389,600,000) | (268,200,000) | (487,100,000) | (391,400,000) | (866,800,000) |
| Repayment of KWE Notes | (352,000,000) | (181,100,000) | 0 | (65,800,000) | (504,400,000) | — | — | — |
| Payment of loan fees | (4,300,000) | (13,900,000) | (700,000) | (5,000,000) | (35,600,000) | (5,600,000) | (4,800,000) | (9,500,000) |
| At-the-market equity offering program costs | — | — | — | (700,000) | — | — | — | — |
| Issuance of common stock, net of issuance costs | 0 | (100,000) | 29,800,000 | — | — | — | — | — |
| Repurchase of common stock | (9,200,000) | (15,000,000) | (20,900,000) | (31,200,000) | (83,200,000) | (57,400,000) | (20,700,000) | (177,900,000) |
| Cash paid to acquire noncontrolling interest in KWE | — | — | — | — | — | — | — | 0 |
| Dividends paid | — | — | — | — | — | — | — | (111,200,000) |
| KWE closing dividend | — | — | — | — | — | — | — | (17,200,000) |
| Preferred stock issuance, net of issuance costs | 0 | (200,000) | 197,400,000 | 297,300,000 | 0 | 0 | 295,200,000 | — |
| Cash paid to acquire noncontrolling interest in KWE | — | — | — | — | — | — | 0 | — |
| Common stock dividends paid | (68,000,000) | (100,200,000) | (136,000,000) | (134,600,000) | (123,500,000) | (126,100,000) | (114,900,000) | — |
| Preferred stock dividends paid | (43,500,000) | (43,500,000) | (35,500,000) | (25,900,000) | (17,200,000) | (13,600,000) | (2,600,000) | — |
| KWE closing dividend | — | — | — | — | — | 0 | 0 | — |
| Repayment of shareholder loans to noncontrolling interests | — | — | — | — | — | — | (11,200,000) | — |
| Borrowings on shareholder loans to noncontrolling interests | — | — | — | 0 | 0 | 1,200,000 | — | — |
| Loan receivable proceeds received from equity partners | 1,500,000 | — | — | — | — | — | — | — |
| Contributions from noncontrolling interests | 300,000 | 600,000 | 1,300,000 | 25,800,000 | 7,800,000 | 4,500,000 | 15,000,000 | 23,200,000 |
| Distributions to noncontrolling interests | (20,800,000) | (6,500,000) | (27,700,000) | (10,800,000) | (18,700,000) | (18,900,000) | (264,000,000) | (116,000,000) |
| Net cash used in financing activities | (560,000,000) | (565,500,000) | (164,800,000) | 264,200,000 | 632,000,000 | (206,600,000) | (85,800,000) | (528,800,000) |
| Effect of currency exchange rate changes on cash and cash equivalents | — | — | — | — | — | — | — | (20,700,000) |
| Net change in cash and cash equivalents | — | — | — | — | — | — | — | 136,700,000 |
| Cash and cash equivalents, beginning of year | — | — | — | — | — | — | 488,000,000 | 351,300,000 |
| Cash and cash equivalents, end of year | — | — | — | — | — | — | — | 488,000,000 |
| Effect of currency exchange rate changes on cash and cash equivalents | (10,200,000) | 0 | 2,000,000 | (21,000,000) | (4,000,000) | 19,600,000 | 8,900,000 | — |
| Net change in cash and cash equivalents | (33,000,000) | (96,200,000) | (125,600,000) | (85,500,000) | (440,300,000) | 391,200,000 | 85,900,000 | — |
| Cash and cash equivalents, beginning of year | 217,500,000 | 313,700,000 | 439,300,000 | 524,800,000 | 965,100,000 | 573,900,000 | 488,000,000 | — |
| Cash and cash equivalents, end of year | 184,500,000 | 217,500,000 | 313,700,000 | 439,300,000 | 524,800,000 | 965,100,000 | 573,900,000 | — |
| Cash paid for: | ||||||||
| Interest | — | — | — | — | — | — | — | 225,300,000 |
| Interest | 220,000,000 | 256,100,000 | 252,000,000 | 214,400,000 | 183,700,000 | 209,700,000 | 211,100,000 | — |
| Income taxes | 14,900,000 | 9,200,000 | 21,800,000 | 19,900,000 | 16,500,000 | 12,600,000 | 20,600,000 | 6,600,000 |
| Cash received from consolidated and unconsolidated asset sales and loan repayments, net | 565,300,000 | 600,900,000 | 376,100,000 | — | — | — | — | — |
| Cash received on interest rate hedges | 10,200,000 | 26,000,000 | 24,000,000 | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.