Kennedy-Wilson Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	4.7	-33	-303.8	93.7	330.4
Depreciation & Amortization	133.4	146.7	152.3	164.9	173.1
Other Amortization	13.3	2.4	12.1	11.7	18.6
Gain (Loss) on Sale of Assets	-96.6	-164.2	-131.1	-103.7	-412.7
Gain (Loss) on Sale of Investments	-101.3	-26.3	229.3	-119.3	-210.4
Stock-Based Compensation	36.1	15.7	30.7	36.6	85
Income (Loss) on Equity Investments	26.1	80.6	92.7	19	-96.4
Change in Accounts Receivable	-4.5	11.6	-23.8	-13.4	-0.5
Change in Other Net Operating Assets	-45.1	1.4	3.6	-17.7	-43.4
Other Operating Activities	41.2	9	-20.1	-38.9	126
Operating Cash Flow	11.4	55.1	48.9	32.9	-30.3
Operating Cash Flow Growth	-79.31%	12.68%	48.63%	-	-
Acquisition of Real Estate Assets	-165.9	-148.2	-217.2	-569.1	-1,271
Sale of Real Estate Assets	565.7	589.5	383.9	325.9	486.4
Net Sale / Acq. of Real Estate Assets	399.8	441.3	166.7	-243.2	-784.6
Cash Acquisition	-29.4	-	-	-	-
Investment in Marketable & Equity Securities	153	-38.4	-75	-204.2	-198
Other Investing Activities	-12.1	1.6	-2.1	102.2	-30.1
Investing Cash Flow	525.8	414.2	-11.7	-361.6	-1,038
Long-Term Debt Issued	722.5	530.7	458.9	929.7	3,264
Total Debt Issued	722.5	530.7	458.9	929.7	3,264
Long-Term Debt Repaid	-1,139	-917.4	-631.4	-780.4	-2,361
Total Debt Repaid	-1,139	-917.4	-631.4	-780.4	-2,361
Net Debt Issued (Repaid)	-416	-386.7	-172.5	149.3	902.4
Issuance of Common Stock	-	-	29.8	-	-
Repurchase of Common Stock	-9.2	-15	-20.9	-31.2	-83.2
Preferred Stock Issued	-	-	197.4	297.3	-
Common Dividends Paid	-68	-100.2	-136	-134.6	-123.5
Preferred Dividends Paid	-43.5	-43.5	-35.5	-25.9	-17.2
Total Dividends Paid	-111.5	-143.7	-171.5	-160.5	-140.7
Other Financing Activities	-23.3	-20.1	-27.1	9.3	-46.5
Foreign Exchange Rate Adjustments	-10.2	-	2	-21	-4
Net Cash Flow	-33	-96.2	-125.6	-85.5	-440.3
Cash Interest Paid	220	256.1	252	214.4	183.7
Cash Income Tax Paid	14.9	9.2	21.8	19.9	16.5
Levered Free Cash Flow	112.34	11.95	-99.85	118.59	209.58
Unlevered Free Cash Flow	248.79	172.74	50.05	244.89	311.23
Change in Working Capital	-49.6	13	-20.2	-31.1	-43.9

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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