Earnings Per Share

6 Months Ended

Jun. 30, 2023

Basic earnings (loss) per share is computed by dividing net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share is computed after adjusting the numerator and denominator of the basic earnings per share computation for the effects of all potentially dilutive common shares. The dilutive effect of non-vested stock issued under share‑based compensation plans is computed using the treasury stock method. The dilutive effect of the cumulative preferred stock is computed using the if‑converted method.

The following is a summary of the elements used in calculating basic and diluted income (loss) per share for the three and six months ended June 30, 2023 and 2022:


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions, except share and per share amounts)	2023		2022		2023		2022
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$	39.0	$	(9.0)	$	(1.8)	$	25.8

Weighted average shares outstanding for basic	139,389,170		136,840,417		138,674,109		136,828,876
Basic earnings (loss) per basic share	$	0.28	$	(0.07)	$	(0.01)	$	0.19
Weighted average shares outstanding for diluted(1)	139,545,944		136,840,417		138,674,109		137,115,950
Diluted earnings (loss) per diluted share	$	0.28	$	(0.07)	$	(0.01)	$	0.19

(1)For the three months ended June 30, 2023 and 2022, a total of 41,616,847 and 28,615,806 potentially dilutive securities, respectively, have not been included in the diluted weighted average shares as they are anti-dilutive. For the six months ended June 30, 2023 and 2022, a total of 41,894,133 and 28,444,127 potentially dilutive securities, respectively, have not been included in the diluted weighted average shares as they are anti-dilutive.