XML 57 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue        
Management and leasing fees $ 4,101 $ 2,346 $ 7,257 $ 4,795
Management and leasing fees — related party 6,131 2,600 11,716 5,162
Commissions 1,370 1,962 2,036 3,513
Commissions — related party 1,031 647 1,984 1,657
Sale of real estate 0 0 0 417
Rental and other income 1,477 955 2,947 1,693
Total revenue 14,110 8,510 25,940 17,237
Operating expenses        
Commission and marketing expenses 1,340 736 2,305 1,373
Compensation and related expenses 10,294 8,257 19,294 16,089
Cost of real estate sold 0 0 0 397
General and administrative 4,888 3,040 8,557 5,853
Depreciation and amortization 977 463 1,914 897
Rental operating expenses 921 642 1,791 1,053
Total operating expenses 18,420 13,138 33,861 25,662
Equity in joint venture income 5,108 2,551 10,624 7,807
Interest income from loan pool participations and notes receivable 2,876 2,241 3,414 4,787
Operating income 3,674 164 6,117 4,169
Non-operating income (expense)        
Interest income 25 152 55 190
Interest income — related party 1,182 249 2,269 477
Remeasurement gain 0 6,348 0 6,348
Gain on sale of marketable securities 0 0 2,931 0
Realized foreign currency exchange gain (loss) 38 0 (74) 0
Interest expense (7,054) (6,228) (13,224) (7,757)
(Loss) income from continuing operation before benefit from (provision for) income taxes (2,135) 685 (1,926) 3,427
Benefit from (provision for) income taxes 1,138 (172) 2,621 (835)
(Loss) income from continuing operations (997) 513 695 2,592
Discontinued Operations        
Income from discontinued operations, net of income taxes 0 0 2 0
Loss from sale of real estate, net of income taxes 0 0 (212) 0
Net (loss) income (997) 513 485 2,592
Net income attributable to the noncontrolling interests (128) (299) (2,926) (1,337)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. (1,125) 214 (2,441) 1,255
Preferred dividends and accretion of preferred stock issuance costs (2,036) (2,636) (4,072) (4,672)
Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (3,161) $ (2,422) $ (6,513) $ (3,417)
Basic and diluted loss per share attributable to Kennedy-Wilson Holdings, Inc. common shareholders        
Continuing operations (in dollars per share) $ (0.06) $ (0.06) $ (0.12) $ (0.09)
Discontinued operations, net of income taxes (in dollars per share) $ 0.00 $ 0.00 $ 0.00 $ 0.00
Earning per share - basic and diluted (in dollars per share) $ (0.06) [1] $ (0.06) [1] $ (0.13) [1] $ (0.09) [1]
Weighted average number of common shares outstanding (in shares) 51,401,674 39,118,313 51,280,986 39,015,395
Dividends declared per common share (in dollars per share) $ 0.05 $ 0.04 $ 0.10 $ 0.04
[1] EPS amounts may not add due to rounding.