XML 124 R107.htm IDEA: XBRL DOCUMENT v3.8.0.1
GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS - Consolidating Statement of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenue                      
Rental                 $ 504.7 $ 485.9 $ 404.8
Hotel                 127.5 116.2 106.4
Sale of real estate                 111.5 29.3 3.7
Investment management, property services, and research fees                 51.7 59.4 69.3
Loan purchases, loan originations, and other                 15.2 12.6 19.5
Total revenue $ 181.5 $ 277.2 $ 177.8 $ 174.2 $ 180.4 $ 174.3 $ 176.5 $ 172.2 810.6 703.4 603.7
Operating expenses                      
Rental operating                 151.2 135.4 108.0
Hotel operating                 100.3 96.3 89.9
Cost of real estate sold                 (80.2) (22.1) (2.6)
Commission and marketing                 7.2 8.0 7.3
Compensation and related                 177.2 186.5 154.8
General and administrative                 42.2 45.4 43.8
Depreciation and amortization                 212.5 198.2 166.3
Total operating expenses 206.0 231.2 178.3 155.4 194.3 166.1 168.6 162.9 770.8 691.9 572.7
Income from unconsolidated investments 20.2 12.9 13.4 22.6 67.3 31.7 8.4 19.2 69.0 126.6 97.4
Income from consolidated subsidiaries                 0.0 0.0 0.0
Operating income (4.3) 58.9 12.9 41.4 53.4 39.9 16.3 28.5 108.8 138.1 128.4
Non-operating income (expense)                      
Gain on sale of real estate                 226.7 130.7 72.4
Acquisition-related gains                 0.0 16.2 108.1
Acquisition-related expenses                 (4.4) (9.5) (37.3)
Interest expense                 (217.7) (191.6) (156.7)
Other income (loss)                 8.3 6.6 (2.5)
Income before benefit from (provision for) income taxes 88.2 6.1 30.6 (3.0) 57.1 18.6 (6.1) 20.9 121.7 90.5 112.4
Benefit from (provision for) income taxes 17.2 3.7 (8.8) 4.2 (11.9) (5.5) 3.9 (0.5) 16.3 (14.0) (53.4)
Net income 105.4 9.8 21.8 1.2 45.2 13.1 (2.2) 20.4 138.0 76.5 59.0
Net (income) loss attributable to the noncontrolling interests (6.2) (18.7) (12.4) (0.2) (29.6) (15.1) 1.1 (27.3) (37.5) (70.9) 15.7
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc.                 100.5 5.6 74.7
Preferred dividends and accretion of preferred stock issuance costs 0.0 0.0 0.0 0.0 (1.2) (0.5) (0.5) (0.6) 0.0 (2.8) (3.6)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 99.2 $ (8.9) $ 9.4 $ 1.0 $ 14.4 $ (2.5) $ (1.6) $ (7.5) 100.5 2.8 71.1
Reportable Legal Entities [Member] | Parent [Member]                      
Revenue                      
Rental                 0.0 0.0 0.0
Hotel                 0.0 0.0 0.0
Sale of real estate                 0.0 0.0 0.0
Investment management, property services, and research fees                 0.0 0.0 0.0
Loan purchases, loan originations, and other                 0.0 0.0 0.0
Total revenue                 0.0 0.0 0.0
Operating expenses                      
Rental operating                 0.0 0.0 0.0
Hotel operating                 0.0 0.0 0.0
Cost of real estate sold                 0.0 0.0 0.0
Commission and marketing                 0.0 0.0 0.0
Compensation and related                 38.4 65.1 30.8
General and administrative                 0.0 0.0 0.0
Depreciation and amortization                 0.0 0.0 0.0
Total operating expenses                 38.4 65.1 30.8
Income from unconsolidated investments                 0.0 0.0 0.0
Income from consolidated subsidiaries                 176.4 141.6 89.8
Operating income                 138.0 76.5 59.0
Non-operating income (expense)                      
Gain on sale of real estate                 0.0 0.0 0.0
Acquisition-related gains                 0.0 0.0 0.0
Acquisition-related expenses                 0.0 0.0 0.0
Interest expense                 0.0 0.0 0.0
Other income (loss)                 0.0 0.0 0.0
Income before benefit from (provision for) income taxes                 138.0 76.5 59.0
Benefit from (provision for) income taxes                 0.0 0.0 0.0
Net income                 138.0 76.5 59.0
Net (income) loss attributable to the noncontrolling interests                 0.0 0.0 0.0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc.                 138.0 76.5 59.0
Preferred dividends and accretion of preferred stock issuance costs                 0.0 (2.8) (3.6)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders                 138.0 73.7 55.4
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]                      
Revenue                      
Rental                 0.0 0.0 0.0
Hotel                 0.0 0.0 0.0
Sale of real estate                 0.0 0.0 0.0
Investment management, property services, and research fees                 0.0 0.0 0.0
Loan purchases, loan originations, and other                 0.0 0.1 0.1
Total revenue                 0.0 0.1 0.1
Operating expenses                      
Rental operating                 0.0 0.0 0.0
Hotel operating                 0.0 0.0 0.0
Cost of real estate sold                 0.0 0.0 0.0
Commission and marketing                 0.0 0.0 1.6
Compensation and related                 78.3 66.4 50.1
General and administrative                 14.0 15.9 15.0
Depreciation and amortization                 1.4 1.3 0.8
Total operating expenses                 93.7 83.6 67.5
Income from unconsolidated investments                 3.7 5.6 0.4
Income from consolidated subsidiaries                 307.5 285.1 220.1
Operating income                 217.5 207.2 153.1
Non-operating income (expense)                      
Gain on sale of real estate                 0.0 0.0 0.0
Acquisition-related gains                 0.0 0.0 0.0
Acquisition-related expenses                 0.0 0.0 (0.8)
Interest expense                 (72.1) (54.2) (47.9)
Other income (loss)                 9.9 7.7 1.0
Income before benefit from (provision for) income taxes                 155.3 160.7 105.4
Benefit from (provision for) income taxes                 21.1 (19.1) (15.6)
Net income                 176.4 141.6 89.8
Net (income) loss attributable to the noncontrolling interests                 0.0 0.0 0.0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc.                 176.4 141.6 89.8
Preferred dividends and accretion of preferred stock issuance costs                 0.0 0.0 0.0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders                 176.4 141.6 89.8
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]                      
Revenue                      
Rental                 143.9 114.0 65.4
Hotel                 0.0 0.0 0.0
Sale of real estate                 2.3 12.2 0.0
Investment management, property services, and research fees                 43.4 53.7 66.1
Loan purchases, loan originations, and other                 0.5 1.1 1.2
Total revenue                 190.1 181.0 132.7
Operating expenses                      
Rental operating                 54.7 48.7 25.3
Hotel operating                 0.0 0.0 0.0
Cost of real estate sold                 (1.8) (9.6)  
Commission and marketing                 7.0 7.3 4.6
Compensation and related                 52.8 47.5 65.4
General and administrative                 17.6 16.3 16.7
Depreciation and amortization                 50.1 39.5 20.8
Total operating expenses                 184.0 168.9 132.8
Income from unconsolidated investments                 33.0 64.0 79.3
Income from consolidated subsidiaries                 256.2 204.9 95.9
Operating income                 295.3 281.0 175.1
Non-operating income (expense)                      
Gain on sale of real estate                 46.6 19.6 0.1
Acquisition-related gains                 0.0 7.6 70.0
Acquisition-related expenses                 (1.3) (2.3) (0.7)
Interest expense                 (38.0) (25.4) (15.8)
Other income (loss)                 1.6 (2.7) (1.7)
Income before benefit from (provision for) income taxes                 304.2 277.8 227.0
Benefit from (provision for) income taxes                 3.3 7.3 (6.9)
Net income                 307.5 285.1 220.1
Net (income) loss attributable to the noncontrolling interests                 0.0 0.0 0.0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc.                 307.5 285.1 220.1
Preferred dividends and accretion of preferred stock issuance costs                 0.0 0.0 0.0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders                 307.5 285.1 220.1
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]                      
Revenue                      
Rental                 360.8 371.9 339.4
Hotel                 127.5 116.2 106.4
Sale of real estate                 109.2 17.1 3.7
Investment management, property services, and research fees                 8.3 5.7 3.2
Loan purchases, loan originations, and other                 14.7 11.4 18.2
Total revenue                 620.5 522.3 470.9
Operating expenses                      
Rental operating                 96.5 86.7 82.7
Hotel operating                 100.3 96.3 89.9
Cost of real estate sold                 (78.4) (12.5) (2.6)
Commission and marketing                 0.2 0.7 1.1
Compensation and related                 7.7 7.5 8.5
General and administrative                 10.6 13.2 12.1
Depreciation and amortization                 161.0 157.4 144.7
Total operating expenses                 454.7 374.3 341.6
Income from unconsolidated investments                 32.3 57.0 17.7
Income from consolidated subsidiaries                 0.0 0.0 0.0
Operating income                 198.1 205.0 147.0
Non-operating income (expense)                      
Gain on sale of real estate                 180.1 111.1 72.3
Acquisition-related gains                 0.0 8.6 38.1
Acquisition-related expenses                 (3.1) (7.2) (35.8)
Interest expense                 (107.6) (112.0) (93.0)
Other income (loss)                 (3.2) 1.6 (1.8)
Income before benefit from (provision for) income taxes                 264.3 207.1 126.8
Benefit from (provision for) income taxes                 (8.1) (2.2) (30.9)
Net income                 256.2 204.9 95.9
Net (income) loss attributable to the noncontrolling interests                 (37.5) (70.9) 15.7
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc.                 218.7 134.0 111.6
Preferred dividends and accretion of preferred stock issuance costs                 0.0 0.0 0.0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders                 218.7 134.0 111.6
Elimination [Member]                      
Revenue                      
Rental                 0.0 0.0 0.0
Hotel                 0.0 0.0 0.0
Sale of real estate                 0.0 0.0 0.0
Investment management, property services, and research fees                 0.0 0.0 0.0
Loan purchases, loan originations, and other                 0.0 0.0 0.0
Total revenue                 0.0 0.0 0.0
Operating expenses                      
Rental operating                 0.0 0.0 0.0
Hotel operating                 0.0 0.0 0.0
Cost of real estate sold                 0.0 0.0 0.0
Commission and marketing                 0.0 0.0 0.0
Compensation and related                 0.0 0.0 0.0
General and administrative                 0.0 0.0 0.0
Depreciation and amortization                 0.0 0.0 0.0
Total operating expenses                 0.0 0.0 0.0
Income from unconsolidated investments                 0.0 0.0 0.0
Income from consolidated subsidiaries                 (740.1) (631.6) (405.8)
Operating income                 (740.1) (631.6) (405.8)
Non-operating income (expense)                      
Gain on sale of real estate                 0.0 0.0 0.0
Acquisition-related gains                 0.0 0.0 0.0
Acquisition-related expenses                 0.0 0.0 0.0
Interest expense                 0.0 0.0 0.0
Other income (loss)                 0.0 0.0 0.0
Income before benefit from (provision for) income taxes                 (740.1) (631.6) (405.8)
Benefit from (provision for) income taxes                 0.0 0.0 0.0
Net income                 (740.1) (631.6) (405.8)
Net (income) loss attributable to the noncontrolling interests                 0.0 0.0 0.0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc.                 (740.1) (631.6) (405.8)
Preferred dividends and accretion of preferred stock issuance costs                 0.0 0.0 0.0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders                 $ (740.1) $ (631.6) $ (405.8)