Kennedy-Wilson (KW) 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 09, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Kennedy-Wilson Holdings, Inc.
Entity Central Index Key	1,408,100
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		114,497,209

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 153.8	$ 174.6
Cash held by consolidated investments	387.8	763.1
Accounts receivable (including $17.8 and $18.0 of related party)	56.2	55.6
Loan purchases and originations (including $39.0 and $0 of related party)	421.3	313.4
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	5,463.5	4,228.1
Unconsolidated investments (including $206.1 and $85.9 at fair value)	499.6	492.2
Other assets	310.5	305.1
Total assets	7,292.7	6,332.1
Liabilities
Accounts payable	19.9	11.7
Accrued expenses and other liabilities	348.9	253.2
Total liabilities	4,367.9	3,288.2
Equity
Cumulative preferred stock, $0.0001 par value per share: 1,000,000 shares authorized $1,000 per share liquidation preference	0	0
Common stock, 112,883,333 and 96,091,446 shares issued and outstanding as of September 30, 2015 and December 31, 2014	0	0
Additional paid-in capital	1,214.4	991.3
Accumulated deficit	(58.9)	(62)
Accumulated other comprehensive loss	(36.4)	(28.2)
Total Kennedy-Wilson Holdings, Inc. shareholders' equity	1,119.1	901.1
Noncontrolling interests	1,805.7	2,142.8
Total equity	2,924.8	3,043.9
Total liabilities and equity	7,292.7	6,332.1
Investment Debt [Member]
Liabilities
Long-term debt	3,296.6	2,195.9
Senior Notes [Member]
Liabilities
Long-term debt	702.5	702.4
Line of Credit [Member]
Liabilities
Long-term debt	$ 0	$ 125

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets
Related party accounts receivable	$ 17.8	$ 18
Related party loan purchases and originations	39	0
Fair value of unconsolidated investments	$ 206.1	$ 85.9
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, shares issued (in shares)	112,883,333	96,091,446
Common stock, shares outstanding (in shares)	112,883,333	96,091,446
Cumulative Preferred Stock Subject to Mandatory Redemption [Member]
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Cumulative preferred stock, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Mortgages [Member]
Liabilities
Mortgage investment debt	$ 2,849.7	$ 2,195.9

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue
Investment management, property services and research fees (includes $8.0, $6.2, $26.7, and $47.0 of related party fees)	$ 15.1	$ 12.9	$ 47	$ 65
Rental	106.6	70.6	295.3	124.4
Hotel	31.3	22.9	78	36.9
Sale of real estate	1.6	1.6	3.7	19
Loan purchases, loan originations and other	4.6	5.7	13.4	11.7
Total revenue	159.2	113.7	437.4	257
Operating expenses
Commission and marketing	1.2	2	4.4	3.8
Rental operating	29.4	20.9	78.5	37.8
Hotel operating	22.7	16.9	66.1	32.1
Cost of real estate sold	1.1	1.1	2.6	14.6
Compensation and related	35.2	26.8	105.4	79.6
General and administrative	10	11.8	31.3	28.3
Depreciation and amortization	44.9	34.7	119.5	67.3
Total operating expenses	144.5	114.2	407.8	263.5
Income from unconsolidated investments	15.9	12.1	44.1	45.9
Operating income	30.6	11.6	73.7	39.4
Non-operating income (expense)
Gain on sale of real estate	4.6	0	44.7	0
Acquisition-related gains	29.9	28.9	87.2	199.2
Acquisition-related expenses	(8.2)	(5.3)	(28.3)	(16.9)
Interest expense-investment	(31.3)	(13.8)	(77.9)	(30.2)
Interest expense-corporate	(11.7)	(15.9)	(35.5)	(41.1)
Other (expense) income	(4.3)	(1.9)	(0.7)	1
Income before provision for income taxes	9.6	3.6	63.2	151.4
Provision for income taxes	(4.5)	(6.6)	(32.5)	(40.8)
Net income (loss)	5.1	(3)	30.7	110.6
Net loss (income) attributable to the noncontrolling interests	10.3	2.8	15	(59.9)
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(2)	(3.1)	(6.1)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 14.9	$ (2.2)	$ 42.6	$ 44.6
Basic earnings (loss) per share
Income (loss) per basic (in dollars per share)	$ 0.13	$ (0.03)	$ 0.40	$ 0.47
Weighted average shares outstanding for basic (in shares)	107,433,124	89,267,838	101,361,606	88,854,215
Diluted earnings (loss) per share
Income (loss) per diluted (in dollars per share)	$ 0.13	$ (0.03)	$ 0.40	$ 0.47
Weighted average shares outstanding for diluted (in shares)	107,433,124	89,267,838	105,517,172	90,169,008
Dividends declared per common share (in dollars per share)	$ 0.12	$ 0.09	$ 0.36	$ 0.27

Consolidated Statements of Ope5

Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Investment management, property services, and research fees— related party	$ 8	$ 6.2	$ 26.7	$ 47

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 5.1	$ (3)	$ 30.7	$ 110.6
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation loss		(51.8)	(89)	(88)	(67.1)
Unrealized (loss) gain on marketable securities		0	(1.1)	0.1	(1.1)
Amounts reclassified out of AOCI during the period		(0.3)	0	9.7	(7.1)
Unrealized currency derivative contracts (loss) gain		(8.3)	20.1	6.7	16.5
Total other comprehensive (loss) gain for the period		(60.4)	(70)	(71.5)	(58.8)
Comprehensive (loss) income		(55.3)	(73)	(40.8)	51.8
Comprehensive loss (income) attributable to noncontrolling interests	[1]	67.9	58	78.3	(23.5)
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		$ 12.6	$ (15)	$ 37.5	$ 28.3
[1]	Comprehensive income attributable to noncontrolling interest includes allocation of unrealized currency translation losses and currency derivative contracts.

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Millions	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income [Member]	Noncontrolling Interest [Member]
Beginning balance outstanding (in shares) at Dec. 31, 2014		132,550	96,091,446
Balance beginning of period at Dec. 31, 2014	$ 3,043.9	$ 0	$ 0	$ 991.3	$ (62)	$ (28.2)	$ 2,142.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of 8,625,000 shares, net (in shares)			8,625,000
Issuance of 8,625,000 shares, net	215			215
Shares forfeited (in shares)			(43,524)
RSG Grants (in shares)			61,400
Shares retired due to RSG Vesting (in shares)			(405,937)
Shares retired due to RSG Vesting	(11.5)			(11.5)
Conversion of preferred stock to common stock (in shares)		(100,000)	8,554,948
Stock based compensation	19.6			19.6
Other comprehensive income (loss):
Unrealized foreign currency translation loss, net of tax	(69.2)					(13.6)	(55.6)
Unrealized foreign currency derivative contract gain, net of tax	(2.3)					5.4	(7.7)
Preferred stock dividends	(3.1)				(3.1)
Common stock dividends	(39.5)				(39.5)
Net income	30.7				45.7		(15)
Acquisition of Kennedy Wilson Europe (KWE) shares from noncontrolling interest holders	(59.5)						(59.5)
Contributions from noncontrolling interests, excluding KWE	6.5						6.5
Distributions to noncontrolling interests	(205.8)						(205.8)
Ending balance outstanding (in shares) at Sep. 30, 2015		32,550	112,883,333
Balance end of period at Sep. 30, 2015	$ 2,924.8	$ 0	$ 0	$ 1,214.4	$ (58.9)	$ (36.4)	$ 1,805.7

Consolidated Statement of Equi8

Consolidated Statement of Equity (Unaudited) (Parentheticals)	9 Months Ended
	Sep. 30, 2015shares
Common Stock [Member]
Issuance of 8,625,000 shares, net (in shares)	8,625,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income		$ 30.7	$ 110.6
Adjustments to reconcile net income to net cash provided by operating activities:
Net gain from sale of real estate		(43)	(4.4)
Acquisition-related gain		(87.2)	(199.2)
Depreciation and amortization		119.5	67.3
Provision for deferred income taxes		2.1	40.8
Amortization of deferred loan costs		5.2	3.8
Amortization of discount and accretion of premium on issuance of the senior notes and investment debt		(8.3)	(2.7)
Unrealized net gains on derivatives		3.8	0
Income from unconsolidated investments and loan purchases and originations		(50.3)	(46.6)
Operating distributions from unconsolidated investments		50.8	78.9
Operating distributions from loan purchases and originations		7	0
Share-based compensation		19.6	8.7
Change in assets and liabilities:
Accounts receivable		0.3	(18)
Other assets		(0.2)	0.4
Accounts payable, accrued expenses and other liabilities		64.2	46.1
Net cash provided by operating activities		114.2	85.7
Cash flows from investing activities:
Additions to loans		(233.9)	(476.4)
Collections of loans		15.3	95.9
Net proceeds from sale of real estate		523.4	16.3
Purchases of and additions to real estate		(1,534)	(1,538.2)
Proceeds from settlement of foreign derivative contracts		36.2	7.5
Purchases of foreign derivative contracts		(5.2)	(2.2)
Investment in marketable securities		0	(11.5)
Proceeds from sale of marketable securities		6.2	0
Distributions from unconsolidated investments		92	99.3
Contributions to unconsolidated investments		(155.2)	(139.6)
Net cash used in investing activities		(1,255.2)	(1,948.9)
Cash flows from financing activities:
Borrowings under senior notes payable		0	297.2
Repayment of junior subordinated debt		0	(40)
Borrowings under line of credit		75	90
Repayment of line of credit		(200)	(90)
Borrowings under investment debt		1,632.2	825.1
Repayment of investment debt		(620.2)	(32.2)
Debt issue costs		(15)	(28.5)
Issuance of common stock		215	190.6
Repurchase and retirement of common stock		(11.4)	(2.9)
Proceeds from the issuance of KWE shares, net		0	1,351.1
Dividends paid		(37.7)	(28.4)
Change in restricted cash		0	(42.6)
Acquisition of KWE shares from noncontrolling interest holders		(59.5)	(16.8)
Contributions from noncontrolling interests, excluding KWE		6.5	12.9
Distributions to noncontrolling interests		(205.8)	(24.3)
Net cash provided by financing activities		779.1	2,461.2
Effect of currency exchange rate changes on cash and cash equivalents		(34.2)	10.8
Net change in cash and cash equivalents	[1]	(396.1)	608.8
Cash and cash equivalents, beginning of period		937.7	178.2
Cash and cash equivalents, end of period		541.6	787
Supplemental cash flow information:
Interest		83	74.2
Income taxes		3	0.1
Supplemental disclosure of non-cash investing and financing activities:
Accrued capital expenditures		6.9	0
Dividends declared but not paid on common stock		$ 13.5	$ 8.5
[1]	See discussion of non-cash effects in notes to statement of cash flows.

Consolidated Statements of Ca10

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) ft² in Thousands, $ in Millions	May. 19, 2015$ / sharesshares	Jun. 30, 2014USD ($)	Sep. 30, 2015USD ($)note$ / shares	Sep. 30, 2014USD ($)aft²$ / sharesshares	Feb. 28, 2014Property
Common stock, par or stated value (in dollars per share) | $ / shares			$ 0.0001	$ 0.0001
Acquisition-related gains			$ 87.2	$ 199.2
Acquisition-related gain		$ 150.8
Acquisition-related gain allocated to noncontrolling equity partners		$ 63.1
Retail Acquired in California [Member]
Square footage of acquired office portfolio | ft²				133
Vacant Lot Acquired in California [Member]
Acres in lot acquired by foreclosure | a				2.4
KWE [Member]
Contribution of interest percentage in portfolio					50.00%
Number of properties held in portfolio contributed to new entity | Property					14
KWE [Member] | Ireland [Member]
Number of notes foreclosed | note			3
Common Stock [Member]
Conversion of preferred stock to common stock (in shares) | shares	8,554,948
Common stock, par or stated value (in dollars per share) | $ / shares	$ 0.0001
Conversion price per share of common stock (in dollars per share) | $ / shares	$ 11.69
Series A Preferred Stock [Member] | Cumulative Preferred Stock Subject to Mandatory Redemption [Member]
Preferred stock outstanding (in shares) | shares	100,000			100,000
Multifamily and Commercial [Member] | Western United States [Member]
Acquisition-related gains			$ 87.2

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION KW Group's unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") may have been condensed or omitted pursuant to SEC rules and regulations, although we believe that the disclosures are adequate to make their presentation not misleading. In our opinion, all adjustments, consisting of only normal and recurring items, necessary for a fair presentation of the results of operations for the three and nine months ended September 30, 2015 and 2014 have been included. The results of operations for these periods are not necessarily indicative of results that might be expected for the full year ending December 31, 2015 . For further information, your attention is directed to the footnote disclosures found in our Annual Report on Form 10-K for the year ended December 31, 2014 . Throughout this unaudited interim consolidated financial statements we refer to “KW Group,” which we define as the Company and its subsidiaries that are consolidated in its financial statements under U.S. GAAP (including KWE as defined below). All significant intercompany balances and transactions have been eliminated in consolidation. We also refer to "KW," “KWH,” “Kennedy Wilson,” the “Company,” “we,” “our,” or “us” which we define as Kennedy-Wilson Holdings, Inc. and its wholly-owned subsidiaries. Kennedy Wilson Europe Real Estate Plc (“KWE,” LSE: KWE), a Jersey investment company formed to invest in real estate and real estate-related assets in Europe, closed its initial public offering ("IPO") on the London Stock Exchange during the quarter ended March 31, 2014. KWE is externally managed by a wholly-owned subsidiary of Kennedy Wilson incorporated in Jersey pursuant to an investment management agreement. Due to the terms provided in the investment management agreement and Kennedy Wilson's equity ownership interest in KWE, pursuant to the guidance set forth in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Subtopic 810 - Consolidation (“Subtopic 810”), the Company is required to consolidate KWE’s results in its consolidated financial statements. As of September 30, 2015 , the Company has invested $330.7 million of cash and contributed $58.3 million of assets into KWE which represents a 17.7% ownership interest of KWE’s total issued share capital as of September 30, 2015 . In addition to its investment in KWE, prior to KWE's formation, the Company (along with its equity partners) directly invested in 18 properties, four loan pools and a servicing platform in Europe which had total assets of $882.7 million included in the Company's consolidated balance sheet as of September 30, 2015 . Kennedy Wilson's total equity in these investments was $248.0 million and the Company's weighted average ownership in these investments was 58% as of September 30, 2015 . In addition, throughout these unaudited interim consolidated financial statements, we refer to our “equity partners,” which we define as the non-wholly owned subsidiaries that we consolidate in our financial statements under U.S. GAAP, including KWE, and third-party equity providers. Kennedy Wilson evaluates its relationships with other entities to identify whether they are variable interest entities ("VIEs") as defined in the ASC Subtopic 810-10 and to assess whether it is the primary beneficiary of such entities. If the determination is made that Kennedy Wilson is the primary beneficiary, then that entity is included in the consolidated financial statements in accordance with the ASC Subtopic 810-10. The preparation of the accompanying consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosure about contingent assets and liabilities, and reported amounts of revenues and expenses. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. See comment in Note 4 about the preliminary nature of the estimates used in relation to acquisitions.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Adoption of New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ADOPTION OF NEW ACCOUNTING PRONOUNCEMENTS	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ADOPTION OF NEW ACCOUNTING PRONOUNCEMENTS REVENUE RECOGNITION—Performance fees or carried interests are allocated to the general partner, special limited partner or asset manager of our real estate funds and loan pool participations based on the cumulative performance of the funds and loan pools and are subject to preferred return thresholds of the limited partners and participants. At the end of each reporting period, we calculate the performance fee that would be due to the general partner, special limited partner or asset manager's interests for a fund or loan pool, pursuant to the fund agreement or participation agreements, as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as performance fees to reflect either (a) positive performance resulting in an increase in the performance fee allocated to the general partner or asset manager or (b) negative performance that would cause the amount due to us to be less than the amount previously recognized as revenue, resulting in a negative adjustment to performance fees allocated to the general partner or asset manager. A majority of the performance fees are recognized in investment management revenue, and substantially all of the carried interest is recognized in income from unconsolidated investments in our consolidated statements of operations. Total performance fees recognized from inception through September 30, 2015 that may be reversed in future periods if there is negative fund or loan pool performance totaled $11.9 million . Performance fees accrued as of September 30, 2015 and December 31, 2014 were $11.9 million and $15.8 million , respectively, and are included in accounts receivable in the accompanying consolidated balance sheet. REAL ESTATE ACQUISITIONS—The purchase price of acquired properties is recorded to land, buildings and building improvements and intangible lease value (value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any) based on their respective estimated fair values in accordance with ASC Subtopic 805-10, Business Combinations . Acquisition-related costs are expensed as incurred. The ownership of the other interest holders in consolidated subsidiaries is reflected as noncontrolling interests. The valuations of real estate are based on management estimates of the real estate assets using income and market approaches. The indebtedness securing the real estate is valued, in part, based on third party valuations and management estimates also using an income approach. NONCONTROLLING INTERESTS—Noncontrolling interests are reported within equity as a separate component in accordance with ASC Subtopic 810-10, Noncontrolling Interests in Consolidated Financial Statements . Revenues, expenses, gains, losses, net income (loss), and other comprehensive income (loss) are reported in the consolidated statements of operations at the consolidated amounts and net income (loss) and comprehensive income (loss) attributable to noncontrolling interests are separately stated. The largest component of noncontrolling interest is the Company's investment in KWE which had a balance of $1.6 billion as of September 30, 2015 . FOREIGN CURRENCIES—The financial statements of KW Group's subsidiaries located outside the United States are measured using the local currency as this is their functional currency. The assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date, and income and expenses are translated at the average monthly rate. The foreign currencies include the euro, the British pound sterling, and the Japanese yen. Cumulative translation adjustments, to the extent not included in cumulative net income, are included in the consolidated statement of equity as a component of accumulated other comprehensive income. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES—All derivative instruments are recognized as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships, changes in fair value of cash flow hedges or net investment hedges are recognized in accumulated other comprehensive income, to the extent the derivative is effective at offsetting the changes in the item being hedged until the hedged item affects earnings. Changes in fair value for fair value hedges are recognized in earnings. Fluctuations in foreign exchanges rates may have a significant impact on the results of our operations. In order to manage the effect of these fluctuations, we generally hedge our book equity exposure to changes in foreign currency rates through currency forward contracts and options. We typically hedge 50% - 100% of book equity exposure against these foreign currencies. INCOME TAXES—Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In accordance with ASC Subtopic 740-10, Accounting for Uncertainty in Income Taxes , the effect of income tax positions is recognized only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. RECENT ACCOUNTING PRONOUNCEMENTS—On April 10, 2014, the FASB issued ASU 2014-08, which amends the definition of discontinued operations and requires additional disclosures for disposal transactions that do not meet the revised discontinued operations criteria. ASU 2014-08 is required to be adopted for fiscal years beginning after December 15, 2014, with early adoption permitted. Our early adoption of this pronouncement on January 1, 2014 did not have a material impact on KW Group's consolidated financial statements in the year of adoption. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, a five step model to recognize revenue from customer contracts in an effort to increase consistency and comparability throughout global capital markets and across industries. The model will identify the contract, identify any separate performance obligations in the contract, determine the transaction price, allocate the transaction price and recognize revenue when the performance obligation is satisfied. The new standard will replace most existing revenue recognition in GAAP when it becomes effective for the Company on January 1, 2018. We have not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , which makes certain changes to both the variable interest model and the voting model, including changes to (1) the identification of variable interests (fees paid to a decision maker or service provider), (2) the variable interest entity characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. ASU 2015-02 is effective for KW Group beginning January 1, 2016. Early adoption is permitted. KW Group is still evaluating the impact the adoption of this standard will have on the consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , to reduce the complexity of financial statement presentation pursuant to which debt issuance costs will be presented as a direct deduction from the carrying amount of debt liabilities as opposed to a deferred charge recognized as an asset. ASU 2015-03 is required to be adopted for fiscal years beginning after December 15, 2015 and the Company does not expect its adoption to have a material impact on KW Group's consolidated financial statements. The FASB did not issue any other ASCs during the first nine months of 2015 that we expect to be applicable and have a material impact on our financial position or results of operations. RECLASSIFICATIONS—Certain balances included in prior year's financial statements have been reclassified to conform to the current year's presentation.

Loan Purchases and Originations

Loan Purchases and Originations	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
LOAN PURCHASES AND ORIGINATIONS	LOAN PURCHASES AND ORIGINATIONS KW Group's investment in loan purchases and originations was $421.3 million and $313.4 million at September 30, 2015 and December 31, 2014 , respectively. During the third quarter, KWE converted loans into a 100% direct ownership in a retail center located in Cavan, Ireland for $11.7 million . Additionally, KWH fully resolved a $5.7 million loan. During the second quarter of 2015, KWH originated a loan to an existing joint venture in an amount equal to approximately $38.7 million . With the loan, the joint venture purchased a note secured by a resort in Kona, Hawaii, for approximately $38.7 million . Additionally, during the second quarter of 2015, KWE acquired a nonperforming loan secured by a residential property in London, England, for $108.4 million . During the fourth quarter of 2014, KWE acquired the loans secured by an office building in Dublin, Ireland for $53.0 million . During the first quarter of 2015, KWE converted the loans into a 100% direct ownership interest in the office building. Additionally, during the first quarter of 2015, KWE acquired eight loans secured by eight hotels located throughout the United Kingdom for $95.2 million . KW Group recognized interest income on loans of $ 4.6 million and $ 13.4 million during the three and nine months ended September 30, 2015 , respectively, and $5.7 million and $11.7 million during three and nine months ended September 30, 2014 , respectively.

Real Estate and In-Place Lease

Real Estate and In-Place Lease Value	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
REAL ESTATE AND IN-PLACE LEASE VALUE	REAL ESTATE AND IN-PLACE LEASE VALUE The following table summarizes KW Group's investment in consolidated real estate properties at September 30, 2015 and December 31, 2014 , respectively: September 30, December 31, (Dollars in millions) 2015 2014 Land $ 1,394.1 $ 1,046.9 Buildings 3,706.0 2,945.3 Building improvements 173.2 75.1 In-place lease value 408.9 282.6 5,682.2 4,349.9 Less accumulated depreciation and amortization (218.7 ) (121.8 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,463.5 $ 4,228.1 Real property, including land, buildings, and building improvements, are included in real estate and are generally stated at cost. Buildings and building improvements are depreciated on a straight-line method over their estimated lives not to exceed 40 years . Acquired in-place lease values are recorded at their estimated fair value and depreciated over their respective weighted-average lease term which was 7.8 years at September 30, 2015 . Consolidated Acquisitions The purchase of property is recorded to land, buildings, building improvements, and intangible lease value (including the value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any) based on their respective estimated fair values. The purchase price generally approximates the fair value of the properties as acquisitions are generally transacted with third-party willing sellers. During the nine months ended September 30, 2015 , KW Group acquired the following consolidated properties: (Dollars in millions) Preliminary Purchase Price Allocation at Acquisition (1) Location Description Land Building Acquired in place lease values (2) Investment debt NCI (3) KWH Shareholders' Equity Western U.S. 584k square feet of commercial properties and 1,676 multifamily units (6) $ 141.6 $ 358.5 $ 20.1 $ 313.8 $ 6.4 $ 200.0 United Kingdom Portfolio of 176 commercial, retail, and industrial properties (4) 276.1 421.7 76.6 529.3 205.7 39.4 United Kingdom Portfolio of 9 commercial properties (4) 104.4 178.7 45.4 — 270.4 58.1 Ireland Three properties that total 149k square feet (4)(5) 21.6 81.6 12.3 — 93.2 22.3 Spain Two development projects (4) — 43.9 — — 36.8 7.1 Spain 16 supermarkets (4) 23.6 66.0 4.7 — 77.6 16.7 $ 567.3 $ 1,150.4 $ 159.1 $ 843.1 $ 690.1 $ 343.6 (1) Excludes acquisition expenses and net other assets. The purchase price allocations for properties acquired during the nine months ended September 30, 2015 are based on preliminary measurements of fair value that are subject to change. These allocations represent the Company's current best estimates of fair value. (2) Includes above and below market leases in this table. Above and below market leases are part of other assets and accrued expenses and other liabilities. (3) Noncontrolling interest amounts associated with acquisition. (4) These portfolios of properties were directly acquired and are held by KWE. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (5) KWE recognized an acquisition-related gain of $ 11.2 million on these transaction as the property was previously a mortgage note that KWE foreclosed on and converted to real estate. As the fair value of the assets was in excess of the basis in the previously held mortgage notes, KWE recognized an acquisition-related gain upon conversion. (6) At various points during the year-ended September 30, 2015 , properties included within this group were accounted for under equity method. KW Group purchased the equity partners' interests and consolidated the properties resulting in acquisition-related gains of $76.0 million . Gains on real estate During the nine months ended September 30, 2015, KW Group sold its investment in its Japanese multifamily portfolio, which resulted in a gain of $33.5 million before noncontrolling interest and KWE sold eleven commercial properties and the Company sold a retail pad during the year, which resulted in a gain of $11.3 million before noncontrolling interest. These gains are presented net as a component of non-operating income (expense) as the properties were treated as businesses at acquisition. Acquisition-related gains of $87.2 million were also recognized for acquiring additional equity interests in multifamily and commercial properties in the Western United States and the conversion of three mortgage notes held by KWE into commercial and retail real estate properties in Dublin. Pro forma results of operations The results of operations of the assets acquired have been included in our consolidated financial statements since the date of their acquisition. KW Group's unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations that would have occurred had this acquisition been consummated at the beginning of the periods presented. The pro forma data presented below assumes that the acquisitions during the three and nine months ended September 30, 2015 occurred as of January 1, 2014. Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions, except for per share data) 2015 2014 2015 2014 Pro forma revenues $ 479.9 $ 163.5 $ 363.4 $ 149.3 Pro forma net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders (1) 45.1 14.6 52.8 0.5 Pro forma net income (loss) per share: Basic $ 0.13 $ — $ 0.43 $ 0.50 Diluted $ 0.13 $ — $ 0.42 $ 0.49 (1) Excludes the effects of acquisition-related gains.

Unconsolidated Investments

Unconsolidated Investments	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
UNCONSOLIDATED INVESTMENTS	UNCONSOLIDATED INVESTMENTS KW Group has unconsolidated investments through real estate related joint ventures and loan pool participations. The following table details its investments in joint ventures and loan pool participations as of September 30, 2015 and December 31, 2014 : September 30, December 31, (Dollars in millions) 2015 2014 Investments in joint ventures $ 498.3 $ 435.8 Investments in loan pool participations 1.3 56.4 Total $ 499.6 $ 492.2 Investments in Joint Ventures Kennedy Wilson has a number of joint venture interests, generally ranging from 5% to 50% , that were formed to acquire, manage, develop, service and/or sell real estate and invest in loan pools and discounted loan portfolios. Kennedy Wilson has significant influence over these entities, but not control, and accordingly, these investments are accounted for under the equity method. Joint Venture Holdings As of September 30, 2015 and December 31, 2014 , Kennedy Wilson's investment in joint ventures totaled $498.3 million and $435.8 million , respectively. The following table details our investments in joint ventures by investment type and geographic location as of September 30, 2015 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 169.4 $ 60.5 $ 12.5 $ 182.6 $ 12.3 $ 437.3 Japan 6.2 — — — — 6.2 United Kingdom — 25.4 — — — 25.4 Spain — — — — 29.4 29.4 Total $ 175.6 $ 85.9 $ 12.5 $ 182.6 $ 41.7 $ 498.3 The following table details our investments in joint ventures by investment type and geographic location as of December 31, 2014 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 134.5 $ 110.3 $ 50.3 $ 71.0 $ 9.3 $ 375.4 United Kingdom — 31.5 — — — 31.5 Spain — — — — 28.9 28.9 Total $ 134.5 $ 141.8 $ 50.3 $ 71.0 $ 38.2 $ 435.8 Vintage Housing Holdings ("VHH") During the second quarter of 2015, the Company purchased a 61% noncontrolling interest for $78.7 million in VHH, an existing venture that holds controlling interests in 30 syndicated limited partnerships ("LPs") that own multifamily properties via a traditional low-income tax credit structure in the Western United States. The remaining 39% is held by one non-affiliated entity who is appointed as the manager. Neither party controls VHH, and, accordingly, the Company accounts for its investment under the equity method. The LPs generate cash flow through their controlling interests in entities owning multifamily housing that is predominantly structured with low income housing credits to benefit the LPs. The Company has elected the fair value option on its unconsolidated investment in VHH. During the year, the Company recognized a $12.9 million fair value gain through income from unconsolidated investments due to various factors including a long period between the execution of binding agreements between the parties and the closing of the transaction. Since the investment is accounted for under fair value, operating distributions are recorded as equity income. The Company has recognized $5.2 million in equity income related to operating distributions during the year. VHH is KW Group's largest joint venture investment; there were no other investments that represented more than 10% of the joint venture balance as of September 30, 2015 or December 31, 2014 . Contributions to Joint Ventures During the nine months ended September 30, 2015 , Kennedy Wilson contributed $88.2 million to new joint ventures as an initial investment, including the initial $78.7 million in contributions for the VHH investment discussed above. In addition, Kennedy Wilson contributed $67.0 million to existing joint ventures to fund our share of a development project, to pay off external debt and for capital expenditures and working capital needs. Distributions from Joint Ventures and Investments in Loan Pools During the nine months ended September 30, 2015 , Kennedy Wilson received $142.8 million in operating and investing distributions from its joint ventures and loan pools. Investing distributions resulted from the refinancing of property level debt and asset sales. Operating distributions resulted from operating cash flow generated by the joint venture investments. The following table details cash distributions by investment type and geographic location for the nine months ended September 30, 2015 : Multifamily Commercial Loan Pools Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 22.7 $ 5.2 $ 10.0 $ 32.0 $ 2.3 $ 7.5 $ 3.0 $ 40.2 $ 42.5 Japan 0.1 — — — — — 0.1 — United Kingdom — — 1.2 1.8 6.4 41.5 — — 7.6 43.3 Ireland — — — — 1.8 6.2 — — 1.8 6.2 Spain — — — — 1.1 1.1 — Total $ 22.8 $ 5.2 $ 11.2 $ 33.8 $ 8.2 $ 50.0 $ 8.6 $ 3.0 $ 50.8 $ 92.0 Consolidation Considerations We determine the appropriate accounting method with respect to all investments that are not VIEs based on the control-based framework (controlled entities are consolidated) provided by the consolidations guidance in FASB ASC Topic 810. Kennedy Wilson's determination considers specific factors cited under FASB ASC Topic 810-20, Control of Partnerships and Similar Entities, which presumes that control is held by the general partner (and managing member equivalents in limited liability companies). Limited partners' substantive participation rights may overcome this presumption of control. We account for joint ventures where it is deemed that we do not have control through the equity method of accounting while entities we control are consolidated in KW Group's financial statements. Capital Commitments As of September 30, 2015 , Kennedy Wilson has unfulfilled capital commitments totaling $38.9 million to four of its joint ventures. We may be called upon to contribute additional capital to joint ventures in satisfaction of such capital commitment obligations. Guarantees Kennedy Wilson has certain guarantees associated with loans secured by consolidated assets or assets held directly or in various joint ventures. As of September 30, 2015 , the maximum potential amount of future payments (undiscounted) Kennedy Wilson could be required to make under the guarantees was approximately $59.9 million which is approximately 1% of investment level debt of Kennedy Wilson and its equity partners. The guarantees expire through 2025 , and Kennedy Wilson’s performance under the guarantees would be required to the extent there is a shortfall upon liquidation between the principal amount of the loan and the net sale proceeds from the property. Based on our evaluation of guarantees under FASB ASC Subtopic 460-10 Estimated Fair Value of Guarantees, the estimated fair value of guarantees made as of September 30, 2015 and December 31, 2014 was immaterial. Investments in loan pool participation As of September 30, 2015 and December 31, 2014 , KW Group's investment in loan pool participations totaled $1.3 million and $56.4 million , respectively. The following table presents the income from unconsolidated investments for loan pools and foreign currency gain and (loss) recognized by KW Group during the three and nine months ended September 30, 2015 and 2014 for the loan pools that were outstanding: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Income from unconsolidated investments - loan pools $ (1.8 ) $ 2.3 $ 4.3 $ 7.0 Foreign currency translation loss (1) (0.7 ) (2.9 ) (1.0 ) (2.5 ) Total $ (2.5 ) $ (0.6 ) $ 3.3 $ 4.5 (1) Excludes impact of currency derivative contracts. These amounts are recognized through the Statement of Comprehensive Income (Loss).

Fair Value Measurements and the

Fair Value Measurements and the Fair Value Option	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION	FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of September 30, 2015 : (Dollars in millions) Level 1 Level 2 Level 3 Total Marketable securities $ 0.3 $ — $ — $ 0.3 Unconsolidated investments — — 206.1 206.1 Currency forward contracts — 20.0 — 20.0 Currency option contracts — (2.9 ) — (2.9 ) Total $ 0.3 $ 17.1 $ 206.1 $ 223.5 The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2014 : (Dollars in millions) Level 1 Level 2 Level 3 Total Marketable securities $ 6.5 $ — $ — $ 6.5 Unconsolidated investments — — 85.9 85.9 Currency forward contracts — 23.9 — 23.9 Currency option contracts — 6.7 — 6.7 Total $ 6.5 $ 30.6 $ 85.9 $ 123.0 Marketable Securities Marketable securities include Kennedy Wilson's investment in publicly traded equity securities. The carrying value of marketable securities is a level 1 valuation as the fair value is based off of unadjusted quoted market prices in active markets for identical securities. The amount above excludes Kennedy Wilson's 24.0 million shares in KWE as the investment is eliminated due to the consolidation of KWE's results in KW Group's consolidated financial statements. Based on the September 30, 2015 share price, Kennedy Wilson's investment in KWE had a market value of approximately $ 413.5 million (cost basis of $ 401.5 million ) based on a per share price of $17.22 at September 30, 2015 . As of September 30, 2015 , the Company had hedged 84.4% of the foreign currency rate risk of its net investment in KWE by entering into currency forward contracts and options, which had a fair value of $12.4 million . Fair Value and Fair Value Option - Unconsolidated Investments Kennedy Wilson records its investments in certain funds it manages and sponsors ("the Funds") based upon the net assets that would be allocated to its interests in the Funds assuming the Funds were to liquidate their investments at fair value as of the reporting date. Kennedy Wilson’s investment balance in the Funds was $33.3 million and $24.9 million at September 30, 2015 and December 31, 2014 , respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets. As of September 30, 2015 , Kennedy Wilson had unfunded capital commitments to the Funds in the amount of $38.1 million . Kennedy Wilson elected to use the fair value option ("FV Option") for five unconsolidated investments to more accurately reflect the timing of the value created in the underlying investments and report those results in current operations. Kennedy Wilson's investment balance in the FV Option investments was $172.8 million and $61.0 million at September 30, 2015 and December 31, 2014 , respectively, which is included in unconsolidated investments in the accompanying balance sheets. The increase in the fair value option investments related to the Company's investment in VHH during the second quarter, obtaining entitlements on a land development project, and starting a condo disposition program during the quarter ended September 30, 2015. Refer to Note 5 for more detail. In estimating fair value of real estate held by the Funds and the five FV Option investments, we consider significant unobservable inputs such as capitalization and discount rates. The following table summarizes our investments in unconsolidated investments held at fair value by type: (Dollars in millions) September 30, December 31, 2014 Funds $ 33.3 $ 24.9 FV Option 172.8 61.0 Total $ 206.1 $ 85.9 The following table presents changes in Level 3 investments for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Beginning balance $ 186.6 $ 78.5 $ 85.9 $ 81.1 Unrealized gains 5.9 — 24.1 — Unrealized losses — — (0.1 ) — Realized Gains 5.2 — 5.2 — Contributions 16.5 16.9 107.7 19.3 Distributions (8.1 ) (5.0 ) (16.4 ) (10.0 ) Other — — (0.3 ) — Ending balance $ 206.1 $ 90.4 $ 206.1 $ 90.4 Unobservable inputs for real estate The table below describes the range of unobservable inputs for real estate assets: Estimated Rates Used for Capitalization Rates Discount Rates Office 5.25% - 8.25% 7.00% - 11.00% Retail 6.70% - 7.00% 8.00% - 9.00% Hotel 6.50% 7.50% Multifamily 4.40% - 7.00% 4.90% - 10.75% Loan n/a 12.00% - 25.50% Land and condominium units n/a 8.00% - 9.00% In valuing real estate, related assets and indebtedness, we consider significant inputs such as the term of the debt, value of collateral, market loan-to-value ratios, market interest rates and spreads, and credit quality of investment entities. The credit spreads used for these types of investments range from 1.00% to 4.87% . The accuracy of estimating fair value for investments utilizing unobservable inputs cannot be determined with precision and cannot be substantiated by comparison to quoted prices in active markets. As such, estimated fair value may not be realized in a current sale or immediate settlement of the asset or liability. Additionally, there are inherent uncertainties in any fair value measurement technique, and changes in the underlying assumptions used, including cap rates, discount rates, liquidity risks, and estimates of future cash flows, could significantly affect the fair value measurement amounts. Currency derivative contracts KW Group uses foreign currency derivative contracts such as forward contracts and options to manage its foreign currency risk exposure against the effects of a portion of its certain non-U.S. dollar denominated currency net investments. Foreign currency options are valued using a variant of the Black-Scholes model tailored for currency derivatives and the foreign currency forward contracts are valued based on the difference between the contract rate and the forward rate at maturity of the underlying currency applied to the notional value in the underlying currency discounted at a market rate for similar risks. Although we have determined that the majority of the inputs used to value its currency derivative contracts fall within Level 2 of the fair value hierarchy, the counterparty risk adjustments associated with the currency derivative contracts utilize Level 3 inputs. However, as of September 30, 2015 , KW Group assessed the significance of the impact of the counterparty valuation adjustments on the overall valuation of its currency derivative contracts and determined that the counterparty valuation adjustments are not significant to the overall valuation of its currency derivative contracts. As a result, we have determined that the valuation of our derivative instruments in its entirety be classified in Level 2 of the fair value hierarchy. Changes in fair value are recorded in other comprehensive income in the accompanying consolidated statements of comprehensive income (loss) as the portion of the currency derivative contracts used to hedge foreign currency exposure of its certain net investments in foreign operations qualifies as a net investment hedge under FASB ASC Topic 815. The fair value of the currency derivative contracts held as of September 30, 2015 are reported in other assets for hedge assets and included in accrued expenses and other liabilities for hedge liabilities on the balance sheet. See note 11 for a complete discussion on other comprehensive income including currency derivative contracts and foreign currency translations. The table below details the currency derivative contracts KW Group held as of September 30, 2015 : (Dollars in millions) Change in Unrealized Gains (Losses) Currency Hedged Type Underlying Currency Notional Amount Trade Date Settlement/Expiration Date Forward Rate/Strike Price Fair Value Nine Months Ended September 30, 2015 EUR Forward USD €20,000,000 6/25/2014 6/27/2019 1.4471 $ 5.2 $ 2.5 EUR (2) Option USD €130,000,000 3/10/2015 - 3/19/2015 3/7/2019 - 3/19/2020 1.0700 - 1.0960 (2.1 ) (2.1 ) GBP (2) Forward USD £103,000,000 2/25/2014 - 8/10/2015 10/9/2018 - 8/12/2020 1.5578 - 1.6371 10.5 6.7 GBP Option USD £100,200,000 1/7/2015 - 8/17/2015 1/7/2016 - 8/17/2020 1.4235 - 1.5434 1.9 0.7 EUR (1) Forward GBP €347,477,119 6/18/2014 - 6/29/2015 6/15/2016 - 6/30/2022 0.7110 - 0.8621 4.4 (1.8 ) EUR (1) Option GBP €175,000,000 3/13/2015 - 6/3/2015 3/15/2018 - 6/3/2020 0.7070 - 0.7500 (2.7 ) (2.7 ) YEN Forward USD ¥649,000,000 6/23/2015 - 8/21/2015 2/25/2016 - 6/25/2020 111.26 - 121.51 (0.1 ) (0.1 ) Total (3) $ 17.1 $ 3.2 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) For the nine months ended September 30, 2015 , $5.7 million loss recognized through other income on the consolidated statement of operations, due to portion of hedge not designated as a net investment hedge. (3) Hedges are presented gross in the consolidated balance sheet. Hedge assets are included in other assets and hedge liabilities are included in other liabilities. In addition to the hedge assets held above there was $10.6 million of unrealized gains recognized through other comprehensive income and $3.2 million of gains recognized through the consolidated statement of operations on currency derivative contracts that were settled during the period. These gains will remain in accumulated other comprehensive income until the underlying investments they were hedging are substantially liquidated by KW Group. There was also $15.1 million of gains recognized through the consolidated statement of operations associated with currency derivative contracts that were related to the Company's sale of its Japanese multifamily portfolio and resolutions of European loan pool investments. KW Group also enters into zero-cost collar option contracts to hedge a portion of its net investment in certain non-U.S. dollar denominated foreign operations. The strike prices above represent the put strike prices associated with those contracts. KW Group will participate in the currency appreciation up to the strike price of the call options, which it sold to offset the cost of the purchased put options. Fair value of financial instruments The carrying amounts of cash and cash equivalents, accounts receivable including related party receivables, accounts payable, accrued expenses and other liabilities, accrued salaries and benefits, and deferred and accrued income taxes approximate fair value due to their short-term maturities. The carrying value of loans (excluding related party loans as they are presumed not to be an arm’s length transaction) approximates fair value as the terms are similar to loans with similar characteristics available in the market. We account for our debt liabilities at face value plus net unamortized debt premiums and any fair value adjustments as part of business combinations. The fair value as of September 30, 2015 and December 31, 2014 for the senior notes payable, investment debt and junior subordinated debentures were estimated to be approximately $3,979.6 million and $3,044.8 million , respectively, based on a comparison of the yield that would be required in a current transaction, taking into consideration the risk of the underlying collateral and our credit risk to the current yield of a similar security, compared to their carrying value of $ 3,999.1 million and $3,023.3 million at September 30, 2015 and December 31, 2014 , respectively. The inputs used to value our senior notes payable, borrowings under lines of credit, mortgage loans payable and junior subordinated debentures are based on observable inputs for similar assets and quoted prices in markets that are not active and are therefore determined to be level 2 inputs.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following: (Dollars in millions) September 30, December 31, 2014 Above-market leases, net of accumulated amortization of $16.3 and $6.7 at September 30, 2015 and December 31, 2014, respectively $ 100.9 $ 71.6 Loan fees, net of accumulated amortization of $10.7 and $5.0 at September 30, 2015 and December 31, 2014, respectively 44.1 36.0 Deferred tax asset, net 36.1 27.6 Other, net of accumulated amortization of $2.7 and $1.8 at September 30, 2015 and December 31, 2014, respectively 33.5 25.8 Hedge Assets 32.7 30.6 Goodwill 23.9 23.9 Office furniture and equipment net of accumulated depreciation of $9.1 and $5.7 at September 30, 2015 and December 31, 2014, respectively 20.5 22.0 Prepaid expenses 15.0 11.2 Deposits 3.5 49.9 Marketable securities (1) 0.3 6.5 Other Assets $ 310.5 $ 305.1 (1) The amount above excludes Kennedy Wilson's 24.0 million shares in KWE as the investment is eliminated due to the consolidation of KWE's results. Based on the closing price of KWE shares on September 30, 2015 , the fair value of Kennedy Wilson's investment in KWE is $413.5 million .

Investment Debt

Investment Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
INVESTMENT DEBT	INVESTMENT DEBT Investment debt at September 30, 2015 and December 31, 2014 consists of the following: (Dollars in millions) Carrying Amount of Investment Debt as of (1) Investment Debt by Product Type Region September 30, December 31, Mortgage debt Multifamily (1) Western U.S. $ 824.7 $ 565.5 Commercial Western U.S. 256.6 131.0 Hotel Western U.S 39.5 37.2 Multifamily (1) Japan — 242.9 Commercial Japan 2.1 2.1 Commercial (1)(2) Ireland 391.5 412.5 Multifamily (1)(3) Ireland 192.6 133.6 Residential and Other (1)(5) Ireland 4.0 29.0 Hotel Ireland 80.5 72.9 Residential and Other (7) Spain 3.5 — Commercial (1)(4) United Kingdom 1,054.7 569.2 Total mortgage debt 2,849.7 2,195.9 Unsecured (6) United Kingdom 446.9 — Investment debt $ 3,296.6 $ 2,195.9 (1) The investment debt payable balances include unamortized debt premiums. Debt premiums represent the excess of the fair value of debt over the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan premium as of September 30, 2015 and December 31, 2014 was $1.9 million and $15.4 million . (2) Includes $295.1 million and $323.8 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (3) Includes $53.0 million and $40.3 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (4) Includes $969.4 million and $483.0 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (5) Includes $0.0 million and $14.6 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (6) Includes $446.9 million and $0.0 million of unsecured debt held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (7) Includes $3.5 million and $0.0 million of investment debt held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . The investment debt had a weighted average interest rate of 3.16% and 3.03% per annum at September 30, 2015 and December 31, 2014 , respectively. As of September 30, 2015 , 63% of KW Group's investment level debt is fixed rate, 19% is floating rate with interest caps and 18% is floating rate without interest caps, compared to 43% fixed rate, 38% floating rate with interest caps and 19% floating rate without interest caps, as of December 31, 2014 . In addition, during the second quarter of 2015, KWE completed its inaugural bond offering of approximately $454.0 million (based on September 30, 2015 rates) ( £300 million ) in 3.95% fixed-rate senior unsecured bonds due 2022. The bonds were issued at a discount and have a carrying value of $446.9 million at September 30, 2015 . KWE effectively reduced the interest rate to 3.35% as a result of it entering into swap arrangements to convert 50% of the proceeds into Euros. The trust deed that governs the bonds contain various restrictive covenants for KWE, including, among others, limitations on KWE’s and its material subsidiaries’ ability to provide certain negative pledges. The trust deed limits the ability of KWE and its subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the incurrence of the new indebtedness, (1) KWE’s consolidated net indebtedness (as defined in the trust deed) would exceed 60% of KWE’s total assets (as calculated pursuant to the terms of the trust deed); and (2) KWE’s consolidated secured indebtedness (as defined in the trust deed) would exceed 50% of KWE’s total assets (as calculated pursuant to the terms of the trust deed). The trust deed also requires KWE, as of each reporting date, to maintain an interest coverage ratio (as defined in the trust deed) of at least 1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed). As of September 30, 2015 , KWE was in compliance with these covenants. In August 2014, KWE entered into a three -year unsecured floating rate revolving debt facility ("KWE Facility") with Bank of America Merrill Lynch, Deutsche Bank, and J.P. Morgan Chase of approximately $340.5 million ( £225 million ) based on rates as of September 30, 2015 . During the nine months ended September 30, 2015 , KWE drew $55.7 million and repaid $56.0 million on its unsecured credit facility to fund acquisitions. The maximum amount drawn on the unsecured credit facility at any one point during the nine months ended September 30, 2015 was $56.0 million . The difference in amounts is based on different exchange rates at the time of the initial draw-downs and subsequent repayment. As of September 30, 2015 , the unsecured credit facility was undrawn and $340.5 million ( £225 million ) based on rates as of September 30, 2015 was still available. During the nine months ended September 30, 2015 , five acquisitions were partially financed with mortgages, five existing investments were partially financed with mortgages, three existing mortgages were consolidated and eleven existing investments with existing mortgages were refinanced. See note 4 for more detail on the acquisitions and the investment debt associated with them. As part of the sale of KW Group's Japanese multifamily portfolio and the payoff of the portfolio's investment debt, KW Group recognized a prepayment penalty of $7.1 million through interest expense during the quarter ended June 30, 2015. The aggregate maturities of investment debt subsequent to September 30, 2015 are as follows: (Dollars in millions) Aggregate Maturities 2015 $ 8.8 2016 44.5 2017 193.9 2018 247.2 2019 911.7 Thereafter 1,888.6 3,294.7 Debt premium 1.9 $ 3,296.6

Senior Notes

Senior Notes	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
SENIOR NOTES	SENIOR NOTES September 30, 2015 December 31, 2014 (Dollars in millions) Unamortized Unamortized Interest Rate Maturity Date Face Value Net Premium/(Discount) Carrying Value Face Value Net Premium/(Discount) Carrying Value 2042 Notes 7.75% 12/1/2042 $ 55.0 $ — $ 55.0 $ 55.0 $ — $ 55.0 2024 Notes 5.88% 4/1/2024 650.0 (2.5 ) 647.5 650.0 (2.6 ) 647.4 Senior Notes $ 705.0 $ (2.5 ) $ 702.5 $ 705.0 $ (2.6 ) $ 702.4 The indentures governing the 2024 Notes and 2042 Notes contain various restrictive covenants, including, among others, limitations on our ability and the ability of certain of our subsidiaries to incur or guarantee additional indebtedness, to make restricted payments, pay dividends or make any other distributions from restricted subsidiaries, redeem or repurchase capital stock, sell assets or subsidiary stock, engage in transactions with affiliates, create or permit liens on assets, enter into sale/leaseback transactions, and enter into consolidations or mergers. The indentures governing the 2024 and 2042 Notes limit the ability of Kennedy Wilson and its restricted subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the new indebtedness, the maximum balance sheet leverage ratio (as defined in the indenture) is greater than 1.50 to 1.00. This ratio is measured at the time of incurrence of additional indebtedness. As of September 30, 2015 , the maximum balance sheet leverage ratio was 0.63 to 1.00. See Note 15 for the guarantor and non-guarantor financial statements.

Borrowings Under Lines of Credi

Borrowings Under Lines of Credit	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
BORROWINGS UNDER LINES OF CREDIT	BORROWINGS UNDER LINES OF CREDIT KWH Facility Kennedy-Wilson, Inc. has a $300.0 million unsecured revolving credit facility (“KWH Facility”) with U.S. Bank, Bank of America, N.A., Deutsche Bank AG New York Branch, J.P. Morgan Chase Bank, N.A., Bank of Ireland and East-West Bank that bears interest at a rate equal to LIBOR plus 2.75% and has a maturity date of October 1, 2016 The KWH Facility requires Kennedy-Wilson, Inc. to maintain (i) a minimum rent, adjusted fixed charge coverage ratio (as defined in the revolving loan agreement) of not less than 1.50 to 1.00, measured on a four quarter rolling average basis and (ii) maximum balance sheet leverage (as defined in the revolving loan agreement) of not greater than 1.50 to 1.00, measured at the end of each calendar quarter; (iii) an effective tangible net worth (as defined in the revolving loan agreement) equal to or greater than $500.0 million plus 50% of any equity offerings after March 31, 2014, measured at the end of each calendar quarter; and (iv) unrestricted cash, cash equivalents and publicly traded marketable securities in the aggregate amount of at least $40.0 million . As of September 30, 2015 , Kennedy-Wilson, Inc.'s adjusted fixed charge coverage ratio was 2.57 to 1.00, its balance sheet leverage ratio was 0.67 to 1.00, and its effective tangible net worth and its unrestricted cash, cash equivalents and publicly traded marketable securities were $ 1,051.1 million and $ 592.9 million , respectively, and Kennedy-Wilson, Inc. was in compliance with these covenants. The revolving loan agreement also provides that any subsidiary guarantors under our 2042 Notes must provide guarantees of the loans drawn on our unsecured revolving credit facility. See Note 9 for a discussion of our senior notes. During the nine months ended September 30, 2015 , the Company drew $75.0 million and repaid $200.0 million on its unsecured credit facility to fund acquisitions. The maximum amount drawn on the unsecured credit facility at any one point during the nine months ended September 30, 2015 was $150.0 million . As of September 30, 2015 , the unsecured credit facility was undrawn and $300.0 million was still available. As of December 31, 2014 , there was $ 125.0 million outstanding under the unsecured facility, and $175.0 million was still available.

Equity

Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
EQUITY	EQUITY Common Stock During the nine months ended September 30, 2015 , Kennedy Wilson had completed an offering of 8.6 million shares of its common stock, which raised $215.3 million of net proceeds, excluding issuance costs of $0.3 million . Additionally, in May 2015, 100,000 shares of Series A preferred stock were mandatorily converted into 8,554,948 shares of common stock. Dividend Distributions During the following periods, Kennedy Wilson declared and paid the following cash distributions on its common and preferred stock: Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 (Dollars in millions) Declared Paid Declared Paid Preferred Stock Series A (1) $ 1.5 $ 1.5 $ 4.5 $ 4.5 Series B (2) 1.6 1.6 1.6 1.6 Total Preferred Stock 3.1 3.1 6.1 6.1 Common Stock (3) 39.5 34.6 25.0 22.3 Total (4) $ 42.6 $ 37.7 $ 31.1 $ 28.4 (1) 6.00% Series A, 100,000 shares issued and outstanding as of September 30, 2014, mandatorily converted on May 19, 2015 into 8,554,948 shares of the Company’s common stock. (2) 6.45% Series B, 32,550 shares issued and outstanding as of September 30, 2015 and 2014 , mandatorily convertible on November 3, 2018, or earlier at the option of the holders thereof, or, in certain circumstances, at our election on or after May 3, 2017. The conversion price for the Series B mandatory convertible preferred stock was $10.03 and $10.20 per share as of September 30, 2015 and 2014 , respectively, and is subject to further adjustment pursuant to customary anti-dilution provisions. (3) $0.0001 par value per share, 200,000,000 shares authorized as of September 30, 2015 and 2014 , respectively. (4) Common stock dividends were declared at the end of each quarter and paid in the following quarter. The amount declared and not paid is accrued on the consolidated balance sheet. Share-based Compensation During the three months ended September 30, 2015 and 2014 , KW Group recognized $5.5 million and $5.3 million of compensation expense related to the vesting of restricted stock grants. During the nine months ended September 30, 2015 and 2014 , KW Group recognized $19.6 million and $8.7 million , respectively, of compensation expense related to the vesting of restricted stock grants. The increase for the nine months ended September 30, 2015 is due to additional shares of restricted stock grants issued in July of 2014 under Kennedy Wilson's Amended and Restated 2014 Equity Participation Plan. Accumulated Other Comprehensive Income The following table summarizes the changes in each component of accumulated other comprehensive income (loss), net of taxes: Foreign Currency Translation Currency Derivative Contracts Marketable Securities Total Accumulated Other Comprehensive Income (Dollars in millions) Balance at December 31, 2014 $ (42.4 ) $ 14.4 $ (0.2 ) $ (28.2 ) Unrealized (loss) gains, arising during the period (118.4 ) 19.5 0.1 (98.8 ) Amounts reclassified out of AOCI during the period 18.8 (9.0 ) (0.1 ) 9.7 Taxes on unrealized gains (losses), arising during the period 30.4 (12.8 ) — 17.6 Noncontrolling interest 55.6 7.7 — 63.3 Balance at September 30, 2015 $ (56.0 ) $ 19.8 $ (0.2 ) $ (36.4 ) The functional currencies for our interests in foreign operations include the euro, the British pound sterling, and the Japanese yen. The related amounts on KW Group's balance sheets are translated into U.S. dollars at the exchange rates at the respective financial statement date, while amounts on its statements of operations are translated at the average exchange rates during the respective period. The increase in the unrealized losses on foreign currency translation is a result of the strengthening of the U.S. dollar against the euro, the British pound and the Japanese yen during the nine months ended September 30, 2015 . In order to manage currency fluctuations, KW Group entered into currency derivative contracts to manage its exposure to currency fluctuations between its functional currency (U.S. dollar) and the functional currency (Euro, GBP and Yen) of certain of its wholly-owned and consolidated subsidiaries. See note 6 for a more detailed discussion of KW Group's currency derivative contracts. As discussed throughout this report, we are required under U.S. GAAP to consolidate certain non-wholly owned subsidiaries or investments that we control. As such, our financial statements reflect currency translation adjustments and related hedging activities on a gross basis. In many instances, these fluctuations are not reflective of the actual foreign currency exposure of the underlying consolidated subsidiary. For example, we are required to translate the activities of KWE into US dollars even though KWE does not invest in US dollar denominated assets. Therefore, it is important to look at the provided currency translation and currency derivative adjustment information net of noncontrolling interests to get a more accurate understanding of the actual currency exposure for the Company . Noncontrolling Interests Noncontrolling interests consist of the ownership interests of noncontrolling shareholders in consolidated subsidiaries, and are presented separately on KW Group's balance sheet. As of September 30, 2015 and December 31, 2014 KW Group had noncontrolling interest of $1.8 billion and $2.1 billion , respectively. The decrease in noncontrolling interest was due to $63.3 million of foreign currency losses, net of hedges allocated to noncontrolling interest holders, and $205.8 million of distributions made to noncontrolling interest holders, offset by $6.5 million of contributions made to noncontrolling interest holders. Additionally, the Company increased its ownership in KWE through the acquisition of $59.5 million worth of KWE shares from noncontrolling interest holders, thus reducing the noncontrolling interest. Kennedy Wilson currently owns approximately 17.7% of KWE’s total issued share capital as of September 30, 2015 . The noncontrolling interest holders in KWE had an equity balance of $1.6 billion as of September 30, 2015 . Due to the terms provided in the investment management agreement between KWE and a wholly-owned subsidiary of Kennedy Wilson, the results of KWE are consolidated in KW Group's financial statements.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Under FASB ASC Topic 260-10-45, Earnings Per Share , the Company uses the two-class method to calculate earnings per share. Basic earnings per share is calculated based on dividends declared (“distributed earnings”) and the rights of common shares and participating securities in any undistributed earnings, which represents net income remaining after deduction of dividends declared during the period. Participating securities, which include unvested restricted stock, are included in the computation of earnings per share pursuant to the two-class method. The undistributed earnings are allocated to all outstanding common shares and participating securities based on the relative percentage of each security to the total number of outstanding securities. Basic earnings per common share and participating securities represent the summation of the distributed and undistributed earnings per common share and participating security divided by the total weighted average number of common shares outstanding and the total weighted average number of participating securities outstanding during the respective periods. We only present the earnings per share attributable to the common shareholders. Net losses, after deducting the dividends to participating securities, are allocated in full to the common shares since the participating security holders do not have an obligation to share in the losses, based on the contractual rights and obligations of the participating securities. The following is a summary of the elements used in calculating basic and diluted income (loss) per share for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions, except share and per share amounts) 2015 2014 2015 2014 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 14.9 $ (2.2 ) $ 42.6 $ 44.6 Net income (loss) and dividends allocated to participating securities (0.6 ) (0.5 ) (1.9 ) (2.6 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities 14.3 (2.7 ) 40.7 42.0 Dividends declared on common shares (13.0 ) (8.1 ) (37.8 ) (24.1 ) Undistributed earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ 1.3 $ (10.8 ) $ 2.9 $ 17.9 Distributed earnings per share $ 0.12 $ 0.09 $ 0.36 $ 0.27 Undistributed earnings per share 0.01 (0.12 ) 0.04 0.20 Income (loss) per basic 0.13 (0.03 ) 0.40 0.47 Income (loss) per diluted $ 0.13 $ (0.03 ) $ 0.40 $ 0.47 Weighted average shares outstanding for basic 107,433,124 89,267,838 101,361,606 88,854,215 Weighted average shares outstanding for diluted (1) 107,433,124 89,267,838 105,517,172 90,169,008 Dividends declared per common share $ 0.12 $ 0.09 $ 0.36 $ 0.27 (1) For the three and nine months ended September 30, 2015 , a total of 3,538,420 and 3,163,589 , respectively, potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive. For the three months ended September 30, 2014, a total of 12,993,531 potentially dilutive securities have not been included in the diluted weighted average shares as they are anti-dilutive. Potentially anti-dilutive securities include preferred stock and unvested restricted stock grants.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Kennedy Wilson's business is defined by two core segments: KW Investments and KW Services. KW Investments invests in multifamily, commercial, residential and hotel properties as well as loans secured by real estate. KW Services provides a full array of real estate-related services to investors and lenders, with a strong focus on financial institution-based clients and publicly traded companies. Kennedy Wilson’s segment disclosure with respect to the determination of segment profit or loss and segment assets is based on these services and investments. There have been no changes in the basis of segmentation or in the basis of measurement of segment profit or loss since the December 31, 2014 financial statements. KW INVESTMENTS —Kennedy Wilson invests its capital in real estate assets and loans secured by real estate either on its own or with equity partners through public vehicles, joint ventures, separate accounts, and commingled funds. For investments with equity partners we are typically the general partner or investment manager in these investments with a promoted interest in the profits of our investments beyond our ownership percentage. The Company has an average ownership interest across all investments of approximately 36% . Our equity partners include publicly traded companies, financial institutions, foundations, endowments, high net worth individuals and other institutional investors. KW SERVICES —KW Services offers a comprehensive line of real estate services for the full lifecycle of real estate ownership to clients that include publicly traded companies, financial institutions, institutional investors, insurance companies, developers, builders and government agencies. KW Services has four main lines of business: investment management, property services, research and auction and conventional sales. These four business lines generate revenue for us through fees and commissions. Related party fee revenue primarily consists of fees earned on investments in which entities in the KW Group also have an ownership interest. KW Services manages over 53 million square feet of properties for institutional clients and individual investors in the United States, Europe, and Japan, which includes assets KW Services have ownership in and third party assets. With 25 offices throughout the United States, the United Kingdom, Ireland, Spain, Jersey and Japan, KW Services has the capabilities and resources to provide property services to real estate owners as well as the experience, as a real estate investor, to understand client concerns. The managers of KW Services have an extensive track record in their respective lines of business and the real estate community as a whole. Their knowledge and relationships is an excellent driver of business through the services business as well as on the investment front. Additionally, KW Services plays a critical role in supporting the company's investment strategy by providing local market intelligence and real-time data for evaluating investments, generating proprietary transaction flow and creating value through efficient implementation of asset management or repositioning strategies. The following tables summarize income activity by segment and corporate for the three and nine months ended September 30, 2015 and 2014 and balance sheet data as of September 30, 2015 and December 31, 2014 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Investments Rental $ 106.6 $ 70.6 $ 295.3 $ 124.4 Hotel 31.3 22.9 78.0 36.9 Sale of real estate 1.6 1.6 3.7 19.0 Loan purchases, loan originations and other 4.6 5.7 13.4 11.7 Total revenue 144.1 100.8 390.4 192.0 Depreciation and amortization (44.9 ) (34.7 ) (119.5 ) (67.3 ) Operating expenses (70.9 ) (55.2 ) (204.4 ) (130.4 ) Income from unconsolidated investments 15.0 11.4 40.6 43.1 Operating income 43.3 22.3 107.1 37.4 Gain on sale of real estate 4.6 — 44.7 — Acquisition-related gains 29.9 28.9 87.2 199.2 Acquisition-related expenses (8.2 ) (5.3 ) (28.3 ) (16.9 ) Interest expense - investments (31.3 ) (13.8 ) (77.9 ) (30.2 ) Other (4.3 ) (1.9 ) (0.7 ) 1.0 Net income 34.0 30.2 132.1 190.5 Net loss (income) attributable to the noncontrolling interests 10.4 0.1 14.6 (62.6 ) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 44.4 $ 30.3 $ 146.7 $ 127.9 Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Services Investment management, property services and research fees (includes $8.0, $6.2, $26.7, and $47.0 of related party fees) $ 15.1 $ 12.9 $ 47.0 $ 65.0 Total revenue 15.1 12.9 47.0 65.0 Operating expenses (16.1 ) (14.5 ) (44.2 ) (40.4 ) Income from unconsolidated investments 0.9 0.7 3.5 2.8 Operating (loss) income (0.1 ) (0.9 ) 6.3 27.4 Net income attributable to the noncontrolling interests — 2.7 0.4 2.7 Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (0.1 ) $ 1.8 $ 6.7 $ 30.1 Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Corporate Operating expenses $ (12.6 ) $ (9.7 ) $ (39.7 ) $ (25.5 ) Operating loss (12.6 ) (9.7 ) (39.7 ) (25.5 ) Interest expense-corporate (11.7 ) (15.9 ) (35.5 ) (41.1 ) Loss before provision for income taxes (24.3 ) (25.6 ) (75.2 ) (66.6 ) Provision for income taxes (4.5 ) (6.6 ) (32.5 ) (40.8 ) Net loss (28.8 ) (32.2 ) (107.7 ) (107.4 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (2.0 ) (3.1 ) (6.1 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (29.3 ) $ (34.2 ) $ (110.8 ) $ (113.5 ) Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Consolidated Investment management, property services and research fees (includes $8.0, $6.2, $26.7, and $47.0 of related party fees) $ 15.1 $ 12.9 $ 47.0 $ 65.0 Rental 106.6 70.6 295.3 124.4 Hotel 31.3 22.9 78.0 36.9 Sale of real estate 1.6 1.6 3.7 19.0 Loans and other 4.6 5.7 13.4 11.7 Total revenue 159.2 113.7 437.4 257.0 Operating expenses (99.6 ) (79.5 ) (288.3 ) (196.2 ) Depreciation and amortization (44.9 ) (34.7 ) (119.5 ) (67.3 ) Total operating expenses (144.5 ) (114.2 ) (407.8 ) (263.5 ) Income from unconsolidated investments 15.9 12.1 44.1 45.9 Operating income 30.6 11.6 73.7 39.4 Gain on sale of real estate 4.6 — 44.7 — Acquisition-related gain 29.9 28.9 87.2 199.2 Acquisition-related expenses (8.2 ) (5.3 ) (28.3 ) (16.9 ) Interest expense - investment (31.3 ) (13.8 ) (77.9 ) (30.2 ) Interest expense - corporate (11.7 ) (15.9 ) (35.5 ) (41.1 ) Other (4.3 ) (1.9 ) (0.7 ) 1.0 Income before benefit from income taxes 9.6 3.6 63.2 151.4 Provision for income taxes (4.5 ) (6.6 ) (32.5 ) (40.8 ) Net income (loss) 5.1 (3.0 ) 30.7 110.6 Net loss (income) attributable to the noncontrolling interests 10.3 2.8 15.0 (59.9 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (2.0 ) (3.1 ) (6.1 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 14.9 $ (2.2 ) $ 42.6 $ 44.6 (Dollars in millions) September 30, 2015 December 31, 2014 Total Assets Investments $ 7,106.9 $ 6,017.9 Services 60.7 60.2 Corporate 125.1 254.0 Total assets $ 7,292.7 $ 6,332.1

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES In determining quarterly provisions for income taxes, we calculate income tax expense based on actual year-to-date income and statutory tax rates. The year-to-date income tax expense also reflects our assessment of potential exposure for uncertain tax positions. The fluctuations between periods in our income tax expense are mainly due to varying levels of income and amounts attributable to foreign sourced income and noncontrolling interests. During the nine months ended September 30, 2015 , KW Group generated pretax book income of $63.2 million related to its global operations, and recorded a tax charge of $32.5 million . During the nine months ended September 30, 2014 KW Group generated pretax book income of $151.4 million related to its global operations, and recorded a tax charge of $40.8 million . The difference between the U.S. federal rate of 35% and the Company's effective rate is primarily attributable to non-deductible depreciation and acquisition-related expenses in the United Kingdom (which are primarily attributable to KWE) as well as a higher taxable gain on the disposition of the Company's Japanese multifamily portfolio. U.S. domestic taxes have not been provided for in the consolidated tax provision on amounts earned directly by our wholly-owned subsidiaries which perform property management services in Jersey, the United Kingdom, Spain and Ireland, since it is our plan to indefinitely reinvest amounts earned by such subsidiaries. If these subsidiaries' cumulative earnings were repatriated to the United States additional U.S. domestic taxes of $7.0 million attributable to Kennedy Wilson would be incurred. Additionally, approximately $359.9 million of KW Group's consolidated cash and cash equivalents held by consolidated subsidiaries is held by our subsidiaries in Jersey, the United Kingdom, Spain and Ireland.

Guarantor and Non-Guarantor Fin

Guarantor and Non-Guarantor Financial Statements	9 Months Ended
	Sep. 30, 2015
Guarantor and Nonguarantor Financial Statements [Abstract]
GUARANTOR AND NON-GARANTOR FINANCIAL STATEMENTS	GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS The following consolidating financial information and condensed consolidating financial information include: (1) Condensed consolidating balance sheets as of September 30, 2015 and December 31, 2014 ; consolidating statements of operations for the three and nine months ended September 30, 2015 and 2014 ; consolidating statements of comprehensive income for the three and nine months ended September 30, 2015 and 2014 ; and condensed consolidating statements of cash flows for the nine months ended September 30, 2015 and 2014 , of (a) Kennedy-Wilson Holdings, Inc., as the parent, (b) Kennedy-Wilson, Inc., as the subsidiary issuer, (c) the guarantor subsidiaries, (d) the non-guarantor subsidiaries and (e) Kennedy-Wilson Holdings, Inc. on a consolidated basis; and (2) Elimination entries necessary to consolidate Kennedy-Wilson Holdings, Inc., as the parent, with Kennedy-Wilson, Inc. and its guarantor and non-guarantor subsidiaries. Kennedy Wilson owns 100% of all of the guarantor subsidiaries, and, as a result, in accordance with Rule 3-10(d) of Regulation S-X promulgated by the SEC, no separate financial statements are required for these subsidiaries as of and for the three and nine months ended September 30, 2015 or 2014 . CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 40.5 $ 27.5 $ 85.8 $ — $ 153.8 Cash held by consolidated investments — — — 387.8 — 387.8 Accounts receivable — — 24.7 31.5 — 56.2 Loan purchases and originations — 77.5 12.2 369.4 (37.8 ) 421.3 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 941.2 4,522.3 — 5,463.5 Unconsolidated investments — 12.3 321.1 166.2 — 499.6 Investments in and advances to consolidated subsidiaries 1,132.1 1,865.9 1,176.2 — (4,174.2 ) — Other assets — 3.6 38.4 268.5 — 310.5 Total assets $ 1,132.1 $ 1,999.8 $ 2,541.3 $ 5,831.5 $ (4,212.0 ) $ 7,292.7 Liabilities and equity Liabilities Accounts payable $ — $ 0.4 $ 2.9 $ 16.6 $ — $ 19.9 Accrued expenses and other liabilities 13.5 164.8 133.6 37.0 — 348.9 Investment debt — — 539.1 2,795.3 (37.8 ) 3,296.6 Senior notes payable — 702.5 — — — 702.5 Total liabilities 13.5 867.7 675.6 2,848.9 (37.8 ) 4,367.9 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,118.6 1,132.1 1,865.7 1,176.9 (4,174.2 ) 1,119.1 Noncontrolling interests — — — 1,805.7 — 1,805.7 Total equity 1,118.6 1,132.1 1,865.7 2,982.6 (4,174.2 ) 2,924.8 Total liabilities and equity $ 1,132.1 $ 1,999.8 $ 2,541.3 $ 5,831.5 $ (4,212.0 ) $ 7,292.7 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 38.2 $ 21.0 $ 115.4 $ — $ 174.6 Cash held by consolidated investments — — — 763.1 — 763.1 Accounts receivable — — 31.5 24.1 — 55.6 Loan purchases and originations — 38.5 20.6 292.1 (37.8 ) 313.4 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 474.5 3,753.6 — 4,228.1 Unconsolidated investments — 9.3 328.7 154.2 — 492.2 Investments in and advances to consolidated subsidiaries 909.8 1,655.0 1,065.6 — (3,630.4 ) — Other assets — 63.7 40.6 200.8 — 305.1 Total assets $ 909.8 $ 1,804.7 $ 1,982.5 $ 5,303.3 $ (3,668.2 ) $ 6,332.1 Liabilities Accounts payable, accrued expense and other liabilities $ 8.7 $ 67.5 $ 79.2 $ 109.5 $ — 264.9 Senior notes payable — 702.4 — — — 702.4 Investment debt — — 248.3 1,985.4 (37.8 ) 2,195.9 Line of credit — 125.0 — — — 125.0 Total liabilities 8.7 894.9 327.5 2,094.9 (37.8 ) 3,288.2 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 901.1 909.8 1,655.0 1,065.6 (3,630.4 ) 901.1 Noncontrolling interests — — — 2,142.8 — 2,142.8 Total equity 901.1 909.8 1,655.0 3,208.4 (3,630.4 ) 3,043.9 Total liabilities and equity $ 909.8 $ 1,804.7 $ 1,982.5 $ 5,303.3 $ (3,668.2 ) $ 6,332.1 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services and research fees $ — $ — $ 14.7 $ 0.4 $ — $ 15.1 Rental — — 19.2 87.4 — 106.6 Hotel — — — 31.3 — 31.3 Sale of real estate — — 0.1 1.5 — 1.6 Loan purchases, loan originations and other — — 0.2 4.4 — 4.6 Total revenue — — 34.2 125.0 — 159.2 Operating expenses Commission and marketing — — 1.1 0.1 — 1.2 Rental operating — — 8.0 21.4 — 29.4 Hotel operating — — — 22.7 — 22.7 Cost of real estate sold — — — 1.1 — 1.1 Compensation and related 5.5 17.0 11.0 1.7 — 35.2 General and administrative — 3.6 4.9 1.5 — 10.0 Depreciation and amortization — 0.1 5.7 39.1 — 44.9 Total operating expenses 5.5 20.7 30.7 87.6 — 144.5 Income from unconsolidated subsidiaries — (1.2 ) 20.0 (2.9 ) — 15.9 Income from consolidated subsidiaries 10.6 44.0 (35.0 ) — (19.6 ) — Operating income (loss) 5.1 22.1 (11.5 ) 34.5 (19.6 ) 30.6 Non-operating income (expense) Acquisition-related gains — — 61.6 (31.7 ) — 29.9 Acquisition-related expenses — (0.1 ) (0.4 ) (7.7 ) — (8.2 ) Interest expense-investment — — (4.6 ) (26.7 ) — (31.3 ) Interest expense-corporate — (11.7 ) — — — (11.7 ) Gain on sale of real estate — — — 4.6 — 4.6 Other income / (expense) — 0.4 0.1 (4.8 ) — (4.3 ) Income (loss) before benefit from income taxes 5.1 10.7 45.2 (31.8 ) (19.6 ) 9.6 (Provision for) benefit from income taxes — (0.1 ) (1.2 ) (3.2 ) — (4.5 ) Net income (loss) 5.1 10.6 44.0 (35.0 ) (19.6 ) 5.1 Net (income) loss attributable to the noncontrolling interests — — — 10.3 — 10.3 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 5.1 10.6 44.0 (24.7 ) (19.6 ) 15.4 Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 4.6 $ 10.6 $ 44.0 $ (24.7 ) $ (19.6 ) $ 14.9 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services and research fees $ — $ — $ 44.9 $ 2.1 $ — $ 47.0 Rental — — 44.0 251.3 — 295.3 Hotel — — — 78.0 — 78.0 Sale of real estate — — 0.1 3.6 — 3.7 Loan purchases, loan originations and other — — 1.0 12.4 — 13.4 Total revenue — — 90.0 347.4 — 437.4 Operating expenses Commission and marketing — 1.0 2.7 0.7 — 4.4 Rental operating — — 16.2 62.3 — 78.5 Hotel operating — — — 66.1 — 66.1 Cost of real estate sold — — — 2.6 — 2.6 Compensation and related 19.6 46.9 32.4 6.5 — 105.4 General and administrative — 11.0 12.2 8.1 — 31.3 Depreciation and amortization — 0.5 14.2 104.8 — 119.5 Total operating expenses 19.6 59.4 77.7 251.1 — 407.8 Income from unconsolidated subsidiaries — — 37.6 6.5 — 44.1 Income from consolidated subsidiaries 50.3 148.7 49.0 — (248.0 ) — Operating income (loss) 30.7 89.3 98.9 102.8 (248.0 ) 73.7 Non-operating income (expense) Acquisition-related gains — — 61.6 25.6 — 87.2 Acquisition-related expenses — (0.4 ) (0.6 ) (27.3 ) — (28.3 ) Interest expense-investment — — (10.1 ) (67.8 ) — (77.9 ) Interest expense-corporate — (35.5 ) — — — (35.5 ) Gain on sale of real estate — — — 44.7 — 44.7 Other income / (expense) — 0.3 0.1 (1.1 ) — (0.7 ) Income (loss) before benefit from income taxes 30.7 53.7 149.9 76.9 (248.0 ) 63.2 (Provision for) benefit from income taxes — (3.4 ) (1.2 ) (27.9 ) — (32.5 ) Net income (loss) 30.7 50.3 148.7 49.0 (248.0 ) 30.7 Net (income) loss attributable to the noncontrolling interests — — — 15.0 — 15.0 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 30.7 50.3 148.7 64.0 (248.0 ) 45.7 Preferred dividends and accretion of preferred stock issuance costs (3.1 ) — — — — (3.1 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 27.6 $ 50.3 $ 148.7 $ 64.0 $ (248.0 ) $ 42.6 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services, and research fees $ — $ (0.5 ) $ 14.1 $ (0.7 ) $ — $ 12.9 Rental — — 5.6 65.0 — 70.6 Hotel — — — 22.9 — 22.9 Sale of real estate — — 0.1 1.5 — 1.6 Loan purchases, loan originations and other — 0.1 (2.8 ) 8.4 — 5.7 Total revenue — (0.4 ) 17.0 97.1 — 113.7 Operating expenses Commission and marketing — — 1.6 0.4 — 2.0 Rental operating — — (5.5 ) 26.4 — 20.9 Hotel operating — — — 16.9 — 16.9 Cost of real estate sold — — — 1.1 — 1.1 Compensation and related 5.3 8.8 10.7 2.0 — 26.8 General and administrative — 3.8 7.5 0.5 — 11.8 Depreciation and amortization — 0.2 3.1 31.4 — 34.7 Total operating expenses 5.3 12.8 17.4 78.7 — 114.2 Income from unconsolidated investments, net of depreciation and amortization — 2.1 4.2 5.8 — 12.1 Income from consolidated subsidiaries 2.3 35.7 30.2 — (68.2 ) — Operating income (expense) (3.0 ) 24.6 34.0 24.2 (68.2 ) 11.6 Non-operating income (expense) Acquisition-related gains — — — 28.9 — 28.9 Acquisition-related expense — — (0.1 ) (5.2 ) — (5.3 ) Interest expense-investment — — (3.5 ) (10.3 ) — (13.8 ) Interest expense-corporate — (15.9 ) — — — (15.9 ) Gain (loss) on sale of real estate — — — — — — Other income / (expense) — (0.2 ) — (1.7 ) — (1.9 ) (Loss) income before benefit from income taxes (3.0 ) 8.5 30.4 35.9 (68.2 ) 3.6 (Provision for) benefit from income taxes — (6.1 ) 5.1 (5.6 ) — (6.6 ) Net (loss) income (3.0 ) 2.4 35.5 30.3 (68.2 ) (3.0 ) Net income attributable to the noncontrolling interests — — — 2.8 — 2.8 Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. (3.0 ) 2.4 35.5 33.1 (68.2 ) (0.2 ) Preferred dividends and accretion of preferred stock issuance costs (2.0 ) — — — — (2.0 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (5.0 ) $ 2.4 $ 35.5 $ 33.1 $ (68.2 ) $ (2.2 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services, and research fees $ — $ — $ 62.6 $ 2.4 $ — $ 65.0 Rental — — 12.0 112.4 — 124.4 Hotel — — — 36.9 — 36.9 Sale of real estate — — 0.7 18.3 — 19.0 Loan purchases, loan originations and other — 0.2 1.5 10.0 — 11.7 Total revenue — 0.2 76.8 180.0 — 257.0 Operating expenses Commission and marketing — — 3.0 0.8 — 3.8 Rental operating — — (3.1 ) 40.9 — 37.8 Hotel operating — — — 32.1 — 32.1 Cost of real estate sold — — 0.7 13.9 — 14.6 Compensation and related 8.7 39.0 27.0 4.9 — 79.6 General and administrative — 9.4 11.5 7.4 — 28.3 Depreciation and amortization — 0.7 7.9 58.7 — 67.3 Total operating expenses 8.7 49.1 47.0 158.7 — 263.5 Income from unconsolidated investments, net of depreciation and amortization — 3.3 35.1 7.5 — 45.9 Income from consolidated subsidiaries 119.3 245.2 183.1 — (547.6 ) — Operating income (expense) 110.6 199.6 248.0 28.8 (547.6 ) 39.4 Non-operating income (expense) Acquisition-related gains — (7.0 ) 3.7 202.5 — 199.2 Acquisition-related expense — — (1.7 ) (15.2 ) — (16.9 ) Interest expense-investment — — (3.5 ) (26.7 ) — (30.2 ) Interest expense-corporate — (41.1 ) — — — (41.1 ) Other income/(expense) — — 1.5 (0.5 ) — 1.0 (Loss) income before benefit from income taxes 110.6 151.5 248.0 188.9 (547.6 ) 151.4 (Provision for) benefit from income taxes — (32.2 ) (3.0 ) (5.6 ) — (40.8 ) Net (loss) income 110.6 119.3 245.0 183.3 (547.6 ) 110.6 Net income attributable to the noncontrolling interests — — — (59.9 ) — (59.9 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. 110.6 119.3 245.0 123.4 (547.6 ) 50.7 Preferred dividends and accretion of preferred stock issuance costs (6.1 ) — — — — (6.1 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 104.5 $ 119.3 $ 245.0 $ 123.4 $ (547.6 ) $ 44.6 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 5.1 $ 10.6 $ 44.0 $ (35.0 ) $ (19.6 ) $ 5.1 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (51.8 ) (51.8 ) (1.0 ) (138.3 ) 191.1 (51.8 ) Amounts reclassified out of AOCI during the period (0.3 ) (0.3 ) (0.3 ) — 0.6 (0.3 ) Unrealized currency derivative contracts gain (loss) (8.3 ) (8.3 ) 5.8 (14.1 ) 16.6 (8.3 ) Total other comprehensive (loss) income for the period $ (60.4 ) $ (60.4 ) $ 4.5 $ (152.4 ) $ 208.3 $ (60.4 ) Comprehensive (loss) income $ (55.3 ) $ (49.8 ) $ 48.5 $ (187.4 ) $ 188.7 $ (55.3 ) Comprehensive loss attributable to noncontrolling interests — — — 67.9 — 67.9 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (55.3 ) $ (49.8 ) $ 48.5 $ (119.5 ) $ 188.7 $ 12.6 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ (3.0 ) $ 2.4 $ 35.5 $ 30.3 $ (68.2 ) $ (3.0 ) Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains (89.0 ) (89.0 ) (21.4 ) (12.6 ) 123.0 (89.0 ) Unrealized gain on marketable securities (1.1 ) (1.1 ) — — 1.1 (1.1 ) Amounts reclassified out of AOCI during the period — — 9.5 (9.5 ) — — Unrealized currency derivative contracts (loss) gain 20.1 20.1 6.5 11.3 (37.9 ) 20.1 Total other comprehensive income for the period $ (70.0 ) $ (70.0 ) $ (5.4 ) $ (10.8 ) $ 86.2 $ (70.0 ) Comprehensive (loss) income $ (73.0 ) $ (67.6 ) $ 30.1 $ 19.5 $ 18.0 $ (73.0 ) Comprehensive (income) loss attributable to noncontrolling interests — — — 58.0 — 58.0 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (73.0 ) $ (67.6 ) $ 30.1 $ 77.5 $ 18.0 $ (15.0 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 30.7 $ 50.3 $ 148.7 $ 49.0 $ (248.0 ) $ 30.7 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (88.0 ) (88.0 ) (9.4 ) (23.8 ) 121.2 (88.0 ) Unrealized gain on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Amounts reclassified out of AOCI during the period 9.7 9.7 (0.6 ) 10.3 (19.4 ) 9.7 Unrealized currency derivative contracts gain (loss) 6.7 6.7 8.3 (1.6 ) (13.4 ) 6.7 Total other comprehensive (loss) income for the period $ (71.5 ) $ (71.5 ) $ (1.7 ) $ (15.1 ) $ 88.3 $ (71.5 ) Comprehensive (loss) income $ (40.8 ) $ (21.2 ) $ 147.0 $ 33.9 $ (159.7 ) $ (40.8 ) Comprehensive loss attributable to noncontrolling interests — — — 78.3 78.3 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (40.8 ) $ (21.2 ) $ 147.0 $ 112.2 $ (159.7 ) $ 37.5 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ 110.6 $ 119.3 $ 245.0 $ 183.3 $ (547.6 ) $ 110.6 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains (67.1 ) (67.1 ) 2.5 (16.5 ) 81.1 (67.1 ) Unrealized gain on marketable securities (1.1 ) (1.1 ) — — 1.1 (1.1 ) Amounts reclassified out of AOCI during the period (7.1 ) (7.1 ) 1.2 (8.3 ) 14.2 (7.1 ) Unrealized currency derivative contracts (loss) gain 16.5 16.5 5.3 10.1 (31.9 ) 16.5 Total other comprehensive income for the period $ (58.8 ) $ (58.8 ) $ 9.0 $ (14.7 ) $ 64.5 $ (58.8 ) Comprehensive (loss) income $ 51.8 $ 60.5 $ 254.0 $ 168.6 $ (483.1 ) $ 51.8 Comprehensive (income) loss attributable to noncontrolling interests — — — (23.5 ) — (23.5 ) Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ 51.8 $ 60.5 $ 254.0 $ 145.1 $ (483.1 ) $ 28.3 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided by (used in) operating activities $ 4.8 $ 41.2 $ 103.9 $ (35.7 ) $ 114.2 Cash flows from investing activities: Additions to loans — (39.0 ) — (194.9 ) (233.9 ) Collections of loans — — 8.7 6.6 15.3 Net proceeds from sale of real estate — — — 523.4 523.4 Proceeds from settlement of foreign forward contracts — 17.9 — 18.3 36.2 Purchases of foreign currency options — (3.7 ) — (1.5 ) (5.2 ) Purchases of and additions to real estate — — (186.3 ) (1,347.7 ) (1,534.0 ) Proceeds from sale of marketable securities — — 6.2 — 6.2 Distributions from unconsolidated investments — — 44.5 47.5 92.0 Contributions to unconsolidated investments — (1.5 ) (67.4 ) (86.3 ) (155.2 ) (Investments in) distributions from consolidated subsidiaries, net (170.7 ) 113.1 18.9 38.7 — Net cash (used in) provided by investing activities (170.7 ) 86.8 (175.4 ) (995.9 ) (1,255.2 ) Cash flows from financing activities: Borrowings under line of credit — 75.0 — — 75.0 Repayment of line of credit — (200.0 ) — — (200.0 ) Borrowings under investment debt — — 84.0 1,548.2 1,632.2 Repayment of investment debt — — (5.1 ) (615.1 ) (620.2 ) Debt issue costs — (0.7 ) (0.9 ) (13.4 ) (15.0 ) Issuance of common stock 215.0 — — — 215.0 Repurchase of common stock (11.4 ) — — — (11.4 ) Dividends paid (37.7 ) — — — (37.7 ) Acquisition of KWE shares from noncontrolling interest holders — — — (59.5 ) (59.5 ) Contributions from noncontrolling interests, excluding KWE — — — 6.5 6.5 Distributions to noncontrolling interests — — — (205.8 ) (205.8 ) Net cash provided by financing activities 165.9 (125.7 ) 78.0 660.9 779.1 Effect of currency exchange rate changes on cash and cash equivalents — — — (34.2 ) (34.2 ) Net change in cash and cash equivalents — 2.3 6.5 (404.9 ) (396.1 ) Cash and cash equivalents, beginning of year — 38.2 21.0 878.5 937.7 Cash and cash equivalents, end of period $ — $ 40.5 $ 27.5 $ 473.6 $ 541.6 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided (used in) by operating activities $ (0.1 ) $ (25.7 ) $ 73.7 $ 37.8 $ 85.7 Cash flows from investing activities: Additions to loans — — (5.8 ) (470.6 ) (476.4 ) Collections of loans — — 15.1 80.8 95.9 Net proceeds from sale of real estate — — — 16.3 16.3 Purchases of and additions to real estate — (0.6 ) (71.6 ) (1,466.0 ) (1,538.2 ) Proceeds from settlement of foreign forward contracts — — — 7.5 7.5 Purchases of foreign currency options — — — (2.2 ) (2.2 ) Distributions from unconsolidated investments — 0.3 51.6 47.4 99.3 Contributions to unconsolidated investments — (2.0 ) (47.9 ) (89.7 ) (139.6 ) Investment in marketable securities — — (11.5 ) — (11.5 ) (Investments in) distributions from consolidated subsidiaries, net (159.3 ) (198.4 ) (65.0 ) 422.7 — Net cash (used in) provided by investing activities (159.3 ) (200.7 ) (135.1 ) (1,453.8 ) (1,948.9 ) Cash flows from financing activities: Borrowings under line of credit — 90.0 — — 90.0 Repayment of junior subordinated debt — (40.0 ) — — (40.0 ) Repayment of lines of credit — (90.0 ) — — (90.0 ) Borrowings under investment debt — — 31.5 793.6 825.1 Borrowings under senior notes payable — 297.2 — — 297.2 Debt issue costs — (7.8 ) (0.6 ) (20.1 ) (28.5 ) Repayment of investment debt — — (0.1 ) (32.1 ) (32.2 ) Issuance of common stock 190.6 — — — 190.6 Dividends paid (28.4 ) — — — (28.4 ) Repurchase of common stock (2.9 ) — — — (2.9 ) Proceeds from issuance of KWE shares — — — 1,351.1 1,351.1 Restricted cash — — — (42.6 ) (42.6 ) Acquisition of KWE shares from noncontrolling interest holders — — — (16.8 ) (16.8 ) Contributions from noncontrolling interests, excluding KWE — — — 12.9 12.9 Distributions to noncontrolling interests — — — (24.3 ) (24.3 ) Net cash provided by (used in) financing activities 159.3 249.4 30.8 2,021.7 2,461.2 Effect of currency exchange rate changes on cash and cash equivalents — — — 10.8 10.8 Net change in cash and cash equivalents (0.1 ) 23.0 (30.6 ) 616.5 608.8 Cash and cash equivalents, beginning of period — 48.2 77.2 52.8 178.2 Cash and cash equivalents, end of period $ (0.1 ) $ 71.2 $ 46.6 $ 669.3 $ 787.0

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On November 5, 2015, KWE announced its first draw under its Euro Medium Term Note Programme that it established on November 5, 2015, with the issuance of €300 million aggregate principal amount of senior unsecured notes. The notes will have an annual fixed coupon of 3.25% and will mature in 2025. Subsequent to September 30, 2015, Kennedy Wilson drew $20.0 million from its revolving credit facility. The Company evaluated subsequent events through the date these financial statements were issued.

Summary of Significant Accoun27

Summary of Significant Accounting Policies and Adoption of New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
REVENUE RECOGNITION	Performance fees or carried interests are allocated to the general partner, special limited partner or asset manager of our real estate funds and loan pool participations based on the cumulative performance of the funds and loan pools and are subject to preferred return thresholds of the limited partners and participants. At the end of each reporting period, we calculate the performance fee that would be due to the general partner, special limited partner or asset manager's interests for a fund or loan pool, pursuant to the fund agreement or participation agreements, as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as performance fees to reflect either (a) positive performance resulting in an increase in the performance fee allocated to the general partner or asset manager or (b) negative performance that would cause the amount due to us to be less than the amount previously recognized as revenue, resulting in a negative adjustment to performance fees allocated to the general partner or asset manager. A majority of the performance fees are recognized in investment management revenue, and substantially all of the carried interest is recognized in income from unconsolidated investments in our consolidated statements of operations.
REAL ESTATE ACQUISITIONS	The purchase price of acquired properties is recorded to land, buildings and building improvements and intangible lease value (value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any) based on their respective estimated fair values in accordance with ASC Subtopic 805-10, Business Combinations . Acquisition-related costs are expensed as incurred. The ownership of the other interest holders in consolidated subsidiaries is reflected as noncontrolling interests. The valuations of real estate are based on management estimates of the real estate assets using income and market approaches. The indebtedness securing the real estate is valued, in part, based on third party valuations and management estimates also using an income approach.
NONCONTROLLING INTERESTS	Noncontrolling interests are reported within equity as a separate component in accordance with ASC Subtopic 810-10, Noncontrolling Interests in Consolidated Financial Statements . Revenues, expenses, gains, losses, net income (loss), and other comprehensive income (loss) are reported in the consolidated statements of operations at the consolidated amounts and net income (loss) and comprehensive income (loss) attributable to noncontrolling interests are separately stated.
FOREIGN CURRENCIES	The financial statements of KW Group's subsidiaries located outside the United States are measured using the local currency as this is their functional currency. The assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date, and income and expenses are translated at the average monthly rate. The foreign currencies include the euro, the British pound sterling, and the Japanese yen. Cumulative translation adjustments, to the extent not included in cumulative net income, are included in the consolidated statement of equity as a component of accumulated other comprehensive income.
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDING ACTIVITIES	All derivative instruments are recognized as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships, changes in fair value of cash flow hedges or net investment hedges are recognized in accumulated other comprehensive income, to the extent the derivative is effective at offsetting the changes in the item being hedged until the hedged item affects earnings. Changes in fair value for fair value hedges are recognized in earnings. Fluctuations in foreign exchanges rates may have a significant impact on the results of our operations. In order to manage the effect of these fluctuations, we generally hedge our book equity exposure to changes in foreign currency rates through currency forward contracts and options. We typically hedge 50% - 100% of book equity exposure against these foreign currencies.
INCOME TAXES	Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In accordance with ASC Subtopic 740-10, Accounting for Uncertainty in Income Taxes , the effect of income tax positions is recognized only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.
RECENT ACCOUNTING PRONOUNCEMENTS	On April 10, 2014, the FASB issued ASU 2014-08, which amends the definition of discontinued operations and requires additional disclosures for disposal transactions that do not meet the revised discontinued operations criteria. ASU 2014-08 is required to be adopted for fiscal years beginning after December 15, 2014, with early adoption permitted. Our early adoption of this pronouncement on January 1, 2014 did not have a material impact on KW Group's consolidated financial statements in the year of adoption. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, a five step model to recognize revenue from customer contracts in an effort to increase consistency and comparability throughout global capital markets and across industries. The model will identify the contract, identify any separate performance obligations in the contract, determine the transaction price, allocate the transaction price and recognize revenue when the performance obligation is satisfied. The new standard will replace most existing revenue recognition in GAAP when it becomes effective for the Company on January 1, 2018. We have not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , which makes certain changes to both the variable interest model and the voting model, including changes to (1) the identification of variable interests (fees paid to a decision maker or service provider), (2) the variable interest entity characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. ASU 2015-02 is effective for KW Group beginning January 1, 2016. Early adoption is permitted. KW Group is still evaluating the impact the adoption of this standard will have on the consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , to reduce the complexity of financial statement presentation pursuant to which debt issuance costs will be presented as a direct deduction from the carrying amount of debt liabilities as opposed to a deferred charge recognized as an asset. ASU 2015-03 is required to be adopted for fiscal years beginning after December 15, 2015 and the Company does not expect its adoption to have a material impact on KW Group's consolidated financial statements. The FASB did not issue any other ASCs during the first nine months of 2015 that we expect to be applicable and have a material impact on our financial position or results of operations.
RECLASSIFICATIONS	Certain balances included in prior year's financial statements have been reclassified to conform to the current year's presentation.

Real Estate and In-Place Leas28

Real Estate and In-Place Lease Value (Tables)	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Schedule of Investment in Consolidated Real Estate Properties	The following table summarizes KW Group's investment in consolidated real estate properties at September 30, 2015 and December 31, 2014 , respectively: September 30, December 31, (Dollars in millions) 2015 2014 Land $ 1,394.1 $ 1,046.9 Buildings 3,706.0 2,945.3 Building improvements 173.2 75.1 In-place lease value 408.9 282.6 5,682.2 4,349.9 Less accumulated depreciation and amortization (218.7 ) (121.8 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,463.5 $ 4,228.1
Schedule of Business Acquisitions, by Acquisition	During the nine months ended September 30, 2015 , KW Group acquired the following consolidated properties: (Dollars in millions) Preliminary Purchase Price Allocation at Acquisition (1) Location Description Land Building Acquired in place lease values (2) Investment debt NCI (3) KWH Shareholders' Equity Western U.S. 584k square feet of commercial properties and 1,676 multifamily units (6) $ 141.6 $ 358.5 $ 20.1 $ 313.8 $ 6.4 $ 200.0 United Kingdom Portfolio of 176 commercial, retail, and industrial properties (4) 276.1 421.7 76.6 529.3 205.7 39.4 United Kingdom Portfolio of 9 commercial properties (4) 104.4 178.7 45.4 — 270.4 58.1 Ireland Three properties that total 149k square feet (4)(5) 21.6 81.6 12.3 — 93.2 22.3 Spain Two development projects (4) — 43.9 — — 36.8 7.1 Spain 16 supermarkets (4) 23.6 66.0 4.7 — 77.6 16.7 $ 567.3 $ 1,150.4 $ 159.1 $ 843.1 $ 690.1 $ 343.6 (1) Excludes acquisition expenses and net other assets. The purchase price allocations for properties acquired during the nine months ended September 30, 2015 are based on preliminary measurements of fair value that are subject to change. These allocations represent the Company's current best estimates of fair value. (2) Includes above and below market leases in this table. Above and below market leases are part of other assets and accrued expenses and other liabilities. (3) Noncontrolling interest amounts associated with acquisition. (4) These portfolios of properties were directly acquired and are held by KWE. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (5) KWE recognized an acquisition-related gain of $ 11.2 million on these transaction as the property was previously a mortgage note that KWE foreclosed on and converted to real estate. As the fair value of the assets was in excess of the basis in the previously held mortgage notes, KWE recognized an acquisition-related gain upon conversion. (6) At various points during the year-ended September 30, 2015 , properties included within this group were accounted for under equity method. KW Group purchased the equity partners' interests and consolidated the properties resulting in acquisition-related gains of $76.0 million .
Business Acquisition, Pro Forma Information	The pro forma data presented below assumes that the acquisitions during the three and nine months ended September 30, 2015 occurred as of January 1, 2014. Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions, except for per share data) 2015 2014 2015 2014 Pro forma revenues $ 479.9 $ 163.5 $ 363.4 $ 149.3 Pro forma net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders (1) 45.1 14.6 52.8 0.5 Pro forma net income (loss) per share: Basic $ 0.13 $ — $ 0.43 $ 0.50 Diluted $ 0.13 $ — $ 0.42 $ 0.49 (1) Excludes the effects of acquisition-related gains.

Unconsolidated Investments (Tab

Unconsolidated Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Unconsolidated Joint Ventures	KW Group has unconsolidated investments through real estate related joint ventures and loan pool participations. The following table details its investments in joint ventures and loan pool participations as of September 30, 2015 and December 31, 2014 : September 30, December 31, (Dollars in millions) 2015 2014 Investments in joint ventures $ 498.3 $ 435.8 Investments in loan pool participations 1.3 56.4 Total $ 499.6 $ 492.2
Schedule of Joint Ventures by Location and Investment Type	The following table details our investments in joint ventures by investment type and geographic location as of September 30, 2015 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 169.4 $ 60.5 $ 12.5 $ 182.6 $ 12.3 $ 437.3 Japan 6.2 — — — — 6.2 United Kingdom — 25.4 — — — 25.4 Spain — — — — 29.4 29.4 Total $ 175.6 $ 85.9 $ 12.5 $ 182.6 $ 41.7 $ 498.3 The following table details our investments in joint ventures by investment type and geographic location as of December 31, 2014 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 134.5 $ 110.3 $ 50.3 $ 71.0 $ 9.3 $ 375.4 United Kingdom — 31.5 — — — 31.5 Spain — — — — 28.9 28.9 Total $ 134.5 $ 141.8 $ 50.3 $ 71.0 $ 38.2 $ 435.8
Schedule of Joint Venture Cash Distributions by Investment Type and Geographic Location	The following table details cash distributions by investment type and geographic location for the nine months ended September 30, 2015 : Multifamily Commercial Loan Pools Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 22.7 $ 5.2 $ 10.0 $ 32.0 $ 2.3 $ 7.5 $ 3.0 $ 40.2 $ 42.5 Japan 0.1 — — — — — 0.1 — United Kingdom — — 1.2 1.8 6.4 41.5 — — 7.6 43.3 Ireland — — — — 1.8 6.2 — — 1.8 6.2 Spain — — — — 1.1 1.1 — Total $ 22.8 $ 5.2 $ 11.2 $ 33.8 $ 8.2 $ 50.0 $ 8.6 $ 3.0 $ 50.8 $ 92.0
Schedule of Interest Income and Foreign Currency Gain (Loss) Recognized in Loan Pool Participations	The following table presents the income from unconsolidated investments for loan pools and foreign currency gain and (loss) recognized by KW Group during the three and nine months ended September 30, 2015 and 2014 for the loan pools that were outstanding: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Income from unconsolidated investments - loan pools $ (1.8 ) $ 2.3 $ 4.3 $ 7.0 Foreign currency translation loss (1) (0.7 ) (2.9 ) (1.0 ) (2.5 ) Total $ (2.5 ) $ (0.6 ) $ 3.3 $ 4.5 (1) Excludes impact of currency derivative contracts. These amounts are recognized through the Statement of Comprehensive Income (Loss).

Fair Value Measurements and t30

Fair Value Measurements and the Fair Value Option (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of September 30, 2015 : (Dollars in millions) Level 1 Level 2 Level 3 Total Marketable securities $ 0.3 $ — $ — $ 0.3 Unconsolidated investments — — 206.1 206.1 Currency forward contracts — 20.0 — 20.0 Currency option contracts — (2.9 ) — (2.9 ) Total $ 0.3 $ 17.1 $ 206.1 $ 223.5 The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2014 : (Dollars in millions) Level 1 Level 2 Level 3 Total Marketable securities $ 6.5 $ — $ — $ 6.5 Unconsolidated investments — — 85.9 85.9 Currency forward contracts — 23.9 — 23.9 Currency option contracts — 6.7 — 6.7 Total $ 6.5 $ 30.6 $ 85.9 $ 123.0
Schedule of Investments in Joint Ventures Held at Fair Value	The following table summarizes our investments in unconsolidated investments held at fair value by type: (Dollars in millions) September 30, December 31, 2014 Funds $ 33.3 $ 24.9 FV Option 172.8 61.0 Total $ 206.1 $ 85.9
Schedule of Changes in Level 3 Investments	The following table presents changes in Level 3 investments for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Beginning balance $ 186.6 $ 78.5 $ 85.9 $ 81.1 Unrealized gains 5.9 — 24.1 — Unrealized losses — — (0.1 ) — Realized Gains 5.2 — 5.2 — Contributions 16.5 16.9 107.7 19.3 Distributions (8.1 ) (5.0 ) (16.4 ) (10.0 ) Other — — (0.3 ) — Ending balance $ 206.1 $ 90.4 $ 206.1 $ 90.4
Schedule of the Funds and Fair Value Option Investments, Significant Inputs	The table below describes the range of unobservable inputs for real estate assets: Estimated Rates Used for Capitalization Rates Discount Rates Office 5.25% - 8.25% 7.00% - 11.00% Retail 6.70% - 7.00% 8.00% - 9.00% Hotel 6.50% 7.50% Multifamily 4.40% - 7.00% 4.90% - 10.75% Loan n/a 12.00% - 25.50% Land and condominium units n/a 8.00% - 9.00%
Schedule of Currency Forward Contracts	The table below details the currency derivative contracts KW Group held as of September 30, 2015 : (Dollars in millions) Change in Unrealized Gains (Losses) Currency Hedged Type Underlying Currency Notional Amount Trade Date Settlement/Expiration Date Forward Rate/Strike Price Fair Value Nine Months Ended September 30, 2015 EUR Forward USD €20,000,000 6/25/2014 6/27/2019 1.4471 $ 5.2 $ 2.5 EUR (2) Option USD €130,000,000 3/10/2015 - 3/19/2015 3/7/2019 - 3/19/2020 1.0700 - 1.0960 (2.1 ) (2.1 ) GBP (2) Forward USD £103,000,000 2/25/2014 - 8/10/2015 10/9/2018 - 8/12/2020 1.5578 - 1.6371 10.5 6.7 GBP Option USD £100,200,000 1/7/2015 - 8/17/2015 1/7/2016 - 8/17/2020 1.4235 - 1.5434 1.9 0.7 EUR (1) Forward GBP €347,477,119 6/18/2014 - 6/29/2015 6/15/2016 - 6/30/2022 0.7110 - 0.8621 4.4 (1.8 ) EUR (1) Option GBP €175,000,000 3/13/2015 - 6/3/2015 3/15/2018 - 6/3/2020 0.7070 - 0.7500 (2.7 ) (2.7 ) YEN Forward USD ¥649,000,000 6/23/2015 - 8/21/2015 2/25/2016 - 6/25/2020 111.26 - 121.51 (0.1 ) (0.1 ) Total (3) $ 17.1 $ 3.2 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) For the nine months ended September 30, 2015 , $5.7 million loss recognized through other income on the consolidated statement of operations, due to portion of hedge not designated as a net investment hedge. (3) Hedges are presented gross in the consolidated balance sheet. Hedge assets are included in other assets and hedge liabilities are included in other liabilities.

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: (Dollars in millions) September 30, December 31, 2014 Above-market leases, net of accumulated amortization of $16.3 and $6.7 at September 30, 2015 and December 31, 2014, respectively $ 100.9 $ 71.6 Loan fees, net of accumulated amortization of $10.7 and $5.0 at September 30, 2015 and December 31, 2014, respectively 44.1 36.0 Deferred tax asset, net 36.1 27.6 Other, net of accumulated amortization of $2.7 and $1.8 at September 30, 2015 and December 31, 2014, respectively 33.5 25.8 Hedge Assets 32.7 30.6 Goodwill 23.9 23.9 Office furniture and equipment net of accumulated depreciation of $9.1 and $5.7 at September 30, 2015 and December 31, 2014, respectively 20.5 22.0 Prepaid expenses 15.0 11.2 Deposits 3.5 49.9 Marketable securities (1) 0.3 6.5 Other Assets $ 310.5 $ 305.1 (1) The amount above excludes Kennedy Wilson's 24.0 million shares in KWE as the investment is eliminated due to the consolidation of KWE's results. Based on the closing price of KWE shares on September 30, 2015 , the fair value of Kennedy Wilson's investment in KWE is $413.5 million .

Investment Debt (Tables)

Investment Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Mortgage Loans and Notes Payable	Investment debt at September 30, 2015 and December 31, 2014 consists of the following: (Dollars in millions) Carrying Amount of Investment Debt as of (1) Investment Debt by Product Type Region September 30, December 31, Mortgage debt Multifamily (1) Western U.S. $ 824.7 $ 565.5 Commercial Western U.S. 256.6 131.0 Hotel Western U.S 39.5 37.2 Multifamily (1) Japan — 242.9 Commercial Japan 2.1 2.1 Commercial (1)(2) Ireland 391.5 412.5 Multifamily (1)(3) Ireland 192.6 133.6 Residential and Other (1)(5) Ireland 4.0 29.0 Hotel Ireland 80.5 72.9 Residential and Other (7) Spain 3.5 — Commercial (1)(4) United Kingdom 1,054.7 569.2 Total mortgage debt 2,849.7 2,195.9 Unsecured (6) United Kingdom 446.9 — Investment debt $ 3,296.6 $ 2,195.9 (1) The investment debt payable balances include unamortized debt premiums. Debt premiums represent the excess of the fair value of debt over the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan premium as of September 30, 2015 and December 31, 2014 was $1.9 million and $15.4 million . (2) Includes $295.1 million and $323.8 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (3) Includes $53.0 million and $40.3 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (4) Includes $969.4 million and $483.0 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (5) Includes $0.0 million and $14.6 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (6) Includes $446.9 million and $0.0 million of unsecured debt held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (7) Includes $3.5 million and $0.0 million of investment debt held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . September 30, 2015 December 31, 2014 (Dollars in millions) Unamortized Unamortized Interest Rate Maturity Date Face Value Net Premium/(Discount) Carrying Value Face Value Net Premium/(Discount) Carrying Value 2042 Notes 7.75% 12/1/2042 $ 55.0 $ — $ 55.0 $ 55.0 $ — $ 55.0 2024 Notes 5.88% 4/1/2024 650.0 (2.5 ) 647.5 650.0 (2.6 ) 647.4 Senior Notes $ 705.0 $ (2.5 ) $ 702.5 $ 705.0 $ (2.6 ) $ 702.4
Schedule of Maturities of Mortgage Loans and Notes Payable	The aggregate maturities of investment debt subsequent to September 30, 2015 are as follows: (Dollars in millions) Aggregate Maturities 2015 $ 8.8 2016 44.5 2017 193.9 2018 247.2 2019 911.7 Thereafter 1,888.6 3,294.7 Debt premium 1.9 $ 3,296.6

Senior Notes (Tables)

Senior Notes (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Senior Notes	Investment debt at September 30, 2015 and December 31, 2014 consists of the following: (Dollars in millions) Carrying Amount of Investment Debt as of (1) Investment Debt by Product Type Region September 30, December 31, Mortgage debt Multifamily (1) Western U.S. $ 824.7 $ 565.5 Commercial Western U.S. 256.6 131.0 Hotel Western U.S 39.5 37.2 Multifamily (1) Japan — 242.9 Commercial Japan 2.1 2.1 Commercial (1)(2) Ireland 391.5 412.5 Multifamily (1)(3) Ireland 192.6 133.6 Residential and Other (1)(5) Ireland 4.0 29.0 Hotel Ireland 80.5 72.9 Residential and Other (7) Spain 3.5 — Commercial (1)(4) United Kingdom 1,054.7 569.2 Total mortgage debt 2,849.7 2,195.9 Unsecured (6) United Kingdom 446.9 — Investment debt $ 3,296.6 $ 2,195.9 (1) The investment debt payable balances include unamortized debt premiums. Debt premiums represent the excess of the fair value of debt over the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan premium as of September 30, 2015 and December 31, 2014 was $1.9 million and $15.4 million . (2) Includes $295.1 million and $323.8 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (3) Includes $53.0 million and $40.3 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (4) Includes $969.4 million and $483.0 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (5) Includes $0.0 million and $14.6 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (6) Includes $446.9 million and $0.0 million of unsecured debt held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . (7) Includes $3.5 million and $0.0 million of investment debt held by KWE as of September 30, 2015 and December 31, 2014 , respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015 . September 30, 2015 December 31, 2014 (Dollars in millions) Unamortized Unamortized Interest Rate Maturity Date Face Value Net Premium/(Discount) Carrying Value Face Value Net Premium/(Discount) Carrying Value 2042 Notes 7.75% 12/1/2042 $ 55.0 $ — $ 55.0 $ 55.0 $ — $ 55.0 2024 Notes 5.88% 4/1/2024 650.0 (2.5 ) 647.5 650.0 (2.6 ) 647.4 Senior Notes $ 705.0 $ (2.5 ) $ 702.5 $ 705.0 $ (2.6 ) $ 702.4

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule of Dividends Declared and Paid	During the following periods, Kennedy Wilson declared and paid the following cash distributions on its common and preferred stock: Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 (Dollars in millions) Declared Paid Declared Paid Preferred Stock Series A (1) $ 1.5 $ 1.5 $ 4.5 $ 4.5 Series B (2) 1.6 1.6 1.6 1.6 Total Preferred Stock 3.1 3.1 6.1 6.1 Common Stock (3) 39.5 34.6 25.0 22.3 Total (4) $ 42.6 $ 37.7 $ 31.1 $ 28.4 (1) 6.00% Series A, 100,000 shares issued and outstanding as of September 30, 2014, mandatorily converted on May 19, 2015 into 8,554,948 shares of the Company’s common stock. (2) 6.45% Series B, 32,550 shares issued and outstanding as of September 30, 2015 and 2014 , mandatorily convertible on November 3, 2018, or earlier at the option of the holders thereof, or, in certain circumstances, at our election on or after May 3, 2017. The conversion price for the Series B mandatory convertible preferred stock was $10.03 and $10.20 per share as of September 30, 2015 and 2014 , respectively, and is subject to further adjustment pursuant to customary anti-dilution provisions. (3) $0.0001 par value per share, 200,000,000 shares authorized as of September 30, 2015 and 2014 , respectively. (4) Common stock dividends were declared at the end of each quarter and paid in the following quarter. The amount declared and not paid is accrued on the consolidated balance sheet.
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in each component of accumulated other comprehensive income (loss), net of taxes: Foreign Currency Translation Currency Derivative Contracts Marketable Securities Total Accumulated Other Comprehensive Income (Dollars in millions) Balance at December 31, 2014 $ (42.4 ) $ 14.4 $ (0.2 ) $ (28.2 ) Unrealized (loss) gains, arising during the period (118.4 ) 19.5 0.1 (98.8 ) Amounts reclassified out of AOCI during the period 18.8 (9.0 ) (0.1 ) 9.7 Taxes on unrealized gains (losses), arising during the period 30.4 (12.8 ) — 17.6 Noncontrolling interest 55.6 7.7 — 63.3 Balance at September 30, 2015 $ (56.0 ) $ 19.8 $ (0.2 ) $ (36.4 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a summary of the elements used in calculating basic and diluted income (loss) per share for the three and nine months ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions, except share and per share amounts) 2015 2014 2015 2014 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 14.9 $ (2.2 ) $ 42.6 $ 44.6 Net income (loss) and dividends allocated to participating securities (0.6 ) (0.5 ) (1.9 ) (2.6 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities 14.3 (2.7 ) 40.7 42.0 Dividends declared on common shares (13.0 ) (8.1 ) (37.8 ) (24.1 ) Undistributed earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ 1.3 $ (10.8 ) $ 2.9 $ 17.9 Distributed earnings per share $ 0.12 $ 0.09 $ 0.36 $ 0.27 Undistributed earnings per share 0.01 (0.12 ) 0.04 0.20 Income (loss) per basic 0.13 (0.03 ) 0.40 0.47 Income (loss) per diluted $ 0.13 $ (0.03 ) $ 0.40 $ 0.47 Weighted average shares outstanding for basic 107,433,124 89,267,838 101,361,606 88,854,215 Weighted average shares outstanding for diluted (1) 107,433,124 89,267,838 105,517,172 90,169,008 Dividends declared per common share $ 0.12 $ 0.09 $ 0.36 $ 0.27 (1) For the three and nine months ended September 30, 2015 , a total of 3,538,420 and 3,163,589 , respectively, potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive. For the three months ended September 30, 2014, a total of 12,993,531 potentially dilutive securities have not been included in the diluted weighted average shares as they are anti-dilutive. Potentially anti-dilutive securities include preferred stock and unvested restricted stock grants.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize income activity by segment and corporate for the three and nine months ended September 30, 2015 and 2014 and balance sheet data as of September 30, 2015 and December 31, 2014 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Investments Rental $ 106.6 $ 70.6 $ 295.3 $ 124.4 Hotel 31.3 22.9 78.0 36.9 Sale of real estate 1.6 1.6 3.7 19.0 Loan purchases, loan originations and other 4.6 5.7 13.4 11.7 Total revenue 144.1 100.8 390.4 192.0 Depreciation and amortization (44.9 ) (34.7 ) (119.5 ) (67.3 ) Operating expenses (70.9 ) (55.2 ) (204.4 ) (130.4 ) Income from unconsolidated investments 15.0 11.4 40.6 43.1 Operating income 43.3 22.3 107.1 37.4 Gain on sale of real estate 4.6 — 44.7 — Acquisition-related gains 29.9 28.9 87.2 199.2 Acquisition-related expenses (8.2 ) (5.3 ) (28.3 ) (16.9 ) Interest expense - investments (31.3 ) (13.8 ) (77.9 ) (30.2 ) Other (4.3 ) (1.9 ) (0.7 ) 1.0 Net income 34.0 30.2 132.1 190.5 Net loss (income) attributable to the noncontrolling interests 10.4 0.1 14.6 (62.6 ) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 44.4 $ 30.3 $ 146.7 $ 127.9 Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Services Investment management, property services and research fees (includes $8.0, $6.2, $26.7, and $47.0 of related party fees) $ 15.1 $ 12.9 $ 47.0 $ 65.0 Total revenue 15.1 12.9 47.0 65.0 Operating expenses (16.1 ) (14.5 ) (44.2 ) (40.4 ) Income from unconsolidated investments 0.9 0.7 3.5 2.8 Operating (loss) income (0.1 ) (0.9 ) 6.3 27.4 Net income attributable to the noncontrolling interests — 2.7 0.4 2.7 Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (0.1 ) $ 1.8 $ 6.7 $ 30.1 Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Corporate Operating expenses $ (12.6 ) $ (9.7 ) $ (39.7 ) $ (25.5 ) Operating loss (12.6 ) (9.7 ) (39.7 ) (25.5 ) Interest expense-corporate (11.7 ) (15.9 ) (35.5 ) (41.1 ) Loss before provision for income taxes (24.3 ) (25.6 ) (75.2 ) (66.6 ) Provision for income taxes (4.5 ) (6.6 ) (32.5 ) (40.8 ) Net loss (28.8 ) (32.2 ) (107.7 ) (107.4 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (2.0 ) (3.1 ) (6.1 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (29.3 ) $ (34.2 ) $ (110.8 ) $ (113.5 ) Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2015 2014 2015 2014 Consolidated Investment management, property services and research fees (includes $8.0, $6.2, $26.7, and $47.0 of related party fees) $ 15.1 $ 12.9 $ 47.0 $ 65.0 Rental 106.6 70.6 295.3 124.4 Hotel 31.3 22.9 78.0 36.9 Sale of real estate 1.6 1.6 3.7 19.0 Loans and other 4.6 5.7 13.4 11.7 Total revenue 159.2 113.7 437.4 257.0 Operating expenses (99.6 ) (79.5 ) (288.3 ) (196.2 ) Depreciation and amortization (44.9 ) (34.7 ) (119.5 ) (67.3 ) Total operating expenses (144.5 ) (114.2 ) (407.8 ) (263.5 ) Income from unconsolidated investments 15.9 12.1 44.1 45.9 Operating income 30.6 11.6 73.7 39.4 Gain on sale of real estate 4.6 — 44.7 — Acquisition-related gain 29.9 28.9 87.2 199.2 Acquisition-related expenses (8.2 ) (5.3 ) (28.3 ) (16.9 ) Interest expense - investment (31.3 ) (13.8 ) (77.9 ) (30.2 ) Interest expense - corporate (11.7 ) (15.9 ) (35.5 ) (41.1 ) Other (4.3 ) (1.9 ) (0.7 ) 1.0 Income before benefit from income taxes 9.6 3.6 63.2 151.4 Provision for income taxes (4.5 ) (6.6 ) (32.5 ) (40.8 ) Net income (loss) 5.1 (3.0 ) 30.7 110.6 Net loss (income) attributable to the noncontrolling interests 10.3 2.8 15.0 (59.9 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (2.0 ) (3.1 ) (6.1 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 14.9 $ (2.2 ) $ 42.6 $ 44.6 (Dollars in millions) September 30, 2015 December 31, 2014 Total Assets Investments $ 7,106.9 $ 6,017.9 Services 60.7 60.2 Corporate 125.1 254.0 Total assets $ 7,292.7 $ 6,332.1

Guarantor and Non-Guarantor F37

Guarantor and Non-Guarantor Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2015
Guarantor and Nonguarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 40.5 $ 27.5 $ 85.8 $ — $ 153.8 Cash held by consolidated investments — — — 387.8 — 387.8 Accounts receivable — — 24.7 31.5 — 56.2 Loan purchases and originations — 77.5 12.2 369.4 (37.8 ) 421.3 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 941.2 4,522.3 — 5,463.5 Unconsolidated investments — 12.3 321.1 166.2 — 499.6 Investments in and advances to consolidated subsidiaries 1,132.1 1,865.9 1,176.2 — (4,174.2 ) — Other assets — 3.6 38.4 268.5 — 310.5 Total assets $ 1,132.1 $ 1,999.8 $ 2,541.3 $ 5,831.5 $ (4,212.0 ) $ 7,292.7 Liabilities and equity Liabilities Accounts payable $ — $ 0.4 $ 2.9 $ 16.6 $ — $ 19.9 Accrued expenses and other liabilities 13.5 164.8 133.6 37.0 — 348.9 Investment debt — — 539.1 2,795.3 (37.8 ) 3,296.6 Senior notes payable — 702.5 — — — 702.5 Total liabilities 13.5 867.7 675.6 2,848.9 (37.8 ) 4,367.9 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,118.6 1,132.1 1,865.7 1,176.9 (4,174.2 ) 1,119.1 Noncontrolling interests — — — 1,805.7 — 1,805.7 Total equity 1,118.6 1,132.1 1,865.7 2,982.6 (4,174.2 ) 2,924.8 Total liabilities and equity $ 1,132.1 $ 1,999.8 $ 2,541.3 $ 5,831.5 $ (4,212.0 ) $ 7,292.7 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 38.2 $ 21.0 $ 115.4 $ — $ 174.6 Cash held by consolidated investments — — — 763.1 — 763.1 Accounts receivable — — 31.5 24.1 — 55.6 Loan purchases and originations — 38.5 20.6 292.1 (37.8 ) 313.4 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 474.5 3,753.6 — 4,228.1 Unconsolidated investments — 9.3 328.7 154.2 — 492.2 Investments in and advances to consolidated subsidiaries 909.8 1,655.0 1,065.6 — (3,630.4 ) — Other assets — 63.7 40.6 200.8 — 305.1 Total assets $ 909.8 $ 1,804.7 $ 1,982.5 $ 5,303.3 $ (3,668.2 ) $ 6,332.1 Liabilities Accounts payable, accrued expense and other liabilities $ 8.7 $ 67.5 $ 79.2 $ 109.5 $ — 264.9 Senior notes payable — 702.4 — — — 702.4 Investment debt — — 248.3 1,985.4 (37.8 ) 2,195.9 Line of credit — 125.0 — — — 125.0 Total liabilities 8.7 894.9 327.5 2,094.9 (37.8 ) 3,288.2 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 901.1 909.8 1,655.0 1,065.6 (3,630.4 ) 901.1 Noncontrolling interests — — — 2,142.8 — 2,142.8 Total equity 901.1 909.8 1,655.0 3,208.4 (3,630.4 ) 3,043.9 Total liabilities and equity $ 909.8 $ 1,804.7 $ 1,982.5 $ 5,303.3 $ (3,668.2 ) $ 6,332.1
Consolidating Statement of Operations	CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services and research fees $ — $ — $ 14.7 $ 0.4 $ — $ 15.1 Rental — — 19.2 87.4 — 106.6 Hotel — — — 31.3 — 31.3 Sale of real estate — — 0.1 1.5 — 1.6 Loan purchases, loan originations and other — — 0.2 4.4 — 4.6 Total revenue — — 34.2 125.0 — 159.2 Operating expenses Commission and marketing — — 1.1 0.1 — 1.2 Rental operating — — 8.0 21.4 — 29.4 Hotel operating — — — 22.7 — 22.7 Cost of real estate sold — — — 1.1 — 1.1 Compensation and related 5.5 17.0 11.0 1.7 — 35.2 General and administrative — 3.6 4.9 1.5 — 10.0 Depreciation and amortization — 0.1 5.7 39.1 — 44.9 Total operating expenses 5.5 20.7 30.7 87.6 — 144.5 Income from unconsolidated subsidiaries — (1.2 ) 20.0 (2.9 ) — 15.9 Income from consolidated subsidiaries 10.6 44.0 (35.0 ) — (19.6 ) — Operating income (loss) 5.1 22.1 (11.5 ) 34.5 (19.6 ) 30.6 Non-operating income (expense) Acquisition-related gains — — 61.6 (31.7 ) — 29.9 Acquisition-related expenses — (0.1 ) (0.4 ) (7.7 ) — (8.2 ) Interest expense-investment — — (4.6 ) (26.7 ) — (31.3 ) Interest expense-corporate — (11.7 ) — — — (11.7 ) Gain on sale of real estate — — — 4.6 — 4.6 Other income / (expense) — 0.4 0.1 (4.8 ) — (4.3 ) Income (loss) before benefit from income taxes 5.1 10.7 45.2 (31.8 ) (19.6 ) 9.6 (Provision for) benefit from income taxes — (0.1 ) (1.2 ) (3.2 ) — (4.5 ) Net income (loss) 5.1 10.6 44.0 (35.0 ) (19.6 ) 5.1 Net (income) loss attributable to the noncontrolling interests — — — 10.3 — 10.3 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 5.1 10.6 44.0 (24.7 ) (19.6 ) 15.4 Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 4.6 $ 10.6 $ 44.0 $ (24.7 ) $ (19.6 ) $ 14.9 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services and research fees $ — $ — $ 44.9 $ 2.1 $ — $ 47.0 Rental — — 44.0 251.3 — 295.3 Hotel — — — 78.0 — 78.0 Sale of real estate — — 0.1 3.6 — 3.7 Loan purchases, loan originations and other — — 1.0 12.4 — 13.4 Total revenue — — 90.0 347.4 — 437.4 Operating expenses Commission and marketing — 1.0 2.7 0.7 — 4.4 Rental operating — — 16.2 62.3 — 78.5 Hotel operating — — — 66.1 — 66.1 Cost of real estate sold — — — 2.6 — 2.6 Compensation and related 19.6 46.9 32.4 6.5 — 105.4 General and administrative — 11.0 12.2 8.1 — 31.3 Depreciation and amortization — 0.5 14.2 104.8 — 119.5 Total operating expenses 19.6 59.4 77.7 251.1 — 407.8 Income from unconsolidated subsidiaries — — 37.6 6.5 — 44.1 Income from consolidated subsidiaries 50.3 148.7 49.0 — (248.0 ) — Operating income (loss) 30.7 89.3 98.9 102.8 (248.0 ) 73.7 Non-operating income (expense) Acquisition-related gains — — 61.6 25.6 — 87.2 Acquisition-related expenses — (0.4 ) (0.6 ) (27.3 ) — (28.3 ) Interest expense-investment — — (10.1 ) (67.8 ) — (77.9 ) Interest expense-corporate — (35.5 ) — — — (35.5 ) Gain on sale of real estate — — — 44.7 — 44.7 Other income / (expense) — 0.3 0.1 (1.1 ) — (0.7 ) Income (loss) before benefit from income taxes 30.7 53.7 149.9 76.9 (248.0 ) 63.2 (Provision for) benefit from income taxes — (3.4 ) (1.2 ) (27.9 ) — (32.5 ) Net income (loss) 30.7 50.3 148.7 49.0 (248.0 ) 30.7 Net (income) loss attributable to the noncontrolling interests — — — 15.0 — 15.0 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 30.7 50.3 148.7 64.0 (248.0 ) 45.7 Preferred dividends and accretion of preferred stock issuance costs (3.1 ) — — — — (3.1 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 27.6 $ 50.3 $ 148.7 $ 64.0 $ (248.0 ) $ 42.6 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services, and research fees $ — $ (0.5 ) $ 14.1 $ (0.7 ) $ — $ 12.9 Rental — — 5.6 65.0 — 70.6 Hotel — — — 22.9 — 22.9 Sale of real estate — — 0.1 1.5 — 1.6 Loan purchases, loan originations and other — 0.1 (2.8 ) 8.4 — 5.7 Total revenue — (0.4 ) 17.0 97.1 — 113.7 Operating expenses Commission and marketing — — 1.6 0.4 — 2.0 Rental operating — — (5.5 ) 26.4 — 20.9 Hotel operating — — — 16.9 — 16.9 Cost of real estate sold — — — 1.1 — 1.1 Compensation and related 5.3 8.8 10.7 2.0 — 26.8 General and administrative — 3.8 7.5 0.5 — 11.8 Depreciation and amortization — 0.2 3.1 31.4 — 34.7 Total operating expenses 5.3 12.8 17.4 78.7 — 114.2 Income from unconsolidated investments, net of depreciation and amortization — 2.1 4.2 5.8 — 12.1 Income from consolidated subsidiaries 2.3 35.7 30.2 — (68.2 ) — Operating income (expense) (3.0 ) 24.6 34.0 24.2 (68.2 ) 11.6 Non-operating income (expense) Acquisition-related gains — — — 28.9 — 28.9 Acquisition-related expense — — (0.1 ) (5.2 ) — (5.3 ) Interest expense-investment — — (3.5 ) (10.3 ) — (13.8 ) Interest expense-corporate — (15.9 ) — — — (15.9 ) Gain (loss) on sale of real estate — — — — — — Other income / (expense) — (0.2 ) — (1.7 ) — (1.9 ) (Loss) income before benefit from income taxes (3.0 ) 8.5 30.4 35.9 (68.2 ) 3.6 (Provision for) benefit from income taxes — (6.1 ) 5.1 (5.6 ) — (6.6 ) Net (loss) income (3.0 ) 2.4 35.5 30.3 (68.2 ) (3.0 ) Net income attributable to the noncontrolling interests — — — 2.8 — 2.8 Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. (3.0 ) 2.4 35.5 33.1 (68.2 ) (0.2 ) Preferred dividends and accretion of preferred stock issuance costs (2.0 ) — — — — (2.0 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (5.0 ) $ 2.4 $ 35.5 $ 33.1 $ (68.2 ) $ (2.2 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services, and research fees $ — $ — $ 62.6 $ 2.4 $ — $ 65.0 Rental — — 12.0 112.4 — 124.4 Hotel — — — 36.9 — 36.9 Sale of real estate — — 0.7 18.3 — 19.0 Loan purchases, loan originations and other — 0.2 1.5 10.0 — 11.7 Total revenue — 0.2 76.8 180.0 — 257.0 Operating expenses Commission and marketing — — 3.0 0.8 — 3.8 Rental operating — — (3.1 ) 40.9 — 37.8 Hotel operating — — — 32.1 — 32.1 Cost of real estate sold — — 0.7 13.9 — 14.6 Compensation and related 8.7 39.0 27.0 4.9 — 79.6 General and administrative — 9.4 11.5 7.4 — 28.3 Depreciation and amortization — 0.7 7.9 58.7 — 67.3 Total operating expenses 8.7 49.1 47.0 158.7 — 263.5 Income from unconsolidated investments, net of depreciation and amortization — 3.3 35.1 7.5 — 45.9 Income from consolidated subsidiaries 119.3 245.2 183.1 — (547.6 ) — Operating income (expense) 110.6 199.6 248.0 28.8 (547.6 ) 39.4 Non-operating income (expense) Acquisition-related gains — (7.0 ) 3.7 202.5 — 199.2 Acquisition-related expense — — (1.7 ) (15.2 ) — (16.9 ) Interest expense-investment — — (3.5 ) (26.7 ) — (30.2 ) Interest expense-corporate — (41.1 ) — — — (41.1 ) Other income/(expense) — — 1.5 (0.5 ) — 1.0 (Loss) income before benefit from income taxes 110.6 151.5 248.0 188.9 (547.6 ) 151.4 (Provision for) benefit from income taxes — (32.2 ) (3.0 ) (5.6 ) — (40.8 ) Net (loss) income 110.6 119.3 245.0 183.3 (547.6 ) 110.6 Net income attributable to the noncontrolling interests — — — (59.9 ) — (59.9 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. 110.6 119.3 245.0 123.4 (547.6 ) 50.7 Preferred dividends and accretion of preferred stock issuance costs (6.1 ) — — — — (6.1 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 104.5 $ 119.3 $ 245.0 $ 123.4 $ (547.6 ) $ 44.6
Consolidated Statement of Comprehensive Income	CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 5.1 $ 10.6 $ 44.0 $ (35.0 ) $ (19.6 ) $ 5.1 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (51.8 ) (51.8 ) (1.0 ) (138.3 ) 191.1 (51.8 ) Amounts reclassified out of AOCI during the period (0.3 ) (0.3 ) (0.3 ) — 0.6 (0.3 ) Unrealized currency derivative contracts gain (loss) (8.3 ) (8.3 ) 5.8 (14.1 ) 16.6 (8.3 ) Total other comprehensive (loss) income for the period $ (60.4 ) $ (60.4 ) $ 4.5 $ (152.4 ) $ 208.3 $ (60.4 ) Comprehensive (loss) income $ (55.3 ) $ (49.8 ) $ 48.5 $ (187.4 ) $ 188.7 $ (55.3 ) Comprehensive loss attributable to noncontrolling interests — — — 67.9 — 67.9 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (55.3 ) $ (49.8 ) $ 48.5 $ (119.5 ) $ 188.7 $ 12.6 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ (3.0 ) $ 2.4 $ 35.5 $ 30.3 $ (68.2 ) $ (3.0 ) Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains (89.0 ) (89.0 ) (21.4 ) (12.6 ) 123.0 (89.0 ) Unrealized gain on marketable securities (1.1 ) (1.1 ) — — 1.1 (1.1 ) Amounts reclassified out of AOCI during the period — — 9.5 (9.5 ) — — Unrealized currency derivative contracts (loss) gain 20.1 20.1 6.5 11.3 (37.9 ) 20.1 Total other comprehensive income for the period $ (70.0 ) $ (70.0 ) $ (5.4 ) $ (10.8 ) $ 86.2 $ (70.0 ) Comprehensive (loss) income $ (73.0 ) $ (67.6 ) $ 30.1 $ 19.5 $ 18.0 $ (73.0 ) Comprehensive (income) loss attributable to noncontrolling interests — — — 58.0 — 58.0 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (73.0 ) $ (67.6 ) $ 30.1 $ 77.5 $ 18.0 $ (15.0 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 30.7 $ 50.3 $ 148.7 $ 49.0 $ (248.0 ) $ 30.7 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (88.0 ) (88.0 ) (9.4 ) (23.8 ) 121.2 (88.0 ) Unrealized gain on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Amounts reclassified out of AOCI during the period 9.7 9.7 (0.6 ) 10.3 (19.4 ) 9.7 Unrealized currency derivative contracts gain (loss) 6.7 6.7 8.3 (1.6 ) (13.4 ) 6.7 Total other comprehensive (loss) income for the period $ (71.5 ) $ (71.5 ) $ (1.7 ) $ (15.1 ) $ 88.3 $ (71.5 ) Comprehensive (loss) income $ (40.8 ) $ (21.2 ) $ 147.0 $ 33.9 $ (159.7 ) $ (40.8 ) Comprehensive loss attributable to noncontrolling interests — — — 78.3 78.3 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (40.8 ) $ (21.2 ) $ 147.0 $ 112.2 $ (159.7 ) $ 37.5 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ 110.6 $ 119.3 $ 245.0 $ 183.3 $ (547.6 ) $ 110.6 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains (67.1 ) (67.1 ) 2.5 (16.5 ) 81.1 (67.1 ) Unrealized gain on marketable securities (1.1 ) (1.1 ) — — 1.1 (1.1 ) Amounts reclassified out of AOCI during the period (7.1 ) (7.1 ) 1.2 (8.3 ) 14.2 (7.1 ) Unrealized currency derivative contracts (loss) gain 16.5 16.5 5.3 10.1 (31.9 ) 16.5 Total other comprehensive income for the period $ (58.8 ) $ (58.8 ) $ 9.0 $ (14.7 ) $ 64.5 $ (58.8 ) Comprehensive (loss) income $ 51.8 $ 60.5 $ 254.0 $ 168.6 $ (483.1 ) $ 51.8 Comprehensive (income) loss attributable to noncontrolling interests — — — (23.5 ) — (23.5 ) Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ 51.8 $ 60.5 $ 254.0 $ 145.1 $ (483.1 ) $ 28.3
Condensed Consolidated Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided by (used in) operating activities $ 4.8 $ 41.2 $ 103.9 $ (35.7 ) $ 114.2 Cash flows from investing activities: Additions to loans — (39.0 ) — (194.9 ) (233.9 ) Collections of loans — — 8.7 6.6 15.3 Net proceeds from sale of real estate — — — 523.4 523.4 Proceeds from settlement of foreign forward contracts — 17.9 — 18.3 36.2 Purchases of foreign currency options — (3.7 ) — (1.5 ) (5.2 ) Purchases of and additions to real estate — — (186.3 ) (1,347.7 ) (1,534.0 ) Proceeds from sale of marketable securities — — 6.2 — 6.2 Distributions from unconsolidated investments — — 44.5 47.5 92.0 Contributions to unconsolidated investments — (1.5 ) (67.4 ) (86.3 ) (155.2 ) (Investments in) distributions from consolidated subsidiaries, net (170.7 ) 113.1 18.9 38.7 — Net cash (used in) provided by investing activities (170.7 ) 86.8 (175.4 ) (995.9 ) (1,255.2 ) Cash flows from financing activities: Borrowings under line of credit — 75.0 — — 75.0 Repayment of line of credit — (200.0 ) — — (200.0 ) Borrowings under investment debt — — 84.0 1,548.2 1,632.2 Repayment of investment debt — — (5.1 ) (615.1 ) (620.2 ) Debt issue costs — (0.7 ) (0.9 ) (13.4 ) (15.0 ) Issuance of common stock 215.0 — — — 215.0 Repurchase of common stock (11.4 ) — — — (11.4 ) Dividends paid (37.7 ) — — — (37.7 ) Acquisition of KWE shares from noncontrolling interest holders — — — (59.5 ) (59.5 ) Contributions from noncontrolling interests, excluding KWE — — — 6.5 6.5 Distributions to noncontrolling interests — — — (205.8 ) (205.8 ) Net cash provided by financing activities 165.9 (125.7 ) 78.0 660.9 779.1 Effect of currency exchange rate changes on cash and cash equivalents — — — (34.2 ) (34.2 ) Net change in cash and cash equivalents — 2.3 6.5 (404.9 ) (396.1 ) Cash and cash equivalents, beginning of year — 38.2 21.0 878.5 937.7 Cash and cash equivalents, end of period $ — $ 40.5 $ 27.5 $ 473.6 $ 541.6 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2014 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided (used in) by operating activities $ (0.1 ) $ (25.7 ) $ 73.7 $ 37.8 $ 85.7 Cash flows from investing activities: Additions to loans — — (5.8 ) (470.6 ) (476.4 ) Collections of loans — — 15.1 80.8 95.9 Net proceeds from sale of real estate — — — 16.3 16.3 Purchases of and additions to real estate — (0.6 ) (71.6 ) (1,466.0 ) (1,538.2 ) Proceeds from settlement of foreign forward contracts — — — 7.5 7.5 Purchases of foreign currency options — — — (2.2 ) (2.2 ) Distributions from unconsolidated investments — 0.3 51.6 47.4 99.3 Contributions to unconsolidated investments — (2.0 ) (47.9 ) (89.7 ) (139.6 ) Investment in marketable securities — — (11.5 ) — (11.5 ) (Investments in) distributions from consolidated subsidiaries, net (159.3 ) (198.4 ) (65.0 ) 422.7 — Net cash (used in) provided by investing activities (159.3 ) (200.7 ) (135.1 ) (1,453.8 ) (1,948.9 ) Cash flows from financing activities: Borrowings under line of credit — 90.0 — — 90.0 Repayment of junior subordinated debt — (40.0 ) — — (40.0 ) Repayment of lines of credit — (90.0 ) — — (90.0 ) Borrowings under investment debt — — 31.5 793.6 825.1 Borrowings under senior notes payable — 297.2 — — 297.2 Debt issue costs — (7.8 ) (0.6 ) (20.1 ) (28.5 ) Repayment of investment debt — — (0.1 ) (32.1 ) (32.2 ) Issuance of common stock 190.6 — — — 190.6 Dividends paid (28.4 ) — — — (28.4 ) Repurchase of common stock (2.9 ) — — — (2.9 ) Proceeds from issuance of KWE shares — — — 1,351.1 1,351.1 Restricted cash — — — (42.6 ) (42.6 ) Acquisition of KWE shares from noncontrolling interest holders — — — (16.8 ) (16.8 ) Contributions from noncontrolling interests, excluding KWE — — — 12.9 12.9 Distributions to noncontrolling interests — — — (24.3 ) (24.3 ) Net cash provided by (used in) financing activities 159.3 249.4 30.8 2,021.7 2,461.2 Effect of currency exchange rate changes on cash and cash equivalents — — — 10.8 10.8 Net change in cash and cash equivalents (0.1 ) 23.0 (30.6 ) 616.5 608.8 Cash and cash equivalents, beginning of period — 48.2 77.2 52.8 178.2 Cash and cash equivalents, end of period $ (0.1 ) $ 71.2 $ 46.6 $ 669.3 $ 787.0

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions	Sep. 30, 2015USD ($)loan_poolProperty	Dec. 31, 2014USD ($)
Noncontrolling Interest [Line Items]
Assets	$ 7,292.7	$ 6,332.1
Properties, Loans and Servicing Platform in Europe [Member] | Europe [Member]
Noncontrolling Interest [Line Items]
Assets	882.7
KWE [Member]
Noncontrolling Interest [Line Items]
Ordinary shares, initial public offering share subscription, cash	330.7
Ordinary shares, initial public offering share subscription, contribution of assets	$ 58.3
Ownership percentage by parent	17.70%
Properties, Loans and Servicing Platform in Europe [Member]
Noncontrolling Interest [Line Items]
Number of real estate investment properties in Europe | Property	18
Number of loan pools | loan_pool	4
Properties, Loans and Servicing Platform in Europe [Member] | Europe [Member]
Noncontrolling Interest [Line Items]
Ownership percentage by parent	57.60%
Equity in consolidated investments	$ 248

Summary of Significant Accoun39

Summary of Significant Accounting Policies and Adoption of New Accounting Pronouncements (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Accrued performance fees	$ 11.9	$ 15.8
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Noncontrolling interests	$ 1,805.7	$ 2,142.8
Minimum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of investments hedged	50.00%
Maximum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of investments hedged	100.00%
KWE [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Noncontrolling interests	$ 1,600
Percentage of investments hedged	84.40%

Loan Purchases and Originatio40

Loan Purchases and Originations - Additional Information (Details) $ in Millions	3 Months Ended					9 Months Ended
	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)Loanhotel	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Business Acquisition [Line Items]
Loan purchases and originations	$ 421.3			$ 313.4		$ 421.3
Loans acquired						233.9	$ 476.4
Proceeds to resolve loan receivable	5.7
Interest income on loans	4.6				$ 5.7	13.4	$ 11.7
Notes Receivable [Member]
Business Acquisition [Line Items]
Loan purchases and originations	$ 421.3			313.4		$ 421.3
Resort [Member] | Notes Receivable [Member]
Business Acquisition [Line Items]
Loans acquired		$ 38.7
KWE [Member] | Retail Center in Cavan, Ireland [Member] | Notes Receivable [Member]
Business Acquisition [Line Items]
Loan ownership conversion percentage	100.00%					100.00%
Loans acquired						$ 11.7
KWE [Member] | Office Building Acquired in Dublin, Ireland [Member] | Notes Receivable [Member]
Business Acquisition [Line Items]
Loan ownership conversion percentage			100.00%
KWE [Member] | Office Building [Member] | Notes Receivable [Member]
Business Acquisition [Line Items]
Loans acquired				$ 53
KWE [Member] | Hotel [Member] | Notes Receivable [Member]
Business Acquisition [Line Items]
Loans acquired			$ 95.2
Number of loans acquired | Loan			8
Number of hotels securing loans | hotel			8
Nonperforming Financial Instruments [Member] | KWE [Member] | Residential Property [Member] | Notes Receivable [Member]
Business Acquisition [Line Items]
Nonperforming loan acquired		$ 108.4

Real Estate and In-Place Leas41

Real Estate and In-Place Lease Value - Schedule of Investments in Consolidated Properties (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Real Estate [Abstract]
Land	$ 1,394.1	$ 1,046.9
Buildings	3,706	2,945.3
Building improvements	173.2	75.1
In-place lease value	408.9	282.6
Real estate, gross	5,682.2	4,349.9
Less accumulated depreciation and amortization	(218.7)	(121.8)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	$ 5,463.5	$ 4,228.1

Real Estate and In-Place Leas42

Real Estate and In-Place Lease Value - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Property	Sep. 30, 2014USD ($)
Business Acquisition [Line Items]
Acquisition-related gains	$ 29.9	$ 28.9	$ 87.2	$ 199.2
Leases, Acquired-in-Place [Member]
Business Acquisition [Line Items]
Acquired in-place lease estimated useful life			7 years 9 months 18 days
Maximum [Member] | Building and Building Improvements [Member]
Business Acquisition [Line Items]
Buildings and building improvements estimated lives			40 years
Multifamily [Member] | Japan [Member]
Business Acquisition [Line Items]
Net gain on sale of properties			$ 33.5
Commercial [Member] | KWE [Member]
Business Acquisition [Line Items]
Net gain on sale of properties			$ 11.3
Number of commercial real estate properties sold | Property			11

Real Estate and In-Place Leas43

Real Estate and In-Place Lease Value - Schedule of Acquisitions (Details) ft² in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)apartment_unit	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)ft²apartment_unitsupermarketdevelopment_projectProperty	Sep. 30, 2014USD ($)
Business Acquisition [Line Items]
Land	$ 567.3		$ 567.3
Building	1,150.4		1,150.4
Acquired in place lease values	159.1		159.1
Investment debt	843.1		843.1
NCI	690.1		690.1
KWH Shareholders' Equity	343.6		343.6
Acquisition-related gains	29.9	$ 28.9	$ 87.2	$ 199.2
Commercial Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Square feet of property acquired | ft²			584
Acquisition-related gains			$ 76
Residential Acquired in Spain [Member]
Business Acquisition [Line Items]
Land	0		0
Building	43.9		43.9
Acquired in place lease values	0		0
Investment debt	0		0
NCI	36.8		36.8
KWH Shareholders' Equity	7.1		$ 7.1
Number of development projects acquired | development_project			2
Residential Acquired in Spain 2 [Member]
Business Acquisition [Line Items]
Land	23.6		$ 23.6
Building	66		66
Acquired in place lease values	4.7		4.7
Investment debt	0		0
NCI	77.6		77.6
KWH Shareholders' Equity	16.7		$ 16.7
Number of supermarkets acquired | supermarket			16
KWE [Member] | Commercial Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Land	141.6		$ 141.6
Building	358.5		358.5
Acquired in place lease values	20.1		20.1
Investment debt	313.8		313.8
NCI	6.4		6.4
KWH Shareholders' Equity	200		200
KWE [Member] | Commercial Acquired in United Kingdom [Member]
Business Acquisition [Line Items]
Land	276.1		276.1
Building	421.7		421.7
Acquired in place lease values	76.6		76.6
Investment debt	529.3		529.3
NCI	205.7		205.7
KWH Shareholders' Equity	39.4		$ 39.4
Number of properties acquired | Property			176
KWE [Member] | Commercial Acquired in United Kingdom 2 [Member]
Business Acquisition [Line Items]
Land	104.4		$ 104.4
Building	178.7		178.7
Acquired in place lease values	45.4		45.4
Investment debt	0		0
NCI	270.4		270.4
KWH Shareholders' Equity	58.1		$ 58.1
Number of properties acquired | Property			9
KWE [Member] | Commercial Acquired in Ireland [Member]
Business Acquisition [Line Items]
Land	21.6		$ 21.6
Building	81.6		81.6
Acquired in place lease values	12.3		12.3
Investment debt	0		0
NCI	93.2		93.2
KWH Shareholders' Equity	$ 22.3		$ 22.3
Number of properties acquired | Property			3
Square feet of property acquired | ft²			149
Acquisition-related gains			$ 11.2
KWE [Member]
Business Acquisition [Line Items]
Ownership percentage by parent	17.70%		17.70%
Multifamily [Member] | Commercial Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Number of apartment units acquired | apartment_unit	1,676		1,676
Multifamily and Commercial [Member] | Western United States [Member]
Business Acquisition [Line Items]
Acquisition-related gains			$ 87.2

Real Estate and In-Place Leas44

Real Estate and In-Place Lease Value - Schedule of Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Real Estate [Abstract]
Pro forma revenues	$ 479.9	$ 163.5	$ 363.4	$ 149.3
Pro forma net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 45.1	$ 14.6	$ 52.8	$ 0.5
Pro forma net income (loss) per share:
Basic (in dollars per share)	$ 0.13	$ 0	$ 0.43	$ 0.50
Diluted (in dollars per share)	$ 0.13	$ 0	$ 0.42	$ 0.49

Unconsolidated Investments - Sc

Unconsolidated Investments - Schedule of Unconsolidated Investments (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]
Investments in joint ventures	$ 498.3	$ 435.8
Investments in loan pool participations	1.3	56.4
Total	$ 499.6	$ 492.2

Unconsolidated Investments - Ad

Unconsolidated Investments - Additional Information (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2015USD ($)limited_partnershipentity	Sep. 30, 2015USD ($)JointVenture	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures		$ 498.3		$ 435.8
Payments to acquire equity method investments		155.2	$ 139.6
Equity method investment distribution received		50.8
Contributions to acquire interest in joint venture		88.2
Contributions to existing joint ventures		67
Proceeds from equity method investments		$ 142.8
Number of joint ventures with unfulfilled capital commitments | JointVenture		4
Guarantor obligations, maximum exposure, percentage of property level debt		1.00%
Investments in loan pool participations		$ 1.3		$ 56.4
Performance Guarantee [Member] | Loans Payable [Member]
Schedule of Equity Method Investments [Line Items]
Guarantor obligations, maximum exposure		59.9
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments		38.9
Vintage Housing Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	61.00%
Payments to acquire equity method investments	$ 78.7	78.7
Number of syndicated limited partnerships | limited_partnership	30
Number of non-affiliated entities | entity	1
Gain on fair value through equity income		12.9
Equity method investment distribution received		$ 5.2
Vintage Housing Holdings [Member] | Non-Affiliated Entity [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	39.00%
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		5.00%
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		50.00%

Unconsolidated Investments - 47

Unconsolidated Investments - Schedule of Joint Ventures (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 498.3	$ 435.8
Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	437.3	375.4
Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	6.2
United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	25.4	31.5
Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	29.4	28.9
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	175.6	134.5
Multifamily [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	169.4	134.5
Multifamily [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	6.2
Multifamily [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Multifamily [Member] | Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	85.9	141.8
Commercial [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	60.5	110.3
Commercial [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0
Commercial [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	25.4	31.5
Commercial [Member] | Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Loan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	12.5	50.3
Loan [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	12.5	50.3
Loan [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0
Loan [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Loan [Member] | Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Residential [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	182.6	71
Residential [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	182.6	71
Residential [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0
Residential [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Residential [Member] | Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Other [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	41.7	38.2
Other [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	12.3	9.3
Other [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0
Other [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Other [Member] | Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 29.4	$ 28.9

Unconsolidated Investments - Ca

Unconsolidated Investments - Cash Distributions by Investment Type and Location (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Schedule of Equity Method Investments [Line Items]
Operating	$ 50.8
Investing	92	$ 99.3
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	22.8
Investing	5.2
Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	11.2
Investing	33.8
Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating	8.2
Investing	50
Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	8.6
Investing	3
Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Operating	40.2
Investing	42.5
Western United States [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	22.7
Investing	5.2
Western United States [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	10
Investing	$ 32
Western United States [Member] | Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating
Investing	$ 2.3
Western United States [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	7.5
Investing	3
Japan [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0.1
Investing	0
Japan [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0.1
Investing	0
Japan [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	$ 0
Japan [Member] | Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating
Investing
Japan [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	$ 0
Investing	0
United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Operating	7.6
Investing	43.3
United Kingdom [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
United Kingdom [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	1.2
Investing	1.8
United Kingdom [Member] | Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating	6.4
Investing	41.5
United Kingdom [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
Ireland [Member]
Schedule of Equity Method Investments [Line Items]
Operating	1.8
Investing	6.2
Ireland [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
Ireland [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
Ireland [Member] | Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating	1.8
Investing	6.2
Ireland [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
Spain [Member]
Schedule of Equity Method Investments [Line Items]
Operating	1.1
Investing	0
Spain [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
Spain [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	$ 0
Spain [Member] | Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating
Investing
Spain [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	$ 1.1
Investing

Unconsolidated Investments - 49

Unconsolidated Investments - Schedule of Interest Income and Foreign Currency Gain (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]
Income from unconsolidated investments - loan pools	$ (1.8)	$ 2.3	$ 4.3	$ 7
Foreign currency translation loss	(0.7)	(2.9)	(1)	(2.5)
Total	$ (2.5)	$ (0.6)	$ 3.3	$ 4.5

Fair Value Measurements and t50

Fair Value Measurements and the Fair Value Option - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	$ 206.1	$ 85.9
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0.3	6.5
Unconsolidated investments	206.1	85.9
Assets (liabilities), fair value disclosure	223.5	123
Recurring [Member] | Currency Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	20	23.9
Recurring [Member] | Currency Option Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	(2.9)	6.7
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0.3	6.5
Unconsolidated investments	0	0
Assets (liabilities), fair value disclosure	0.3	6.5
Recurring [Member] | Level 1 [Member] | Currency Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	0	0
Recurring [Member] | Level 1 [Member] | Currency Option Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	0	0
Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Unconsolidated investments	0	0
Assets (liabilities), fair value disclosure	17.1	30.6
Recurring [Member] | Level 2 [Member] | Currency Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	20	23.9
Recurring [Member] | Level 2 [Member] | Currency Option Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	(2.9)	6.7
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Unconsolidated investments	206.1	85.9
Assets (liabilities), fair value disclosure	206.1	85.9
Recurring [Member] | Level 3 [Member] | Currency Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	0	0
Recurring [Member] | Level 3 [Member] | Currency Option Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	$ 0	$ 0

Fair Value Measurements and t51

Fair Value Measurements and the Fair Value Option - Marketable Securities, Narrative (Details) - KWE [Member] $ / shares in Units, shares in Millions, $ in Millions	Sep. 30, 2015USD ($)$ / sharesshares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares in KWE (in shares) | shares	24
Market value of investment	$ 413.5
Investment cost basis	$ 401.5
Share price | $ / shares	$ 17.22
Percentage of investments hedged	84.40%
Fair Value	$ 12.4

Fair Value Measurements and t52

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments, Narrative (Details) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)Investment	Dec. 31, 2014USD ($)
Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Unfunded capital commitments	$ 38.9
Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value option		$ 61
Funds [Member] | Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Funds	33.3	24.9
Unfunded capital commitments	$ 38.1
Funds [Member] | Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Number of unconsolidated investments with fair value option election | Investment	5
Fair value option	$ 172.8	$ 61

Fair Value Measurements and t53

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
FV Option		$ 61
Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total	$ 206.1	$ 85.9

Fair Value Measurements and t54

Fair Value Measurements and the Fair Value Option - Schedule of Changes in Level 3 Investments (Details) - Equity Method Investments [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 186.6	$ 78.5	$ 85.9	$ 81.1
Unrealized gains	5.9	0	24.1	0
Unrealized losses	0	0	(0.1)	0
Realized Gains	5.2	0	5.2	0
Contributions	16.5	16.9	107.7	19.3
Distributions	(8.1)	(5)	(16.4)	(10)
Other	0	0	(0.3)	0
Ending balance	$ 206.1	$ 90.4	$ 206.1	$ 90.4

Fair Value Measurements and t55

Fair Value Measurements and the Fair Value Option - Schedule of Significant Inputs (Details)	9 Months Ended
	Sep. 30, 2015
Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Entity credit risk percentage	1.00%
Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Entity credit risk percentage	4.87%
Office [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	5.25%
Discount Rates	7.00%
Office [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	8.25%
Discount Rates	11.00%
Retail [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	6.70%
Discount Rates	8.00%
Retail [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	7.00%
Discount Rates	9.00%
Hotel [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	6.50%
Discount Rates	7.50%
Multifamily [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	4.40%
Discount Rates	4.90%
Multifamily [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	7.00%
Discount Rates	10.75%
Loan [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rates	12.00%
Loan [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rates	25.50%
Land and condominium units [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rates	8.00%
Land and condominium units [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rates	9.00%

Fair Value Measurements and t56

Fair Value Measurements and the Fair Value Option - Derivatives Financial Instruments (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015GBP (£)	Sep. 30, 2015EUR (€)	Sep. 30, 2015JPY (¥)
Derivative [Line Items]
Gain (loss) on fair value hedges recognized in earnings	$ 5.7
Gain (Loss) on Derivative Instruments [Member]
Derivative [Line Items]
Gain (loss) on derivative contracts that were unwound	3.2
Other Comprehensive Income (Loss) [Member]
Derivative [Line Items]
Unrealized gains recognized through OCI on derivative contracts settled during the period	10.6
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Fair Value	17.1
Designated as Hedging Instrument [Member] | Other Comprehensive Income (Loss) [Member]
Derivative [Line Items]
Change in Unrealized Gains (Losses)	3.2
Japanese Multifamily Portfolio and Resolutions of European Loan Pool Investments [Member] | Gain (Loss) on Derivative Instruments [Member]
Derivative [Line Items]
Gain (loss) on derivative contracts that were unwound	$ 15.1
Euro Member Countries, Euro [Member] | Foreign Exchange Forward, Trade Date 6/25/2014 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | €			€ 20,000,000,000,000
Forward Rate/Strike Price	1.4471	1.4471	1.4471	1.4471
Fair Value	$ 5.2
Change in Unrealized Gains (Losses)	2.5
Euro Member Countries, Euro [Member] | Foreign Exchange Option, Trade Date 3/10/2015-3/19/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | €			€ 130,000,000,000,000
Fair Value	(2.1)
Change in Unrealized Gains (Losses)	$ (2.1)
Euro Member Countries, Euro [Member] | Minimum [Member] | Foreign Exchange Option, Trade Date 3/10/2015-3/19/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	1.0700	1.0700	1.0700	1.0700
Euro Member Countries, Euro [Member] | Maximum [Member] | Foreign Exchange Option, Trade Date 3/10/2015-3/19/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	1.0960	1.0960	1.0960	1.0960
United Kingdom, Pounds [Member] | Foreign Exchange Forward, Trade Date 2/25/2014-8/10/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | £		£ 103,000,000,000,000
Fair Value	$ 10.5
Change in Unrealized Gains (Losses)	6.7
United Kingdom, Pounds [Member] | Foreign Exchange Option, Trade Date 1/7/2015-8/17/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | £		£ 100,200,000,000,000
Fair Value	1.9
Change in Unrealized Gains (Losses)	$ 0.7
United Kingdom, Pounds [Member] | Minimum [Member] | Foreign Exchange Forward, Trade Date 2/25/2014-8/10/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	1.5578	1.5578	1.5578	1.5578
United Kingdom, Pounds [Member] | Minimum [Member] | Foreign Exchange Option, Trade Date 1/7/2015-8/17/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	1.4235	1.4235	1.4235	1.4235
United Kingdom, Pounds [Member] | Maximum [Member] | Foreign Exchange Forward, Trade Date 2/25/2014-8/10/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	1.6371	1.6371	1.6371	1.6371
United Kingdom, Pounds [Member] | Maximum [Member] | Foreign Exchange Option, Trade Date 1/7/2015-8/17/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	1.5434	1.5434	1.5434	1.5434
Japan, Yen [Member] | Foreign Exchange Forward, Trade Date 6/23/2015-8/21/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | ¥				¥ 649,000,000,000,000
Fair Value	$ (0.1)
Change in Unrealized Gains (Losses)	$ (0.1)
Japan, Yen [Member] | Minimum [Member] | Foreign Exchange Forward, Trade Date 6/23/2015-8/21/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	111.26	111.26	111.26	111.26
Japan, Yen [Member] | Maximum [Member] | Foreign Exchange Forward, Trade Date 6/23/2015-8/21/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	121.51	121.51	121.51	121.51
KWE [Member] | Euro Member Countries, Euro [Member] | Foreign Exchange Forward, Trade Date 6/18/2014-6/29/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | €			€ 347,477,119,000,000
Fair Value	$ 4.4
Change in Unrealized Gains (Losses)	(1.8)
KWE [Member] | Euro Member Countries, Euro [Member] | Foreign Exchange Option, Trade Date 3/13/2015-6/3/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | €			€ 175,000,000,000,000
Fair Value	(2.7)
Change in Unrealized Gains (Losses)	$ (2.7)
KWE [Member] | Euro Member Countries, Euro [Member] | Minimum [Member] | Foreign Exchange Forward, Trade Date 6/18/2014-6/29/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	0.7110	0.7110	0.7110	0.7110
KWE [Member] | Euro Member Countries, Euro [Member] | Minimum [Member] | Foreign Exchange Option, Trade Date 3/13/2015-6/3/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	0.7070	0.7070	0.7070	0.7070
KWE [Member] | Euro Member Countries, Euro [Member] | Maximum [Member] | Foreign Exchange Forward, Trade Date 6/18/2014-6/29/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	0.8621	0.8621	0.8621	0.8621
KWE [Member] | Euro Member Countries, Euro [Member] | Maximum [Member] | Foreign Exchange Option, Trade Date 3/13/2015-6/3/2015 [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Forward Rate/Strike Price	0.7500	0.7500	0.7500	0.7500

Fair Value Measurements and t57

Fair Value Measurements and the Fair Value Option - Fair Value of Financial Instruments, Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	$ 3,979.6	$ 3,044.8
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	$ 3,999.1	$ 3,023.3

Other Assets (Details)

Other Assets (Details) - USD ($) shares in Millions, $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Other Assets [Abstract]
Loan fees, net of accumulated amortization of $10.7 and $5.0 at September 30, 2015 and December 31, 2014, respectively	$ 44.1	$ 36
Deferred tax asset, net	36.1	27.6
Other, net of accumulated amortization of $2.7 and $1.8 at September 30, 2015 and December 31, 2014, respectively	33.5	25.8
Hedge Assets	32.7	30.6
Goodwill	23.9	23.9
Prepaid expenses	15	11.2
Deposits	3.5	49.9
Marketable securities	0.3	6.5
Other Assets	310.5	305.1
Accumulated amortization, loan fees	10.7	5
Accumulated amortization, other	2.7	1.8
Investments in and advances to consolidated subsidiaries	$ 0	0
KWE [Member]
Other Assets [Abstract]
Shares in KWE (in shares)	24
KWE [Member] | Marketable Securities [Member]
Other Assets [Abstract]
Investments in and advances to consolidated subsidiaries	$ 413.5
Furniture and Fixtures [Member]
Other Assets [Abstract]
Office furniture and equipment net of accumulated depreciation of $9.1 and $5.7 at September 30, 2015 and December 31, 2014, respectively	20.5	22
Accumulated amortization, office furniture and equipment	9.1	5.7
Above Market Leases [Member]
Other Assets [Abstract]
Above-market leases, net of accumulated amortization of $16.3 and $6.7 at September 30, 2015 and December 31, 2014, respectively	100.9	71.6
Accumulated amortization, above-market leases	$ 16.3	$ 6.7

Investment Debt (Details)

Investment Debt (Details) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2014USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2015USD ($)LoanInvestmentacquisition	Sep. 30, 2014USD ($)	Jun. 30, 2015GBP (£)	Dec. 31, 2014USD ($)	Aug. 31, 2014GBP (£)
Debt Instrument [Line Items]
Borrowings under line of credit			$ 75	$ 90
Repayments of lines of credit			$ 200	$ 90
Number of acquisitions partially financed with mortgages | acquisition			5
Number of investments partially financed with mortgages | Investment			5
Number of mortgages consolidated | Loan			3
Number of investments with existing mortgages refinanced | Investment			11
KWE [Member]
Debt Instrument [Line Items]
Ownership percentage by parent			17.70%
Japan [Member] | Multifamily [Member]
Debt Instrument [Line Items]
Prepayment penalty		$ 7.1
Mortgage Loans Payable [Member]
Debt Instrument [Line Items]
Long-term debt			$ 2,849.7			$ 2,195.9
Debt unamortized premium			$ 1.9			$ 15.4
Weighted average interest rate of debt			3.16%			3.03%
Percent of debt with fixed rate			63.00%			43.00%
Percent of debt with floating interest rate and interest caps			19.00%			38.00%
Percent of debt with floating interest rate, without interest caps			18.00%			19.00%
Investment Debt [Member]
Debt Instrument [Line Items]
Long-term debt			$ 3,296.6			$ 2,195.9
Debt unamortized premium			1.9
Mortgage Loans Secured by Multi-Family Properties [Member] | Mortgage Loans Payable [Member] | Western United States [Member]
Debt Instrument [Line Items]
Long-term debt			824.7			565.5
Mortgage Loans Secured by Multi-Family Properties [Member] | Mortgage Loans Payable [Member] | Japan [Member]
Debt Instrument [Line Items]
Long-term debt			0			242.9
Mortgage Loans Secured by Multi-Family Properties [Member] | Mortgage Loans Payable [Member] | Ireland [Member]
Debt Instrument [Line Items]
Long-term debt			192.6			133.6
Mortgage Loans Secured by Multi-Family Properties [Member] | Mortgage Loans Payable [Member] | Ireland [Member] | KWE [Member]
Debt Instrument [Line Items]
Long-term debt			53			40.3
Mortgage Loans Secured by Commercial Buildings [Member] | Mortgage Loans Payable [Member] | Western United States [Member]
Debt Instrument [Line Items]
Long-term debt			256.6			131
Mortgage Loans Secured by Commercial Buildings [Member] | Mortgage Loans Payable [Member] | Japan [Member]
Debt Instrument [Line Items]
Long-term debt			2.1			2.1
Mortgage Loans Secured by Commercial Buildings [Member] | Mortgage Loans Payable [Member] | Ireland [Member]
Debt Instrument [Line Items]
Long-term debt			391.5			412.5
Mortgage Loans Secured by Commercial Buildings [Member] | Mortgage Loans Payable [Member] | Ireland [Member] | KWE [Member]
Debt Instrument [Line Items]
Long-term debt			295.1			323.8
Mortgage Loans Secured by Commercial Buildings [Member] | Mortgage Loans Payable [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Long-term debt			1,054.7			569.2
Mortgage Loans Secured by Commercial Buildings [Member] | Mortgage Loans Payable [Member] | United Kingdom [Member] | KWE [Member]
Debt Instrument [Line Items]
Long-term debt			969.4			483
Mortgage Loans Secured by Hotel [Member] | Mortgage Loans Payable [Member] | Western United States [Member]
Debt Instrument [Line Items]
Long-term debt			39.5			37.2
Mortgage Loans Secured by Hotel [Member] | Mortgage Loans Payable [Member] | Ireland [Member]
Debt Instrument [Line Items]
Long-term debt			80.5			72.9
Mortgage Loans Secured by Residential and Other [Member] | Mortgage Loans Payable [Member] | Ireland [Member]
Debt Instrument [Line Items]
Long-term debt			4			29
Mortgage Loans Secured by Residential and Other [Member] | Mortgage Loans Payable [Member] | Ireland [Member] | KWE [Member]
Debt Instrument [Line Items]
Long-term debt			0			14.6
Mortgage Loans Secured by Residential and Other [Member] | Mortgage Loans Payable [Member] | Spain [Member]
Debt Instrument [Line Items]
Long-term debt			3.5			0
Mortgage Loans Secured by Residential and Other [Member] | Mortgage Loans Payable [Member] | Spain [Member] | KWE [Member]
Debt Instrument [Line Items]
Long-term debt			3.5			0
Mortgage Loans, Unsecured [Member] | Mortgage Loans Payable [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Long-term debt			$ 446.9			0
Face value		$ 454			£ 300,000,000
Interest rate		3.95%			3.95%
Effective interest rate			3.35%
Percentage of proceeds converted to Euros with swaps			50.00%
Maximum percentage of total assets			60.00%
Maximum ratio of consolidated secured indebtedness to total assets			50.00%
Interest coverage ratio			1.50
Maximum ratio of unencumbered assets to unsecured indebtedness			125.00%
Mortgage Loans, Unsecured [Member] | Unsecured Debt [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Long-term debt			$ 446.9			$ 0
KWE Facility [Member] | Mortgage Loans Payable [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument term	3 years
Maximum borrowing capacity	$ 340.5						£ 225,000,000
Borrowings under line of credit			55.7
Repayments of lines of credit			56
Maximum amount drawn on the unsecured credit facility at any one point			$ 56
Remaining borrowing capacity	$ 340.5						£ 225,000,000

Investment Debt - Schedule of M

Investment Debt - Schedule of Maturities (Details) - Investment Debt [Member] - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
2,015	$ 8.8
2,016	44.5
2,017	193.9
2,018	247.2
2,019	911.7
Thereafter	1,888.6
Long-term debt gross	3,294.7
Debt premium	1.9
Carrying Value	$ 3,296.6	$ 2,195.9

Senior Notes - Schedule of Seni

Senior Notes - Schedule of Senior Notes (Details) - Senior Notes [Member] - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Face Value	$ 705,000,000	$ 705,000,000
Unamortized Net Premium/(Discount)	(2,500,000)	(2,600,000)
Carrying Value	$ 702,500,000	702,400,000
7.75% Senior Notes Due 2042 [Member]
Debt Instrument [Line Items]
Interest Rate	7.75%
Face Value	$ 55,000,000	55,000,000
Unamortized Net Premium/(Discount)	0	0
Carrying Value	$ 55,000,000	55,000,000
5.875% Senior Notes Dues April 2024 [Member]
Debt Instrument [Line Items]
Interest Rate	5.875%
Face Value	$ 650,000,000	650,000,000
Unamortized Net Premium/(Discount)	(2,500,000)	(2,600,000)
Carrying Value	$ 647,500,000	$ 647,400,000

Senior Notes - Additional Infor

Senior Notes - Additional Information (Details) - Senior Notes [Member]	Sep. 30, 2015
Debt Instrument [Line Items]
Balance sheet leverage ratio	1.50
Maximum [Member]
Debt Instrument [Line Items]
Maximum balance sheet leverage ratio	0.63

Borrowings Under Lines of Cre63

Borrowings Under Lines of Credit (Details)	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Borrowings under line of credit	$ 75,000,000	$ 90,000,000
Repayments of lines of credit	200,000,000	$ 90,000,000
KWH Facility [Member] | Unsecured Debt [Member] | U.S. Bank, East-West Bank and Bank of Ireland [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 300,000,000
Rent adjusted fixed charge coverage ratio	2.57
Rolling average basis period	12 months
Balance sheet leverage ratio	0.67
Covenant, tangible net worth	$ 1,051,100,000
Covenant, percent of new equity offerings	50.00%
Line of credit facility covenant compliance minimum requirement of unrestricted cash and cash equivalents	$ 40,000,000
Cash and cash equivalents and marketable securities	592,900,000
Borrowings under line of credit	75,000,000
Repayments of lines of credit	200,000,000
Maximum amount drawn on the unsecured credit facility at any one point	150,000,000
Remaining borrowing capacity	$ 300,000,000		$ 175,000,000
Outstanding unsecured facility line of credit			$ 125,000,000
KWH Facility [Member] | Unsecured Debt [Member] | U.S. Bank, East-West Bank and Bank of Ireland [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Rent adjusted fixed charge coverage ratio	1.50
Covenant, tangible net worth	$ 500,000,000
KWH Facility [Member] | Unsecured Debt [Member] | U.S. Bank, East-West Bank and Bank of Ireland [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Balance sheet leverage ratio	1.50
KWH Facility [Member] | Unsecured Debt [Member] | U.S. Bank, East-West Bank and Bank of Ireland [Member] | Revolving Credit Facility [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%

Equity - Common Stock (Details)

Equity - Common Stock (Details) - USD ($) $ in Millions	May. 19, 2015	Sep. 30, 2015	Sep. 30, 2014
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock		$ 215	$ 190.6
Cumulative Preferred Stock Subject to Mandatory Redemption [Member]
Subsidiary, Sale of Stock [Line Items]
Conversion of preferred stock to common stock (in shares)		(100,000)
Cumulative Preferred Stock Subject to Mandatory Redemption [Member] | Series A Preferred Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Preferred stock outstanding (in shares)	100,000		100,000
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Issuance of common stock (in shares)		8,625,000
Proceeds from issuance of common stock		$ 215.3
Issuance costs		$ 0.3
Conversion of preferred stock to common stock (in shares)	8,554,948	8,554,948

Equity - Dividend Distributions

Equity - Dividend Distributions (Details) - USD ($) $ / shares in Units, $ in Millions	May. 19, 2015	Sep. 30, 2015	Sep. 30, 2014
Declared
Preferred Stock, Declared		$ 3.1	$ 6.1
Common stock, Declared		39.5	25
Total, Declared		42.6	31.1
Paid
Preferred Stock, Paid		3.1	6.1
Common Stock, Paid		34.6	22.3
Total, Paid		$ 37.7	$ 28.4
Common stock, par or stated value (in dollars per share)		$ 0.0001	$ 0.0001
Common stock authorized (in shares)		200,000,000	200,000,000
Common Stock [Member]
Paid
Conversion of preferred stock to common stock (in shares)	8,554,948	8,554,948
Common stock, par or stated value (in dollars per share)	$ 0.0001
Cumulative Preferred Stock Subject to Mandatory Redemption [Member]
Paid
Conversion of preferred stock to common stock (in shares)		(100,000)
Series A Preferred Stock [Member]
Declared
Preferred Stock, Declared		$ 1.5	$ 4.5
Paid
Preferred Stock, Paid		1.5	$ 4.5
Series A Preferred Stock [Member] | Cumulative Preferred Stock Subject to Mandatory Redemption [Member]
Paid
Preferred stock dividend rate percentage			6.00%
Preferred stock issued (in shares)			100,000
Preferred stock outstanding (in shares)	100,000		100,000
Series B Preferred Stock [Member]
Declared
Preferred Stock, Declared		1.6	$ 1.6
Paid
Preferred Stock, Paid		$ 1.6	$ 1.6
Series B Preferred Stock [Member] | Cumulative Preferred Stock Subject to Mandatory Redemption [Member]
Paid
Preferred stock dividend rate percentage		6.45%
Preferred stock issued (in shares)		32,550	32,550
Conversion price of convertible preferred stock (in dollars per share)		$ 10.03	$ 10.20
Preferred stock outstanding (in shares)		32,550	32,550

Equity - Share-Based Compensati

Equity - Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 5.5	$ 5.3	$ 19.6	$ 8.7

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Income (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at December 31, 2014	$ (28.2)
Unrealized (loss) gains, arising during the period	(98.8)
Amounts reclassified out of AOCI during the period	9.7
Taxes on unrealized gains (losses), arising during the period	17.6
Noncontrolling interest	63.3
Balance at September 30, 2015	(36.4)
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at December 31, 2014	(42.4)
Unrealized (loss) gains, arising during the period	(118.4)
Amounts reclassified out of AOCI during the period	18.8
Taxes on unrealized gains (losses), arising during the period	30.4
Noncontrolling interest	55.6
Balance at September 30, 2015	(56)
Currency Derivative Contracts
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at December 31, 2014	14.4
Unrealized (loss) gains, arising during the period	19.5
Amounts reclassified out of AOCI during the period	(9)
Taxes on unrealized gains (losses), arising during the period	(12.8)
Noncontrolling interest	7.7
Balance at September 30, 2015	19.8
Marketable Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at December 31, 2014	(0.2)
Unrealized (loss) gains, arising during the period	0.1
Amounts reclassified out of AOCI during the period	(0.1)
Taxes on unrealized gains (losses), arising during the period	0
Noncontrolling interest	0
Balance at September 30, 2015	$ (0.2)

Equity - Noncontrolling Interes

Equity - Noncontrolling Interests (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,805.7	$ 2,142.8
Distributions to noncontrolling interests	205.8
Contributions from noncontrolling interests	6.5
Acquisition of Kennedy Wilson Europe (KWE) shares from noncontrolling interest holders	59.5
KWE [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,600
Ownership percentage by parent	17.70%
Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,800	$ 2,100
Foreign currency losses, net of hedges allocated to noncontrolling interest holders	63.3
Distributions to noncontrolling interests	205.8
Contributions from noncontrolling interests	6.5
Acquisition of Kennedy Wilson Europe (KWE) shares from noncontrolling interest holders	$ 59.5

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 14.9	$ (2.2)	$ 42.6	$ 44.6
Net income (loss) and dividends allocated to participating securities	(0.6)	(0.5)	(1.9)	(2.6)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	14.3	(2.7)	40.7	42
Dividends declared on common shares	(13)	(8.1)	(37.8)	(24.1)
Undistributed earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	$ 1.3	$ (10.8)	$ 2.9	$ 17.9
Distributed earnings per share (in dollars per share)	$ 0.12	$ 0.09	$ 0.36	$ 0.27
Undistributed earnings per share (in dollars per share)	0.01	(0.12)	0.04	0.20
Income (loss) per basic (in dollars per share)	0.13	(0.03)	0.40	0.47
Income (loss) per diluted (in dollars per share)	$ 0.13	$ (0.03)	$ 0.40	$ 0.47
Weighted average shares outstanding for basic (in shares)	107,433,124	89,267,838	101,361,606	88,854,215
Weighted average shares outstanding for diluted (in shares)	107,433,124	89,267,838	105,517,172	90,169,008
Dividends declared per common share (in dollars per share)	$ 0.12	$ 0.09	$ 0.36	$ 0.27
Potentially dilutive securities (in shares)	3,538,420	12,993,531	3,163,589

Segment Information (Details)

Segment Information (Details) ft² in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)ft²office	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)ft²segmentofficeline_of_business	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			2
Number of main lines of businesses | line_of_business			4
Segment Reporting Information, Profit (Loss) [Abstract]
Investment management, property services and research fees (includes $8.0, $6.2, $26.7, and $47.0 of related party fees)	$ 15.1	$ 12.9	$ 47	$ 65
Related party fees	8	6.2	26.7	47
Rental	106.6	70.6	295.3	124.4
Hotel	31.3	22.9	78	36.9
Sale of real estate	1.6	1.6	3.7	19
Loan purchases, loan originations and other	4.6	5.7	13.4	11.7
Total revenue	159.2	113.7	437.4	257
Operating expenses	(99.6)	(79.5)	(288.3)	(196.2)
Depreciation and amortization	(44.9)	(34.7)	(119.5)	(67.3)
Total operating expenses	(144.5)	(114.2)	(407.8)	(263.5)
Income from unconsolidated investments	15.9	12.1	44.1	45.9
Operating income	30.6	11.6	73.7	39.4
Gain on sale of real estate	4.6	0	44.7	0
Acquisition-related gains	29.9	28.9	87.2	199.2
Acquisition-related expenses	(8.2)	(5.3)	(28.3)	(16.9)
Interest expense-investment	(31.3)	(13.8)	(77.9)	(30.2)
Interest expense-corporate	(11.7)	(15.9)	(35.5)	(41.1)
Other	(4.3)	(1.9)	(0.7)	1
Income before provision for income taxes	9.6	3.6	63.2	151.4
Provision for income taxes	(4.5)	(6.6)	(32.5)	(40.8)
Net income (loss)	5.1	(3)	30.7	110.6
Net loss (income) attributable to the noncontrolling interests	10.3	2.8	15	(59.9)
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(2)	(3.1)	(6.1)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	14.9	(2.2)	42.6	44.6
Segment Reporting Information, Assets [Abstract]
Total assets	$ 7,292.7		$ 7,292.7		$ 6,332.1
Investments [Member]
Segment Reporting Information [Line Items]
Average ownership interest in investments			36.00%
Services [Member]
Segment Reporting Information [Line Items]
Area of real estate property | ft²	53		53
Number of offices | office	25		25
Segment Reporting Information, Profit (Loss) [Abstract]
Related party fees	$ 8	6.2	$ 26.7	47
Operating Segments [Member] | Investments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Rental	106.6	70.6	295.3	124.4
Hotel	31.3	22.9	78	36.9
Sale of real estate	1.6	1.6	3.7	19
Loan purchases, loan originations and other	4.6	5.7	13.4	11.7
Total revenue	144.1	100.8	390.4	192
Operating expenses	(70.9)	(55.2)	(204.4)	(130.4)
Depreciation and amortization	(44.9)	(34.7)	(119.5)	(67.3)
Income from unconsolidated investments	15	11.4	40.6	43.1
Operating income	43.3	22.3	107.1	37.4
Gain on sale of real estate	4.6	0	44.7	0
Acquisition-related gains	29.9	28.9	87.2	199.2
Acquisition-related expenses	(8.2)	(5.3)	(28.3)	(16.9)
Interest expense-investment	(31.3)	(13.8)	(77.9)	(30.2)
Other	(4.3)	(1.9)	(0.7)	1
Net income (loss)	34	30.2	132.1	190.5
Net loss (income) attributable to the noncontrolling interests	10.4	0.1	14.6	(62.6)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	44.4	30.3	146.7	127.9
Segment Reporting Information, Assets [Abstract]
Total assets	7,106.9		7,106.9		6,017.9
Operating Segments [Member] | Services [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Investment management, property services and research fees (includes $8.0, $6.2, $26.7, and $47.0 of related party fees)	15.1	12.9	47	65
Total revenue	15.1	12.9	47	65
Operating expenses	(16.1)	(14.5)	(44.2)	(40.4)
Income from unconsolidated investments	0.9	0.7	3.5	2.8
Operating income	(0.1)	(0.9)	6.3	27.4
Net loss (income) attributable to the noncontrolling interests	0	2.7	0.4	2.7
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	(0.1)	1.8	6.7	30.1
Segment Reporting Information, Assets [Abstract]
Total assets	60.7		60.7		60.2
Corporate, Non-Segment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Operating expenses	(12.6)	(9.7)	(39.7)	25.5
Operating income	(12.6)	(9.7)	(39.7)	(25.5)
Interest expense-corporate	(11.7)	(15.9)	(35.5)	(41.1)
Income before provision for income taxes	(24.3)	(25.6)	(75.2)	(66.6)
Provision for income taxes	(4.5)	(6.6)	(32.5)	(40.8)
Net income (loss)	(28.8)	(32.2)	(107.7)	(107.4)
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(2)	(3.1)	(6.1)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	(29.3)	$ (34.2)	(110.8)	$ (113.5)
Segment Reporting Information, Assets [Abstract]
Total assets	$ 125.1		$ 125.1		$ 254

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Income before income taxes	$ 9.6	$ 3.6	$ 63.2	$ 151.4
Provision for income taxes	4.5	6.6	32.5	40.8
US domestic taxes would be incurred if repatriated to the United States	7		7
Cash and dash equivalents	541.6	$ 787	541.6	$ 787	$ 937.7	$ 178.2
United Kingdom and Ireland [Member]
Income Taxes [Line Items]
Cash and dash equivalents	$ 359.9		$ 359.9
U.S. Federal [Member]
Income Taxes [Line Items]
Federal statutory rate			35.00%

Guarantor and Non-Guarantor F72

Guarantor and Non-Guarantor Financial Statements (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Guarantor and Nonguarantor Financial Statements [Abstract]
Consolidated entity ownership percentage	100.00%	100.00%	100.00%	100.00%

Guarantor and Non-Guarantor F73

Guarantor and Non-Guarantor Financial Statements - Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 153.8	$ 174.6
Cash held by consolidated investments	387.8	763.1
Accounts receivable	56.2	55.6
Loan purchases and originations	421.3	313.4
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	5,463.5	4,228.1
Unconsolidated investments	499.6	492.2
Investments in and advances to consolidated subsidiaries	0	0
Other assets	310.5	305.1
Total assets	7,292.7	6,332.1
Liabilities
Accounts payable	19.9	11.7
Accrued expenses and other liabilities	348.9	253.2
Accounts payable, accrued expense and other liabilities		264.9
Total liabilities	4,367.9	3,288.2
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity	1,119.1	901.1
Noncontrolling interests	1,805.7	2,142.8
Total equity	2,924.8	3,043.9
Total liabilities and equity	7,292.7	6,332.1
Parent [Member]
Assets
Cash and cash equivalents	0	0
Cash held by consolidated investments	0	0
Accounts receivable	0	0
Loan purchases and originations	0	0
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	0	0
Unconsolidated investments	0	0
Investments in and advances to consolidated subsidiaries	1,132.1	909.8
Other assets	0	0
Total assets	1,132.1	909.8
Liabilities
Accounts payable	0
Accrued expenses and other liabilities	13.5
Accounts payable, accrued expense and other liabilities		8.7
Total liabilities	13.5	8.7
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity	1,118.6	901.1
Noncontrolling interests	0	0
Total equity	1,118.6	901.1
Total liabilities and equity	1,132.1	909.8
Kennedy-Wilson, Inc. [Member]
Assets
Cash and cash equivalents	40.5	38.2
Cash held by consolidated investments	0	0
Accounts receivable	0	0
Loan purchases and originations	77.5	38.5
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	0	0
Unconsolidated investments	12.3	9.3
Investments in and advances to consolidated subsidiaries	1,865.9	1,655
Other assets	3.6	63.7
Total assets	1,999.8	1,804.7
Liabilities
Accounts payable	0.4
Accrued expenses and other liabilities	164.8
Accounts payable, accrued expense and other liabilities		67.5
Total liabilities	867.7	894.9
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity	1,132.1	909.8
Noncontrolling interests	0	0
Total equity	1,132.1	909.8
Total liabilities and equity	1,999.8	1,804.7
Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents	27.5	21
Cash held by consolidated investments	0	0
Accounts receivable	24.7	31.5
Loan purchases and originations	12.2	20.6
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	941.2	474.5
Unconsolidated investments	321.1	328.7
Investments in and advances to consolidated subsidiaries	1,176.2	1,065.6
Other assets	38.4	40.6
Total assets	2,541.3	1,982.5
Liabilities
Accounts payable	2.9
Accrued expenses and other liabilities	133.6
Accounts payable, accrued expense and other liabilities		79.2
Total liabilities	675.6	327.5
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity	1,865.7	1,655
Noncontrolling interests	0	0
Total equity	1,865.7	1,655
Total liabilities and equity	2,541.3	1,982.5
Non-Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents	85.8	115.4
Cash held by consolidated investments	387.8	763.1
Accounts receivable	31.5	24.1
Loan purchases and originations	369.4	292.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	4,522.3	3,753.6
Unconsolidated investments	166.2	154.2
Investments in and advances to consolidated subsidiaries	0	0
Other assets	268.5	200.8
Total assets	5,831.5	5,303.3
Liabilities
Accounts payable	16.6
Accrued expenses and other liabilities	37
Accounts payable, accrued expense and other liabilities		109.5
Total liabilities	2,848.9	2,094.9
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity	1,176.9	1,065.6
Noncontrolling interests	1,805.7	2,142.8
Total equity	2,982.6	3,208.4
Total liabilities and equity	5,831.5	5,303.3
Elimination [Member]
Assets
Cash and cash equivalents	0	0
Cash held by consolidated investments	0	0
Accounts receivable	0	0
Loan purchases and originations	(37.8)	(37.8)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	0	0
Unconsolidated investments	0	0
Investments in and advances to consolidated subsidiaries	(4,174.2)	(3,630.4)
Other assets	0	0
Total assets	(4,212)	(3,668.2)
Liabilities
Accounts payable	0
Accrued expenses and other liabilities	0
Accounts payable, accrued expense and other liabilities		0
Total liabilities	(37.8)	(37.8)
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity	(4,174.2)	(3,630.4)
Noncontrolling interests	0	0
Total equity	(4,174.2)	(3,630.4)
Total liabilities and equity	(4,212)	(3,668.2)
Investment Debt [Member]
Liabilities
Long-term debt	3,296.6	2,195.9
Investment Debt [Member] | Parent [Member]
Liabilities
Long-term debt	0	0
Investment Debt [Member] | Kennedy-Wilson, Inc. [Member]
Liabilities
Long-term debt	0	0
Investment Debt [Member] | Guarantor Subsidiaries [Member]
Liabilities
Long-term debt	539.1	248.3
Investment Debt [Member] | Non-Guarantor Subsidiaries [Member]
Liabilities
Long-term debt	2,795.3	1,985.4
Investment Debt [Member] | Elimination [Member]
Liabilities
Long-term debt	(37.8)	(37.8)
Senior Notes [Member]
Liabilities
Long-term debt	702.5	702.4
Senior Notes [Member] | Parent [Member]
Liabilities
Long-term debt	0	0
Senior Notes [Member] | Kennedy-Wilson, Inc. [Member]
Liabilities
Long-term debt	702.5	702.4
Senior Notes [Member] | Guarantor Subsidiaries [Member]
Liabilities
Long-term debt	0	0
Senior Notes [Member] | Non-Guarantor Subsidiaries [Member]
Liabilities
Long-term debt	0	0
Senior Notes [Member] | Elimination [Member]
Liabilities
Long-term debt	0	0
Line of Credit [Member]
Liabilities
Long-term debt	$ 0	125
Line of Credit [Member] | Parent [Member]
Liabilities
Long-term debt		0
Line of Credit [Member] | Kennedy-Wilson, Inc. [Member]
Liabilities
Long-term debt		125
Line of Credit [Member] | Guarantor Subsidiaries [Member]
Liabilities
Long-term debt		0
Line of Credit [Member] | Non-Guarantor Subsidiaries [Member]
Liabilities
Long-term debt		0
Line of Credit [Member] | Elimination [Member]
Liabilities
Long-term debt		$ 0

Guarantor and Non-Guarantor F74

Guarantor and Non-Guarantor Financial Statements - Income Statements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue
Investment management, property services and research fees	$ 15.1	$ 12.9	$ 47	$ 65
Rental	106.6	70.6	295.3	124.4
Hotel	31.3	22.9	78	36.9
Sale of real estate	1.6	1.6	3.7	19
Loan purchases, loan originations and other	4.6	5.7	13.4	11.7
Total revenue	159.2	113.7	437.4	257
Operating expenses
Commission and marketing	1.2	2	4.4	3.8
Rental operating	29.4	20.9	78.5	37.8
Hotel operating	22.7	16.9	66.1	32.1
Cost of real estate sold	1.1	1.1	2.6	14.6
Compensation and related	35.2	26.8	105.4	79.6
General and administrative	10	11.8	31.3	28.3
Depreciation and amortization	44.9	34.7	119.5	67.3
Total operating expenses	144.5	114.2	407.8	263.5
Income from unconsolidated investments	15.9	12.1	44.1	45.9
Income from consolidated subsidiaries	0	0	0	0
Operating income	30.6	11.6	73.7	39.4
Non-operating income (expense)
Acquisition-related gains	29.9	28.9	87.2	199.2
Acquisition-related expenses	(8.2)	(5.3)	(28.3)	(16.9)
Interest expense-investment	(31.3)	(13.8)	(77.9)	(30.2)
Interest expense-corporate	(11.7)	(15.9)	(35.5)	(41.1)
Gain on sale of real estate	4.6	0	44.7	0
Other income / (expense)	(4.3)	(1.9)	(0.7)	1
Income before provision for income taxes	9.6	3.6	63.2	151.4
(Provision for) benefit from income taxes	(4.5)	(6.6)	(32.5)	(40.8)
Net income (loss)	5.1	(3)	30.7	110.6
Net (income) loss attributable to the noncontrolling interests	10.3	2.8	15	(59.9)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	15.4	(0.2)	45.7	50.7
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(2)	(3.1)	(6.1)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	14.9	(2.2)	42.6	44.6
Parent [Member]
Revenue
Investment management, property services and research fees	0	0	0	0
Rental	0	0	0	0
Hotel	0	0	0	0
Sale of real estate	0	0	0	0
Loan purchases, loan originations and other	0	0	0	0
Total revenue	0	0	0	0
Operating expenses
Commission and marketing	0	0	0	0
Rental operating	0	0	0	0
Hotel operating	0	0	0	0
Cost of real estate sold	0	0	0	0
Compensation and related	5.5	5.3	19.6	8.7
General and administrative	0	0	0	0
Depreciation and amortization	0	0	0	0
Total operating expenses	5.5	5.3	19.6	8.7
Income from unconsolidated investments	0	0	0	0
Income from consolidated subsidiaries	10.6	2.3	50.3	119.3
Operating income	5.1	(3)	30.7	110.6
Non-operating income (expense)
Acquisition-related gains	0	0	0	0
Acquisition-related expenses	0	0	0	0
Interest expense-investment	0	0	0	0
Interest expense-corporate	0	0	0	0
Gain on sale of real estate	0	0	0
Other income / (expense)	0	0	0	0
Income before provision for income taxes	5.1	(3)	30.7	110.6
(Provision for) benefit from income taxes	0	0	0	0
Net income (loss)	5.1	(3)	30.7	110.6
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	5.1	(3)	30.7	110.6
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(2)	(3.1)	(6.1)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	4.6	(5)	27.6	104.5
Kennedy-Wilson, Inc. [Member]
Revenue
Investment management, property services and research fees	0	(0.5)	0	0
Rental	0	0	0	0
Hotel	0	0	0	0
Sale of real estate	0	0	0	0
Loan purchases, loan originations and other	0	0.1	0	0.2
Total revenue	0	(0.4)	0	0.2
Operating expenses
Commission and marketing	0	0	1	0
Rental operating	0	0	0	0
Hotel operating	0	0	0	0
Cost of real estate sold	0	0	0	0
Compensation and related	17	8.8	46.9	39
General and administrative	3.6	3.8	11	9.4
Depreciation and amortization	0.1	0.2	0.5	0.7
Total operating expenses	20.7	12.8	59.4	49.1
Income from unconsolidated investments	(1.2)	2.1	0	3.3
Income from consolidated subsidiaries	44	35.7	148.7	245.2
Operating income	22.1	24.6	89.3	199.6
Non-operating income (expense)
Acquisition-related gains	0	0	0	(7)
Acquisition-related expenses	(0.1)	0	(0.4)	0
Interest expense-investment	0	0	0	0
Interest expense-corporate	(11.7)	(15.9)	(35.5)	(41.1)
Gain on sale of real estate	0	0	0
Other income / (expense)	0.4	(0.2)	0.3	0
Income before provision for income taxes	10.7	8.5	53.7	151.5
(Provision for) benefit from income taxes	(0.1)	(6.1)	(3.4)	(32.2)
Net income (loss)	10.6	2.4	50.3	119.3
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	10.6	2.4	50.3	119.3
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	10.6	2.4	50.3	119.3
Guarantor Subsidiaries [Member]
Revenue
Investment management, property services and research fees	14.7	14.1	44.9	62.6
Rental	19.2	5.6	44	12
Hotel	0	0	0	0
Sale of real estate	0.1	0.1	0.1	0.7
Loan purchases, loan originations and other	0.2	(2.8)	1	1.5
Total revenue	34.2	17	90	76.8
Operating expenses
Commission and marketing	1.1	1.6	2.7	3
Rental operating	8	(5.5)	16.2	(3.1)
Hotel operating	0	0	0	0
Cost of real estate sold	0	0	0	0.7
Compensation and related	11	10.7	32.4	27
General and administrative	4.9	7.5	12.2	11.5
Depreciation and amortization	5.7	3.1	14.2	7.9
Total operating expenses	30.7	17.4	77.7	47
Income from unconsolidated investments	20	4.2	37.6	35.1
Income from consolidated subsidiaries	(35)	30.2	49	183.1
Operating income	(11.5)	34	98.9	248
Non-operating income (expense)
Acquisition-related gains	61.6	0	61.6	3.7
Acquisition-related expenses	(0.4)	(0.1)	(0.6)	(1.7)
Interest expense-investment	(4.6)	(3.5)	(10.1)	(3.5)
Interest expense-corporate	0	0	0	0
Gain on sale of real estate	0	0	0
Other income / (expense)	0.1	0	0.1	1.5
Income before provision for income taxes	45.2	30.4	149.9	248
(Provision for) benefit from income taxes	(1.2)	5.1	(1.2)	(3)
Net income (loss)	44	35.5	148.7	245
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	44	35.5	148.7	245
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	44	35.5	148.7	245
Non-Guarantor Subsidiaries [Member]
Revenue
Investment management, property services and research fees	0.4	(0.7)	2.1	2.4
Rental	87.4	65	251.3	112.4
Hotel	31.3	22.9	78	36.9
Sale of real estate	1.5	1.5	3.6	18.3
Loan purchases, loan originations and other	4.4	8.4	12.4	10
Total revenue	125	97.1	347.4	180
Operating expenses
Commission and marketing	0.1	0.4	0.7	0.8
Rental operating	21.4	26.4	62.3	40.9
Hotel operating	22.7	16.9	66.1	32.1
Cost of real estate sold	1.1	1.1	2.6	13.9
Compensation and related	1.7	2	6.5	4.9
General and administrative	1.5	0.5	8.1	7.4
Depreciation and amortization	39.1	31.4	104.8	58.7
Total operating expenses	87.6	78.7	251.1	158.7
Income from unconsolidated investments	(2.9)	5.8	6.5	7.5
Income from consolidated subsidiaries	0	0	0	0
Operating income	34.5	24.2	102.8	28.8
Non-operating income (expense)
Acquisition-related gains	(31.7)	28.9	25.6	202.5
Acquisition-related expenses	(7.7)	(5.2)	(27.3)	(15.2)
Interest expense-investment	(26.7)	(10.3)	(67.8)	(26.7)
Interest expense-corporate	0	0	0	0
Gain on sale of real estate	4.6	0	44.7
Other income / (expense)	(4.8)	(1.7)	(1.1)	(0.5)
Income before provision for income taxes	(31.8)	35.9	76.9	188.9
(Provision for) benefit from income taxes	(3.2)	(5.6)	(27.9)	(5.6)
Net income (loss)	(35)	30.3	49	183.3
Net (income) loss attributable to the noncontrolling interests	10.3	2.8	15	(59.9)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	(24.7)	33.1	64	123.4
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	(24.7)	33.1	64	123.4
Elimination [Member]
Revenue
Investment management, property services and research fees	0	0	0	0
Rental	0	0	0	0
Hotel	0	0	0	0
Sale of real estate	0	0	0	0
Loan purchases, loan originations and other	0	0	0	0
Total revenue	0	0	0	0
Operating expenses
Commission and marketing	0	0	0	0
Rental operating	0	0	0	0
Hotel operating	0	0	0	0
Cost of real estate sold	0	0	0	0
Compensation and related	0	0	0	0
General and administrative	0	0	0	0
Depreciation and amortization	0	0	0	0
Total operating expenses	0	0	0	0
Income from unconsolidated investments	0	0	0	0
Income from consolidated subsidiaries	(19.6)	(68.2)	(248)	(547.6)
Operating income	(19.6)	(68.2)	(248)	(547.6)
Non-operating income (expense)
Acquisition-related gains	0	0	0	0
Acquisition-related expenses	0	0	0	0
Interest expense-investment	0	0	0	0
Interest expense-corporate	0	0	0	0
Gain on sale of real estate	0	0	0
Other income / (expense)	0	0	0	0
Income before provision for income taxes	(19.6)	(68.2)	(248)	(547.6)
(Provision for) benefit from income taxes	0	0	0	0
Net income (loss)	(19.6)	(68.2)	(248)	(547.6)
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	(19.6)	(68.2)	(248)	(547.6)
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (19.6)	$ (68.2)	$ (248)	$ (547.6)

Guarantor and Non-Guarantor F75

Guarantor and Non-Guarantor Financial Statements - Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net income (loss)		$ 5.1	$ (3)	$ 30.7	$ 110.6
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain		(51.8)	(89)	(88)	(67.1)
Unrealized (loss) gain on marketable securities		0	(1.1)	0.1	(1.1)
Amounts reclassified out of AOCI during the period		(0.3)	0	9.7	(7.1)
Unrealized currency derivative contracts gain (loss)		(8.3)	20.1	6.7	16.5
Total other comprehensive (loss) gain for the period		(60.4)	(70)	(71.5)	(58.8)
Comprehensive (loss) income		(55.3)	(73)	(40.8)	51.8
Comprehensive loss (income) attributable to noncontrolling interests	[1]	67.9	58	78.3	(23.5)
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		12.6	(15)	37.5	28.3
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)		5.1	(3)	30.7	110.6
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain		(51.8)	(89)	(88)	(67.1)
Unrealized (loss) gain on marketable securities			(1.1)	0.1	(1.1)
Amounts reclassified out of AOCI during the period		(0.3)	0	9.7	(7.1)
Unrealized currency derivative contracts gain (loss)		(8.3)	20.1	6.7	16.5
Total other comprehensive (loss) gain for the period		(60.4)	(70)	(71.5)	(58.8)
Comprehensive (loss) income		(55.3)	(73)	(40.8)	51.8
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(55.3)	(73)	(40.8)	51.8
Kennedy-Wilson, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)		10.6	2.4	50.3	119.3
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain		(51.8)	(89)	(88)	(67.1)
Unrealized (loss) gain on marketable securities			(1.1)	0.1	(1.1)
Amounts reclassified out of AOCI during the period		(0.3)	0	9.7	(7.1)
Unrealized currency derivative contracts gain (loss)		(8.3)	20.1	6.7	16.5
Total other comprehensive (loss) gain for the period		(60.4)	(70)	(71.5)	(58.8)
Comprehensive (loss) income		(49.8)	(67.6)	(21.2)	60.5
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(49.8)	(67.6)	(21.2)	60.5
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)		44	35.5	148.7	245
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain		(1)	(21.4)	(9.4)	2.5
Unrealized (loss) gain on marketable securities			0	0	0
Amounts reclassified out of AOCI during the period		(0.3)	9.5	(0.6)	1.2
Unrealized currency derivative contracts gain (loss)		5.8	6.5	8.3	5.3
Total other comprehensive (loss) gain for the period		4.5	(5.4)	(1.7)	9
Comprehensive (loss) income		48.5	30.1	147	254
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		48.5	30.1	147	254
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)		(35)	30.3	49	183.3
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain		(138.3)	(12.6)	(23.8)	(16.5)
Unrealized (loss) gain on marketable securities			0	0	0
Amounts reclassified out of AOCI during the period		0	(9.5)	10.3	(8.3)
Unrealized currency derivative contracts gain (loss)		(14.1)	11.3	(1.6)	10.1
Total other comprehensive (loss) gain for the period		(152.4)	(10.8)	(15.1)	(14.7)
Comprehensive (loss) income		(187.4)	19.5	33.9	168.6
Comprehensive loss (income) attributable to noncontrolling interests		67.9	58	78.3	(23.5)
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(119.5)	77.5	112.2	145.1
Elimination [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)		(19.6)	(68.2)	(248)	(547.6)
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain		191.1	123	121.2	81.1
Unrealized (loss) gain on marketable securities			1.1	(0.1)	1.1
Amounts reclassified out of AOCI during the period		0.6	0	(19.4)	14.2
Unrealized currency derivative contracts gain (loss)		16.6	(37.9)	(13.4)	(31.9)
Total other comprehensive (loss) gain for the period		208.3	86.2	88.3	64.5
Comprehensive (loss) income		188.7	18	$ (159.7)	(483.1)
Comprehensive loss (income) attributable to noncontrolling interests		0	0		0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		$ 188.7	$ 18	$ (159.7)	$ (483.1)
[1]	Comprehensive income attributable to noncontrolling interest includes allocation of unrealized currency translation losses and currency derivative contracts.

Guarantor and Non-Guarantor F76

Guarantor and Non-Guarantor Financial Statements - Cash Flows (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
		Dec. 31, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities			$ 114.2	$ 85.7
Cash flows from investing activities:
Additions to loans			(233.9)	(476.4)
Collections of loans			15.3	95.9
Net proceeds from sale of real estate			523.4	16.3
Proceeds from settlement of foreign forward contracts			36.2	7.5
Purchases of foreign currency options			(5.2)	(2.2)
Purchases of and additions to real estate			(1,534)	(1,538.2)
Proceeds from sale of marketable securities			6.2	0
Distributions from unconsolidated investments			92	99.3
Contributions to unconsolidated investments			(155.2)	(139.6)
Investment in marketable securities			0	(11.5)
(Investments in) distributions from consolidated subsidiaries, net			0	0
Net cash used in investing activities			(1,255.2)	(1,948.9)
Cash flows from financing activities:
Borrowings under line of credit			75	90
Repayment of junior subordinated debt			0	(40)
Repayment of line of credit			(200)	(90)
Borrowings under investment debt			1,632.2	825.1
Repayment of investment debt			(620.2)	(32.2)
Borrowings under senior notes payable			0	297.2
Debt issue costs			(15)	(28.5)
Issuance of common stock			215	190.6
Repurchase of common stock			(11.4)	(2.9)
Dividends paid			(37.7)	(28.4)
Proceeds from the issuance of KWE shares, net			0	1,351.1
Change in restricted cash			0	(42.6)
Acquisition of KWE shares from noncontrolling interest holders			(59.5)	(16.8)
Contributions from noncontrolling interests, excluding KWE			6.5	12.9
Distributions to noncontrolling interests			(205.8)	(24.3)
Net cash provided by financing activities			779.1	2,461.2
Effect of currency exchange rate changes on cash and cash equivalents			(34.2)	10.8
Net change in cash and cash equivalents	[1]		(396.1)	608.8
Cash and cash equivalents, beginning of period		$ 787	937.7	178.2
Cash and cash equivalents, end of period		937.7	541.6	787
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities			4.8	(0.1)
Cash flows from investing activities:
Additions to loans			0	0
Collections of loans			0	0
Net proceeds from sale of real estate			0	0
Proceeds from settlement of foreign forward contracts			0	0
Purchases of foreign currency options			0	0
Purchases of and additions to real estate			0	0
Proceeds from sale of marketable securities			0
Distributions from unconsolidated investments			0	0
Contributions to unconsolidated investments			0	0
Investment in marketable securities				0
(Investments in) distributions from consolidated subsidiaries, net			(170.7)	(159.3)
Net cash used in investing activities			(170.7)	(159.3)
Cash flows from financing activities:
Borrowings under line of credit			0	0
Repayment of junior subordinated debt				0
Repayment of line of credit			0	0
Borrowings under investment debt			0	0
Repayment of investment debt			0	0
Borrowings under senior notes payable				0
Debt issue costs			0	0
Issuance of common stock			215	190.6
Repurchase of common stock			(11.4)	(2.9)
Dividends paid			(37.7)	(28.4)
Proceeds from the issuance of KWE shares, net				0
Change in restricted cash				0
Acquisition of KWE shares from noncontrolling interest holders			0	0
Contributions from noncontrolling interests, excluding KWE			0	0
Distributions to noncontrolling interests			0	0
Net cash provided by financing activities			165.9	159.3
Effect of currency exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			0	(0.1)
Cash and cash equivalents, beginning of period		(0.1)	0	0
Cash and cash equivalents, end of period		0	0	(0.1)
Kennedy-Wilson, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities			41.2	(25.7)
Cash flows from investing activities:
Additions to loans			(39)	0
Collections of loans			0	0
Net proceeds from sale of real estate			0	0
Proceeds from settlement of foreign forward contracts			17.9	0
Purchases of foreign currency options			(3.7)	0
Purchases of and additions to real estate			0	(0.6)
Proceeds from sale of marketable securities			0
Distributions from unconsolidated investments			0	0.3
Contributions to unconsolidated investments			(1.5)	(2)
Investment in marketable securities				0
(Investments in) distributions from consolidated subsidiaries, net			113.1	(198.4)
Net cash used in investing activities			86.8	(200.7)
Cash flows from financing activities:
Borrowings under line of credit			75	90
Repayment of junior subordinated debt				(40)
Repayment of line of credit			(200)	(90)
Borrowings under investment debt			0	0
Repayment of investment debt			0	0
Borrowings under senior notes payable				297.2
Debt issue costs			(0.7)	(7.8)
Issuance of common stock			0	0
Repurchase of common stock			0	0
Dividends paid			0	0
Proceeds from the issuance of KWE shares, net				0
Change in restricted cash				0
Acquisition of KWE shares from noncontrolling interest holders			0	0
Contributions from noncontrolling interests, excluding KWE			0	0
Distributions to noncontrolling interests			0	0
Net cash provided by financing activities			(125.7)	249.4
Effect of currency exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			2.3	23
Cash and cash equivalents, beginning of period		71.2	38.2	48.2
Cash and cash equivalents, end of period		38.2	40.5	71.2
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities			103.9	73.7
Cash flows from investing activities:
Additions to loans			0	(5.8)
Collections of loans			8.7	15.1
Net proceeds from sale of real estate			0	0
Proceeds from settlement of foreign forward contracts			0	0
Purchases of foreign currency options			0	0
Purchases of and additions to real estate			(186.3)	(71.6)
Proceeds from sale of marketable securities			6.2
Distributions from unconsolidated investments			44.5	51.6
Contributions to unconsolidated investments			(67.4)	(47.9)
Investment in marketable securities				(11.5)
(Investments in) distributions from consolidated subsidiaries, net			18.9	(65)
Net cash used in investing activities			(175.4)	(135.1)
Cash flows from financing activities:
Borrowings under line of credit			0	0
Repayment of junior subordinated debt				0
Repayment of line of credit			0	0
Borrowings under investment debt			84	31.5
Repayment of investment debt			(5.1)	(0.1)
Borrowings under senior notes payable				0
Debt issue costs			(0.9)	(0.6)
Issuance of common stock			0	0
Repurchase of common stock			0	0
Dividends paid			0	0
Proceeds from the issuance of KWE shares, net				0
Change in restricted cash				0
Acquisition of KWE shares from noncontrolling interest holders			0	0
Contributions from noncontrolling interests, excluding KWE			0	0
Distributions to noncontrolling interests			0	0
Net cash provided by financing activities			78	30.8
Effect of currency exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			6.5	(30.6)
Cash and cash equivalents, beginning of period		46.6	21	77.2
Cash and cash equivalents, end of period		21	27.5	46.6
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities			(35.7)	37.8
Cash flows from investing activities:
Additions to loans			(194.9)	(470.6)
Collections of loans			6.6	80.8
Net proceeds from sale of real estate			523.4	16.3
Proceeds from settlement of foreign forward contracts			18.3	7.5
Purchases of foreign currency options			(1.5)	(2.2)
Purchases of and additions to real estate			(1,347.7)	(1,466)
Proceeds from sale of marketable securities			0
Distributions from unconsolidated investments			47.5	47.4
Contributions to unconsolidated investments			(86.3)	(89.7)
Investment in marketable securities				0
(Investments in) distributions from consolidated subsidiaries, net			38.7	422.7
Net cash used in investing activities			(995.9)	(1,453.8)
Cash flows from financing activities:
Borrowings under line of credit			0	0
Repayment of junior subordinated debt				0
Repayment of line of credit			0	0
Borrowings under investment debt			1,548.2	793.6
Repayment of investment debt			(615.1)	(32.1)
Borrowings under senior notes payable				0
Debt issue costs			(13.4)	(20.1)
Issuance of common stock			0	0
Repurchase of common stock			0	0
Dividends paid			0	0
Proceeds from the issuance of KWE shares, net				1,351.1
Change in restricted cash				(42.6)
Acquisition of KWE shares from noncontrolling interest holders			(59.5)	(16.8)
Contributions from noncontrolling interests, excluding KWE			6.5	12.9
Distributions to noncontrolling interests			(205.8)	(24.3)
Net cash provided by financing activities			660.9	2,021.7
Effect of currency exchange rate changes on cash and cash equivalents			(34.2)	10.8
Net change in cash and cash equivalents			(404.9)	616.5
Cash and cash equivalents, beginning of period		669.3	878.5	52.8
Cash and cash equivalents, end of period		$ 878.5	$ 473.6	$ 669.3
[1]	See discussion of non-cash effects in notes to statement of cash flows.

Subsequent Events (Details)

Subsequent Events (Details) € in Millions, $ in Millions	1 Months Ended	9 Months Ended
	Nov. 09, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Nov. 05, 2015EUR (€)
Subsequent Event [Line Items]
Borrowings under line of credit		$ 75	$ 90
Subsequent Event [Member]
Subsequent Event [Line Items]
Face value | €				€ 300
Interest rate				3.25%
Subsequent Event [Member] | Revolving Credit Facility [Member] | Unsecured Debt [Member]
Subsequent Event [Line Items]
Borrowings under line of credit	$ 20