Kennedy-Wilson (KW) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 04, 2016
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	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		112,491,952

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents		$ 183.5	$ 182.6
Cash held by consolidated investments		672.5	549
Accounts receivable (including $35.3 and $22.9 of related party)		79.1	54.7
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,894.5	5,797.5
Loan purchases and originations (including $41.7 and $40.9 of related party)		151.3	299.7
Unconsolidated investments (including $236.6 and $223.8 at fair value)		453.2	444.9
Other assets		262.2	267.2
Total assets	[1]	7,696.3	7,595.6
Liabilities
Accounts payable		17.5	22.2
Accrued expenses and other liabilities		419	392
Total liabilities	[1]	5,132.2	4,730.5
Equity
Cumulative preferred stock, $0.0001 par value per share: 1,000,000 shares authorized $1,000 per share liquidation preference; 32,550 shares of Series B preferred stock issued and outstanding as of June 30, 2016 and December 31, 2015		0	0
Common stock, 112,502,137 and 114,533,581 shares issued and outstanding as of June 30, 2016 and December 31, 2015		0	0
Additional paid-in capital		1,216.6	1,225.7
Accumulated deficit		(88.1)	(44.2)
Accumulated other comprehensive loss		(56.6)	(47.7)
Total Kennedy-Wilson Holdings, Inc. shareholders' equity		1,071.9	1,133.8
Noncontrolling interests		1,492.2	1,731.3
Total equity		2,564.1	2,865.1
Total liabilities and equity		7,696.3	7,595.6
Investment Debt [Member]
Liabilities
Long-term debt		3,906.3	3,627.5
Senior Notes [Member]
Liabilities
Long-term debt		689.4	688.8
Line of Credit [Member]
Liabilities
Long-term debt		$ 100	$ 0
[1]	The assets and liabilities as of June 30, 2016 include $4,966.4 million (including cash held by consolidated investments of $634.0 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,971.3 million) and $2,908.8 million (including investment debt of $2,603.8 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2015 include $4,973.9 million (including cash held by consolidated investments of $507.8 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,955.8 million) and $2,655.1 million (including investment debt of $2,414.0 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Assets
Related party accounts receivable		$ 35.3	$ 22.9
Related party loan purchases and originations		41.7	40.9
Fair value of unconsolidated investments		236.6	223.8
Assets	[1]	7,696.3	7,595.6
Cash held by consolidated investments		672.5	549
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,894.5	5,797.5
Liabilities
Total liabilities	[1]	$ 5,132.2	$ 4,730.5
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, shares issued (in shares)		112,502,137	114,533,581
Common stock, shares outstanding (in shares)		112,502,137	114,533,581
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
Investment Debt [Member]
Liabilities
Long-term debt		$ 3,906.3	$ 3,627.5
Variable Interest Entity, Primary Beneficiary [Member]
Assets
Assets		4,966.4	4,973.9
Cash held by consolidated investments		634	507.8
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		3,971.3	3,955.8
Liabilities
Total liabilities		2,908.8	2,655.1
Variable Interest Entity, Primary Beneficiary [Member] | Investment Debt [Member]
Liabilities
Long-term debt		$ 2,603.8	$ 2,414
Series B Preferred Stock [Member]
Stockholders' Equity Attributable to Parent [Abstract]
Series B preferred stock issued (in shares)		32,550	32,550
Series B preferred stock outstanding (in shares)		32,550	32,550
[1]	The assets and liabilities as of June 30, 2016 include $4,966.4 million (including cash held by consolidated investments of $634.0 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,971.3 million) and $2,908.8 million (including investment debt of $2,603.8 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2015 include $4,973.9 million (including cash held by consolidated investments of $507.8 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,955.8 million) and $2,655.1 million (including investment debt of $2,414.0 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue
Rental	$ 120.3	$ 98.3	$ 240.2	$ 188.7
Hotel	26.8	23.3	55.9	46.7
Sale of real estate	12.3	0	14.2	2.1
Investment management, property services and research fees (includes $6.5, $9.2, $17.5 and $18.7 of related party fees)	13.5	15.5	32.6	31.9
Loan purchases, loan originations and other	3.6	3.4	5.8	8.8
Total revenue	176.5	140.5	348.7	278.2
Operating expenses
Rental operating	32.8	24.5	63.8	49.1
Hotel operating	23.6	21.8	48.1	43.4
Cost of real estate sold	9.2	0	10.6	1.5
Commission and marketing	1.8	1.8	3.5	3.2
Compensation and related	40.5	44	86.2	70.2
General and administrative	11.8	11.8	22	21.3
Depreciation and amortization	48.9	38	97.3	74.6
Total operating expenses	168.6	141.9	331.5	263.3
Income from unconsolidated investments	8.4	17	27.6	28.2
Operating income	16.3	15.6	44.8	43.1
Non-operating income (expense)
Gain on sale of real estate	16.1	34.5	54.5	40.1
Acquisition-related gains	8.6	53.1	8.6	57.3
Acquisition-related expenses	(6.3)	(2)	(8.4)	(20.1)
Interest expense-investment	(33.6)	(27.2)	(66.1)	(46.6)
Interest expense-corporate	(12.2)	(10.8)	(24.3)	(23.8)
Other income	5	2.8	5.7	3.6
(Loss) income before provision for income taxes	(6.1)	66	14.8	53.6
Benefit from (provision for) income taxes	3.9	(36.1)	3.4	(28)
Net (loss) income	(2.2)	29.9	18.2	25.6
Net loss (income) attributable to the noncontrolling interests	1.1	1.9	(26.2)	4.7
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(0.6)	(1.1)	(2.6)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (1.6)	$ 31.2	$ (9.1)	$ 27.7
Basic (loss) income per share
(Loss) income per basic (in dollars per share)	$ (0.02)	$ 0.29	$ (0.09)	$ 0.27
Weighted average shares outstanding for basic (in shares)	109,056,941	103,721,472	109,136,241	97,669,080
Diluted (loss) income per share
(Loss) income per diluted (in dollars per share)	$ (0.02)	$ 0.27	$ (0.09)	$ 0.27
Weighted average shares outstanding for diluted (in shares)	109,056,941	111,428,358	109,136,241	103,936,881
Dividends declared per common share (in dollars per share)	$ 0.14	$ 0.12	$ 0.28	$ 0.24

Consolidated Statements of Ope5

Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Investment management, property services, and research fees— related party	$ 6.5	$ 9.2	$ 17.5	$ 18.7

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net (loss) income		$ (2.2)	$ 29.9	$ 18.2	$ 25.6
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(82.8)	68.7	(60.6)	(36.2)
Unrealized gain on marketable securities		0	0	0.1	0.1
Amounts reclassified out of AOCI during the period		2.7	10.3	2.7	10
Unrealized currency derivative contracts (loss) gain		(39.4)	(3.4)	(89.4)	15
Total other comprehensive (loss) gain for the period		(119.5)	75.6	(147.2)	(11.1)
Comprehensive (loss) gain		(121.7)	105.5	(129)	14.5
Comprehensive (loss) gain attributable to noncontrolling interests	[1]	110.6	(58.9)	112.1	10.4
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		$ (11.1)	$ 46.6	$ (16.9)	$ 24.9
[1]	Comprehensive (loss) 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) - 6 months ended Jun. 30, 2016 - 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, 2015		32,550	114,533,581
Balance beginning of period at Dec. 31, 2015	$ 2,865.1	$ 0	$ 0	$ 1,225.7	$ (44.2)	$ (47.7)	$ 1,731.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares forfeited (in shares)			(8,000)
Restricted stock grants (RSG) (in shares)			32,500
Shares retired due to RSG vesting (in shares)			634,692
Shares retired due to RSG vesting	14.6			14.6	0
Shares retired due to RSG Vesting (in shares)			(1,421,252)
Shares retired due to RSG vesting	(28)			(25.2)	(2.8)
Stock based compensation	32.2			32.2
Other comprehensive income (loss):
Unrealized foreign currency translation loss, net of tax	(57.5)					(5.9)	(51.6)
Unrealized foreign currency derivative contract loss, net of tax	(89.8)					(3.1)	(86.7)
Unrealized gain on marketable securities	0.1					0.1
Preferred stock dividends	(1.1)				(1.1)
Common stock dividends	(32)				(32)
Net (loss) income	18.2				(8)		26.2
Acquisition of Kennedy Wilson Europe (KWE) shares from noncontrolling interest holders	(67.9)						(67.9)
Acquisition of noncontrolling interests from consolidated entity	0			(1.5)			1.5
Contributions from noncontrolling interests, excluding KWE	12.9						12.9
Distributions to noncontrolling interests	(73.5)						(73.5)
Ending balance outstanding (in shares) at Jun. 30, 2016		32,550	112,502,137
Balance end of period at Jun. 30, 2016	$ 2,564.1	$ 0	$ 0	$ 1,216.6	$ (88.1)	$ (56.6)	$ 1,492.2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income		$ 18.2	$ 25.6
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Net gain from sale of real estate		(58.1)	(40.8)
Acquisition-related gain		(8.6)	(57.3)
Depreciation and amortization		97.3	74.6
(Benefit from) provision for deferred income taxes		(6.6)	0.9
Amortization of deferred loan costs		5.2	3.2
Amortization of discount and accretion of premium on issuance of the senior notes and investment debt		(0.5)	(9.2)
Unrealized net gains on derivatives		(6.3)	(1.8)
Income from unconsolidated investments and loan purchases and originations		(32.7)	(32)
Operating distributions from unconsolidated investments		17.9	33.1
Operating distributions from loan purchases and originations		9.1	4.1
Share-based compensation		32.2	14.1
Change in assets and liabilities:
Accounts receivable		(29.7)	(4.2)
Other assets		(14.3)	0.9
Accounts payable, accrued expenses and other liabilities		(12.6)	26.1
Net cash provided by operating activities		10.5	37.3
Cash flows from investing activities:
Additions to loans		(5.3)	(233.5)
Collections of loans		138.8	4.6
Net proceeds from sale of real estate		183.4	504
Purchases of and additions to real estate		(447.5)	(986.7)
Additions to nonrefundable escrow deposits		0	(3.4)
Proceeds from settlement of foreign derivative contracts		25.7	35.8
Purchases of foreign derivative contracts		(3.4)	(5.2)
Investment in marketable securities		(0.7)	0
Proceeds from sale of marketable securities		0	6.2
Distributions from unconsolidated investments		35.2	33.9
Contributions to unconsolidated investments		(45.6)	(128.6)
Net cash used in investing activities		(119.4)	(772.9)
Cash flows from financing activities:
Borrowings under line of credit		100	75
Repayment of line of credit		0	(200)
Borrowings under investment debt		476.5	1,574.4
Repayment of investment debt		(97.5)	(605)
Debt issue costs		(3.7)	(13.1)
Issuance of common stock		0	215
Repurchase and retirement of common stock		(42.8)	(11.3)
Dividends paid		(31)	(23.6)
Acquisition of KWE shares from noncontrolling interest holders		(67.9)	(24.4)
Contributions from noncontrolling interests, excluding KWE		12.9	6.4
Distributions to noncontrolling interests		(73.5)	(183.1)
Net cash provided by financing activities		273	810.3
Effect of currency exchange rate changes on cash and cash equivalents		(39.7)	(19.8)
Net change in cash and cash equivalents	[1]	124.4	54.9
Cash and cash equivalents, beginning of period		731.6	937.7
Cash and cash equivalents, end of period		856	992.6
Supplemental cash flow information:
Interest		80.2	59.7
Income taxes		7.7	2.7
Supplemental disclosure of non-cash investing and financing activities:
Accrued capital expenditures		19.1	5
Dividends declared but not paid on common stock		$ 15.8	$ 13.5
[1]	See discussion of non-cash effects in notes to statement of cash flows.

Consolidated Statements of Cas9

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) $ in Millions	May 19, 2015$ / sharesshares	Jun. 30, 2015USD ($)notes
Acquisition-related gains | $		$ 57.3
IRELAND | KWE [Member]
Number of instruments foreclosed | notes		2
Multifamily and Commercial [Member] | Western United States [Member]
Acquisition-related gains | $		$ 57.3
Cumulative Preferred Stock Subject to Mandatory Redemption [Member] | Series A [Member]
Shares of preferred stock outstanding | shares	100,000
Common Stock [Member]
Number of shares converted | shares	8,554,948
Par value per share | $ / shares	$ 0.0001
Conversion price per share | $ / shares	$ 11.69

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
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 the Company believes 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 six months ended June 30, 2016 and 2015 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, 2016 . 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, 2015 . Throughout this unaudited interim consolidated financial statements “KW Group,” is referenced which is defined 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. "KW," “KWH,” “Kennedy Wilson,” the “Company,” “we,” “our,” or “us” are also referred to which are defined 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. Additionally, the Company invested $145.2 million of cash and contributed $58.3 million of assets acquired by the Company as part of the IPO. KWE completed a follow-on offering during the fourth quarter of 2014 where the Company participated based on its ownership percentage acquiring an additional 4.6 million shares for $75.0 million . Outside of the IPO and follow-on offering, the Company has acquired an additional 8.6 million ordinary shares for $143.0 million and owned approximately 21.6% of KWE’s total issued share capital as of June 30, 2016 . In addition to its investment in KWE, prior to KWE's formation, the Company (along with its equity partners) directly invested in 17 properties and a servicing platform in Europe which had total assets of $820.9 million included in the Company's consolidated balance sheet as of June 30, 2016 . Kennedy Wilson's total equity in these investments was $399.8 million and the Company's weighted average ownership in these investments was 58% as of June 30, 2016 . In addition, throughout these unaudited interim consolidated financial statements, “equity partners” is referred to which is defined as the non-wholly owned subsidiaries that are consolidate in the Company's 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, as amended by Accounting Standards Update ("ASU") 2015-02, 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 Polices and Adoption of New Accounting Pronoucements	6 Months Ended
	Jun. 30, 2016
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, the Company calculates 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 in our consolidated statements of operations. Total performance fees recognized from inception through June 30, 2016 that may be reversed in future periods if there is negative fund performance totaled $25.5 million . Performance fees recognized during the six months ended June 30, 2016 and June 30, 2015 were $9.1 million and $4.0 million , respectively, and the amounts that have not been received are included in accounts receivable - related parties 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 interest is the portion of equity (net assets) in a subsidiary not attributable, directly or indirectly to the Company. These amounts 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 relates to the Company's investment in KWE, which had a corresponding noncontrolling interest balance of $1.3 billion as of June 30, 2016 . 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. At June 30, 2016 , approximately 37% of the Company's investment account is invested through our foreign platforms in their local currencies. Investment level debt is generally incurred in local currencies. 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, the Company enters into hedging transactions, in the form of currency derivative contracts, that are designed to reduce its book equity exposure to foreign currencies. See note 6 for a complete discussion on currency derivative contracts. 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, the Company generally hedges its book equity exposure to changes in foreign currency rates through currency derivative contracts. The Company typically hedges 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—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. The Company has 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 ("ASU 2015-02") . ASU 2015-02 was adopted by the KW Group on January 1, 2016. The new standard 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. The adoption of ASU 2015-02 did not result in any changes to our conclusions regarding the consolidation of investments under the new standard. The Company identified several entities, already consolidated under the previous standard but not considered VIEs, which under the new standard, are considered VIEs and will continue to be consolidated. KWE was determined to be a VIE under the new standard as were eight other less significant consolidated investments, all with the same partner and sharing similar legal structures. However because our analysis concludes that the Company is the primary beneficiary of those entities, they continue to be consolidated. 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. ASU 2015-03 became effective for KW Group beginning January 1, 2016. The adoption of this standard did not have a material impact on the consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. Because the Company's existing operating lease commitments are not material and the accounting for leases by the lessor is substantially unchanged, the Company does not expect the ASU to have a significant impact on its results of operations or financial position. The FASB did not issue any other ASUs during the first six months of 2016 that the Company expects to be applicable and have a material impact on the Company's 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	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
LOAN PURCHASES AND ORIGINATIONS	LOAN PURCHASES AND ORIGINATIONS KW Group's investment in loan purchases and originations was $151.3 million and $299.7 million at June 30, 2016 and December 31, 2015 , respectively. KWE sold a tranche of five loans secured by five assets in the United Kingdom, which had a carrying value of $138.5 million , recognizing a gain of $6.9 million during the first quarter of 2016. Additionally, during the first quarter of 2016, KWH originated a loan secured by a beach-front hotel located in Waimea, Hawaii for $4.5 million . During the second quarter of 2016, a loan held by KWH and secured by a Class A office building in Burbank, CA of approximately $4.9 million was collected in full. KW Group recognized interest income on loans of $3.6 million and $5.8 million during the three and six months ended June 30, 2016 , respectively, and $3.4 million and $8.8 million during the three and six months ended June 30, 2015 , respectively.

Real Estate and In-Place Lease

Real Estate and In-Place Lease Value	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 : June 30, December 31, (Dollars in millions) 2016 2015 Land $ 1,469.2 $ 1,471.5 Buildings 3,986.3 3,905.5 Building improvements 333.9 247.2 In-place lease values 421.5 421.8 6,210.9 6,046.0 Less accumulated depreciation and amortization (316.4 ) (248.5 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,894.5 $ 5,797.5 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 10.2 years at June 30, 2016 . 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 six months ended June 30, 2016 , 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. Two commercial, two multifamily and retail center (5) $ 15.6 $ 70.1 $ 8.4 $ 61.0 $ 2.0 $ 31.0 United Kingdom Portfolio of 10 office properties and one commercial property 39.0 79.2 16.6 — 106.2 28.6 Ireland Two commercial, one multifamily and one development (4) 25.3 84.9 5.8 — 91.6 24.4 Spain One development project and one supermarket (4) 1.9 17.1 0.3 — 15.4 4.0 $ 81.8 $ 251.3 $ 31.1 $ 61.0 $ 215.2 $ 88.0 (1) Excludes acquisition expenses and net other assets. The purchase price allocations for properties acquired during the six months ended June 30, 2016 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) This portfolio of properties was directly acquired and is held by KWE. Kennedy Wilson owns approximately 21.6% of the total issued share capital of KWE as of June 30, 2016 . (5) During the six months ended June 30, 2016 , a property included within this group was accounted for under the equity method. KW Group purchased the equity partners' interests and consolidated the property resulting in acquisition-related gains of $8.6 million . Gains on real estate During the six months ended June 30, 2016 , KW Group sold its investment in a commercial property in the United Kingdom and a commercial property in Ireland, which resulted in a gain of $24.5 million before noncontrolling interest ( $13.3 million net of noncontrolling interests) and KWE sold 19 commercial properties which resulted in a gain of $29.6 million before noncontrolling interest ( $5.4 million net of noncontrolling interests). These gains are presented net as a component of non-operating income (expense) as the properties were treated as businesses at acquisition. Additionally, during the six months ended June 30, 2016 , KW Group sold one condo unit and a vacant lot which resulted in $12.3 million of proceeds from sale, net of costs. Guarantees Kennedy Wilson has certain guarantees associated with loans secured by consolidated assets. As of June 30, 2016 , the maximum potential amount of future payments (undiscounted) Kennedy Wilson could be required to make under the guarantees was approximately $65.5 million which is approximately 1% of investment level debt of Kennedy Wilson and its equity partners. The guarantees expire through 2026 , 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 the Company's evaluation of guarantees under FASB ASC Subtopic 460-10 Estimated Fair Value of Guarantees, the estimated fair value of guarantees made as of June 30, 2016 and December 31, 2015 was immaterial. 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 six months ended June 30, 2016 occurred as of January 1, 2015. Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions, except for per share data) 2016 2015 2016 2015 Pro forma revenues $ 178.8 $ 145.4 $ 355.6 $ 287.9 Pro forma income from unconsolidated subsidiaries 8.1 17.0 27.3 28.2 Pro forma net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders (8.5 ) 32.5 (14.7 ) 30.0 Pro forma net (loss) income per share: Basic $ (0.08 ) $ 0.31 $ (0.13 ) $ 0.31 Diluted $ (0.08 ) $ 0.29 $ (0.13 ) $ 0.29

Unconsolidated Investments

Unconsolidated Investments	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 : June 30, December 31, (Dollars in millions) 2016 2015 Investments in joint ventures $ 453.2 $ 443.6 Investments in loan pool participations — 1.3 Total $ 453.2 $ 444.9 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 June 30, 2016 and December 31, 2015 , Kennedy Wilson's investment in joint ventures totaled $453.2 million and $443.6 million , respectively. The following table details our investments in joint ventures by investment type and geographic location as of June 30, 2016 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 145.4 $ 52.4 $ 11.8 $ 188.1 $ 16.0 $ 413.7 Japan 6.9 — — — — 6.9 United Kingdom — 17.7 — — — 17.7 Spain — — — — 14.9 14.9 Total $ 152.3 $ 70.1 $ 11.8 $ 188.1 $ 30.9 $ 453.2 The following table details our investments in joint ventures by investment type and geographic location as of December 31, 2015 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 144.8 $ 51.4 $ 12.2 $ 180.1 $ 13.2 $ 401.7 Japan 5.8 — — — — 5.8 United Kingdom — 23.3 — — — 23.3 Spain — — — — 12.8 12.8 Total $ 150.6 $ 74.7 $ 12.2 $ 180.1 $ 26.0 $ 443.6 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 a 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. As of June 30, 2016 and December 31, 2015 , the carrying value in VHH was $83.6 million and $84.3 million , respectively. 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 total of $13.3 million in fair value gains through equity income. The fair values gains were driven by recapitalizations through refinancings, sales to new partnerships, new developments to the portfolio and unrealized developer fees. Since the investment is accounted for under fair value, operating distributions are recorded as equity income. The Company has recognized $3.1 million in equity income related to operating distributions received during the year. VHH is KW Group's largest joint venture investment; there were no other investments that represented more than 10% of the investment in joint ventures balance as of June 30, 2016 or December 31, 2015 . Contributions to Joint Ventures During the six months ended June 30, 2016 , Kennedy Wilson did not contribute to any new joint ventures. Kennedy Wilson contributed $45.6 million to existing joint ventures during the six months ended June 30, 2016 to fund our share of development projects and for capital expenditures and working capital needs. Distributions from Joint Ventures and Investments in Loan Pools During the six months ended June 30, 2016 , Kennedy Wilson received $53.1 million in operating and investing distributions from its joint ventures and loan pools. Operating distributions resulted from operating cash flow generated by the joint venture investments. Investing distributions resulted from the refinancing of property level debt and asset sales. The following table details cash distributions by investment type and geographic location for the six months ended June 30, 2016 : Multifamily Commercial Loan Pools Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 13.4 $ 22.5 $ 4.1 $ 6.7 $ — $ — $ 0.3 $ 5.3 $ 17.8 $ 34.5 United Kingdom — — — — — 0.7 — — — 0.7 Japan 0.1 — — — — — — — 0.1 — Total $ 13.5 $ 22.5 $ 4.1 $ 6.7 $ — $ 0.7 $ 0.3 $ 5.3 $ 17.9 $ 35.2 Consolidation Considerations The Company determines 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. The Company accounts for joint ventures where it is deemed that the Company does not have control through the equity method of accounting while entities the Company controls are consolidated in KW Group's financial statements. Capital Commitments As of June 30, 2016 , Kennedy Wilson had unfulfilled capital commitments totaling $43.2 million to four of its joint ventures. The Company may be called upon to contribute additional capital to joint ventures in satisfaction of such capital commitment obligations.

Fair Value Measurements and the

Fair Value Measurements and the Fair Value Option	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 236.6 $ 236.6 Marketable securities 5.2 — — 5.2 Currency derivative contracts — (41.5 ) — (41.5 ) Total $ 5.2 $ (41.5 ) $ 236.6 $ 200.3 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, 2015 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 223.8 $ 223.8 Marketable securities 5.3 — — 5.3 Currency derivative contracts — 11.7 — 11.7 Total $ 5.3 $ 11.7 $ 223.8 $ 240.8 Marketable Securities Marketable securities include Kennedy Wilson's investment in publicly traded equity securities and fixed income investments. The fixed income portfolio consists mainly of U.S. government and investment grade corporate bonds. 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 29.4 million shares in KWE as the investment is eliminated due to the consolidation of KWE's results in KW Group's consolidated financial statements. Kennedy Wilson's investment in KWE had a market value of approximately $ 374.2 million (cost basis of $ 483.9 million ) based on a per share price of $12.75 at June 30, 2016 . As of June 30, 2016 , the Company had hedged 97% of the foreign currency rate risk of its net investment in KWE through using currency forward contracts and options, with a notional amount of £295.2 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 $39.3 million and $30.6 million at June 30, 2016 and December 31, 2015 , respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets. As of June 30, 2016 , Kennedy Wilson had unfunded capital commitments to the Funds in the amount of $39.4 million . Kennedy Wilson elected to use the fair value option ("FV Option") for ten 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 $197.3 million and $193.2 million at June 30, 2016 and December 31, 2015 , respectively, which is included in unconsolidated investments in the accompanying balance sheets. Refer to Note 5 for more detail. In estimating fair value of real estate held by the Funds and the ten FV Option investments, the Company considers 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) June 30, December 31, 2015 FV Option $ 197.3 $ 193.2 Funds 39.3 30.6 Total $ 236.6 $ 223.8 The following table presents changes in Level 3 investments for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Beginning balance $ 234.8 $ 89.6 $ 223.8 $ 85.9 Unrealized and realized gains 9.0 13.0 26.6 18.2 Unrealized and realized losses — (0.1 ) — (0.1 ) Contributions 4.3 89.3 20.1 91.2 Distributions (12.0 ) (5.2 ) (34.9 ) (8.3 ) Other 0.5 — 1.0 (0.3 ) Ending balance $ 236.6 $ 186.6 $ 236.6 $ 186.6 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 5.00% - 9.00% 7.00% - 15.00% Retail 6.25% - 8.75% 7.50% - 13.00% Multifamily 5.25% - 7.75% 8.00% - 9.75% Loan n/a 20.00% Land and condominium units n/a 8.00% - 15.00% In valuing indebtedness the Company considers 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 4.52% . 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 capitalization 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 the Company has 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 June 30, 2016 , KW Group assessed the significance of the impact of the counterparty valuation adjustments on the overall valuation of its derivative positions and determined that the counterparty valuation adjustments are not significant to the overall valuation of its derivative. As a result, the Company has determined that our derivative valuation 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. Ineffective portions of currency derivative contracts and contracts that do not quality for net investment hedges are recognized in the statement of operations within other income. The fair value of the currency derivative contracts held as of June 30, 2016 and December 31, 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 June 30, 2016 and the activity during the six months ended June 30, 2016 : (Dollars in millions) June 30, 2016 Six Months Ended June 30, 2016 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized Gains (Losses) Realized Gains (Losses) Cash Received (Paid) Outstanding EUR USD € 130.0 $ 0.3 $ (0.9 ) $ (0.1 ) $ — $ — EUR (1) GBP € 360.0 0.3 (59.9 ) (63.1 ) — — EUR (1)(2) GBP — — (45.5 ) — — GBP USD £302.7 18.7 (0.4 ) 13.4 1.0 (3.4 ) Yen USD ¥ 757.0 — (0.7 ) (0.7 ) — — Total Outstanding 19.3 (61.9 ) (96.0 ) 1.0 (3.4 ) Settled EUR (3) USD — — (0.7 ) 0.7 — GBP (4) USD 1.1 — 4.9 5.9 25.7 Total Settled 1.1 — 4.2 6.6 25.7 Total 20.4 (61.9 ) (91.8 ) 7.6 22.3 Noncontrolling interests (0.2 ) 46.9 86.7 — — Total - Kennedy Wilson share $ 20.2 $ (15.0 ) $ (5.1 ) $ 7.6 $ 22.3 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 8. (3) Underlying investment was sold by KW Group. Historical amounts within other comprehensive income were reclassified to the statement of operations at time of sale. (4) Hedge contract was settled as of June 30, 2016 but Company received the cash subsequent to period end. The gains recognized through other comprehensive income will remain in accumulated other comprehensive income until the underlying investments they were hedging are substantially liquidated by KW Group. 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. Debt liabilities are accounted for at face value plus net unamortized debt premiums and any fair value adjustments as part of business combinations. The fair value as of June 30, 2016 and December 31, 2015 for the senior notes payable, investment debt and line of credit were estimated to be approximately $4.8 billion and $4.3 billion , 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 $ 4.7 billion and $4.4 billion at June 30, 2016 and December 31, 2015 , respectively. The inputs used to value our senior notes payable, borrowings under lines of credit and mortgage loans payable 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	6 Months Ended
	Jun. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following: (Dollars in millions) June 30, 2016 December 31, 2015 Above-market leases, net of accumulated amortization of $24.0 and $19.6 at June 30, 2016 and December 31, 2015, respectively $ 92.4 $ 103.3 Other, net of accumulated amortization of $4.5 and $3.1 at June 30, 2016 and December 31, 2015, respectively 47.2 40.4 Deferred tax asset, net 32.6 22.2 Office furniture and equipment net of accumulated depreciation of $20.9 and $14.0 at June 30, 2016 and December 31, 2015, respectively 26.2 27.9 Goodwill 24.0 23.9 Hedge assets 20.4 30.9 Prepaid expenses 12.2 10.1 Marketable securities (1) 5.2 4.3 Deposits 2.0 4.2 Other Assets $ 262.2 $ 267.2 (1) The amount above excludes Kennedy Wilson's 29.4 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 June 30, 2016 , the fair value of Kennedy Wilson's investment in KWE is $374.2 million .

Investment Debt

Investment Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
INVESTMENT DEBT	INVESTMENT DEBT Investment debt at June 30, 2016 and December 31, 2015 consists of the following: (Dollars in millions) Carrying Amount of Investment Debt as of (1) Investment Debt by Product Type Region June 30, December 31, Mortgage debt Multifamily (1) Western U.S. $ 893.7 $ 835.2 Commercial Western U.S. 315.1 286.4 Residential, Hotel and Other Western U.S 39.2 39.4 Commercial Japan 2.3 2.0 Commercial (1)(2) Ireland 354.9 380.3 Multifamily (1)(2) Ireland 190.7 187.1 Residential and Other (1)(2) Ireland 16.9 7.3 Hotel Ireland 79.7 78.2 Residential and Other (1)(2) Spain 3.4 3.4 Commercial (2) Spain 96.5 — Commercial (1)(2) United Kingdom 845.8 976.2 Secured investment debt 2,838.2 2,795.5 Unsecured investment debt (1)(2) United Kingdom 1,096.8 862.7 Investment debt (excluding loan fees) $ 3,935.0 $ 3,658.2 Unamortized loan fees (28.7 ) (30.7 ) Total Investment debt $ 3,906.3 $ 3,627.5 (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 discounts as of June 30, 2016 and December 31, 2015 was $2.7 million and $5.4 million , respectively. (2) Kennedy Wilson owned approximately 21.6% and 18.2% of the total issued share capital of KWE as of June 30, 2016 and December 31, 2015 , respectively. See the table below for a detailed breakout. (Dollars in millions) Carrying amount of investment debt as of (1) Types of Property Pledged as Collateral (KWE) Region June 30, December 31, Commercial (1)(2) Ireland 274.1 286.7 Multifamily (1)(2) Ireland 52.5 51.5 Residential and Other (1)(2) Spain 3.4 3.4 Commercial (1)(2) Spain 96.4 — Commercial (1)(2) United Kingdom 775.4 897.9 Investment debt $ 1,201.8 $ 1,239.5 Unsecured (1)(2) United Kingdom 1,096.8 862.7 Investment debt (excluding loan fees) $ 2,298.6 $ 2,102.2 Unamortized loan fees (17.9 ) (19.4 ) Total Investment debt $ 2,280.7 $ 2,082.8 (1) The mortgage loan payable balances include unamortized debt premiums (discounts). Debt premiums (discounts) 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 discount as of June 30, 2016 and December 31, 2015 was $(9.7) million and $(13.6) million , respectively. (2) Kennedy Wilson owned approximately 21.6% and 18.2% of the total issued share capital of KWE as of June 30, 2016 and December 31, 2015 , respectively. The investment debt had a weighted average interest rate of 3.15% and 3.19% per annum at June 30, 2016 and December 31, 2015 , respectively. As of June 30, 2016 , 65% of KW Group's investment level debt is fixed rate, 18% is floating rate with interest caps and 17% is floating rate without interest caps, compared to 67% fixed rate, 17% floating rate with interest caps and 16% floating rate without interest caps, as of December 31, 2015 . During the second quarter of 2015, KWE completed its inaugural bond offering of approximately $398.0 million (based on June 30, 2016 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 $392.5 million at June 30, 2016 . 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. In addition, during the fourth quarter of 2015, KWE established a £2.0 billion (approximately $2.7 billion based on June 30, 2016 rates) Euro Medium Term Note ("EMTN") Programme. Under the EMTN Programme, KWE may issue, from time to time, up to £2.0 billion of various types of debt securities in certain markets and currencies. During the fourth quarter of 2015 and second quarter of 2016, KWE drew down under its EMTN Programme, with the issuances of senior unsecured notes for an aggregate principal amount of approximately $609.0 million (based on June 30, 2016 rates) ( €550 million ) (the "KWE Notes"). The KWE Notes were issued at a discount and have a carrying value of $604.8 million with an annual fixed coupon of 3.25% , and mature in 2025 . As KWE invests proceeds from the KWE Notes to fund equity investments in new euro denominated assets KWE designates the KWE Notes as net investment hedges under FASB ASC Topic 815. Subsequent fluctuations in foreign currency rates that impact the carrying value of the KWE Notes are recorded to accumulated other comprehensive income. During the six months ended June 30, 2016 , KW Group recognized a loss of $45.5 million in accumulated other comprehensive income due to the strengthening of the euro against the GBP during the period. The KWE Notes rank pari passu with the KWE Bonds (as defined below), and are subject to the same restrictive covenants. The trust deed that governs the bonds contains 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 June 30, 2016 , 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 $298.5 million ( £225 million ) based on rates as of June 30, 2016 . During the six months ended June 30, 2016 , one draw was made on the KWE facility. As of June 30, 2016 , there was $99.5 million ( £75 million ) outstanding under the unsecured credit facility, and $199.0 million ( £150 million ) unsecured credit facility was still available based on rates as of June 30, 2016 . During the six months ended June 30, 2016 , one mortgage loan was consolidated, three acquisitions were partially financed with mortgages, two existing mortgages were refinanced, two properties acquired supplemental financing, and two existing investments that closed all equity were subsequently partially financed with mortgages. See note 4 for more detail on the acquisitions and the investment debt associated with them. The aggregate maturities of investment debt subsequent to June 30, 2016 are as follows: (Dollars in millions) Aggregate Maturities 2016 $ 122.3 2017 191.5 2018 225.3 2019 787.1 2020 241.9 Thereafter 2,369.6 3,937.7 Debt discount (2.7 ) Unamortized loan fees (28.7 ) $ 3,906.3

Senior Notes

Senior Notes	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
SENIOR NOTES	SENIOR NOTES June 30, 2016 December 31, 2015 (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 (2.3 ) 647.7 650.0 (2.4 ) 647.6 Senior Notes $ 705.0 $ (2.3 ) $ 702.7 $ 705.0 $ (2.4 ) $ 702.6 Unamortized loan fees (13.3 ) (13.8 ) Total Senior Notes $ 689.4 $ 688.8 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 June 30, 2016 , the maximum balance sheet leverage ratio was 0.75 to 1.00. See Note 15 for the guarantor and non-guarantor financial statements.

Borrowings Under Lines of Credi

Borrowings Under Lines of Credit	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
BORROWINGS UNDER LINES OF CREDIT	BORROWINGS UNDER LINES OF CREDIT KWH Facility On December 10, 2015, Kennedy-Wilson, Inc. (the “Borrower”), a wholly-owned subsidiary of Kennedy-Wilson Holdings, Inc. ("KWH") entered into a $475 million unsecured revolving credit facility (the “KW Revolving Facility”) with a syndicate of lenders including Bank of America, N.A., JP Morgan Chase Bank, N.A., Deutsche Bank AG New York Branch, U.S. Bank N.A., East West Bank, Fifth Third Bank, The Governor and Company of the Bank of Ireland, Compass Bank and City National Bank with Bank of America, N.A., as administrative agent and letter of credit issuer. Loans under the KW Revolving Facility bear interest at a rate equal to LIBOR plus 2.50% or 3.00% , depending on the consolidated leverage ratio as of the applicable measurement date, and have a maturity date of December 10, 2018. Subject to certain conditions precedent and at the Borrower’s option, the maturity date of the KW Revolving Facility may be extended by one year . The KW Revolving Facility has certain covenants that, among other things, limit the Borrower and certain of its subsidiaries’ ability to incur additional indebtedness, repurchase capital stock or debt, sell assets or subsidiary stock, create or permit liens on assets, engage in transactions with affiliates, enter into sale/leaseback transactions, issue subsidiary equity and enter into consolidations or mergers. The credit agreement that governs the KW Revolving Facility requires the Borrower to maintain (i) a maximum consolidated leverage ratio (as defined in the credit agreement) of not greater than 65% , measured as of the last day of each fiscal quarter, (ii) a minimum fixed charge coverage ratio (as defined in the credit agreement) of not less than 1.60 to 1.00, measured as of the last day of each fiscal quarter for the period of four full fiscal quarters then ended, (iii) a minimum consolidated tangible net worth equal to or greater than the sum of $920,660,504.65 plus an amount equal to fifty percent ( 50% ) of net equity proceeds received by the Borrower after the date of September 30, 2015 financial statements, measured as of the last day of each fiscal quarter, (iv) a maximum recourse leverage ratio (as defined in the credit agreement) of not greater than an amount equal to consolidated tangible net worth as of the measurement date multiplied by 1.5 , measured as of the last day of each fiscal quarter, (v) a maximum secured recourse leverage ratio (as defined in the credit agreement) of not greater than an amount equal to the greater of 3.5% of consolidated total asset value (as defined in the credit agreement) and $138,187,197 , (vi) a maximum adjusted secured leverage ratio (as defined in the credit agreement) of not greater than 55% , measured as of the last day of each fiscal quarter, and (vii) liquidity (as defined in the credit agreement) of at least $250 million . As of June 30, 2016 , the Borrower’s consolidated leverage ratio was 57.8% , its fixed charge coverage ratio was 3.2 to 1.00, its consolidated tangible net worth was $1,238.1 million , its adjusted secured leverage ratio was 42.7% , its secured recourse leverage ratio was 1.6% , its recourse leverage ratio was 0.70 , and liquidity was $621.0 million . The obligations of the Borrower pursuant to the Credit Agreement are guaranteed by KWH and certain of its wholly-owned subsidiaries. During the six months ended June 30, 2016 , the Borrower drew $100.0 million and repaid $0.0 million on its unsecured credit facility to fund acquisitions. The maximum amount drawn on the unsecured credit facility at any one point during the six months ended June 30, 2016 was $100.0 million . As of June 30, 2016 , there was $100.0 million outstanding under the unsecured credit facility, and $375.0 million was still available. As of December 31, 2015 , there was $ 0.0 million outstanding under the unsecured facility, and $475.0 million was still available.

Equity

Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
EQUITY	EQUITY Common Stock Repurchase Program On February 25, 2016, Kennedy Wilson announced the authorization of a stock repurchase program for up to $100 million . Repurchases under the program may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases depending on market conditions and subject to the Company's discretion. During the six months ended June 30, 2016 , Kennedy Wilson repurchased and retired 1,421,252 shares for $28.0 million under the stock repurchase program. Dividend Distributions During the following periods, Kennedy Wilson declared and paid the following cash distributions on its common and preferred stock: Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 (Dollars in millions) Declared Paid Declared Paid Preferred Stock Series A (1) $ — $ — $ 1.5 $ 1.5 Series B 1.1 1.1 1.1 1.1 Total Preferred Stock 1.1 1.1 2.6 2.6 Common Stock 32.0 29.9 25.9 21.0 Total (2) $ 33.1 $ 31.0 $ 28.5 $ 23.6 (1) The decrease in Series A dividends during the current year is due to the conversion of the Series A preferred stock into common shares during the second quarter of 2015. (2) The difference between declared and paid is the amount accrued on the consolidated balance sheets. Share-based Compensation During the three months ended June 30, 2016 and 2015 , KW Group recognized $14.7 million and $6.8 million of compensation expense related to the vesting of restricted stock grants. During the six months ended June 30, 2016 and 2015 , KW Group recognized $32.2 million and $14.1 million of compensation expense related to the vesting of restricted stock grants. The increase for the three and six months ended June 30, 2016 is mainly due to 60% of expense incurred April 2016 to March 2017 due to March 2017 vesting of shares granted during 2012 under the Amended and Restated 2009 Equity Participation Plan as well as shares granted during the fourth quarter of 2015. 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, 2015 $ (69.9 ) $ 22.4 $ (0.2 ) $ (47.7 ) Unrealized (loss) gains, arising during the period (65.6 ) (91.1 ) 0.2 (156.5 ) Noncontrolling interest 51.6 86.7 — 138.3 Amounts reclassified out of AOCI during the period, gross 5.2 (0.7 ) — 4.5 Amounts reclassified out of AOCI during the period, tax (2.1 ) 0.3 — (1.8 ) Taxes on unrealized gains (losses), arising during the period 5.0 1.7 (0.1 ) 6.6 Balance at June 30, 2016 $ (75.8 ) $ 19.3 $ (0.1 ) $ (56.6 ) The local 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 six months ended June 30, 2016 . 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, the Company is required under U.S. GAAP to consolidate certain non-wholly owned subsidiaries or investments that it controls. As such, the Company's 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, the Company is 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 June 30, 2016 and December 31, 2015 KW Group had noncontrolling interest of $1.5 billion and $1.7 billion , respectively. Kennedy Wilson currently owns approximately 21.6% of KWE’s total issued share capital as of June 30, 2016 . The noncontrolling interest holders in KWE had an equity balance of $1.3 billion as of June 30, 2016 . 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	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE In accordance with 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. The Company only presents 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 six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions, except share and per share amounts) 2016 2015 2016 2015 Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (1.6 ) $ 31.2 $ (9.1 ) $ 27.7 Dividends allocated to participating securities (0.5 ) (1.3 ) (1.0 ) (1.3 ) Net loss (income) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities (2.1 ) 29.9 (10.1 ) 26.4 Dividends declared on common shares (15.4 ) (13.0 ) (31.0 ) (24.7 ) Undistributed (losses) earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ (17.5 ) $ 16.9 $ (41.1 ) $ 1.7 Distributed earnings per share $ 0.14 $ 0.12 $ 0.28 $ 0.24 Undistributed (losses) earnings per share (0.16 ) 0.17 (0.37 ) 0.03 (Loss) income per basic (0.02 ) 0.29 (0.09 ) 0.27 (Loss) income per diluted $ (0.02 ) $ 0.27 $ (0.09 ) $ 0.27 Weighted average shares outstanding for basic 109,056,941 103,721,472 109,136,241 97,669,080 Weighted average shares outstanding for diluted (1) 109,056,941 111,428,358 109,136,241 103,936,881 Dividends declared per common share $ 0.14 $ 0.12 $ 0.28 $ 0.24 (1) For the three and six months ended June 30, 2016 , a total of 3,388,573 and 3,332,013 potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive. For the three and six months ended June 30, 2015 , a total of 0 and 3,129,918 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	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Kennedy Wilson is a global real estate investment company. The Company owns, operates, and invests in real estate both on its own and through our investment management platform. To complement its investment business, the Company also provides real estate services primarily to financial services clients. Kennedy Wilson’s segment disclosure with respect to the determination of segment profit or loss and segment assets is based on these two core segments: KW Investments and KW Investment Management and Real Estate Services (IMRES). KW Investments KW Investments invests in multifamily, office, retail, and residential properties as well as loans secured by real estate in the Western U.S., United Kingdom, Ireland, Spain, Italy and Japan. The Company has an average ownership interest across all investments of approximately 39% as of June 30, 2016 . When it has partners, those partners include public shareholders, financial institutions, foundations, endowments, high net worth individuals and other institutional investors. In these instances, the Company is typically the general partner in the arrangement with a promoted interests in the profits of its investments beyond the Company's ownership percentage. These promoted interest are typically fees earned by IMRES as described below. KW Investment Management and Real Estate Services (IMRES) IMRES encompasses the Company fee generating businesses which includes both our investment management platform as well as the Company's third party services business. The Company's clients include shareholders of KWE, financial institutions, institutional investors, insurance companies, developers, builders and government agencies. IMRES has five main lines of business: investment management, property services, research, brokerage, and auction and conventional sales. These five business lines generate revenue for us through fees and commissions. The Company manages approximately 61 million square feet of properties for the Company and its investment partners (including KWE) in the United States, Europe, and Asia, which includes assets the Company has ownership interests in and third party owned assets. With 25 offices throughout the United States, the United Kingdom, Ireland, Jersey, Spain, Italy and Japan, we have the capabilities and resources to provide investment management and property services to real estate owners as well as the experience, as a real estate investor, to understand client concerns. The managers of IMRES have an extensive track record in their respective lines of business and in the real estate community as a whole. Additionally, IMRES plays a critical role in supporting our 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 six months ended June 30, 2016 and 2015 and balance sheet data as of June 30, 2016 and December 31, 2015 : Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Investments Rental $ 120.3 $ 98.3 $ 240.2 $ 188.7 Hotel 26.8 23.3 55.9 46.7 Sale of real estate 12.3 — 14.2 2.1 Loan purchases, loan originations and other 3.6 3.4 5.8 8.8 Total revenue 163.0 125.0 316.1 246.3 Operating expenses (86.1 ) (73.7 ) (161.3 ) (133.5 ) Depreciation and amortization (48.9 ) (38.0 ) (97.3 ) (74.6 ) Income from unconsolidated investments 7.2 15.9 25.3 25.6 Operating income 35.2 29.2 82.8 63.8 Gain on sale of real estate 16.1 34.5 54.5 40.1 Acquisition-related gains 8.6 53.1 8.6 57.3 Acquisition-related expenses (6.3 ) (2.0 ) (8.4 ) (20.1 ) Interest expense - investments (33.6 ) (27.2 ) (66.1 ) (46.6 ) Other 5.0 2.8 5.7 3.6 Income before provision for income taxes 25.0 90.4 77.1 98.1 Provision for income taxes (3.2 ) — (4.2 ) — Net income 21.8 90.4 72.9 98.1 Net (income) loss attributable to the noncontrolling interests 1.2 2.8 (26.2 ) 4.2 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 23.0 $ 93.2 $ 46.7 $ 102.3 Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Investment Management and Real Estate Services Investment management, property services and research fees (includes $6.5, $9.2, $17.5 and $18.7 of related party fees, respectively) $ 13.5 $ 15.5 $ 32.6 $ 31.9 Total revenue 13.5 15.5 32.6 31.9 Operating expenses (13.5 ) (13.7 ) (29.4 ) (28.1 ) Income from unconsolidated investments 1.2 1.1 2.3 2.6 Operating income 1.2 2.9 5.5 6.4 Net income (loss) attributable to the noncontrolling interests — (1.0 ) — 0.4 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 1.2 $ 1.9 $ 5.5 $ 6.8 Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Corporate Operating expenses $ (20.1 ) $ (16.5 ) $ (43.5 ) $ (27.1 ) Operating loss (20.1 ) (16.5 ) (43.5 ) (27.1 ) Interest expense-corporate (12.2 ) (10.8 ) (24.3 ) (23.8 ) Loss before provision for income taxes (32.3 ) (27.3 ) (67.8 ) (50.9 ) Provision for (benefit from) income taxes 7.1 (36.1 ) 7.6 (28.0 ) Net loss (25.2 ) (63.4 ) (60.2 ) (78.9 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (0.6 ) (1.1 ) (2.6 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (25.7 ) $ (64.0 ) $ (61.3 ) $ (81.5 ) Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Consolidated Rental $ 120.3 $ 98.3 $ 240.2 $ 188.7 Hotel 26.8 23.3 55.9 46.7 Sale of real estate 12.3 — 14.2 2.1 Investment management, property services and research fees (includes $6.5, $9.2, $17.5 and $18.7 of related party fees) 13.5 15.5 32.6 31.9 Loans and other 3.6 3.4 5.8 8.8 Total revenue 176.5 140.5 348.7 278.2 Operating expenses (119.7 ) (103.9 ) (234.2 ) (188.7 ) Depreciation and amortization (48.9 ) (38.0 ) (97.3 ) (74.6 ) Total operating expenses (168.6 ) (141.9 ) (331.5 ) (263.3 ) Income from unconsolidated investments 8.4 17.0 27.6 28.2 Operating income 16.3 15.6 44.8 43.1 Gain on sale of real estate 16.1 34.5 54.5 40.1 Acquisition-related gain 8.6 53.1 8.6 57.3 Acquisition-related expenses (6.3 ) (2.0 ) (8.4 ) (20.1 ) Interest expense - investment (33.6 ) (27.2 ) (66.1 ) (46.6 ) Interest expense - corporate (12.2 ) (10.8 ) (24.3 ) (23.8 ) Other 5.0 2.8 5.7 3.6 (Loss) income before benefit from income taxes (6.1 ) 66.0 14.8 53.6 Provision for (benefit from) income taxes 3.9 (36.1 ) 3.4 (28.0 ) Net (loss) income (2.2 ) 29.9 18.2 25.6 Net loss (income) attributable to the noncontrolling interests 1.1 1.9 (26.2 ) 4.7 Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (0.6 ) (1.1 ) (2.6 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (1.6 ) $ 31.2 $ (9.1 ) $ 27.7 (Dollars in millions) June 30, 2016 December 31, 2015 Total Assets Investments $ 7,474.1 $ 7,418.6 Investment management and real estate services 85.0 58.1 Corporate 137.2 118.9 Total assets $ 7,696.3 $ 7,595.6

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES In determining quarterly provisions for income taxes, the Company calculates income tax expense based on actual year-to-date income and statutory tax rates. The year-to-date income tax expense also reflects the Company's assessment of potential exposure for uncertain tax positions. The fluctuations between periods in the Company's income tax expense are mainly due to varying levels of income and amounts attributable to foreign sourced income and noncontrolling interests. During the six months ended June 30, 2016 , KW Group generated pretax book income of $14.8 million related to its global operations, and recorded a tax benefit of $3.4 million . The difference between the U.S. federal rate of 35% and the Company's effective rate is primarily attributable to income earned by noncontrolling interests which is generally not subject to corporate taxes. In addition, during the quarter ended March 31, 2016, the Company's effective tax rate was favorably impacted by capital gains realized from the sale of real estate in the United Kingdom and Ireland, the majority of which was not subject to corporate taxes. During the three months ended June 30, 2016, the Company also released valuation allowance as new evidence indicates that it is more likely than not certain net operating losses in the United Kingdom will be realizable. The Company has subsidiaries in the United Kingdom, Ireland, Luxembourg, Spain and Jersey which manage the Company's European real estate investments. The Company also has subsidiaries that operates a hotel businesses in Ireland and Scotland. As of June 30, 2016 , two of the Company's subsidiaries in Ireland have positive, accumulated earnings of $4.6 million . U.S. domestic taxes have not been provided on amounts earned by such Irish companies since it is the Company's plan to indefinitely reinvest amounts earned by these subsidiaries. If these earnings were repatriated to the United States, additional U.S. domestic taxes of $1.0 million would be incurred.

Guarantor and Non-Guarantor Fin

Guarantor and Non-Guarantor Financial Statements	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 ; consolidating statements of operations for the three and six months ended June 30, 2016 and 2015 ; consolidating statements of comprehensive income for the three and six months ended June 30, 2016 and 2015 ; and condensed consolidating statements of cash flows for the six months ended June 30, 2016 and 2015 , 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 six months ended June 30, 2016 or 2015 . CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 71.1 $ 28.7 $ 83.7 $ — $ 183.5 Cash held by consolidated investments — — — 672.5 — 672.5 Accounts receivable — — 38.8 40.3 — 79.1 Loan purchases and originations — 42.4 11.9 97.0 — 151.3 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,173.2 4,721.3 — 5,894.5 Unconsolidated investments — 17.4 302.5 133.3 — 453.2 Investments in and advances to consolidated subsidiaries 1,087.7 1,914.5 1,179.3 — (4,181.5 ) — Other assets — 3.2 33.3 225.7 — 262.2 Total assets $ 1,087.7 $ 2,048.6 $ 2,767.7 $ 5,973.8 $ (4,181.5 ) $ 7,696.3 Liabilities and equity Liabilities Accounts payable $ — $ 0.5 $ 2.2 $ 14.8 $ — $ 17.5 Accrued expenses and other liabilities 15.8 171.0 155.8 76.4 — 419.0 Investment debt — — 695.2 3,211.1 — 3,906.3 Senior notes payable — 689.4 — — — 689.4 Line of credit — 100.0 — — — 100.0 Total liabilities 15.8 960.9 853.2 3,302.3 — 5,132.2 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,071.9 1,087.7 1,914.5 1,179.3 (4,181.5 ) 1,071.9 Noncontrolling interests — — — 1,492.2 — 1,492.2 Total equity 1,071.9 1,087.7 1,914.5 2,671.5 (4,181.5 ) 2,564.1 Total liabilities and equity $ 1,087.7 $ 2,048.6 $ 2,767.7 $ 5,973.8 $ (4,181.5 ) $ 7,696.3 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 80.2 $ 37.0 $ 65.4 $ — $ 182.6 Cash held by consolidated investments — — — 549.0 — 549.0 Accounts receivable — — 30.2 24.5 — 54.7 Loan purchases and originations — 79.4 12.2 245.9 (37.8 ) 299.7 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,017.5 4,780.0 — 5,797.5 Unconsolidated investments — 14.6 292.6 137.7 — 444.9 Investments in and advances to consolidated subsidiaries 1,148.0 1,898.9 1,185.4 0.2 (4,232.5 ) — Other assets — 3.9 30.2 233.1 — 267.2 Total assets $ 1,148.0 $ 2,077.0 $ 2,605.1 $ 6,035.8 $ (4,270.3 ) $ 7,595.6 Liabilities Accounts payable $ — $ 0.5 $ 2.5 $ 19.2 $ — 22.2 Accrued expense and other liabilities 14.0 239.7 118.8 19.5 — 392.0 Investment debt — — 584.9 3,080.4 (37.8 ) 3,627.5 Senior notes payable — 688.8 — — — 688.8 Total liabilities 14.0 929.0 706.2 3,119.1 (37.8 ) 4,730.5 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,134.0 1,148.0 1,898.9 1,185.4 (4,232.5 ) 1,133.8 Noncontrolling interests — — — 1,731.3 — 1,731.3 Total equity 1,134.0 1,148.0 1,898.9 2,916.7 (4,232.5 ) 2,865.1 Total liabilities and equity $ 1,148.0 $ 2,077.0 $ 2,605.1 $ 6,035.8 $ (4,270.3 ) $ 7,595.6 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services and research fees $ — $ — $ 12.9 $ 0.6 $ — $ 13.5 Rental — — 26.3 94.0 — 120.3 Hotel — — — 26.8 — 26.8 Sale of real estate — — 9.7 2.6 — 12.3 Loan purchases, loan originations and other — — 0.3 3.3 — 3.6 Total revenue — — 49.2 127.3 — 176.5 Operating expenses Commission and marketing — — 1.5 0.3 — 1.8 Rental operating — — 12.2 20.6 — 32.8 Hotel operating — — — 23.6 — 23.6 Cost of real estate sold — — 7.2 2.0 — 9.2 Compensation and related 14.8 11.7 12.3 1.7 — 40.5 General and administrative — 3.6 3.9 4.3 — 11.8 Depreciation and amortization — 0.3 8.8 39.8 — 48.9 Total operating expenses 14.8 15.6 45.9 92.3 — 168.6 Income from unconsolidated subsidiaries — 0.7 3.0 4.7 — 8.4 Income from consolidated subsidiaries 12.6 30.4 28.8 — (71.8 ) — Operating income (loss) (2.2 ) 15.5 35.1 39.7 (71.8 ) 16.3 Non-operating income (expense) Acquisition-related gains — — — 8.6 — 8.6 Acquisition-related expenses — — (1.1 ) (5.2 ) — (6.3 ) Interest expense-investment — — (5.6 ) (28.0 ) — (33.6 ) Interest expense-corporate — (12.2 ) — — — (12.2 ) Gain on sale of real estate — — — 16.1 — 16.1 Other income / (expense) — 6.0 (0.1 ) (0.9 ) — 5.0 Income (loss) before benefit from income taxes (2.2 ) 9.3 28.3 30.3 (71.8 ) (6.1 ) (Provision for) benefit from income taxes — 3.3 2.1 (1.5 ) — 3.9 Net income (loss) (2.2 ) 12.6 30.4 28.8 (71.8 ) (2.2 ) Net (income) loss attributable to the noncontrolling interests — — — 1.1 — 1.1 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. (2.2 ) 12.6 30.4 29.9 (71.8 ) (1.1 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (2.7 ) $ 12.6 $ 30.4 $ 29.9 $ (71.8 ) $ (1.6 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 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 $ 0.8 $ — $ 15.5 Rental — — 13.1 85.2 — 98.3 Hotel — — — 23.3 — 23.3 Sale of real estate — — (0.1 ) 0.1 — — Loan purchases, loan originations and other — — 0.4 3.0 — 3.4 Total revenue — — 28.1 112.4 — 140.5 Operating expenses Commission and marketing — 1.0 0.6 0.2 — 1.8 Rental operating — — 3.3 21.2 — 24.5 Hotel operating — — — 21.8 — 21.8 Cost of real estate sold — — — — — — Compensation and related 6.8 23.7 11.4 2.1 — 44.0 General and administrative — 4.1 4.2 3.5 — 11.8 Depreciation and amortization — 0.2 3.3 34.5 — 38.0 Total operating expenses 6.8 29.0 22.8 83.3 — 141.9 Income from unconsolidated investments, net of depreciation and amortization — 0.6 8.7 7.7 — 17.0 Income from consolidated subsidiaries 36.7 92.2 81.1 — (210.0 ) — Operating income (loss) 29.9 63.8 95.1 36.8 (210.0 ) 15.6 Non-operating income (expense) Acquisition-related gains — — — 53.1 — 53.1 Acquisition-related expense — (0.3 ) (0.2 ) (1.5 ) — (2.0 ) Interest expense-investment — — (2.8 ) (24.4 ) — (27.2 ) Interest expense-corporate — (11.5 ) — 0.7 — (10.8 ) Gain (loss) on sale of real estate — — — 34.5 — 34.5 Other income / (expense) — (1.3 ) (0.1 ) 4.2 — 2.8 Income (loss) before benefit from income taxes 29.9 50.7 92.0 103.4 (210.0 ) 66.0 (Provision for) benefit from income taxes — (13.9 ) — (22.2 ) — (36.1 ) Net income (loss) 29.9 36.8 92.0 81.2 (210.0 ) 29.9 Net (income) loss attributable to the noncontrolling interests — — — 1.9 — 1.9 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 29.9 36.8 92.0 83.1 (210.0 ) 31.8 Preferred dividends and accretion of preferred stock issuance costs (0.6 ) — — — — (0.6 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 29.3 $ 36.8 $ 92.0 $ 83.1 $ (210.0 ) $ 31.2 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ (2.2 ) $ 12.6 $ 30.4 $ 28.8 $ (71.8 ) $ (2.2 ) Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (82.8 ) (82.8 ) (10.9 ) (82.5 ) 176.2 (82.8 ) Unrealized loss on marketable securities — — — — — — Amounts reclassified out of AOCI during the period 2.7 2.7 — 2.7 (5.4 ) 2.7 Unrealized currency derivative contracts gain (loss) (39.3 ) (39.3 ) 10.9 (50.2 ) 78.5 (39.4 ) Total other comprehensive (loss) income for the period $ (119.4 ) $ (119.4 ) $ — $ (130.0 ) $ 249.3 $ (119.5 ) Comprehensive (loss) income $ (121.6 ) $ (106.8 ) $ 30.4 $ (101.2 ) $ 177.5 $ (121.7 ) Comprehensive loss attributable to noncontrolling interests — — — 110.6 — 110.6 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (121.6 ) $ (106.8 ) $ 30.4 $ 9.4 $ 177.5 $ (11.1 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ 29.9 $ 36.8 $ 92.0 $ 81.2 $ (210.0 ) $ 29.9 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains 68.7 68.7 33.7 135.3 (237.7 ) 68.7 Amounts reclassified out of AOCI during the period 10.3 10.3 — 10.3 (20.6 ) 10.3 Unrealized currency derivative contracts (loss) gain (3.3 ) (3.3 ) (23.8 ) 20.4 6.6 (3.4 ) Total other comprehensive income for the period $ 75.7 $ 75.7 $ 9.9 $ 166.0 $ (251.7 ) $ 75.6 Comprehensive (loss) income $ 105.6 $ 112.5 $ 101.9 $ 247.2 $ (461.7 ) $ 105.5 Comprehensive (income) loss attributable to noncontrolling interests — — — (58.9 ) — (58.9 ) Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ 105.6 $ 112.5 $ 101.9 $ 188.3 $ (461.7 ) $ 46.6 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ (0.2 ) $ (138.3 ) $ 56.3 $ 92.7 $ 10.5 Cash flows from investing activities: Additions to loans — (0.8 ) (4.5 ) — (5.3 ) Collections of loans — — 4.9 133.9 138.8 Net proceeds from sale of real estate — — 3.4 180.0 183.4 Purchases of and additions to real estate — — (51.5 ) (396.0 ) (447.5 ) Additions to nonrefundable escrow deposits — — — — — Proceeds from settlement of foreign derivative contracts — 25.7 — — 25.7 Purchases of foreign derivative contracts — (3.4 ) — — (3.4 ) Investment in marketable securities — — (0.7 ) — (0.7 ) Distributions from unconsolidated investments — — 13.5 21.7 35.2 Contributions to unconsolidated investments — (1.0 ) (32.7 ) (11.9 ) (45.6 ) (Investments in) distributions from consolidated subsidiaries, net 74.0 8.9 (44.4 ) (38.5 ) — Net cash provided by investing activities 74.0 29.4 (112.0 ) (110.8 ) (119.4 ) Cash flows from financing activities: Borrowings under line of credit — 100.0 — — 100.0 Borrowings under investment debt — — 66.4 410.1 476.5 Repayment of investment debt — — (18.4 ) (79.1 ) (97.5 ) Debt issue costs — (0.2 ) (0.6 ) (2.9 ) (3.7 ) Repurchase and retirement of common stock (42.8 ) — — — (42.8 ) Dividends paid (31.0 ) — — — (31.0 ) Acquisition of KWE shares from noncontrolling interest holders — — — (67.9 ) (67.9 ) Contributions from noncontrolling interests, excluding KWE — — — 12.9 12.9 Distributions to noncontrolling interests — — — (73.5 ) (73.5 ) Net cash (used in) provided by financing activities (73.8 ) 99.8 47.4 199.6 273.0 Effect of currency exchange rate changes on cash and cash equivalents — — — (39.7 ) (39.7 ) Net change in cash and cash equivalents — (9.1 ) (8.3 ) 141.8 124.4 Cash and cash equivalents, beginning of period — 80.2 37.0 614.4 731.6 Cash and cash equivalents, end of period $ — $ 71.1 $ 28.7 $ 756.2 $ 856.0 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided (used in) by operating activities $ (0.6 ) $ 100.5 $ 39.7 $ (102.3 ) $ 37.3 Cash flows from investing activities: Additions to loans — (38.7 ) — (194.8 ) (233.5 ) Collections of loans — — 3.0 1.6 4.6 Net proceeds from sale of real estate — — — 504.0 504.0 Purchases of and additions to real estate — — (62.9 ) (923.8 ) (986.7 ) Additions to nonrefundable escrow deposits — — — (3.4 ) (3.4 ) Proceeds from settlement of foreign derivative contracts — 17.9 — 17.9 35.8 Purchases of foreign derivative contracts — (3.6 ) — (1.6 ) (5.2 ) Proceeds from sale of marketable securities — — 6.2 — 6.2 Distributions from unconsolidated investments — — 13.5 20.4 33.9 Contributions to unconsolidated investments — (1.5 ) (43.9 ) (83.2 ) (128.6 ) (Investments in) distributions from consolidated subsidiaries, net (179.5 ) 18.4 (8.2 ) 169.3 — Net cash (used in) provided by investing activities (179.5 ) (7.5 ) (92.3 ) (493.6 ) (772.9 ) Cash flows from financing activities: Borrowings under line of credit — 75.0 — — 75.0 Repayment of lines of credit — (200.0 ) — — (200.0 ) Borrowings under investment debt — — 54.0 1,520.4 1,574.4 Repayment of investment debt — — (2.3 ) (602.7 ) (605.0 ) Debt issue costs — (0.6 ) (0.5 ) (12.0 ) (13.1 ) Issuance of common stock 215.0 — — — 215.0 Repurchase and retirement of common stock (11.3 ) — — — (11.3 ) Dividends paid (23.6 ) — — — (23.6 ) Acquisition of KWE shares from noncontrolling interest holders — — — (24.4 ) (24.4 ) Contributions from noncontrolling interests, excluding KWE — — — 6.4 6.4 Distributions to noncontrolling interests — — — (183.1 ) (183.1 ) Net cash provided by (used in) financing activities 180.1 (125.6 ) 51.2 704.6 810.3 Effect of currency exchange rate changes on cash and cash equivalents — — — (19.8 ) (19.8 ) Net change in cash and cash equivalents — (32.6 ) (1.4 ) 88.9 54.9 Cash and cash equivalents, beginning of period — 38.2 21.0 878.5 937.7 Cash and cash equivalents, end of period $ — $ 5.6 $ 19.6 $ 967.4 $ 992.6

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Subsequent to June 30, 2016, the Company wholly acquired a 430 -unit multifamily property in the Seattle suburb of Auburn, Washington for $81 million . The Company invested $19 million of equity (inclusive of closing costs) in the transaction. During the same period, the Company and its equity partners sold two multifamily properties totaling 680 units located in northern California in separate transactions for gross sales proceeds of $206.5 million . Kennedy Wilson received $23.6 million in net proceeds (including promoted interests). The Company evaluated subsequent events through the date these financial statements were issued.

Summary of Significant Accoun26

Summary of Significant Accounting Polices and Adoption of New Accounting Pronoucements (Policies)	6 Months Ended
	Jun. 30, 2016
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, the Company calculates 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 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 interest is the portion of equity (net assets) in a subsidiary not attributable, directly or indirectly to the Company. These amounts 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 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, the Company generally hedges its book equity exposure to changes in foreign currency rates through currency derivative contracts. The Company typically hedges 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	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. The Company has 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 ("ASU 2015-02") . ASU 2015-02 was adopted by the KW Group on January 1, 2016. The new standard 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. The adoption of ASU 2015-02 did not result in any changes to our conclusions regarding the consolidation of investments under the new standard. The Company identified several entities, already consolidated under the previous standard but not considered VIEs, which under the new standard, are considered VIEs and will continue to be consolidated. KWE was determined to be a VIE under the new standard as were eight other less significant consolidated investments, all with the same partner and sharing similar legal structures. However because our analysis concludes that the Company is the primary beneficiary of those entities, they continue to be consolidated. 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. ASU 2015-03 became effective for KW Group beginning January 1, 2016. The adoption of this standard did not have a material impact on the consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. Because the Company's existing operating lease commitments are not material and the accounting for leases by the lessor is substantially unchanged, the Company does not expect the ASU to have a significant impact on its results of operations or financial position. The FASB did not issue any other ASUs during the first six months of 2016 that the Company expects to be applicable and have a material impact on the Company's 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 Leas27

Real Estate and In-Place Lease Value (Tables)	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 : June 30, December 31, (Dollars in millions) 2016 2015 Land $ 1,469.2 $ 1,471.5 Buildings 3,986.3 3,905.5 Building improvements 333.9 247.2 In-place lease values 421.5 421.8 6,210.9 6,046.0 Less accumulated depreciation and amortization (316.4 ) (248.5 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,894.5 $ 5,797.5
Schedule of Business Acquisitions, by Acquisition	During the six months ended June 30, 2016 , 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. Two commercial, two multifamily and retail center (5) $ 15.6 $ 70.1 $ 8.4 $ 61.0 $ 2.0 $ 31.0 United Kingdom Portfolio of 10 office properties and one commercial property 39.0 79.2 16.6 — 106.2 28.6 Ireland Two commercial, one multifamily and one development (4) 25.3 84.9 5.8 — 91.6 24.4 Spain One development project and one supermarket (4) 1.9 17.1 0.3 — 15.4 4.0 $ 81.8 $ 251.3 $ 31.1 $ 61.0 $ 215.2 $ 88.0 (1) Excludes acquisition expenses and net other assets. The purchase price allocations for properties acquired during the six months ended June 30, 2016 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) This portfolio of properties was directly acquired and is held by KWE. Kennedy Wilson owns approximately 21.6% of the total issued share capital of KWE as of June 30, 2016 . (5) During the six months ended June 30, 2016 , a property included within this group was accounted for under the equity method. KW Group purchased the equity partners' interests and consolidated the property resulting in acquisition-related gains of $8.6 million .
Business Acquisition, Pro Forma Information	The pro forma data presented below assumes that the acquisitions during the three and six months ended June 30, 2016 occurred as of January 1, 2015. Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions, except for per share data) 2016 2015 2016 2015 Pro forma revenues $ 178.8 $ 145.4 $ 355.6 $ 287.9 Pro forma income from unconsolidated subsidiaries 8.1 17.0 27.3 28.2 Pro forma net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders (8.5 ) 32.5 (14.7 ) 30.0 Pro forma net (loss) income per share: Basic $ (0.08 ) $ 0.31 $ (0.13 ) $ 0.31 Diluted $ (0.08 ) $ 0.29 $ (0.13 ) $ 0.29

Unconsolidated Investments (Tab

Unconsolidated Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Unconsolidated Joint Ventures	The following table details its investments in joint ventures and loan pool participations as of June 30, 2016 and December 31, 2015 : June 30, December 31, (Dollars in millions) 2016 2015 Investments in joint ventures $ 453.2 $ 443.6 Investments in loan pool participations — 1.3 Total $ 453.2 $ 444.9
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 June 30, 2016 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 145.4 $ 52.4 $ 11.8 $ 188.1 $ 16.0 $ 413.7 Japan 6.9 — — — — 6.9 United Kingdom — 17.7 — — — 17.7 Spain — — — — 14.9 14.9 Total $ 152.3 $ 70.1 $ 11.8 $ 188.1 $ 30.9 $ 453.2 The following table details our investments in joint ventures by investment type and geographic location as of December 31, 2015 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 144.8 $ 51.4 $ 12.2 $ 180.1 $ 13.2 $ 401.7 Japan 5.8 — — — — 5.8 United Kingdom — 23.3 — — — 23.3 Spain — — — — 12.8 12.8 Total $ 150.6 $ 74.7 $ 12.2 $ 180.1 $ 26.0 $ 443.6
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 six months ended June 30, 2016 : Multifamily Commercial Loan Pools Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 13.4 $ 22.5 $ 4.1 $ 6.7 $ — $ — $ 0.3 $ 5.3 $ 17.8 $ 34.5 United Kingdom — — — — — 0.7 — — — 0.7 Japan 0.1 — — — — — — — 0.1 — Total $ 13.5 $ 22.5 $ 4.1 $ 6.7 $ — $ 0.7 $ 0.3 $ 5.3 $ 17.9 $ 35.2

Fair Value Measurements and t29

Fair Value Measurements and the Fair Value Option (Tables)	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 236.6 $ 236.6 Marketable securities 5.2 — — 5.2 Currency derivative contracts — (41.5 ) — (41.5 ) Total $ 5.2 $ (41.5 ) $ 236.6 $ 200.3 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, 2015 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 223.8 $ 223.8 Marketable securities 5.3 — — 5.3 Currency derivative contracts — 11.7 — 11.7 Total $ 5.3 $ 11.7 $ 223.8 $ 240.8
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) June 30, December 31, 2015 FV Option $ 197.3 $ 193.2 Funds 39.3 30.6 Total $ 236.6 $ 223.8
Schedule of Changes in Level 3 Investments	The following table presents changes in Level 3 investments for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Beginning balance $ 234.8 $ 89.6 $ 223.8 $ 85.9 Unrealized and realized gains 9.0 13.0 26.6 18.2 Unrealized and realized losses — (0.1 ) — (0.1 ) Contributions 4.3 89.3 20.1 91.2 Distributions (12.0 ) (5.2 ) (34.9 ) (8.3 ) Other 0.5 — 1.0 (0.3 ) Ending balance $ 236.6 $ 186.6 $ 236.6 $ 186.6
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 5.00% - 9.00% 7.00% - 15.00% Retail 6.25% - 8.75% 7.50% - 13.00% Multifamily 5.25% - 7.75% 8.00% - 9.75% Loan n/a 20.00% Land and condominium units n/a 8.00% - 15.00%
Schedule of Currency Forward Contracts	The table below details the currency derivative contracts KW Group held as of June 30, 2016 and the activity during the six months ended June 30, 2016 : (Dollars in millions) June 30, 2016 Six Months Ended June 30, 2016 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized Gains (Losses) Realized Gains (Losses) Cash Received (Paid) Outstanding EUR USD € 130.0 $ 0.3 $ (0.9 ) $ (0.1 ) $ — $ — EUR (1) GBP € 360.0 0.3 (59.9 ) (63.1 ) — — EUR (1)(2) GBP — — (45.5 ) — — GBP USD £302.7 18.7 (0.4 ) 13.4 1.0 (3.4 ) Yen USD ¥ 757.0 — (0.7 ) (0.7 ) — — Total Outstanding 19.3 (61.9 ) (96.0 ) 1.0 (3.4 ) Settled EUR (3) USD — — (0.7 ) 0.7 — GBP (4) USD 1.1 — 4.9 5.9 25.7 Total Settled 1.1 — 4.2 6.6 25.7 Total 20.4 (61.9 ) (91.8 ) 7.6 22.3 Noncontrolling interests (0.2 ) 46.9 86.7 — — Total - Kennedy Wilson share $ 20.2 $ (15.0 ) $ (5.1 ) $ 7.6 $ 22.3 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 8. (3) Underlying investment was sold by KW Group. Historical amounts within other comprehensive income were reclassified to the statement of operations at time of sale. (4) Hedge contract was settled as of June 30, 2016 but Company received the cash subsequent to period end.

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: (Dollars in millions) June 30, 2016 December 31, 2015 Above-market leases, net of accumulated amortization of $24.0 and $19.6 at June 30, 2016 and December 31, 2015, respectively $ 92.4 $ 103.3 Other, net of accumulated amortization of $4.5 and $3.1 at June 30, 2016 and December 31, 2015, respectively 47.2 40.4 Deferred tax asset, net 32.6 22.2 Office furniture and equipment net of accumulated depreciation of $20.9 and $14.0 at June 30, 2016 and December 31, 2015, respectively 26.2 27.9 Goodwill 24.0 23.9 Hedge assets 20.4 30.9 Prepaid expenses 12.2 10.1 Marketable securities (1) 5.2 4.3 Deposits 2.0 4.2 Other Assets $ 262.2 $ 267.2 (1) The amount above excludes Kennedy Wilson's 29.4 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 June 30, 2016 , the fair value of Kennedy Wilson's investment in KWE is $374.2 million .

Investment Debt (Tables)

Investment Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Mortgage Loans and Notes Payable	Investment debt at June 30, 2016 and December 31, 2015 consists of the following: (Dollars in millions) Carrying Amount of Investment Debt as of (1) Investment Debt by Product Type Region June 30, December 31, Mortgage debt Multifamily (1) Western U.S. $ 893.7 $ 835.2 Commercial Western U.S. 315.1 286.4 Residential, Hotel and Other Western U.S 39.2 39.4 Commercial Japan 2.3 2.0 Commercial (1)(2) Ireland 354.9 380.3 Multifamily (1)(2) Ireland 190.7 187.1 Residential and Other (1)(2) Ireland 16.9 7.3 Hotel Ireland 79.7 78.2 Residential and Other (1)(2) Spain 3.4 3.4 Commercial (2) Spain 96.5 — Commercial (1)(2) United Kingdom 845.8 976.2 Secured investment debt 2,838.2 2,795.5 Unsecured investment debt (1)(2) United Kingdom 1,096.8 862.7 Investment debt (excluding loan fees) $ 3,935.0 $ 3,658.2 Unamortized loan fees (28.7 ) (30.7 ) Total Investment debt $ 3,906.3 $ 3,627.5 (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 discounts as of June 30, 2016 and December 31, 2015 was $2.7 million and $5.4 million , respectively. (2) Kennedy Wilson owned approximately 21.6% and 18.2% of the total issued share capital of KWE as of June 30, 2016 and December 31, 2015 , respectively. See the table below for a detailed breakout. (Dollars in millions) Carrying amount of investment debt as of (1) Types of Property Pledged as Collateral (KWE) Region June 30, December 31, Commercial (1)(2) Ireland 274.1 286.7 Multifamily (1)(2) Ireland 52.5 51.5 Residential and Other (1)(2) Spain 3.4 3.4 Commercial (1)(2) Spain 96.4 — Commercial (1)(2) United Kingdom 775.4 897.9 Investment debt $ 1,201.8 $ 1,239.5 Unsecured (1)(2) United Kingdom 1,096.8 862.7 Investment debt (excluding loan fees) $ 2,298.6 $ 2,102.2 Unamortized loan fees (17.9 ) (19.4 ) Total Investment debt $ 2,280.7 $ 2,082.8 (1) The mortgage loan payable balances include unamortized debt premiums (discounts). Debt premiums (discounts) 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 discount as of June 30, 2016 and December 31, 2015 was $(9.7) million and $(13.6) million , respectively. (2) Kennedy Wilson owned approximately 21.6% and 18.2% of the total issued share capital of KWE as of June 30, 2016 and December 31, 2015 , respectively. June 30, 2016 December 31, 2015 (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 (2.3 ) 647.7 650.0 (2.4 ) 647.6 Senior Notes $ 705.0 $ (2.3 ) $ 702.7 $ 705.0 $ (2.4 ) $ 702.6 Unamortized loan fees (13.3 ) (13.8 ) Total Senior Notes $ 689.4 $ 688.8
Schedule of Maturities of Mortgage Loans and Notes Payable	The aggregate maturities of investment debt subsequent to June 30, 2016 are as follows: (Dollars in millions) Aggregate Maturities 2016 $ 122.3 2017 191.5 2018 225.3 2019 787.1 2020 241.9 Thereafter 2,369.6 3,937.7 Debt discount (2.7 ) Unamortized loan fees (28.7 ) $ 3,906.3

Senior Notes (Tables)

Senior Notes (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Senior Notes	Investment debt at June 30, 2016 and December 31, 2015 consists of the following: (Dollars in millions) Carrying Amount of Investment Debt as of (1) Investment Debt by Product Type Region June 30, December 31, Mortgage debt Multifamily (1) Western U.S. $ 893.7 $ 835.2 Commercial Western U.S. 315.1 286.4 Residential, Hotel and Other Western U.S 39.2 39.4 Commercial Japan 2.3 2.0 Commercial (1)(2) Ireland 354.9 380.3 Multifamily (1)(2) Ireland 190.7 187.1 Residential and Other (1)(2) Ireland 16.9 7.3 Hotel Ireland 79.7 78.2 Residential and Other (1)(2) Spain 3.4 3.4 Commercial (2) Spain 96.5 — Commercial (1)(2) United Kingdom 845.8 976.2 Secured investment debt 2,838.2 2,795.5 Unsecured investment debt (1)(2) United Kingdom 1,096.8 862.7 Investment debt (excluding loan fees) $ 3,935.0 $ 3,658.2 Unamortized loan fees (28.7 ) (30.7 ) Total Investment debt $ 3,906.3 $ 3,627.5 (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 discounts as of June 30, 2016 and December 31, 2015 was $2.7 million and $5.4 million , respectively. (2) Kennedy Wilson owned approximately 21.6% and 18.2% of the total issued share capital of KWE as of June 30, 2016 and December 31, 2015 , respectively. See the table below for a detailed breakout. (Dollars in millions) Carrying amount of investment debt as of (1) Types of Property Pledged as Collateral (KWE) Region June 30, December 31, Commercial (1)(2) Ireland 274.1 286.7 Multifamily (1)(2) Ireland 52.5 51.5 Residential and Other (1)(2) Spain 3.4 3.4 Commercial (1)(2) Spain 96.4 — Commercial (1)(2) United Kingdom 775.4 897.9 Investment debt $ 1,201.8 $ 1,239.5 Unsecured (1)(2) United Kingdom 1,096.8 862.7 Investment debt (excluding loan fees) $ 2,298.6 $ 2,102.2 Unamortized loan fees (17.9 ) (19.4 ) Total Investment debt $ 2,280.7 $ 2,082.8 (1) The mortgage loan payable balances include unamortized debt premiums (discounts). Debt premiums (discounts) 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 discount as of June 30, 2016 and December 31, 2015 was $(9.7) million and $(13.6) million , respectively. (2) Kennedy Wilson owned approximately 21.6% and 18.2% of the total issued share capital of KWE as of June 30, 2016 and December 31, 2015 , respectively. June 30, 2016 December 31, 2015 (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 (2.3 ) 647.7 650.0 (2.4 ) 647.6 Senior Notes $ 705.0 $ (2.3 ) $ 702.7 $ 705.0 $ (2.4 ) $ 702.6 Unamortized loan fees (13.3 ) (13.8 ) Total Senior Notes $ 689.4 $ 688.8

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2016
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: Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 (Dollars in millions) Declared Paid Declared Paid Preferred Stock Series A (1) $ — $ — $ 1.5 $ 1.5 Series B 1.1 1.1 1.1 1.1 Total Preferred Stock 1.1 1.1 2.6 2.6 Common Stock 32.0 29.9 25.9 21.0 Total (2) $ 33.1 $ 31.0 $ 28.5 $ 23.6 (1) The decrease in Series A dividends during the current year is due to the conversion of the Series A preferred stock into common shares during the second quarter of 2015. (2) The difference between declared and paid is the amount accrued on the consolidated balance sheets.
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, 2015 $ (69.9 ) $ 22.4 $ (0.2 ) $ (47.7 ) Unrealized (loss) gains, arising during the period (65.6 ) (91.1 ) 0.2 (156.5 ) Noncontrolling interest 51.6 86.7 — 138.3 Amounts reclassified out of AOCI during the period, gross 5.2 (0.7 ) — 4.5 Amounts reclassified out of AOCI during the period, tax (2.1 ) 0.3 — (1.8 ) Taxes on unrealized gains (losses), arising during the period 5.0 1.7 (0.1 ) 6.6 Balance at June 30, 2016 $ (75.8 ) $ 19.3 $ (0.1 ) $ (56.6 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
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 six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions, except share and per share amounts) 2016 2015 2016 2015 Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (1.6 ) $ 31.2 $ (9.1 ) $ 27.7 Dividends allocated to participating securities (0.5 ) (1.3 ) (1.0 ) (1.3 ) Net loss (income) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities (2.1 ) 29.9 (10.1 ) 26.4 Dividends declared on common shares (15.4 ) (13.0 ) (31.0 ) (24.7 ) Undistributed (losses) earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ (17.5 ) $ 16.9 $ (41.1 ) $ 1.7 Distributed earnings per share $ 0.14 $ 0.12 $ 0.28 $ 0.24 Undistributed (losses) earnings per share (0.16 ) 0.17 (0.37 ) 0.03 (Loss) income per basic (0.02 ) 0.29 (0.09 ) 0.27 (Loss) income per diluted $ (0.02 ) $ 0.27 $ (0.09 ) $ 0.27 Weighted average shares outstanding for basic 109,056,941 103,721,472 109,136,241 97,669,080 Weighted average shares outstanding for diluted (1) 109,056,941 111,428,358 109,136,241 103,936,881 Dividends declared per common share $ 0.14 $ 0.12 $ 0.28 $ 0.24 (1) For the three and six months ended June 30, 2016 , a total of 3,388,573 and 3,332,013 potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive. For the three and six months ended June 30, 2015 , a total of 0 and 3,129,918 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)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize income activity by segment and corporate for the three and six months ended June 30, 2016 and 2015 and balance sheet data as of June 30, 2016 and December 31, 2015 : Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Investments Rental $ 120.3 $ 98.3 $ 240.2 $ 188.7 Hotel 26.8 23.3 55.9 46.7 Sale of real estate 12.3 — 14.2 2.1 Loan purchases, loan originations and other 3.6 3.4 5.8 8.8 Total revenue 163.0 125.0 316.1 246.3 Operating expenses (86.1 ) (73.7 ) (161.3 ) (133.5 ) Depreciation and amortization (48.9 ) (38.0 ) (97.3 ) (74.6 ) Income from unconsolidated investments 7.2 15.9 25.3 25.6 Operating income 35.2 29.2 82.8 63.8 Gain on sale of real estate 16.1 34.5 54.5 40.1 Acquisition-related gains 8.6 53.1 8.6 57.3 Acquisition-related expenses (6.3 ) (2.0 ) (8.4 ) (20.1 ) Interest expense - investments (33.6 ) (27.2 ) (66.1 ) (46.6 ) Other 5.0 2.8 5.7 3.6 Income before provision for income taxes 25.0 90.4 77.1 98.1 Provision for income taxes (3.2 ) — (4.2 ) — Net income 21.8 90.4 72.9 98.1 Net (income) loss attributable to the noncontrolling interests 1.2 2.8 (26.2 ) 4.2 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 23.0 $ 93.2 $ 46.7 $ 102.3 Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Investment Management and Real Estate Services Investment management, property services and research fees (includes $6.5, $9.2, $17.5 and $18.7 of related party fees, respectively) $ 13.5 $ 15.5 $ 32.6 $ 31.9 Total revenue 13.5 15.5 32.6 31.9 Operating expenses (13.5 ) (13.7 ) (29.4 ) (28.1 ) Income from unconsolidated investments 1.2 1.1 2.3 2.6 Operating income 1.2 2.9 5.5 6.4 Net income (loss) attributable to the noncontrolling interests — (1.0 ) — 0.4 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 1.2 $ 1.9 $ 5.5 $ 6.8 Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Corporate Operating expenses $ (20.1 ) $ (16.5 ) $ (43.5 ) $ (27.1 ) Operating loss (20.1 ) (16.5 ) (43.5 ) (27.1 ) Interest expense-corporate (12.2 ) (10.8 ) (24.3 ) (23.8 ) Loss before provision for income taxes (32.3 ) (27.3 ) (67.8 ) (50.9 ) Provision for (benefit from) income taxes 7.1 (36.1 ) 7.6 (28.0 ) Net loss (25.2 ) (63.4 ) (60.2 ) (78.9 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (0.6 ) (1.1 ) (2.6 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (25.7 ) $ (64.0 ) $ (61.3 ) $ (81.5 ) Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2016 2015 2016 2015 Consolidated Rental $ 120.3 $ 98.3 $ 240.2 $ 188.7 Hotel 26.8 23.3 55.9 46.7 Sale of real estate 12.3 — 14.2 2.1 Investment management, property services and research fees (includes $6.5, $9.2, $17.5 and $18.7 of related party fees) 13.5 15.5 32.6 31.9 Loans and other 3.6 3.4 5.8 8.8 Total revenue 176.5 140.5 348.7 278.2 Operating expenses (119.7 ) (103.9 ) (234.2 ) (188.7 ) Depreciation and amortization (48.9 ) (38.0 ) (97.3 ) (74.6 ) Total operating expenses (168.6 ) (141.9 ) (331.5 ) (263.3 ) Income from unconsolidated investments 8.4 17.0 27.6 28.2 Operating income 16.3 15.6 44.8 43.1 Gain on sale of real estate 16.1 34.5 54.5 40.1 Acquisition-related gain 8.6 53.1 8.6 57.3 Acquisition-related expenses (6.3 ) (2.0 ) (8.4 ) (20.1 ) Interest expense - investment (33.6 ) (27.2 ) (66.1 ) (46.6 ) Interest expense - corporate (12.2 ) (10.8 ) (24.3 ) (23.8 ) Other 5.0 2.8 5.7 3.6 (Loss) income before benefit from income taxes (6.1 ) 66.0 14.8 53.6 Provision for (benefit from) income taxes 3.9 (36.1 ) 3.4 (28.0 ) Net (loss) income (2.2 ) 29.9 18.2 25.6 Net loss (income) attributable to the noncontrolling interests 1.1 1.9 (26.2 ) 4.7 Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (0.6 ) (1.1 ) (2.6 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (1.6 ) $ 31.2 $ (9.1 ) $ 27.7 (Dollars in millions) June 30, 2016 December 31, 2015 Total Assets Investments $ 7,474.1 $ 7,418.6 Investment management and real estate services 85.0 58.1 Corporate 137.2 118.9 Total assets $ 7,696.3 $ 7,595.6

Guarantor and Non-Guarantor F36

Guarantor and Non-Guarantor Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2016
Guarantor and Nonguarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 71.1 $ 28.7 $ 83.7 $ — $ 183.5 Cash held by consolidated investments — — — 672.5 — 672.5 Accounts receivable — — 38.8 40.3 — 79.1 Loan purchases and originations — 42.4 11.9 97.0 — 151.3 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,173.2 4,721.3 — 5,894.5 Unconsolidated investments — 17.4 302.5 133.3 — 453.2 Investments in and advances to consolidated subsidiaries 1,087.7 1,914.5 1,179.3 — (4,181.5 ) — Other assets — 3.2 33.3 225.7 — 262.2 Total assets $ 1,087.7 $ 2,048.6 $ 2,767.7 $ 5,973.8 $ (4,181.5 ) $ 7,696.3 Liabilities and equity Liabilities Accounts payable $ — $ 0.5 $ 2.2 $ 14.8 $ — $ 17.5 Accrued expenses and other liabilities 15.8 171.0 155.8 76.4 — 419.0 Investment debt — — 695.2 3,211.1 — 3,906.3 Senior notes payable — 689.4 — — — 689.4 Line of credit — 100.0 — — — 100.0 Total liabilities 15.8 960.9 853.2 3,302.3 — 5,132.2 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,071.9 1,087.7 1,914.5 1,179.3 (4,181.5 ) 1,071.9 Noncontrolling interests — — — 1,492.2 — 1,492.2 Total equity 1,071.9 1,087.7 1,914.5 2,671.5 (4,181.5 ) 2,564.1 Total liabilities and equity $ 1,087.7 $ 2,048.6 $ 2,767.7 $ 5,973.8 $ (4,181.5 ) $ 7,696.3 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 80.2 $ 37.0 $ 65.4 $ — $ 182.6 Cash held by consolidated investments — — — 549.0 — 549.0 Accounts receivable — — 30.2 24.5 — 54.7 Loan purchases and originations — 79.4 12.2 245.9 (37.8 ) 299.7 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,017.5 4,780.0 — 5,797.5 Unconsolidated investments — 14.6 292.6 137.7 — 444.9 Investments in and advances to consolidated subsidiaries 1,148.0 1,898.9 1,185.4 0.2 (4,232.5 ) — Other assets — 3.9 30.2 233.1 — 267.2 Total assets $ 1,148.0 $ 2,077.0 $ 2,605.1 $ 6,035.8 $ (4,270.3 ) $ 7,595.6 Liabilities Accounts payable $ — $ 0.5 $ 2.5 $ 19.2 $ — 22.2 Accrued expense and other liabilities 14.0 239.7 118.8 19.5 — 392.0 Investment debt — — 584.9 3,080.4 (37.8 ) 3,627.5 Senior notes payable — 688.8 — — — 688.8 Total liabilities 14.0 929.0 706.2 3,119.1 (37.8 ) 4,730.5 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,134.0 1,148.0 1,898.9 1,185.4 (4,232.5 ) 1,133.8 Noncontrolling interests — — — 1,731.3 — 1,731.3 Total equity 1,134.0 1,148.0 1,898.9 2,916.7 (4,232.5 ) 2,865.1 Total liabilities and equity $ 1,148.0 $ 2,077.0 $ 2,605.1 $ 6,035.8 $ (4,270.3 ) $ 7,595.6
Consolidating Statement of Operations	CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services and research fees $ — $ — $ 12.9 $ 0.6 $ — $ 13.5 Rental — — 26.3 94.0 — 120.3 Hotel — — — 26.8 — 26.8 Sale of real estate — — 9.7 2.6 — 12.3 Loan purchases, loan originations and other — — 0.3 3.3 — 3.6 Total revenue — — 49.2 127.3 — 176.5 Operating expenses Commission and marketing — — 1.5 0.3 — 1.8 Rental operating — — 12.2 20.6 — 32.8 Hotel operating — — — 23.6 — 23.6 Cost of real estate sold — — 7.2 2.0 — 9.2 Compensation and related 14.8 11.7 12.3 1.7 — 40.5 General and administrative — 3.6 3.9 4.3 — 11.8 Depreciation and amortization — 0.3 8.8 39.8 — 48.9 Total operating expenses 14.8 15.6 45.9 92.3 — 168.6 Income from unconsolidated subsidiaries — 0.7 3.0 4.7 — 8.4 Income from consolidated subsidiaries 12.6 30.4 28.8 — (71.8 ) — Operating income (loss) (2.2 ) 15.5 35.1 39.7 (71.8 ) 16.3 Non-operating income (expense) Acquisition-related gains — — — 8.6 — 8.6 Acquisition-related expenses — — (1.1 ) (5.2 ) — (6.3 ) Interest expense-investment — — (5.6 ) (28.0 ) — (33.6 ) Interest expense-corporate — (12.2 ) — — — (12.2 ) Gain on sale of real estate — — — 16.1 — 16.1 Other income / (expense) — 6.0 (0.1 ) (0.9 ) — 5.0 Income (loss) before benefit from income taxes (2.2 ) 9.3 28.3 30.3 (71.8 ) (6.1 ) (Provision for) benefit from income taxes — 3.3 2.1 (1.5 ) — 3.9 Net income (loss) (2.2 ) 12.6 30.4 28.8 (71.8 ) (2.2 ) Net (income) loss attributable to the noncontrolling interests — — — 1.1 — 1.1 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. (2.2 ) 12.6 30.4 29.9 (71.8 ) (1.1 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (2.7 ) $ 12.6 $ 30.4 $ 29.9 $ (71.8 ) $ (1.6 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 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 $ 0.8 $ — $ 15.5 Rental — — 13.1 85.2 — 98.3 Hotel — — — 23.3 — 23.3 Sale of real estate — — (0.1 ) 0.1 — — Loan purchases, loan originations and other — — 0.4 3.0 — 3.4 Total revenue — — 28.1 112.4 — 140.5 Operating expenses Commission and marketing — 1.0 0.6 0.2 — 1.8 Rental operating — — 3.3 21.2 — 24.5 Hotel operating — — — 21.8 — 21.8 Cost of real estate sold — — — — — — Compensation and related 6.8 23.7 11.4 2.1 — 44.0 General and administrative — 4.1 4.2 3.5 — 11.8 Depreciation and amortization — 0.2 3.3 34.5 — 38.0 Total operating expenses 6.8 29.0 22.8 83.3 — 141.9 Income from unconsolidated investments, net of depreciation and amortization — 0.6 8.7 7.7 — 17.0 Income from consolidated subsidiaries 36.7 92.2 81.1 — (210.0 ) — Operating income (loss) 29.9 63.8 95.1 36.8 (210.0 ) 15.6 Non-operating income (expense) Acquisition-related gains — — — 53.1 — 53.1 Acquisition-related expense — (0.3 ) (0.2 ) (1.5 ) — (2.0 ) Interest expense-investment — — (2.8 ) (24.4 ) — (27.2 ) Interest expense-corporate — (11.5 ) — 0.7 — (10.8 ) Gain (loss) on sale of real estate — — — 34.5 — 34.5 Other income / (expense) — (1.3 ) (0.1 ) 4.2 — 2.8 Income (loss) before benefit from income taxes 29.9 50.7 92.0 103.4 (210.0 ) 66.0 (Provision for) benefit from income taxes — (13.9 ) — (22.2 ) — (36.1 ) Net income (loss) 29.9 36.8 92.0 81.2 (210.0 ) 29.9 Net (income) loss attributable to the noncontrolling interests — — — 1.9 — 1.9 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 29.9 36.8 92.0 83.1 (210.0 ) 31.8 Preferred dividends and accretion of preferred stock issuance costs (0.6 ) — — — — (0.6 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 29.3 $ 36.8 $ 92.0 $ 83.1 $ (210.0 ) $ 31.2
Consolidated Statement of Comprehensive Income	CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ (2.2 ) $ 12.6 $ 30.4 $ 28.8 $ (71.8 ) $ (2.2 ) Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (82.8 ) (82.8 ) (10.9 ) (82.5 ) 176.2 (82.8 ) Unrealized loss on marketable securities — — — — — — Amounts reclassified out of AOCI during the period 2.7 2.7 — 2.7 (5.4 ) 2.7 Unrealized currency derivative contracts gain (loss) (39.3 ) (39.3 ) 10.9 (50.2 ) 78.5 (39.4 ) Total other comprehensive (loss) income for the period $ (119.4 ) $ (119.4 ) $ — $ (130.0 ) $ 249.3 $ (119.5 ) Comprehensive (loss) income $ (121.6 ) $ (106.8 ) $ 30.4 $ (101.2 ) $ 177.5 $ (121.7 ) Comprehensive loss attributable to noncontrolling interests — — — 110.6 — 110.6 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (121.6 ) $ (106.8 ) $ 30.4 $ 9.4 $ 177.5 $ (11.1 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ 29.9 $ 36.8 $ 92.0 $ 81.2 $ (210.0 ) $ 29.9 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains 68.7 68.7 33.7 135.3 (237.7 ) 68.7 Amounts reclassified out of AOCI during the period 10.3 10.3 — 10.3 (20.6 ) 10.3 Unrealized currency derivative contracts (loss) gain (3.3 ) (3.3 ) (23.8 ) 20.4 6.6 (3.4 ) Total other comprehensive income for the period $ 75.7 $ 75.7 $ 9.9 $ 166.0 $ (251.7 ) $ 75.6 Comprehensive (loss) income $ 105.6 $ 112.5 $ 101.9 $ 247.2 $ (461.7 ) $ 105.5 Comprehensive (income) loss attributable to noncontrolling interests — — — (58.9 ) — (58.9 ) Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ 105.6 $ 112.5 $ 101.9 $ 188.3 $ (461.7 ) $ 46.6
Condensed Consolidated Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ (0.2 ) $ (138.3 ) $ 56.3 $ 92.7 $ 10.5 Cash flows from investing activities: Additions to loans — (0.8 ) (4.5 ) — (5.3 ) Collections of loans — — 4.9 133.9 138.8 Net proceeds from sale of real estate — — 3.4 180.0 183.4 Purchases of and additions to real estate — — (51.5 ) (396.0 ) (447.5 ) Additions to nonrefundable escrow deposits — — — — — Proceeds from settlement of foreign derivative contracts — 25.7 — — 25.7 Purchases of foreign derivative contracts — (3.4 ) — — (3.4 ) Investment in marketable securities — — (0.7 ) — (0.7 ) Distributions from unconsolidated investments — — 13.5 21.7 35.2 Contributions to unconsolidated investments — (1.0 ) (32.7 ) (11.9 ) (45.6 ) (Investments in) distributions from consolidated subsidiaries, net 74.0 8.9 (44.4 ) (38.5 ) — Net cash provided by investing activities 74.0 29.4 (112.0 ) (110.8 ) (119.4 ) Cash flows from financing activities: Borrowings under line of credit — 100.0 — — 100.0 Borrowings under investment debt — — 66.4 410.1 476.5 Repayment of investment debt — — (18.4 ) (79.1 ) (97.5 ) Debt issue costs — (0.2 ) (0.6 ) (2.9 ) (3.7 ) Repurchase and retirement of common stock (42.8 ) — — — (42.8 ) Dividends paid (31.0 ) — — — (31.0 ) Acquisition of KWE shares from noncontrolling interest holders — — — (67.9 ) (67.9 ) Contributions from noncontrolling interests, excluding KWE — — — 12.9 12.9 Distributions to noncontrolling interests — — — (73.5 ) (73.5 ) Net cash (used in) provided by financing activities (73.8 ) 99.8 47.4 199.6 273.0 Effect of currency exchange rate changes on cash and cash equivalents — — — (39.7 ) (39.7 ) Net change in cash and cash equivalents — (9.1 ) (8.3 ) 141.8 124.4 Cash and cash equivalents, beginning of period — 80.2 37.0 614.4 731.6 Cash and cash equivalents, end of period $ — $ 71.1 $ 28.7 $ 756.2 $ 856.0 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided (used in) by operating activities $ (0.6 ) $ 100.5 $ 39.7 $ (102.3 ) $ 37.3 Cash flows from investing activities: Additions to loans — (38.7 ) — (194.8 ) (233.5 ) Collections of loans — — 3.0 1.6 4.6 Net proceeds from sale of real estate — — — 504.0 504.0 Purchases of and additions to real estate — — (62.9 ) (923.8 ) (986.7 ) Additions to nonrefundable escrow deposits — — — (3.4 ) (3.4 ) Proceeds from settlement of foreign derivative contracts — 17.9 — 17.9 35.8 Purchases of foreign derivative contracts — (3.6 ) — (1.6 ) (5.2 ) Proceeds from sale of marketable securities — — 6.2 — 6.2 Distributions from unconsolidated investments — — 13.5 20.4 33.9 Contributions to unconsolidated investments — (1.5 ) (43.9 ) (83.2 ) (128.6 ) (Investments in) distributions from consolidated subsidiaries, net (179.5 ) 18.4 (8.2 ) 169.3 — Net cash (used in) provided by investing activities (179.5 ) (7.5 ) (92.3 ) (493.6 ) (772.9 ) Cash flows from financing activities: Borrowings under line of credit — 75.0 — — 75.0 Repayment of lines of credit — (200.0 ) — — (200.0 ) Borrowings under investment debt — — 54.0 1,520.4 1,574.4 Repayment of investment debt — — (2.3 ) (602.7 ) (605.0 ) Debt issue costs — (0.6 ) (0.5 ) (12.0 ) (13.1 ) Issuance of common stock 215.0 — — — 215.0 Repurchase and retirement of common stock (11.3 ) — — — (11.3 ) Dividends paid (23.6 ) — — — (23.6 ) Acquisition of KWE shares from noncontrolling interest holders — — — (24.4 ) (24.4 ) Contributions from noncontrolling interests, excluding KWE — — — 6.4 6.4 Distributions to noncontrolling interests — — — (183.1 ) (183.1 ) Net cash provided by (used in) financing activities 180.1 (125.6 ) 51.2 704.6 810.3 Effect of currency exchange rate changes on cash and cash equivalents — — — (19.8 ) (19.8 ) Net change in cash and cash equivalents — (32.6 ) (1.4 ) 88.9 54.9 Cash and cash equivalents, beginning of period — 38.2 21.0 878.5 937.7 Cash and cash equivalents, end of period $ — $ 5.6 $ 19.6 $ 967.4 $ 992.6

Basis of Presentation (Details)

Basis of Presentation (Details) shares in Millions, $ in Millions		3 Months Ended	6 Months Ended	27 Months Ended
		Dec. 31, 2014USD ($)shares	Jun. 30, 2016USD ($)Property	Jun. 30, 2016USD ($)Propertyshares	Dec. 31, 2015USD ($)	Mar. 31, 2014USD ($)
Noncontrolling Interest [Line Items]
Acquisition of Kennedy Wilson Europe (KWE) shares from noncontrolling interest holders			$ 67.9
Assets	[1]		7,696.3	$ 7,696.3	$ 7,595.6
KWE [Member]
Noncontrolling Interest [Line Items]
Ordinary shares, initial public offering share subscription, cash						$ 145.2
Ordinary shares, initial public offering share subscription, contribution of assets						$ 58.3
Additional shares acquired (in shares) | shares		4.6		8.6
Acquisition of Kennedy Wilson Europe (KWE) shares from noncontrolling interest holders		$ 75		$ 143
Properties, Loans and Servicing Platform in Europe [Member] | Europe [Member]
Noncontrolling Interest [Line Items]
Assets			$ 820.9	$ 820.9
KWE [Member]
Noncontrolling Interest [Line Items]
Ownership percentage by parent			21.60%	21.60%	18.20%
Properties, Loans and Servicing Platform in Europe [Member]
Noncontrolling Interest [Line Items]
Number of real estate investment properties in Europe | Property			17	17
Properties, Loans and Servicing Platform in Europe [Member] | Europe [Member]
Noncontrolling Interest [Line Items]
Ownership percentage by parent			58.00%	58.00%
Equity in consolidated investments			$ 399.8	$ 399.8
[1]	The assets and liabilities as of June 30, 2016 include $4,966.4 million (including cash held by consolidated investments of $634.0 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,971.3 million) and $2,908.8 million (including investment debt of $2,603.8 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2015 include $4,973.9 million (including cash held by consolidated investments of $507.8 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,955.8 million) and $2,655.1 million (including investment debt of $2,414.0 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Summary of Significant Accoun38

Summary of Significant Accounting Polices and Adoption of New Accounting Pronoucements (Details) $ in Millions	6 Months Ended	102 Months Ended
	Jun. 30, 2016USD ($)entity	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)
Accounting Policies [Abstract]
Accrued performance fees	$ 9.1	$ 9.1		$ 4
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Variable Interest Entity, Number of Entities | entity	8
Negative fund Performance that would cause reversal of performance fees		25.5
Noncontrolling interests	$ 1,492.2	$ 1,492.2	$ 1,731.3
Percentage of investments in foreign platforms	37.00%	37.00%
Minimum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of investments hedged	50.00%	50.00%
Maximum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of investments hedged	100.00%	100.00%
KWE [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Noncontrolling interests	$ 1,300	$ 1,300

Loan Purchases and Originatio39

Loan Purchases and Originations (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)Loanasset	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Loan purchases and originations	$ 151.3			$ 151.3		$ 299.7
Loans acquired				5.3	$ 233.5
Repayment of secured debt				97.5	605
Interest income on loans	3.6		$ 3.4	5.8	$ 8.8
KWE [Member]
Business Acquisition [Line Items]
Number of loans sold | Loan		5
Number of assets securing loans sold | asset		5
Value of loan sold		$ 138.5
Gain on sale of loans		6.9
Repayment of secured debt	4.9
Notes Receivable [Member]
Business Acquisition [Line Items]
Loan purchases and originations	$ 151.3			$ 151.3		$ 299.7
Mortgage Receivable [Member]
Business Acquisition [Line Items]
Loans acquired		$ 4.5

Real Estate and In-Place Leas40

Real Estate and In-Place Lease Value - Schedule of Investments in Consolidated Properties (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Real Estate [Abstract]
Land	$ 1,469.2	$ 1,471.5
Buildings	3,986.3	3,905.5
Building improvements	333.9	247.2
In-place lease values	421.5	421.8
Real estate, gross	6,210.9	6,046
Less accumulated depreciation and amortization	(316.4)	(248.5)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	$ 5,894.5	$ 5,797.5

Real Estate and In-Place Leas41

Real Estate and In-Place Lease Value - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2016USD ($)Property
Business Acquisition [Line Items]
Guarantor obligations, maximum exposure, percentage of property level debt	1.00%	1.00%
Performance Guarantee [Member] | Loans Payable [Member]
Business Acquisition [Line Items]
Guarantor obligations, maximum exposure	$ 65.5	$ 65.5
Leases, Acquired-in-Place [Member]
Business Acquisition [Line Items]
Acquired in-place lease estimated useful life		10 years 2 months 12 days
Maximum [Member] | Building and Building Improvements [Member]
Business Acquisition [Line Items]
Buildings and building improvements estimated lives		40 years
Commercial [Member]
Business Acquisition [Line Items]
Net gain on sale of properties		$ 24.5
Net gain on sale of properties, excluding noncontrolling interest		13.3
Commercial [Member] | KWE [Member]
Business Acquisition [Line Items]
Net gain on sale of properties		29.6
Net gain on sale of properties, excluding noncontrolling interest		$ 5.4
Number of commercial real estate properties sold | Property		19
Land and condominium units [Member]
Business Acquisition [Line Items]
Net gain on sale of properties	$ 12.3

Real Estate and In-Place Leas42

Real Estate and In-Place Lease Value - Schedule of Acquisitions (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Property	Jun. 30, 2015USD ($)	Dec. 31, 2015
Business Acquisition [Line Items]
Land	$ 81.8		$ 81.8
Building	251.3		251.3
Acquired in place lease values	31.1		31.1
Investment debt	61		61
NCI	215.2		215.2
KWH Shareholders' Equity	88		88
Acquisition-related gains	$ 8.6	$ 53.1	$ 8.6	$ 57.3
KWE [Member]
Business Acquisition [Line Items]
Ownership percentage by parent	21.60%		21.60%		18.20%
Commercial Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Land	$ 15.6		$ 15.6
Building	70.1		70.1
Acquired in place lease values	8.4		8.4
Investment debt	61		61
NCI	2		2
KWH Shareholders' Equity	31		31
Properties Acquired in United Kingdom [Member]
Business Acquisition [Line Items]
Land	39		39
Building	79.2		79.2
Acquired in place lease values	16.6		16.6
Investment debt	0		0
NCI	106.2		106.2
KWH Shareholders' Equity	28.6		28.6
Properties Acquired in Ireland [Member] | KWE [Member]
Business Acquisition [Line Items]
Land	25.3		25.3
Building	84.9		84.9
Acquired in place lease values	5.8		5.8
Investment debt	0		0
NCI	91.6		91.6
KWH Shareholders' Equity	24.4		24.4
Properties Acquired in Spain [Member] | KWE [Member]
Business Acquisition [Line Items]
Land	1.9		1.9
Building	17.1		17.1
Acquired in place lease values	0.3		0.3
Investment debt	0		0
NCI	15.4		15.4
KWH Shareholders' Equity	$ 4		$ 4
Commercial Building [Member] | Commercial Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			2
Commercial Building [Member] | Properties Acquired in United Kingdom [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			1
Commercial Building [Member] | Properties Acquired in Ireland [Member] | KWE [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			2
Multifamily [Member] | Commercial Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			2
Multifamily [Member] | Properties Acquired in Ireland [Member] | KWE [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			1
Retail [Member] | Commercial Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			1
Office Building [Member] | Properties Acquired in United Kingdom [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			10
Development Properties [Member] | Properties Acquired in Ireland [Member] | KWE [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			1
Development Properties [Member] | Properties Acquired in Spain [Member] | KWE [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			1
Supermarket [Member] | Properties Acquired in Spain [Member] | KWE [Member]
Business Acquisition [Line Items]
Number of properties acquired | Property			1

Real Estate and In-Place Leas43

Real Estate and In-Place Lease Value - Schedule of Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Real Estate [Abstract]
Pro forma revenues	$ 178.8	$ 145.4	$ 355.6	$ 287.9
Pro forma income from unconsolidated subsidiaries	8.1	17	27.3	28.2
Pro forma net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (8.5)	$ 32.5	$ (14.7)	$ 30
Pro forma net (loss) income per share:
Basic (in dollars per share)	$ (0.08)	$ 0.31	$ (0.13)	$ 0.31
Diluted (in dollars per share)	$ (0.08)	$ 0.29	$ (0.13)	$ 0.29

Unconsolidated Investments - S

Unconsolidated Investments - Schedule of Unconsolidated Investments (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investments in joint ventures	$ 453.2	$ 443.6
Investments in loan pool participations	0	1.3
Total	$ 453.2	$ 444.9

Unconsolidated Investments - N

Unconsolidated Investments - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015USD ($)limited_partnership	Jun. 30, 2016USD ($)JointVenture	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Accrued performance fees	$ 4	$ 9.1	$ 4
Investments in joint ventures		453.2		$ 443.6
Payments to acquire equity method investments		45.6	$ 128.6
Equity method investment distribution received		17.9
Contributions to existing joint ventures		45.6
Proceeds from equity method investments		$ 53.1
Number of joint ventures with unfulfilled capital commitments | JointVenture		4
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments		$ 43.2
Vintage Housing Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	61.00%		61.00%
Payments to acquire equity method investments	$ 78.7
Number of syndicated limited partnerships | limited_partnership	30
Equity Method Investments		83.6		$ 84.3
Gain on fair value through equity income		13.3
Equity method investment distribution received		$ 3.1
Vintage Housing Holdings [Member] | Non-Affiliated Entity [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	39.00%		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 -46

Unconsolidated Investments - Schedule of Joint Ventures (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 453.2	$ 443.6
Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	413.7	401.7
Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	6.9	5.8
United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	17.7	23.3
Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	14.9	12.8
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	152.3	150.6
Multifamily [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	145.4	144.8
Multifamily [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	6.9	5.8
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	70.1	74.7
Commercial [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	52.4	51.4
Commercial [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Commercial [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	17.7	23.3
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	11.8	12.2
Loan [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	11.8	12.2
Loan [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	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	188.1	180.1
Residential [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	188.1	180.1
Residential [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	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	30.9	26
Other [Member] | Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	16	13.2
Other [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	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	$ 14.9	$ 12.8

Unconsolidated Investments - C

Unconsolidated Investments - Cash Distributions by Investment Type and Location (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Schedule of Equity Method Investments [Line Items]
Operating	$ 17.9
Investing	35.2	$ 33.9
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	13.5
Investing	22.5
Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	4.1
Investing	6.7
Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0.7
Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0.3
Investing	5.3
Western United States [Member]
Schedule of Equity Method Investments [Line Items]
Operating	17.8
Investing	34.5
Western United States [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	13.4
Investing	22.5
Western United States [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	4.1
Investing	6.7
Western United States [Member] | Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
Western United States [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0.3
Investing	5.3
United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0.7
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	0
Investing	0
United Kingdom [Member] | Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0.7
United Kingdom [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
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	0
Investing	0
Japan [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	$ 0

Fair Value Measurements and t48

Fair Value Measurements and the Fair Value Option - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	$ 236.6	$ 223.8
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	236.6	223.8
Marketable securities	5.2	5.3
Assets (liabilities), fair value disclosure	200.3	240.8
Recurring [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	(41.5)	11.7
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	0	0
Marketable securities	5.2	5.3
Assets (liabilities), fair value disclosure	5.2	5.3
Recurring [Member] | Level 1 [Member] | Foreign Exchange Contract [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]
Unconsolidated investments	0	0
Marketable securities	0	0
Assets (liabilities), fair value disclosure	(41.5)	11.7
Recurring [Member] | Level 2 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	(41.5)	11.7
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	236.6	223.8
Marketable securities	0	0
Assets (liabilities), fair value disclosure	236.6	223.8
Recurring [Member] | Level 3 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contract	$ 0	$ 0

Fair Value Measurements and t49

Fair Value Measurements and the Fair Value Option - Marketable Securities, Narrative (Details) - Jun. 30, 2016 - KWE [Member] $ / shares in Units, £ in Millions, shares in Millions, $ in Millions	USD ($)$ / sharesshares	GBP (£)shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares in KWE (in shares) | shares	29.4	29.4
Market value of investment	$ 374.2
Investment cost basis	$ 483.9
Share price | $ / shares	$ 12.75
Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of investments hedged	97.00%	97.00%
Notional Amount | £		£ 295.2

Fair Value Measurements and t50

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments, Narrative (Details) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)Investment	Dec. 31, 2015USD ($)
Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Funds	$ 39.3	$ 30.6
Unfunded capital commitments	$ 43.2
Number of unconsolidated investments with fair value option election | Investment	10
Fair value option	$ 197.3	$ 193.2
Recurring [Member] | Level 3 [Member] | Real Estate Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Unfunded capital commitments	$ 39.4

Fair Value Measurements and t51

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments (Details) - Equity Method Investments [Member] - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
FV Option	$ 197.3	$ 193.2
Funds	39.3	30.6
Total	$ 236.6	$ 223.8

Fair Value Measurements and t52

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 234.8	$ 89.6	$ 223.8	$ 85.9
Unrealized and realized gains	9	13	26.6	18.2
Unrealized and realized losses	0	(0.1)	0	(0.1)
Contributions	4.3	89.3	20.1	91.2
Distributions	(12)	(5.2)	(34.9)	(8.3)
Other	0.5	0	1	(0.3)
Ending balance	$ 236.6	$ 186.6	$ 236.6	$ 186.6

Fair Value Measurements and t53

Fair Value Measurements and the Fair Value Option - Schedule of Significant Inputs (Details)	6 Months Ended
	Jun. 30, 2016
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	4.52%
Office [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	5.00%
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	9.00%
Discount Rates	15.00%
Retail [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	6.25%
Discount Rates	7.50%
Retail [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	8.75%
Discount Rates	13.00%
Multifamily [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	8.00%
Multifamily [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	7.75%
Discount Rates	9.75%
Loan [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rates	20.00%
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	15.00%

Fair Value Measurements and t54

Fair Value Measurements and the Fair Value Option - Derivatives Financial Instruments (Details) € in Millions, ¥ in Millions, £ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2016GBP (£)	Jun. 30, 2016JPY (¥)	Jun. 30, 2016EUR (€)	Dec. 31, 2015USD ($)
Derivative [Line Items]
Hedge Asset	$ 20,400,000				$ 30,900,000
Foreign Exchange Contract, One [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | €				€ 130
Foreign Exchange Contract, Four [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | £		£ 302.7
Foreign Exchange Contract, Five [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | ¥			¥ 757
KWE [Member] | Foreign Exchange Contract, Two [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount | €				€ 360
Level 2 [Member] | Foreign Exchange Contract, One [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	300,000
Hedge Liability	(900,000)
Change in Unrealized Gains (Losses)	(100,000)
Realized Gains (Losses)	0
Cash Received (Paid)	0
Level 2 [Member] | Foreign Exchange Contract, Four [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	18,700,000
Hedge Liability	(400,000)
Change in Unrealized Gains (Losses)	13,400,000
Realized Gains (Losses)	1,000,000
Cash Received (Paid)	(3,400,000)
Level 2 [Member] | Foreign Exchange Contract, Five [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	(700,000)
Change in Unrealized Gains (Losses)	(700,000)
Realized Gains (Losses)	0
Cash Received (Paid)	0
Level 2 [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	20,400,000
Hedge Liability	(61,900,000)
Change in Unrealized Gains (Losses)	(91,800,000)
Realized Gains (Losses)	7,600,000
Cash Received (Paid)	22,300,000
Level 2 [Member] | Derivative Settled [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	1,100,000
Hedge Liability	0
Change in Unrealized Gains (Losses)	4,200,000
Realized Gains (Losses)	6,600,000
Cash Received (Paid)	25,700,000
Level 2 [Member] | Derivatives Outstanding [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	19,300,000
Hedge Liability	(61,900,000)
Change in Unrealized Gains (Losses)	(96,000,000)
Realized Gains (Losses)	1,000,000
Cash Received (Paid)	(3,400,000)
Level 2 [Member] | Foreign Exchange Contract, Seven [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	1,100,000
Hedge Liability	0
Change in Unrealized Gains (Losses)	4,900,000
Realized Gains (Losses)	5,900,000
Cash Received (Paid)	25,700,000
Level 2 [Member] | KWE [Member] | Foreign Exchange Contract, Two [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	300,000
Hedge Liability	(59,900,000)
Change in Unrealized Gains (Losses)	(63,100,000)
Realized Gains (Losses)	0
Cash Received (Paid)	0
Level 2 [Member] | KWE [Member] | Foreign Exchange Contract, Three [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains (Losses)	(45,500,000)
Realized Gains (Losses)	0
Cash Received (Paid)	0
Level 2 [Member] | KWE [Member] | Foreign Exchange Contract, Six [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains (Losses)	(700,000)
Realized Gains (Losses)	700,000
Cash Received (Paid)	0
Noncontrolling Interest [Member] | Level 2 [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	200,000
Hedge Liability	(46,900,000)
Change in Unrealized Gains (Losses)	86,700,000
Realized Gains (Losses)	0
Cash Received (Paid)	0
Parent [Member] | Level 2 [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	20,200,000
Hedge Liability	(15,000,000)
Change in Unrealized Gains (Losses)	(5,100,000)
Realized Gains (Losses)	7,600,000
Cash Received (Paid)	$ 22,300,000

Fair Value Measurements and t55

Fair Value Measurements and the Fair Value Option - Fair Value of Financial Instruments, Narrative (Details) - USD ($) $ in Billions	Jun. 30, 2016	Dec. 31, 2015
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	$ 4.7	$ 4.4
Level 2 [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	$ 4.8	$ 4.3

Other Assets (Details)

Other Assets (Details) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Other Assets [Abstract]
Other, net of accumulated amortization of $4.5 and $3.1 at June 30, 2016 and December 31, 2015, respectively	$ 47.2	$ 40.4
Deferred tax asset, net	32.6	22.2
Goodwill	24	23.9
Hedge assets	20.4	30.9
Prepaid expenses	12.2	10.1
Marketable securities	5.2	4.3
Deposits	2	4.2
Other Assets	262.2	267.2
Accumulated amortization, other	4.5	3.1
Investments in and advances to consolidated subsidiaries	$ 0	0
KWE [Member]
Other Assets [Abstract]
Shares in KWE (in shares)	29.4
KWE [Member] | Equity Securities [Member]
Other Assets [Abstract]
Investments in and advances to consolidated subsidiaries	$ 374.2
Furniture and Fixtures [Member]
Other Assets [Abstract]
Office furniture and equipment net of accumulated depreciation of $20.9 and $14.0 at June 30, 2016 and December 31, 2015, respectively	26.2	27.9
Accumulated amortization, office furniture and equipment	20.9	14
Above Market Leases [Member]
Other Assets [Abstract]
Above-market leases, net of accumulated amortization of $24.0 and $19.6 at June 30, 2016 and December 31, 2015, respectively	92.4	103.3
Accumulated amortization, above-market leases	$ 24	$ 19.6

Investment Debt - Mortgage Loa

Investment Debt - Mortgage Loans (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
KWE [Member]
Debt Instrument [Line Items]
Ownership percentage by parent	21.60%	18.20%
KWE [Member]
Debt Instrument [Line Items]
Debt discount	$ (9.7)	$ (13.6)
Investment Debt [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	3,935	3,658.2
Unamortized loan fees	(28.7)	(30.7)
Total debt	3,906.3	3,627.5
Debt discount	(2.7)
Investment Debt [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	2,298.6	2,102.2
Unamortized loan fees	(17.9)	(19.4)
Total debt	2,280.7	2,082.8
Secured Investment Debt [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	2,838.2	2,795.5
Debt discount	(2.7)	(5.4)
Secured Investment Debt [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	1,201.8	1,239.5
Secured Investment Debt [Member] | Mortgage Loans Secured by Multi-Family Properties [Member] | Western U.S. [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	893.7	835.2
Secured Investment Debt [Member] | Mortgage Loans Secured by Multi-Family Properties [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	190.7	187.1
Secured Investment Debt [Member] | Mortgage Loans Secured by Multi-Family Properties [Member] | Ireland [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	52.5	51.5
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Western U.S. [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	315.1	286.4
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Japan [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	2.3	2
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	354.9	380.3
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Ireland [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	274.1	286.7
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Spain [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	96.5	0
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Spain [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	96.4	0
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	845.8	976.2
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | United Kingdom [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	775.4	897.9
Secured Investment Debt [Member] | Mortgage Loans Secured by Residential, Hotel and Other [Member] | Western U.S. [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	39.2	39.4
Secured Investment Debt [Member] | Mortgage Loans Secured by Residential and Other [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	16.9	7.3
Secured Investment Debt [Member] | Mortgage Loans Secured by Residential and Other [Member] | Spain [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	3.4	3.4
Secured Investment Debt [Member] | Mortgage Loans Secured by Residential and Other [Member] | Spain [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	3.4	3.4
Secured Investment Debt [Member] | Mortgage Loans Secured by Hotel [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	79.7	78.2
Unsecured Debt [Member] | Mortgage Loans, Unsecured [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	1,096.8	862.7
Unsecured Debt [Member] | Mortgage Loans, Unsecured [Member] | United Kingdom [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	$ 1,096.8	$ 862.7

Investment Debt - Narrative (D

Investment Debt - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended			6 Months Ended		9 Months Ended
	Aug. 31, 2014USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)InvestmentLoanPropertyacquisitiondraw	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2016EUR (€)	Jun. 30, 2016GBP (£)	Dec. 31, 2015GBP (£)	Jun. 30, 2015GBP (£)	Aug. 31, 2014GBP (£)
Debt Instrument [Line Items]
Loss in AOCI due to foreign currency rate fluctuations		$ 82.8		$ (68.7)	$ 60.6	$ 36.2
Mortgage Loans on Real Estate, Number of Loans Consolidated | Loan					1
Number of acquisitions partially financed with mortgages | acquisition					3
Number of investments partially financed with mortgages | Investment					2
Number of existing mortgages refinanced | Investment					2
Number of Properties That Acquired Supplemental Financing | Property					2
Euro Member Countries, Euro [Member]
Debt Instrument [Line Items]
Loss in AOCI due to foreign currency rate fluctuations					$ 45.5
Secured Investment Debt [Member]
Debt Instrument [Line Items]
Weighted-average interest rate of investment debt		3.15%	3.19%		3.15%		3.15%		3.15%	3.19%
Percent of property level debt with fixed rate		65.00%	67.00%		65.00%		65.00%		65.00%	67.00%
Percent of property level debt with floating rate and interest caps		18.00%	17.00%		18.00%		18.00%		18.00%	17.00%
Percent of property level debt with floating rate, without interest caps		17.00%	16.00%		17.00%		17.00%		17.00%	16.00%
Secured Investment Debt [Member] | KWE [Member] | Revolving Credit Facility [Member] | KWE Facility [Member]
Debt Instrument [Line Items]
Long-term debt		$ 99.5			$ 99.5		$ 99.5		£ 75,000,000
Debt instrument term	3 years
Maximum borrowing capacity	$ 298.5											£ 225,000,000
Number of Draw on Credit Facility | draw					1
Remaining borrowing capacity		199			$ 199		199		£ 150,000,000
Secured Investment Debt [Member] | KWE [Member] | United Kingdom [Member] | KWE Bonds [Member]
Debt Instrument [Line Items]
Long-term debt		$ 392.5			$ 392.5		392.5
Secured Investment Debt [Member] | KWE [Member] | United Kingdom [Member] | Euro Medium Term Note [Member]
Debt Instrument [Line Items]
Debt face value			$ 2,700							£ 2,000,000,000
Long-term debt			$ 604.8
Proceeds from issuance of debt							$ 609	€ 550,000,000
Annual fixed coupon rate			3.25%
Secured Investment Debt [Member] | KWE [Member] | United Kingdom [Member] | Mortgage Loans, Unsecured [Member]
Debt Instrument [Line Items]
Debt face value				$ 398		$ 398					£ 300,000,000
Interest Rate				3.95%		3.95%					3.95%
Effective interest rate		3.35%			3.35%		3.35%		3.35%
Percentage of proceeds converted to Euros with swaps					50.00%
Maximum percentage of total assets		60.00%			60.00%		60.00%		60.00%
Maximum ratio of consolidated secured indebtedness to total assets		50.00%			50.00%		50.00%		50.00%
Interest coverage ratio		1.50			1.50		1.50		1.50
Maximum ratio of unencumbered assets to unsecured indebtedness		125.00%			125.00%		125.00%		125.00%

Investment Debt - Schedule of

Investment Debt - Schedule of Maturities (Details) - Investment Debt [Member] - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
2,016	$ 122.3
2,017	191.5
2,018	225.3
2,019	787.1
2,020	241.9
Thereafter	2,369.6
Long-term debt, gross	3,937.7
Debt discount	(2.7)
Unamortized loan fees	(28.7)	$ (30.7)
Total debt	$ 3,906.3	$ 3,627.5

Senior Notes - Schedule of Sen

Senior Notes - Schedule of Senior Notes (Details) - Senior Notes [Member] - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Face Value	$ 705,000,000	$ 705,000,000
Unamortized Net Premium/(Discount)	(2,300,000)	(2,400,000)
Carrying Value	702,700,000	702,600,000
Unamortized loan fees	(13,300,000)	(13,800,000)
Total debt	$ 689,400,000	688,800,000
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)	(2,300,000)	(2,400,000)
Carrying Value	$ 647,700,000	$ 647,600,000

Senior Notes - Narrative (Deta

Senior Notes - Narrative (Details) - Senior Notes [Member]	Jun. 30, 2016
Debt Instrument [Line Items]
Balance sheet leverage ratio	1.50
Maximum [Member]
Debt Instrument [Line Items]
Maximum balance sheet leverage ratio	0.75

Borrowings Under Lines of Cre62

Borrowings Under Lines of Credit (Details) - USD ($)	Dec. 10, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Line of Credit Facility [Line Items]
Borrowings under line of credit		$ 100,000,000	$ 75,000,000
Repayments of lines of credit		$ 0	$ 200,000,000
Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Fixed charge coverage ratio		3.2
Covenant, tangible net worth		$ 1,238,100,000
Secured recourse leverage ratio		1.60%
Liquidity covenant		$ 621,000,000
Adjusted secured leverage ratio		42.70%
Consolidated leverage ratio		57.80%
Recourse leverage ratio		0.70
Line of Credit [Member] | Revolving Credit Facility [Member] | KW Revolving Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 475,000,000
Period of extension	1 year
Maximum consolidated leverage ratio	65.00%
Rolling average basis period		12 months
Covenant, percent of new equity offerings	50.00%
Maximum secured recourse leverage multiplier		1.5
Line of Credit [Member] | Revolving Credit Facility [Member] | KW Revolving Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Fixed charge coverage ratio	1.60
Covenant, tangible net worth	$ 920,660,504.65
Liquidity covenant	$ 250,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | KW Revolving Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Secured recourse leverage ratio	3.50%
Liquidity covenant	$ 138,187,197
Adjusted secured leverage ratio	55.00%
Line of Credit [Member] | Revolving Credit Facility [Member] | KW Revolving Facility [Member] | LIBOR [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.50%
Line of Credit [Member] | Revolving Credit Facility [Member] | KW Revolving Facility [Member] | LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.00%
Unsecured Debt [Member] | Revolving Credit Facility [Member] | KWH Facility [Member]
Line of Credit Facility [Line Items]
Borrowings under line of credit		$ 100,000,000
Repayments of lines of credit		0
Maximum amount drawn on the unsecured credit facility at any one point		100,000,000
Remaining borrowing capacity		$ 375,000,000		$ 475,000,000
Outstanding unsecured facility line of credit				$ 0

Equity - Common Stock (Details

Equity - Common Stock (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Feb. 25, 2016
Equity [Abstract]
Authorized amount of stock to repurchase		$ 100,000,000
Stock repurchased during period (in shares)	1,421,252
Stock repurchased during period, value	$ 28,000,000

Equity - Dividend Distribution

Equity - Dividend Distributions (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Declared
Preferred Stock, Declared	$ 1.1	$ 2.6
Common stock, Declared	32	25.9
Total, Declared	33.1	28.5
Paid
Preferred Stock, Paid	1.1	2.6
Common Stock, Paid	29.9	21
Total, Paid	31	23.6
Series A Preferred Stock [Member]
Declared
Preferred Stock, Declared	0	1.5
Paid
Preferred Stock, Paid	0	1.5
Series B Preferred Stock [Member]
Declared
Preferred Stock, Declared	1.1	1.1
Paid
Preferred Stock, Paid	$ 1.1	$ 1.1

Equity - Share-Based Compensat

Equity - Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested Percentage of Shares Granted			60.00%
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 14.7	$ 6.8	$ 32.2	$ 14.1

Equity - Accumulated Other Com

Equity - Accumulated Other Comprehensive Income (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	$ 2,865.1
Unrealized (loss) gains, arising during the period	(156.5)
Noncontrolling interest	138.3
Amounts reclassified out of AOCI during the period, gross	4.5
Amounts reclassified out of AOCI during the period, tax	(1.8)
Taxes on unrealized gains (losses), arising during the period	6.6
Balance end of period	2,564.1
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(69.9)
Balance end of period	(75.8)
Currency Derivative Contracts
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	22.4
Balance end of period	19.3
Marketable Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(0.2)
Balance end of period	(0.1)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Unrealized (loss) gains, arising during the period	(65.6)
Noncontrolling interest	51.6
Amounts reclassified out of AOCI during the period, gross	5.2
Amounts reclassified out of AOCI during the period, tax	(2.1)
Taxes on unrealized gains (losses), arising during the period	5
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Unrealized (loss) gains, arising during the period	(91.1)
Noncontrolling interest	86.7
Amounts reclassified out of AOCI during the period, gross	(0.7)
Amounts reclassified out of AOCI during the period, tax	0.3
Taxes on unrealized gains (losses), arising during the period	1.7
Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Unrealized (loss) gains, arising during the period	0.2
Noncontrolling interest	0
Amounts reclassified out of AOCI during the period, gross	0
Amounts reclassified out of AOCI during the period, tax	0
Taxes on unrealized gains (losses), arising during the period	(0.1)
Total Accumulated Other Comprehensive Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(47.7)
Balance end of period	$ (56.6)

Equity - Noncontrolling Intere

Equity - Noncontrolling Interests (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,492.2	$ 1,731.3
KWE [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,300
Ownership percentage by parent	21.60%	18.20%
Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,500	$ 1,700

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (1.6)	$ 31.2	$ (9.1)	$ 27.7
Dividends allocated to participating securities	(0.5)	(1.3)	(1)	(1.3)
Net loss (income) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	(2.1)	29.9	(10.1)	26.4
Dividends declared on common shares	(15.4)	(13)	(31)	(24.7)
Undistributed (losses) earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	$ (17.5)	$ 16.9	$ (41.1)	$ 1.7
Distributed earnings per share (in dollars per share)	$ 0.14	$ 0.12	$ 0.28	$ 0.24
Undistributed (losses) earnings per share (in dollars per share)	(0.16)	0.17	(0.37)	0.03
(Loss) income per basic (in dollars per share)	(0.02)	0.29	(0.09)	0.27
(Loss) income per diluted (in dollars per share)	$ (0.02)	$ 0.27	$ (0.09)	$ 0.27
Weighted average shares outstanding for basic (in shares)	109,056,941	103,721,472	109,136,241	97,669,080
Weighted average shares outstanding for diluted (in shares)	109,056,941	111,428,358	109,136,241	103,936,881
Dividends declared per common share (in dollars per share)	$ 0.14	$ 0.12	$ 0.28	$ 0.24
Potentially dilutive securities (in shares)	3,388,573	0	3,332,013	3,129,918

Segment Information (Details)

Segment Information (Details) ft² in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016USD ($)ft²office	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)ft²line_of_businesssegmentoffice	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of core operating segments | segment				2
Number of main lines of businesses | line_of_business				5
Segment Reporting Information, Profit (Loss) [Abstract]
Rental		$ 120.3	$ 98.3	$ 240.2	$ 188.7
Hotel		26.8	23.3	55.9	46.7
Sale of real estate		12.3	0	14.2	2.1
Investment management, property services and research fees		13.5	15.5	32.6	31.9
Property service and research fees		6.5	9.2	17.5	18.7
Loan purchases, loan originations and other		3.6	3.4	5.8	8.8
Total revenue		176.5	140.5	348.7	278.2
Operating expenses		(119.7)	(103.9)	(234.2)	(188.7)
Depreciation and amortization		(48.9)	(38)	(97.3)	(74.6)
Total operating expenses		(168.6)	(141.9)	(331.5)	(263.3)
Income from unconsolidated investments		8.4	17	27.6	28.2
Operating income		16.3	15.6	44.8	43.1
Gain on sale of real estate		16.1	34.5	54.5	40.1
Acquisition-related gains		8.6	53.1	8.6	57.3
Acquisition-related expenses		(6.3)	(2)	(8.4)	(20.1)
Interest expense-investment		(33.6)	(27.2)	(66.1)	(46.6)
Interest expense-corporate		(12.2)	(10.8)	(24.3)	(23.8)
Other		5	2.8	5.7	3.6
(Loss) income before provision for income taxes		(6.1)	66	14.8	53.6
Benefit from (provision for) income taxes		3.9	(36.1)	3.4	(28)
Net (loss) income		(2.2)	29.9	18.2	25.6
Net loss (income) attributable to the noncontrolling interests		1.1	1.9	(26.2)	4.7
Preferred dividends and accretion of preferred stock issuance costs		(0.5)	(0.6)	(1.1)	(2.6)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(1.6)	31.2	(9.1)	27.7
Segment Reporting Information, Assets [Abstract]
Total assets	[1]	$ 7,696.3		$ 7,696.3		$ 7,595.6
KW Investments [Member]
Segment Reporting Information [Line Items]
Average ownership interest in investments				39.00%
IMRES [Member]
Segment Reporting Information [Line Items]
Area of real estate property | ft²		61		61
Number of offices | office		25		25
Segment Reporting Information, Profit (Loss) [Abstract]
Property service and research fees		$ 6.5	9.2	$ 17.5	18.7
Operating Segments [Member] | KW Investments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Rental		120.3	98.3	240.2	188.7
Hotel		26.8	23.3	55.9	46.7
Sale of real estate		12.3	0	14.2	2.1
Loan purchases, loan originations and other		3.6	3.4	5.8	8.8
Total revenue		163	125	316.1	246.3
Operating expenses		(86.1)	(73.7)	(161.3)	(133.5)
Depreciation and amortization		(48.9)	(38)	(97.3)	(74.6)
Income from unconsolidated investments		7.2	15.9	25.3	25.6
Operating income		35.2	29.2	82.8	63.8
Gain on sale of real estate		16.1	34.5	54.5	40.1
Acquisition-related gains		8.6	53.1	8.6	57.3
Acquisition-related expenses		(6.3)	(2)	(8.4)	(20.1)
Interest expense-investment		(33.6)	(27.2)	(66.1)	(46.6)
Other		5	2.8	5.7	3.6
(Loss) income before provision for income taxes		25	90.4	77.1	98.1
Benefit from (provision for) income taxes		(3.2)	0	(4.2)	0
Net (loss) income		21.8	90.4	72.9	98.1
Net loss (income) attributable to the noncontrolling interests		1.2	2.8	(26.2)	4.2
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		23	93.2	46.7	102.3
Segment Reporting Information, Assets [Abstract]
Total assets		7,474.1		7,474.1		7,418.6
Operating Segments [Member] | IMRES [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Investment management, property services and research fees		13.5	15.5	32.6	31.9
Total revenue		13.5	15.5	32.6	31.9
Operating expenses		(13.5)	(13.7)	(29.4)	(28.1)
Income from unconsolidated investments		1.2	1.1	2.3	2.6
Operating income		1.2	2.9	5.5	6.4
Net loss (income) attributable to the noncontrolling interests		0	(1)	0	0.4
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		1.2	1.9	5.5	6.8
Segment Reporting Information, Assets [Abstract]
Total assets		85		85		58.1
Corporate, Non-Segment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Operating expenses		(20.1)	(16.5)	(43.5)	(27.1)
Operating income		(20.1)	(16.5)	(43.5)	(27.1)
Interest expense-corporate		(12.2)	(10.8)	(24.3)	(23.8)
(Loss) income before provision for income taxes		(32.3)	(27.3)	(67.8)	(50.9)
Benefit from (provision for) income taxes		7.1	(36.1)	7.6	(28)
Net (loss) income		(25.2)	(63.4)	(60.2)	(78.9)
Preferred dividends and accretion of preferred stock issuance costs		(0.5)	(0.6)	(1.1)	(2.6)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(25.7)	$ (64)	(61.3)	$ (81.5)
Segment Reporting Information, Assets [Abstract]
Total assets		$ 137.2		$ 137.2		$ 118.9
[1]	The assets and liabilities as of June 30, 2016 include $4,966.4 million (including cash held by consolidated investments of $634.0 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,971.3 million) and $2,908.8 million (including investment debt of $2,603.8 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2015 include $4,973.9 million (including cash held by consolidated investments of $507.8 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,955.8 million) and $2,655.1 million (including investment debt of $2,414.0 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Taxes [Line Items]
Income before income taxes	$ (6.1)	$ 66	$ 14.8	$ 53.6
Provision for income taxes	(3.9)	$ 36.1	(3.4)	$ 28
US domestic taxes would be incurred if repatriated to the United States	1		1
Ireland and Jersey [Member]
Income Taxes [Line Items]
Undistributed earnings of foreign subsidiaries	$ 4.6		$ 4.6
U.S. Federal [Member]
Income Taxes [Line Items]
Federal statutory rate			35.00%

Guarantor and Non-Guarantor F71

Guarantor and Non-Guarantor Financial Statements - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Guarantor and Nonguarantor Financial Statements [Abstract]
Consolidated entity ownership percentage	100.00%	100.00%	100.00%	100.00%

Guarantor and Non-Guarantor F72

Guarantor and Non-Guarantor Financial Statements - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents		$ 183.5	$ 182.6
Cash held by consolidated investments		672.5	549
Accounts receivable		79.1	54.7
Loan purchases and originations		151.3	299.7
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,894.5	5,797.5
Unconsolidated investments		453.2	444.9
Investments in and advances to consolidated subsidiaries		0	0
Other assets		262.2	267.2
Total assets	[1]	7,696.3	7,595.6
Liabilities
Accounts payable		17.5	22.2
Accrued expenses and other liabilities		419	392
Total liabilities	[1]	5,132.2	4,730.5
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,071.9	1,133.8
Noncontrolling interests		1,492.2	1,731.3
Total equity		2,564.1	2,865.1
Total liabilities and equity		7,696.3	7,595.6
Investment Debt [Member]
Liabilities
Long-term debt		3,906.3	3,627.5
Senior Notes [Member]
Liabilities
Long-term debt		689.4	688.8
Line of Credit [Member]
Liabilities
Long-term debt		100	0
Reportable Legal Entities [Member] | 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		1,087.7	1,148
Other assets		0	0
Total assets		1,087.7	1,148
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		15.8	14
Total liabilities		15.8	14
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,071.9	1,134
Noncontrolling interests		0	0
Total equity		1,071.9	1,134
Total liabilities and equity		1,087.7	1,148
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Assets
Cash and cash equivalents		71.1	80.2
Cash held by consolidated investments		0	0
Accounts receivable		0	0
Loan purchases and originations		42.4	79.4
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		0	0
Unconsolidated investments		17.4	14.6
Investments in and advances to consolidated subsidiaries		1,914.5	1,898.9
Other assets		3.2	3.9
Total assets		2,048.6	2,077
Liabilities
Accounts payable		0.5	0.5
Accrued expenses and other liabilities		171	239.7
Total liabilities		960.9	929
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,087.7	1,148
Noncontrolling interests		0	0
Total equity		1,087.7	1,148
Total liabilities and equity		2,048.6	2,077
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents		28.7	37
Cash held by consolidated investments		0	0
Accounts receivable		38.8	30.2
Loan purchases and originations		11.9	12.2
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		1,173.2	1,017.5
Unconsolidated investments		302.5	292.6
Investments in and advances to consolidated subsidiaries		1,179.3	1,185.4
Other assets		33.3	30.2
Total assets		2,767.7	2,605.1
Liabilities
Accounts payable		2.2	2.5
Accrued expenses and other liabilities		155.8	118.8
Total liabilities		853.2	706.2
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,914.5	1,898.9
Noncontrolling interests		0	0
Total equity		1,914.5	1,898.9
Total liabilities and equity		2,767.7	2,605.1
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents		83.7	65.4
Cash held by consolidated investments		672.5	549
Accounts receivable		40.3	24.5
Loan purchases and originations		97	245.9
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		4,721.3	4,780
Unconsolidated investments		133.3	137.7
Investments in and advances to consolidated subsidiaries		0	0.2
Other assets		225.7	233.1
Total assets		5,973.8	6,035.8
Liabilities
Accounts payable		14.8	19.2
Accrued expenses and other liabilities		76.4	19.5
Total liabilities		3,302.3	3,119.1
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,179.3	1,185.4
Noncontrolling interests		1,492.2	1,731.3
Total equity		2,671.5	2,916.7
Total liabilities and equity		5,973.8	6,035.8
Reportable Legal Entities [Member] | Investment Debt [Member] | Parent [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Investment Debt [Member] | Kennedy-Wilson, Inc. [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Investment Debt [Member] | Guarantor Subsidiaries [Member]
Liabilities
Long-term debt		695.2	584.9
Reportable Legal Entities [Member] | Investment Debt [Member] | Non-Guarantor Subsidiaries [Member]
Liabilities
Long-term debt		3,211.1	3,080.4
Reportable Legal Entities [Member] | Senior Notes [Member] | Parent [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Senior Notes [Member] | Kennedy-Wilson, Inc. [Member]
Liabilities
Long-term debt		689.4	688.8
Reportable Legal Entities [Member] | Senior Notes [Member] | Guarantor Subsidiaries [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Senior Notes [Member] | Non-Guarantor Subsidiaries [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Line of Credit [Member] | Parent [Member]
Liabilities
Long-term debt		0
Reportable Legal Entities [Member] | Line of Credit [Member] | Kennedy-Wilson, Inc. [Member]
Liabilities
Long-term debt		100
Reportable Legal Entities [Member] | Line of Credit [Member] | Guarantor Subsidiaries [Member]
Liabilities
Long-term debt		0
Reportable Legal Entities [Member] | Line of Credit [Member] | Non-Guarantor Subsidiaries [Member]
Liabilities
Long-term debt		0
Elimination [Member]
Assets
Cash and cash equivalents		0	0
Cash held by consolidated investments		0	0
Accounts receivable		0	0
Loan purchases and originations		0	(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		(4,181.5)	(4,232.5)
Other assets		0	0
Total assets		(4,181.5)	(4,270.3)
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		0	0
Total liabilities		0	(37.8)
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		(4,181.5)	(4,232.5)
Noncontrolling interests		0	0
Total equity		(4,181.5)	(4,232.5)
Total liabilities and equity		(4,181.5)	(4,270.3)
Elimination [Member] | Investment Debt [Member]
Liabilities
Long-term debt		0	(37.8)
Elimination [Member] | Senior Notes [Member]
Liabilities
Long-term debt		0	$ 0
Elimination [Member] | Line of Credit [Member]
Liabilities
Long-term debt		$ 0
[1]	The assets and liabilities as of June 30, 2016 include $4,966.4 million (including cash held by consolidated investments of $634.0 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,971.3 million) and $2,908.8 million (including investment debt of $2,603.8 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2015 include $4,973.9 million (including cash held by consolidated investments of $507.8 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,955.8 million) and $2,655.1 million (including investment debt of $2,414.0 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Guarantor and Non-Guarantor F73

Guarantor and Non-Guarantor Financial Statements - Consolidating Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue
Investment management, property services and research fees	$ 13.5	$ 15.5	$ 32.6	$ 31.9
Rental	120.3	98.3	240.2	188.7
Hotel	26.8	23.3	55.9	46.7
Sale of real estate	12.3	0	14.2	2.1
Loan purchases, loan originations and other	3.6	3.4	5.8	8.8
Total revenue	176.5	140.5	348.7	278.2
Operating expenses
Commission and marketing	1.8	1.8	3.5	3.2
Rental operating	32.8	24.5	63.8	49.1
Hotel operating	23.6	21.8	48.1	43.4
Cost of real estate sold	9.2	0	10.6	1.5
Compensation and related	40.5	44	86.2	70.2
General and administrative	11.8	11.8	22	21.3
Depreciation and amortization	48.9	38	97.3	74.6
Total operating expenses	168.6	141.9	331.5	263.3
Income from unconsolidated investments	8.4	17	27.6	28.2
Income from consolidated subsidiaries	0	0	0	0
Operating income	16.3	15.6	44.8	43.1
Non-operating income (expense)
Acquisition-related gains	8.6	53.1	8.6	57.3
Acquisition-related expenses	(6.3)	(2)	(8.4)	(20.1)
Interest expense-investment	(33.6)	(27.2)	(66.1)	(46.6)
Interest expense-corporate	(12.2)	(10.8)	(24.3)	(23.8)
Gain on sale of real estate	16.1	34.5	54.5	40.1
Other income / (expense)	5	2.8	5.7	3.6
(Loss) income before provision for income taxes	(6.1)	66	14.8	53.6
(Provision for) benefit from income taxes	3.9	(36.1)	3.4	(28)
Net (loss) income	(2.2)	29.9	18.2	25.6
Net (income) loss attributable to the noncontrolling interests	1.1	1.9	(26.2)	4.7
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	(1.1)	31.8	(8)	30.3
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(0.6)	(1.1)	(2.6)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	(1.6)	31.2	(9.1)	27.7
Reportable Legal Entities [Member] | 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	14.8	6.8	32.3	14.1
General and administrative	0	0	0	0
Depreciation and amortization	0	0	0	0
Total operating expenses	14.8	6.8	32.3	14.1
Income from unconsolidated investments	0	0	0	0
Income from consolidated subsidiaries	12.6	36.7	50.5	39.7
Operating income	(2.2)	29.9	18.2	25.6
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	0
Other income / (expense)	0	0	0	0
(Loss) income before provision for income taxes	(2.2)	29.9	18.2	25.6
(Provision for) benefit from income taxes	0	0	0	0
Net (loss) income	(2.2)	29.9	18.2	25.6
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	(2.2)	29.9	18.2	25.6
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(0.6)	(1.1)	(2.6)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	(2.7)	29.3	17.1	23
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [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	1	0	1
Rental operating	0	0	0	0
Hotel operating	0	0	0	0
Cost of real estate sold	0	0	0	0
Compensation and related	11.7	23.7	25.6	29.9
General and administrative	3.6	4.1	7	7.4
Depreciation and amortization	0.3	0.2	0.6	0.4
Total operating expenses	15.6	29	33.2	38.7
Income from unconsolidated investments	0.7	0.6	3.1	1.2
Income from consolidated subsidiaries	30.4	92.2	93.8	104.7
Operating income	15.5	63.8	63.7	67.2
Non-operating income (expense)
Acquisition-related gains	0	0	0	0
Acquisition-related expenses	0	(0.3)	0	(0.3)
Interest expense-investment	0	0	0	0
Interest expense-corporate	(12.2)	(11.5)	(24.3)	(23.8)
Gain on sale of real estate	0	0	0	0
Other income / (expense)	6	(1.3)	7.3	(0.1)
(Loss) income before provision for income taxes	9.3	50.7	46.7	43
(Provision for) benefit from income taxes	3.3	(13.9)	3.8	(3.3)
Net (loss) income	12.6	36.8	50.5	39.7
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	12.6	36.8	50.5	39.7
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	12.6	36.8	50.5	39.7
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenue
Investment management, property services and research fees	12.9	14.7	31.1	30.2
Rental	26.3	13.1	51.2	24.8
Hotel	0	0	0	0
Sale of real estate	9.7	(0.1)	9.7	0
Loan purchases, loan originations and other	0.3	0.4	0.6	0.8
Total revenue	49.2	28.1	92.6	55.8
Operating expenses
Commission and marketing	1.5	0.6	3.2	1.6
Rental operating	12.2	3.3	22.1	8.3
Hotel operating	0	0	0	0
Cost of real estate sold	7.2	0	7.2	0
Compensation and related	12.3	11.4	24.5	21.4
General and administrative	3.9	4.2	7.7	7.3
Depreciation and amortization	8.8	3.3	17.5	8.5
Total operating expenses	45.9	22.8	82.2	47.1
Income from unconsolidated investments	3	8.7	8.5	17.6
Income from consolidated subsidiaries	28.8	81.1	88.3	84
Operating income	35.1	95.1	107.2	110.3
Non-operating income (expense)
Acquisition-related gains	0	0	0	0
Acquisition-related expenses	(1.1)	(0.2)	(1.2)	(0.2)
Interest expense-investment	(5.6)	(2.8)	(11)	(5.5)
Interest expense-corporate	0	0	0	0
Gain on sale of real estate	0	0	0.4	0
Other income / (expense)	(0.1)	(0.1)	(2.6)	0
(Loss) income before provision for income taxes	28.3	92	92.8	104.6
(Provision for) benefit from income taxes	2.1	0	1	0
Net (loss) income	30.4	92	93.8	104.6
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	30.4	92	93.8	104.6
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	30.4	92	93.8	104.6
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Revenue
Investment management, property services and research fees	0.6	0.8	1.5	1.7
Rental	94	85.2	189	163.9
Hotel	26.8	23.3	55.9	46.7
Sale of real estate	2.6	0.1	4.5	2.1
Loan purchases, loan originations and other	3.3	3	5.2	8
Total revenue	127.3	112.4	256.1	222.4
Operating expenses
Commission and marketing	0.3	0.2	0.3	0.6
Rental operating	20.6	21.2	41.7	40.8
Hotel operating	23.6	21.8	48.1	43.4
Cost of real estate sold	2	0	3.4	1.5
Compensation and related	1.7	2.1	3.8	4.8
General and administrative	4.3	3.5	7.3	6.6
Depreciation and amortization	39.8	34.5	79.2	65.7
Total operating expenses	92.3	83.3	183.8	163.4
Income from unconsolidated investments	4.7	7.7	16	9.4
Income from consolidated subsidiaries	0	0	0	0
Operating income	39.7	36.8	88.3	68.4
Non-operating income (expense)
Acquisition-related gains	8.6	53.1	8.6	57.3
Acquisition-related expenses	(5.2)	(1.5)	(7.2)	(19.6)
Interest expense-investment	(28)	(24.4)	(55.1)	(41.1)
Interest expense-corporate	0	0.7	0	0
Gain on sale of real estate	16.1	34.5	54.1	40.1
Other income / (expense)	(0.9)	4.2	1	3.7
(Loss) income before provision for income taxes	30.3	103.4	89.7	108.8
(Provision for) benefit from income taxes	(1.5)	(22.2)	(1.4)	(24.7)
Net (loss) income	28.8	81.2	88.3	84.1
Net (income) loss attributable to the noncontrolling interests	1.1	1.9	(26.2)	4.7
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	29.9	83.1	62.1	88.8
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	29.9	83.1	62.1	88.8
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	(71.8)	(210)	(232.6)	(228.4)
Operating income	(71.8)	(210)	(232.6)	(228.4)
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	0
Other income / (expense)	0	0	0	0
(Loss) income before provision for income taxes	(71.8)	(210)	(232.6)	(228.4)
(Provision for) benefit from income taxes	0	0	0	0
Net (loss) income	(71.8)	(210)	(232.6)	(228.4)
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	(71.8)	(210)	(232.6)	(228.4)
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (71.8)	$ (210)	$ (232.6)	$ (228.4)

Guarantor and Non-Guarantor F74

Guarantor and Non-Guarantor Financial Statements - Consolidated Statement of Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		$ (2.2)	$ 29.9	$ 18.2	$ 25.6
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(82.8)	68.7	(60.6)	(36.2)
Unrealized gain on marketable securities					0.1
Unrealized gain on marketable securities		0	0	0.1	0.1
Amounts reclassified out of AOCI during the period		2.7	10.3	2.7	10
Unrealized currency derivative contracts gain (loss)		(39.4)	(3.4)	(89.4)	15
Total other comprehensive (loss) gain for the period		(119.5)	75.6	(147.2)	(11.1)
Comprehensive (loss) gain		(121.7)	105.5	(129)	14.5
Comprehensive loss (income) attributable to noncontrolling interests	[1]	110.6	(58.9)	112.1	10.4
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(11.1)	46.6	(16.9)	24.9
Reportable Legal Entities [Member] | Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		(2.2)	29.9	18.2	25.6
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(82.8)	68.7	(60.6)	(36.2)
Unrealized gain on marketable securities					0.1
Unrealized gain on marketable securities		0		0.1
Amounts reclassified out of AOCI during the period		2.7	10.3	2.7	10
Unrealized currency derivative contracts gain (loss)		(39.3)	(3.3)	(89.4)	15
Total other comprehensive (loss) gain for the period		(119.4)	75.7	(147.2)	(11.1)
Comprehensive (loss) gain		(121.6)	105.6	(129)	14.5
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(121.6)	105.6	(129)	14.5
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		12.6	36.8	50.5	39.7
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(82.8)	68.7	(60.6)	(36.2)
Unrealized gain on marketable securities					0
Unrealized gain on marketable securities		0		0.1
Amounts reclassified out of AOCI during the period		2.7	10.3	2.7	10
Unrealized currency derivative contracts gain (loss)		(39.3)	(3.3)	(89.4)	15.1
Total other comprehensive (loss) gain for the period		(119.4)	75.7	(147.2)	(11.1)
Comprehensive (loss) gain		(106.8)	112.5	(96.7)	28.6
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(106.8)	112.5	(96.7)	28.6
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		30.4	92	93.8	104.6
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(10.9)	33.7	(6.4)	(8.4)
Unrealized gain on marketable securities					0
Unrealized gain on marketable securities		0		0
Amounts reclassified out of AOCI during the period		0	0	0	(0.3)
Unrealized currency derivative contracts gain (loss)		10.9	(23.8)	10.4	2.5
Total other comprehensive (loss) gain for the period		0	9.9	4	(6.2)
Comprehensive (loss) gain		30.4	101.9	97.8	98.4
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		30.4	101.9	97.8	98.4
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		28.8	81.2	88.3	84.1
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(82.5)	135.3	(64.2)	114.5
Unrealized gain on marketable securities					0.1
Unrealized gain on marketable securities		0		0
Amounts reclassified out of AOCI during the period		2.7	10.3	2.7	10.3
Unrealized currency derivative contracts gain (loss)		(50.2)	20.4	(99.8)	12.6
Total other comprehensive (loss) gain for the period		(130)	166	(161.3)	137.5
Comprehensive (loss) gain		(101.2)	247.2	(73)	221.6
Comprehensive loss (income) attributable to noncontrolling interests		110.6	(58.9)	112.1	10.4
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		9.4	188.3	39.1	232
Elimination [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		(71.8)	(210)	(232.6)	(228.4)
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		176.2	(237.7)	131.2	(69.9)
Unrealized gain on marketable securities					(0.1)
Unrealized gain on marketable securities		0		(0.1)
Amounts reclassified out of AOCI during the period		(5.4)	(20.6)	(5.4)	(20)
Unrealized currency derivative contracts gain (loss)		78.5	6.6	178.8	(30.2)
Total other comprehensive (loss) gain for the period		249.3	(251.7)	304.5	(120.2)
Comprehensive (loss) gain		177.5	(461.7)	71.9	(348.6)
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		$ 177.5	$ (461.7)	$ 71.9	$ (348.6)
[1]	Comprehensive (loss) income attributable to noncontrolling interest includes allocation of unrealized currency translation losses and currency derivative contracts.

Guarantor and Non-Guarantor F75

Guarantor and Non-Guarantor Financial Statements - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities		$ 10.5	$ 37.3
Cash flows from investing activities:
Additions to loans		(5.3)	(233.5)
Collections of loans		138.8	4.6
Net proceeds from sale of real estate		183.4	504
Purchases of and additions to real estate		(447.5)	(986.7)
Additions to nonrefundable escrow deposits		0	(3.4)
Proceeds from settlement of foreign derivative contracts		25.7	35.8
Purchases of foreign derivative contracts		(3.4)	(5.2)
Investment in marketable securities		(0.7)	0
Proceeds from sale of marketable securities		0	6.2
Distributions from unconsolidated investments		35.2	33.9
Contributions to unconsolidated investments		(45.6)	(128.6)
(Investments in) distributions from consolidated subsidiaries, net		0	0
Net cash used in investing activities		(119.4)	(772.9)
Cash flows from financing activities:
Borrowings under line of credit		100	75
Repayment of line of credit		0	(200)
Borrowings under investment debt		476.5	1,574.4
Repayment of investment debt		(97.5)	(605)
Debt issue costs		(3.7)	(13.1)
Issuance of common stock		0	215
Repurchase and retirement of common stock		(42.8)	(11.3)
Dividends paid		(31)	(23.6)
Acquisition of KWE shares from noncontrolling interest holders		(67.9)	(24.4)
Contributions from noncontrolling interests, excluding KWE		12.9	6.4
Distributions to noncontrolling interests		(73.5)	(183.1)
Net cash provided by financing activities		273	810.3
Effect of currency exchange rate changes on cash and cash equivalents		(39.7)	(19.8)
Net change in cash and cash equivalents	[1]	124.4	54.9
Cash and cash equivalents, beginning of period		731.6	937.7
Cash and cash equivalents, end of period		856	992.6
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities		(0.2)	(0.6)
Cash flows from investing activities:
Additions to loans		0	0
Collections of loans		0	0
Net proceeds from sale of real estate		0	0
Purchases of and additions to real estate		0	0
Additions to nonrefundable escrow deposits		0	0
Proceeds from settlement of foreign derivative contracts		0	0
Purchases of foreign derivative contracts		0	0
Investment in marketable securities		0
Proceeds from sale of marketable securities			0
Distributions from unconsolidated investments		0	0
Contributions to unconsolidated investments		0	0
(Investments in) distributions from consolidated subsidiaries, net		74	(179.5)
Net cash used in investing activities		74	(179.5)
Cash flows from financing activities:
Borrowings under line of credit		0	0
Repayment of line of credit			0
Borrowings under investment debt		0	0
Repayment of investment debt		0	0
Debt issue costs		0	0
Issuance of common stock			215
Repurchase and retirement of common stock		(42.8)	(11.3)
Dividends paid		(31)	(23.6)
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		(73.8)	180.1
Effect of currency exchange rate changes on cash and cash equivalents		0	0
Net change in cash and cash equivalents		0	0
Cash and cash equivalents, beginning of period		0	0
Cash and cash equivalents, end of period		0	0
Kennedy-Wilson, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities		(138.3)	100.5
Cash flows from investing activities:
Additions to loans		(0.8)	(38.7)
Collections of loans		0	0
Net proceeds from sale of real estate		0	0
Purchases of and additions to real estate		0	0
Additions to nonrefundable escrow deposits		0	0
Proceeds from settlement of foreign derivative contracts		25.7	17.9
Purchases of foreign derivative contracts		(3.4)	(3.6)
Investment in marketable securities		0
Proceeds from sale of marketable securities			0
Distributions from unconsolidated investments		0	0
Contributions to unconsolidated investments		(1)	(1.5)
(Investments in) distributions from consolidated subsidiaries, net		8.9	18.4
Net cash used in investing activities		29.4	(7.5)
Cash flows from financing activities:
Borrowings under line of credit		100	75
Repayment of line of credit			(200)
Borrowings under investment debt		0	0
Repayment of investment debt		0	0
Debt issue costs		(0.2)	(0.6)
Issuance of common stock			0
Repurchase and retirement of common stock		0	0
Dividends paid		0	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		99.8	(125.6)
Effect of currency exchange rate changes on cash and cash equivalents		0	0
Net change in cash and cash equivalents		(9.1)	(32.6)
Cash and cash equivalents, beginning of period		80.2	38.2
Cash and cash equivalents, end of period		71.1	5.6
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities		56.3	39.7
Cash flows from investing activities:
Additions to loans		(4.5)	0
Collections of loans		4.9	3
Net proceeds from sale of real estate		3.4	0
Purchases of and additions to real estate		(51.5)	(62.9)
Additions to nonrefundable escrow deposits		0	0
Proceeds from settlement of foreign derivative contracts		0	0
Purchases of foreign derivative contracts		0	0
Investment in marketable securities		(0.7)
Proceeds from sale of marketable securities			6.2
Distributions from unconsolidated investments		13.5	13.5
Contributions to unconsolidated investments		(32.7)	(43.9)
(Investments in) distributions from consolidated subsidiaries, net		(44.4)	(8.2)
Net cash used in investing activities		(112)	(92.3)
Cash flows from financing activities:
Borrowings under line of credit		0	0
Repayment of line of credit			0
Borrowings under investment debt		66.4	54
Repayment of investment debt		(18.4)	(2.3)
Debt issue costs		(0.6)	(0.5)
Issuance of common stock			0
Repurchase and retirement of common stock		0	0
Dividends paid		0	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		47.4	51.2
Effect of currency exchange rate changes on cash and cash equivalents		0	0
Net change in cash and cash equivalents		(8.3)	(1.4)
Cash and cash equivalents, beginning of period		37	21
Cash and cash equivalents, end of period		28.7	19.6
Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities		92.7	(102.3)
Cash flows from investing activities:
Additions to loans		0	(194.8)
Collections of loans		133.9	1.6
Net proceeds from sale of real estate		180	504
Purchases of and additions to real estate		(396)	(923.8)
Additions to nonrefundable escrow deposits		0	(3.4)
Proceeds from settlement of foreign derivative contracts		0	17.9
Purchases of foreign derivative contracts		0	(1.6)
Investment in marketable securities		0
Proceeds from sale of marketable securities			0
Distributions from unconsolidated investments		21.7	20.4
Contributions to unconsolidated investments		(11.9)	(83.2)
(Investments in) distributions from consolidated subsidiaries, net		(38.5)	169.3
Net cash used in investing activities		(110.8)	(493.6)
Cash flows from financing activities:
Borrowings under line of credit		0	0
Repayment of line of credit			0
Borrowings under investment debt		410.1	1,520.4
Repayment of investment debt		(79.1)	(602.7)
Debt issue costs		(2.9)	(12)
Issuance of common stock			0
Repurchase and retirement of common stock		0	0
Dividends paid		0	0
Acquisition of KWE shares from noncontrolling interest holders		(67.9)	(24.4)
Contributions from noncontrolling interests, excluding KWE		12.9	6.4
Distributions to noncontrolling interests		(73.5)	(183.1)
Net cash provided by financing activities		199.6	704.6
Effect of currency exchange rate changes on cash and cash equivalents		(39.7)	(19.8)
Net change in cash and cash equivalents		141.8	88.9
Cash and cash equivalents, beginning of period		614.4	878.5
Cash and cash equivalents, end of period		$ 756.2	$ 967.4
[1]	See discussion of non-cash effects in notes to statement of cash flows.

Subsequent Events (Details)

Subsequent Events (Details) - Multifamily [Member] - Subsequent Event [Member] $ in Millions	1 Months Ended
	Aug. 05, 2016USD ($)PropertyUnit
Multifamily Property in Auburn, WA [Member]
Subsequent Event [Line Items]
Number of units in real estate property | Unit	430
Amount of consideration transferred	$ 81
Payment to acquire real estate properties	$ 19
Not Discontinued Operations [Member]
Subsequent Event [Line Items]
Number of units in real estate property | Unit	680
Number of commercial real estate properties sold | Property	2
Proceeds from sale of real estate	$ 206.5
KWE [Member] | Not Discontinued Operations [Member]
Subsequent Event [Line Items]
Proceeds from sale of real estate	$ 23.6