Kennedy-Wilson (KW) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 03, 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	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		113,355,652

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents		$ 282.7	$ 182.6
Cash held by consolidated investments		692.5	549
Accounts receivable (including $29.7 and $22.9 of related party)		64.1	54.7
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		6,129.1	5,797.5
Loan purchases and originations (including $0 and $40.9 of related party)		109.2	299.7
Unconsolidated investments (including $227.0 and $223.8 at fair value)		432.9	444.9
Other assets		256.3	267.2
Total assets	[1]	7,966.8	7,595.6
Liabilities
Accounts payable		14.6	22.2
Accrued expenses and other liabilities		440.1	392
Total liabilities	[1]	5,438.8	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 September 30, 2016 and December 31, 2015		0	0
Common stock, 113,318,152 and 114,533,581 shares issued and outstanding as of September 30, 2016 and December 31, 2015		0	0
Additional paid-in capital		1,231.6	1,225.7
Accumulated deficit		(106.7)	(44.2)
Accumulated other comprehensive loss		(61.7)	(47.7)
Total Kennedy-Wilson Holdings, Inc. shareholders' equity		1,063.2	1,133.8
Noncontrolling interests		1,464.8	1,731.3
Total equity		2,528	2,865.1
Total liabilities and equity		7,966.8	7,595.6
Investment Debt [Member]
Liabilities
Long-term debt		4,047.6	3,627.5
Senior Notes [Member]
Liabilities
Long-term debt		$ 936.5	$ 688.8
[1]	The assets and liabilities as of September 30, 2016 include $4,913.0 million (including cash held by consolidated investments of $647.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,914.1 million) and $2,877.6 million (including investment debt of $2,566.7 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 (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2016	Dec. 31, 2015
Assets
Related party accounts receivable		$ 29.7	$ 22.9
Related party loan purchases and originations		0	40.9
Fair value of unconsolidated investments		227	223.8
Assets	[1]	7,966.8	7,595.6
Cash held by consolidated investments		692.5	549
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		6,129.1	5,797.5
Liabilities
Liabilities	[1]	$ 5,438.8	$ 4,730.5
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, shares issued (in shares)		113,318,152	114,533,581
Common stock, shares outstanding (in shares)		113,318,152	114,533,581
Investment Debt [Member]
Liabilities
Long-term debt		$ 4,047.6	$ 3,627.5
Variable Interest Entity, Primary Beneficiary [Member]
Assets
Assets		4,913	4,973.9
Cash held by consolidated investments		647.5	507.8
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		3,914.1	3,955.8
Liabilities
Liabilities		2,877.6	2,655.1
Variable Interest Entity, Primary Beneficiary [Member] | Investment Debt [Member]
Liabilities
Long-term debt		$ 2,566.7	$ 2,414
Preferred Stock [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
Preferred Stock [Member] | 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 September 30, 2016 include $4,913.0 million (including cash held by consolidated investments of $647.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,914.1 million) and $2,877.6 million (including investment debt of $2,566.7 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 - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue
Rental	$ 122.9	$ 106.6	$ 363.1	$ 295.3
Hotel	31.4	31.3	87.3	78
Sale of real estate	2.5	1.6	16.7	3.7
Investment management, property services and research fees (includes $5.4, $8.0, $22.9 and $26.7 of related party fees)	14.1	15.1	46.7	47
Loan purchases, loan originations and other	3.4	4.6	9.2	13.4
Total revenue	174.3	159.2	523	437.4
Operating expenses
Rental operating	34.6	29.4	98.4	78.5
Hotel operating	23.8	22.7	71.9	66.1
Cost of real estate sold	2.5	1.1	13.1	2.6
Commission and marketing	2.5	1.2	6	4.4
Compensation and related	42.2	35.2	128.4	105.4
General and administrative	10.5	10	32.5	31.3
Depreciation and amortization	50	44.9	147.3	119.5
Total operating expenses	166.1	144.5	497.6	407.8
Income from unconsolidated investments	31.7	15.9	59.3	44.1
Operating income	39.9	30.6	84.7	73.7
Non-operating income (expense)
Gain on sale of real estate	21.5	4.6	76	44.7
Acquisition-related gains	7.6	29.9	16.2	87.2
Acquisition-related expenses	(1)	(8.2)	(9.4)	(28.3)
Interest expense-investment	(36.8)	(31.3)	(102.9)	(77.9)
Interest expense-corporate	(14.5)	(11.7)	(38.8)	(35.5)
Other income	1.9	(4.3)	7.6	(0.7)
Income before provision for income taxes	18.6	9.6	33.4	63.2
Provision for income taxes	(5.5)	(4.5)	(2.1)	(32.5)
Net income	13.1	5.1	31.3	30.7
Net (income) loss attributable to the noncontrolling interests	(15.1)	10.3	(41.3)	15
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(0.5)	(1.6)	(3.1)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (2.5)	$ 14.9	$ (11.6)	$ 42.6
Basic (loss) income per share
(Loss) income per basic (in dollars per share)	$ (0.03)	$ 0.13	$ (0.12)	$ 0.40
Weighted average shares outstanding for basic (in shares)	108,634,228	107,433,124	108,966,540	101,361,606
Diluted (loss) income per share
(Loss) income per diluted (in dollars per share)	$ (0.03)	$ 0.13	$ (0.12)	$ 0.40
Weighted average shares outstanding for diluted (in shares)	108,634,228	107,433,124	108,966,540	105,517,172
Dividends declared per common share (in dollars per share)	$ 0.14	$ 0.12	$ 0.42	$ 0.36

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Investment management, property services, and research fees— related party	$ 5.4	$ 8	$ 22.9	$ 26.7

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net (loss) income		$ 13.1	$ 5.1	$ 31.3	$ 30.7
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation loss		(1.1)	(51.8)	(61.7)	(88)
Unrealized gain on marketable securities		0.1	0	0.2	0.1
Amounts reclassified out of AOCI during the period		0.7	(0.3)	3.4	9.7
Unrealized currency derivative contracts (loss) gain		(35.6)	(8.3)	(125)	6.7
Total other comprehensive loss for the period		(35.9)	(60.4)	(183.1)	(71.5)
Comprehensive loss		(22.8)	(55.3)	(151.8)	(40.8)
Comprehensive gain (loss) attributable to noncontrolling interests	[1]	15.7	67.9	127.8	78.3
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		$ (7.1)	$ 12.6	$ (24)	$ 37.5
[1]	Comprehensive gain (loss) attributable to noncontrolling interest includes allocation of unrealized currency translation losses and currency derivative contracts.

Consolidated Statement of Equit

Consolidated Statement of Equity - 9 months ended Sep. 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 (Loss) [Member]	Noncontrolling Interests [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)			(31,900)
Restricted stock grants (RSG) (in shares)			964,250
Shares retired due to RSG vesting (in shares)			(693,942)
Shares retired due to RSG vesting	(14.6)			(14.6)
Shares retired due to common stock repurchase program (in shares)			(1,453,837)
Shares retired due to common stock repurchase program	(28.7)			(25.9)	(2.8)
Stock based compensation	47.8			47.8
Other comprehensive income (loss):
Unrealized foreign currency translation loss, net of tax	(57.9)					(7.1)	(50.8)
Unrealized foreign currency derivative contract loss, net of tax	(125.4)					(7.1)	(118.3)
Unrealized gain on marketable securities	0.2					0.2
Preferred stock dividends	(1.6)	$ (1.6)			(1.6)
Common stock dividends	(48.1)				(48.1)
Net (loss) income	31.3				(10)		41.3
Acquisition of Kennedy Wilson Europe (KWE) shares from noncontrolling interest holders	(70.6)						(70.6)
Acquisition of noncontrolling interests from consolidated entity	0			(1.4)			1.4
Contributions from noncontrolling interests, excluding KWE	25.3						25.3
Distributions to noncontrolling interests	(94.8)						(94.8)
Ending balance outstanding (in shares) at Sep. 30, 2016		32,550	113,318,152
Balance end of period at Sep. 30, 2016	$ 2,528	$ 0	$ 0	$ 1,231.6	$ (106.7)	$ (61.7)	$ 1,464.8

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income		$ 31.3	$ 30.7
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Net gain from sale of real estate		(79.6)	(43)
Acquisition-related gain		(16.2)	(87.2)
Depreciation and amortization		147.3	119.5
(Provision for) Benefit from deferred income taxes		(2.3)	2.1
Amortization of deferred loan costs		9.8	5.2
Amortization of discount and accretion of premium on issuance of the senior notes and investment debt		(1)	(8.3)
Unrealized net (gain) loss on derivatives		(6.2)	3.8
Income from unconsolidated investments and loan purchases and originations		(67.7)	(50.3)
Operating distributions from unconsolidated investments		53.9	50.8
Operating distributions from loan purchases and originations		13.1	7
Share-based compensation		47.8	19.6
Change in assets and liabilities:
Accounts receivable		(14.5)	0.3
Other assets		(19.9)	(0.2)
Accounts payable, accrued expenses and other liabilities		(17.4)	64.2
Net cash provided by operating activities		78.4	114.2
Cash flows from investing activities:
Additions to loans		(16.1)	(233.9)
Collections of loans		145.4	15.3
Net proceeds from sale of real estate		266	523.4
Purchases of and additions to real estate		(748.4)	(1,534)
Proceeds from settlement of foreign derivative contracts		43.3	36.2
Purchases of foreign derivative contracts		(5.8)	(5.2)
Investment in marketable securities		(0.9)	0
Proceeds from sale of marketable securities		0	6.2
Distributions from unconsolidated investments		63.4	92
Contributions to unconsolidated investments		(70.3)	(155.2)
Net cash used in investing activities		(323.4)	(1,255.2)
Cash flows from financing activities:
Borrowings under senior notes payable		250	0
Borrowings under line of credit		125	75
Repayment of line of credit		(125)	(200)
Borrowings under investment debt		933.4	1,632.2
Repayment of investment debt		(407.1)	(620.2)
Debt issue costs		(9.4)	(15)
Issuance of common stock		0	215
Repurchase and retirement of common stock		(43.4)	(11.4)
Dividends paid		(47.5)	(37.7)
Acquisition of KWE shares from noncontrolling interest holders		(70.6)	(59.5)
Contributions from noncontrolling interests, excluding KWE		25.3	6.5
Distributions to noncontrolling interests		(94.8)	(205.8)
Net cash provided by financing activities		535.9	779.1
Effect of currency exchange rate changes on cash and cash equivalents		(47.3)	(34.2)
Net change in cash and cash equivalents	[1]	243.6	(396.1)
Cash and cash equivalents, beginning of period		731.6	937.7
Cash and cash equivalents, end of period		975.2	541.6
Supplemental cash flow information:
Interest	[2]	103.4	83
Income taxes	[3]	10.4	3
Supplemental disclosure of non-cash investing and financing activities:
Accrued capital expenditures		11.6	6.9
Dividends declared but not paid on common stock		$ 15.9	$ 13.5
[1]	See discussion of non-cash effects in notes to statement of cash flows.
[2]	and $25.6 million attributable to noncontrolling interests
[3]	and $2.5 million attributable to noncontrolling interests

Consolidated Statements of Cas9

Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	May 19, 2015$ / sharesshares	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)notes
Interest paid attributable to noncontrolling interest		$ 35.9	$ 25.6
Income taxes paid attributable to noncontrolling interest		8.2	2.5
Acquisition-related gains		16.2	$ 87.2
Ireland [Member] | KWE [Member]
Number of instruments foreclosed | notes			2
Western United States [Member] | Multifamily and Commercial [Member]
Acquisition-related gains		$ 16.2	$ 57.3
Preferred Stock [Member] | Series A Preferred Stock [Member]
Shares of preferred stock outstanding (in shares) | shares	100,000
Common Stock [Member]
Number of shares converted (in shares) | shares	8,554,948
Par value per share (in dollars per share) | $ / shares	$ 0.0001
Conversion price per share (in dollars per share) | $ / shares	$ 11.69

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 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 the Company's opinion, all adjustments, consisting of only normal and recurring items, necessary for a fair presentation of the results of operations for the three and nine months ended September 30, 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 the Company's 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) is a Jersey investment company formed to invest in real estate and real estate-related assets in Europe and is listed on the London Stock Exchange. KWE is externally managed by a wholly-owned subsidiary of Kennedy Wilson incorporated in Jersey pursuant to an investment management agreement. Due to the terms provided in the investment management agreement and Kennedy Wilson's equity ownership interest in KWE, pursuant to the guidance set forth in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Subtopic 810 - Consolidation (“Subtopic 810”), the Company is required to consolidate KWE’s results in its consolidated financial statements. As of September 30, 2016 , the Company invested $486.7 million and owned approximately 21.8% of KWE’s total issued share capital as of September 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 $840.6 million included in the Company's consolidated balance sheet as of September 30, 2016 . Kennedy Wilson's total equity in these investments was $417.7 million and the Company's weighted average ownership in these investments was 57% as of September 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 consolidated 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 Pronouncements	9 Months Ended
	Sep. 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 the Company's 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 the Company 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 the Company's consolidated statements of operations. Total performance fees recognized from inception through September 30, 2016 that may be reversed in future periods if there is negative fund performance totaled $24.6 million . Performance fees recognized during the nine months ended September 30, 2016 and September 30, 2015 were $10.6 million and $7.1 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 September 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. 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 Company's results of 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 and 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 the Company's 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 the Company's 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. ASU 2016-02 is required to be adopted for fiscal years beginning after December 15, 2018. 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 nine 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	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
LOAN PURCHASES AND ORIGINATIONS	LOAN PURCHASES AND ORIGINATIONS KW Group's investment in loan purchases and originations was $109.2 million and $299.7 million at September 30, 2016 and December 31, 2015 , respectively. During the first quarter of 2016, 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 . 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. During the third quarter of 2016, a subsidiary of KWH converted a related party loan in an unconsolidated investment in a development project in Kona, Hawaii that had a carrying value of $46.3 million . The Company also bought out equity partners and consolidated the property during the quarter. See Note 4 for more detail. KW Group recognized interest income on loans of $3.4 million and $9.2 million during the three and nine months ended September 30, 2016 , respectively, and $4.6 million and $13.4 million during the three and nine months ended September 30, 2015 , respectively.

Real Estate and In-Place Lease

Real Estate and In-Place Lease Value	9 Months Ended
	Sep. 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 September 30, 2016 and December 31, 2015 : September 30, December 31, (Dollars in millions) 2016 2015 Land $ 1,548.8 $ 1,471.5 Buildings 4,190.5 3,905.5 Building improvements 330.2 247.2 In-place lease values 415.9 421.8 6,485.4 6,046.0 Less accumulated depreciation and amortization (356.3 ) (248.5 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 6,129.1 $ 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 10.3 years at September 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 nine months ended September 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 retail centers, five multifamily and two residential properties (5) $ 114.1 $ 271.3 $ 8.7 $ 231.3 $ 2.0 $ 160.8 United Kingdom Portfolio of 10 office properties and one commercial property 39.0 79.2 16.6 — 106.2 28.6 Ireland Three commercial properties and one development property (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 — 15.3 4.0 $ 180.3 $ 452.5 $ 31.4 $ 231.3 $ 215.1 $ 217.8 (1) Excludes acquisition expenses and net other assets. The purchase price allocations for properties acquired during the nine months ended September 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 21.8% of the total issued share capital of KWE as of September 30, 2016 . (5) During the nine months ended September 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 . Additionally, KW Group purchased equity partners' interests and consolidated a development project in Kona, HI that was previously accounted for as an equity method investment resulting in acquisition related gains of $7.6 million . Gains on real estate During the nine months ended September 30, 2016 , KW Group recognized the following gains on sale of real estate: (Dollars in millions) Gain on sale of real estate Description Consolidated NCI Net of NCI KW One commercial property in each Japan, United Kingdom and Ireland, one condo unit, a vacant lot and a parcel of land in the Western U.S. $ 29.0 $ 11.9 $ 17.1 KWE 30 commercial properties in the United Kingdom 50.6 40.4 10.2 KW Group $ 79.6 $ 52.3 $ 27.3 Guarantees Kennedy Wilson has certain guarantees associated with loans secured by consolidated assets. As of September 30, 2016 , the maximum potential amount of future payments (undiscounted) Kennedy Wilson could be required to make under the guarantees was approximately $65.4 million which is approximately 2% 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 September 30, 2016 and December 31, 2015 were 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 nine months ended September 30, 2016 occurred as of January 1, 2015. Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions, except for per share data) 2016 2015 2016 2015 Pro forma revenues $ 176.5 $ 169.3 $ 542.1 $ 467.3 Pro forma income from unconsolidated subsidiaries 31.2 15.9 59.1 44.9 Pro forma net (loss) income (1) 6.8 11.7 28.4 50.4 Pro forma net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders (1) (8.8 ) 19.2 (17.3 ) 55.5 Pro forma net (loss) income per share: Basic $ (0.08 ) $ 0.18 $ (0.16 ) $ 0.55 Diluted $ (0.08 ) $ 0.18 $ (0.16 ) $ 0.53 (1) Excludes nonrecurring gains of $7.6 million and $16.2 million for the three and nine months ended September 30, 2016 , respectively.

Unconsolidated Investments

Unconsolidated Investments	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
UNCONSOLIDATED INVESTMENTS	UNCONSOLIDATED INVESTMENTS 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 The following table details the Company's unconsolidated investments by investment type and geographic location as of September 30, 2016 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 147.9 $ 49.9 $ — $ 180.6 $ 16.1 $ 394.5 Japan 7.0 — — — — 7.0 United Kingdom — 16.1 — — — 16.1 Spain — — — — 15.3 15.3 Total $ 154.9 $ 66.0 $ — $ 180.6 $ 31.4 $ 432.9 The following table details the Company's unconsolidated investments 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 1.3 — — 24.6 Spain — — — — 12.8 12.8 Total $ 150.6 $ 74.7 $ 13.5 $ 180.1 $ 26.0 $ 444.9 Vintage Housing Holdings ("VHH") During the second quarter of 2015, the Company purchased a 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 interest 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 September 30, 2016 and December 31, 2015 , the carrying value in VHH was $80.5 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 $20.5 million in fair value gains through equity income. The fair values gains were primarily driven by sales to new partnerships and unrealized developer fees. Since the investment is accounted for under fair value, operating distributions are recorded as equity income. See Note 6 for additional details. The Company has recognized $4.7 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 September 30, 2016 or December 31, 2015 . Contributions to Joint Ventures During the nine months ended September 30, 2016 , Kennedy Wilson contributed $1.0 million to a new joint venture. Kennedy Wilson contributed $69.3 million to existing joint ventures during the nine months ended September 30, 2016 to fund the Company's share of development projects, capital expenditures and working capital needs. Distributions from Joint Ventures and Loan Pool Participations During the nine months ended September 30, 2016 , Kennedy Wilson received $117.3 million in operating and investing distributions from its joint ventures and loan pool participations. 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 nine months ended September 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. $ 44.5 $ 43.9 $ 8.8 $ 13.5 $ — $ — $ 0.5 $ 5.3 $ 53.8 $ 62.7 United Kingdom — — — — — 0.7 — — — 0.7 Japan 0.1 — — — — — — — 0.1 — Total $ 44.6 $ 43.9 $ 8.8 $ 13.5 $ — $ 0.7 $ 0.5 $ 5.3 $ 53.9 $ 63.4 Investing distributions resulted primarily from recapitalizations and the sale of multifamily and commercial properties in the Western United States. Operating distributions resulted from sales distributions in excess of invested basis and operating cash flow generated by the joint venture investments. 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 September 30, 2016 , Kennedy Wilson had unfulfilled capital commitments totaling $35.9 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	9 Months Ended
	Sep. 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 September 30, 2016 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 227.0 $ 227.0 Marketable securities 5.4 — — 5.4 Currency derivative contracts — (75.3 ) — (75.3 ) Total $ 5.4 $ (75.3 ) $ 227.0 $ 157.1 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 29.6 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 $ 385.0 million (cost basis of $ 486.7 million ) based on a per share price of $13.02 at September 30, 2016 . As of September 30, 2016 , the Company had hedged 96% 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 $41.2 million and $30.6 million at September 30, 2016 and December 31, 2015 , respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets. As of September 30, 2016 , Kennedy Wilson had unfunded capital commitments to the Funds in the amount of $31.6 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 $185.8 million and $193.2 million at September 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 the Company's investments in unconsolidated investments held at fair value by type: (Dollars in millions) September 30, 2016 December 31, 2015 FV Option $ 185.8 $ 193.2 Funds 41.2 30.6 Total $ 227.0 $ 223.8 The following table presents changes in Level 3 investments for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Beginning balance $ 236.6 $ 186.6 $ 223.8 $ 85.9 Unrealized and realized gains 10.1 11.1 36.2 29.3 Unrealized and realized losses (0.6 ) — (0.1 ) (0.1 ) Contributions 10.2 16.5 30.3 107.7 Distributions (29.2 ) (8.1 ) (64.0 ) (16.4 ) Other (0.1 ) — 0.8 (0.3 ) Ending balance $ 227.0 $ 206.1 $ 227.0 $ 206.1 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 4.75% - 9.00% 7.25% - 11.25% Retail 6.25% - 9.00% 7.50% - 12.75% Multifamily 4.75% - 7.75% 8.00% - 9.75% 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 1.34% to 4.60% . 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 September 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 its 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 September 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 September 30, 2016 and the activity during the nine months ended September 30, 2016 : (Dollars in millions) September 30, 2016 Nine Months Ended September 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 $ (2.7 ) $ (1.9 ) $ — $ — EUR (1) GBP € 360.0 — (80.2 ) (89.2 ) — — EUR (1)(2) GBP — — (59.7 ) — — GBP USD £295.2 8.2 — 2.5 — (5.8 ) Yen USD ¥ 757.0 — (1.0 ) (0.8 ) — — Total Outstanding 8.5 (83.9 ) (149.1 ) — (5.8 ) Settled EUR (3) USD — — (0.7 ) 0.7 — GBP USD — — 19.7 7.1 43.3 Total Settled — — 19.0 7.8 43.3 Total 8.5 (83.9 ) (130.1 ) 7.8 37.5 Noncontrolling interests — 62.8 118.3 — — Total - Kennedy Wilson share $ 8.5 $ (21.1 ) $ (11.8 ) $ 7.8 $ 37.5 (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. 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 September 30, 2016 and December 31, 2015 for the senior notes payable and investment debt were estimated to be approximately $5.1 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 the Company's credit risk to the current yield of a similar security, compared to their carrying value of $ 5.0 billion and $4.4 billion at September 30, 2016 and December 31, 2015 , respectively. The inputs used to value the Company's 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	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following: (Dollars in millions) September 30, 2016 December 31, 2015 Above-market leases, net of accumulated amortization of $27.5 and $19.6 at September 30, 2016 and December 31, 2015, respectively $ 86.9 $ 103.3 Other, net of accumulated amortization of $5.1 and $3.1 at September 30, 2016 and December 31, 2015, respectively 56.5 40.4 Deferred tax asset, net 32.8 22.2 Office furniture and equipment net of accumulated depreciation of $22.5 and $14.0 at September 30, 2016 and December 31, 2015, respectively 25.9 27.9 Goodwill 23.9 23.9 Prepaid expenses 14.2 10.1 Hedge assets 8.5 30.9 Marketable securities (1) 5.4 4.3 Deposits 2.2 4.2 Other Assets $ 256.3 $ 267.2 (1) The amount above excludes Kennedy Wilson's 29.6 million shares in KWE as the investment is eliminated due to the consolidation of KWE's results. Kennedy Wilson's investment in KWE had a market value of approximately $ 385.0 million (cost basis of $ 486.7 million ) based on a per share price of $13.02 at September 30, 2016 .

Investment Debt

Investment Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
INVESTMENT DEBT	INVESTMENT DEBT Investment debt at September 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 September 30, December 31, Mortgage debt Multifamily (1) Western U.S. $ 1,075.2 $ 835.2 Commercial Western U.S. 313.8 286.4 Residential, Hotel and Other Western U.S 39.0 39.4 Commercial Japan — 2.0 Commercial (1)(2) Ireland 360.1 380.3 Multifamily (1)(2) Ireland 140.2 187.1 Residential and Other (1)(2) Ireland 23.8 7.3 Hotel Ireland 80.9 78.2 Residential and Other (1)(2) Spain 3.5 3.4 Commercial (2) Spain 94.0 — Commercial (1)(2) United Kingdom 681.7 976.2 Secured investment debt 2,812.2 2,795.5 Unsecured investment debt (1)(2) United Kingdom 1,262.2 862.7 Investment debt (excluding loan fees) $ 4,074.4 $ 3,658.2 Unamortized loan fees (26.8 ) (30.7 ) Total Investment debt $ 4,047.6 $ 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 premium (discount) as of September 30, 2016 and December 31, 2015 was $1.8 million and $(5.4) million , respectively. (2) Kennedy Wilson owned approximately 21.8% and 18.2% of the total issued share capital of KWE as of September 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 September 30, December 31, Commercial (1)(2) Ireland 278.1 286.7 Multifamily (1)(2) Ireland — 51.5 Residential and Other (1)(2) Spain 3.5 3.4 Commercial (1)(2) Spain 94.0 — Commercial (1)(2) United Kingdom 612.8 897.9 Investment debt $ 988.4 $ 1,239.5 Unsecured (1)(2) United Kingdom 1,262.2 862.7 Investment debt (excluding loan fees) $ 2,250.6 $ 2,102.2 Unamortized loan fees (15.3 ) (19.4 ) Total Investment debt $ 2,235.3 $ 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 September 30, 2016 and December 31, 2015 was $4.5 million and $13.6 million , respectively. (2) Kennedy Wilson owned approximately 21.8% and 18.2% of the total issued share capital of KWE as of September 30, 2016 and December 31, 2015 , respectively. The investment debt had a weighted average interest rate of 3.22% and 3.19% per annum at September 30, 2016 and December 31, 2015 , respectively. As of September 30, 2016 , 72% of KW Group's investment level debt is fixed rate, 15% is floating rate with interest caps and 13% 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 $389.2 million (based on September 30, 2016 rates) ( £300 million ) in 3.95% fixed-rate senior unsecured bonds due 2022. During the third quarter of 2016, KWE completed an additional offering of approximately $259.4 million (based on September 30, 2016 rates) ( £200 million ) in 3.95% fixed-rate senior unsecured bonds due 2022. 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 $2.6 billion based on September 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 $617.9 million (based on September 30, 2016 rates) ( €550 million ) (the "KWE Notes"). The KWE Notes were issued at a discount and have a carrying value of $613.8 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 nine months ended September 30, 2016 , KW Group recognized a loss of $59.7 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 September 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 $291.9 million ( £225 million ) based on rates as of September 30, 2016 . As of September 30, 2016 , the unsecured credit facility was undrawn, with $291.9 million ( £225 million ) still available based on rates as of September 30, 2016 . During the nine months ended September 30, 2016 , one mortgage loan was consolidated, six acquisitions were partially financed with mortgages, two existing mortgages were refinanced, four properties acquired supplemental financing, and two existing investments that closed all equity financing were subsequently partially financed with mortgages. Two properties at KWE repaid mortgages with proceeds from KWE bond that was issued during the third quarter. See note 4 for more detail on the acquisitions and the investment debt associated with them. The aggregate maturities of investment debt subsequent to September 30, 2016 are as follows: (Dollars in millions) Aggregate Maturities 2016 $ 4.3 2017 201.0 2018 202.5 2019 615.4 2020 241.2 Thereafter 2,808.2 4,072.6 Debt premium 1.8 Unamortized loan fees (26.8 ) $ 4,047.6

Senior Notes

Senior Notes	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
SENIOR NOTES	SENIOR NOTES September 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 900.0 (2.2 ) 897.8 650.0 (2.4 ) 647.6 Senior Notes $ 955.0 $ (2.2 ) $ 952.8 $ 705.0 $ (2.4 ) $ 702.6 Unamortized loan fees (16.3 ) (13.8 ) Total Senior Notes $ 936.5 $ 688.8 In August 2016, Kennedy Wilson, Inc., (the "Issuer") completed an additional public offering of $250.0 million aggregate principal amount of 5.875% Senior Notes due 2024 (the "Notes"). The Notes were issued as additional notes under the indenture pursuant to which the Issuer previously issued $650 million aggregate principal amount of its 5.875% Senior Notes due 2024 (the “Initial Notes"). The Notes have substantially identical terms as the Initial Notes and will be treated as a single series with the Initial Notes under the indenture. The Notes were issued and sold at a public offering price of 100.0% of their principal amount, plus accrued interest from, and including, April 1, 2016. The indentures governing the 2024 Notes and 2042 Notes contain various restrictive covenants, including, among others, limitations on the Company's ability and the ability of certain of the Company's subsidiaries to incur or guarantee additional indebtedness, to make restricted payments, pay dividends or make any other distributions from restricted subsidiaries, redeem or repurchase capital stock, sell assets or subsidiary stock, engage in transactions with affiliates, create or permit liens on assets, enter into sale/leaseback transactions, and enter into consolidations or mergers. The indentures governing the 2024 and 2042 Notes limit the ability of Kennedy Wilson and its restricted subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the new indebtedness, the maximum balance sheet leverage ratio (as defined in the indenture) is greater than 1.50 to 1.00. This ratio is measured at the time of incurrence of additional indebtedness. As of September 30, 2016 , the maximum balance sheet leverage ratio was 0.90 to 1.00. See Note 15 for the guarantor and non-guarantor financial statements.

Borrowings Under Lines of Credi

Borrowings Under Lines of Credit	9 Months Ended
	Sep. 30, 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 September 30, 2015, 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 September 30, 2016 , the Borrower’s consolidated leverage ratio was 59.7% , its fixed charge coverage ratio was 3.0 to 1.00, its consolidated tangible net worth was $1,266.7 million , its adjusted secured leverage ratio was 41.8% , its secured recourse leverage ratio was 1.5% , its recourse leverage ratio was 0.81 , and liquidity was $738.3 million . The obligations of the Borrower pursuant to the Credit Agreement are guaranteed by KWH and certain of its wholly-owned subsidiaries. During the nine months ended September 30, 2016 , the Borrower drew $125.0 million and repaid $125.0 million on its unsecured credit facility to fund acquisitions. The maximum amount drawn on the unsecured credit facility at any one point during the nine months ended September 30, 2016 was $125.0 million . As of September 30, 2016 , there was $0.0 million outstanding under the unsecured credit facility, and $475.0 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	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 , Kennedy Wilson repurchased and retired 1,453,837 shares for $28.7 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: Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 (Dollars in millions) Declared Paid Declared Paid Preferred Stock Series A (1) $ — $ — $ 1.5 $ 1.5 Series B (2) 1.6 1.6 1.6 1.6 Total Preferred Stock 1.6 1.6 3.1 3.1 Common Stock 48.1 45.9 39.5 34.6 Total (3) $ 49.7 $ 47.5 $ 42.6 $ 37.7 (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) $32.6 million of Series B mandatory convertible preferred stock with a mandatory conversion date of November 3, 2018. The conversion price for the Series B mandatory convertible preferred stock was $9.79 and $9.98 per share as of September 30, 2016 and December 31, 2015 , respectively, and is subject to further adjustment pursuant to customary anti-dilution provisions. (3) The difference between declared and paid is the amount accrued on the consolidated balance sheets. Share-based Compensation During the three months ended September 30, 2016 and 2015 , KW Group recognized $15.6 million and $5.5 million of compensation expense related to the vesting of restricted stock grants. During the nine months ended September 30, 2016 and 2015 , KW Group recognized $47.8 million and $19.6 million of compensation expense related to the vesting of restricted stock grants. The increase for the three and nine months ended September 30, 2016 is mainly due to 60% of the expense of the restricted stock that was granted in 2012 under the Company’s Amended and Restated 2009 Equity Participation Plan being incurred during April 2016 to March 2017 due to the cliff vesting that is scheduled to occur in 2017. A portion of the increase was also attributed to the restricted stock that was granted during the fourth quarter of 2015. Upon vesting, the restricted stock granted to employees discussed directly above is net share-settled to cover the withholding tax. Shares that vested during the three months and nine months ended September 30, 2016 and 2015 were net-share settled such that the Company withheld shares with value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. The total shares withheld during the three months ended September 30, 2016 and 2015 were 0 shares and 2,026 shares, respectively, and were based on the value of the restricted stock on the respective vesting dates as determined by the Company’s closing stock price. The total shares withheld during the nine months ended September 30, 2016 and 2015 were 693,942 shares and 434,287 shares. During the three months ended September 30, 2016 and 2015 , total payments for the employees’ tax obligations to the taxing authorities were $0 million and $0.2 million , respectively. During the nine months ended September 30, 2016 and 2015, total payments for the employees’ tax obligations to the taxing authorities were $14.6 million and $11.5 million , respectively. These figures are reflected as a financing activity within KW Group’s Consolidated Statements of Cash Flows. 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 (67.9 ) (129.4 ) 0.3 (197.0 ) Noncontrolling interest 50.8 118.3 — 169.1 Amounts reclassified out of AOCI during the period, gross 6.4 (0.7 ) — 5.7 Amounts reclassified out of AOCI during the period, tax (2.6 ) 0.3 — (2.3 ) Taxes on unrealized gains (losses), arising during the period 6.2 4.4 (0.1 ) 10.5 Balance at September 30, 2016 $ (77.0 ) $ 15.3 $ — $ (61.7 ) 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 U.S. dollars even though KWE does not invest in U.S. 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 . The local currencies for the Company's interests in foreign operations include the euro, the British pound sterling, and the Japanese yen. The related amounts on KW Group's balance sheets are translated into U.S. dollars at the exchange rates at the respective financial statement date, while amounts on its statements of operations are translated at the average exchange rates during the respective period. The increase in the unrealized losses on foreign currency translation is a result of the strengthening of the U.S. dollar against the euro, the British pound and the Japanese yen during the nine months ended September 30, 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. Noncontrolling Interests Noncontrolling interests consist of the ownership interests of noncontrolling shareholders in consolidated subsidiaries, and are presented separately on KW Group's balance sheet. As of September 30, 2016 and December 31, 2015 KW Group had noncontrolling interest of $1.5 billion and $1.7 billion , respectively. Kennedy Wilson currently owns approximately 21.8% of KWE’s total issued share capital as of September 30, 2016 . The noncontrolling interest holders in KWE had an equity balance of $1.3 billion as of September 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	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 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 $ (2.5 ) $ 14.9 $ (11.6 ) $ 42.6 Dividends allocated to participating securities (0.4 ) (0.6 ) (1.3 ) (1.9 ) Net loss (income) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities (2.9 ) 14.3 (12.9 ) 40.7 Dividends declared on common shares (15.6 ) (13.0 ) (46.7 ) (37.8 ) Undistributed (losses) earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ (18.5 ) $ 1.3 $ (59.6 ) $ 2.9 Distributed earnings per share $ 0.14 $ 0.12 $ 0.42 $ 0.36 Undistributed (losses) earnings per share (0.17 ) 0.01 (0.54 ) 0.04 (Loss) income per basic (0.03 ) 0.13 (0.12 ) 0.40 (Loss) income per diluted $ (0.03 ) $ 0.13 $ (0.12 ) $ 0.40 Weighted average shares outstanding for basic 108,634,228 107,433,124 108,966,540 101,361,606 Weighted average shares outstanding for diluted (1) 108,634,228 107,433,124 108,966,540 105,517,172 Dividends declared per common share $ 0.14 $ 0.12 $ 0.42 $ 0.36 (1) For the three and nine months ended September 30, 2016 , a total of 3,782,564 and 3,493,709 potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive. For the three and nine months ended September 30, 2015 , a total of 3,538,420 and 3,163,589 potentially dilutive securities have not been included in the diluted weighted average shares as they are anti-dilutive. Potentially anti-dilutive securities include preferred stock and unvested restricted stock grants.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 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 September 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 the Company's 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 the Company's through fees and commissions. The Company manages approximately 59 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, the Company has 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 the Company's investment strategy by providing local market intelligence and real-time data for evaluating investments, generating proprietary transaction flow and creating value through efficient implementation of asset management or repositioning strategies. The following tables summarize income activity by segment and corporate for the three and nine months ended September 30, 2016 and 2015 and balance sheet data as of September 30, 2016 and December 31, 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Investments Rental $ 122.9 $ 106.6 $ 363.1 $ 295.3 Hotel 31.4 31.3 87.3 78.0 Sale of real estate 2.5 1.6 16.7 3.7 Loan purchases, loan originations and other 3.4 4.6 9.2 13.4 Total revenue 160.2 144.1 476.3 390.4 Operating expenses (80.4 ) (70.9 ) (241.7 ) (204.4 ) Depreciation and amortization (50.0 ) (44.9 ) (147.3 ) (119.5 ) Income from unconsolidated investments 31.3 15.0 56.6 40.6 Operating income 61.1 43.3 143.9 107.1 Gain on sale of real estate 21.5 4.6 76.0 44.7 Acquisition-related gains 7.6 29.9 16.2 87.2 Acquisition-related expenses (1.0 ) (8.2 ) (9.4 ) (28.3 ) Interest expense - investments (36.8 ) (31.3 ) (102.9 ) (77.9 ) Other 1.9 (4.3 ) 7.6 (0.7 ) Income before provision for income taxes 54.3 34.0 131.4 132.1 Provision for income taxes 1.6 — (2.6 ) — Net income 55.9 34.0 128.8 132.1 Net (income) loss attributable to the noncontrolling interests (15.1 ) 10.4 (41.3 ) 14.6 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 40.8 $ 44.4 $ 87.5 $ 146.7 Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Investment Management and Real Estate Services Investment management, property services and research fees (includes $5.4, $8.0, $22.9 and $26.7 of related party fees, respectively) $ 14.1 $ 15.1 $ 46.7 $ 47.0 Total revenue 14.1 15.1 46.7 47.0 Operating expenses (14.2 ) (16.1 ) (43.6 ) (44.2 ) Income from unconsolidated investments 0.4 0.9 2.7 3.5 Operating income (loss) 0.3 (0.1 ) 5.8 6.3 Net income attributable to the noncontrolling interests — — — 0.4 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 0.3 $ (0.1 ) $ 5.8 $ 6.7 Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Corporate Operating expenses $ (21.5 ) $ (12.6 ) $ (65.0 ) $ (39.7 ) Operating loss (21.5 ) (12.6 ) (65.0 ) (39.7 ) Interest expense-corporate (14.5 ) (11.7 ) (38.8 ) (35.5 ) Loss before provision for income taxes (36.0 ) (24.3 ) (103.8 ) (75.2 ) (Provision for) benefit from income taxes (7.1 ) (4.5 ) 0.5 (32.5 ) Net loss (43.1 ) (28.8 ) (103.3 ) (107.7 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (0.5 ) (1.6 ) (3.1 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (43.6 ) $ (29.3 ) $ (104.9 ) $ (110.8 ) Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Consolidated Rental $ 122.9 $ 106.6 $ 363.1 $ 295.3 Hotel 31.4 31.3 87.3 78.0 Sale of real estate 2.5 1.6 16.7 3.7 Investment management, property services and research fees (includes $5.4, $8.0, $22.9 and $26.7 of related party fees) 14.1 15.1 46.7 47.0 Loans and other 3.4 4.6 9.2 13.4 Total revenue 174.3 159.2 523.0 437.4 Operating expenses (116.1 ) (99.6 ) (350.3 ) (288.3 ) Depreciation and amortization (50.0 ) (44.9 ) (147.3 ) (119.5 ) Total operating expenses (166.1 ) (144.5 ) (497.6 ) (407.8 ) Income from unconsolidated investments 31.7 15.9 59.3 44.1 Operating income 39.9 30.6 84.7 73.7 Gain on sale of real estate 21.5 4.6 76.0 44.7 Acquisition-related gain 7.6 29.9 16.2 87.2 Acquisition-related expenses (1.0 ) (8.2 ) (9.4 ) (28.3 ) Interest expense - investment (36.8 ) (31.3 ) (102.9 ) (77.9 ) Interest expense - corporate (14.5 ) (11.7 ) (38.8 ) (35.5 ) Other 1.9 (4.3 ) 7.6 (0.7 ) Income before benefit from income taxes 18.6 9.6 33.4 63.2 Provision for income taxes (5.5 ) (4.5 ) (2.1 ) (32.5 ) Net income 13.1 5.1 31.3 30.7 Net (income) loss attributable to the noncontrolling interests (15.1 ) 10.3 (41.3 ) 15.0 Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (0.5 ) (1.6 ) (3.1 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (2.5 ) $ 14.9 $ (11.6 ) $ 42.6 (Dollars in millions) September 30, 2016 December 31, 2015 Total Assets Investments $ 7,667.4 $ 7,418.6 Investment management and real estate services 70.3 58.1 Corporate 229.1 118.9 Total assets $ 7,966.8 $ 7,595.6

Income Taxes

Income Taxes	9 Months Ended
	Sep. 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 as well as amounts attributable to foreign sourced income and noncontrolling interests. During the nine months ended September 30, 2016 , KW Group generated pretax book income of $33.4 million related to its global operations, and recorded a tax provision of $2.1 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, 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 reversed 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 operate a hotel businesses in Ireland and Scotland. As of September 30, 2016 , two of the Company's subsidiaries in Ireland had positive, accumulated earnings of $5.7 million . U.S. domestic taxes have not been provided on amounts earned by the Company's Irish subsidiaries as the Company plans to indefinitely reinvest amounts earned by these subsidiaries. If these earnings were repatriated to the United States, additional U.S. domestic taxes of $1.3 million would be incurred.

Guarantor and Non-Guarantor Fin

Guarantor and Non-Guarantor Financial Statements	9 Months Ended
	Sep. 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 September 30, 2016 and December 31, 2015 ; consolidating statements of operations for the three and nine months ended September 30, 2016 and 2015 ; consolidating statements of comprehensive income for the three and nine months ended September 30, 2016 and 2015 ; and condensed consolidating statements of cash flows for the nine months ended September 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 nine months ended September 30, 2016 or 2015 . CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 124.2 $ 36.2 $ 122.3 $ — $ 282.7 Cash held by consolidated investments — — — 692.5 — 692.5 Accounts receivable — — 35.9 28.2 — 64.1 Loan purchases and originations — 0.3 12.0 96.9 — 109.2 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,483.7 4,645.4 — 6,129.1 Unconsolidated investments — 17.6 283.8 131.5 — 432.9 Investments in and advances to consolidated subsidiaries 1,079.1 2,010.8 1,256.6 — (4,346.5 ) — Other assets — 3.2 37.3 215.8 — 256.3 Total assets $ 1,079.1 $ 2,156.1 $ 3,145.5 $ 5,932.6 $ (4,346.5 ) $ 7,966.8 Liabilities and equity Liabilities Accounts payable $ — $ 0.1 $ 2.1 $ 12.4 $ — $ 14.6 Accrued expenses and other liabilities 15.9 140.4 274.6 9.2 — 440.1 Investment debt — — 858.0 3,189.6 — 4,047.6 Senior notes payable — 936.5 — — — 936.5 Line of credit — — — — — — Total liabilities 15.9 1,077.0 1,134.7 3,211.2 — 5,438.8 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,063.2 1,079.1 2,010.8 1,256.6 (4,346.5 ) 1,063.2 Noncontrolling interests — — — 1,464.8 — 1,464.8 Total equity 1,063.2 1,079.1 2,010.8 2,721.4 (4,346.5 ) 2,528.0 Total liabilities and equity $ 1,079.1 $ 2,156.1 $ 3,145.5 $ 5,932.6 $ (4,346.5 ) $ 7,966.8 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 SEPTEMBER 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 $ — $ — $ 12.1 $ 2.0 $ — $ 14.1 Rental — — 30.7 92.2 — 122.9 Hotel — — — 31.4 — 31.4 Sale of real estate — — 2.5 — — 2.5 Loan purchases, loan originations and other — 0.1 0.2 3.1 — 3.4 Total revenue — 0.1 45.5 128.7 — 174.3 Operating expenses Commission and marketing — — 2.4 0.1 — 2.5 Rental operating — — 11.9 22.7 — 34.6 Hotel operating — — — 23.8 — 23.8 Cost of real estate sold — — 2.4 0.1 — 2.5 Compensation and related 15.5 13.9 10.9 1.9 — 42.2 General and administrative — 3.5 4.4 2.6 — 10.5 Depreciation and amortization — 0.4 10.5 39.1 — 50.0 Total operating expenses 15.5 17.8 42.5 90.3 — 166.1 Income from unconsolidated subsidiaries — 0.7 22.8 8.2 — 31.7 Income from consolidated subsidiaries 28.6 64.5 37.1 — (130.2 ) — Operating income (loss) 13.1 47.5 62.9 46.6 (130.2 ) 39.9 Non-operating income (expense) Acquisition-related gains — — 7.6 — — 7.6 Acquisition-related expenses — — (0.9 ) (0.1 ) — (1.0 ) Interest expense-investment — — (6.8 ) (30.0 ) — (36.8 ) Interest expense-corporate — (14.5 ) — — — (14.5 ) Gain on sale of real estate — — 0.4 21.1 — 21.5 Other income / (expense) — 0.3 — 1.6 — 1.9 Income (loss) before benefit from income taxes 13.1 33.3 63.2 39.2 (130.2 ) 18.6 (Provision for) benefit from income taxes — (4.7 ) 1.3 (2.1 ) — (5.5 ) Net income (loss) 13.1 28.6 64.5 37.1 (130.2 ) 13.1 Net (income) loss attributable to the noncontrolling interests — — — (15.1 ) — (15.1 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 13.1 28.6 64.5 22.0 (130.2 ) (2.0 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 12.6 $ 28.6 $ 64.5 $ 22.0 $ (130.2 ) $ (2.5 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 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 $ — $ — $ 43.2 $ 3.5 $ — $ 46.7 Rental — — 81.9 281.2 — 363.1 Hotel — — — 87.3 — 87.3 Sale of real estate — — 12.2 4.5 — 16.7 Loan purchases, loan originations and other — 0.1 0.8 8.3 — 9.2 Total revenue — 0.1 138.1 384.8 — 523.0 Operating expenses Commission and marketing — — 5.6 0.4 — 6.0 Rental operating — — 34.0 64.4 — 98.4 Hotel operating — — — 71.9 — 71.9 Cost of real estate sold — — 9.6 3.5 — 13.1 Compensation and related 47.8 39.5 35.4 5.7 — 128.4 General and administrative — 10.5 12.1 9.9 — 32.5 Depreciation and amortization — 1.0 28.0 118.3 — 147.3 Total operating expenses 47.8 51.0 124.7 274.1 — 497.6 Income from unconsolidated subsidiaries — 3.8 31.3 24.2 — 59.3 Income from consolidated subsidiaries 79.1 158.3 125.4 — (362.8 ) — Operating income (loss) 31.3 111.2 170.1 134.9 (362.8 ) 84.7 Non-operating income (expense) Acquisition-related gains — — 7.6 8.6 — 16.2 Acquisition-related expenses — — (2.1 ) (7.3 ) — (9.4 ) Interest expense-investment — — (17.8 ) (85.1 ) — (102.9 ) Interest expense-corporate — (38.8 ) — — — (38.8 ) Gain on sale of real estate — — 0.8 75.2 — 76.0 Other income / (expense) — 7.6 (2.6 ) 2.6 — 7.6 Income (loss) before benefit from income taxes 31.3 80.0 156.0 128.9 (362.8 ) 33.4 (Provision for) benefit from income taxes — (0.9 ) 2.3 (3.5 ) — (2.1 ) Net income (loss) 31.3 79.1 158.3 125.4 (362.8 ) 31.3 Net (income) loss attributable to the noncontrolling interests — — — (41.3 ) — (41.3 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 31.3 79.1 158.3 84.1 (362.8 ) (10.0 ) Preferred dividends and accretion of preferred stock issuance costs (1.6 ) — — — — (1.6 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 29.7 $ 79.1 $ 158.3 $ 84.1 $ (362.8 ) $ (11.6 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services, and research fees $ — $ — $ 14.7 $ 0.4 $ — $ 15.1 Rental — — 19.2 87.4 — 106.6 Hotel — — — 31.3 — 31.3 Sale of real estate — — 0.1 1.5 — 1.6 Loan purchases, loan originations and other — — 0.2 4.4 — 4.6 Total revenue — — 34.2 125.0 — 159.2 Operating expenses Commission and marketing — — 1.1 0.1 — 1.2 Rental operating — — 8.0 21.4 — 29.4 Hotel operating — — — 22.7 — 22.7 Cost of real estate sold — — — 1.1 — 1.1 Compensation and related 5.5 17.0 11.0 1.7 — 35.2 General and administrative — 3.6 4.9 1.5 — 10.0 Depreciation and amortization — 0.1 5.7 39.1 — 44.9 Total operating expenses 5.5 20.7 30.7 87.6 — 144.5 Income from unconsolidated investments, net of depreciation and amortization — (1.2 ) 20.0 (2.9 ) — 15.9 Income from consolidated subsidiaries 10.6 44.0 (35.0 ) — (19.6 ) — Operating income (loss) 5.1 22.1 (11.5 ) 34.5 (19.6 ) 30.6 Non-operating income (expense) Acquisition-related gains — — 61.6 (31.7 ) — 29.9 Acquisition-related expense — (0.1 ) (0.4 ) (7.7 ) — (8.2 ) Interest expense-investment — — (4.6 ) (26.7 ) — (31.3 ) Interest expense-corporate — (11.7 ) — — — (11.7 ) Gain (loss) on sale of real estate — — — 4.6 — 4.6 Other income / (expense) — 0.4 0.1 (4.8 ) — (4.3 ) Income (loss) before benefit from income taxes 5.1 10.7 45.2 (31.8 ) (19.6 ) 9.6 (Provision for) benefit from income taxes — (0.1 ) (1.2 ) (3.2 ) — (4.5 ) Net income (loss) 5.1 10.6 44.0 (35.0 ) (19.6 ) 5.1 Net (income) loss attributable to the noncontrolling interests — — — 10.3 — 10.3 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 5.1 10.6 44.0 (24.7 ) (19.6 ) 15.4 Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 4.6 $ 10.6 $ 44.0 $ (24.7 ) $ (19.6 ) $ 14.9 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services, and research fees $ — $ — $ 44.9 $ 2.1 $ — $ 47.0 Rental — — 44.0 251.3 — 295.3 Hotel — — — 78.0 — 78.0 Sale of real estate — — 0.1 3.6 — 3.7 Loan purchases, loan originations and other — — 1.0 12.4 — 13.4 Total revenue — — 90.0 347.4 — 437.4 Operating expenses Commission and marketing — 1.0 2.7 0.7 — 4.4 Rental operating — — 16.2 62.3 — 78.5 Hotel operating — — — 66.1 — 66.1 Cost of real estate sold — — — 2.6 — 2.6 Compensation and related 19.6 46.9 32.4 6.5 — 105.4 General and administrative — 11.0 12.2 8.1 — 31.3 Depreciation and amortization — 0.5 14.2 104.8 — 119.5 Total operating expenses 19.6 59.4 77.7 251.1 — 407.8 Income from unconsolidated investments, net of depreciation and amortization — — 37.6 6.5 — 44.1 Income from consolidated subsidiaries 50.3 148.7 49.0 — (248.0 ) — Operating income (loss) 30.7 89.3 98.9 102.8 (248.0 ) 73.7 Non-operating income (expense) Acquisition-related gains — — 61.6 25.6 — 87.2 Acquisition-related expense — (0.4 ) (0.6 ) (27.3 ) — (28.3 ) Interest expense-investment — — (10.1 ) (67.8 ) — (77.9 ) Interest expense-corporate — (35.5 ) — — — (35.5 ) Gain (loss) on sale of real estate — — — 44.7 — 44.7 Other income / (expense) — 0.3 0.1 (1.1 ) — (0.7 ) Income (loss) before benefit from income taxes 30.7 53.7 149.9 76.9 (248.0 ) 63.2 (Provision for) benefit from income taxes — (3.4 ) (1.2 ) (27.9 ) — (32.5 ) Net income (loss) 30.7 50.3 148.7 49.0 (248.0 ) 30.7 Net (income) loss attributable to the noncontrolling interests — — — 15.0 — 15.0 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 30.7 50.3 148.7 64.0 (248.0 ) 45.7 Preferred dividends and accretion of preferred stock issuance costs (3.1 ) — — — — (3.1 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 27.6 $ 50.3 $ 148.7 $ 64.0 $ (248.0 ) $ 42.6 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 13.1 $ 28.6 $ 64.5 $ 37.1 $ (130.2 ) $ 13.1 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (1.1 ) (1.1 ) (2.2 ) (0.1 ) 3.4 (1.1 ) Unrealized loss on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Amounts reclassified out of AOCI during the period 0.7 0.7 — 0.7 (1.4 ) 0.7 Unrealized currency derivative contracts gain (loss) (35.6 ) (35.6 ) 1.4 (37.0 ) 71.2 (35.6 ) Total other comprehensive (loss) income for the period $ (35.9 ) $ (35.9 ) $ (0.8 ) $ (36.4 ) $ 73.1 $ (35.9 ) Comprehensive (loss) income $ (22.8 ) $ (7.3 ) $ 63.7 $ 0.7 $ (57.1 ) $ (22.8 ) Comprehensive loss attributable to noncontrolling interests — — — 15.7 — 15.7 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (22.8 ) $ (7.3 ) $ 63.7 $ 16.4 $ (57.1 ) $ (7.1 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ 5.1 $ 10.6 $ 44.0 $ (35.0 ) $ (19.6 ) $ 5.1 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains (51.8 ) (51.8 ) (1.0 ) (138.3 ) 191.1 (51.8 ) Amounts reclassified out of AOCI during the period (0.3 ) (0.3 ) (0.3 ) — 0.6 (0.3 ) Unrealized currency derivative contracts (loss) gain (8.3 ) (8.3 ) 5.8 (14.1 ) 16.6 (8.3 ) Total other comprehensive income for the period $ (60.4 ) $ (60.4 ) $ 4.5 $ (152.4 ) $ 208.3 $ (60.4 ) Comprehensive (loss) income $ (55.3 ) $ (49.8 ) $ 48.5 $ (187.4 ) $ 188.7 $ (55.3 ) Comprehensive (income) loss attributable to noncontrolling interests — — — 67.9 — 67.9 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (55.3 ) $ (49.8 ) $ 48.5 $ (119.5 ) $ 188.7 $ 12.6 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 31.3 $ 79.1 $ 158.3 $ 125.4 $ (362.8 ) $ 31.3 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (61.7 ) (61.7 ) (8.7 ) (64.4 ) 134.8 (61.7 ) Unrealized loss on marketable securities 0.2 0.2 — — (0.2 ) 0.2 Amounts reclassified from accumulated other comprehensive income 3.4 3.4 — 3.4 (6.8 ) 3.4 Unrealized currency derivative contracts gain (loss) (125.0 ) (125.0 ) 11.8 (136.8 ) 250.0 (125.0 ) Total other comprehensive (loss) income for the period $ (183.1 ) $ (183.1 ) $ 3.1 $ (197.8 ) $ 377.8 $ (183.1 ) Comprehensive (loss) income $ (151.8 ) $ (104.0 ) $ 161.4 $ (72.4 ) $ 15.0 $ (151.8 ) Comprehensive loss attributable to noncontrolling interests — — — 127.8 — 127.8 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (151.8 ) $ (104.0 ) $ 161.4 $ 55.4 $ 15.0 $ (24.0 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 30.7 $ 50.3 $ 148.7 $ 49.0 $ (248.0 ) $ 30.7 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (88.0 ) (88.0 ) (9.4 ) (23.8 ) 121.2 (88.0 ) Unrealized gain on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Amounts reclassified out of AOCI during the period 9.7 9.7 (0.6 ) 10.3 (19.4 ) 9.7 Unrealized currency derivative contracts gain (loss) 6.7 6.7 8.3 (1.6 ) (13.4 ) 6.7 Total other comprehensive (loss) income for the period $ (71.5 ) $ (71.5 ) $ (1.7 ) $ (15.1 ) $ 88.3 $ (71.5 ) Comprehensive (loss) income $ (40.8 ) $ (21.2 ) $ 147.0 $ 33.9 $ (159.7 ) $ (40.8 ) Comprehensive loss attributable to noncontrolling interests — — — 78.3 — 78.3 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (40.8 ) $ (21.2 ) $ 147.0 $ 112.2 $ (159.7 ) $ 37.5 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 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 ) $ (224.2 ) $ 213.2 $ 89.6 $ 78.4 Cash flows from investing activities: Additions to loans — (11.6 ) (4.5 ) — (16.1 ) Collections of loans — 6.6 5.0 133.8 145.4 Net proceeds from sale of real estate — — 11.5 254.5 266.0 Purchases of and additions to real estate — — (297.1 ) (451.3 ) (748.4 ) Proceeds from settlement of foreign derivative contracts — 43.3 — — 43.3 Purchases of foreign derivative contracts — (5.8 ) — — (5.8 ) Investment in marketable securities — — (0.9 ) — (0.9 ) Distributions from unconsolidated investments — — 28.7 34.7 63.4 Contributions to unconsolidated investments — (1.0 ) (52.5 ) (16.8 ) (70.3 ) (Investments in) distributions from consolidated subsidiaries, net 91.1 (9.9 ) (115.1 ) 33.9 — Net cash provided by investing activities 91.1 21.6 (424.9 ) (11.2 ) (323.4 ) Cash flows from financing activities: Borrowings under senior notes payable — 250.0 — — 250.0 Borrowings under line of credit — 125.0 — — 125.0 Repayment of line of credit — (125.0 ) — — (125.0 ) Borrowings under investment debt — — 236.7 696.7 933.4 Repayment of investment debt (24.6 ) (382.5 ) (407.1 ) Debt issue costs — (3.5 ) (1.2 ) (4.7 ) (9.4 ) Repurchase and retirement of common stock (43.4 ) — — — (43.4 ) Dividends paid (47.5 ) — — — (47.5 ) Acquisition of KWE shares from noncontrolling interest holders — — — (70.6 ) (70.6 ) Contributions from noncontrolling interests, excluding KWE — — — 25.3 25.3 Distributions to noncontrolling interests — — — (94.8 ) (94.8 ) Net cash (used in) provided by financing activities (90.9 ) 246.5 210.9 169.4 535.9 Effect of currency exchange rate changes on cash and cash equivalents — — — (47.3 ) (47.3 ) Net change in cash and cash equivalents — 43.9 (0.8 ) 200.5 243.6 Cash and cash equivalents, beginning of period — 80.2 37.0 614.4 731.6 Cash and cash equivalents, end of period $ — $ 124.1 $ 36.2 $ 814.9 $ 975.2 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided (used in) by operating activities $ 4.8 $ 41.2 $ 103.9 $ (35.7 ) $ 114.2 Cash flows from investing activities: Additions to loans — (39.0 ) — (194.9 ) (233.9 ) Collections of loans — — 8.7 6.6 15.3 Net proceeds from sale of real estate — — — 523.4 523.4 Purchases of and additions to real estate — — (186.3 ) (1,347.7 ) (1,534.0 ) Additions to nonrefundable escrow deposits — — — — — Proceeds from settlement of foreign derivative contracts — 17.9 — 18.3 36.2 Purchases of foreign derivative contracts — (3.7 ) — (1.5 ) (5.2 ) Proceeds from sale of marketable securities — — 6.2 — 6.2 Distributions from unconsolidated investments — — 44.5 47.5 92.0 Contributions to unconsolidated investments — (1.5 ) (67.4 ) (86.3 ) (155.2 ) (Investments in) distributions from consolidated subsidiaries, net (170.7 ) 113.1 18.9 38.7 — Net cash (used in) provided by investing activities (170.7 ) 86.8 (175.4 ) (995.9 ) (1,255.2 ) Cash flows from financing activities: Borrowings under line of credit — 75.0 — — 75.0 Repayment of lines of credit — (200.0 ) — — (200.0 ) Borrowings under investment debt — — 84.0 1,548.2 1,632.2 Repayment of investment debt — — (5.1 ) (615.1 ) (620.2 ) Debt issue costs — (0.7 ) (0.9 ) (13.4 ) (15.0 ) Issuance of common stock 215.0 — — — 215.0 Repurchase and retirement of common stock (11.4 ) — — — (11.4 ) Dividends paid (37.7 ) — — — (37.7 ) Acquisition of KWE shares from noncontrolling interest holders — — — (59.5 ) (59.5 ) Contributions from noncontrolling interests, excluding KWE — — — 6.5 6.5 Distributions to noncontrolling interests — — — (205.8 ) (205.8 ) Net cash provided by (used in) financing activities 165.9 (125.7 ) 78.0 660.9 779.1 Effect of currency exchange rate changes on cash and cash equivalents — — — (34.2 ) (34.2 ) Net change in cash and cash equivalents — 2.3 6.5 (404.9 ) (396.1 ) Cash and cash equivalents, beginning of period — 38.2 21.0 878.5 937.7 Cash and cash equivalents, end of period $ — $ 40.5 $ 27.5 $ 473.6 $ 541.6

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company and an equity partner acquired Equinox, a 204 -unit multifamily community in Seattle, Washington, for $90.3 million . The company and its equity partner invested $38.0 million of equity (inclusive of closing costs), of which the company’s share is 51% . The Company sold a wholly-owned 175,000 sq. ft. office building located in North Hollywood, CA for $61.5 million . Kennedy Wilson received $28.5 million in net proceeds resulting in an approximate $12.8 million cash profit over the life of the investment and an 1.6 x equity multiple. Subsequent to the quarter, the Company and its equity partners entered into separate contracts to sell five investments ( three multifamily properties, one office property and a residential land investment) at an aggregate purchase price of approximately $309 million and a contract to purchase a multifamily investment for approximately $93 million . The Company’s equity investment in the acquisition has not yet been determined and these transactions are subject to certain conditions and there can be no assurances that we will complete them. On September 28, 2016, Kennedy Wilson Europe announced a share repurchase of up to £100 million . As of November 3, 2016, KWE had repurchased and retired 4.9 million shares for a total purchase price of £50.0 million. As of November 3, 2016, Kennedy Wilson owns 22.6% of the outstanding share capital of KWE. 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 Pronouncements (Policies)	9 Months Ended
	Sep. 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 the Company's 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 the Company 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 the Company's 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 Company's results of 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 and 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 the Company's 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 the Company's 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. ASU 2016-02 is required to be adopted for fiscal years beginning after December 15, 2018. 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 nine 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.
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.

Real Estate and In-Place Leas27

Real Estate and In-Place Lease Value (Tables)	9 Months Ended
	Sep. 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 September 30, 2016 and December 31, 2015 : September 30, December 31, (Dollars in millions) 2016 2015 Land $ 1,548.8 $ 1,471.5 Buildings 4,190.5 3,905.5 Building improvements 330.2 247.2 In-place lease values 415.9 421.8 6,485.4 6,046.0 Less accumulated depreciation and amortization (356.3 ) (248.5 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 6,129.1 $ 5,797.5 During the nine months ended September 30, 2016 , KW Group recognized the following gains on sale of real estate: (Dollars in millions) Gain on sale of real estate Description Consolidated NCI Net of NCI KW One commercial property in each Japan, United Kingdom and Ireland, one condo unit, a vacant lot and a parcel of land in the Western U.S. $ 29.0 $ 11.9 $ 17.1 KWE 30 commercial properties in the United Kingdom 50.6 40.4 10.2 KW Group $ 79.6 $ 52.3 $ 27.3
Schedule of Business Acquisitions, by Acquisition	During the nine months ended September 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 retail centers, five multifamily and two residential properties (5) $ 114.1 $ 271.3 $ 8.7 $ 231.3 $ 2.0 $ 160.8 United Kingdom Portfolio of 10 office properties and one commercial property 39.0 79.2 16.6 — 106.2 28.6 Ireland Three commercial properties and one development property (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 — 15.3 4.0 $ 180.3 $ 452.5 $ 31.4 $ 231.3 $ 215.1 $ 217.8 (1) Excludes acquisition expenses and net other assets. The purchase price allocations for properties acquired during the nine months ended September 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 21.8% of the total issued share capital of KWE as of September 30, 2016 . (5) During the nine months ended September 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 . Additionally, KW Group purchased equity partners' interests and consolidated a development project in Kona, HI that was previously accounted for as an equity method investment resulting in acquisition related gains of $7.6 million .
Business Acquisition, Pro Forma Information	The pro forma data presented below assumes that the acquisitions during the three and nine months ended September 30, 2016 occurred as of January 1, 2015. Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions, except for per share data) 2016 2015 2016 2015 Pro forma revenues $ 176.5 $ 169.3 $ 542.1 $ 467.3 Pro forma income from unconsolidated subsidiaries 31.2 15.9 59.1 44.9 Pro forma net (loss) income (1) 6.8 11.7 28.4 50.4 Pro forma net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders (1) (8.8 ) 19.2 (17.3 ) 55.5 Pro forma net (loss) income per share: Basic $ (0.08 ) $ 0.18 $ (0.16 ) $ 0.55 Diluted $ (0.08 ) $ 0.18 $ (0.16 ) $ 0.53 (1) Excludes nonrecurring gains of $7.6 million and $16.2 million for the three and nine months ended September 30, 2016 , respectively.

Unconsolidated Investments (Tab

Unconsolidated Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Joint Ventures by Location and Investment Type	The following table details the Company's unconsolidated investments by investment type and geographic location as of September 30, 2016 : (Dollars in millions) Multifamily Commercial Loan Residential Other Total Western U.S. $ 147.9 $ 49.9 $ — $ 180.6 $ 16.1 $ 394.5 Japan 7.0 — — — — 7.0 United Kingdom — 16.1 — — — 16.1 Spain — — — — 15.3 15.3 Total $ 154.9 $ 66.0 $ — $ 180.6 $ 31.4 $ 432.9 The following table details the Company's unconsolidated investments 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 1.3 — — 24.6 Spain — — — — 12.8 12.8 Total $ 150.6 $ 74.7 $ 13.5 $ 180.1 $ 26.0 $ 444.9
Schedule of Joint Venture Cash Distributions by Investment Type and Geographic Location	The following table details cash distributions by investment type and geographic location for the nine months ended September 30, 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. $ 44.5 $ 43.9 $ 8.8 $ 13.5 $ — $ — $ 0.5 $ 5.3 $ 53.8 $ 62.7 United Kingdom — — — — — 0.7 — — — 0.7 Japan 0.1 — — — — — — — 0.1 — Total $ 44.6 $ 43.9 $ 8.8 $ 13.5 $ — $ 0.7 $ 0.5 $ 5.3 $ 53.9 $ 63.4

Fair Value Measurements and t29

Fair Value Measurements and the Fair Value Option (Tables)	9 Months Ended
	Sep. 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 September 30, 2016 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 227.0 $ 227.0 Marketable securities 5.4 — — 5.4 Currency derivative contracts — (75.3 ) — (75.3 ) Total $ 5.4 $ (75.3 ) $ 227.0 $ 157.1 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 the Company's investments in unconsolidated investments held at fair value by type: (Dollars in millions) September 30, 2016 December 31, 2015 FV Option $ 185.8 $ 193.2 Funds 41.2 30.6 Total $ 227.0 $ 223.8
Schedule of Changes in Level 3 Investments	The following table presents changes in Level 3 investments for the three and nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Beginning balance $ 236.6 $ 186.6 $ 223.8 $ 85.9 Unrealized and realized gains 10.1 11.1 36.2 29.3 Unrealized and realized losses (0.6 ) — (0.1 ) (0.1 ) Contributions 10.2 16.5 30.3 107.7 Distributions (29.2 ) (8.1 ) (64.0 ) (16.4 ) Other (0.1 ) — 0.8 (0.3 ) Ending balance $ 227.0 $ 206.1 $ 227.0 $ 206.1
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 4.75% - 9.00% 7.25% - 11.25% Retail 6.25% - 9.00% 7.50% - 12.75% Multifamily 4.75% - 7.75% 8.00% - 9.75% 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 September 30, 2016 and the activity during the nine months ended September 30, 2016 : (Dollars in millions) September 30, 2016 Nine Months Ended September 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 $ (2.7 ) $ (1.9 ) $ — $ — EUR (1) GBP € 360.0 — (80.2 ) (89.2 ) — — EUR (1)(2) GBP — — (59.7 ) — — GBP USD £295.2 8.2 — 2.5 — (5.8 ) Yen USD ¥ 757.0 — (1.0 ) (0.8 ) — — Total Outstanding 8.5 (83.9 ) (149.1 ) — (5.8 ) Settled EUR (3) USD — — (0.7 ) 0.7 — GBP USD — — 19.7 7.1 43.3 Total Settled — — 19.0 7.8 43.3 Total 8.5 (83.9 ) (130.1 ) 7.8 37.5 Noncontrolling interests — 62.8 118.3 — — Total - Kennedy Wilson share $ 8.5 $ (21.1 ) $ (11.8 ) $ 7.8 $ 37.5 (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.

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: (Dollars in millions) September 30, 2016 December 31, 2015 Above-market leases, net of accumulated amortization of $27.5 and $19.6 at September 30, 2016 and December 31, 2015, respectively $ 86.9 $ 103.3 Other, net of accumulated amortization of $5.1 and $3.1 at September 30, 2016 and December 31, 2015, respectively 56.5 40.4 Deferred tax asset, net 32.8 22.2 Office furniture and equipment net of accumulated depreciation of $22.5 and $14.0 at September 30, 2016 and December 31, 2015, respectively 25.9 27.9 Goodwill 23.9 23.9 Prepaid expenses 14.2 10.1 Hedge assets 8.5 30.9 Marketable securities (1) 5.4 4.3 Deposits 2.2 4.2 Other Assets $ 256.3 $ 267.2 (1) The amount above excludes Kennedy Wilson's 29.6 million shares in KWE as the investment is eliminated due to the consolidation of KWE's results. Kennedy Wilson's investment in KWE had a market value of approximately $ 385.0 million (cost basis of $ 486.7 million ) based on a per share price of $13.02 at September 30, 2016 .

Investment Debt (Tables)

Investment Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Mortgage Loans and Notes Payable	Investment debt at September 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 September 30, December 31, Mortgage debt Multifamily (1) Western U.S. $ 1,075.2 $ 835.2 Commercial Western U.S. 313.8 286.4 Residential, Hotel and Other Western U.S 39.0 39.4 Commercial Japan — 2.0 Commercial (1)(2) Ireland 360.1 380.3 Multifamily (1)(2) Ireland 140.2 187.1 Residential and Other (1)(2) Ireland 23.8 7.3 Hotel Ireland 80.9 78.2 Residential and Other (1)(2) Spain 3.5 3.4 Commercial (2) Spain 94.0 — Commercial (1)(2) United Kingdom 681.7 976.2 Secured investment debt 2,812.2 2,795.5 Unsecured investment debt (1)(2) United Kingdom 1,262.2 862.7 Investment debt (excluding loan fees) $ 4,074.4 $ 3,658.2 Unamortized loan fees (26.8 ) (30.7 ) Total Investment debt $ 4,047.6 $ 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 premium (discount) as of September 30, 2016 and December 31, 2015 was $1.8 million and $(5.4) million , respectively. (2) Kennedy Wilson owned approximately 21.8% and 18.2% of the total issued share capital of KWE as of September 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 September 30, December 31, Commercial (1)(2) Ireland 278.1 286.7 Multifamily (1)(2) Ireland — 51.5 Residential and Other (1)(2) Spain 3.5 3.4 Commercial (1)(2) Spain 94.0 — Commercial (1)(2) United Kingdom 612.8 897.9 Investment debt $ 988.4 $ 1,239.5 Unsecured (1)(2) United Kingdom 1,262.2 862.7 Investment debt (excluding loan fees) $ 2,250.6 $ 2,102.2 Unamortized loan fees (15.3 ) (19.4 ) Total Investment debt $ 2,235.3 $ 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 September 30, 2016 and December 31, 2015 was $4.5 million and $13.6 million , respectively. (2) Kennedy Wilson owned approximately 21.8% and 18.2% of the total issued share capital of KWE as of September 30, 2016 and December 31, 2015 , respectively. September 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 900.0 (2.2 ) 897.8 650.0 (2.4 ) 647.6 Senior Notes $ 955.0 $ (2.2 ) $ 952.8 $ 705.0 $ (2.4 ) $ 702.6 Unamortized loan fees (16.3 ) (13.8 ) Total Senior Notes $ 936.5 $ 688.8
Schedule of Maturities of Mortgage Loans and Notes Payable	The aggregate maturities of investment debt subsequent to September 30, 2016 are as follows: (Dollars in millions) Aggregate Maturities 2016 $ 4.3 2017 201.0 2018 202.5 2019 615.4 2020 241.2 Thereafter 2,808.2 4,072.6 Debt premium 1.8 Unamortized loan fees (26.8 ) $ 4,047.6

Senior Notes (Tables)

Senior Notes (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Senior Notes	Investment debt at September 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 September 30, December 31, Mortgage debt Multifamily (1) Western U.S. $ 1,075.2 $ 835.2 Commercial Western U.S. 313.8 286.4 Residential, Hotel and Other Western U.S 39.0 39.4 Commercial Japan — 2.0 Commercial (1)(2) Ireland 360.1 380.3 Multifamily (1)(2) Ireland 140.2 187.1 Residential and Other (1)(2) Ireland 23.8 7.3 Hotel Ireland 80.9 78.2 Residential and Other (1)(2) Spain 3.5 3.4 Commercial (2) Spain 94.0 — Commercial (1)(2) United Kingdom 681.7 976.2 Secured investment debt 2,812.2 2,795.5 Unsecured investment debt (1)(2) United Kingdom 1,262.2 862.7 Investment debt (excluding loan fees) $ 4,074.4 $ 3,658.2 Unamortized loan fees (26.8 ) (30.7 ) Total Investment debt $ 4,047.6 $ 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 premium (discount) as of September 30, 2016 and December 31, 2015 was $1.8 million and $(5.4) million , respectively. (2) Kennedy Wilson owned approximately 21.8% and 18.2% of the total issued share capital of KWE as of September 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 September 30, December 31, Commercial (1)(2) Ireland 278.1 286.7 Multifamily (1)(2) Ireland — 51.5 Residential and Other (1)(2) Spain 3.5 3.4 Commercial (1)(2) Spain 94.0 — Commercial (1)(2) United Kingdom 612.8 897.9 Investment debt $ 988.4 $ 1,239.5 Unsecured (1)(2) United Kingdom 1,262.2 862.7 Investment debt (excluding loan fees) $ 2,250.6 $ 2,102.2 Unamortized loan fees (15.3 ) (19.4 ) Total Investment debt $ 2,235.3 $ 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 September 30, 2016 and December 31, 2015 was $4.5 million and $13.6 million , respectively. (2) Kennedy Wilson owned approximately 21.8% and 18.2% of the total issued share capital of KWE as of September 30, 2016 and December 31, 2015 , respectively. September 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 900.0 (2.2 ) 897.8 650.0 (2.4 ) 647.6 Senior Notes $ 955.0 $ (2.2 ) $ 952.8 $ 705.0 $ (2.4 ) $ 702.6 Unamortized loan fees (16.3 ) (13.8 ) Total Senior Notes $ 936.5 $ 688.8

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 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: Nine Months Ended September 30, 2016 Nine Months Ended September 30, 2015 (Dollars in millions) Declared Paid Declared Paid Preferred Stock Series A (1) $ — $ — $ 1.5 $ 1.5 Series B (2) 1.6 1.6 1.6 1.6 Total Preferred Stock 1.6 1.6 3.1 3.1 Common Stock 48.1 45.9 39.5 34.6 Total (3) $ 49.7 $ 47.5 $ 42.6 $ 37.7 (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) $32.6 million of Series B mandatory convertible preferred stock with a mandatory conversion date of November 3, 2018. The conversion price for the Series B mandatory convertible preferred stock was $9.79 and $9.98 per share as of September 30, 2016 and December 31, 2015 , respectively, and is subject to further adjustment pursuant to customary anti-dilution provisions. (3) 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 (67.9 ) (129.4 ) 0.3 (197.0 ) Noncontrolling interest 50.8 118.3 — 169.1 Amounts reclassified out of AOCI during the period, gross 6.4 (0.7 ) — 5.7 Amounts reclassified out of AOCI during the period, tax (2.6 ) 0.3 — (2.3 ) Taxes on unrealized gains (losses), arising during the period 6.2 4.4 (0.1 ) 10.5 Balance at September 30, 2016 $ (77.0 ) $ 15.3 $ — $ (61.7 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 and 2015 : Three Months Ended September 30, Nine Months Ended September 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 $ (2.5 ) $ 14.9 $ (11.6 ) $ 42.6 Dividends allocated to participating securities (0.4 ) (0.6 ) (1.3 ) (1.9 ) Net loss (income) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities (2.9 ) 14.3 (12.9 ) 40.7 Dividends declared on common shares (15.6 ) (13.0 ) (46.7 ) (37.8 ) Undistributed (losses) earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ (18.5 ) $ 1.3 $ (59.6 ) $ 2.9 Distributed earnings per share $ 0.14 $ 0.12 $ 0.42 $ 0.36 Undistributed (losses) earnings per share (0.17 ) 0.01 (0.54 ) 0.04 (Loss) income per basic (0.03 ) 0.13 (0.12 ) 0.40 (Loss) income per diluted $ (0.03 ) $ 0.13 $ (0.12 ) $ 0.40 Weighted average shares outstanding for basic 108,634,228 107,433,124 108,966,540 101,361,606 Weighted average shares outstanding for diluted (1) 108,634,228 107,433,124 108,966,540 105,517,172 Dividends declared per common share $ 0.14 $ 0.12 $ 0.42 $ 0.36 (1) For the three and nine months ended September 30, 2016 , a total of 3,782,564 and 3,493,709 potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive. For the three and nine months ended September 30, 2015 , a total of 3,538,420 and 3,163,589 potentially dilutive securities have not been included in the diluted weighted average shares as they are anti-dilutive. Potentially anti-dilutive securities include preferred stock and unvested restricted stock grants.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2016 and 2015 and balance sheet data as of September 30, 2016 and December 31, 2015 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Investments Rental $ 122.9 $ 106.6 $ 363.1 $ 295.3 Hotel 31.4 31.3 87.3 78.0 Sale of real estate 2.5 1.6 16.7 3.7 Loan purchases, loan originations and other 3.4 4.6 9.2 13.4 Total revenue 160.2 144.1 476.3 390.4 Operating expenses (80.4 ) (70.9 ) (241.7 ) (204.4 ) Depreciation and amortization (50.0 ) (44.9 ) (147.3 ) (119.5 ) Income from unconsolidated investments 31.3 15.0 56.6 40.6 Operating income 61.1 43.3 143.9 107.1 Gain on sale of real estate 21.5 4.6 76.0 44.7 Acquisition-related gains 7.6 29.9 16.2 87.2 Acquisition-related expenses (1.0 ) (8.2 ) (9.4 ) (28.3 ) Interest expense - investments (36.8 ) (31.3 ) (102.9 ) (77.9 ) Other 1.9 (4.3 ) 7.6 (0.7 ) Income before provision for income taxes 54.3 34.0 131.4 132.1 Provision for income taxes 1.6 — (2.6 ) — Net income 55.9 34.0 128.8 132.1 Net (income) loss attributable to the noncontrolling interests (15.1 ) 10.4 (41.3 ) 14.6 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 40.8 $ 44.4 $ 87.5 $ 146.7 Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Investment Management and Real Estate Services Investment management, property services and research fees (includes $5.4, $8.0, $22.9 and $26.7 of related party fees, respectively) $ 14.1 $ 15.1 $ 46.7 $ 47.0 Total revenue 14.1 15.1 46.7 47.0 Operating expenses (14.2 ) (16.1 ) (43.6 ) (44.2 ) Income from unconsolidated investments 0.4 0.9 2.7 3.5 Operating income (loss) 0.3 (0.1 ) 5.8 6.3 Net income attributable to the noncontrolling interests — — — 0.4 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 0.3 $ (0.1 ) $ 5.8 $ 6.7 Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Corporate Operating expenses $ (21.5 ) $ (12.6 ) $ (65.0 ) $ (39.7 ) Operating loss (21.5 ) (12.6 ) (65.0 ) (39.7 ) Interest expense-corporate (14.5 ) (11.7 ) (38.8 ) (35.5 ) Loss before provision for income taxes (36.0 ) (24.3 ) (103.8 ) (75.2 ) (Provision for) benefit from income taxes (7.1 ) (4.5 ) 0.5 (32.5 ) Net loss (43.1 ) (28.8 ) (103.3 ) (107.7 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (0.5 ) (1.6 ) (3.1 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (43.6 ) $ (29.3 ) $ (104.9 ) $ (110.8 ) Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2016 2015 2016 2015 Consolidated Rental $ 122.9 $ 106.6 $ 363.1 $ 295.3 Hotel 31.4 31.3 87.3 78.0 Sale of real estate 2.5 1.6 16.7 3.7 Investment management, property services and research fees (includes $5.4, $8.0, $22.9 and $26.7 of related party fees) 14.1 15.1 46.7 47.0 Loans and other 3.4 4.6 9.2 13.4 Total revenue 174.3 159.2 523.0 437.4 Operating expenses (116.1 ) (99.6 ) (350.3 ) (288.3 ) Depreciation and amortization (50.0 ) (44.9 ) (147.3 ) (119.5 ) Total operating expenses (166.1 ) (144.5 ) (497.6 ) (407.8 ) Income from unconsolidated investments 31.7 15.9 59.3 44.1 Operating income 39.9 30.6 84.7 73.7 Gain on sale of real estate 21.5 4.6 76.0 44.7 Acquisition-related gain 7.6 29.9 16.2 87.2 Acquisition-related expenses (1.0 ) (8.2 ) (9.4 ) (28.3 ) Interest expense - investment (36.8 ) (31.3 ) (102.9 ) (77.9 ) Interest expense - corporate (14.5 ) (11.7 ) (38.8 ) (35.5 ) Other 1.9 (4.3 ) 7.6 (0.7 ) Income before benefit from income taxes 18.6 9.6 33.4 63.2 Provision for income taxes (5.5 ) (4.5 ) (2.1 ) (32.5 ) Net income 13.1 5.1 31.3 30.7 Net (income) loss attributable to the noncontrolling interests (15.1 ) 10.3 (41.3 ) 15.0 Preferred dividends and accretion of preferred stock issuance costs (0.5 ) (0.5 ) (1.6 ) (3.1 ) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (2.5 ) $ 14.9 $ (11.6 ) $ 42.6 (Dollars in millions) September 30, 2016 December 31, 2015 Total Assets Investments $ 7,667.4 $ 7,418.6 Investment management and real estate services 70.3 58.1 Corporate 229.1 118.9 Total assets $ 7,966.8 $ 7,595.6

Guarantor and Non-Guarantor F36

Guarantor and Non-Guarantor Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2016
Guarantor and Nonguarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 124.2 $ 36.2 $ 122.3 $ — $ 282.7 Cash held by consolidated investments — — — 692.5 — 692.5 Accounts receivable — — 35.9 28.2 — 64.1 Loan purchases and originations — 0.3 12.0 96.9 — 109.2 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,483.7 4,645.4 — 6,129.1 Unconsolidated investments — 17.6 283.8 131.5 — 432.9 Investments in and advances to consolidated subsidiaries 1,079.1 2,010.8 1,256.6 — (4,346.5 ) — Other assets — 3.2 37.3 215.8 — 256.3 Total assets $ 1,079.1 $ 2,156.1 $ 3,145.5 $ 5,932.6 $ (4,346.5 ) $ 7,966.8 Liabilities and equity Liabilities Accounts payable $ — $ 0.1 $ 2.1 $ 12.4 $ — $ 14.6 Accrued expenses and other liabilities 15.9 140.4 274.6 9.2 — 440.1 Investment debt — — 858.0 3,189.6 — 4,047.6 Senior notes payable — 936.5 — — — 936.5 Line of credit — — — — — — Total liabilities 15.9 1,077.0 1,134.7 3,211.2 — 5,438.8 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,063.2 1,079.1 2,010.8 1,256.6 (4,346.5 ) 1,063.2 Noncontrolling interests — — — 1,464.8 — 1,464.8 Total equity 1,063.2 1,079.1 2,010.8 2,721.4 (4,346.5 ) 2,528.0 Total liabilities and equity $ 1,079.1 $ 2,156.1 $ 3,145.5 $ 5,932.6 $ (4,346.5 ) $ 7,966.8 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 SEPTEMBER 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 $ — $ — $ 12.1 $ 2.0 $ — $ 14.1 Rental — — 30.7 92.2 — 122.9 Hotel — — — 31.4 — 31.4 Sale of real estate — — 2.5 — — 2.5 Loan purchases, loan originations and other — 0.1 0.2 3.1 — 3.4 Total revenue — 0.1 45.5 128.7 — 174.3 Operating expenses Commission and marketing — — 2.4 0.1 — 2.5 Rental operating — — 11.9 22.7 — 34.6 Hotel operating — — — 23.8 — 23.8 Cost of real estate sold — — 2.4 0.1 — 2.5 Compensation and related 15.5 13.9 10.9 1.9 — 42.2 General and administrative — 3.5 4.4 2.6 — 10.5 Depreciation and amortization — 0.4 10.5 39.1 — 50.0 Total operating expenses 15.5 17.8 42.5 90.3 — 166.1 Income from unconsolidated subsidiaries — 0.7 22.8 8.2 — 31.7 Income from consolidated subsidiaries 28.6 64.5 37.1 — (130.2 ) — Operating income (loss) 13.1 47.5 62.9 46.6 (130.2 ) 39.9 Non-operating income (expense) Acquisition-related gains — — 7.6 — — 7.6 Acquisition-related expenses — — (0.9 ) (0.1 ) — (1.0 ) Interest expense-investment — — (6.8 ) (30.0 ) — (36.8 ) Interest expense-corporate — (14.5 ) — — — (14.5 ) Gain on sale of real estate — — 0.4 21.1 — 21.5 Other income / (expense) — 0.3 — 1.6 — 1.9 Income (loss) before benefit from income taxes 13.1 33.3 63.2 39.2 (130.2 ) 18.6 (Provision for) benefit from income taxes — (4.7 ) 1.3 (2.1 ) — (5.5 ) Net income (loss) 13.1 28.6 64.5 37.1 (130.2 ) 13.1 Net (income) loss attributable to the noncontrolling interests — — — (15.1 ) — (15.1 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 13.1 28.6 64.5 22.0 (130.2 ) (2.0 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 12.6 $ 28.6 $ 64.5 $ 22.0 $ (130.2 ) $ (2.5 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 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 $ — $ — $ 43.2 $ 3.5 $ — $ 46.7 Rental — — 81.9 281.2 — 363.1 Hotel — — — 87.3 — 87.3 Sale of real estate — — 12.2 4.5 — 16.7 Loan purchases, loan originations and other — 0.1 0.8 8.3 — 9.2 Total revenue — 0.1 138.1 384.8 — 523.0 Operating expenses Commission and marketing — — 5.6 0.4 — 6.0 Rental operating — — 34.0 64.4 — 98.4 Hotel operating — — — 71.9 — 71.9 Cost of real estate sold — — 9.6 3.5 — 13.1 Compensation and related 47.8 39.5 35.4 5.7 — 128.4 General and administrative — 10.5 12.1 9.9 — 32.5 Depreciation and amortization — 1.0 28.0 118.3 — 147.3 Total operating expenses 47.8 51.0 124.7 274.1 — 497.6 Income from unconsolidated subsidiaries — 3.8 31.3 24.2 — 59.3 Income from consolidated subsidiaries 79.1 158.3 125.4 — (362.8 ) — Operating income (loss) 31.3 111.2 170.1 134.9 (362.8 ) 84.7 Non-operating income (expense) Acquisition-related gains — — 7.6 8.6 — 16.2 Acquisition-related expenses — — (2.1 ) (7.3 ) — (9.4 ) Interest expense-investment — — (17.8 ) (85.1 ) — (102.9 ) Interest expense-corporate — (38.8 ) — — — (38.8 ) Gain on sale of real estate — — 0.8 75.2 — 76.0 Other income / (expense) — 7.6 (2.6 ) 2.6 — 7.6 Income (loss) before benefit from income taxes 31.3 80.0 156.0 128.9 (362.8 ) 33.4 (Provision for) benefit from income taxes — (0.9 ) 2.3 (3.5 ) — (2.1 ) Net income (loss) 31.3 79.1 158.3 125.4 (362.8 ) 31.3 Net (income) loss attributable to the noncontrolling interests — — — (41.3 ) — (41.3 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 31.3 79.1 158.3 84.1 (362.8 ) (10.0 ) Preferred dividends and accretion of preferred stock issuance costs (1.6 ) — — — — (1.6 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 29.7 $ 79.1 $ 158.3 $ 84.1 $ (362.8 ) $ (11.6 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services, and research fees $ — $ — $ 14.7 $ 0.4 $ — $ 15.1 Rental — — 19.2 87.4 — 106.6 Hotel — — — 31.3 — 31.3 Sale of real estate — — 0.1 1.5 — 1.6 Loan purchases, loan originations and other — — 0.2 4.4 — 4.6 Total revenue — — 34.2 125.0 — 159.2 Operating expenses Commission and marketing — — 1.1 0.1 — 1.2 Rental operating — — 8.0 21.4 — 29.4 Hotel operating — — — 22.7 — 22.7 Cost of real estate sold — — — 1.1 — 1.1 Compensation and related 5.5 17.0 11.0 1.7 — 35.2 General and administrative — 3.6 4.9 1.5 — 10.0 Depreciation and amortization — 0.1 5.7 39.1 — 44.9 Total operating expenses 5.5 20.7 30.7 87.6 — 144.5 Income from unconsolidated investments, net of depreciation and amortization — (1.2 ) 20.0 (2.9 ) — 15.9 Income from consolidated subsidiaries 10.6 44.0 (35.0 ) — (19.6 ) — Operating income (loss) 5.1 22.1 (11.5 ) 34.5 (19.6 ) 30.6 Non-operating income (expense) Acquisition-related gains — — 61.6 (31.7 ) — 29.9 Acquisition-related expense — (0.1 ) (0.4 ) (7.7 ) — (8.2 ) Interest expense-investment — — (4.6 ) (26.7 ) — (31.3 ) Interest expense-corporate — (11.7 ) — — — (11.7 ) Gain (loss) on sale of real estate — — — 4.6 — 4.6 Other income / (expense) — 0.4 0.1 (4.8 ) — (4.3 ) Income (loss) before benefit from income taxes 5.1 10.7 45.2 (31.8 ) (19.6 ) 9.6 (Provision for) benefit from income taxes — (0.1 ) (1.2 ) (3.2 ) — (4.5 ) Net income (loss) 5.1 10.6 44.0 (35.0 ) (19.6 ) 5.1 Net (income) loss attributable to the noncontrolling interests — — — 10.3 — 10.3 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 5.1 10.6 44.0 (24.7 ) (19.6 ) 15.4 Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 4.6 $ 10.6 $ 44.0 $ (24.7 ) $ (19.6 ) $ 14.9 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Investment management, property services, and research fees $ — $ — $ 44.9 $ 2.1 $ — $ 47.0 Rental — — 44.0 251.3 — 295.3 Hotel — — — 78.0 — 78.0 Sale of real estate — — 0.1 3.6 — 3.7 Loan purchases, loan originations and other — — 1.0 12.4 — 13.4 Total revenue — — 90.0 347.4 — 437.4 Operating expenses Commission and marketing — 1.0 2.7 0.7 — 4.4 Rental operating — — 16.2 62.3 — 78.5 Hotel operating — — — 66.1 — 66.1 Cost of real estate sold — — — 2.6 — 2.6 Compensation and related 19.6 46.9 32.4 6.5 — 105.4 General and administrative — 11.0 12.2 8.1 — 31.3 Depreciation and amortization — 0.5 14.2 104.8 — 119.5 Total operating expenses 19.6 59.4 77.7 251.1 — 407.8 Income from unconsolidated investments, net of depreciation and amortization — — 37.6 6.5 — 44.1 Income from consolidated subsidiaries 50.3 148.7 49.0 — (248.0 ) — Operating income (loss) 30.7 89.3 98.9 102.8 (248.0 ) 73.7 Non-operating income (expense) Acquisition-related gains — — 61.6 25.6 — 87.2 Acquisition-related expense — (0.4 ) (0.6 ) (27.3 ) — (28.3 ) Interest expense-investment — — (10.1 ) (67.8 ) — (77.9 ) Interest expense-corporate — (35.5 ) — — — (35.5 ) Gain (loss) on sale of real estate — — — 44.7 — 44.7 Other income / (expense) — 0.3 0.1 (1.1 ) — (0.7 ) Income (loss) before benefit from income taxes 30.7 53.7 149.9 76.9 (248.0 ) 63.2 (Provision for) benefit from income taxes — (3.4 ) (1.2 ) (27.9 ) — (32.5 ) Net income (loss) 30.7 50.3 148.7 49.0 (248.0 ) 30.7 Net (income) loss attributable to the noncontrolling interests — — — 15.0 — 15.0 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 30.7 50.3 148.7 64.0 (248.0 ) 45.7 Preferred dividends and accretion of preferred stock issuance costs (3.1 ) — — — — (3.1 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 27.6 $ 50.3 $ 148.7 $ 64.0 $ (248.0 ) $ 42.6
Consolidated Statement of Comprehensive Income	CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 13.1 $ 28.6 $ 64.5 $ 37.1 $ (130.2 ) $ 13.1 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (1.1 ) (1.1 ) (2.2 ) (0.1 ) 3.4 (1.1 ) Unrealized loss on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Amounts reclassified out of AOCI during the period 0.7 0.7 — 0.7 (1.4 ) 0.7 Unrealized currency derivative contracts gain (loss) (35.6 ) (35.6 ) 1.4 (37.0 ) 71.2 (35.6 ) Total other comprehensive (loss) income for the period $ (35.9 ) $ (35.9 ) $ (0.8 ) $ (36.4 ) $ 73.1 $ (35.9 ) Comprehensive (loss) income $ (22.8 ) $ (7.3 ) $ 63.7 $ 0.7 $ (57.1 ) $ (22.8 ) Comprehensive loss attributable to noncontrolling interests — — — 15.7 — 15.7 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (22.8 ) $ (7.3 ) $ 63.7 $ 16.4 $ (57.1 ) $ (7.1 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ 5.1 $ 10.6 $ 44.0 $ (35.0 ) $ (19.6 ) $ 5.1 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains (51.8 ) (51.8 ) (1.0 ) (138.3 ) 191.1 (51.8 ) Amounts reclassified out of AOCI during the period (0.3 ) (0.3 ) (0.3 ) — 0.6 (0.3 ) Unrealized currency derivative contracts (loss) gain (8.3 ) (8.3 ) 5.8 (14.1 ) 16.6 (8.3 ) Total other comprehensive income for the period $ (60.4 ) $ (60.4 ) $ 4.5 $ (152.4 ) $ 208.3 $ (60.4 ) Comprehensive (loss) income $ (55.3 ) $ (49.8 ) $ 48.5 $ (187.4 ) $ 188.7 $ (55.3 ) Comprehensive (income) loss attributable to noncontrolling interests — — — 67.9 — 67.9 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (55.3 ) $ (49.8 ) $ 48.5 $ (119.5 ) $ 188.7 $ 12.6 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 31.3 $ 79.1 $ 158.3 $ 125.4 $ (362.8 ) $ 31.3 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (61.7 ) (61.7 ) (8.7 ) (64.4 ) 134.8 (61.7 ) Unrealized loss on marketable securities 0.2 0.2 — — (0.2 ) 0.2 Amounts reclassified from accumulated other comprehensive income 3.4 3.4 — 3.4 (6.8 ) 3.4 Unrealized currency derivative contracts gain (loss) (125.0 ) (125.0 ) 11.8 (136.8 ) 250.0 (125.0 ) Total other comprehensive (loss) income for the period $ (183.1 ) $ (183.1 ) $ 3.1 $ (197.8 ) $ 377.8 $ (183.1 ) Comprehensive (loss) income $ (151.8 ) $ (104.0 ) $ 161.4 $ (72.4 ) $ 15.0 $ (151.8 ) Comprehensive loss attributable to noncontrolling interests — — — 127.8 — 127.8 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (151.8 ) $ (104.0 ) $ 161.4 $ 55.4 $ 15.0 $ (24.0 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 30.7 $ 50.3 $ 148.7 $ 49.0 $ (248.0 ) $ 30.7 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain (88.0 ) (88.0 ) (9.4 ) (23.8 ) 121.2 (88.0 ) Unrealized gain on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Amounts reclassified out of AOCI during the period 9.7 9.7 (0.6 ) 10.3 (19.4 ) 9.7 Unrealized currency derivative contracts gain (loss) 6.7 6.7 8.3 (1.6 ) (13.4 ) 6.7 Total other comprehensive (loss) income for the period $ (71.5 ) $ (71.5 ) $ (1.7 ) $ (15.1 ) $ 88.3 $ (71.5 ) Comprehensive (loss) income $ (40.8 ) $ (21.2 ) $ 147.0 $ 33.9 $ (159.7 ) $ (40.8 ) Comprehensive loss attributable to noncontrolling interests — — — 78.3 — 78.3 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (40.8 ) $ (21.2 ) $ 147.0 $ 112.2 $ (159.7 ) $ 37.5
Condensed Consolidated Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 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 ) $ (224.2 ) $ 213.2 $ 89.6 $ 78.4 Cash flows from investing activities: Additions to loans — (11.6 ) (4.5 ) — (16.1 ) Collections of loans — 6.6 5.0 133.8 145.4 Net proceeds from sale of real estate — — 11.5 254.5 266.0 Purchases of and additions to real estate — — (297.1 ) (451.3 ) (748.4 ) Proceeds from settlement of foreign derivative contracts — 43.3 — — 43.3 Purchases of foreign derivative contracts — (5.8 ) — — (5.8 ) Investment in marketable securities — — (0.9 ) — (0.9 ) Distributions from unconsolidated investments — — 28.7 34.7 63.4 Contributions to unconsolidated investments — (1.0 ) (52.5 ) (16.8 ) (70.3 ) (Investments in) distributions from consolidated subsidiaries, net 91.1 (9.9 ) (115.1 ) 33.9 — Net cash provided by investing activities 91.1 21.6 (424.9 ) (11.2 ) (323.4 ) Cash flows from financing activities: Borrowings under senior notes payable — 250.0 — — 250.0 Borrowings under line of credit — 125.0 — — 125.0 Repayment of line of credit — (125.0 ) — — (125.0 ) Borrowings under investment debt — — 236.7 696.7 933.4 Repayment of investment debt (24.6 ) (382.5 ) (407.1 ) Debt issue costs — (3.5 ) (1.2 ) (4.7 ) (9.4 ) Repurchase and retirement of common stock (43.4 ) — — — (43.4 ) Dividends paid (47.5 ) — — — (47.5 ) Acquisition of KWE shares from noncontrolling interest holders — — — (70.6 ) (70.6 ) Contributions from noncontrolling interests, excluding KWE — — — 25.3 25.3 Distributions to noncontrolling interests — — — (94.8 ) (94.8 ) Net cash (used in) provided by financing activities (90.9 ) 246.5 210.9 169.4 535.9 Effect of currency exchange rate changes on cash and cash equivalents — — — (47.3 ) (47.3 ) Net change in cash and cash equivalents — 43.9 (0.8 ) 200.5 243.6 Cash and cash equivalents, beginning of period — 80.2 37.0 614.4 731.6 Cash and cash equivalents, end of period $ — $ 124.1 $ 36.2 $ 814.9 $ 975.2 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2015 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided (used in) by operating activities $ 4.8 $ 41.2 $ 103.9 $ (35.7 ) $ 114.2 Cash flows from investing activities: Additions to loans — (39.0 ) — (194.9 ) (233.9 ) Collections of loans — — 8.7 6.6 15.3 Net proceeds from sale of real estate — — — 523.4 523.4 Purchases of and additions to real estate — — (186.3 ) (1,347.7 ) (1,534.0 ) Additions to nonrefundable escrow deposits — — — — — Proceeds from settlement of foreign derivative contracts — 17.9 — 18.3 36.2 Purchases of foreign derivative contracts — (3.7 ) — (1.5 ) (5.2 ) Proceeds from sale of marketable securities — — 6.2 — 6.2 Distributions from unconsolidated investments — — 44.5 47.5 92.0 Contributions to unconsolidated investments — (1.5 ) (67.4 ) (86.3 ) (155.2 ) (Investments in) distributions from consolidated subsidiaries, net (170.7 ) 113.1 18.9 38.7 — Net cash (used in) provided by investing activities (170.7 ) 86.8 (175.4 ) (995.9 ) (1,255.2 ) Cash flows from financing activities: Borrowings under line of credit — 75.0 — — 75.0 Repayment of lines of credit — (200.0 ) — — (200.0 ) Borrowings under investment debt — — 84.0 1,548.2 1,632.2 Repayment of investment debt — — (5.1 ) (615.1 ) (620.2 ) Debt issue costs — (0.7 ) (0.9 ) (13.4 ) (15.0 ) Issuance of common stock 215.0 — — — 215.0 Repurchase and retirement of common stock (11.4 ) — — — (11.4 ) Dividends paid (37.7 ) — — — (37.7 ) Acquisition of KWE shares from noncontrolling interest holders — — — (59.5 ) (59.5 ) Contributions from noncontrolling interests, excluding KWE — — — 6.5 6.5 Distributions to noncontrolling interests — — — (205.8 ) (205.8 ) Net cash provided by (used in) financing activities 165.9 (125.7 ) 78.0 660.9 779.1 Effect of currency exchange rate changes on cash and cash equivalents — — — (34.2 ) (34.2 ) Net change in cash and cash equivalents — 2.3 6.5 (404.9 ) (396.1 ) Cash and cash equivalents, beginning of period — 38.2 21.0 878.5 937.7 Cash and cash equivalents, end of period $ — $ 40.5 $ 27.5 $ 473.6 $ 541.6

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions		Sep. 30, 2016USD ($)property	Dec. 31, 2015USD ($)
Noncontrolling Interest [Line Items]
Assets	[1]	$ 7,966.8	$ 7,595.6
Properties, Loans and Servicing Platform in Europe [Member] | Europe [Member]
Noncontrolling Interest [Line Items]
Assets		840.6
KWE [Member]
Noncontrolling Interest [Line Items]
Investments in subsidiaries		$ 486.7
Ownership percentage by parent		21.80%	18.20%
Properties, Loans and Servicing Platform in Europe [Member]
Noncontrolling Interest [Line Items]
Number of real estate investment properties in Europe | property		17
Properties, Loans and Servicing Platform in Europe [Member] | Europe [Member]
Noncontrolling Interest [Line Items]
Ownership percentage by parent		57.00%
Equity in consolidated investments		$ 417.7
[1]	The assets and liabilities as of September 30, 2016 include $4,913.0 million (including cash held by consolidated investments of $647.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,914.1 million) and $2,877.6 million (including investment debt of $2,566.7 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 Pronouncements (Details) $ in Millions	9 Months Ended	105 Months Ended
	Sep. 30, 2016USD ($)entity	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Negative fund performance that would cause reversal of performance fees		$ 24.6
Accrued performance fees	$ 10.6	10.6		$ 7.1
Noncontrolling interests	$ 1,464.8	$ 1,464.8	$ 1,731.3
Number of entities | entity	8
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				9 Months Ended
	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)loanasset	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Loan purchases and originations	$ 109.2				$ 109.2		$ 299.7
Loans acquired					16.1	$ 233.9
Repayment of secured debt		$ 4.9			407.1	620.2
Interest income on loans	3.4			$ 4.6	9.2	$ 13.4
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
Subsidiaries [Member]
Business Acquisition [Line Items]
Carrying value of foreclosure loan	46.3
Notes Receivable [Member]
Business Acquisition [Line Items]
Loan purchases and originations	$ 109.2				$ 109.2		$ 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	Sep. 30, 2016	Dec. 31, 2015
Real Estate [Abstract]
Land	$ 1,548.8	$ 1,471.5
Buildings	4,190.5	3,905.5
Building improvements	330.2	247.2
In-place lease values	415.9	421.8
Real estate, gross	6,485.4	6,046
Less accumulated depreciation and amortization	(356.3)	(248.5)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	$ 6,129.1	$ 5,797.5

Real Estate and In-Place Leas41

Real Estate and In-Place Lease Value - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Business Acquisition [Line Items]
Net gain on sale of properties	$ 79.6	$ 43
Guarantor obligations, maximum exposure, percentage of property level debt	2.00%
Performance Guarantee [Member] | Loans Payable [Member]
Business Acquisition [Line Items]
Guarantor obligations, maximum exposure	$ 65.4
Leases, Acquired-in-Place [Member]
Business Acquisition [Line Items]
Acquired in-place lease estimated useful life	10 years 3 months 18 days
Building and Building Improvements [Member] | Maximum [Member]
Business Acquisition [Line Items]
Buildings and building improvements estimated lives	40 years

Real Estate and In-Place Leas42

Real Estate and In-Place Lease Value - Schedule of Acquisitions (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)	Dec. 31, 2015
Business Acquisition [Line Items]
Land	$ 180.3		$ 180.3
Building	452.5		452.5
Acquired in place lease values	31.4		31.4
Investment debt	231.3		231.3
NCI	215.1		215.1
KWH Shareholders' Equity	217.8		217.8
Net gain on sale of properties			79.6	$ 43
Acquisition-related gains	$ 7.6	$ 29.9	16.2	$ 87.2
KWE [Member]
Business Acquisition [Line Items]
Net gain on sale of properties			$ 50.6
KWE [Member]
Business Acquisition [Line Items]
Ownership percentage by parent	21.80%		21.80%		18.20%
Retail, Multi-Family and Residential Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Land	$ 114.1		$ 114.1
Building	271.3		271.3
Acquired in place lease values	8.7		8.7
Investment debt	231.3		231.3
NCI	2		2
KWH Shareholders' Equity	160.8		160.8
Net gain on sale of properties			8.6
Acquisition-related gains			7.6
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	15.3		15.3
KWH Shareholders' Equity	$ 4		$ 4
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			3
Multifamily [Member] | Retail, Multi-Family and Residential Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Number of properties acquired | property			5
Retail [Member] | Retail, Multi-Family and Residential Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Number of properties acquired | property			2
Residential Property [Member] | Retail, Multi-Family and Residential Acquired in Western U.S. [Member]
Business Acquisition [Line Items]
Number of properties acquired | property			2
Office [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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Real Estate [Abstract]
Pro forma revenues	$ 176.5	$ 169.3	$ 542.1	$ 467.3
Pro forma income from unconsolidated subsidiaries	31.2	15.9	59.1	44.9
Pro forma net income (loss)	6.8	11.7	28.4	50.4
Pro forma net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (8.8)	$ 19.2	$ (17.3)	$ 55.5
Pro forma net (loss) income per share:
Basic (in dollars per share)	$ (0.08)	$ 0.18	$ (0.16)	$ 0.55
Diluted (in dollars per share)	$ (0.08)	$ 0.18	$ (0.16)	$ 0.53
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Net (loss) income	$ 13.1	$ 5.1	$ 31.3	$ 30.7
Nonrecurring Gains
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Net (loss) income	$ (7.6)		$ (16.2)

Real Estate and In-Place Leas44

Real Estate and In-Place Lease Value - Schedule of Gains on Real Estate (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)
Real Estate [Line Items]
Gain on sale of real estate	$ 79.6	$ 43
Gain on sale of properties, attributable to noncontrolling interest	52.3
Gain on sale of properties, attributable to parent	27.3
KW [Member]
Real Estate [Line Items]
Gain on sale of real estate	29
Gain on sale of properties, attributable to noncontrolling interest	11.9
Gain on sale of properties, attributable to parent	17.1
KWE [Member]
Real Estate [Line Items]
Gain on sale of real estate	50.6
Gain on sale of properties, attributable to noncontrolling interest	40.4
Gain on sale of properties, attributable to parent	$ 10.2
Commercial [Member] | KW [Member] | Japan [Member]
Real Estate [Line Items]
Number of commercial real estate properties sold | property	1
Commercial [Member] | KW [Member] | United Kingdom [Member]
Real Estate [Line Items]
Number of commercial real estate properties sold | property	1
Commercial [Member] | KW [Member] | Ireland [Member]
Real Estate [Line Items]
Number of commercial real estate properties sold | property	1
Commercial [Member] | KWE [Member]
Real Estate [Line Items]
Number of commercial real estate properties sold | property	30
Condominium Unit [Member] | KW [Member] | United States [Member]
Real Estate [Line Items]
Number of commercial real estate properties sold | property	1
Vacant Lot [Member] | KW [Member] | United States [Member]
Real Estate [Line Items]
Number of commercial real estate properties sold | property	1
Land Parcel [Member] | KW [Member] | United States [Member]
Real Estate [Line Items]
Number of commercial real estate properties sold | property	1

Unconsolidated Investments - N

Unconsolidated Investments - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2015USD ($)limited_partnership	Sep. 30, 2016USD ($)joint_venture	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments		$ 70.3	$ 155.2
Equity method investment distribution received		53.9
Payments to acquire new equity method investments		1
Contributions to existing joint ventures		69.3
Proceeds from equity method investments		$ 117.3
Number of joint ventures with unfulfilled capital commitments | joint_venture		4
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments		$ 35.9
Vintage Housing Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	$ 78.7
Number of syndicated limited partnerships | limited_partnership	30
Equity method investments		80.5		$ 84.3
Gain on fair value through equity income		20.5
Equity method investment distribution received		$ 4.7
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 - S

Unconsolidated Investments - Schedule of Joint Ventures (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 432.9	$ 444.9
Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	394.5	401.7
Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	7	5.8
United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	16.1	24.6
Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	15.3	12.8
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	154.9	150.6
Multifamily [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	147.9	144.8
Multifamily [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	7	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	66	74.7
Commercial [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	49.9	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	16.1	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	0	13.5
Loan [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	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	1.3
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	180.6	180.1
Residential [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	180.6	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	31.4	26
Other [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	16.1	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	$ 15.3	$ 12.8

Unconsolidated Investments - C

Unconsolidated Investments - Cash Distributions by Investment Type and Location (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Schedule of Equity Method Investments [Line Items]
Operating	$ 53.9
Investing	63.4	$ 92
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	44.6
Investing	43.9
Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	8.8
Investing	13.5
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	0.5
Investing	5.3
Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Operating	53.8
Investing	62.7
Western U.S. [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	44.5
Investing	43.9
Western U.S. [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	8.8
Investing	13.5
Western U.S. [Member] | Loan Pools [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
Western U.S. [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0.5
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	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	$ 227	$ 223.8
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	227	223.8
Marketable securities	5.4	5.3
Total	157.1	240.8
Recurring [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Currency derivative contracts	(75.3)	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	5.4	5.3
Total	5.4	5.3
Recurring [Member] | Level 1 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Currency derivative contracts	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
Total	(75.3)	11.7
Recurring [Member] | Level 2 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Currency derivative contracts	(75.3)	11.7
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	227	223.8
Marketable securities	0	0
Total	227	223.8
Recurring [Member] | Level 3 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Currency derivative contracts	$ 0	$ 0

Fair Value Measurements and t49

Fair Value Measurements and the Fair Value Option - Marketable Securities, Narrative (Details) $ / shares in Units, £ in Millions, shares in Millions, $ in Millions	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2016GBP (£)shares	Dec. 31, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in and advances to consolidated subsidiaries	$ 0		$ 0
KWE [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares in KWE (in shares) | shares	29.6	29.6
Share price | $ / shares	$ 13.02
Foreign Exchange Contract [Member] | KWE [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percentage of investments hedged	96.00%	96.00%
Notional amount | £		£ 295.2
Equity Securities [Member] | KWE [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in and advances to consolidated subsidiaries	$ 385
Investment cost basis	$ 486.7

Fair Value Measurements and t50

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments, Narrative (Details) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)investment	Dec. 31, 2015USD ($)
Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Funds	$ 41.2	$ 30.6
Unfunded capital commitments	$ 35.9
Number of unconsolidated investments with fair value option election | investment	10
Fair value option	$ 185.8	$ 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	$ 31.6

Fair Value Measurements and t51

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments (Details) - Equity Method Investments [Member] - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
FV Option	$ 185.8	$ 193.2
Funds	41.2	30.6
Total	$ 227	$ 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 236.6	$ 186.6	$ 223.8	$ 85.9
Unrealized and realized gains	10.1	11.1	36.2	29.3
Unrealized and realized losses	(0.6)	0	(0.1)	(0.1)
Contributions	10.2	16.5	30.3	107.7
Distributions	(29.2)	(8.1)	(64)	(16.4)
Other	(0.1)	0	0.8	(0.3)
Ending balance	$ 227	$ 206.1	$ 227	$ 206.1

Fair Value Measurements and t53

Fair Value Measurements and the Fair Value Option - Schedule of Significant Inputs (Details)	9 Months Ended
	Sep. 30, 2016
Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Entity credit risk percentage	1.34%
Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Entity credit risk percentage	4.60%
Office [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	4.75%
Discount Rates	7.25%
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	11.25%
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	9.00%
Discount Rates	12.75%
Multifamily [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	4.75%
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%
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, $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016GBP (£)	Sep. 30, 2016JPY (¥)	Sep. 30, 2016EUR (€)	Dec. 31, 2015USD ($)
Derivative [Line Items]
Hedge Asset	$ 8.5				$ 30.9
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 | £		£ 295.2
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	0.3
Hedge Liability	(2.7)
Change in Unrealized Gains (Losses)	(1.9)
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	8.2
Hedge Liability	0
Change in Unrealized Gains (Losses)	2.5
Realized Gains (Losses)	0
Cash Received (Paid)	(5.8)
Level 2 [Member] | Foreign Exchange Contract, Five [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	(1)
Change in Unrealized Gains (Losses)	(0.8)
Realized Gains (Losses)	0
Cash Received (Paid)	0
Level 2 [Member] | Derivatives Outstanding [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	8.5
Hedge Liability	(83.9)
Change in Unrealized Gains (Losses)	(149.1)
Realized Gains (Losses)	0
Cash Received (Paid)	(5.8)
Level 2 [Member] | Foreign Exchange Contract, Seven [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains (Losses)	19.7
Realized Gains (Losses)	7.1
Cash Received (Paid)	43.3
Level 2 [Member] | Derivative Settled [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains (Losses)	19
Realized Gains (Losses)	7.8
Cash Received (Paid)	43.3
Level 2 [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	8.5
Hedge Liability	(83.9)
Change in Unrealized Gains (Losses)	(130.1)
Realized Gains (Losses)	7.8
Cash Received (Paid)	37.5
Level 2 [Member] | KWE [Member] | Foreign Exchange Contract, Two [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	(80.2)
Change in Unrealized Gains (Losses)	(89.2)
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)	(59.7)
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)	(0.7)
Realized Gains (Losses)	0.7
Cash Received (Paid)	0
Noncontrolling Interest [Member] | Level 2 [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	62.8
Change in Unrealized Gains (Losses)	118.3
Realized Gains (Losses)	0
Cash Received (Paid)	0
Net of NCI [Member] | Level 2 [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	8.5
Hedge Liability	(21.1)
Change in Unrealized Gains (Losses)	(11.8)
Realized Gains (Losses)	7.8
Cash Received (Paid)	$ 37.5

Fair Value Measurements and t55

Fair Value Measurements and the Fair Value Option - Fair Value of Financial Instruments, Narrative (Details) - USD ($) $ in Billions	Sep. 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	$ 5	$ 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	$ 5.1	$ 4.3

Other Assets (Details)

Other Assets (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Other Assets [Abstract]
Other, net of accumulated amortization of $5.1 and $3.1 at September 30, 2016 and December 31, 2015, respectively	$ 56.5	$ 40.4
Deferred tax asset, net	32.8	22.2
Goodwill	23.9	23.9
Prepaid expenses	14.2	10.1
Hedge assets	8.5	30.9
Marketable securities	5.4	4.3
Deposits	2.2	4.2
Other Assets	256.3	267.2
Accumulated amortization, other	5.1	3.1
Investments in and advances to consolidated subsidiaries	$ 0	0
KWE [Member]
Other Assets [Abstract]
Shares in KWE (in shares)	29.6
Share price	$ 13.02
KWE [Member] | Equity Securities [Member]
Other Assets [Abstract]
Investments in and advances to consolidated subsidiaries	$ 385
Investment cost basis	486.7
Furniture and Fixtures [Member]
Other Assets [Abstract]
Office furniture and equipment net of accumulated depreciation of $22.5 and $14.0 at September 30, 2016 and December 31, 2015, respectively	25.9	27.9
Accumulated amortization, office furniture and equipment	22.5	14
Above Market Leases [Member]
Other Assets [Abstract]
Above-market leases, net of accumulated amortization of $27.5 and $19.6 at September 30, 2016 and December 31, 2015, respectively	86.9	103.3
Accumulated amortization, above-market leases	$ 27.5	$ 19.6

Investment Debt - Mortgage Loa

Investment Debt - Mortgage Loans (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
KWE [Member]
Debt Instrument [Line Items]
Ownership percentage by parent	21.80%	18.20%
KWE [Member]
Debt Instrument [Line Items]
Unamortized premium (discount)	$ (4.5)	$ (13.6)
Investment Debt [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	4,074.4	3,658.2
Unamortized loan fees	(26.8)	(30.7)
Total debt	4,047.6	3,627.5
Investment Debt [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	2,250.6	2,102.2
Unamortized loan fees	(15.3)	(19.4)
Total debt	2,235.3	2,082.8
Secured Investment Debt [Member]
Debt Instrument [Line Items]
Unamortized premium (discount)	1.8	(5.4)
Investment debt (excluding loan fees)	2,812.2	2,795.5
Secured Investment Debt [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	988.4	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)	1,075.2	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)	140.2	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)	0	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)	313.8	286.4
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Japan [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	0	2
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	360.1	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)	278.1	286.7
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Spain [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	94	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)	94	0
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	681.7	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)	612.8	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	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)	23.8	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)	3.5	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)	3.5	3.4
Secured Investment Debt [Member] | Mortgage Loans Secured by Hotel [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	80.9	78.2
Unsecured Debt [Member] | Mortgage Loans, Unsecured [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	1,262.2	862.7
Unsecured Debt [Member] | Mortgage Loans, Unsecured [Member] | United Kingdom [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	$ 1,262.2	$ 862.7

Investment Debt - Narrative (D

Investment Debt - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2014USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)loaninvestmentpropertyacquisition	Jun. 30, 2016USD ($)	Jun. 30, 2016EUR (€)	Sep. 30, 2015USD ($)	Sep. 30, 2016GBP (£)	Dec. 31, 2015USD ($)	Dec. 31, 2015GBP (£)	Jun. 30, 2015USD ($)	Jun. 30, 2015GBP (£)	Aug. 31, 2014GBP (£)
Debt Instrument [Line Items]
Loss in AOCI due to foreign currency rate fluctuations		$ 1.1	$ 51.8	$ 61.7			$ 88
Number of loans consolidated | loan				1
Number of acquisitions partially financed with mortgages | acquisition				6
Number of investments partially financed with mortgages | investment				2
Number of properties that acquired supplemental financing | property				4
Number of existing mortgages refinanced | investment				2
Number of Properties Repaid Mortgages | property				2
Euro Member Countries, Euro [Member]
Debt Instrument [Line Items]
Loss in AOCI due to foreign currency rate fluctuations				$ 59.7
Secured Investment Debt [Member]
Debt Instrument [Line Items]
Weighted-average interest rate of investment debt		3.22%		3.22%				3.22%	3.19%	3.19%
Percent of property level debt with fixed rate		72.00%		72.00%				72.00%	67.00%	67.00%
Percent of property level debt with floating rate and interest caps		15.00%		15.00%				15.00%	17.00%	17.00%
Percent of property level debt with floating rate, without interest caps		13.00%		13.00%				13.00%	16.00%	16.00%
Secured Investment Debt [Member] | KWE [Member] | Revolving Credit Facility [Member] | KWE Facility [Member]
Debt Instrument [Line Items]
Debt instrument term	3 years
Maximum borrowing capacity	$ 291.9												£ 225,000,000
Remaining borrowing capacity		$ 291.9		$ 291.9				£ 225,000,000
Secured Investment Debt [Member] | KWE [Member] | United Kingdom [Member] | Euro Medium Term Note [Member]
Debt Instrument [Line Items]
Debt face value									$ 2,600	£ 2,000,000,000
Long-term debt		613.8		$ 613.8
Proceeds from issuance of debt					$ 617.9	€ 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		$ 259.4		$ 259.4				£ 200,000,000			$ 389.2	£ 300,000,000
Interest Rate											3.95%	3.95%
Effective interest rate		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%
Maximum ratio of consolidated secured indebtedness to total assets		50.00%		50.00%				50.00%
Interest coverage ratio		1.50		1.50				1.50
Maximum ratio of unencumbered assets to unsecured indebtedness		125.00%		125.00%				125.00%

Investment Debt - Schedule of

Investment Debt - Schedule of Maturities (Details) - Investment Debt [Member] - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
2,016	$ 4.3
2,017	201
2,018	202.5
2,019	615.4
2,020	241.2
Thereafter	2,808.2
Long-term debt, gross	4,072.6
Debt premium	1.8
Unamortized loan fees	(26.8)	$ (30.7)
Total debt	$ 4,047.6	$ 3,627.5

Senior Notes - Schedule of Sen

Senior Notes - Schedule of Senior Notes (Details) - Senior Notes [Member] - USD ($)	Sep. 30, 2016	Aug. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Face Value	$ 955,000,000		$ 705,000,000
Unamortized Net Premium/(Discount)	(2,200,000)		(2,400,000)
Carrying Value	952,800,000		702,600,000
Unamortized loan fees	(16,300,000)		(13,800,000)
Total debt	$ 936,500,000		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%	5.875%
Face Value	$ 900,000,000		650,000,000
Unamortized Net Premium/(Discount)	(2,200,000)		(2,400,000)
Carrying Value	$ 897,800,000		$ 647,600,000

Senior Notes - Narrative (Deta

Senior Notes - Narrative (Details) - Senior Notes [Member]	Sep. 30, 2016USD ($)	Aug. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Debt face value	$ 955,000,000		$ 705,000,000
Balance sheet leverage ratio	1.50
Maximum [Member]
Debt Instrument [Line Items]
Maximum balance sheet leverage ratio	0.90
5.875% Senior Notes Due April 2024 Issued August 2016 [Member]
Debt Instrument [Line Items]
Debt face value		$ 250,000,000
5.875% Senior Notes Dues April 2024 [Member]
Debt Instrument [Line Items]
Debt face value	$ 900,000,000		$ 650,000,000
Stated interest rate	5.875%	5.875%
Public offering price, percentage of principal amount		100.00%
5.875% Senior Notes Due April 2024 Issued Under Indenture [Member]
Debt Instrument [Line Items]
Debt face value	$ 650,000,000

Borrowings Under Lines of Cre62

Borrowings Under Lines of Credit (Details) - USD ($)	Dec. 10, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Line of Credit Facility [Line Items]
Borrowings under line of credit		$ 125,000,000	$ 75,000,000
Repayments of lines of credit		$ 125,000,000	$ 200,000,000
Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Fixed charge coverage ratio		3
Covenant, tangible net worth		$ 1,266,700,000
Secured recourse leverage ratio		1.50%
Liquidity covenant		$ 738,300,000
Adjusted secured leverage ratio		41.80%
Consolidated leverage ratio		59.70%
Recourse leverage ratio		0.81
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		$ 125,000,000
Repayments of lines of credit		125,000,000
Maximum amount drawn on the unsecured credit facility at any one point		125,000,000
Outstanding unsecured facility line of credit		0		$ 0
Remaining borrowing capacity		$ 475,000,000		$ 475,000,000

Equity - Common Stock (Details

Equity - Common Stock (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Feb. 25, 2016
Equity [Abstract]
Authorized amount of stock to repurchase		$ 100,000,000
Equity, Class of Treasury Stock [Line Items]
Stock repurchased during period, value	$ 28,700,000
Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Shares retired due to common stock repurchase program (in shares)	1,453,837

Equity - Dividend Distribution

Equity - Dividend Distributions (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Declared
Preferred Stock, Declared	$ 1.6
Common stock, Declared	48.1	$ 39.5
Total, Declared	49.7	42.6
Paid
Common Stock, Paid	45.9	34.6
Total, Paid	47.5	37.7
Preferred Stock [Member]
Declared
Preferred Stock, Declared	1.6	3.1
Paid
Preferred Stock, Paid	1.6	3.1
Preferred Stock [Member] | Series A Preferred Stock [Member]
Declared
Preferred Stock, Declared	0	1.5
Paid
Preferred Stock, Paid	0	1.5
Preferred Stock [Member] | Series B Preferred Stock [Member]
Declared
Preferred Stock, Declared	1.6	1.6
Paid
Preferred Stock, Paid	1.6	$ 1.6
Series B preferred stock outstanding (in dollars per share)	$ 32.6
Preferred stock conversion price (in dollars per share)	$ 9.79		$ 9.98

Equity - Share-Based Compensat

Equity - Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested percentage of shares granted	60.00%		60.00%
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 15.6	$ 5.5	$ 47.8	$ 19.6
Shares paid for tax withholding for share based compensation	0	2,026	693,942	434,287
Payments related to tax withholding for share-based compensation	$ 0	$ 0.2	$ 14.6	$ 11.5

Equity - Accumulated Other Com

Equity - Accumulated Other Comprehensive Income (Details) $ in Millions	9 Months Ended
	Sep. 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	(197)
Noncontrolling interest	169.1
Amounts reclassified out of AOCI during the period, gross	5.7
Amounts reclassified out of AOCI during the period, tax	(2.3)
Taxes on unrealized gains (losses), arising during the period	10.5
Balance end of period	2,528
Total Accumulated Other Comprehensive Income [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(47.7)
Balance end of period	(61.7)
Foreign Currency Translation [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(69.9)
Unrealized (loss) gains, arising during the period	(67.9)
Noncontrolling interest	50.8
Amounts reclassified out of AOCI during the period, gross	6.4
Amounts reclassified out of AOCI during the period, tax	(2.6)
Taxes on unrealized gains (losses), arising during the period	6.2
Balance end of period	(77)
Currency Derivative Contracts [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	22.4
Unrealized (loss) gains, arising during the period	(129.4)
Noncontrolling interest	118.3
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	4.4
Balance end of period	15.3
Marketable Securities [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(0.2)
Unrealized (loss) gains, arising during the period	0.3
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)
Balance end of period	$ 0

Equity - Noncontrolling Intere

Equity - Noncontrolling Interests (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,464.8	$ 1,731.3
KWE [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,300
Ownership percentage by parent	21.80%	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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (2.5)	$ 14.9	$ (11.6)	$ 42.6
Dividends allocated to participating securities	(0.4)	(0.6)	(1.3)	(1.9)
Net loss (income) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	(2.9)	14.3	(12.9)	40.7
Dividends declared on common shares	(15.6)	(13)	(46.7)	(37.8)
Undistributed (losses) earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	$ (18.5)	$ 1.3	$ (59.6)	$ 2.9
Distributed earnings per share (in dollars per share)	$ 0.14	$ 0.12	$ 0.42	$ 0.36
Undistributed (losses) earnings per share (in dollars per share)	(0.17)	0.01	(0.54)	0.04
(Loss) income per basic (in dollars per share)	(0.03)	0.13	(0.12)	0.40
(Loss) income per diluted (in dollars per share)	$ (0.03)	$ 0.13	$ (0.12)	$ 0.40
Weighted average shares outstanding for basic (in shares)	108,634,228	107,433,124	108,966,540	101,361,606
Weighted average shares outstanding for diluted (in shares)	108,634,228	107,433,124	108,966,540	105,517,172
Dividends declared per common share (in dollars per share)	$ 0.14	$ 0.12	$ 0.42	$ 0.36
Potentially dilutive securities (in shares)	3,782,564	3,538,420	3,493,709	3,163,589

Segment Information (Details)

Segment Information (Details) ft² in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2016USD ($)ft²office	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)ft²line_of_businesssegmentoffice	Sep. 30, 2015USD ($)	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		$ 122.9	$ 106.6	$ 363.1	$ 295.3
Hotel		31.4	31.3	87.3	78
Sale of real estate		2.5	1.6	16.7	3.7
Investment management, property services and research fees		14.1	15.1	46.7	47
Property service and research fees		5.4	8	22.9	26.7
Loan purchases, loan originations and other		3.4	4.6	9.2	13.4
Total revenue		174.3	159.2	523	437.4
Operating expenses		(116.1)	(99.6)	(350.3)	(288.3)
Depreciation and amortization		(50)	(44.9)	(147.3)	(119.5)
Total operating expenses		(166.1)	(144.5)	(497.6)	(407.8)
Income from unconsolidated investments		31.7	15.9	59.3	44.1
Operating income		39.9	30.6	84.7	73.7
Gain on sale of real estate		21.5	4.6	76	44.7
Acquisition-related gains		7.6	29.9	16.2	87.2
Acquisition-related expenses		(1)	(8.2)	(9.4)	(28.3)
Interest expense-investment		(36.8)	(31.3)	(102.9)	(77.9)
Interest expense-corporate		(14.5)	(11.7)	(38.8)	(35.5)
Other		1.9	(4.3)	7.6	(0.7)
Income before provision for income taxes		18.6	9.6	33.4	63.2
(Provision for) benefit from income taxes		(5.5)	(4.5)	(2.1)	(32.5)
Net income		13.1	5.1	31.3	30.7
Net income attributable to the noncontrolling interests		(15.1)	10.3	(41.3)	15
Preferred dividends and accretion of preferred stock issuance costs		(0.5)	(0.5)	(1.6)	(3.1)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(2.5)	14.9	(11.6)	42.6
Segment Reporting Information, Assets [Abstract]
Total assets	[1]	$ 7,966.8		$ 7,966.8		$ 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		59		59
Number of offices | office		25		25
Segment Reporting Information, Profit (Loss) [Abstract]
Property service and research fees		$ 5.4	8	$ 22.9	26.7
Operating Segments [Member] | KW Investments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Rental		122.9	106.6	363.1	295.3
Hotel		31.4	31.3	87.3	78
Sale of real estate		2.5	1.6	16.7	3.7
Loan purchases, loan originations and other		3.4	4.6	9.2	13.4
Total revenue		160.2	144.1	476.3	390.4
Operating expenses		(80.4)	(70.9)	(241.7)	(204.4)
Depreciation and amortization		(50)	(44.9)	(147.3)	(119.5)
Income from unconsolidated investments		31.3	15	56.6	40.6
Operating income		61.1	43.3	143.9	107.1
Gain on sale of real estate		21.5	4.6	76	44.7
Acquisition-related gains		7.6	29.9	16.2	87.2
Acquisition-related expenses		(1)	(8.2)	(9.4)	(28.3)
Interest expense-investment		(36.8)	(31.3)	(102.9)	(77.9)
Other		1.9	(4.3)	7.6	(0.7)
Income before provision for income taxes		54.3	34	131.4	132.1
(Provision for) benefit from income taxes		1.6	0	(2.6)	0
Net income		55.9	34	128.8	132.1
Net income attributable to the noncontrolling interests		(15.1)	10.4	(41.3)	14.6
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		40.8	44.4	87.5	146.7
Segment Reporting Information, Assets [Abstract]
Total assets		7,667.4		7,667.4		7,418.6
Operating Segments [Member] | IMRES [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Investment management, property services and research fees		14.1	15.1	46.7	47
Total revenue		14.1	15.1	46.7	47
Operating expenses		(14.2)	(16.1)	(43.6)	(44.2)
Income from unconsolidated investments		0.4	0.9	2.7	3.5
Operating income		0.3	(0.1)	5.8	6.3
Net income attributable to the noncontrolling interests		0	0	0	0.4
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		0.3	(0.1)	5.8	6.7
Segment Reporting Information, Assets [Abstract]
Total assets		70.3		70.3		58.1
Corporate, Non-Segment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Operating expenses		(21.5)	(12.6)	(65)	(39.7)
Operating income		(21.5)	(12.6)	(65)	(39.7)
Interest expense-corporate		(14.5)	(11.7)	(38.8)	(35.5)
Income before provision for income taxes		(36)	(24.3)	(103.8)	(75.2)
(Provision for) benefit from income taxes		(7.1)	(4.5)	0.5	(32.5)
Net income		(43.1)	(28.8)	(103.3)	(107.7)
Preferred dividends and accretion of preferred stock issuance costs		(0.5)	(0.5)	(1.6)	(3.1)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(43.6)	$ (29.3)	(104.9)	$ (110.8)
Segment Reporting Information, Assets [Abstract]
Total assets		$ 229.1		$ 229.1		$ 118.9
[1]	The assets and liabilities as of September 30, 2016 include $4,913.0 million (including cash held by consolidated investments of $647.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,914.1 million) and $2,877.6 million (including investment debt of $2,566.7 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Taxes [Line Items]
Income before income taxes	$ 18.6	$ 9.6	$ 33.4	$ 63.2
Provision for income taxes	5.5	$ 4.5	2.1	$ 32.5
US domestic taxes would be incurred if repatriated to the United States	1.3		1.3
Ireland and Jersey [Member]
Income Taxes [Line Items]
Undistributed earnings of foreign subsidiaries	$ 5.7		$ 5.7
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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 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		Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents		$ 282.7	$ 182.6
Cash held by consolidated investments		692.5	549
Accounts receivable		64.1	54.7
Loan purchases and originations		109.2	299.7
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		6,129.1	5,797.5
Unconsolidated investments		432.9	444.9
Investments in and advances to consolidated subsidiaries		0	0
Other assets		256.3	267.2
Total assets	[1]	7,966.8	7,595.6
Liabilities
Accounts payable		14.6	22.2
Accrued expenses and other liabilities		440.1	392
Total liabilities	[1]	5,438.8	4,730.5
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,063.2	1,133.8
Noncontrolling interests		1,464.8	1,731.3
Total equity		2,528	2,865.1
Total liabilities and equity		7,966.8	7,595.6
Investment Debt [Member]
Liabilities
Long-term debt		4,047.6	3,627.5
Senior Notes [Member]
Liabilities
Long-term debt		936.5	688.8
Line of Credit [Member]
Liabilities
Long-term debt		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		1,079.1	1,148
Other assets		0	0
Total assets		1,079.1	1,148
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		15.9	14
Total liabilities		15.9	14
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,063.2	1,134
Noncontrolling interests		0	0
Total equity		1,063.2	1,134
Total liabilities and equity		1,079.1	1,148
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Assets
Cash and cash equivalents		124.2	80.2
Cash held by consolidated investments		0	0
Accounts receivable		0	0
Loan purchases and originations		0.3	79.4
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		0	0
Unconsolidated investments		17.6	14.6
Investments in and advances to consolidated subsidiaries		2,010.8	1,898.9
Other assets		3.2	3.9
Total assets		2,156.1	2,077
Liabilities
Accounts payable		0.1	0.5
Accrued expenses and other liabilities		140.4	239.7
Total liabilities		1,077	929
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,079.1	1,148
Noncontrolling interests		0	0
Total equity		1,079.1	1,148
Total liabilities and equity		2,156.1	2,077
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents		36.2	37
Cash held by consolidated investments		0	0
Accounts receivable		35.9	30.2
Loan purchases and originations		12	12.2
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		1,483.7	1,017.5
Unconsolidated investments		283.8	292.6
Investments in and advances to consolidated subsidiaries		1,256.6	1,185.4
Other assets		37.3	30.2
Total assets		3,145.5	2,605.1
Liabilities
Accounts payable		2.1	2.5
Accrued expenses and other liabilities		274.6	118.8
Total liabilities		1,134.7	706.2
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,010.8	1,898.9
Noncontrolling interests		0	0
Total equity		2,010.8	1,898.9
Total liabilities and equity		3,145.5	2,605.1
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents		122.3	65.4
Cash held by consolidated investments		692.5	549
Accounts receivable		28.2	24.5
Loan purchases and originations		96.9	245.9
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		4,645.4	4,780
Unconsolidated investments		131.5	137.7
Investments in and advances to consolidated subsidiaries		0	0.2
Other assets		215.8	233.1
Total assets		5,932.6	6,035.8
Liabilities
Accounts payable		12.4	19.2
Accrued expenses and other liabilities		9.2	19.5
Total liabilities		3,211.2	3,119.1
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,256.6	1,185.4
Noncontrolling interests		1,464.8	1,731.3
Total equity		2,721.4	2,916.7
Total liabilities and equity		5,932.6	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		858	584.9
Reportable Legal Entities [Member] | Investment Debt [Member] | Non-guarantor Subsidiaries [Member]
Liabilities
Long-term debt		3,189.6	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		936.5	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		0
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		(4,346.5)	(4,232.5)
Other assets		0	0
Total assets		(4,346.5)	(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		(4,346.5)	(4,232.5)
Noncontrolling interests		0	0
Total equity		(4,346.5)	(4,232.5)
Total liabilities and equity		(4,346.5)	(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 September 30, 2016 include $4,913.0 million (including cash held by consolidated investments of $647.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3,914.1 million) and $2,877.6 million (including investment debt of $2,566.7 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue
Investment management, property services and research fees	$ 14.1	$ 15.1	$ 46.7	$ 47
Rental	122.9	106.6	363.1	295.3
Hotel	31.4	31.3	87.3	78
Sale of real estate	2.5	1.6	16.7	3.7
Loan purchases, loan originations and other	3.4	4.6	9.2	13.4
Total revenue	174.3	159.2	523	437.4
Operating expenses
Commission and marketing	2.5	1.2	6	4.4
Rental operating	34.6	29.4	98.4	78.5
Hotel operating	23.8	22.7	71.9	66.1
Cost of real estate sold	2.5	1.1	13.1	2.6
Compensation and related	42.2	35.2	128.4	105.4
General and administrative	10.5	10	32.5	31.3
Depreciation and amortization	50	44.9	147.3	119.5
Total operating expenses	166.1	144.5	497.6	407.8
Income from unconsolidated investments	31.7	15.9	59.3	44.1
Income from consolidated subsidiaries	0	0	0	0
Operating income	39.9	30.6	84.7	73.7
Non-operating income (expense)
Acquisition-related gains	7.6	29.9	16.2	87.2
Acquisition-related expenses	(1)	(8.2)	(9.4)	(28.3)
Interest expense-investment	(36.8)	(31.3)	(102.9)	(77.9)
Interest expense-corporate	(14.5)	(11.7)	(38.8)	(35.5)
Gain on sale of real estate	21.5	4.6	76	44.7
Other income / (expense)	1.9	(4.3)	7.6	(0.7)
Income before provision for income taxes	18.6	9.6	33.4	63.2
(Provision for) benefit from income taxes	(5.5)	(4.5)	(2.1)	(32.5)
Net income	13.1	5.1	31.3	30.7
Net (income) loss attributable to the noncontrolling interests	(15.1)	10.3	(41.3)	15
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	(2)	15.4	(10)	45.7
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(0.5)	(1.6)	(3.1)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	(2.5)	14.9	(11.6)	42.6
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	15.5	5.5	47.8	19.6
General and administrative	0	0	0	0
Depreciation and amortization	0	0	0	0
Total operating expenses	15.5	5.5	47.8	19.6
Income from unconsolidated investments	0	0	0	0
Income from consolidated subsidiaries	28.6	10.6	79.1	50.3
Operating income	13.1	5.1	31.3	30.7
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
Income before provision for income taxes	13.1	5.1	31.3	30.7
(Provision for) benefit from income taxes	0	0	0	0
Net income	13.1	5.1	31.3	30.7
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	13.1	5.1	31.3	30.7
Preferred dividends and accretion of preferred stock issuance costs	(0.5)	(0.5)	(1.6)	(3.1)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	12.6	4.6	29.7	27.6
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	0.1	0	0.1	0
Total revenue	0.1	0	0.1	0
Operating expenses
Commission and marketing	0	0	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	13.9	17	39.5	46.9
General and administrative	3.5	3.6	10.5	11
Depreciation and amortization	0.4	0.1	1	0.5
Total operating expenses	17.8	20.7	51	59.4
Income from unconsolidated investments	0.7	(1.2)	3.8	0
Income from consolidated subsidiaries	64.5	44	158.3	148.7
Operating income	47.5	22.1	111.2	89.3
Non-operating income (expense)
Acquisition-related gains	0	0	0	0
Acquisition-related expenses	0	(0.1)	0	(0.4)
Interest expense-investment	0	0	0	0
Interest expense-corporate	(14.5)	(11.7)	(38.8)	(35.5)
Gain on sale of real estate	0	0	0	0
Other income / (expense)	0.3	0.4	7.6	0.3
Income before provision for income taxes	33.3	10.7	80	53.7
(Provision for) benefit from income taxes	(4.7)	(0.1)	(0.9)	(3.4)
Net income	28.6	10.6	79.1	50.3
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	28.6	10.6	79.1	50.3
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	28.6	10.6	79.1	50.3
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenue
Investment management, property services and research fees	12.1	14.7	43.2	44.9
Rental	30.7	19.2	81.9	44
Hotel	0	0	0	0
Sale of real estate	2.5	0.1	12.2	0.1
Loan purchases, loan originations and other	0.2	0.2	0.8	1
Total revenue	45.5	34.2	138.1	90
Operating expenses
Commission and marketing	2.4	1.1	5.6	2.7
Rental operating	11.9	8	34	16.2
Hotel operating	0	0	0	0
Cost of real estate sold	2.4	0	9.6	0
Compensation and related	10.9	11	35.4	32.4
General and administrative	4.4	4.9	12.1	12.2
Depreciation and amortization	10.5	5.7	28	14.2
Total operating expenses	42.5	30.7	124.7	77.7
Income from unconsolidated investments	22.8	20	31.3	37.6
Income from consolidated subsidiaries	37.1	(35)	125.4	49
Operating income	62.9	(11.5)	170.1	98.9
Non-operating income (expense)
Acquisition-related gains	7.6	61.6	7.6	61.6
Acquisition-related expenses	(0.9)	(0.4)	(2.1)	(0.6)
Interest expense-investment	(6.8)	(4.6)	(17.8)	(10.1)
Interest expense-corporate	0	0	0	0
Gain on sale of real estate	0.4	0	0.8	0
Other income / (expense)	0	0.1	(2.6)	0.1
Income before provision for income taxes	63.2	45.2	156	149.9
(Provision for) benefit from income taxes	1.3	(1.2)	2.3	(1.2)
Net income	64.5	44	158.3	148.7
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	64.5	44	158.3	148.7
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	64.5	44	158.3	148.7
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member]
Revenue
Investment management, property services and research fees	2	0.4	3.5	2.1
Rental	92.2	87.4	281.2	251.3
Hotel	31.4	31.3	87.3	78
Sale of real estate	0	1.5	4.5	3.6
Loan purchases, loan originations and other	3.1	4.4	8.3	12.4
Total revenue	128.7	125	384.8	347.4
Operating expenses
Commission and marketing	0.1	0.1	0.4	0.7
Rental operating	22.7	21.4	64.4	62.3
Hotel operating	23.8	22.7	71.9	66.1
Cost of real estate sold	0.1	1.1	3.5	2.6
Compensation and related	1.9	1.7	5.7	6.5
General and administrative	2.6	1.5	9.9	8.1
Depreciation and amortization	39.1	39.1	118.3	104.8
Total operating expenses	90.3	87.6	274.1	251.1
Income from unconsolidated investments	8.2	(2.9)	24.2	6.5
Income from consolidated subsidiaries	0	0	0	0
Operating income	46.6	34.5	134.9	102.8
Non-operating income (expense)
Acquisition-related gains	0	(31.7)	8.6	25.6
Acquisition-related expenses	(0.1)	(7.7)	(7.3)	(27.3)
Interest expense-investment	(30)	(26.7)	(85.1)	(67.8)
Interest expense-corporate	0	0	0	0
Gain on sale of real estate	21.1	4.6	75.2	44.7
Other income / (expense)	1.6	(4.8)	2.6	(1.1)
Income before provision for income taxes	39.2	(31.8)	128.9	76.9
(Provision for) benefit from income taxes	(2.1)	(3.2)	(3.5)	(27.9)
Net income	37.1	(35)	125.4	49
Net (income) loss attributable to the noncontrolling interests	(15.1)	10.3	(41.3)	15
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	22	(24.7)	84.1	64
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	22	(24.7)	84.1	64
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	(130.2)	(19.6)	(362.8)	(248)
Operating income	(130.2)	(19.6)	(362.8)	(248)
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
Income before provision for income taxes	(130.2)	(19.6)	(362.8)	(248)
(Provision for) benefit from income taxes	0	0	0	0
Net income	(130.2)	(19.6)	(362.8)	(248)
Net (income) loss attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	(130.2)	(19.6)	(362.8)	(248)
Preferred dividends and accretion of preferred stock issuance costs	0	0	0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (130.2)	$ (19.6)	$ (362.8)	$ (248)

Guarantor and Non-Guarantor F74

Guarantor and Non-Guarantor Financial Statements - Consolidated Statement of Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		$ 13.1	$ 5.1	$ 31.3	$ 30.7
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(1.1)	(51.8)	(61.7)	(88)
Unrealized gain on marketable securities		0.1	0	0.2	0.1
Amounts reclassified out of AOCI during the period		0.7	(0.3)	3.4	9.7
Unrealized currency derivative contracts gain (loss)		(35.6)	(8.3)	(125)	6.7
Total other comprehensive loss for the period		(35.9)	(60.4)	(183.1)	(71.5)
Comprehensive loss		(22.8)	(55.3)	(151.8)	(40.8)
Comprehensive loss (income) attributable to noncontrolling interests	[1]	15.7	67.9	127.8	78.3
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(7.1)	12.6	(24)	37.5
Reportable Legal Entities [Member] | Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		13.1	5.1	31.3	30.7
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(1.1)	(51.8)	(61.7)	(88)
Unrealized gain on marketable securities		0.1		0.2	0.1
Amounts reclassified out of AOCI during the period		0.7	(0.3)	3.4	9.7
Unrealized currency derivative contracts gain (loss)		(35.6)	(8.3)	(125)	6.7
Total other comprehensive loss for the period		(35.9)	(60.4)	(183.1)	(71.5)
Comprehensive loss		(22.8)	(55.3)	(151.8)	(40.8)
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(22.8)	(55.3)	(151.8)	(40.8)
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		28.6	10.6	79.1	50.3
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(1.1)	(51.8)	(61.7)	(88)
Unrealized gain on marketable securities		0.1		0.2	0.1
Amounts reclassified out of AOCI during the period		0.7	(0.3)	3.4	9.7
Unrealized currency derivative contracts gain (loss)		(35.6)	(8.3)	(125)	6.7
Total other comprehensive loss for the period		(35.9)	(60.4)	(183.1)	(71.5)
Comprehensive loss		(7.3)	(49.8)	(104)	(21.2)
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(7.3)	(49.8)	(104)	(21.2)
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		64.5	44	158.3	148.7
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(2.2)	(1)	(8.7)	(9.4)
Unrealized gain on marketable securities		0		0	0
Amounts reclassified out of AOCI during the period		0	(0.3)	0	(0.6)
Unrealized currency derivative contracts gain (loss)		1.4	5.8	11.8	8.3
Total other comprehensive loss for the period		(0.8)	4.5	3.1	(1.7)
Comprehensive loss		63.7	48.5	161.4	147
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		63.7	48.5	161.4	147
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		37.1	(35)	125.4	49
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		(0.1)	(138.3)	(64.4)	(23.8)
Unrealized gain on marketable securities		0		0	0
Amounts reclassified out of AOCI during the period		0.7	0	3.4	10.3
Unrealized currency derivative contracts gain (loss)		(37)	(14.1)	(136.8)	(1.6)
Total other comprehensive loss for the period		(36.4)	(152.4)	(197.8)	(15.1)
Comprehensive loss		0.7	(187.4)	(72.4)	33.9
Comprehensive loss (income) attributable to noncontrolling interests		15.7	67.9	127.8	78.3
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		16.4	(119.5)	55.4	112.2
Elimination [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income		(130.2)	(19.6)	(362.8)	(248)
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain		3.4	191.1	134.8	121.2
Unrealized gain on marketable securities		(0.1)		(0.2)	(0.1)
Amounts reclassified out of AOCI during the period		(1.4)	0.6	(6.8)	(19.4)
Unrealized currency derivative contracts gain (loss)		71.2	16.6	250	(13.4)
Total other comprehensive loss for the period		73.1	208.3	377.8	88.3
Comprehensive loss		(57.1)	188.7	15	(159.7)
Comprehensive loss (income) attributable to noncontrolling interests		0	0	0	0
Comprehensive (loss) gain attributable to Kennedy-Wilson Holdings, Inc. common shareholders		$ (57.1)	$ 188.7	$ 15	$ (159.7)
[1]	Comprehensive gain (loss) 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		3 Months Ended	9 Months Ended
		Jun. 30, 2016	Sep. 30, 2016	Sep. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities			$ 78.4	$ 114.2
Cash flows from investing activities:
Additions to loans			(16.1)	(233.9)
Collections of loans			145.4	15.3
Net proceeds from sale of real estate			266	523.4
Purchases of and additions to real estate			(748.4)	(1,534)
Additions to nonrefundable escrow deposits				0
Proceeds from settlement of foreign derivative contracts			43.3	36.2
Purchases of foreign derivative contracts			(5.8)	(5.2)
Investment in marketable securities			(0.9)	0
Proceeds from sale of marketable securities			0	6.2
Distributions from unconsolidated investments			63.4	92
Contributions to unconsolidated investments			(70.3)	(155.2)
(Investments in) distributions from consolidated subsidiaries, net			0	0
Net cash used in investing activities			(323.4)	(1,255.2)
Cash flows from financing activities:
Borrowings under senior notes payable			250	0
Borrowings under line of credit			125	75
Repayment of line of credit			(125)	(200)
Borrowings under investment debt			933.4	1,632.2
Repayment of investment debt		$ (4.9)	(407.1)	(620.2)
Debt issue costs			(9.4)	(15)
Issuance of common stock			0	215
Repurchase and retirement of common stock			(43.4)	(11.4)
Dividends paid			(47.5)	(37.7)
Acquisition of KWE shares from noncontrolling interest holders			(70.6)	(59.5)
Contributions from noncontrolling interests, excluding KWE			25.3	6.5
Distributions to noncontrolling interests			(94.8)	(205.8)
Net cash provided by financing activities			535.9	779.1
Effect of currency exchange rate changes on cash and cash equivalents			(47.3)	(34.2)
Net change in cash and cash equivalents	[1]		243.6	(396.1)
Cash and cash equivalents, beginning of period			731.6	937.7
Cash and cash equivalents, end of period			975.2	541.6
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities			(0.2)	4.8
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
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			91.1	(170.7)
Net cash used in investing activities			91.1	(170.7)
Cash flows from financing activities:
Borrowings under senior notes payable			0
Borrowings under line of credit			0	0
Repayment of line of credit			0	0
Borrowings under investment debt			0	0
Repayment of investment debt				0
Debt issue costs			0	0
Issuance of common stock				215
Repurchase and retirement of common stock			(43.4)	(11.4)
Dividends paid			(47.5)	(37.7)
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			(90.9)	165.9
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			(224.2)	41.2
Cash flows from investing activities:
Additions to loans			(11.6)	(39)
Collections of loans			6.6	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
Proceeds from settlement of foreign derivative contracts			43.3	17.9
Purchases of foreign derivative contracts			(5.8)	(3.7)
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			(9.9)	113.1
Net cash used in investing activities			21.6	86.8
Cash flows from financing activities:
Borrowings under senior notes payable			250
Borrowings under line of credit			125	75
Repayment of line of credit			(125)	(200)
Borrowings under investment debt			0	0
Repayment of investment debt				0
Debt issue costs			(3.5)	(0.7)
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			246.5	(125.7)
Effect of currency exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			43.9	2.3
Cash and cash equivalents, beginning of period			80.2	38.2
Cash and cash equivalents, end of period			124.1	40.5
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities			213.2	103.9
Cash flows from investing activities:
Additions to loans			(4.5)	0
Collections of loans			5	8.7
Net proceeds from sale of real estate			11.5	0
Purchases of and additions to real estate			(297.1)	(186.3)
Additions to nonrefundable escrow deposits				0
Proceeds from settlement of foreign derivative contracts			0	0
Purchases of foreign derivative contracts			0	0
Investment in marketable securities			(0.9)
Proceeds from sale of marketable securities				6.2
Distributions from unconsolidated investments			28.7	44.5
Contributions to unconsolidated investments			(52.5)	(67.4)
(Investments in) distributions from consolidated subsidiaries, net			(115.1)	18.9
Net cash used in investing activities			(424.9)	(175.4)
Cash flows from financing activities:
Borrowings under senior notes payable			0
Borrowings under line of credit			0	0
Repayment of line of credit			0	0
Borrowings under investment debt			236.7	84
Repayment of investment debt			(24.6)	(5.1)
Debt issue costs			(1.2)	(0.9)
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			210.9	78
Effect of currency exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			(0.8)	6.5
Cash and cash equivalents, beginning of period			37	21
Cash and cash equivalents, end of period			36.2	27.5
Non-guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities			89.6	(35.7)
Cash flows from investing activities:
Additions to loans			0	(194.9)
Collections of loans			133.8	6.6
Net proceeds from sale of real estate			254.5	523.4
Purchases of and additions to real estate			(451.3)	(1,347.7)
Additions to nonrefundable escrow deposits				0
Proceeds from settlement of foreign derivative contracts			0	18.3
Purchases of foreign derivative contracts			0	(1.5)
Investment in marketable securities			0
Proceeds from sale of marketable securities				0
Distributions from unconsolidated investments			34.7	47.5
Contributions to unconsolidated investments			(16.8)	(86.3)
(Investments in) distributions from consolidated subsidiaries, net			33.9	38.7
Net cash used in investing activities			(11.2)	(995.9)
Cash flows from financing activities:
Borrowings under senior notes payable			0
Borrowings under line of credit			0	0
Repayment of line of credit			0	0
Borrowings under investment debt			696.7	1,548.2
Repayment of investment debt			(382.5)	(615.1)
Debt issue costs			(4.7)	(13.4)
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			(70.6)	(59.5)
Contributions from noncontrolling interests, excluding KWE			25.3	6.5
Distributions to noncontrolling interests			(94.8)	(205.8)
Net cash provided by financing activities			169.4	660.9
Effect of currency exchange rate changes on cash and cash equivalents			(47.3)	(34.2)
Net change in cash and cash equivalents			200.5	(404.9)
Cash and cash equivalents, beginning of period			614.4	878.5
Cash and cash equivalents, end of period			$ 814.9	$ 473.6
[1]	See discussion of non-cash effects in notes to statement of cash flows.

Subsequent Events (Details)

Subsequent Events (Details) ft² in Thousands, shares in Millions	Nov. 03, 2016GBP (£)shares	Nov. 04, 2016USD ($)ft²Unit	Dec. 31, 2016USD ($)investmentproperty	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016GBP (£)	Feb. 25, 2016USD ($)
Subsequent Event [Line Items]
Payments to acquire real estate						$ 748,400,000	$ 1,534,000,000
Payments to acquire equity method investments						70,300,000	155,200,000
Net proceeds from sale of real estate						266,000,000	523,400,000
Gain on sale of real estate				$ 21,500,000	$ 4,600,000	76,000,000	44,700,000
Sale of real estate				$ 2,500,000	$ 1,600,000	16,700,000	$ 3,700,000
Authorized amount of stock to repurchase									$ 100,000,000
Stock repurchased during period, value						$ 28,700,000
KWE [Member]
Subsequent Event [Line Items]
Authorized amount of stock to repurchase | £								£ 100,000,000
Forecast [Member]
Subsequent Event [Line Items]
Payments to acquire real estate			$ 93,000,000
Number of real estate investments sold | investment			5
Sale of real estate			$ 309,000,000
Forecast [Member] | Multifamily [Member]
Subsequent Event [Line Items]
Number of real estate properties sold | property			3
Forecast [Member] | Office [Member]
Subsequent Event [Line Items]
Number of real estate properties sold | property			1
Forecast [Member] | Residential Land [Member]
Subsequent Event [Line Items]
Number of real estate properties sold | property			1
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of square feet of property sold | ft²		175
Proceeds from sale of real estate held-for-investment, gross		$ 61,500,000
Net proceeds from sale of real estate		28,500,000
Gain on sale of real estate		$ 12,800,000
Equity multiple		1.6
Subsequent Event [Member] | KWE [Member]
Subsequent Event [Line Items]
Stock repurchased and retired during period (in shares) | shares	4.9
Stock repurchased during period, value | £	£ 50,000,000
Ownership percentage by parent	22.60%
Subsequent Event [Member] | Equinox [Member]
Subsequent Event [Line Items]
Number of multifamily units acquired | Unit		204
Payments to acquire real estate		$ 90,300,000
Payments to acquire equity method investments		$ 38,000,000
Equity method investment, ownership percentage		51.00%