Kennedy-Wilson (KW) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 09, 2017
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	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		114,237,750

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents		$ 168	$ 260.2
Cash held by consolidated investments		640.3	625.5
Accounts receivable (including $39.8 and $30.4 of related party)		80.2	71.3
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,832	5,814.2
Loan purchases and originations		82.6	87.7
Unconsolidated investments (including $375.8 and $329.4 at fair value)		567.6	555.6
Other assets		255.3	244.6
Total assets	[1]	7,626	7,659.1
Liabilities
Accounts payable		14.7	11.2
Accrued expenses and other liabilities		377.8	412.1
Total liabilities	[1]	5,288.8	5,316
Equity
Common stock, 114,511,348 and 115,740,906 shares issued and outstanding as of March 31, 2017 and December 31, 2016		0	0
Additional paid-in capital		1,213	1,231.4
Accumulated deficit		(121.9)	(112.2)
Accumulated other comprehensive loss		(66.1)	(71.2)
Total Kennedy-Wilson Holdings, Inc. shareholders' equity		1,025	1,048
Noncontrolling interests		1,312.2	1,295.1
Total equity		2,337.2	2,343.1
Total liabilities and equity		7,626	7,659.1
Investment Debt [Member]
Liabilities
Long-term debt		3,959.2	3,956.1
Senior Notes [Member]
Liabilities
Long-term debt		$ 937.1	$ 936.6
[1]	The assets and liabilities as of March 31, 2017 include $4.6 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.7 billion) and $2.7 billion (including investment debt of $2.4 billion), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2016 include $4.5 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.6 billion) and $2.7 billion (including investment debt of $2.4 billion), 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		Mar. 31, 2017	Dec. 31, 2016
Assets
Related party accounts receivable		$ 39.8	$ 30.4
Fair value of unconsolidated investments		375.8	329.4
Assets	[1]	7,626	7,659.1
Cash held by consolidated investments		640.3	625.5
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,832	5,814.2
Liabilities
Liabilities	[1]	$ 5,288.8	$ 5,316
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, shares issued (in shares)		114,511,348	115,740,906
Common stock, shares outstanding (in shares)		114,511,348	115,740,906
Investment Debt [Member]
Liabilities
Long-term debt		$ 3,959.2	$ 3,956.1
Variable Interest Entity, Primary Beneficiary [Member]
Assets
Assets		4,600	4,500
Cash held by consolidated investments		600	600
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		3,700	3,600
Liabilities
Liabilities		2,700	2,700
Variable Interest Entity, Primary Beneficiary [Member] | Investment Debt [Member]
Liabilities
Long-term debt		$ 2,400	$ 2,400
[1]	The assets and liabilities as of March 31, 2017 include $4.6 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.7 billion) and $2.7 billion (including investment debt of $2.4 billion), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2016 include $4.5 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.6 billion) and $2.7 billion (including investment debt of $2.4 billion), 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
	Mar. 31, 2017	Mar. 31, 2016
Revenue
Rental	$ 124.3	$ 119.9
Hotel	29.5	29.1
Sale of real estate	0.8	1.9
Investment management, property services and research fees (includes $9.7 and $11.0 of related party fees)	17.5	19.1
Loan purchases, loan originations and other	2.1	2.1
Total revenue	174.2	172.1
Operating expenses
Rental operating	36	31
Hotel operating	24.4	24.5
Cost of real estate sold	0.7	1.4
Commission and marketing	2	1.8
Compensation and related	32.7	45.7
General and administrative	10	10.1
Depreciation and amortization	49.7	48.3
Total operating expenses	155.5	162.8
Income from unconsolidated investments	22.5	19.2
Operating income	41.2	28.5
Non-operating income (expense)
Gain on sale of real estate	5.4	38.4
Acquisition-related expenses	(0.3)	(2)
Interest expense-investment	(34.4)	(32.5)
Interest expense-corporate	(15.6)	(12.1)
Other income	0.5	0.7
(Loss) income before benefit from (provision for) income taxes	(3.2)	21
Benefit from (provision) for income taxes	4.1	(0.5)
Net income	0.9	20.5
Net income attributable to the noncontrolling interests	(0.1)	(27.4)
Preferred dividends and accretion of preferred stock issuance costs	0	(0.5)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 0.8	$ (7.4)
Basic income (loss) per share
Loss per basic (in dollars per share)	$ 0	$ (0.07)
Weighted average shares outstanding for basic (in shares)	112,167,447	109,214,633
Diluted income (loss) per share
Loss per diluted (in dollars per share)	$ 0	$ (0.07)
Weighted average shares outstanding for diluted (in shares)	112,167,447	109,214,633
Dividends declared per common share (in dollars per share)	$ 0.17	$ 0.14

Consolidated Statements of Ope5

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Investment management, property services, and research fees— related party	$ 9.7	$ 11

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 0.9	$ 20.5
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation gain	21.2	22.2
Unrealized gain on marketable securities	0	0.1
Unrealized currency derivative contracts gain (loss)	8.7	(50.3)
Total other comprehensive income (loss) for the period	29.9	(28)
Comprehensive income (loss)	30.8	(7.5)
Comprehensive (income) loss attributable to noncontrolling interests	(24.9)	1.5
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 5.9	$ (6)

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Millions		Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interests [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of ASU 2016-09 adoption	[1]	$ 9.3			$ 9.3
Cumulative effect of ASU 2016-09 adoption | Accounting Standards Update 2016-09 [Member]					9.3
Beginning balance outstanding (in shares) at Dec. 31, 2016			115,740,906
Balance beginning of period at Dec. 31, 2016		2,343.1	$ 0	$ 1,231.4	(112.2)	$ (71.2)	$ 1,295.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares forfeited (in shares)			(37,500)
Shares withheld and retired upon vesting of restricted stock grants (in shares)			(1,114,903)
Shares withheld and retired upon vesting of restricted stock grants		(27.5)		(27.5)
Shares retired due to common stock repurchase program (in shares)			(77,155)
Shares retired due to common stock repurchase program		(1.7)		(1.4)	(0.3)
Stock based compensation		10.5		10.5
Other comprehensive income (loss):
Unrealized foreign currency translation income, net of tax		21.2				5.4	15.8
Unrealized foreign currency derivative contract (loss) income, net of tax		8.7				(0.3)	9
Unrealized gains on marketable securities, net of tax		0				0
Common stock dividends		(19.5)			(19.5)
Net income		0.9			0.8		0.1
Acquisition of Kennedy Wilson Europe (KWE) shares from noncontrolling interest holders		(0.7)					(0.7)
Contributions from noncontrolling interests, excluding KWE		8.8					8.8
Distributions to noncontrolling interests		(15.9)					(15.9)
Ending balance outstanding (in shares) at Mar. 31, 2017			114,511,348
Balance end of period at Mar. 31, 2017		$ 2,337.2	$ 0	$ 1,213	$ (121.9)	$ (66.1)	$ 1,312.2
[1]	See Note 2 for further discussion.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income		$ 0.9	$ 20.5
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Net gain from sale of real estate		(5.6)	(38.9)
Depreciation and amortization		49.7	48.3
(Benefit from) provision for deferred income taxes		(5.8)	0.6
Amortization of deferred loan costs		2	2.5
Amortization of discount and accretion of premium on issuance of the senior notes and investment debt		(0.1)	(0.2)
Unrealized net loss (gain) on derivatives		0.3	(0.6)
Income from unconsolidated investments		(22.5)	(19.2)
Accretion of interest income on loans		(1.8)	(1.9)
Operating distributions from unconsolidated investments		17.6	6.6
Operating distributions from loan purchases and originations		1.7	9
Share-based compensation		10.5	17.5
Change in assets and liabilities:
Accounts receivable		1.6	(12)
Other assets		(8)	(11.6)
Accounts payable, accrued expenses and other liabilities		(29.3)	(29.5)
Net cash provided by (used in) operating activities		11.2	(8.9)
Cash flows from investing activities:
Additions to loans		0	(4.8)
Collections of loans		6.4	130.2
Net proceeds from sale of real estate		40.3	108
Purchases of and additions to real estate		(47)	(102.2)
Additions to nonrefundable escrow deposits		0	(1.7)
Proceeds from settlement of foreign derivative contracts		2.7	22.6
Purchases of foreign derivative contracts		(0.4)	(3.4)
Investment in marketable securities		(0.3)	(0.9)
Distributions from unconsolidated investments		17.9	23.8
Contributions to unconsolidated investments		(28.8)	(23.2)
Net cash (used in) provided by investing activities		(9.2)	148.4
Cash flows from financing activities:
Borrowings under line of credit		0	50
Borrowings under investment debt		24	126.2
Repayment of investment debt		(56.5)	(41.1)
Debt issue costs		(0.1)	(2.2)
Repurchase and retirement of common stock		(29.2)	(13.1)
Dividends paid		(18.5)	(14.3)
Acquisition of KWE shares from noncontrolling interest holders		(0.8)	(41.3)
Contributions from noncontrolling interests, excluding KWE		8.8	5.5
Distributions to noncontrolling interests		(15.9)	(43.7)
Net cash (used in) provided by financing activities		(88.2)	26
Effect of currency exchange rate changes on cash and cash equivalents		8.8	1
Net change in cash and cash equivalents	[1]	(77.4)	166.5
Cash and cash equivalents, beginning of period		885.7	731.6
Cash and cash equivalents, end of period		808.3	898.1
Supplemental cash flow information:
Interest	[2]	23.8	23.4
Income taxes	[3]	8.5	7.6
Supplemental disclosure of non-cash investing and financing activities:
Accrued capital expenditures		6.6	13.8
Dividends declared but not paid on common stock		$ 19.5	$ 16.1
[1]	See discussion of non-cash effects in notes to statement of cash flows.
[2]	and $8.1 million attributable to noncontrolling interests
[3]	and $6.2 million attributable to noncontrolling interests

Consolidated Statements of Cas9

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Cash Flows [Abstract]
Interest paid attributable to noncontrolling interest	$ 5.8	$ 8.1
Income taxes paid attributable to noncontrolling interest	$ 6.5	$ 6.2

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
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 months ended March 31, 2017 and 2016 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, 2017 . 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, 2016 . Throughout this unaudited interim consolidated financial statements “KW Group,” is referenced which is defined as the Company and its subsidiaries that are consolidated in its financial statements under U.S. GAAP (including KWE as defined below). All significant intercompany balances and transactions have been eliminated in consolidation. "KW," “KWH,” “Kennedy Wilson,” the “Company,” “we,” “our,” or “us” are also referred to which are defined as Kennedy-Wilson Holdings, Inc. and its wholly-owned subsidiaries. Kennedy Wilson Europe Real Estate Plc (“KWE,” LSE: KWE), a Jersey investment company formed to invest in real estate and real estate-related assets in Europe, closed its initial public offering ("IPO") on the London Stock Exchange during the quarter ended March 31, 2014. KWE is externally managed by a wholly-owned subsidiary of Kennedy Wilson incorporated in Jersey pursuant to an investment management agreement. Due to the terms provided in the investment management agreement and Kennedy Wilson's equity ownership interest in KWE, pursuant to the guidance set forth in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Subtopic 810 - Consolidation (“Subtopic 810”), the Company is required to consolidate KWE’s results in its consolidated financial statements. As of March 31, 2017 , the Company invested $490.1 million and owned approximately 23.65% of KWE’s total issued share capital. On April 24, 2017, the Company announced an offer by the Company to acquire all of the outstanding shares (other than shares owned by the Company or its subsidiaries or held in treasury) of KWE, in an all-stock transaction. See Note 16 for more detail. Prior to KWE's formation and for investments that do not meet KWE's investment guidelines, the Company (along with its equity partners) has directly invested in 17 properties and a servicing platform in Europe which had total assets of $867.4 million included in the Company's consolidated balance sheet and $274.7 million of equity as of March 31, 2017 . As of March 31, 2017 , the Company's weighted average ownership in these investments was 63% . 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	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 that may be reversed in future periods if there is negative fund performance totaled $33.8 million . Net performance fees recognized during the three months ended March 31, 2017 and 2016 were $6.5 million and $6.4 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 $1.1 billion as of March 31, 2017 . 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 to a lesser extent, 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 apply to KW Group’s management and leasing fees (including performance fees), commissions, rental and hotel income. Management is evaluating the impact of the five-step model and determined that it is not expected to have a significant impact on the financial statements. ASU 2014-09 will also impact how sales of real estate are reported, which will become subject to ASC Subtopic 610-20 Other Income- Gains and Losses from the Derecognition of Nonfinancial Assets ("Subtopic 610-20") . After review of Subtopic 610-20, management concluded that the new standard is not expected to have a significant impact on the amount, timing or classification of real estate sales in the financial statements or related disclosures based on the Company's current business mix. The new standard will replace most existing revenue recognition in GAAP when it becomes effective for the Company on January 1, 2018. The Company is planning on adopting a modified retrospective transition method when the guidance becomes effective. 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 KW Group'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. In March 2016, the FASB issued ASU 2016-07, Simplifying the Transition to the Equity Method of Accounting , which eliminates the requirement for an investor to retroactively apply the equity method when its increase in ownership interest (or degree of influence) in an investee triggers equity method accounting. ASU 2016-07 is effective for all entities in fiscal years beginning after December 15, 2016. The adoption of this standard did not have a material impact on KW Group's consolidated financial statements. On March 30, 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which is intended to improve the accounting for share-based payment transactions as part of the FASB’s implication initiative. The ASU changes seven aspects of the accounting for share-based payment transactions, including (1) accounting for income taxes; (2) classification of excess tax benefits on the statement of cash flows; (3) forfeitures; (4) minimum statutory tax withholding requirements; (5) classification of employee taxes paid on the statement of cash flows when the employer withholds shares for tax withholding purposes; (6) practical expedient - expected term (nonpublic only); and (7) intrinsic value (nonpublic only). ASU 2016-09 requires excess tax benefits and deficiencies to be recognized as a component of income tax expense rather than equity. An excess tax benefit (windfall) arises when the value of the share-based award on the vesting date is higher than the fair value on the grant date. A tax deficiency (shortfall) arises when the fair value on vesting date is lower than the fair value on the grant date. In addition, ASU 2016-09 eliminated the requirement for excess tax benefits from share-based compensation to reduce current taxes payable prior to being recognized in the financial statement. The inclusion of excess tax benefits and deficiencies as a component of our income tax expense will increase volatility within the Company’s tax provision for income taxes as the amount of excess tax benefits or deficiencies from stock-based compensation awards is from now on dependent upon the Company’s stock price on the date the awards vest. On January 1, 2017, KW Group adopted ASU 2016-09 under the modified retrospective approach and recorded the cumulative impact of the accounting change through a reduction to the accumulated deficit of $9.3 million This amount represents the cumulative excess tax benefits related to share-based compensation as of December 31, 2016 which had not been reflected as a deferred tax asset. As a result of adoption of ASU 2016-09, the excess tax benefits were reclassified to net operating loss carryover, resulting in an increase in our deferred tax asset by $9.3 million as of January 1, 2017. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments , which addresses eight classification issues related to the statement of cash flows: (a) debt prepayment or debt extinguishment costs, (b) settlement of zero-coupon bonds, (c) contingent consideration payments made after a business combination (d) proceeds from the settlement of insurance claims, (e) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, (f) distributions received from equity method investees, (g) beneficial interests in securitization transactions, and (h) separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is required to be adopted for public entities for fiscal years beginning after December 15, 2017. The Company does not expect the ASU to have a significant impact on KW Group's consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The ASU clarifies the definition of a business. The three elements of a business (inputs, processes, and outputs) has not changed, however, the amendment provides a framework to assist entities in evaluating whether these elements are present. The amended framework is not expected to materially impact the Company’s financial statements. However, the amendment also includes a provision that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. Therefore, Real estate acquisitions generally will no longer be considered a business and consequently not be accounted for under Topic 805. The Company has evaluated the likely impacts noting that (1) acquisition related costs will no longer be expensed as incurred and (2) regardless of the market value of a property at the acquisition date, acquisition related gains will no longer be recorded. ASU 2017-01 is required to be adopted for public entities for fiscal years beginning after December 15, 2017. The Company does not expect the ASU to have a significant impact on KW Group's consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, which requires an entity to no longer perform a hypothetical purchase price allocation to measure goodwill impairment. Instead, impairment will be measured using the difference between the carrying amount and the fair value of the reporting unit. ASU 2017-04 is required to be adopted for public entities that are SEC filers, for annual and interim periods in fiscal years beginning after December 15, 2019. T he Company does not expect the ASU to have a significant impact on KW Group's consolidated financial statements. The FASB did not issue any other ASUs during the first three months of 2017 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	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
LOAN PURCHASES AND ORIGINATIONS	LOAN PURCHASES AND ORIGINATIONS KW Group's investment in loan purchases and originations was $82.6 million and $87.7 million at March 31, 2017 and December 31, 2016 , respectively. During the first quarter of 2017, Kennedy Wilson collected in full approximately $6.4 million on a loan secured by an office property in San Diego, CA. KW Group recognized interest income on loans of $2.1 million and $2.1 million during the three months ended March 31, 2017 and 2016 , respectively.

Real Estate and In-Place Lease

Real Estate and In-Place Lease Value	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 : March 31, December 31, (Dollars in millions) 2017 2016 Land $ 1,386.7 $ 1,383.2 Buildings 4,050.0 4,048.7 Building improvements 424.1 373.5 In-place lease values 386.9 383.1 6,247.7 6,188.5 Less accumulated depreciation and amortization (415.7 ) (374.3 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,832.0 $ 5,814.2 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 10.6 years at March 31, 2017 . Gains on real estate During the three months ended March 31, 2017 , KW Group recognized the following gains on sale of real estate: (Dollars in millions) Gain on sale of real estate Description Consolidated (1) NCI Net of NCI KW One multifamily property in the Western U.S. $ 3.2 $ 0.2 $ 3.0 KWE Four commercial properties in the United Kingdom and one condo unit sale in Spain 2.4 1.8 0.6 KW Group $ 5.6 $ 2.0 $ 3.6 (1) Includes both the sale of real estate as a business, which is recognized through gain on sale of real estate, and the sale of real estate as assets, which is the net of sale of real estate and cost of real estate sold. Guarantees Kennedy Wilson has certain guarantees associated with loans secured by consolidated assets. As of March 31, 2017 , the maximum potential amount of future payments (undiscounted) Kennedy Wilson could be required to make under the guarantees was approximately $50.4 million which is approximately 1% of investment level debt of Kennedy Wilson and its equity partners. The guarantees expire through 2026 , and Kennedy Wilson’s performance under the guarantees would be required to the extent there is a shortfall upon liquidation between the principal amount of the loan and the net sale proceeds from the property. Based on the Company's evaluation of guarantees under FASB ASC Subtopic 460-10 Estimated Fair Value of Guarantees, the estimated fair value of guarantees made as of March 31, 2017 and December 31, 2016 were immaterial.

Unconsolidated Investments

Unconsolidated Investments	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 : (Dollars in millions) Multifamily Commercial Residential and Other Total Western U.S. $ 206.2 $ 73.2 $ 254.2 $ 533.6 United Kingdom — 11.0 — 11.0 Spain — — 16.6 16.6 Japan 6.4 — — 6.4 Total $ 212.6 $ 84.2 $ 270.8 $ 567.6 The following table details the Company's unconsolidated investments by investment type and geographic location as of December 31, 2016 : (Dollars in millions) Multifamily Commercial Residential and Other Total Western U.S. $ 192.9 $ 65.3 $ 261.6 $ 519.8 United Kingdom — 13.8 — 13.8 Spain — — 15.9 15.9 Japan 6.1 — — 6.1 Total $ 199.0 $ 79.1 $ 277.5 $ 555.6 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 over 30 syndicated limited partnerships ("LPs") that own multifamily properties via a traditional low-income housing tax credit ("LIHTC") structure in the Western United States. The remaining interest is held by one nonaffiliated 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 March 31, 2017 and December 31, 2016 , the carrying value in VHH was $95.5 million and $84.2 million , respectively. The LPs generate cash flow through their controlling interests in entities owning multifamily housing that is predominantly structured with LIHTCs. The Company has elected the fair value option on its unconsolidated investment in VHH. During the year, the Company recognized a total of $12.4 million fair value gains through equity income. Fair value gains are primarily generated from resyndications in which VHH dissolves an existing partnership and recapitalizes into a new partnership with tax exempt bonds and tax credits which are sold to a new tax credit LP partner and, in many cases, yields cash back to VHH. Upon resyndication, VHH retains a GP interest in the partnership and receives various future streams of cash flows including; development fees, asset management fees, other GP management fees and distributions from operations. Since the investment is accounted for under the fair value option, operating distributions are recorded as equity income. See Note 6 for additional details. The Company has recognized $1.8 million in equity income related to operating distributions during the year. Contributions to Joint Ventures During the three months ended March 31, 2017 , Kennedy Wilson contributed $7.7 million to a new joint venture. Kennedy Wilson contributed $21.1 million to existing joint ventures during the three months ended March 31, 2017 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 three months ended March 31, 2017 , Kennedy Wilson received $35.5 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 three months ended March 31, 2017 : Multifamily Commercial Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 5.7 $ 4.5 $ 6.9 $ 1.2 $ 2.7 $ 12.2 $ 15.3 $ 17.9 United Kingdom — — 2.3 — — — 2.3 — Total $ 5.7 $ 4.5 $ 9.2 $ 1.2 $ 2.7 $ 12.2 $ 17.6 $ 17.9 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 March 31, 2017 , Kennedy Wilson had unfulfilled capital commitments totaling $19.4 million to four of its joint ventures under the respective operating agreements. 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	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 375.8 $ 375.8 Marketable securities 7.9 — — 7.9 Currency derivative contracts — (43.2 ) — (43.2 ) Total $ 7.9 $ (43.2 ) $ 375.8 $ 340.5 The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2016 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 329.4 $ 329.4 Marketable securities 7.5 — — 7.5 Currency derivative contracts — (47.2 ) — (47.2 ) Total $ 7.5 $ (47.2 ) $ 329.4 $ 289.7 Unconsolidated Investments Kennedy Wilson elected to use the fair value option ("FV Option") for fourteen 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 $322.7 million and $282.4 million at March 31, 2017 and December 31, 2016 , respectively, which is included in unconsolidated investments in the accompanying balance sheets. Additionally, Kennedy Wilson records its investments in KW Property Fund III, L.P., Kennedy Wilson Real Estate Fund IV, and Kennedy Wilson Real Estate Fund V, LP (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 $53.1 million and $47.0 million at March 31, 2017 and December 31, 2016 , respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets. As of March 31, 2017 , Kennedy Wilson had unfunded capital commitments to the Funds in the amount of $17.8 million . In estimating fair value of real estate held by the Funds and the fourteen 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) March 31, 2017 December 31, 2016 FV Option $ 322.7 $ 282.4 Funds 53.1 47.0 Total $ 375.8 $ 329.4 The following table presents changes in Level 3 investments, investments in investment companies and investments in joint ventures that elected the fair value option for the three months ended March 31, 2017 and 2016 : Three Months Ended March 31, (Dollars in millions) 2017 2016 Beginning balance $ 329.4 $ 223.8 Unrealized and realized gains 23.5 17.6 Unrealized and realized losses (2.3 ) — Contributions 20.2 15.9 Distributions (19.3 ) (22.9 ) Other (1) 24.3 0.4 Ending balance $ 375.8 $ 234.8 (1) Primarily related to the application of cash held in escrow for a 1031 exchange for a multifamily property in the Western U.S. 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% - 8.60% 7.00% - 9.75% Retail 5.50% - 9.00% 7.75% - 11.50% Multifamily 4.75% - 7.75% 8.00% - 9.75% Land and condominium units N/A 7.00% - 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 1.32% to 4.47% . 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. 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 29.8 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 $ 353.6 million (cost basis of $ 490.1 million ) based on a per share price of $11.85 at March 31, 2017 . As of March 31, 2017 , the Company had fully hedged the foreign currency rate risk of its net investment in KWE through using currency forward contracts and options, with a notional amount of £356.0 million . 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 March 31, 2017 , 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 March 31, 2017 and December 31, 2016 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 March 31, 2017 and the activity during the three months ended March 31, 2017 : (Dollars in millions) March 31, 2017 Three Months Ended March 31, 2017 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 $ 3.2 $ (0.3 ) $ (0.8 ) $ — $ — EUR (1) GBP € 360.0 — (57.5 ) 8.8 — — EUR (1)(2) GBP — — 2.9 — — GBP USD £ 356.0 12.1 (0.5 ) (2.4 ) — (0.4 ) Yen USD ¥ 757.0 0.1 (0.3 ) (0.2 ) — — Total Outstanding 15.4 (58.6 ) 8.3 — (0.4 ) Settled GBP USD — — 0.2 — 2.7 Total Settled — — 0.2 — 2.7 Total 15.4 (58.6 ) 8.5 — 2.3 Noncontrolling interests — 43.9 (9.0 ) — — Total - Kennedy Wilson share $ 15.4 $ (14.7 ) $ (0.5 ) $ — $ 2.3 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 8. (3) Underlying investment was sold by KW Group. Historical amounts within other comprehensive income were reclassified to the statement of operations at time of sale. 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, and other assets 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 March 31, 2017 and December 31, 2016 for the senior notes payable and investment debt were estimated to be approximately $5.0 billion and $5.0 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 $ 4.9 billion and $4.9 billion at March 31, 2017 and December 31, 2016 , respectively. The inputs used to value the Company's senior notes payable 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	3 Months Ended
	Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following: (Dollars in millions) March 31, 2017 December 31, 2016 Above-market leases, net of accumulated amortization of $32.1 and $28.1 at March 31, 2017 and December 31, 2016, respectively $ 69.4 $ 72.4 Deferred tax asset, net 40.1 28.4 Other, net of accumulated amortization of $6.1 and $5.4 at March 31, 2017 and December 31, 2016, respectively 37.2 31.6 VAT receivable 24.2 23.2 Goodwill 23.9 23.9 Office furniture and equipment net of accumulated depreciation of $27.2 and $24.4 at March 31, 2017 and December 31, 2016, respectively 23.6 25.4 Hedge assets 15.4 20.2 Prepaid expenses 11.8 10.2 Marketable securities (1) 7.9 7.5 Deposits 1.8 1.8 Other Assets $ 255.3 $ 244.6 (1) The amount above excludes Kennedy Wilson's 29.8 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 $ 353.6 million (cost basis of $ 490.1 million ) based on a per share price of $11.85 at March 31, 2017 .

Investment Debt

Investment Debt	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
INVESTMENT DEBT	INVESTMENT DEBT Investment debt at March 31, 2017 and December 31, 2016 consists of the following: (Dollars in millions) Carrying Amount of Investment Debt as of (1) Investment Debt by Product Type Region March 31, December 31, Mortgage debt Multifamily (1) Western U.S. $ 1,165.0 $ 1,180.8 Commercial Western U.S. 291.2 290.2 Residential, Hotel and Other Western U.S. 49.7 49.8 Commercial (1)(2) Ireland 335.3 331.5 Multifamily (1)(2) Ireland 132.9 131.3 Residential and Other (1)(2) Ireland 33.3 28.0 Hotel Ireland 76.7 75.7 Commercial (2) Spain 85.3 84.4 Commercial (1)(2) United Kingdom 604.6 616.9 Secured investment debt 2,774.0 2,788.6 Unsecured investment debt (1)(2) United Kingdom 1,209.2 1,192.4 Investment debt (excluding loan fees) $ 3,983.2 $ 3,981.0 Unamortized loan fees (24.0 ) (24.9 ) Total Investment debt $ 3,959.2 $ 3,956.1 (1) The investment debt payable balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan premium as of March 31, 2017 and December 31, 2016 was $0.6 million and $0.9 million , respectively. (2) Kennedy Wilson owned approximately 23.65% and 23.60% of the total issued share capital of KWE as of March 31, 2017 and December 31, 2016 , 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 March 31, December 31, Commercial (1)(2) Ireland 257.6 254.7 Commercial (1)(2) Spain 85.3 84.4 Commercial (1)(2) United Kingdom 538.0 551.4 Investment debt $ 880.9 $ 890.5 Unsecured (1)(2) United Kingdom 1,209.2 1,192.4 Investment debt (excluding loan fees) $ 2,090.1 $ 2,082.9 Unamortized loan fees (12.7 ) (13.3 ) Total Investment debt $ 2,077.4 $ 2,069.6 (1) The mortgage loan payable balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and 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 March 31, 2017 and December 31, 2016 was $4.1 million and $4.1 million , respectively. (2) Kennedy Wilson owned approximately 23.65% and 23.60% of the total issued share capital of KWE as of March 31, 2017 and December 31, 2016 , respectively. The investment debt had a weighted average interest rate of 3.34% and 3.33% per annum at March 31, 2017 and December 31, 2016 , respectively. As of March 31, 2017 and December 31, 2016 , 75% of KW Group's investment level debt was fixed rate, 15% was floating rate with interest caps and 10% was floating rate without interest caps. During the second quarter of 2015, KWE completed its inaugural bond offering of approximately $376.5 million (based on March 31, 2017 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 $251.0 million (based on March 31, 2017 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 $2.5 billion based on March 31, 2017 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 $585.9 million (based on March 31, 2017 rates) ( €550 million ) (the "KWE Notes"). The KWE Notes were issued at a discount and have a carrying value of $581.7 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 three months ended March 31, 2017 , KW Group recognized a gain of $2.9 million in accumulated other comprehensive income due to the weakening 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 March 31, 2017 , 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 $282.4 million ( £225 million ) based on rates as of March 31, 2017 . As of March 31, 2017 , the unsecured credit facility was undrawn, with $282.4 million ( £225 million ) still available based on rates as of March 31, 2017 . During the three months ended March 31, 2017 , one existing mortgage was refinanced. The aggregate maturities of investment debt subsequent to March 31, 2017 are as follows: (Dollars in millions) Aggregate Maturities 2017 $ 68.4 2018 166.6 2019 558.2 2020 256.0 2021 102.7 Thereafter 2,830.7 3,982.6 Debt premium 0.6 Unamortized loan fees (24.0 ) $ 3,959.2

Senior Notes

Senior Notes	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
SENIOR NOTES	SENIOR NOTES March 31, 2017 December 31, 2016 (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 (2.1 ) 897.9 900.0 (2.2 ) 897.8 Senior Notes $ 955.0 $ (2.1 ) $ 952.9 $ 955.0 $ (2.2 ) $ 952.8 Unamortized loan fees (15.8 ) (16.2 ) Total Senior Notes $ 937.1 $ 936.6 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 March 31, 2017 , the maximum balance sheet leverage ratio was 0.93 to 1.00. See Note 15 for the guarantor and non-guarantor financial statements.

Borrowings Under Lines of Credi

Borrowings Under Lines of Credit	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 , the Borrower’s consolidated leverage ratio was 61.9% , its fixed charge coverage ratio was 2.5 to 1.00, its consolidated tangible net worth was $1,214.5 million , its adjusted secured leverage ratio was 45% , its secured recourse leverage ratio was 1.4% , its recourse leverage ratio was 0.84 , and liquidity was $615.0 million . The obligations of the Borrower pursuant to the Credit Agreement are guaranteed by KWH and certain of its wholly-owned subsidiaries. During the three months ended March 31, 2017 , there was no activity on the KW Revolving Facility. As of March 31, 2017 and December 31, 2016 , the KW Revolving Facility was undrawn, and $475.0 million was still available.

Equity

Equity	3 Months Ended
	Mar. 31, 2017
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 three months ended March 31, 2017 , Kennedy Wilson repurchased and retired 77,155 shares for $1.7 million under the stock repurchase program. During the three months ended March 31, 2016 , Kennedy Wilson repurchased and retired 240,000 shares for $5.0 million under the stock repurchase program. Dividend Distributions During the following periods, Kennedy Wilson declared and paid the following cash distributions on its common and preferred stock: Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 (Dollars in millions) Declared Paid Declared Paid Preferred Stock Series B (1) — — 0.5 0.5 Total Preferred Stock — — 0.5 0.5 Common Stock 19.5 18.5 16.1 13.8 Total (2) $ 19.5 $ 18.5 $ 16.6 $ 14.3 (1) The decrease in Series B dividends during the current year is due to the early conversion of the Series B preferred stock into common shares during the fourth quarter of 2016. (2) The difference between declared and paid is the amount accrued on the consolidated balance sheets. Share-based Compensation During the three months ended March 31, 2017 and 2016 , KW Group recognized $10.7 million and $17.5 million of compensation expense related to the vesting of restricted stock grants. The decrease for the three months ended March 31, 2017 is mainly due to restricted stock that was granted in 2012 under the Company’s Amended and Restated 2009 Equity Participation Plan being fully expensed as of December 31, 2016. 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 ended March 31, 2017 and 2016 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 March 31, 2017 and 2016 were 1,114,903 shares and 396,442 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. During the three months ended March 31, 2017 and 2016 , total payments for the employees’ tax obligations to the taxing authorities were $27.5 million and $8.1 million , respectively. These activities 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, 2016 $ (98.6 ) $ 27.5 $ (0.1 ) $ (71.2 ) Unrealized gains, arising during the period 24.8 8.5 0.1 33.4 Noncontrolling interest (15.8 ) (9.0 ) — (24.8 ) Taxes on unrealized gains, arising during the period (3.6 ) 0.2 (0.1 ) (3.5 ) Balance at March 31, 2017 $ (93.2 ) $ 27.2 $ (0.1 ) $ (66.1 ) 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 decrease in the unrealized losses on foreign currency translation is a result of the weakening of the U.S. dollar against the euro, the British pound and the Japanese yen during the three months ended March 31, 2017 . 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 March 31, 2017 and December 31, 2016 KW Group had noncontrolling interest of $1.3 billion and $1.3 billion , respectively. Kennedy Wilson currently owns approximately 23.65% of KWE’s total issued share capital as of March 31, 2017 . The noncontrolling interest holders in KWE had an equity balance of $1.1 billion as of March 31, 2017 . 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	3 Months Ended
	Mar. 31, 2017
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 months ended March 31, 2017 and 2016 : Three Months Ended March 31, (Dollars in millions, except share and per share amounts) 2017 2016 Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 0.8 $ (7.4 ) Dividends allocated to participating securities (0.3 ) (0.5 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities 0.5 (7.9 ) Dividends declared on common shares (19.3 ) (15.6 ) Undistributed losses attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ (18.8 ) $ (23.5 ) Distributed earnings per share $ 0.17 $ 0.14 Undistributed losses per share (0.17 ) (0.21 ) Loss per basic — (0.07 ) Loss per diluted $ — $ (0.07 ) Weighted average shares outstanding for basic 112,167,447 109,214,633 Weighted average shares outstanding for diluted (1) 112,167,447 109,214,633 Dividends declared per common share $ 0.17 $ 0.14 (1) For the three months ended March 31, 2017 , a total of 1,111,243 potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive. For the three months ended March 31, 2016 , a total of 8,381,629 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	3 Months Ended
	Mar. 31, 2017
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 40% as of March 31, 2017 . 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 months ended March 31, 2017 and 2016 and balance sheet data as of March 31, 2017 and December 31, 2016 : Three Months Ended March 31, (Dollars in millions) 2017 2016 Investments Rental $ 124.3 $ 119.9 Hotel 29.5 29.1 Sale of real estate 0.8 1.9 Loan purchases, loan originations and other 2.1 2.1 Total revenue 156.7 153.0 Operating expenses (78.4 ) (75.2 ) Depreciation and amortization (49.7 ) (48.3 ) Income from unconsolidated investments 21.6 18.1 Operating income 50.2 47.6 Gain on sale of real estate 5.4 38.4 Acquisition-related expenses (0.3 ) (2.0 ) Interest expense - investments (34.4 ) (32.5 ) Other 0.8 0.7 Income before provision for income taxes 21.7 52.2 Provision for income taxes (1.0 ) (1.0 ) Net income 20.7 51.2 Net income attributable to the noncontrolling interests (0.1 ) (27.4 ) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 20.6 $ 23.8 Three Months Ended March 31, (Dollars in millions) 2017 2016 Investment Management and Real Estate Services Investment management, property services and research fees (includes $9.7 and $11.0 of related party fees, respectively) $ 17.5 $ 19.1 Total revenue 17.5 19.1 Operating expenses (13.3 ) (15.9 ) Income from unconsolidated investments 0.8 1.2 Operating income 5.0 4.4 Net income attributable to the noncontrolling interests — — Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 5.0 $ 4.4 Three Months Ended March 31, (Dollars in millions) 2017 2016 Corporate Operating expenses $ (14.1 ) $ (23.5 ) Operating loss (14.1 ) (23.5 ) Interest expense-corporate (15.6 ) (12.1 ) Other (0.2 ) — Loss before provision for income taxes (29.9 ) (35.6 ) (Provision for) benefit from income taxes 5.1 0.5 Net loss (24.8 ) (35.1 ) Preferred dividends and accretion of preferred stock issuance costs — (0.5 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (24.8 ) $ (35.6 ) Three Months Ended March 31, (Dollars in millions) 2017 2016 Consolidated Rental $ 124.3 $ 119.9 Hotel 29.5 29.1 Sale of real estate 0.8 1.9 Investment management, property services and research fees (includes $9.7 and $11.0 of related party fees) 17.5 19.1 Loans and other 2.1 2.1 Total revenue 174.2 172.1 Operating expenses (105.8 ) (114.5 ) Depreciation and amortization (49.7 ) (48.3 ) Total operating expenses (155.5 ) (162.8 ) Income from unconsolidated investments 22.5 19.2 Operating income 41.2 28.5 Gain on sale of real estate 5.4 38.4 Acquisition-related expenses (0.3 ) (2.0 ) Interest expense - investment (34.4 ) (32.5 ) Interest expense - corporate (15.6 ) (12.1 ) Other 0.5 0.7 (Loss) income before benefit from income taxes (3.2 ) 21.0 Provision for income taxes 4.1 (0.5 ) Net (loss) income 0.9 20.5 Net income attributable to the noncontrolling interests (0.1 ) (27.4 ) Preferred dividends and accretion of preferred stock issuance costs — (0.5 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 0.8 $ (7.4 ) (Dollars in millions) March 31, 2017 December 31, 2016 Total Assets Investments $ 7,410.5 $ 7,375.5 Investment management and real estate services 88.0 78.1 Corporate 127.5 205.5 Total assets $ 7,626.0 $ 7,659.1

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
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. During the three months ended March 31, 2017 , KW Group generated a pretax book loss of $3.2 million related to its global operations, and recorded a tax benefit of $4.1 million . During the quarter ended March 31, 2017 , the Company adopted ASU 2016-09. As a result of the adoption of ASU 2016-09, the Company recorded an adjustment to opening retained earnings of $9.3 million for excess tax benefits from share awards which had not been recognized under the prior accounting standard. In addition, during the quarter ended March 31, 2017 , the Company realized excess tax benefits of $12.4 million from the vesting of restricted stock awards and dividend equivalents on restricted stock, which resulted in a tax benefit of $4.3 million . The difference between the U.S. federal rate of 35% and the Company's effective rate is primarily attributable to excess tax benefit from vesting of restricted stock awards and income earned by noncontrolling interests which is generally not subject to corporate taxes. The Company has subsidiaries in the United Kingdom, Ireland, Luxembourg, Spain and Jersey which manage the Company's European real estate investments, as well as subsidiaries in Ireland and Scotland that operate hotel businesses. As of March 31, 2017 , two of the Company's subsidiaries foreign subsidiaries have positive, accumulated earnings of $3.9 million . U.S. domestic taxes have not been provided on amounts earned by such foreign companies since it is the Company's plan to indefinitely reinvest amounts earned by these foreign subsidiaries. If this amount was repatriated to the United States, additional U.S. domestic taxes of $1.2 million would be incurred.

Guarantor and Non-Guarantor Fin

Guarantor and Non-Guarantor Financial Statements	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 ; consolidating statements of operations for the three months ended March 31, 2017 and 2016 ; consolidating statements of comprehensive income for the three months ended March 31, 2017 and 2016 ; and condensed consolidating statements of cash flows for the three months ended March 31, 2017 and 2016 , 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 months ended March 31, 2017 or 2016 . CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 74.2 $ 53.5 $ 40.3 $ — $ 168.0 Cash held by consolidated investments — — — 640.3 — 640.3 Accounts receivable — — 47.0 33.2 — 80.2 Loan purchases and originations — 0.3 5.7 76.6 — 82.6 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,494.7 4,337.3 — 5,832.0 Unconsolidated investments — 19.3 370.4 177.9 — 567.6 Investments in and advances to consolidated subsidiaries 1,044.5 2,048.6 1,151.9 — (4,245.0 ) — Other assets — 2.6 46.0 206.7 — 255.3 Total assets $ 1,044.5 $ 2,145.0 $ 3,169.2 $ 5,512.3 $ (4,245.0 ) $ 7,626.0 Liabilities and equity Liabilities Accounts payable $ — $ 0.3 $ 1.8 $ 12.6 $ — $ 14.7 Accrued expenses and other liabilities 19.5 163.1 183.7 11.5 — 377.8 Investment debt — — 935.1 3,024.1 — 3,959.2 Senior notes payable — 937.1 — — — 937.1 Line of credit — — — — — — Total liabilities 19.5 1,100.5 1,120.6 3,048.2 — 5,288.8 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,025.0 1,044.5 2,048.6 1,151.9 (4,245.0 ) 1,025.0 Noncontrolling interests — — — 1,312.2 — 1,312.2 Total equity 1,025.0 1,044.5 2,048.6 2,464.1 (4,245.0 ) 2,337.2 Total liabilities and equity $ 1,044.5 $ 2,145.0 $ 3,169.2 $ 5,512.3 $ (4,245.0 ) $ 7,626.0 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 106.0 $ 45.4 $ 108.8 $ — $ 260.2 Cash held by consolidated investments — — — 625.5 — 625.5 Accounts receivable — — 37.5 33.8 — 71.3 Loan purchases and originations — 0.3 12.1 75.3 — 87.7 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,482.5 4,331.7 — 5,814.2 Unconsolidated investments — 18.8 380.0 156.8 — 555.6 Investments in and advances to consolidated subsidiaries 1,063.8 2,073.2 1,171.6 — (4,308.6 ) — Other assets — 2.6 39.7 202.3 — 244.6 Total assets $ 1,063.8 $ 2,200.9 $ 3,168.8 $ 5,534.2 $ (4,308.6 ) $ 7,659.1 Liabilities Accounts payable $ — $ 0.5 $ 1.6 $ 9.1 $ — 11.2 Accrued expense and other liabilities 15.8 200.0 157.2 39.1 — 412.1 Senior notes payable — 936.6 — — — 936.6 Investment debt — — 936.8 3,019.3 — 3,956.1 Total liabilities 15.8 1,137.1 1,095.6 3,067.5 — 5,316.0 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,048.0 1,063.8 2,073.2 1,171.6 (4,308.6 ) 1,048.0 Noncontrolling interests — — — 1,295.1 — 1,295.1 Total equity 1,048.0 1,063.8 2,073.2 2,466.7 (4,308.6 ) 2,343.1 Total liabilities and equity $ 1,063.8 $ 2,200.9 $ 3,168.8 $ 5,534.2 $ (4,308.6 ) $ 7,659.1 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 33.1 $ 91.2 $ — 124.3 Hotel — — — 29.5 — 29.5 Sale of real estate — — — 0.8 — 0.8 Investment management, property services and research fees — — 15.5 2.0 — 17.5 Loan purchases, loan originations and other — — 0.3 1.8 — 2.1 Total revenue — — 48.9 125.3 — 174.2 Operating expenses Rental operating — — 13.2 22.8 — 36.0 Hotel operating — — — 24.4 — 24.4 Cost of real estate sold — — — 0.7 — 0.7 Commission and marketing — — 1.9 0.1 — 2.0 Compensation and related 10.7 7.2 12.7 2.1 — 32.7 General and administrative — 2.9 4.5 2.6 — 10.0 Depreciation and amortization — 0.4 11.6 37.7 — 49.7 Total operating expenses 10.7 10.5 43.9 90.4 — 155.5 Income from unconsolidated subsidiaries — 1.2 6.9 14.4 — 22.5 Income from consolidated subsidiaries 11.6 31.6 26.6 — (69.8 ) — Operating income (loss) 0.9 22.3 38.5 49.3 (69.8 ) 41.2 Non-operating income (expense) Acquisition-related gains — — — — — — Acquisition-related expenses — — — (0.3 ) — (0.3 ) Interest expense-corporate — (15.6 ) — — — (15.6 ) Interest expense-investment — — (8.4 ) (26.0 ) — (34.4 ) Gain on sale of real estate — — — 5.4 — 5.4 Other income / (expense) — (0.2 ) — 0.7 — 0.5 Income (loss) before benefit from income taxes 0.9 6.5 30.1 29.1 (69.8 ) (3.2 ) (Provision for) benefit from income taxes — 5.1 1.5 (2.5 ) — 4.1 Net income (loss) 0.9 11.6 31.6 26.6 (69.8 ) 0.9 Net (income) loss attributable to the noncontrolling interests — — — (0.1 ) — (0.1 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 0.9 11.6 31.6 26.5 (69.8 ) 0.8 Preferred dividends and accretion of preferred stock issuance costs — — — — — — Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 0.9 $ 11.6 $ 31.6 $ 26.5 $ (69.8 ) $ 0.8 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 24.9 $ 95.0 $ — $ 119.9 Hotel — — — 29.1 — 29.1 Sale of real estate — — — 1.9 — 1.9 Investment management, property services, and research fees — — 18.2 0.9 — 19.1 Loan purchases, loan originations and other — — 0.3 1.8 — 2.1 Total revenue — — 43.4 128.7 — 172.1 Operating expenses Rental operating — — 9.9 21.1 — 31.0 Hotel operating — — — 24.5 — 24.5 Cost of real estate sold — — — 1.4 — 1.4 Commission and marketing — — 1.7 0.1 — 1.8 Compensation and related 17.5 13.9 12.2 2.1 — 45.7 General and administrative — 3.4 3.8 2.9 — 10.1 Depreciation and amortization — 0.3 8.5 39.5 — 48.3 Total operating expenses 17.5 17.6 36.1 91.6 — 162.8 Income from unconsolidated investments, net of depreciation and amortization — 2.4 5.5 11.3 — 19.2 Income from consolidated subsidiaries 38.0 63.5 59.3 — (160.8 ) — Operating income (loss) 20.5 48.3 72.1 48.4 (160.8 ) 28.5 Non-operating income (expense) Acquisition-related expenses — — — (2.0 ) — (2.0 ) Interest expense-corporate — (12.1 ) — — — (12.1 ) Interest expense-investment — — (5.4 ) (27.1 ) — (32.5 ) Gain (loss) on sale of real estate — — 0.4 38.0 — 38.4 Other income / (expense) — 1.3 (2.5 ) 1.9 — 0.7 Income (loss) before benefit from income taxes 20.5 37.5 64.6 59.2 (160.8 ) 21.0 (Provision for) benefit from income taxes — 0.5 (1.1 ) 0.1 — (0.5 ) Net income (loss) 20.5 38.0 63.5 59.3 (160.8 ) 20.5 Net (income) loss attributable to the noncontrolling interests — — — (27.4 ) — (27.4 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 20.5 38.0 63.5 31.9 (160.8 ) (6.9 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 20.0 $ 38.0 $ 63.5 $ 31.9 $ (160.8 ) $ (7.4 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 0.9 $ 11.6 $ 31.6 $ 26.6 $ (69.8 ) $ 0.9 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain 21.2 21.2 3.9 19.3 (44.4 ) 21.2 Unrealized loss on marketable securities — — — — — — Amounts reclassified out of AOCI during the period — — — — — — Unrealized currency derivative contracts gain (loss) 8.7 8.7 (2.0 ) 10.7 (17.4 ) 8.7 Total other comprehensive (loss) income for the period $ 29.9 $ 29.9 $ 1.9 $ 30.0 $ (61.8 ) $ 29.9 Comprehensive (loss) income $ 30.8 $ 41.5 $ 33.5 $ 56.6 $ (131.6 ) $ 30.8 Comprehensive loss attributable to noncontrolling interests — — — (24.9 ) — (24.9 ) Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ 30.8 $ 41.5 $ 33.5 $ 31.7 $ (131.6 ) $ 5.9 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ 20.5 $ 38.0 $ 63.5 $ 59.3 $ (160.8 ) $ 20.5 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains 22.2 22.2 4.5 18.2 (44.9 ) 22.2 Unrealized loss on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Unrealized currency derivative contracts (loss) gain (50.3 ) (50.3 ) (0.5 ) (49.6 ) 100.4 (50.3 ) Total other comprehensive income for the period $ (28.0 ) $ (28.0 ) $ 4.0 $ (31.4 ) $ 55.4 $ (28.0 ) Comprehensive (loss) income $ (7.5 ) $ 10.0 $ 67.5 $ 27.9 $ (105.4 ) $ (7.5 ) Comprehensive (income) loss attributable to noncontrolling interests — — — 1.5 — 1.5 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (7.5 ) $ 10.0 $ 67.5 $ 29.4 $ (105.4 ) $ (6.0 ) CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ 2.6 $ (50.6 ) $ 34.5 $ 24.7 $ 11.2 Cash flows from investing activities: Additions to loans — — — — — Collections of loans — — 6.4 — 6.4 Net proceeds from sale of real estate — — — 40.3 40.3 Purchases of and additions to real estate — — (6.0 ) (41.0 ) (47.0 ) Proceeds from settlement of foreign derivative contracts — 2.7 — — 2.7 Purchases of foreign derivative contracts — (0.4 ) — — (0.4 ) Investment in marketable securities — — (0.3 ) — (0.3 ) Distributions from unconsolidated investments — — 16.7 1.2 17.9 Contributions to unconsolidated investments — — (23.1 ) (5.7 ) (28.8 ) (Investments in) distributions from consolidated subsidiaries, net 45.1 16.6 (18.5 ) (43.2 ) — Net cash provided by investing activities 45.1 18.9 (24.8 ) (48.4 ) (9.2 ) Cash flows from financing activities: Borrowings under senior notes payable — — — — — Borrowings under line of credit — — — — — Repayment of line of credit — — — — — Borrowings under investment debt — — — 24.0 24.0 Repayment of investment debt (1.6 ) (54.9 ) (56.5 ) Debt issue costs — (0.1 ) — — (0.1 ) Repurchase and retirement of common stock (29.2 ) — — — (29.2 ) Dividends paid (18.5 ) — — — (18.5 ) Acquisition of KWE shares from noncontrolling interest holders — — — (0.8 ) (0.8 ) Contributions from noncontrolling interests, excluding KWE — — — 8.8 8.8 Distributions to noncontrolling interests — — — (15.9 ) (15.9 ) Net cash (used in) provided by financing activities (47.7 ) (0.1 ) (1.6 ) (38.8 ) (88.2 ) Effect of currency exchange rate changes on cash and cash equivalents — — — 8.8 8.8 Net change in cash and cash equivalents — (31.8 ) 8.1 (53.7 ) (77.4 ) Cash and cash equivalents, beginning of period — 106.0 45.4 734.3 885.7 Cash and cash equivalents, end of period $ — $ 74.2 $ 53.5 $ 680.6 $ 808.3 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided (used in) by operating activities $ (0.2 ) $ (88.5 ) $ 63.7 $ 16.1 $ (8.9 ) Cash flows from investing activities: Additions to loans — — (4.8 ) — (4.8 ) Collections of loans — — — 130.2 130.2 Net proceeds from sale of real estate — — 3.4 104.6 108.0 Purchases of and additions to real estate — — (6.8 ) (95.4 ) (102.2 ) Additions to nonrefundable escrow deposits — — — (1.7 ) (1.7 ) Proceeds from settlement of foreign derivative contracts — 22.6 — — 22.6 Purchases of foreign derivative contracts — (3.4 ) — — (3.4 ) Investment in marketable securities — — (0.9 ) — (0.9 ) Distributions from unconsolidated investments — — 6.5 17.3 23.8 Contributions to unconsolidated investments — (1.0 ) (15.5 ) (6.7 ) (23.2 ) (Investments in) distributions from consolidated subsidiaries, net 27.6 — (52.9 ) 25.3 — Net cash (used in) provided by investing activities 27.6 18.2 (71.0 ) 173.6 148.4 Cash flows from financing activities: Borrowings under line of credit — 50.0 — — 50.0 Borrowings under investment debt — — — 126.2 126.2 Repayment of investment debt — — (4.3 ) (36.8 ) (41.1 ) Debt issue costs — — — (2.2 ) (2.2 ) Repurchase and retirement of common stock (13.1 ) — — — (13.1 ) Dividends paid (14.3 ) — — — (14.3 ) Acquisition of KWE shares from noncontrolling interest holders — — — (41.3 ) (41.3 ) Contributions from noncontrolling interests, excluding KWE — — — 5.5 5.5 Distributions to noncontrolling interests — — — (43.7 ) (43.7 ) Net cash provided by (used in) financing activities (27.4 ) 50.0 (4.3 ) 7.7 26.0 Effect of currency exchange rate changes on cash and cash equivalents — — — 1.0 1.0 Net change in cash and cash equivalents — (20.3 ) (11.6 ) 198.4 166.5 Cash and cash equivalents, beginning of period — 80.2 37.0 614.4 731.6 Cash and cash equivalents, end of period $ — $ 59.9 $ 25.4 $ 812.8 $ 898.1

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On April 24, 2017, the Company issued an announcement (the “Rule 2.7 Announcement”) pursuant to Rule 2.7 of the United Kingdom City Code on Takeovers and Mergers disclosing the terms of a recommended offer by the Company to acquire all of the outstanding shares (other than shares owned by the Company or its subsidiaries or held in treasury) of KWE, in an all stock Proposed Transaction (the “Proposed Transaction”). Under the terms of the Proposed Transaction, if consummated, KWE shareholders would be entitled to receive, for the cancellation of each KWE ordinary share, 0.667 shares of the Company’s common stock by means of a court sanctioned scheme of arrangement between the Company and KWE shareholders under Article 125 of the Jersey Companies Law. The terms of the Proposed Transaction further provide that KWE shareholders will be entitled to receive the next quarterly dividend of 12 pence per KWE share, as well as a dividend after the closing of the Proposed Transaction which will reflect the principle agreed between the Company and KWE that the aggregate dividends payable to KWE shareholders should be equal to the accrued but unpaid ordinary dividends that would otherwise have been payable in respect of KWE shares in respect of the period from April 1, 2017 until the effective date of the Proposed Transaction, with payments from KWE to be reduced, where necessary, by any dividend to which a former KWE shareholder becomes entitled as a stockholder of the Company after the effective date of the Proposed Transaction, but only to the extent of the portion of such dividend which relates to a period prior to the effective date of the Proposed Transaction. KWE has agreed that, if the effective date of the Proposed Transaction falls on or after August 18, 2017, it will not pay the quarterly dividend of 12 pence per KWE share which it would otherwise have intended to pay to KWE shareholders on the register of members on August 18, 2017, but KWE shareholders would instead receive this as part of the closing dividend, subject to any deduction for a Company dividend received to the extent that it relates to the same period. Following the completion of the Proposed Transaction, the Company anticipates that former KWE shareholders would own approximately 36% and existing Company stockholders would own approximately 64% of the outstanding shares of the combined company. In connection with the Proposed Transaction, the Company has announced that its Board of Directors intends to increase the first quarterly dividend payable following the effective date of the Proposed Transaction from $0.17 per share of the Company’s common stock to $0.19 per share of the Company’s common stock. The Proposed Transaction is expected to close in the third quarter of 2017 and is subject to customary closing conditions including, among other things, receipt of the Company’s and KWE’s shareholder approval. 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)	3 Months Ended
	Mar. 31, 2017
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 to a lesser extent, 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.
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 apply to KW Group’s management and leasing fees (including performance fees), commissions, rental and hotel income. Management is evaluating the impact of the five-step model and determined that it is not expected to have a significant impact on the financial statements. ASU 2014-09 will also impact how sales of real estate are reported, which will become subject to ASC Subtopic 610-20 Other Income- Gains and Losses from the Derecognition of Nonfinancial Assets ("Subtopic 610-20") . After review of Subtopic 610-20, management concluded that the new standard is not expected to have a significant impact on the amount, timing or classification of real estate sales in the financial statements or related disclosures based on the Company's current business mix. The new standard will replace most existing revenue recognition in GAAP when it becomes effective for the Company on January 1, 2018. The Company is planning on adopting a modified retrospective transition method when the guidance becomes effective. 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 KW Group'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. In March 2016, the FASB issued ASU 2016-07, Simplifying the Transition to the Equity Method of Accounting , which eliminates the requirement for an investor to retroactively apply the equity method when its increase in ownership interest (or degree of influence) in an investee triggers equity method accounting. ASU 2016-07 is effective for all entities in fiscal years beginning after December 15, 2016. The adoption of this standard did not have a material impact on KW Group's consolidated financial statements. On March 30, 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which is intended to improve the accounting for share-based payment transactions as part of the FASB’s implication initiative. The ASU changes seven aspects of the accounting for share-based payment transactions, including (1) accounting for income taxes; (2) classification of excess tax benefits on the statement of cash flows; (3) forfeitures; (4) minimum statutory tax withholding requirements; (5) classification of employee taxes paid on the statement of cash flows when the employer withholds shares for tax withholding purposes; (6) practical expedient - expected term (nonpublic only); and (7) intrinsic value (nonpublic only). ASU 2016-09 requires excess tax benefits and deficiencies to be recognized as a component of income tax expense rather than equity. An excess tax benefit (windfall) arises when the value of the share-based award on the vesting date is higher than the fair value on the grant date. A tax deficiency (shortfall) arises when the fair value on vesting date is lower than the fair value on the grant date. In addition, ASU 2016-09 eliminated the requirement for excess tax benefits from share-based compensation to reduce current taxes payable prior to being recognized in the financial statement. The inclusion of excess tax benefits and deficiencies as a component of our income tax expense will increase volatility within the Company’s tax provision for income taxes as the amount of excess tax benefits or deficiencies from stock-based compensation awards is from now on dependent upon the Company’s stock price on the date the awards vest. On January 1, 2017, KW Group adopted ASU 2016-09 under the modified retrospective approach and recorded the cumulative impact of the accounting change through a reduction to the accumulated deficit of $9.3 million This amount represents the cumulative excess tax benefits related to share-based compensation as of December 31, 2016 which had not been reflected as a deferred tax asset. As a result of adoption of ASU 2016-09, the excess tax benefits were reclassified to net operating loss carryover, resulting in an increase in our deferred tax asset by $9.3 million as of January 1, 2017. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments , which addresses eight classification issues related to the statement of cash flows: (a) debt prepayment or debt extinguishment costs, (b) settlement of zero-coupon bonds, (c) contingent consideration payments made after a business combination (d) proceeds from the settlement of insurance claims, (e) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, (f) distributions received from equity method investees, (g) beneficial interests in securitization transactions, and (h) separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is required to be adopted for public entities for fiscal years beginning after December 15, 2017. The Company does not expect the ASU to have a significant impact on KW Group's consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business. The ASU clarifies the definition of a business. The three elements of a business (inputs, processes, and outputs) has not changed, however, the amendment provides a framework to assist entities in evaluating whether these elements are present. The amended framework is not expected to materially impact the Company’s financial statements. However, the amendment also includes a provision that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. Therefore, Real estate acquisitions generally will no longer be considered a business and consequently not be accounted for under Topic 805. The Company has evaluated the likely impacts noting that (1) acquisition related costs will no longer be expensed as incurred and (2) regardless of the market value of a property at the acquisition date, acquisition related gains will no longer be recorded. ASU 2017-01 is required to be adopted for public entities for fiscal years beginning after December 15, 2017. The Company does not expect the ASU to have a significant impact on KW Group's consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, which requires an entity to no longer perform a hypothetical purchase price allocation to measure goodwill impairment. Instead, impairment will be measured using the difference between the carrying amount and the fair value of the reporting unit. ASU 2017-04 is required to be adopted for public entities that are SEC filers, for annual and interim periods in fiscal years beginning after December 15, 2019. T he Company does not expect the ASU to have a significant impact on KW Group's consolidated financial statements. The FASB did not issue any other ASUs during the first three months of 2017 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)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 : March 31, December 31, (Dollars in millions) 2017 2016 Land $ 1,386.7 $ 1,383.2 Buildings 4,050.0 4,048.7 Building improvements 424.1 373.5 In-place lease values 386.9 383.1 6,247.7 6,188.5 Less accumulated depreciation and amortization (415.7 ) (374.3 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,832.0 $ 5,814.2
Schedule of Business Acquisitions, by Acquisition	During the three months ended March 31, 2017 , KW Group recognized the following gains on sale of real estate: (Dollars in millions) Gain on sale of real estate Description Consolidated (1) NCI Net of NCI KW One multifamily property in the Western U.S. $ 3.2 $ 0.2 $ 3.0 KWE Four commercial properties in the United Kingdom and one condo unit sale in Spain 2.4 1.8 0.6 KW Group $ 5.6 $ 2.0 $ 3.6 (1) Includes both the sale of real estate as a business, which is recognized through gain on sale of real estate, and the sale of real estate as assets, which is the net of sale of real estate and cost of real estate sold.

Unconsolidated Investments (Tab

Unconsolidated Investments (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 : (Dollars in millions) Multifamily Commercial Residential and Other Total Western U.S. $ 206.2 $ 73.2 $ 254.2 $ 533.6 United Kingdom — 11.0 — 11.0 Spain — — 16.6 16.6 Japan 6.4 — — 6.4 Total $ 212.6 $ 84.2 $ 270.8 $ 567.6 The following table details the Company's unconsolidated investments by investment type and geographic location as of December 31, 2016 : (Dollars in millions) Multifamily Commercial Residential and Other Total Western U.S. $ 192.9 $ 65.3 $ 261.6 $ 519.8 United Kingdom — 13.8 — 13.8 Spain — — 15.9 15.9 Japan 6.1 — — 6.1 Total $ 199.0 $ 79.1 $ 277.5 $ 555.6
Schedule of Joint Venture Cash Distributions by Investment Type and Geographic Location	The following table details cash distributions by investment type and geographic location for the three months ended March 31, 2017 : Multifamily Commercial Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 5.7 $ 4.5 $ 6.9 $ 1.2 $ 2.7 $ 12.2 $ 15.3 $ 17.9 United Kingdom — — 2.3 — — — 2.3 — Total $ 5.7 $ 4.5 $ 9.2 $ 1.2 $ 2.7 $ 12.2 $ 17.6 $ 17.9

Fair Value Measurements and t29

Fair Value Measurements and the Fair Value Option (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 375.8 $ 375.8 Marketable securities 7.9 — — 7.9 Currency derivative contracts — (43.2 ) — (43.2 ) Total $ 7.9 $ (43.2 ) $ 375.8 $ 340.5 The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2016 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 329.4 $ 329.4 Marketable securities 7.5 — — 7.5 Currency derivative contracts — (47.2 ) — (47.2 ) Total $ 7.5 $ (47.2 ) $ 329.4 $ 289.7
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) March 31, 2017 December 31, 2016 FV Option $ 322.7 $ 282.4 Funds 53.1 47.0 Total $ 375.8 $ 329.4
Schedule of Changes in Level 3 Investments	The following table presents changes in Level 3 investments, investments in investment companies and investments in joint ventures that elected the fair value option for the three months ended March 31, 2017 and 2016 : Three Months Ended March 31, (Dollars in millions) 2017 2016 Beginning balance $ 329.4 $ 223.8 Unrealized and realized gains 23.5 17.6 Unrealized and realized losses (2.3 ) — Contributions 20.2 15.9 Distributions (19.3 ) (22.9 ) Other (1) 24.3 0.4 Ending balance $ 375.8 $ 234.8 (1) Primarily related to the application of cash held in escrow for a 1031 exchange for a multifamily property in the Western U.S.
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% - 8.60% 7.00% - 9.75% Retail 5.50% - 9.00% 7.75% - 11.50% Multifamily 4.75% - 7.75% 8.00% - 9.75% Land and condominium units N/A 7.00% - 15.00%
Schedule of Currency Forward Contracts	The table below details the currency derivative contracts KW Group held as of March 31, 2017 and the activity during the three months ended March 31, 2017 : (Dollars in millions) March 31, 2017 Three Months Ended March 31, 2017 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 $ 3.2 $ (0.3 ) $ (0.8 ) $ — $ — EUR (1) GBP € 360.0 — (57.5 ) 8.8 — — EUR (1)(2) GBP — — 2.9 — — GBP USD £ 356.0 12.1 (0.5 ) (2.4 ) — (0.4 ) Yen USD ¥ 757.0 0.1 (0.3 ) (0.2 ) — — Total Outstanding 15.4 (58.6 ) 8.3 — (0.4 ) Settled GBP USD — — 0.2 — 2.7 Total Settled — — 0.2 — 2.7 Total 15.4 (58.6 ) 8.5 — 2.3 Noncontrolling interests — 43.9 (9.0 ) — — Total - Kennedy Wilson share $ 15.4 $ (14.7 ) $ (0.5 ) $ — $ 2.3 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 8. (3) Underlying investment was sold by KW Group. Historical amounts within other comprehensive income were reclassified to the statement of operations at time of sale.

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: (Dollars in millions) March 31, 2017 December 31, 2016 Above-market leases, net of accumulated amortization of $32.1 and $28.1 at March 31, 2017 and December 31, 2016, respectively $ 69.4 $ 72.4 Deferred tax asset, net 40.1 28.4 Other, net of accumulated amortization of $6.1 and $5.4 at March 31, 2017 and December 31, 2016, respectively 37.2 31.6 VAT receivable 24.2 23.2 Goodwill 23.9 23.9 Office furniture and equipment net of accumulated depreciation of $27.2 and $24.4 at March 31, 2017 and December 31, 2016, respectively 23.6 25.4 Hedge assets 15.4 20.2 Prepaid expenses 11.8 10.2 Marketable securities (1) 7.9 7.5 Deposits 1.8 1.8 Other Assets $ 255.3 $ 244.6 (1) The amount above excludes Kennedy Wilson's 29.8 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 $ 353.6 million (cost basis of $ 490.1 million ) based on a per share price of $11.85 at March 31, 2017 .

Investment Debt (Tables)

Investment Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Mortgage Loans and Notes Payable	Investment debt at March 31, 2017 and December 31, 2016 consists of the following: (Dollars in millions) Carrying Amount of Investment Debt as of (1) Investment Debt by Product Type Region March 31, December 31, Mortgage debt Multifamily (1) Western U.S. $ 1,165.0 $ 1,180.8 Commercial Western U.S. 291.2 290.2 Residential, Hotel and Other Western U.S. 49.7 49.8 Commercial (1)(2) Ireland 335.3 331.5 Multifamily (1)(2) Ireland 132.9 131.3 Residential and Other (1)(2) Ireland 33.3 28.0 Hotel Ireland 76.7 75.7 Commercial (2) Spain 85.3 84.4 Commercial (1)(2) United Kingdom 604.6 616.9 Secured investment debt 2,774.0 2,788.6 Unsecured investment debt (1)(2) United Kingdom 1,209.2 1,192.4 Investment debt (excluding loan fees) $ 3,983.2 $ 3,981.0 Unamortized loan fees (24.0 ) (24.9 ) Total Investment debt $ 3,959.2 $ 3,956.1 (1) The investment debt payable balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan premium as of March 31, 2017 and December 31, 2016 was $0.6 million and $0.9 million , respectively. (2) Kennedy Wilson owned approximately 23.65% and 23.60% of the total issued share capital of KWE as of March 31, 2017 and December 31, 2016 , 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 March 31, December 31, Commercial (1)(2) Ireland 257.6 254.7 Commercial (1)(2) Spain 85.3 84.4 Commercial (1)(2) United Kingdom 538.0 551.4 Investment debt $ 880.9 $ 890.5 Unsecured (1)(2) United Kingdom 1,209.2 1,192.4 Investment debt (excluding loan fees) $ 2,090.1 $ 2,082.9 Unamortized loan fees (12.7 ) (13.3 ) Total Investment debt $ 2,077.4 $ 2,069.6 (1) The mortgage loan payable balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and 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 March 31, 2017 and December 31, 2016 was $4.1 million and $4.1 million , respectively. (2) Kennedy Wilson owned approximately 23.65% and 23.60% of the total issued share capital of KWE as of March 31, 2017 and December 31, 2016 , respectively. March 31, 2017 December 31, 2016 (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 (2.1 ) 897.9 900.0 (2.2 ) 897.8 Senior Notes $ 955.0 $ (2.1 ) $ 952.9 $ 955.0 $ (2.2 ) $ 952.8 Unamortized loan fees (15.8 ) (16.2 ) Total Senior Notes $ 937.1 $ 936.6
Schedule of Maturities of Mortgage Loans and Notes Payable	The aggregate maturities of investment debt subsequent to March 31, 2017 are as follows: (Dollars in millions) Aggregate Maturities 2017 $ 68.4 2018 166.6 2019 558.2 2020 256.0 2021 102.7 Thereafter 2,830.7 3,982.6 Debt premium 0.6 Unamortized loan fees (24.0 ) $ 3,959.2

Senior Notes (Tables)

Senior Notes (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Senior Notes	Investment debt at March 31, 2017 and December 31, 2016 consists of the following: (Dollars in millions) Carrying Amount of Investment Debt as of (1) Investment Debt by Product Type Region March 31, December 31, Mortgage debt Multifamily (1) Western U.S. $ 1,165.0 $ 1,180.8 Commercial Western U.S. 291.2 290.2 Residential, Hotel and Other Western U.S. 49.7 49.8 Commercial (1)(2) Ireland 335.3 331.5 Multifamily (1)(2) Ireland 132.9 131.3 Residential and Other (1)(2) Ireland 33.3 28.0 Hotel Ireland 76.7 75.7 Commercial (2) Spain 85.3 84.4 Commercial (1)(2) United Kingdom 604.6 616.9 Secured investment debt 2,774.0 2,788.6 Unsecured investment debt (1)(2) United Kingdom 1,209.2 1,192.4 Investment debt (excluding loan fees) $ 3,983.2 $ 3,981.0 Unamortized loan fees (24.0 ) (24.9 ) Total Investment debt $ 3,959.2 $ 3,956.1 (1) The investment debt payable balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan premium as of March 31, 2017 and December 31, 2016 was $0.6 million and $0.9 million , respectively. (2) Kennedy Wilson owned approximately 23.65% and 23.60% of the total issued share capital of KWE as of March 31, 2017 and December 31, 2016 , 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 March 31, December 31, Commercial (1)(2) Ireland 257.6 254.7 Commercial (1)(2) Spain 85.3 84.4 Commercial (1)(2) United Kingdom 538.0 551.4 Investment debt $ 880.9 $ 890.5 Unsecured (1)(2) United Kingdom 1,209.2 1,192.4 Investment debt (excluding loan fees) $ 2,090.1 $ 2,082.9 Unamortized loan fees (12.7 ) (13.3 ) Total Investment debt $ 2,077.4 $ 2,069.6 (1) The mortgage loan payable balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and 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 March 31, 2017 and December 31, 2016 was $4.1 million and $4.1 million , respectively. (2) Kennedy Wilson owned approximately 23.65% and 23.60% of the total issued share capital of KWE as of March 31, 2017 and December 31, 2016 , respectively. March 31, 2017 December 31, 2016 (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 (2.1 ) 897.9 900.0 (2.2 ) 897.8 Senior Notes $ 955.0 $ (2.1 ) $ 952.9 $ 955.0 $ (2.2 ) $ 952.8 Unamortized loan fees (15.8 ) (16.2 ) Total Senior Notes $ 937.1 $ 936.6

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2017
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: Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 (Dollars in millions) Declared Paid Declared Paid Preferred Stock Series B (1) — — 0.5 0.5 Total Preferred Stock — — 0.5 0.5 Common Stock 19.5 18.5 16.1 13.8 Total (2) $ 19.5 $ 18.5 $ 16.6 $ 14.3 (1) The decrease in Series B dividends during the current year is due to the early conversion of the Series B preferred stock into common shares during the fourth quarter of 2016. (2) The difference between declared and paid is the amount accrued on the consolidated balance sheets.
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in each component of accumulated other comprehensive income (loss), net of taxes: Foreign Currency Translation Currency Derivative Contracts Marketable Securities Total Accumulated Other Comprehensive Income (Dollars in millions) Balance at December 31, 2016 $ (98.6 ) $ 27.5 $ (0.1 ) $ (71.2 ) Unrealized gains, arising during the period 24.8 8.5 0.1 33.4 Noncontrolling interest (15.8 ) (9.0 ) — (24.8 ) Taxes on unrealized gains, arising during the period (3.6 ) 0.2 (0.1 ) (3.5 ) Balance at March 31, 2017 $ (93.2 ) $ 27.2 $ (0.1 ) $ (66.1 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
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 months ended March 31, 2017 and 2016 : Three Months Ended March 31, (Dollars in millions, except share and per share amounts) 2017 2016 Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 0.8 $ (7.4 ) Dividends allocated to participating securities (0.3 ) (0.5 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities 0.5 (7.9 ) Dividends declared on common shares (19.3 ) (15.6 ) Undistributed losses attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ (18.8 ) $ (23.5 ) Distributed earnings per share $ 0.17 $ 0.14 Undistributed losses per share (0.17 ) (0.21 ) Loss per basic — (0.07 ) Loss per diluted $ — $ (0.07 ) Weighted average shares outstanding for basic 112,167,447 109,214,633 Weighted average shares outstanding for diluted (1) 112,167,447 109,214,633 Dividends declared per common share $ 0.17 $ 0.14 (1) For the three months ended March 31, 2017 , a total of 1,111,243 potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive. For the three months ended March 31, 2016 , a total of 8,381,629 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)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize income activity by segment and corporate for the three months ended March 31, 2017 and 2016 and balance sheet data as of March 31, 2017 and December 31, 2016 : Three Months Ended March 31, (Dollars in millions) 2017 2016 Investments Rental $ 124.3 $ 119.9 Hotel 29.5 29.1 Sale of real estate 0.8 1.9 Loan purchases, loan originations and other 2.1 2.1 Total revenue 156.7 153.0 Operating expenses (78.4 ) (75.2 ) Depreciation and amortization (49.7 ) (48.3 ) Income from unconsolidated investments 21.6 18.1 Operating income 50.2 47.6 Gain on sale of real estate 5.4 38.4 Acquisition-related expenses (0.3 ) (2.0 ) Interest expense - investments (34.4 ) (32.5 ) Other 0.8 0.7 Income before provision for income taxes 21.7 52.2 Provision for income taxes (1.0 ) (1.0 ) Net income 20.7 51.2 Net income attributable to the noncontrolling interests (0.1 ) (27.4 ) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 20.6 $ 23.8 Three Months Ended March 31, (Dollars in millions) 2017 2016 Investment Management and Real Estate Services Investment management, property services and research fees (includes $9.7 and $11.0 of related party fees, respectively) $ 17.5 $ 19.1 Total revenue 17.5 19.1 Operating expenses (13.3 ) (15.9 ) Income from unconsolidated investments 0.8 1.2 Operating income 5.0 4.4 Net income attributable to the noncontrolling interests — — Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 5.0 $ 4.4 Three Months Ended March 31, (Dollars in millions) 2017 2016 Corporate Operating expenses $ (14.1 ) $ (23.5 ) Operating loss (14.1 ) (23.5 ) Interest expense-corporate (15.6 ) (12.1 ) Other (0.2 ) — Loss before provision for income taxes (29.9 ) (35.6 ) (Provision for) benefit from income taxes 5.1 0.5 Net loss (24.8 ) (35.1 ) Preferred dividends and accretion of preferred stock issuance costs — (0.5 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (24.8 ) $ (35.6 ) Three Months Ended March 31, (Dollars in millions) 2017 2016 Consolidated Rental $ 124.3 $ 119.9 Hotel 29.5 29.1 Sale of real estate 0.8 1.9 Investment management, property services and research fees (includes $9.7 and $11.0 of related party fees) 17.5 19.1 Loans and other 2.1 2.1 Total revenue 174.2 172.1 Operating expenses (105.8 ) (114.5 ) Depreciation and amortization (49.7 ) (48.3 ) Total operating expenses (155.5 ) (162.8 ) Income from unconsolidated investments 22.5 19.2 Operating income 41.2 28.5 Gain on sale of real estate 5.4 38.4 Acquisition-related expenses (0.3 ) (2.0 ) Interest expense - investment (34.4 ) (32.5 ) Interest expense - corporate (15.6 ) (12.1 ) Other 0.5 0.7 (Loss) income before benefit from income taxes (3.2 ) 21.0 Provision for income taxes 4.1 (0.5 ) Net (loss) income 0.9 20.5 Net income attributable to the noncontrolling interests (0.1 ) (27.4 ) Preferred dividends and accretion of preferred stock issuance costs — (0.5 ) Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 0.8 $ (7.4 ) (Dollars in millions) March 31, 2017 December 31, 2016 Total Assets Investments $ 7,410.5 $ 7,375.5 Investment management and real estate services 88.0 78.1 Corporate 127.5 205.5 Total assets $ 7,626.0 $ 7,659.1

Guarantor and Non-Guarantor F36

Guarantor and Non-Guarantor Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2017
Guarantor and Nonguarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 74.2 $ 53.5 $ 40.3 $ — $ 168.0 Cash held by consolidated investments — — — 640.3 — 640.3 Accounts receivable — — 47.0 33.2 — 80.2 Loan purchases and originations — 0.3 5.7 76.6 — 82.6 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,494.7 4,337.3 — 5,832.0 Unconsolidated investments — 19.3 370.4 177.9 — 567.6 Investments in and advances to consolidated subsidiaries 1,044.5 2,048.6 1,151.9 — (4,245.0 ) — Other assets — 2.6 46.0 206.7 — 255.3 Total assets $ 1,044.5 $ 2,145.0 $ 3,169.2 $ 5,512.3 $ (4,245.0 ) $ 7,626.0 Liabilities and equity Liabilities Accounts payable $ — $ 0.3 $ 1.8 $ 12.6 $ — $ 14.7 Accrued expenses and other liabilities 19.5 163.1 183.7 11.5 — 377.8 Investment debt — — 935.1 3,024.1 — 3,959.2 Senior notes payable — 937.1 — — — 937.1 Line of credit — — — — — — Total liabilities 19.5 1,100.5 1,120.6 3,048.2 — 5,288.8 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,025.0 1,044.5 2,048.6 1,151.9 (4,245.0 ) 1,025.0 Noncontrolling interests — — — 1,312.2 — 1,312.2 Total equity 1,025.0 1,044.5 2,048.6 2,464.1 (4,245.0 ) 2,337.2 Total liabilities and equity $ 1,044.5 $ 2,145.0 $ 3,169.2 $ 5,512.3 $ (4,245.0 ) $ 7,626.0 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 106.0 $ 45.4 $ 108.8 $ — $ 260.2 Cash held by consolidated investments — — — 625.5 — 625.5 Accounts receivable — — 37.5 33.8 — 71.3 Loan purchases and originations — 0.3 12.1 75.3 — 87.7 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,482.5 4,331.7 — 5,814.2 Unconsolidated investments — 18.8 380.0 156.8 — 555.6 Investments in and advances to consolidated subsidiaries 1,063.8 2,073.2 1,171.6 — (4,308.6 ) — Other assets — 2.6 39.7 202.3 — 244.6 Total assets $ 1,063.8 $ 2,200.9 $ 3,168.8 $ 5,534.2 $ (4,308.6 ) $ 7,659.1 Liabilities Accounts payable $ — $ 0.5 $ 1.6 $ 9.1 $ — 11.2 Accrued expense and other liabilities 15.8 200.0 157.2 39.1 — 412.1 Senior notes payable — 936.6 — — — 936.6 Investment debt — — 936.8 3,019.3 — 3,956.1 Total liabilities 15.8 1,137.1 1,095.6 3,067.5 — 5,316.0 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,048.0 1,063.8 2,073.2 1,171.6 (4,308.6 ) 1,048.0 Noncontrolling interests — — — 1,295.1 — 1,295.1 Total equity 1,048.0 1,063.8 2,073.2 2,466.7 (4,308.6 ) 2,343.1 Total liabilities and equity $ 1,063.8 $ 2,200.9 $ 3,168.8 $ 5,534.2 $ (4,308.6 ) $ 7,659.1
Consolidating Statement of Operations	CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 33.1 $ 91.2 $ — 124.3 Hotel — — — 29.5 — 29.5 Sale of real estate — — — 0.8 — 0.8 Investment management, property services and research fees — — 15.5 2.0 — 17.5 Loan purchases, loan originations and other — — 0.3 1.8 — 2.1 Total revenue — — 48.9 125.3 — 174.2 Operating expenses Rental operating — — 13.2 22.8 — 36.0 Hotel operating — — — 24.4 — 24.4 Cost of real estate sold — — — 0.7 — 0.7 Commission and marketing — — 1.9 0.1 — 2.0 Compensation and related 10.7 7.2 12.7 2.1 — 32.7 General and administrative — 2.9 4.5 2.6 — 10.0 Depreciation and amortization — 0.4 11.6 37.7 — 49.7 Total operating expenses 10.7 10.5 43.9 90.4 — 155.5 Income from unconsolidated subsidiaries — 1.2 6.9 14.4 — 22.5 Income from consolidated subsidiaries 11.6 31.6 26.6 — (69.8 ) — Operating income (loss) 0.9 22.3 38.5 49.3 (69.8 ) 41.2 Non-operating income (expense) Acquisition-related gains — — — — — — Acquisition-related expenses — — — (0.3 ) — (0.3 ) Interest expense-corporate — (15.6 ) — — — (15.6 ) Interest expense-investment — — (8.4 ) (26.0 ) — (34.4 ) Gain on sale of real estate — — — 5.4 — 5.4 Other income / (expense) — (0.2 ) — 0.7 — 0.5 Income (loss) before benefit from income taxes 0.9 6.5 30.1 29.1 (69.8 ) (3.2 ) (Provision for) benefit from income taxes — 5.1 1.5 (2.5 ) — 4.1 Net income (loss) 0.9 11.6 31.6 26.6 (69.8 ) 0.9 Net (income) loss attributable to the noncontrolling interests — — — (0.1 ) — (0.1 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 0.9 11.6 31.6 26.5 (69.8 ) 0.8 Preferred dividends and accretion of preferred stock issuance costs — — — — — — Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 0.9 $ 11.6 $ 31.6 $ 26.5 $ (69.8 ) $ 0.8 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 24.9 $ 95.0 $ — $ 119.9 Hotel — — — 29.1 — 29.1 Sale of real estate — — — 1.9 — 1.9 Investment management, property services, and research fees — — 18.2 0.9 — 19.1 Loan purchases, loan originations and other — — 0.3 1.8 — 2.1 Total revenue — — 43.4 128.7 — 172.1 Operating expenses Rental operating — — 9.9 21.1 — 31.0 Hotel operating — — — 24.5 — 24.5 Cost of real estate sold — — — 1.4 — 1.4 Commission and marketing — — 1.7 0.1 — 1.8 Compensation and related 17.5 13.9 12.2 2.1 — 45.7 General and administrative — 3.4 3.8 2.9 — 10.1 Depreciation and amortization — 0.3 8.5 39.5 — 48.3 Total operating expenses 17.5 17.6 36.1 91.6 — 162.8 Income from unconsolidated investments, net of depreciation and amortization — 2.4 5.5 11.3 — 19.2 Income from consolidated subsidiaries 38.0 63.5 59.3 — (160.8 ) — Operating income (loss) 20.5 48.3 72.1 48.4 (160.8 ) 28.5 Non-operating income (expense) Acquisition-related expenses — — — (2.0 ) — (2.0 ) Interest expense-corporate — (12.1 ) — — — (12.1 ) Interest expense-investment — — (5.4 ) (27.1 ) — (32.5 ) Gain (loss) on sale of real estate — — 0.4 38.0 — 38.4 Other income / (expense) — 1.3 (2.5 ) 1.9 — 0.7 Income (loss) before benefit from income taxes 20.5 37.5 64.6 59.2 (160.8 ) 21.0 (Provision for) benefit from income taxes — 0.5 (1.1 ) 0.1 — (0.5 ) Net income (loss) 20.5 38.0 63.5 59.3 (160.8 ) 20.5 Net (income) loss attributable to the noncontrolling interests — — — (27.4 ) — (27.4 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. 20.5 38.0 63.5 31.9 (160.8 ) (6.9 ) Preferred dividends and accretion of preferred stock issuance costs (0.5 ) — — — — (0.5 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 20.0 $ 38.0 $ 63.5 $ 31.9 $ (160.8 ) $ (7.4 )
Consolidated Statement of Comprehensive Income	CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net (loss) income $ 0.9 $ 11.6 $ 31.6 $ 26.6 $ (69.8 ) $ 0.9 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation (loss) gain 21.2 21.2 3.9 19.3 (44.4 ) 21.2 Unrealized loss on marketable securities — — — — — — Amounts reclassified out of AOCI during the period — — — — — — Unrealized currency derivative contracts gain (loss) 8.7 8.7 (2.0 ) 10.7 (17.4 ) 8.7 Total other comprehensive (loss) income for the period $ 29.9 $ 29.9 $ 1.9 $ 30.0 $ (61.8 ) $ 29.9 Comprehensive (loss) income $ 30.8 $ 41.5 $ 33.5 $ 56.6 $ (131.6 ) $ 30.8 Comprehensive loss attributable to noncontrolling interests — — — (24.9 ) — (24.9 ) Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ 30.8 $ 41.5 $ 33.5 $ 31.7 $ (131.6 ) $ 5.9 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income (loss) $ 20.5 $ 38.0 $ 63.5 $ 59.3 $ (160.8 ) $ 20.5 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation (loss) gains 22.2 22.2 4.5 18.2 (44.9 ) 22.2 Unrealized loss on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Unrealized currency derivative contracts (loss) gain (50.3 ) (50.3 ) (0.5 ) (49.6 ) 100.4 (50.3 ) Total other comprehensive income for the period $ (28.0 ) $ (28.0 ) $ 4.0 $ (31.4 ) $ 55.4 $ (28.0 ) Comprehensive (loss) income $ (7.5 ) $ 10.0 $ 67.5 $ 27.9 $ (105.4 ) $ (7.5 ) Comprehensive (income) loss attributable to noncontrolling interests — — — 1.5 — 1.5 Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc. $ (7.5 ) $ 10.0 $ 67.5 $ 29.4 $ (105.4 ) $ (6.0 )
Condensed Consolidated Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ 2.6 $ (50.6 ) $ 34.5 $ 24.7 $ 11.2 Cash flows from investing activities: Additions to loans — — — — — Collections of loans — — 6.4 — 6.4 Net proceeds from sale of real estate — — — 40.3 40.3 Purchases of and additions to real estate — — (6.0 ) (41.0 ) (47.0 ) Proceeds from settlement of foreign derivative contracts — 2.7 — — 2.7 Purchases of foreign derivative contracts — (0.4 ) — — (0.4 ) Investment in marketable securities — — (0.3 ) — (0.3 ) Distributions from unconsolidated investments — — 16.7 1.2 17.9 Contributions to unconsolidated investments — — (23.1 ) (5.7 ) (28.8 ) (Investments in) distributions from consolidated subsidiaries, net 45.1 16.6 (18.5 ) (43.2 ) — Net cash provided by investing activities 45.1 18.9 (24.8 ) (48.4 ) (9.2 ) Cash flows from financing activities: Borrowings under senior notes payable — — — — — Borrowings under line of credit — — — — — Repayment of line of credit — — — — — Borrowings under investment debt — — — 24.0 24.0 Repayment of investment debt (1.6 ) (54.9 ) (56.5 ) Debt issue costs — (0.1 ) — — (0.1 ) Repurchase and retirement of common stock (29.2 ) — — — (29.2 ) Dividends paid (18.5 ) — — — (18.5 ) Acquisition of KWE shares from noncontrolling interest holders — — — (0.8 ) (0.8 ) Contributions from noncontrolling interests, excluding KWE — — — 8.8 8.8 Distributions to noncontrolling interests — — — (15.9 ) (15.9 ) Net cash (used in) provided by financing activities (47.7 ) (0.1 ) (1.6 ) (38.8 ) (88.2 ) Effect of currency exchange rate changes on cash and cash equivalents — — — 8.8 8.8 Net change in cash and cash equivalents — (31.8 ) 8.1 (53.7 ) (77.4 ) Cash and cash equivalents, beginning of period — 106.0 45.4 734.3 885.7 Cash and cash equivalents, end of period $ — $ 74.2 $ 53.5 $ 680.6 $ 808.3 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2016 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided (used in) by operating activities $ (0.2 ) $ (88.5 ) $ 63.7 $ 16.1 $ (8.9 ) Cash flows from investing activities: Additions to loans — — (4.8 ) — (4.8 ) Collections of loans — — — 130.2 130.2 Net proceeds from sale of real estate — — 3.4 104.6 108.0 Purchases of and additions to real estate — — (6.8 ) (95.4 ) (102.2 ) Additions to nonrefundable escrow deposits — — — (1.7 ) (1.7 ) Proceeds from settlement of foreign derivative contracts — 22.6 — — 22.6 Purchases of foreign derivative contracts — (3.4 ) — — (3.4 ) Investment in marketable securities — — (0.9 ) — (0.9 ) Distributions from unconsolidated investments — — 6.5 17.3 23.8 Contributions to unconsolidated investments — (1.0 ) (15.5 ) (6.7 ) (23.2 ) (Investments in) distributions from consolidated subsidiaries, net 27.6 — (52.9 ) 25.3 — Net cash (used in) provided by investing activities 27.6 18.2 (71.0 ) 173.6 148.4 Cash flows from financing activities: Borrowings under line of credit — 50.0 — — 50.0 Borrowings under investment debt — — — 126.2 126.2 Repayment of investment debt — — (4.3 ) (36.8 ) (41.1 ) Debt issue costs — — — (2.2 ) (2.2 ) Repurchase and retirement of common stock (13.1 ) — — — (13.1 ) Dividends paid (14.3 ) — — — (14.3 ) Acquisition of KWE shares from noncontrolling interest holders — — — (41.3 ) (41.3 ) Contributions from noncontrolling interests, excluding KWE — — — 5.5 5.5 Distributions to noncontrolling interests — — — (43.7 ) (43.7 ) Net cash provided by (used in) financing activities (27.4 ) 50.0 (4.3 ) 7.7 26.0 Effect of currency exchange rate changes on cash and cash equivalents — — — 1.0 1.0 Net change in cash and cash equivalents — (20.3 ) (11.6 ) 198.4 166.5 Cash and cash equivalents, beginning of period — 80.2 37.0 614.4 731.6 Cash and cash equivalents, end of period $ — $ 59.9 $ 25.4 $ 812.8 $ 898.1

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions		Mar. 31, 2017USD ($)property	Dec. 31, 2016USD ($)
Noncontrolling Interest [Line Items]
Assets	[1]	$ 7,626	$ 7,659.1
Properties, Loans and Servicing Platform in Europe [Member] | Europe [Member]
Noncontrolling Interest [Line Items]
Assets		867.4
KWE [Member]
Noncontrolling Interest [Line Items]
Investments in subsidiaries		$ 490.1
Ownership percentage by parent		23.65%	23.60%
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		63.00%
Equity in consolidated investments		$ 274.7
[1]	The assets and liabilities as of March 31, 2017 include $4.6 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.7 billion) and $2.7 billion (including investment debt of $2.4 billion), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2016 include $4.5 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.6 billion) and $2.7 billion (including investment debt of $2.4 billion), 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) - USD ($) $ in Millions		111 Months Ended
		Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of new accounting standard adoption	[1]		$ 9.3
Increase in deferred tax asset		$ 40.1	28.4
Negative fund performance that would cause reversal of performance fees		33.8
Accrued performance fees		6.5		$ 6.4
Noncontrolling interests		$ 1,312.2	1,295.1
Minimum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of investments hedged		50.00%
Maximum [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of investments hedged		100.00%
KWE [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Noncontrolling interests		$ 1,100
Accounting Standards Update 2016-09 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Increase in deferred tax asset			9.3
Retained Earnings [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of new accounting standard adoption	[1]		9.3
Retained Earnings [Member] | Accounting Standards Update 2016-09 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effect of new accounting standard adoption			$ 9.3
[1]	See Note 2 for further discussion.

Loan Purchases and Originatio39

Loan Purchases and Originations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Loan purchases and originations	$ 82.6		$ 87.7
Interest income on loans	2.1	$ 2.1
Notes Receivable [Member]
Business Acquisition [Line Items]
Loan purchases and originations	82.6		$ 87.7
Office Property in San Diego, CA [Member]
Business Acquisition [Line Items]
Proceeds from Collection of Loans Receivable	$ 6.4

Real Estate and In-Place Leas40

Real Estate and In-Place Lease Value - Schedule of Investments in Consolidated Properties (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Real Estate [Abstract]
Land	$ 1,386.7	$ 1,383.2
Buildings	4,050	4,048.7
Building improvements	424.1	373.5
In-place lease values	386.9	383.1
Real estate, gross	6,247.7	6,188.5
Less accumulated depreciation and amortization	(415.7)	(374.3)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	$ 5,832	$ 5,814.2

Real Estate and In-Place Leas41

Real Estate and In-Place Lease Value - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Business Acquisition [Line Items]
Guarantor obligations, maximum exposure, percentage of property level debt	1.00%
Performance Guarantee [Member] | Loans Payable [Member]
Business Acquisition [Line Items]
Guarantor obligations, maximum exposure	$ 50.4
Leases, Acquired-in-Place [Member]
Business Acquisition [Line Items]
Acquired in-place lease estimated useful life	10 years 7 months 6 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 Gains on Real Estate (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)property	Mar. 31, 2016USD ($)
Real Estate [Line Items]
Gain on sale of real estate	$ 5.6	$ 38.9
Gain on sale of properties, attributable to noncontrolling interest	2
Gain on sale of properties, attributable to parent	3.6
KW [Member]
Real Estate [Line Items]
Gain on sale of real estate	3.2
Gain on sale of properties, attributable to noncontrolling interest	0.2
Gain on sale of properties, attributable to parent	3
KWE [Member]
Real Estate [Line Items]
Gain on sale of real estate	2.4
Gain on sale of properties, attributable to noncontrolling interest	1.8
Gain on sale of properties, attributable to parent	$ 0.6
Multifamily [Member] | KW [Member] | Western United States [Member]
Real Estate [Line Items]
Number of commercial real estate properties sold | property	1
Commercial [Member] | KWE [Member] | United Kingdom [Member]
Real Estate [Line Items]
Number of commercial real estate properties sold | property	4
Condominium Unit [Member] | KW [Member] | Spain [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
	Mar. 31, 2017USD ($)joint_venture	Mar. 31, 2016USD ($)	Jun. 30, 2015USD ($)limited_partnership	Dec. 31, 2016USD ($)
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	$ 28.8	$ 23.2
Equity method investment distribution received	17.6
Payments to acquire new equity method investments	7.7
Contributions to existing joint ventures	21.1
Proceeds from equity method investments	$ 35.5
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	$ 19.4
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	95.5			$ 84.2
Gain on fair value through equity income	12.4
Equity method investment distribution received	$ 1.8
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	Mar. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 567.6	$ 555.6
Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	533.6	519.8
United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	11	13.8
Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	16.6	15.9
Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	6.4	6.1
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	212.6	199
Multifamily [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	206.2	192.9
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
Multifamily [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	6.4	6.1
Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	84.2	79.1
Commercial [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	73.2	65.3
Commercial [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	11	13.8
Commercial [Member] | Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Commercial [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	270.8	277.5
Residential and Other [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	254.2	261.6
Residential and Other [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Residential and Other [Member] | Spain [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	16.6	15.9
Residential and Other [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 0	$ 0

Unconsolidated Investments - C

Unconsolidated Investments - Cash Distributions by Investment Type and Location (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Schedule of Equity Method Investments [Line Items]
Operating	$ 17.6
Investing	17.9	$ 23.8
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	5.7
Investing	4.5
Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	9.2
Investing	1.2
Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	2.7
Investing	12.2
Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Operating	15.3
Investing	17.9
Western U.S. [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	5.7
Investing	4.5
Western U.S. [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	6.9
Investing	1.2
Western U.S. [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	2.7
Investing	12.2
United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Operating	2.3
Investing	0
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	2.3
Investing	0
United Kingdom [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	$ 0

Fair Value Measurements and t46

Fair Value Measurements and the Fair Value Option - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	$ 375.8	$ 329.4
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	375.8	329.4
Marketable securities	7.9	7.5
Total	340.5	289.7
Recurring [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Currency derivative contracts	(43.2)	(47.2)
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	0	0
Marketable securities	7.9	7.5
Total	7.9	7.5
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	(43.2)	(47.2)
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	(43.2)	(47.2)
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	375.8	329.4
Marketable securities	0	0
Total	375.8	329.4
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 t47

Fair Value Measurements and the Fair Value Option - Marketable Securities, Narrative (Details) $ / shares in Units, £ in Millions, shares in Millions, $ in Millions	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2017GBP (£)shares	Dec. 31, 2016USD ($)
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	29.8	29.8
Share price (in dollars per share) | $ / shares	$ 11.85
Foreign Exchange Contract [Member] | KWE [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount | £		£ 356
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	$ 353.6
Investment cost basis	$ 490.1

Fair Value Measurements and t48

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments, Narrative (Details) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)investment	Dec. 31, 2016USD ($)
Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value option	$ 322.7	$ 282.4
Funds	53.1	$ 47
Unfunded capital commitments	19.4
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	$ 17.8
Equity Method Investments [Member] | Funds [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Number of unconsolidated investments with fair value option election | investment	14

Fair Value Measurements and t49

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments (Details) - Equity Method Investments [Member] - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
FV Option	$ 322.7	$ 282.4
Funds	53.1	47
Total	$ 375.8	$ 329.4

Fair Value Measurements and t50

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
	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 329.4	$ 223.8
Unrealized and realized gains	23.5	17.6
Unrealized and realized losses	(2.3)	0
Contributions	20.2	15.9
Distributions	(19.3)	(22.9)
Other	24.3	0.4
Ending balance	$ 375.8	$ 234.8

Fair Value Measurements and t51

Fair Value Measurements and the Fair Value Option - Schedule of Significant Inputs (Details)	3 Months Ended
	Mar. 31, 2017
Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Entity credit risk percentage	1.32%
Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Entity credit risk percentage	4.47%
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	7.00%
Office [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	8.60%
Discount Rates	9.75%
Retail [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	5.50%
Discount Rates	7.75%
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	11.50%
Multifamily [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Capitalization Rates	4.75%
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	7.00%
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 t52

Fair Value Measurements and the Fair Value Option - Derivatives Financial Instruments (Details) € in Millions, ¥ in Millions, £ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2017GBP (£)	Mar. 31, 2017JPY (¥)	Mar. 31, 2017EUR (€)	Dec. 31, 2016USD ($)
Derivative [Line Items]
Hedge Asset	$ 15.4				$ 20.2
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 | £		£ 356
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	3.2
Hedge Liability	(0.3)
Change in Unrealized Gains (Losses)	(0.8)
Realized Gains (Losses)	0
Cash Received (Paid)
Cash Paid	0
Level 2 [Member] | Foreign Exchange Contract, Four [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	12.1
Hedge Liability	(0.5)
Change in Unrealized Gains (Losses)	(2.4)
Realized Gains (Losses)	0
Cash Received (Paid)
Cash Paid	(0.4)
Level 2 [Member] | Foreign Exchange Contract, Five [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0.1
Hedge Liability	(0.3)
Change in Unrealized Gains (Losses)	(0.2)
Realized Gains (Losses)	0
Cash Received (Paid)
Cash Paid	0
Level 2 [Member] | Derivatives Outstanding [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	15.4
Hedge Liability	(58.6)
Change in Unrealized Gains (Losses)	8.3
Realized Gains (Losses)	0
Cash Received (Paid)
Cash Paid	(0.4)
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)	0.2
Realized Gains (Losses)	0
Cash Received (Paid)
Cash Received	2.7
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)	0.2
Realized Gains (Losses)	0
Cash Received (Paid)
Cash Received	2.7
Level 2 [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	15.4
Hedge Liability	(58.6)
Change in Unrealized Gains (Losses)	8.5
Realized Gains (Losses)	0
Cash Received (Paid)
Total	2.3
Level 2 [Member] | KWE [Member] | Foreign Exchange Contract, Two [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	(57.5)
Change in Unrealized Gains (Losses)	8.8
Realized Gains (Losses)	0
Cash Received (Paid)
Cash 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)	2.9
Realized Gains (Losses)	0
Cash Received (Paid)
Cash 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	43.9
Change in Unrealized Gains (Losses)	(9)
Realized Gains (Losses)	0
Cash Received (Paid)
Total	0
Net of NCI [Member] | Level 2 [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Hedge Asset	15.4
Hedge Liability	(14.7)
Change in Unrealized Gains (Losses)	(0.5)
Realized Gains (Losses)	0
Cash Received (Paid)
Total	$ 2.3

Fair Value Measurements and t53

Fair Value Measurements and the Fair Value Option - Fair Value of Financial Instruments, Narrative (Details) - USD ($) $ in Billions	Mar. 31, 2017	Dec. 31, 2016
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	$ 4.9	$ 4.9
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	$ 5

Other Assets (Details)

Other Assets (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Other Assets [Abstract]
Deferred tax asset, net	$ 40.1	$ 28.4
Other, net of accumulated amortization of $6.1 and $5.4 at March 31, 2017 and December 31, 2016, respectively	37.2	31.6
VAT receivable	24.2	23.2
Goodwill	23.9	23.9
Hedge assets	15.4	20.2
Prepaid expenses	11.8	10.2
Marketable securities	7.9	7.5
Deposits	1.8	1.8
Other Assets	255.3	244.6
Accumulated amortization, other	6.1	5.4
Investments in and advances to consolidated subsidiaries	$ 0	0
KWE [Member]
Other Assets [Abstract]
Shares in KWE (in shares)	29.8
Share price (in dollars per share)	$ 11.85
KWE [Member] | Equity Securities [Member]
Other Assets [Abstract]
Investments in and advances to consolidated subsidiaries	$ 353.6
Investment cost basis	490.1
Furniture and Fixtures [Member]
Other Assets [Abstract]
Office furniture and equipment net of accumulated depreciation of $27.2 and $24.4 at March 31, 2017 and December 31, 2016, respectively	23.6	25.4
Accumulated amortization, office furniture and equipment	27.2	24.4
Above Market Leases [Member]
Other Assets [Abstract]
Above-market leases, net of accumulated amortization of $32.1 and $28.1 at March 31, 2017 and December 31, 2016, respectively	69.4	72.4
Accumulated amortization, above-market leases	$ 32.1	$ 28.1

Investment Debt - Mortgage Loa

Investment Debt - Mortgage Loans (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
KWE [Member]
Debt Instrument [Line Items]
Ownership percentage by parent	23.65%	23.60%
KWE [Member]
Debt Instrument [Line Items]
Unamortized premium (discount)	$ (4.1)	$ (4.1)
Investment Debt [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	3,983.2	3,981
Unamortized loan fees	(24)	(24.9)
Total debt	3,959.2	3,956.1
Investment Debt [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	2,090.1	2,082.9
Unamortized loan fees	(12.7)	(13.3)
Total debt	2,077.4	2,069.6
Secured Investment Debt [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	2,774	2,788.6
Unamortized premium (discount)	(0.6)	0.9
Secured Investment Debt [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	880.9	890.5
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)	1,165	1,180.8
Secured Investment Debt [Member] | Mortgage Loans Secured by Multi-Family Properties [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	132.9	131.3
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Western U.S. [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	291.2	290.2
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	335.3	331.5
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Ireland [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	257.6	254.7
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Spain [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	85.3	84.4
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | Spain [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	85.3	84.4
Secured Investment Debt [Member] | Mortgage Loans Secured by Commercial Properties [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	604.6	616.9
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)	538	551.4
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)	49.7	49.8
Secured Investment Debt [Member] | Mortgage Loans Secured by Residential and Other [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	33.3	28
Secured Investment Debt [Member] | Mortgage Loans Secured by Hotel [Member] | Ireland [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	76.7	75.7
Unsecured Debt [Member] | Mortgage Loans, Unsecured [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	1,209.2	1,192.4
Unsecured Debt [Member] | Mortgage Loans, Unsecured [Member] | United Kingdom [Member] | KWE [Member]
Debt Instrument [Line Items]
Investment debt (excluding loan fees)	$ 1,209.2	$ 1,192.4

Investment Debt - Narrative (D

Investment Debt - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
	Aug. 31, 2014USD ($)	Mar. 31, 2017USD ($)investment	Sep. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2016EUR (€)	Mar. 31, 2017GBP (£)	Dec. 31, 2016	Sep. 30, 2016GBP (£)	Dec. 31, 2015USD ($)	Dec. 31, 2015GBP (£)	Jun. 30, 2015USD ($)	Jun. 30, 2015GBP (£)	Aug. 31, 2014GBP (£)
Debt Instrument [Line Items]
Unrealized foreign currency translation (loss) gain		$ 21.2		$ 22.2
Number of investments partially financed with mortgages | investment		1
Euro Member Countries, Euro [Member]
Debt Instrument [Line Items]
Unrealized foreign currency translation (loss) gain		$ 2.9
Secured Investment Debt [Member]
Debt Instrument [Line Items]
Weighted-average interest rate of investment debt		3.34%					3.34%	3.33%
Percent of property level debt with fixed rate		75.00%					75.00%	75.00%
Percent of property level debt with floating rate and interest caps		15.00%					15.00%	15.00%
Percent of property level debt with floating rate, without interest caps		10.00%					10.00%	10.00%
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	$ 282.4													£ 225,000,000
Remaining borrowing capacity		$ 282.4					£ 225,000,000
Secured Investment Debt [Member] | KWE [Member] | United Kingdom [Member] | Mortgage Loans, Unsecured [Member]
Debt Instrument [Line Items]
Debt face value			$ 251						£ 200,000,000			$ 376.5	£ 300,000,000
Stated interest rate			3.95%						3.95%			3.95%	3.95%
Effective interest rate			3.35%						3.35%
Percentage of proceeds converted to Euros with swaps			50.00%
Maximum percentage of total assets		60.00%					60.00%
Maximum ratio of consolidated secured indebtedness to total assets		50.00%					50.00%
Interest coverage ratio		1.50					1.50
Maximum ratio of unencumbered assets to unsecured indebtedness		125.00%					125.00%
Secured Investment Debt [Member] | KWE [Member] | United Kingdom [Member] | Euro Medium Term Note [Member]
Debt Instrument [Line Items]
Debt face value										$ 2,500	£ 2,000,000,000
Proceeds from issuance of debt					$ 585.9	€ 550,000,000
Long-term debt					$ 581.7
Annual fixed coupon rate					3.25%

Investment Debt - Schedule of

Investment Debt - Schedule of Maturities (Details) - Investment Debt [Member] - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2,017	$ 68.4
2,018	166.6
2,019	558.2
2,020	256
2,021	102.7
Thereafter	2,830.7
Long-term debt, gross	3,982.6
Debt premium	0.6
Unamortized loan fees	(24)	$ (24.9)
Total debt	$ 3,959.2	$ 3,956.1

Senior Notes - Schedule of Sen

Senior Notes - Schedule of Senior Notes (Details) - Senior Notes [Member] - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Aug. 31, 2016
Debt Instrument [Line Items]
Face Value	$ 955,000,000	$ 955,000,000
Unamortized Net Premium/(Discount)	(2,100,000)	(2,200,000)
Carrying Value	952,900,000	952,800,000
Unamortized loan fees	(15,800,000)	(16,200,000)
Total debt	$ 937,100,000	936,600,000
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	900,000,000
Unamortized Net Premium/(Discount)	(2,100,000)	(2,200,000)
Carrying Value	$ 897,900,000	$ 897,800,000

Senior Notes - Narrative (Deta

Senior Notes - Narrative (Details) - Senior Notes [Member]	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Aug. 31, 2016USD ($)
Debt Instrument [Line Items]
Debt face value	$ 955,000,000	$ 955,000,000
Balance sheet leverage ratio	1.50
Maximum [Member]
Debt Instrument [Line Items]
Maximum balance sheet leverage ratio	0.93
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	$ 900,000,000
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 Cre60

Borrowings Under Lines of Credit (Details) - USD ($)	Dec. 10, 2015	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Line of Credit Facility [Line Items]
Borrowings under line of credit		$ 0	$ 50,000,000
Repayments of lines of credit		$ 0
Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Fixed charge coverage ratio		2.5
Covenant, tangible net worth		$ 1,214,500,000
Secured recourse leverage ratio		1.40%
Liquidity covenant		$ 615,000,000
Adjusted secured leverage ratio		45.00%
Consolidated leverage ratio		61.90%
Recourse leverage ratio		0.84
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]
Proceeds from (repayments of) lines of credit		$ 0
Remaining borrowing capacity		$ 475,000,000		$ 475,000,000

Equity - Common Stock (Details

Equity - Common Stock (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 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	$ 1,700,000	$ 5,000,000
Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Shares retired due to common stock repurchase program (in shares)	77,155	240,000

Equity - Dividend Distribution

Equity - Dividend Distributions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Declared
Preferred Stock, Declared	$ 0	$ 0.5
Common stock, Declared	19.5	16.1
Total, Declared	19.5	16.6
Paid
Preferred Stock, Paid	0	0.5
Common Stock, Paid	18.5	13.8
Total, Paid	18.5	14.3
Series B Preferred Stock [Member]
Declared
Preferred Stock, Declared	0	0.5
Paid
Preferred Stock, Paid	$ 0	$ 0.5

Equity - Share-Based Compensat

Equity - Share-Based Compensation (Details) - Restricted Stock [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 10.7	$ 17.5
Shares paid for tax withholding for share based compensation	1,114,903	396,442
Payments related to tax withholding for share-based compensation	$ 27.5	$ 8.1

Equity - Accumulated Other Com

Equity - Accumulated Other Comprehensive Income (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	$ 2,343.1
Unrealized gains, arising during the period	33.4
Noncontrolling interest	(24.8)
Taxes on unrealized gains, arising during the period	(3.5)
Balance end of period	2,337.2
Total Accumulated Other Comprehensive Income [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(71.2)
Balance end of period	(66.1)
Foreign Currency Translation [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(98.6)
Unrealized gains, arising during the period	24.8
Noncontrolling interest	(15.8)
Taxes on unrealized gains, arising during the period	(3.6)
Balance end of period	(93.2)
Currency Derivative Contracts [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	27.5
Unrealized gains, arising during the period	8.5
Noncontrolling interest	(9)
Taxes on unrealized gains, arising during the period	0.2
Balance end of period	27.2
Marketable Securities [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(0.1)
Unrealized gains, arising during the period	0.1
Noncontrolling interest	0
Taxes on unrealized gains, arising during the period	(0.1)
Balance end of period	$ (0.1)

Equity - Noncontrolling Intere

Equity - Noncontrolling Interests (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,312.2	$ 1,295.1
KWE [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,100
Ownership percentage by parent	23.65%	23.60%
Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,300	$ 1,300

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 0.8	$ (7.4)
Dividends allocated to participating securities	(0.3)	(0.5)
Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	0.5	(7.9)
Dividends declared on common shares	(19.3)	(15.6)
Undistributed losses attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	$ (18.8)	$ (23.5)
Distributed earnings per share (in dollars per share)	$ 0.17	$ 0.14
Undistributed (losses) earnings per share (in dollars per share)	(0.17)	(0.21)
Loss per basic (in dollars per share)	0	(0.07)
Loss per diluted (in dollars per share)	$ 0	$ (0.07)
Weighted average shares outstanding for basic (in shares)	112,167,447	109,214,633
Weighted average shares outstanding for diluted (in shares)	112,167,447	109,214,633
Dividends declared per common share (in dollars per share)	$ 0.17	$ 0.14
Potentially dilutive securities (in shares)	1,111,243	8,381,629

Segment Information (Details)

Segment Information (Details) ft² in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2017USD ($)ft²segmentline_of_businessoffice	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
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		$ 124.3	$ 119.9
Hotel		29.5	29.1
Sale of real estate		0.8	1.9
Investment management, property services and research fees		17.5	19.1
Related party property service and research fees		9.7	11
Loan purchases, loan originations and other		2.1	2.1
Total revenue		174.2	172.1
Operating expenses		(105.8)	(114.5)
Depreciation and amortization		(49.7)	(48.3)
Total operating expenses		(155.5)	(162.8)
Income from unconsolidated investments		22.5	19.2
Operating income		41.2	28.5
Gain on sale of real estate		5.4	38.4
Acquisition-related expenses		(0.3)	(2)
Interest expense-investment		(34.4)	(32.5)
Interest expense-corporate		(15.6)	(12.1)
Other		0.5	0.7
(Loss) income before benefit from (provision for) income taxes		(3.2)	21
(Provision for) benefit from income taxes		4.1	(0.5)
Net income		0.9	20.5
Net income attributable to the noncontrolling interests		(0.1)	(27.4)
Preferred dividends and accretion of preferred stock issuance costs		0	(0.5)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		0.8	(7.4)
Segment Reporting Information, Assets [Abstract]
Total assets	[1]	$ 7,626		$ 7,659.1
KW Investments Segment [Member]
Segment Reporting Information [Line Items]
Average ownership interest in investments		40.00%
IMRES [Member]
Segment Reporting Information [Line Items]
Area of real estate property | ft²		59
Number of offices | office		25
Segment Reporting Information, Profit (Loss) [Abstract]
Related party property service and research fees		$ 9.7	11
Operating Segments [Member] | KW Investments Segment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Rental		124.3	119.9
Hotel		29.5	29.1
Sale of real estate		0.8	1.9
Loan purchases, loan originations and other		2.1	2.1
Total revenue		156.7	153
Operating expenses		(78.4)	(75.2)
Depreciation and amortization		(49.7)	(48.3)
Income from unconsolidated investments		21.6	18.1
Operating income		50.2	47.6
Gain on sale of real estate		5.4	38.4
Acquisition-related expenses		(0.3)	(2)
Interest expense-investment		(34.4)	(32.5)
Other		0.8	0.7
(Loss) income before benefit from (provision for) income taxes		21.7	52.2
(Provision for) benefit from income taxes		(1)	(1)
Net income		20.7	51.2
Net income attributable to the noncontrolling interests		(0.1)	(27.4)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		20.6	23.8
Segment Reporting Information, Assets [Abstract]
Total assets		7,410.5		7,375.5
Operating Segments [Member] | IMRES [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Investment management, property services and research fees		17.5	19.1
Total revenue		17.5	19.1
Operating expenses		(13.3)	(15.9)
Income from unconsolidated investments		0.8	1.2
Operating income		5	4.4
Net income attributable to the noncontrolling interests		0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		5	4.4
Segment Reporting Information, Assets [Abstract]
Total assets		88		78.1
Corporate, Non-Segment [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Operating expenses		(14.1)	(23.5)
Operating income		(14.1)	(23.5)
Interest expense-corporate		(15.6)	(12.1)
Other		0.2	0
(Loss) income before benefit from (provision for) income taxes		(29.9)	(35.6)
(Provision for) benefit from income taxes		5.1	0.5
Net income		(24.8)	(35.1)
Preferred dividends and accretion of preferred stock issuance costs		0	(0.5)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(24.8)	$ (35.6)
Segment Reporting Information, Assets [Abstract]
Total assets		$ 127.5		$ 205.5
[1]	The assets and liabilities as of March 31, 2017 include $4.6 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.7 billion) and $2.7 billion (including investment debt of $2.4 billion), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2016 include $4.5 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.6 billion) and $2.7 billion (including investment debt of $2.4 billion), 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
		Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Taxes [Line Items]
Income (loss) before income taxes		$ (3.2)	$ 21
Provision for income taxes		(4.1)	$ 0.5
Effect of new accounting standard adoption	[1]			$ 9.3
Excess tax benefit from share-based compensation		12.4
Tax benefit from share-based compensation cost		4.3
US domestic taxes would be incurred if repatriated to the United States		1.2
Ireland and Jersey [Member]
Income Taxes [Line Items]
Undistributed earnings of foreign subsidiaries		$ 3.9
U.S. Federal [Member]
Income Taxes [Line Items]
Federal statutory rate		35.00%
Retained Earnings [Member]
Income Taxes [Line Items]
Effect of new accounting standard adoption	[1]			9.3
Retained Earnings [Member] | Accounting Standards Update 2016-09 [Member]
Income Taxes [Line Items]
Effect of new accounting standard adoption				$ 9.3
[1]	See Note 2 for further discussion.

Guarantor and Non-Guarantor F69

Guarantor and Non-Guarantor Financial Statements - Narrative (Details)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Guarantor and Nonguarantor Financial Statements [Abstract]
Consolidated entity ownership percentage	100.00%	100.00%

Guarantor and Non-Guarantor F70

Guarantor and Non-Guarantor Financial Statements - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions		Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents		$ 168	$ 260.2
Cash held by consolidated investments		640.3	625.5
Accounts receivable		80.2	71.3
Loan purchases and originations		82.6	87.7
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,832	5,814.2
Unconsolidated investments		567.6	555.6
Investments in and advances to consolidated subsidiaries		0	0
Other assets		255.3	244.6
Total assets	[1]	7,626	7,659.1
Liabilities
Accounts payable		14.7	11.2
Accrued expenses and other liabilities		377.8	412.1
Total liabilities	[1]	5,288.8	5,316
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,025	1,048
Noncontrolling interests		1,312.2	1,295.1
Total equity		2,337.2	2,343.1
Total liabilities and equity		7,626	7,659.1
Investment Debt [Member]
Liabilities
Long-term debt		3,959.2	3,956.1
Senior Notes [Member]
Liabilities
Long-term debt		937.1	936.6
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		1,044.5	1,063.8
Other assets		0	0
Total assets		1,044.5	1,063.8
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		19.5	15.8
Total liabilities		19.5	15.8
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,025	1,048
Noncontrolling interests		0	0
Total equity		1,025	1,048
Total liabilities and equity		1,044.5	1,063.8
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Assets
Cash and cash equivalents		74.2	106
Cash held by consolidated investments		0	0
Accounts receivable		0	0
Loan purchases and originations		0.3	0.3
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		0	0
Unconsolidated investments		19.3	18.8
Investments in and advances to consolidated subsidiaries		2,048.6	2,073.2
Other assets		2.6	2.6
Total assets		2,145	2,200.9
Liabilities
Accounts payable		0.3	0.5
Accrued expenses and other liabilities		163.1	200
Total liabilities		1,100.5	1,137.1
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,044.5	1,063.8
Noncontrolling interests		0	0
Total equity		1,044.5	1,063.8
Total liabilities and equity		2,145	2,200.9
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents		53.5	45.4
Cash held by consolidated investments		0	0
Accounts receivable		47	37.5
Loan purchases and originations		5.7	12.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		1,494.7	1,482.5
Unconsolidated investments		370.4	380
Investments in and advances to consolidated subsidiaries		1,151.9	1,171.6
Other assets		46	39.7
Total assets		3,169.2	3,168.8
Liabilities
Accounts payable		1.8	1.6
Accrued expenses and other liabilities		183.7	157.2
Total liabilities		1,120.6	1,095.6
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,048.6	2,073.2
Noncontrolling interests		0	0
Total equity		2,048.6	2,073.2
Total liabilities and equity		3,169.2	3,168.8
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents		40.3	108.8
Cash held by consolidated investments		640.3	625.5
Accounts receivable		33.2	33.8
Loan purchases and originations		76.6	75.3
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		4,337.3	4,331.7
Unconsolidated investments		177.9	156.8
Investments in and advances to consolidated subsidiaries		0	0
Other assets		206.7	202.3
Total assets		5,512.3	5,534.2
Liabilities
Accounts payable		12.6	9.1
Accrued expenses and other liabilities		11.5	39.1
Total liabilities		3,048.2	3,067.5
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,151.9	1,171.6
Noncontrolling interests		1,312.2	1,295.1
Total equity		2,464.1	2,466.7
Total liabilities and equity		5,512.3	5,534.2
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		935.1	936.8
Reportable Legal Entities [Member] | Investment Debt [Member] | Non-guarantor Subsidiaries [Member]
Liabilities
Long-term debt		3,024.1	3,019.3
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		937.1	936.6
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	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		(4,245)	(4,308.6)
Other assets		0	0
Total assets		(4,245)	(4,308.6)
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		0	0
Total liabilities		0	0
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		(4,245)	(4,308.6)
Noncontrolling interests		0	0
Total equity		(4,245)	(4,308.6)
Total liabilities and equity		(4,245)	(4,308.6)
Elimination [Member] | Investment Debt [Member]
Liabilities
Long-term debt		0	0
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 March 31, 2017 include $4.6 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.7 billion) and $2.7 billion (including investment debt of $2.4 billion), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2016 include $4.5 billion (including cash held by consolidated investments of $0.6 billion and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $3.6 billion) and $2.7 billion (including investment debt of $2.4 billion), 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 F71

Guarantor and Non-Guarantor Financial Statements - Consolidating Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue
Rental	$ 124.3	$ 119.9
Hotel	29.5	29.1
Sale of real estate	0.8	1.9
Investment management, property services and research fees	17.5	19.1
Loan purchases, loan originations and other	2.1	2.1
Total revenue	174.2	172.1
Operating expenses
Rental operating	36	31
Hotel operating	24.4	24.5
Cost of real estate sold	0.7	1.4
Commission and marketing	2	1.8
Compensation and related	32.7	45.7
General and administrative	10	10.1
Depreciation and amortization	49.7	48.3
Total operating expenses	155.5	162.8
Income from unconsolidated investments	22.5	19.2
Income from consolidated subsidiaries	0	0
Operating income	41.2	28.5
Non-operating income (expense)
Acquisition-related gains	0
Acquisition-related expenses	(0.3)	(2)
Interest expense-corporate	(15.6)	(12.1)
Interest expense-investment	(34.4)	(32.5)
Gain on sale of real estate	5.4	38.4
Other income / (expense)	0.5	0.7
(Loss) income before benefit from (provision for) income taxes	(3.2)	21
(Provision for) benefit from income taxes	4.1	(0.5)
Net income	0.9	20.5
Net income attributable to the noncontrolling interests	(0.1)	(27.4)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	0.8	(6.9)
Preferred dividends and accretion of preferred stock issuance costs	0	(0.5)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	0.8	(7.4)
Reportable Legal Entities [Member] | Parent [Member]
Revenue
Rental	0	0
Hotel	0	0
Sale of real estate	0	0
Investment management, property services and research fees	0	0
Loan purchases, loan originations and other	0	0
Total revenue	0	0
Operating expenses
Rental operating	0	0
Hotel operating	0	0
Cost of real estate sold	0	0
Commission and marketing	0	0
Compensation and related	10.7	17.5
General and administrative	0	0
Depreciation and amortization	0	0
Total operating expenses	10.7	17.5
Income from unconsolidated investments	0	0
Income from consolidated subsidiaries	11.6	38
Operating income	0.9	20.5
Non-operating income (expense)
Acquisition-related gains	0
Acquisition-related expenses	0	0
Interest expense-corporate	0	0
Interest expense-investment	0	0
Gain on sale of real estate	0	0
Other income / (expense)	0	0
(Loss) income before benefit from (provision for) income taxes	0.9	20.5
(Provision for) benefit from income taxes	0	0
Net income	0.9	20.5
Net income attributable to the noncontrolling interests	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	0.9	20.5
Preferred dividends and accretion of preferred stock issuance costs	0	(0.5)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	0.9	20
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Revenue
Rental	0	0
Hotel	0	0
Sale of real estate	0	0
Investment management, property services and research fees	0	0
Loan purchases, loan originations and other	0	0
Total revenue	0	0
Operating expenses
Rental operating	0	0
Hotel operating	0	0
Cost of real estate sold	0	0
Commission and marketing	0	0
Compensation and related	7.2	13.9
General and administrative	2.9	3.4
Depreciation and amortization	0.4	0.3
Total operating expenses	10.5	17.6
Income from unconsolidated investments	1.2	2.4
Income from consolidated subsidiaries	31.6	63.5
Operating income	22.3	48.3
Non-operating income (expense)
Acquisition-related gains	0
Acquisition-related expenses	0	0
Interest expense-corporate	(15.6)	(12.1)
Interest expense-investment	0	0
Gain on sale of real estate	0	0
Other income / (expense)	(0.2)	1.3
(Loss) income before benefit from (provision for) income taxes	6.5	37.5
(Provision for) benefit from income taxes	5.1	0.5
Net income	11.6	38
Net income attributable to the noncontrolling interests	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	11.6	38
Preferred dividends and accretion of preferred stock issuance costs	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	11.6	38
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenue
Rental	33.1	24.9
Hotel	0	0
Sale of real estate	0	0
Investment management, property services and research fees	15.5	18.2
Loan purchases, loan originations and other	0.3	0.3
Total revenue	48.9	43.4
Operating expenses
Rental operating	13.2	9.9
Hotel operating	0	0
Cost of real estate sold	0	0
Commission and marketing	1.9	1.7
Compensation and related	12.7	12.2
General and administrative	4.5	3.8
Depreciation and amortization	11.6	8.5
Total operating expenses	43.9	36.1
Income from unconsolidated investments	6.9	5.5
Income from consolidated subsidiaries	26.6	59.3
Operating income	38.5	72.1
Non-operating income (expense)
Acquisition-related gains	0
Acquisition-related expenses	0	0
Interest expense-corporate	0	0
Interest expense-investment	(8.4)	(5.4)
Gain on sale of real estate	0	0.4
Other income / (expense)	0	(2.5)
(Loss) income before benefit from (provision for) income taxes	30.1	64.6
(Provision for) benefit from income taxes	1.5	(1.1)
Net income	31.6	63.5
Net income attributable to the noncontrolling interests	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	31.6	63.5
Preferred dividends and accretion of preferred stock issuance costs	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	31.6	63.5
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member]
Revenue
Rental	91.2	95
Hotel	29.5	29.1
Sale of real estate	0.8	1.9
Investment management, property services and research fees	2	0.9
Loan purchases, loan originations and other	1.8	1.8
Total revenue	125.3	128.7
Operating expenses
Rental operating	22.8	21.1
Hotel operating	24.4	24.5
Cost of real estate sold	0.7	1.4
Commission and marketing	0.1	0.1
Compensation and related	2.1	2.1
General and administrative	2.6	2.9
Depreciation and amortization	37.7	39.5
Total operating expenses	90.4	91.6
Income from unconsolidated investments	14.4	11.3
Income from consolidated subsidiaries	0	0
Operating income	49.3	48.4
Non-operating income (expense)
Acquisition-related gains	0
Acquisition-related expenses	(0.3)	(2)
Interest expense-corporate	0	0
Interest expense-investment	(26)	(27.1)
Gain on sale of real estate	5.4	38
Other income / (expense)	0.7	1.9
(Loss) income before benefit from (provision for) income taxes	29.1	59.2
(Provision for) benefit from income taxes	(2.5)	0.1
Net income	26.6	59.3
Net income attributable to the noncontrolling interests	(0.1)	(27.4)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	26.5	31.9
Preferred dividends and accretion of preferred stock issuance costs	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	26.5	31.9
Elimination [Member]
Revenue
Rental	0	0
Hotel	0	0
Sale of real estate	0	0
Investment management, property services and research fees	0	0
Loan purchases, loan originations and other	0	0
Total revenue	0	0
Operating expenses
Rental operating	0	0
Hotel operating	0	0
Cost of real estate sold	0	0
Commission and marketing	0	0
Compensation and related	0	0
General and administrative	0	0
Depreciation and amortization	0	0
Total operating expenses	0	0
Income from unconsolidated investments	0	0
Income from consolidated subsidiaries	(69.8)	(160.8)
Operating income	(69.8)	(160.8)
Non-operating income (expense)
Acquisition-related gains	0
Acquisition-related expenses	0	0
Interest expense-corporate	0	0
Interest expense-investment	0	0
Gain on sale of real estate	0	0
Other income / (expense)	0	0
(Loss) income before benefit from (provision for) income taxes	(69.8)	(160.8)
(Provision for) benefit from income taxes	0	0
Net income	(69.8)	(160.8)
Net income attributable to the noncontrolling interests	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.	(69.8)	(160.8)
Preferred dividends and accretion of preferred stock issuance costs	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (69.8)	$ (160.8)

Guarantor and Non-Guarantor F72

Guarantor and Non-Guarantor Financial Statements - Consolidated Statement of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	$ 0.9	$ 20.5
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain	21.2	22.2
Unrealized gain on marketable securities	0	0.1
Amounts reclassified out of AOCI during the period	0
Unrealized currency derivative contracts gain (loss)	8.7	(50.3)
Total other comprehensive income (loss) for the period	29.9	(28)
Comprehensive income (loss)	30.8	(7.5)
Comprehensive loss (income) attributable to noncontrolling interests	(24.9)	1.5
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	5.9	(6)
Reportable Legal Entities [Member] | Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	0.9	20.5
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain	21.2	22.2
Unrealized gain on marketable securities	0	0.1
Amounts reclassified out of AOCI during the period	0
Unrealized currency derivative contracts gain (loss)	8.7	(50.3)
Total other comprehensive income (loss) for the period	29.9	(28)
Comprehensive income (loss)	30.8	(7.5)
Comprehensive loss (income) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	30.8	(7.5)
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	11.6	38
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain	21.2	22.2
Unrealized gain on marketable securities	0	0.1
Amounts reclassified out of AOCI during the period	0
Unrealized currency derivative contracts gain (loss)	8.7	(50.3)
Total other comprehensive income (loss) for the period	29.9	(28)
Comprehensive income (loss)	41.5	10
Comprehensive loss (income) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	41.5	10
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	31.6	63.5
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain	3.9	4.5
Unrealized gain on marketable securities	0	0
Amounts reclassified out of AOCI during the period	0
Unrealized currency derivative contracts gain (loss)	(2)	(0.5)
Total other comprehensive income (loss) for the period	1.9	4
Comprehensive income (loss)	33.5	67.5
Comprehensive loss (income) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	33.5	67.5
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	26.6	59.3
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain	19.3	18.2
Unrealized gain on marketable securities	0	0
Amounts reclassified out of AOCI during the period	0
Unrealized currency derivative contracts gain (loss)	10.7	(49.6)
Total other comprehensive income (loss) for the period	30	(31.4)
Comprehensive income (loss)	56.6	27.9
Comprehensive loss (income) attributable to noncontrolling interests	(24.9)	1.5
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	31.7	29.4
Elimination [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	(69.8)	(160.8)
Other comprehensive income (loss), net of tax:
Unrealized foreign currency translation (loss) gain	(44.4)	(44.9)
Unrealized gain on marketable securities	0	(0.1)
Amounts reclassified out of AOCI during the period	0
Unrealized currency derivative contracts gain (loss)	(17.4)	100.4
Total other comprehensive income (loss) for the period	(61.8)	55.4
Comprehensive income (loss)	(131.6)	(105.4)
Comprehensive loss (income) attributable to noncontrolling interests	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (131.6)	$ (105.4)

Guarantor and Non-Guarantor F73

Guarantor and Non-Guarantor Financial Statements - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities		$ 11.2	$ (8.9)
Cash flows from investing activities:
Additions to loans		0	(4.8)
Collections of loans		6.4	130.2
Net proceeds from sale of real estate		40.3	108
Purchases of and additions to real estate		(47)	(102.2)
Additions to nonrefundable escrow deposits		0	(1.7)
Proceeds from settlement of foreign derivative contracts		2.7	22.6
Purchases of foreign derivative contracts		(0.4)	(3.4)
Investment in marketable securities		(0.3)	(0.9)
Distributions from unconsolidated investments		17.9	23.8
Contributions to unconsolidated investments		(28.8)	(23.2)
(Investments in) distributions from consolidated subsidiaries, net		0	0
Net cash (used in) provided by investing activities		(9.2)	148.4
Cash flows from financing activities:
Borrowings under senior notes payable		0
Borrowings under line of credit		0	50
Repayment of line of credit		0
Borrowings under investment debt		24	126.2
Repayment of investment debt		(56.5)	(41.1)
Debt issue costs		(0.1)	(2.2)
Repurchase and retirement of common stock		(29.2)	(13.1)
Dividends paid		(18.5)	(14.3)
Acquisition of KWE shares from noncontrolling interest holders		(0.8)	(41.3)
Contributions from noncontrolling interests, excluding KWE		8.8	5.5
Distributions to noncontrolling interests		(15.9)	(43.7)
Net cash (used in) provided by financing activities		(88.2)	26
Effect of currency exchange rate changes on cash and cash equivalents		8.8	1
Net change in cash and cash equivalents	[1]	(77.4)	166.5
Cash and cash equivalents, beginning of period		885.7	731.6
Cash and cash equivalents, end of period		808.3	898.1
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities		2.6	(0.2)
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	0
Distributions from unconsolidated investments		0	0
Contributions to unconsolidated investments		0	0
(Investments in) distributions from consolidated subsidiaries, net		45.1	27.6
Net cash (used in) provided by investing activities		45.1	27.6
Cash flows from financing activities:
Borrowings under senior notes payable		0
Borrowings under line of credit		0	0
Repayment of line of credit		0
Borrowings under investment debt		0	0
Repayment of investment debt			0
Debt issue costs		0	0
Repurchase and retirement of common stock		(29.2)	(13.1)
Dividends paid		(18.5)	(14.3)
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 (used in) provided by financing activities		(47.7)	(27.4)
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		(50.6)	(88.5)
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		2.7	22.6
Purchases of foreign derivative contracts		(0.4)	(3.4)
Investment in marketable securities		0	0
Distributions from unconsolidated investments		0	0
Contributions to unconsolidated investments		0	(1)
(Investments in) distributions from consolidated subsidiaries, net		16.6	0
Net cash (used in) provided by investing activities		18.9	18.2
Cash flows from financing activities:
Borrowings under senior notes payable		0
Borrowings under line of credit		0	50
Repayment of line of credit		0
Borrowings under investment debt		0	0
Repayment of investment debt			0
Debt issue costs		(0.1)	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 (used in) provided by financing activities		(0.1)	50
Effect of currency exchange rate changes on cash and cash equivalents		0	0
Net change in cash and cash equivalents		(31.8)	(20.3)
Cash and cash equivalents, beginning of period		106	80.2
Cash and cash equivalents, end of period		74.2	59.9
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities		34.5	63.7
Cash flows from investing activities:
Additions to loans		0	(4.8)
Collections of loans		6.4	0
Net proceeds from sale of real estate		0	3.4
Purchases of and additions to real estate		(6)	(6.8)
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		(0.3)	(0.9)
Distributions from unconsolidated investments		16.7	6.5
Contributions to unconsolidated investments		(23.1)	(15.5)
(Investments in) distributions from consolidated subsidiaries, net		(18.5)	(52.9)
Net cash (used in) provided by investing activities		(24.8)	(71)
Cash flows from financing activities:
Borrowings under senior notes payable		0
Borrowings under line of credit		0	0
Repayment of line of credit		0
Borrowings under investment debt		0	0
Repayment of investment debt		(1.6)	(4.3)
Debt issue costs		0	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 (used in) provided by financing activities		(1.6)	(4.3)
Effect of currency exchange rate changes on cash and cash equivalents		0	0
Net change in cash and cash equivalents		8.1	(11.6)
Cash and cash equivalents, beginning of period		45.4	37
Cash and cash equivalents, end of period		53.5	25.4
Non-guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash from (used in) operating activities		24.7	16.1
Cash flows from investing activities:
Additions to loans		0	0
Collections of loans		0	130.2
Net proceeds from sale of real estate		40.3	104.6
Purchases of and additions to real estate		(41)	(95.4)
Additions to nonrefundable escrow deposits			(1.7)
Proceeds from settlement of foreign derivative contracts		0	0
Purchases of foreign derivative contracts		0	0
Investment in marketable securities		0	0
Distributions from unconsolidated investments		1.2	17.3
Contributions to unconsolidated investments		(5.7)	(6.7)
(Investments in) distributions from consolidated subsidiaries, net		(43.2)	25.3
Net cash (used in) provided by investing activities		(48.4)	173.6
Cash flows from financing activities:
Borrowings under senior notes payable		0
Borrowings under line of credit		0	0
Repayment of line of credit		0
Borrowings under investment debt		24	126.2
Repayment of investment debt		(54.9)	(36.8)
Debt issue costs		0	(2.2)
Repurchase and retirement of common stock		0	0
Dividends paid		0	0
Acquisition of KWE shares from noncontrolling interest holders		(0.8)	(41.3)
Contributions from noncontrolling interests, excluding KWE		8.8	5.5
Distributions to noncontrolling interests		(15.9)	(43.7)
Net cash (used in) provided by financing activities		(38.8)	7.7
Effect of currency exchange rate changes on cash and cash equivalents		8.8	1
Net change in cash and cash equivalents		(53.7)	198.4
Cash and cash equivalents, beginning of period		734.3	614.4
Cash and cash equivalents, end of period		$ 680.6	$ 812.8
[1]	See discussion of non-cash effects in notes to statement of cash flows.

Subsequent Events (Details)

Subsequent Events (Details)	Apr. 24, 2017£ / sharesshares	Sep. 30, 2017$ / shares	Jun. 30, 2017$ / shares	Mar. 31, 2017	Dec. 31, 2016
KWE [Member]
Subsequent Event [Line Items]
Ownership percentage of company stockholders				23.65%	23.60%
Subsequent Event [Member] | Scenario, Forecast [Member]
Subsequent Event [Line Items]
Dividends payable (in dollars per share) | $ / shares		$ 0.19	$ 0.17
Subsequent Event [Member] | KWE [Member]
Subsequent Event [Line Items]
Shares issuable (in shares) | shares	0.667
Acquiree dividend declared (in gbp per share) | £ / shares	£ 0.12
Subsequent Event [Member] | KWE [Member] | Scenario, Forecast [Member]
Subsequent Event [Line Items]
Ownership percentage of former shareholders		36.00%
Ownership percentage of company stockholders		64.00%