Kennedy-Wilson (KW) 10-Q 1 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 30, 2018
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
Entity Emerging Growth Company	false
Entity Small Business	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		144,192,075

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents		$ 419.4	$ 351.3
Accounts receivable (including $4.0 and $5.2 of related party)		75.8	62.7
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,820.3	6,443.7
Loan purchases and originations		29.4	84.7
Unconsolidated investments (including $597.7 and $380.7 at fair value)		789.7	519.3
Other assets		246.8	263.1
Total assets	[1]	7,381.4	7,724.8
Liabilities
Accounts payable		28.1	19.5
Accrued expenses and other liabilities		506.2	465.9
Total liabilities	[1]	5,939.6	6,147.3
Equity
Common stock, 144,192,075 and 151,561,284 shares issued and outstanding as of September 30, 2018 and December 31, 2017		0	0
Additional paid-in capital		1,753.1	1,883.3
Accumulated deficit		(56.7)	(90.6)
Accumulated other comprehensive loss		(443.4)	(427.1)
Total Kennedy-Wilson Holdings, Inc. shareholders' equity		1,253	1,365.6
Noncontrolling interests		188.8	211.9
Total equity		1,441.8	1,577.5
Total liabilities and equity		7,381.4	7,724.8
Mortgage Debt [Member]
Liabilities
Long-term debt		2,872.2	3,156.6
KW Unsecured Debt [Member]
Liabilities
Long-term debt		1,250.6	1,179.4
KWE Unsecured Bonds [Member]
Liabilities
Long-term debt		$ 1,282.5	$ 1,325.9
[1]	The assets and liabilities as of September 30, 2018 include $681.4 million (including cash held by consolidated investments of $28.4 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $589.0 million) and $353.9 million (including investment debt of $311.0 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2017 include $904.4 million (including cash held by consolidated investments of $39.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $789.1 million) and $510.0 million (including investment debt of $475.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2018	Dec. 31, 2017
Assets
Related party accounts receivable		$ 4	$ 5.2
Fair value of unconsolidated investments		597.7	380.7
Assets	[1]	7,381.4	7,724.8
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,820.3	6,443.7
Liabilities
Liabilities	[1]	$ 5,939.6	$ 6,147.3
Stockholders' Equity Attributable to Parent [Abstract]
Common stock, shares issued (in shares)		144,192,075	151,561,284
Common stock, shares outstanding (in shares)		144,192,075	151,561,284
Variable Interest Entity, Primary Beneficiary [Member]
Assets
Assets		$ 681.4	$ 904.4
Cash held by consolidated investments		28.4	39.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		589	789.1
Liabilities
Liabilities		353.9	510
Variable Interest Entity, Primary Beneficiary [Member] | Investment Debt [Member]
Liabilities
Long-term debt		$ 311	$ 475.3
[1]	The assets and liabilities as of September 30, 2018 include $681.4 million (including cash held by consolidated investments of $28.4 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $589.0 million) and $353.9 million (including investment debt of $311.0 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2017 include $904.4 million (including cash held by consolidated investments of $39.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $789.1 million) and $510.0 million (including investment debt of $475.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue
Total revenue	$ 185.8	$ 272.5	$ 594.8	$ 620.5
Operating expenses
General and administrative	11.7	10.8	36.6	30.7
Depreciation and amortization	51.5	55.4	158.7	157.2
Total operating expenses	177.2	231.2	578.6	564.8
Income from unconsolidated investments	24	17.6	60.9	57.4
Operating income	32.6	58.9	77.1	113.1
Non-operating income (expense)
Gain on sale of real estate, net	39.4	5.3	304.2	77
Acquisition-related expenses	(0.4)	(1)	(0.6)	(2.3)
Interest expense	(55.2)	(56.8)	(181.3)	(158.9)
Other income (expense)	3.4	(0.3)	13.5	4.6
Income before (provision for) benefit from income taxes	19.8	6.1	212.9	33.5
(Provision for) benefit from income taxes	(6.9)	3.7	(33.7)	(0.9)
Net income	12.9	9.8	179.2	32.6
Net income attributable to the noncontrolling interests	(0.8)	(18.7)	(59.9)	(31.3)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 12.1	$ (8.9)	$ 119.3	$ 1.3
Basic income (loss) per share
Income (loss) per basic (in dollars per share)	$ 0.09	$ (0.08)	$ 0.83	$ 0.01
Weighted average shares outstanding for basic (in shares)	141,003,413	111,966,716	143,450,695	111,955,924
Diluted income (loss) per share
Income (loss) per diluted (in dollars per share)	$ 0.09	$ (0.08)	$ 0.83	$ 0.01
Weighted average shares outstanding for diluted (in shares)	141,800,972	111,966,716	144,516,045	111,955,924
Dividends declared per common share (in dollars per share)	$ 0.19	$ 0.17	$ 0.57	$ 0.51
Rental [Member]
Revenue
Total revenue	$ 123.4	$ 125.5	$ 392.6	$ 373.6
Operating expenses
Cost of goods and services	38.2	38	119.5	110.5
Hotel [Member]
Revenue
Total revenue	43.5	37.3	117.6	95.8
Operating expenses
Cost of goods and services	30.6	26.1	90.8	73.3
Sale of Real Estate [Member]
Revenue
Total revenue	6.5	89.8	48.7	103.4
Operating expenses
Cost of goods and services	5.8	63.4	45.6	73.7
Investment Management, Property Services and Research Fees [Member]
Revenue
Total revenue	12.4	11.4	34.8	32.7
Loan Purchases, Loan Originations and Other [Member]
Revenue
Total revenue	0	8.5	1.1	15
Commission and Marketing [Member]
Operating expenses
Cost of goods and services	1.1	2.1	4.6	5.9
Compensation and Related [Member]
Operating expenses
Cost of goods and services	$ 38.3	$ 35.4	$ 122.8	$ 113.5

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Investment management, property services, and research fees— related party	$ 5	$ 7.5	$ 11.3	$ 17.5

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 12.9	$ 9.8	$ 179.2	$ 32.6
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on marketable securities	0	0.1	0	0.2
Unrealized foreign currency translation (loss) gain	(7.5)	50.5	(46.4)	171.3
Amounts reclassified out of AOCI during the period	0.1	0.1	13.2	0.1
Unrealized currency derivative contracts (loss) gain	(0.2)	(11.5)	22	(44.3)
Total other comprehensive (loss) income for the period	(7.6)	39.2	(11.2)	127.3
Comprehensive income	5.3	49	168	159.9
Comprehensive loss (income) attributable to noncontrolling interests	0.1	(52.9)	(65)	(138.8)
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 5.4	$ (3.9)	$ 103	$ 21.1

Consolidated Statement of Equit

Consolidated Statement of Equity - 9 months ended Sep. 30, 2018 - 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]
Beginning balance outstanding (in shares) at Dec. 31, 2017		151,561,284
Balance beginning of period at Dec. 31, 2017	$ 1,577.5	$ 0	$ 1,883.3	$ (90.6)	$ (427.1)	$ 211.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares forfeited (in shares)		(15,100)
Restricted stock grants (RSG) (in shares)		1,514,800
Shares retired due to RSG vesting (in shares)		(380,768)
Shares retired due to RSG vesting	(6.8)		(6.8)
Shares retired due to common stock repurchase program (in shares)		(8,488,141)
Shares retired due to common stock repurchase program	(153.3)		(151.3)	(2)
Stock based compensation	27.9		27.9
Other comprehensive income (loss):
Unrealized foreign currency translation (loss) gain, net of tax	(28.1)				(33.2)	5.1
Unrealized foreign currency derivative contract gain, net of tax	17				17
Unrealized gain on marketable securities	(0.1)				(0.1)
Common stock dividends	(83.4)			(83.4)
Net income	179.2			119.3		59.9
Contributions from noncontrolling interests	16.8					16.8
Distributions to noncontrolling interests	(104.9)					(104.9)
Ending balance outstanding (in shares) at Sep. 30, 2018		144,192,075
Balance end of period at Sep. 30, 2018	$ 1,441.8	$ 0	$ 1,753.1	$ (56.7)	$ (443.4)	$ 188.8

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income		$ 179.2	$ 32.6
Adjustments to reconcile net income to net cash provided by operating activities:
Net gain from sale of real estate		(307.3)	(106.7)
Depreciation and amortization		158.7	157.2
Above/below and straight-line rent amortization		(11.7)	(7.9)
Provision for (benefit from) deferred income taxes		20.5	(5.8)
Amortization of deferred loan costs		10.7	6.3
Accretion of interest income on loans		(0.6)	(12.1)
Amortization of discount and accretion of premium on issuance of the senior notes and investment debt		1.5	(0.9)
Unrealized net (gain) loss on derivatives		(12.1)	15.8
Income from unconsolidated investments		(60.9)	(57.4)
Operating distributions from unconsolidated investments		33.7	67.6
Operating distributions from loan purchases and originations		0.6	5.1
Share-based compensation		27.9	29.2
Change in assets and liabilities:
Accounts receivable		(14.5)	(4.9)
Other assets		(7.3)	(4.5)
Accounts payable, accrued expenses and other liabilities		73.4	16
Net cash provided by operating activities		91.8	129.6
Cash flows from investing activities:
Collections of loans		4.5	16.9
Additions to loans		(1.9)	0
Net proceeds from sale of consolidated real estate		1,164.9	261.9
Purchases of and additions to consolidated real estate		(440.9)	(475)
Proceeds from settlement of foreign derivative contracts		7.8	3.1
Purchases of foreign derivative contracts		(0.8)	(0.6)
Investment in marketable securities		0	(0.6)
Proceeds from sale of marketable securities		7.4	0.6
Additions to development project asset		(22.2)	(13)
Proceeds from development project asset		38.9	36.9
Distributions from unconsolidated investments		48	89.4
Contributions to unconsolidated investments		(293.1)	(62.3)
Net cash provided by (used in) investing activities		512.6	(142.7)
Cash flows from financing activities:
Borrowings under senior notes payable		246.6	0
Borrowings under line of credit		225	400
Repayment of lines of credit		(325)	(50)
Borrowings under investment debt		478.7	258.3
Repayment of investment debt		(719.8)	(142.6)
Repayment of term loan		(75)	0
Debt issue costs		(7.7)	(1.4)
Repurchase and retirement of common stock		(160.1)	(35.6)
Dividends paid		(84.2)	(57.1)
Costs associated with KWE transaction		0	(10)
Acquisition of KWE shares from noncontrolling interest holders		0	(3.3)
KWE closing dividend		(17.2)	0
Contributions from noncontrolling interests, excluding KWE		22.8	43.6
Distributions to noncontrolling interests		(104.9)	(93.3)
Net cash (used in) provided by financing activities		(520.8)	308.6
Effect of currency exchange rate changes on cash and cash equivalents		(15.5)	51.5
Net change in cash and cash equivalents	[1]	68.1	347
Cash and cash equivalents, beginning of period		351.3	885.7
Cash and cash equivalents, end of period		419.4	1,232.7
Supplemental cash flow information:
Interest	[2],[3]	145.4	127.6
Income taxes	[4]	7	15.6
Supplemental disclosure of non-cash investing and financing activities:
Accrued capital expenditures		2.2	18.2
Dividends declared but not paid on common stock		$ 27.4	$ 19.4
[1]	See discussion of non-cash effects in notes to consolidated statements of cash flows.
[2]	$5.4 million and $36.6 million attributable to noncontrolling interests for the nine months ended September 30, 2018 and 2017, respectively.
[3]	Includes $5.8 million and $2.6 million of capitalized interest for the nine months ended September 30, 2018 and 2017, respectively.
[4]	$12.0 million attributable to noncontrolling interests for the nine months ended September 30, 2017.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)hotel	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Statement of Cash Flows [Abstract]
Interest paid attributable to noncontrolling interest	$ 5.4	$ 36.6
Income taxes paid attributable to noncontrolling interest		12
Capitalized interest	5.8	$ 2.6
Restricted cash	$ 60.1		$ 43.6
Number of hotels securing loans | hotel	6

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Kennedy Wilson's unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") may have been condensed or omitted pursuant to SEC rules and regulations, although the Company believes that the disclosures are adequate to make their presentation not misleading. In the Company's opinion, all adjustments, consisting of only normal and recurring items, necessary for a fair presentation of the results of operations for the three and nine months ended September 30, 2018 and 2017 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, 2018 . 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, 2017 . Throughout these unaudited interim consolidated financial statements “Kennedy Wilson” is referenced, which is defined as the Company and its subsidiaries that are consolidated in its financial statements under U.S. GAAP. 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. 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 and third-party equity partners. 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.

Summary of Significant Accounti

Summary of Significant Accounting Polices and Adoption of New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2018
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—In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASC Topic 606, Revenue from Contracts with Customers , which introduced a new 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 identifies the contract, any separate performance obligations in the contract, determines the transaction price, allocates the transaction price and recognizes revenue when the performance obligations are satisfied. Management has concluded that, with the exception of performance fees, the nature of the Company's revenue streams is such that the requirements are generally satisfied at the time that the fee becomes receivable. Consequently, the new standard did not impact the timing of revenue recognition for these revenue streams . The Company has concluded that performance fees to the Company, based on cumulative fund performance to-date, represent equity method investments that are not in the scope of the amended revenue recognition guidance. Effective January 1, 2018, the Company changed its policy for recognition and measurement of performance fees. This accounting policy change did not change the timing or amount of income recognized related to performance fees. Prior to this accounting method change, the performance-based component of the fees was recognized within investment management, property services and research fees in the Consolidated Statements of Operations. Under the equity method of accounting, the Company now recognizes its allocation of performance fees along with its share of income or loss and fair value, proportionate to the Company’s equity ownership in each applicable investment as a component of income from unconsolidated investments. The Company has accounted for this change by full retrospective application and prior periods presented have been recast. The impact of adoption was a reclassification of $32.9 million from other assets to unconsolidated investments on the Consolidated Balance Sheet as of December 31, 2017. During the three and nine months ended September 30, 2018 , there was $7.6 million and $24.7 million of performance fees recorded as a component of income from unconsolidated investments. During the three and nine months ended September 30, 2017 , there was $4.7 million and $8.6 million of performance fee allocations which were previously presented as a component of investment management, property services and research fees and have been reclassified to income from unconsolidated investments in the current year presentation. ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets ("Subtopic 610-20") was also adopted effective January 1, 2018. Management concluded that the new standard did not have a significant impact on the amount, timing or classification of real estate sales in the financial statements or related disclosures. This conclusion was based on the Company's current business mix and general approach to sales of real estate which are generally completed without seller financing or continuing involvement that would indicate that a performance obligation is not met at the time the transaction closes. With the adoption of Subtopic 610-20, the Company will recognize the entire gain attributed to contributions of real estate properties to unconsolidated entities. The Company previously recognized a gain on contribution only to the extent of the third-party ownership in the unconsolidated entity acquiring the property and deferred the portion of the gain related to the Company's ownership. The Company’s analysis included evaluation of an in-process development project that will be completed later in 2018 and found that while the evaluation is different under Subtopic 610-20, the recognition required recording the gain on the sale of the land and the development component, as separate performance obligations, under a percentage of completion methodology. However, this conclusion is identical to the manner of reporting the gain on the sale of this real estate under the superseded U.S. GAAP. Consequently, there was no significant impact upon this sale nor any of the other sales already completed. 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). The ownership of the other interest holders in consolidated subsidiaries is reflected as noncontrolling interests. Real estate is recorded based on cumulative costs incurred and allocated based on relative fair value. 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. FOREIGN CURRENCIES—The financial statements of Kennedy Wilson'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 and the British pound sterling. 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. FAIR VALUE MEASUREMENTS — Kennedy Wilson accounts for fair value measurements of financial assets and financial liabilities and for fair value measurements of non-financial items that are recognized or disclosed at fair value in the financial statements on a recurring basis under the provisions of ASC Subtopic 820-10, Fair Value Measurements ("Subtopic 820-10"). Subtopic 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When estimating fair value in the absence of an orderly transaction between market participants, 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 and the investments in debt securities are valued, in part, based on third party valuations and management estimates also using an income approach. FAIR VALUE OF FINANCIAL INSTRUMENTS — The estimated fair value of financial instruments is determined using available market information and appropriate valuation methodologies. Considerable judgment, is necessary however to interpret market data and develop the related estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material impact on the estimated fair value amounts. 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 potential exposure from adverse changes in foreign exchange rates arising from the Company’s net investments in foreign operations, the Company may enter into currency derivative contracts to hedge all or portions of the net investments in the Company’s non-U.S. dollar denominated foreign operations. INCOME TAXES—Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In accordance with ASC Subtopic 740-10, Accounting for Uncertainty in Income Taxes , the effect of income tax positions is recognized only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. RECENT ACCOUNTING PRONOUNCEMENTS—On January 1, 2018, Kennedy Wilson adopted ASC Topic 606 and ASC Subtopic 610-20 transition guidance. See discussion above in revenue recognition for more detail. 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. FASB ASC Topic 842 is required to be adopted for fiscal years beginning after December 15, 2018. The Company is currently evaluating its operating lease agreements. Because Kennedy Wilson'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 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 adoption of this standard did not have a material impact on Kennedy Wilson'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 impact noting that for asset acquisitions (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 adoption of this standard did not have a material impact on Kennedy Wilson's consolidated financial statements, except that going forward the Company will no longer record acquisition related gains when acquiring controlling interests in real estate investments that are deemed asset acquisitions and the Company will now capitalize acquisition-related costs on completed transactions. 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 Kennedy Wilson's consolidated financial statements. In August 2017, the FASB issued ASU 2017-12 that simplifies the application of hedge accounting guidance in current GAAP and improves the reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its consolidated financial statements. Among the simplification updates, the standard eliminates the requirement in current GAAP to separately recognize periodic hedge ineffectiveness. Mismatches between the changes in value of the hedged item and hedging instrument may still occur but they will no longer be separately reported. The standard requires the presentation of the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. This ASU is effective for public business entities, for annual and interim periods in fiscal years beginning after December 15, 2018. T he Company does not expect the ASU to have a significant impact on Kennedy Wilson's consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. This ASU is effective for all entities, for annual and interim periods in fiscal years beginning after December 15, 2018. T he Company does not expect the ASU to have a significant impact on Kennedy Wilson's consolidated financial statements. The FASB did not issue any other ASUs during the first nine months of 2018 that the Company expects to be applicable and have a material impact on the Company's financial position or results of operations. RECLASSIFICATIONS—Certain balances included in prior year's financial statements have been reclassified to conform to the current year's presentation.

Loan Purchases and Originations

Loan Purchases and Originations	9 Months Ended
	Sep. 30, 2018
Receivables [Abstract]
LOAN PURCHASES AND ORIGINATIONS	LOAN PURCHASES AND ORIGINATIONS Kennedy Wilson's investment in loan purchases and originations was $29.4 million and $84.7 million at September 30, 2018 and December 31, 2017 , respectively. Kennedy Wilson converted a loan portfolio into 100% direct ownership in six hotels located across the United Kingdom that had a carrying value of approximately $52.8 million when the Company gained control of the underlying properties on January 1, 2018. Kennedy Wilson recognized immaterial amounts of interest income on loans during the three and nine months ended September 30, 2018 , respectively, and $8.5 million and $15.0 million during the three and nine months ended September 30, 2017 , respectively.

Real Estate and In-Place Lease

Real Estate and In-Place Lease Value	9 Months Ended
	Sep. 30, 2018
Real Estate [Abstract]
REAL ESTATE AND IN-PLACE LEASE VALUE	REAL ESTATE AND IN-PLACE LEASE VALUE The following table summarizes Kennedy Wilson's investment in consolidated real estate properties at September 30, 2018 and December 31, 2017 : September 30, December 31, (Dollars in millions) 2018 2017 Land $ 1,393.6 $ 1,509.4 Buildings 4,058.6 4,558.0 Building improvements 611.2 511.2 In-place lease values 359.3 417.3 6,422.7 6,995.9 Less accumulated depreciation and amortization (602.4 ) (552.2 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,820.3 $ 6,443.7 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 8.9 years at September 30, 2018 . Consolidated Acquisitions The purchase of property is recorded to land, buildings, building improvements, and intangible lease value (including the value of above-market and below-market leases, acquired in-place lease values) relative to their respective estimated fair values. During the nine months ended September 30, 2018 , Kennedy Wilson acquired the following consolidated properties: (Dollars in millions) Purchase Price Allocation at Acquisition (1) Location Description Land Building Acquired in place lease values (2) Investment debt NCI KWH Shareholders' Equity Western U.S. Three multifamily properties and one commercial property $ 53.0 $ 109.3 $ 0.8 $ 103.5 $ — $ 59.6 United Kingdom One residential property 4.2 — — — — 4.2 Ireland One multifamily property 11.1 96.0 2.1 61.3 — 47.9 $ 68.3 $ 205.3 $ 2.9 $ 164.8 $ — $ 111.7 (1) Excludes net other assets. (2) Includes above and below market leases in this table. Above and below market leases are part of other assets and accrued expenses and other liabilities. Loans Converted to Real Estate See Note 3 for detail on conversion of loans into real estate for the nine months ended September 30, 2018 . Gains on Sale of Real Estate, Net During the nine months ended September 30, 2018 , Kennedy Wilson recognized gains on sale of real estate, net of $299.1 million of which $70.0 million was allocated to non-controlling interest. The net gains include the sale of 21 commercial properties in the United Kingdom, one commercial property in Ireland, one commercial property in Italy, six multifamily properties in Ireland, three multifamily properties in the Western United States, and one residential property in Ireland, and one residential property in the Western United States. Included in the net gains is an impairment loss identified upon the sale of a soon to be vacated office building in United Kingdom of $11.2 million . AXA Joint Venture AXA Investment Managers - Real Assets ("AXA") and the Company entered into a joint venture agreement ("AXA Joint Venture") targeting multifamily assets (also referred to as private rented sector ("PRS")) in Ireland. The AXA Joint Venture commenced with AXA investing in a 50% ownership stake in 1,173 multifamily units across three assets in Dublin, Ireland previously held by the Company and a different equity partner (held in 50/50 joint ventures) that was previously consolidated in the Company’s financial statements. During the three months ended September 30, 2018 , the Company sold 411 multifamily units across two assets in Dublin, Ireland and one in Cork, Ireland that were each wholly owned by the Company, to the AXA Joint Venture. The Company continues to hold a 50% ownership interest in the assets discussed above through its ownership in this new joint venture with AXA. As the Company does not control the new joint venture with AXA, the assets are no longer consolidated and its investment with AXA is accounted for under the equity method. The Company has elected the fair value option on its interest in the joint venture and will record the investment at fair value going forward. Under ASC Subtopic 610-20, due to the deconsolidation, the Company recognized a gain of $169.5 million through gain on sale of real estate of which the Company's share, net of noncontrolling interest, was $102.7 million for the nine months ended September 30, 2018 . Additionally, as such investments have been sold, the related accumulated other comprehensive income associated with foreign currency translation adjustments and hedged derivative instruments have been recognized in the consolidated statements of operations. Guarantees Kennedy Wilson has certain guarantees associated with loans secured by consolidated assets. As of September 30, 2018 , the maximum potential amount of future payments (undiscounted) Kennedy Wilson could be required to make under the guarantees was approximately $53.4 million which is approximately 2% of the investment level debt of Kennedy Wilson and its equity partners. The guarantees expire through 2025 , and Kennedy Wilson’s performance under the guarantees would be required upon liquidation if there is a shortfall between the principal amount of the loan and the net sale proceeds from the property. Based on the Company's evaluation of guarantees under FASB ASC Subtopic 460-10, Estimated Fair Value of Guarantees, the estimated fair value of guarantees made as of September 30, 2018 and December 31, 2017 were immaterial.

Unconsolidated Investments

Unconsolidated Investments	9 Months Ended
	Sep. 30, 2018
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. Accordingly, these investments are accounted for under the equity method. Joint Venture Holdings The following table details Kennedy Wilson's investments in joint ventures by investment type and geographic location as of September 30, 2018 : (Dollars in millions) Multifamily Commercial Mixed-Use Funds Residential and Other Total Western U.S. $ 195.7 $ 44.0 $ — $ 91.4 $ 242.2 $ 573.3 Ireland 132.4 — 78.7 — — 211.1 United Kingdom — 5.3 — — — 5.3 Total $ 328.1 $ 49.3 $ 78.7 $ 91.4 $ 242.2 $ 789.7 The following table details the Company's unconsolidated investments by investment type and geographic location as of December 31, 2017 : (Dollars in millions) Multifamily Commercial Funds Residential and Other Total Western U.S. $ 199.7 $ 42.1 $ 85.3 $ 179.8 $ 506.9 United Kingdom — 9.9 — — 9.9 Japan 2.5 — — — 2.5 Total $ 202.2 $ 52.0 $ 85.3 $ 179.8 $ 519.3 During the nine months ended September 30, 2018 , multifamily investments increased due to the joint venture with AXA in Ireland described in Note 4 which was offset by the sales of a multifamily property and a multifamily development site in the Western United States. Commercial investments decreased due to the sale of an office property. Fund investments increased due to contributions to Kennedy Wilson Real Estate Fund V, LP ("Fund V") and Kennedy Wilson Real Estate Fund VI, LP ("Fund VI") and p erformance-based carried interest allocations, which were partially offset by asset sales. Residential and other investments increased due to an increased ownership interest in a development project in Hawaii and capital expenditures on active developments, which were offset by condominium unit and lot sales. Vintage Housing Holdings ("VHH") Through our VHH partnership we develop and acquire properties that provide affordable housing for seniors and families. The VHH portfolio includes over 6,500 rental units with approximately another 2,000 units currently under development or undergoing entitlements in the Western United States. VHH typically utilizes tax-exempt bond financing and the sale of federal tax credits to help finance its investments. The Company accounts for its investment under the equity method as it does not control the investment and has elected the fair value option on its unconsolidated investment in VHH. As of September 30, 2018 and December 31, 2017 , the carrying value in VHH was $111.0 million and $114.8 million , respectively. The partnerships generate cash flow through their interests in entities owning multifamily housing that is predominantly structured with tax-exempt bond financing and federal tax credits. The total equity income recognized was $7.0 million and $22.6 million during the three and nine months ended September 30, 2018 , respectively, and $5.6 million and $21.3 million , during three and nine months ended September 30, 2017 , respectively, and was comprised of fair value gains and operating distributions. Fair value gains recognized through equity income were $5.2 million and $17.3 million for the three and nine months ended September 30, 2018 , respectively and $3.7 million and $16.1 million during the three and nine months ended September 30, 2017 , respectively. 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 that are sold to a new tax credit 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. Operating distributions recognized through equity income were $1.8 million and $5.3 million for the three and nine months ended September 30, 2018 , respectively, and $1.9 million and $5.1 million for the three and nine months ended September 30, 2017 , respectively. Performance Fees During the three and nine months ended September 30, 2018 , there was $7.6 million and $24.7 million , respectively, of performance fees recorded as a component of income from unconsolidated investments. During the three and nine months ended September 30, 2017 , there were $4.7 million and $8.6 million , respectively, of performance fees that were previously presented as a component of investment management, property services and research fees and have been reclassified to income from unconsolidated investments in the current year presentation. Contributions to Joint Ventures During the nine months ended September 30, 2018 , Kennedy Wilson contributed $293.1 million to joint ventures, of which $131.8 million was related to the AXA Joint Venture, $79.1 million was related to a mixed-use development project in Ireland, $30.2 million was related to increasing our ownership interest in a development project in Hawaii, and $15.0 million was related to Kennedy Wilson Real Estate Fund VI, LP with the balance to fund the Company's share of development projects, capital expenditures and working capital needs. Distributions from Joint Ventures During the nine months ended September 30, 2018 , Kennedy Wilson received $81.7 million in operating and investing distributions from its joint ventures. The following table details cash distributions by investment type and geographic location for the nine months ended September 30, 2018 : Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 21.2 $ 27.5 $ 1.3 $ 2.3 $ 10.4 $ 10.9 $ 0.7 $ 5.1 $ 33.6 $ 45.8 Japan 0.1 2.2 — — — — — — 0.1 2.2 Total $ 21.3 $ 29.7 $ 1.3 $ 2.3 $ 10.4 $ 10.9 $ 0.7 $ 5.1 $ 33.7 $ 48.0 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. Capital Commitments As of September 30, 2018 , Kennedy Wilson had unfulfilled capital commitments totaling $46.6 million to four of its joint ventures, primarily closed-end funds managed by Kennedy Wilson, 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	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION	FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of September 30, 2018 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 597.7 $ 597.7 Net currency derivative contracts — (56.2 ) — (56.2 ) Total $ — $ (56.2 ) $ 597.7 $ 541.5 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, 2017 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 380.7 $ 380.7 Marketable securities 7.5 — — 7.5 Net currency derivative contracts — (100.9 ) — (100.9 ) Total $ 7.5 $ (100.9 ) $ 380.7 $ 287.3 Unconsolidated Investments Kennedy Wilson elected to use the fair value option ("FV Option") for twenty-one 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 $506.3 million and $295.4 million at September 30, 2018 and December 31, 2017 , respectively, which is included in unconsolidated investments in the accompanying balance sheets. As referenced in Note 4, the Company entered into a joint venture agreement targeting multifamily assets in Ireland with AXA. The Company has elected the FV Option on its interest in the joint venture agreement and will record the investment at fair value going forward. There were no changes recorded in the current period. Additionally, Kennedy Wilson records its investments in Kennedy Wilson Real Estate Fund IV, Fund V and Fund VI (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. During the third quarter of 2018 Fund IV disposed its final investment. Kennedy Wilson’s investment balance in the Funds was $91.4 million and $85.3 million at September 30, 2018 and December 31, 2017 , respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets. As of September 30, 2018 , Kennedy Wilson had unfunded capital commitments to the Funds in the amount of $38.0 million . In estimating fair value of real estate held by the Funds and the 21 FV Option investments, the Company considers significant unobservable inputs such as capitalization and discount rates. The following table summarizes the Company's investments in unconsolidated investments held at fair value by type: (Dollars in millions) September 30, 2018 December 31, 2017 FV Option $ 506.3 $ 295.4 Funds 91.4 85.3 Total $ 597.7 $ 380.7 The following table presents changes in Level 3 investments in Funds and FV Options for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2018 2017 2018 2017 Beginning balance $ 478.3 $ 361.9 $ 380.7 $ 356.7 Unrealized and realized gains 31.6 16.0 69.8 47.5 Unrealized and realized losses (8.1 ) — (14.3 ) (0.8 ) Contributions 131.3 22.4 247.3 47.5 Distributions (10.2 ) (21.4 ) (60.5 ) (95.9 ) Other (25.2 ) (0.1 ) (25.3 ) 23.8 Ending balance $ 597.7 $ 378.8 $ 597.7 $ 378.8 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 Multifamily 4.75% - 7.75% 8.00% - 9.75% Office 4.50% - 6.75% 7.00% - 8.75% Retail 5.25% - 9.50% 6.50% - 11.50% Residential N/A 12.00% - 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 by Kennedy Wilson for these types of investments range from 1.29% to 3.46% . 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 and may not be realized in a current sale or immediate settlement of the asset or liability. Additionally, there are inherent uncertainties in any fair value measurement technique, and changes in the underlying assumptions used, including capitalization rates, discount rates, liquidity risks, and estimates of future cash flows could significantly affect the fair value measurement amounts. Currency Derivative Contracts Kennedy Wilson uses foreign currency derivative contracts such as forward contracts and options to manage its foreign currency risk exposure against the effects of a portion of its certain non-U.S. dollar denominated currency net investments. Foreign currency options are valued using a variant of the Black-Scholes model tailored for currency derivatives and the foreign currency forward contracts are valued based on the difference between the contract rate and the forward rate at maturity of the underlying currency applied to the notional value in the underlying currency discounted at a market rate for similar risks. Although the Company has determined that the majority of the inputs used to value its currency derivative contracts fall within Level 2 of the fair value hierarchy, the counterparty risk adjustments associated with the currency derivative contracts utilize Level 3 inputs. However, as of September 30, 2018 , Kennedy Wilson 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 accumulated other comprehensive income (loss) in the accompanying consolidated statements of comprehensive income (loss) as the portion of the currency forward and option contracts used to hedge currency exposure of its certain consolidated subsidiaries qualifies as a net investment hedge under FASB ASC Topic 815. The fair value of the currency derivative contracts held as of September 30, 2018 and December 31, 2017 are reported in other assets for hedge assets and included in accrued expenses and other liabilities for hedge liabilities on the accompanying balance sheet. The table below details the currency derivative contracts Kennedy Wilson held as of September 30, 2018 and the activity during the nine months ended September 30, 2018 . For the nine months ended September 30, 2018 , Kennedy Wilson had a gross foreign currency translation loss on its net assets of $47.4 million . See Note 11 for a complete discussion on other comprehensive income including currency derivative contracts and foreign currency translations. (Dollars, Euros and British Pound Sterlings in millions) September 30, 2018 Nine Months Ended September 30, 2018 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized Gains (Losses) Realized Gains (Losses) Cash Received (Paid) Outstanding EUR USD € 175.0 $ — $ (5.2 ) $ (2.8 ) $ (2.4 ) $ — EUR (1) GBP € 310.8 — (70.0 ) 0.1 — — EUR (1)(2) GBP — — (1.6 ) — — GBP USD £ 600.3 21.2 (2.1 ) 24.6 — (0.8 ) Total Outstanding 21.2 (77.3 ) 20.3 (2.4 ) (0.8 ) Settled EUR (4) USD — — (1.5 ) 23.1 14.4 GBP USD — — 3.5 0.7 (6.7 ) Total Settled — — 2.0 23.8 7.7 Total $ 21.2 $ (77.3 ) $ 22.3 (3) $ 21.4 $ 6.9 (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) Excludes deferred tax benefit of $8.1 million and $2.8 million of amounts reclassified out of OCI relating to deferred taxes (4) Amounts associated with investments that were part of AXA transaction. Amounts reclassified out of OCI to gain on sale of real estate. The gains recognized through other comprehensive income will remain in accumulated other comprehensive income until the underlying investments that they were hedging are substantially liquidated by Kennedy Wilson. Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable including related party receivables, accounts payable, accrued expenses and other liabilities, accrued salaries and benefits, and deferred and accrued income taxes approximate fair value due to their short-term maturities. The carrying value of loans (excluding related party loans as they are presumed not to be an arm’s length transaction) approximates fair value as the terms are similar to loans with similar characteristics available in the market. Debt liabilities are accounted for at face value plus net unamortized debt premiums and any fair value adjustments as part of business combinations. The fair value as of September 30, 2018 and December 31, 2017 for the mortgages, Kennedy Wilson unsecured debt, and KWE unsecured bonds were estimated to be approximately $5.4 billion and $5.8 billion , respectively, based on a comparison of the yield that would be required in a current transaction, taking into consideration the risk of the underlying collateral and the Company's credit risk to the current yield of a similar security, compared to their carrying value of $5.4 billion and $5.7 billion at September 30, 2018 and December 31, 2017 , respectively. The inputs used to value the Company's mortgages, Kennedy Wilson unsecured debt, and KWE unsecured bonds are based on observable inputs for similar assets and quoted prices in markets that are not active and are therefore determined to be Level 2 inputs.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following: (Dollars in millions) September 30, 2018 December 31, 2017 Above-market leases, net of accumulated amortization of $48.9 and $44.3 at September 30, 2018 and December 31, 2017, respectively $ 46.2 $ 63.1 Development project asset 41.1 55.3 Furniture and equipment net of accumulated depreciation of $38.5 and $35.8 at September 30, 2018 and December 31, 2017, respectively 33.6 44.3 Straight line rent 32.5 24.0 Goodwill 23.9 23.9 Hedge assets 21.2 2.4 Prepaid expenses 17.8 13.3 Leasing commissions, net of accumulated amortization of $3.3 and $2.2 at September 30, 2018 and December 31, 2017, respectively 11.8 10.1 Other, net of accumulated amortization of $2.7 and $2.6 at September 30, 2018 and December 31, 2017, respectively 11.3 10.7 Marketable securities — 7.5 VAT receivable 4.4 5.0 Deposits 3.0 3.5 Other Assets $ 246.8 $ 263.1 Development Project Asset On May 12, 2017, Kennedy Wilson and its equity partners (the “Capital Dock JV”) sold 200 Capital Dock, a 130,000 ft. mixed-use building under construction in Dublin, Ireland. Concurrently with the transaction, the Capital Dock JV entered into a development agreement with the buyer to complete the construction of 200 Capital Dock. The development agreement provides that upon certain events (including the insolvency of the Capital Dock JV and certain delivery deadlines not being met), the buyer may exercise a right to take over the construction of the project. Because the construction process is not complete, but the cost and profit are reasonably estimated, the Company recognizes revenue on this project under the percentage-of-completion method for the sale of the building. Under the percentage-of-completion method, there was $25.0 million of sale of real estate and $22.2 million of cost of real estate sold reported in the consolidated statement of operations related to the sale of 200 Capital Dock during the nine months ended September 30, 2018 . Consequently, the "development project asset" represents the basis that has not yet been relieved under the percentage of completion method. The decrease during the period was due to the Company receiving a $38.9 million milestone payment from the buyer. The remaining revenue and cost will be reported under the percentage-of-completion method through completion of construction, which is expected to continue until the fourth quarter of 2018. In the event that the buyer exercises its right to take over the construction of the project under the circumstances described above, the Capital Dock JV will receive a reduced amount of proceeds from this transaction.

Mortgage Debt

Mortgage Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
MORTGAGE DEBT	MORTGAGE DEBT The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of September 30, 2018 and December 31, 2017 : (Dollars in millions) Carrying amount of mortgage debt as of (1) Mortgage Debt by Product Type Region September 30, 2018 December 31, 2017 Multifamily (1) Western U.S. $ 1,244.5 $ 1,227.5 Commercial (1) United Kingdom 510.7 583.2 Commercial (1) Ireland 524.5 505.0 Commercial Western U.S. 384.6 370.7 Multifamily (1) Ireland 12.0 263.2 Commercial Spain 91.6 95.5 Hotel Ireland 83.5 86.4 Hotel Western U.S. 38.1 49.0 Mortgage debt (excluding loan fees) (1) 2,889.5 3,180.5 Unamortized loan fees (17.3 ) (23.9 ) Total Investment Debt $ 2,872.2 $ 3,156.6 (1) The mortgage 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 September 30, 2018 and December 31, 2017 was $2.0 million and $2.4 million , respectively. The mortgage debt had a weighted average interest rate of 3.42% and 3.35% per annum as of September 30, 2018 and December 31, 2017 , respectively. As of September 30, 2018 , 68% of Kennedy Wilson's property level debt was fixed rate, 20% was floating rate with interest caps and 12% was floating rate without interest caps, compared to 74% of Kennedy Wilson's consolidated property level debt was fixed rate, 8% was floating rate with interest caps and 18% was floating rate without interest caps, as of December 31, 2017 . The weighted average strike price on caps of Kennedy Wilson's variable rate mortgages is 2.57% as of September 30, 2018 . Mortgage Loan Transactions and Maturities During the nine months ended September 30, 2018 , five acquisitions were partially financed with mortgages and eleven existing mortgages were refinanced. See Note 4 for more detail on the acquisitions and the mortgage debt associated with them. The aggregate maturities of mortgage loans subsequent to September 30, 2018 are as follows: (Dollars in millions) Aggregate Maturities 2018 $ 10.5 2019 286.7 2020 146.1 2021 170.7 2022 365.1 Thereafter 1,908.4 2,887.5 Debt premium 2.0 Unamortized loan fees (17.3 ) Total Mortgage Debt $ 2,872.2

KW Unsecured Debt

KW Unsecured Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
KW UNSECURED DEBT	KW UNSECURED DEBT The following table details KW unsecured debt as of September 30, 2018 and December 31, 2017 : (Dollars in millions) September 30, 2018 December 31, 2017 Credit facility $ 125.0 $ 300.0 Senior notes (1) 1,145.1 898.1 KW unsecured debt 1,270.1 1,198.1 Unamortized loan fees (19.5 ) (18.7 ) Total KW Unsecured Debt $ 1,250.6 $ 1,179.4 (1) The senior notes balances include unamortized debt discounts. Debt 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 September 30, 2018 and December 31, 2017 was $4.9 million and $1.9 million , respectively. Borrowings Under Credit Facilities The Company, through a wholly-owned subsidiary, has a $700 million unsecured revolving credit and term loan facility (the "A&R Facility"). The A&R Facility is comprised of a $500 million revolving line of credit and a $200 million term loan facility. Loans under the revolving line of credit bear interest at a rate equal to LIBOR plus between 1.75% and 2.75% , depending on the consolidated leverage ratio as of the applicable measurement date. Loans under the term loan facility bear interest at a rate equal to LIBOR plus between 1.65% and 2.65% , depending on the consolidated leverage ratio as of the applicable measurement date. The A&R Facility has a maturity date of March 31, 2021. Subject to certain conditions precedent and at Kennedy-Wilson, Inc.’s ("the Borrower") option, the maturity date of the A&R Facility may be extended by one year . The A&R Facility has certain covenants as defined within its Amended and Restated Credit Agreement, dated as of October 20, 2017 (the "Credit Agreement") that, among other things, limit the Company 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 requires the Company 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 1.70 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 $1,066,775,300 plus an amount equal to fifty percent ( 50% ) of net equity proceeds received by the Company after the date of the most recent financial statements that are available as of the Closing Date, 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 3.5% of consolidated total asset value (as defined in the Credit Agreement) and $300,351,000 , (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 $75.0 million . As of September 30, 2018 , the Company was in compliance with these covenants. During the nine months ended September 30, 2018 , the Borrower drew $225.0 million and repaid $400.0 million on the A&R Facility. Of the $400.0 million that was repaid, $325.0 million was related to the revolving line of credit and $75.0 million was for the term loan facility. The amount repaid on the term loan facility cannot be drawn again. The maximum amount drawn on the A&R Facility at any one point during the nine months ended September 30, 2018 was $375.0 million . As of September 30, 2018 , the Company had an outstanding balance of $125.0 million on the A&R Facility with $500.0 million available to be drawn under the revolving credit facility. The average outstanding borrowings under credit facilities was $206.9 million during the nine months ended September 30, 2018 . Senior Notes On March 2, 2018, Kennedy Wilson, Inc., (the "Issuer") completed an additional private offering of $250 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 $900 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 cash offering price of 98.625% of their principal amount, plus accrued and unpaid interest from, and including, October 1, 2017. The indenture governing the Notes contains 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, make restricted payments, pay dividends or make any other distributions from restricted subsidiaries, redeem or repurchase capital stock, sell assets or subsidiary stocks, engage in transactions with affiliates, create or permit liens on assets, enter into sale/leaseback transactions, and enter into consolidations or mergers. The indenture governing the Notes limits 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 , subject to certain exceptions. As of September 30, 2018 , the maximum balance sheet leverage ratio was 1.08 to 1.00 . See Note 15 for the guarantor and non-guarantor financial statements.

KWE Unsecured Bonds

KWE Unsecured Bonds	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
KWE UNSECURED BONDS	KWE UNSECURED BONDS The following table details KWE unsecured bonds as of September 30, 2018 and December 31, 2017 : (Dollars in millions) September 30, 2018 December 31, 2017 KWE Bonds $ 651.5 $ 675.6 KWE Euro Medium Term Note Programme 635.6 655.7 KWE Unsecured Bonds (excluding loan fees) (1) 1,287.1 1,331.3 Unamortized loan fees (4.6 ) (5.4 ) Total KWE Unsecured Bonds $ 1,282.5 $ 1,325.9 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt 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 discount as of September 30, 2018 and December 31, 2017 was $3.8 million and $4.3 million , respectively. KWE has £500 million of 3.95% fixed-rate senior unsecured bonds due 2022 that have a carrying value of $651.5 million and $675.6 million as of September 30, 2018 and December 31, 2017 , respectively. 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, KWE has a £2.0 billion (approximately $2.6 billion based on September 30, 2018 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. KWE issued senior unsecured notes for an aggregate principal amount of approximately $638.2 million (based on September 30, 2018 rates) ( €550 million ) (the "KWE Notes"). The KWE Notes were issued at a discount and have a carrying value of $635.6 million , with an annual fixed coupon of 3.25% and mature in 2025 . As KWE invests proceeds from the KWE Notes to fund equity investments in new euro denominated assets, KWE designates the KWE Notes as net investment hedges under FASB ASC Topic 815. Subsequent fluctuations in foreign currency rates that impact the carrying value of the KWE Notes are recorded to accumulated other comprehensive income. During the nine months ended September 30, 2018 , Kennedy Wilson recognized a loss of $1.6 million in accumulated other comprehensive income due to the strengthening of the euro against the GBP during the period. The KWE Notes rank pari passu with the KWE Bonds and are subject to the same restrictive covenants. The trust deed that governs the bonds contains various restrictive covenants for KWE, including, among others, limitations on KWE’s and its material subsidiaries’ ability to provide certain negative pledges. The trust deed limits the ability of KWE and its subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the incurrence of the new indebtedness, (1) KWE’s consolidated net indebtedness (as defined in the trust deed) would exceed 60% of KWE’s total assets (as calculated pursuant to the terms of the trust deed); and (2) KWE’s consolidated secured indebtedness (as defined in the trust deed) would exceed 50% of KWE’s total assets (as calculated pursuant to the terms of the trust deed). The trust deed also requires KWE, as of each reporting date, to maintain an interest coverage ratio (as defined in the trust deed) of at least 1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed). As of September 30, 2018 , KWE was in compliance with these covenants.

Equity

Equity	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
EQUITY	EQUITY Common Stock Repurchase Program On March 20, 2018, the Company announced a $250.0 million stock repurchase plan authorized by its board of directors. Repurchases under the program may be made in the open market, in privately negotiated transactions, through the net settlement of the Company’s restricted stock grants or otherwise, with the amount and timing of repurchases dependent on market conditions and subject to the company’s discretion. Kennedy Wilson had a $100 million stock repurchase program that expired on February 25, 2018. During the nine months ended September 30, 2018 , Kennedy Wilson repurchased and retired 8,488,141 shares for $153.3 million under the stock repurchase program. During the nine months ended September 30, 2017 , Kennedy Wilson repurchased and retired 77,155 shares for $1.6 million under the previous stock repurchase program. Dividend Distributions During the following periods, Kennedy Wilson declared and paid the following cash distributions on its common stock: Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 (Dollars in millions) Declared Paid Declared Paid Common Stock (1) $ 83.4 $ 84.2 $ 58.6 $ 57.1 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets. Share-based Compensation During the three months ended September 30, 2018 and 2017 , Kennedy Wilson recognized $9.2 million and $9.3 million of compensation expense related to the vesting of restricted stock grants. During the nine months ended September 30, 2018 and 2017 , Kennedy Wilson recognized $27.9 million and $29.4 million of compensation expense related to the vesting of restricted stock grants. The decrease for the three and nine months ended September 30, 2018 is primarily due to the increased number of shares that fully vested in 2017 as a result of a cliff-vesting event. Generally, upon vesting, the restricted stock granted to employees is net share-settled such that the Company will withhold shares with value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes, and remit the cash to the appropriate taxing authorities. Only a certain amount of the restricted shares that vested during the nine months ended September 30, 2018 were net share settled. The employees' minimum statutory obligation for the restricted shares that were not net share-settled were funded by the employees and remitted to the appropriate taxing authorities. However, all of the restricted shares that vested during 2017 were net-share settled. The total shares withheld during the nine months ended September 30, 2018 and 2017 were 380,768 shares and 1,460,251 shares, respectively. During the nine months ended September 30, 2018 and 2017 , total payments for the employees’ tax obligations to the taxing authorities for the shares which were net-share settled were $6.8 million and $34.0 million , respectively. These activities are reflected as a financing activity within Kennedy Wilson's consolidated statements of cash flows. Accumulated Other Comprehensive Income The following table summarizes the changes in each component of accumulated other comprehensive loss, net of taxes: (Dollars in millions) Foreign Currency Translation Currency Derivative Contracts Marketable Securities Total Accumulated Other Comprehensive Loss (1) Balance at December 31, 2017 $ (46.6 ) $ (22.2 ) $ 0.1 $ (68.7 ) Unrealized (losses) gains, arising during the period (47.4 ) 30.1 — (17.3 ) Amounts reclassified out of AOCI during the period, gross 22.5 (7.8 ) (0.2 ) 14.5 Amounts reclassified out of AOCI during the period, taxes (4.2 ) 2.8 0.1 (1.3 ) Noncontrolling interest (5.1 ) — — (5.1 ) Deferred taxes on unrealized gains (losses), arising during the period 1.0 (8.1 ) — (7.1 ) Balance at September 30, 2018 $ (79.8 ) $ (5.2 ) $ — $ (85.0 ) (1) As a result of the KWE Transaction the Company was required to record inception to date accumulated other comprehensive losses of $358.4 million associated with noncontrolling interest holders of KWE. This amount has been excluded from the beginning and ending balances of the table to give a more appropriate depiction of the Company's accumulated other comprehensive loss activity. If this amount is included, the accumulated other comprehensive loss would be $443.4 million and $427.1 million as of September 30, 2018 and December 31, 2017 , respectively. The local currencies for the Company's interests in foreign operations include the euro and the British pound sterling. The related amounts on Kennedy Wilson's balance sheets are translated into U.S. dollars at the exchange rates at the respective financial statement date, while amounts on its statements of operations are translated at the average exchange rates during the respective period. The increase in the unrealized losses on foreign currency translation is a result of the strengthening of the U.S. dollar against the euro and the British pound during the nine months ended September 30, 2018 . 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. It is helpful 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 . In order to manage currency fluctuations, Kennedy Wilson entered into currency derivative contracts to manage its exposure to currency fluctuations between its functional currency (U.S. dollar) and the functional currency (euro and the British pound) of certain of its wholly-owned and consolidated subsidiaries. See Note 6 for a more detailed discussion of Kennedy Wilson's currency derivative contracts. Noncontrolling Interests Noncontrolling interests consist of the ownership interests of noncontrolling shareholders in consolidated subsidiaries and are presented separately on Kennedy Wilson's balance sheet. As of September 30, 2018 and December 31, 2017 , Kennedy Wilson had noncontrolling interest of $188.8 million and $211.9 million , respectively. The decrease in noncontrolling interest for the year is primarily due to the deconsolidation of six properties in the AXA Joint Venture. See Note 4 for additional details.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE In accordance with FASB ASC Topic 260-10-45, Earnings Per Share , the Company uses the two-class method to calculate earnings per share. Basic earnings per share is calculated based on dividends declared (“distributed earnings”) and the rights of common shares and participating securities in any undistributed earnings, which represents net income remaining after deduction of dividends declared during the period. Participating securities, which include unvested restricted stock, are included in the computation of earnings per share pursuant to the two-class method. The undistributed earnings are allocated to all outstanding common shares and participating securities based on the relative percentage of each security to the total number of outstanding securities. Basic earnings per common share and participating securities represent the summation of the distributed and undistributed earnings per common share and participating security divided by the total weighted average number of common shares outstanding and the total weighted average number of participating securities outstanding during the respective periods. The Company only presents the earnings per share attributable to the common shareholders. Net losses, after deducting the dividends to participating securities, are allocated in full to the common shares since the participating security holders do not have an obligation to share in the losses, based on the contractual rights and obligations of the participating securities. The following is a summary of the elements used in calculating basic and diluted income (loss) per share for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions, except share and per share amounts) 2018 2017 2018 2017 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 12.1 $ (8.9 ) $ 119.3 $ 1.3 Dividends allocated to participating securities (0.2 ) (0.2 ) (0.8 ) (0.7 ) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities 11.9 (9.1 ) 118.5 0.6 Dividends declared on common shares (27.2 ) (19.3 ) (82.9 ) (57.9 ) Undistributed earnings (losses) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ (15.3 ) $ (28.4 ) $ 35.6 $ (57.3 ) Distributed earnings per share $ 0.19 $ 0.17 $ 0.57 $ 0.52 Undistributed earnings (losses) per share (0.10 ) (0.25 ) 0.26 (0.51 ) Income per basic and diluted share 0.09 (0.08 ) 0.83 0.01 Weighted average shares outstanding for basic 141,003,413 111,966,716 143,450,695 111,955,924 Weighted average shares outstanding for diluted (1) 141,800,972 111,966,716 144,516,045 111,955,924 Dividends declared per common share $ 0.19 $ 0.17 $ 0.57 $ 0.51 (1) For the three and nine months ended September 30, 2018 , a total of 115,395 and 0 , respectively, potentially dilutive securities have not been included in the diluted weighted average shares as they are anti-dilutive. For the three and nine months ended September 30, 2017 , a total of 1,145,032 and 1,028,565 , respectively, potentially dilutive securities have not been included in the diluted weighted average shares as they are anti-dilutive. Potentially anti-dilutive securities include unvested restricted stock grants.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2018
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 its 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 and Italy. The Company has an average ownership interest across all investments of approximately 62% as of September 30, 2018 . When it has partners, those partners include 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 interest in the profits of its investments beyond the Company's ownership percentage. These promoted interests are typically fees earned by IMRES as described below. KW Investment Management and Real Estate Services (IMRES) IMRES encompasses the Company's fee generating businesses that includes both the Company's investment management platform as well as the Company's third-party services business. The Company's clients include 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 through fees and commissions. The Company manages approximately 51 million square feet of properties for the Company and its investment partners in the United States and Europe, which includes assets the Company has ownership interests in and third party owned assets. With 26 offices throughout the United States, the United Kingdom, Ireland, Jersey, Spain and Japan, the Company has the capabilities and resources to provide investment management and property services to real estate owners and the experience as a real estate investor to understand client concerns. The managers of IMRES have an extensive track record in their respective lines of business and in the real estate community as a whole. Additionally, IMRES plays a critical role in supporting the Company's investment strategy by providing local market intelligence and real-time data for evaluating investments, generating proprietary transaction flow and creating value through efficient implementation of asset management or repositioning strategies. The following tables summarize income activity by segment and corporate for the three and nine months ended September 30, 2018 and 2017 and balance sheet data as of September 30, 2018 and December 31, 2017 : Three Months Ended September 30, 2018 (Dollars in millions) Investments Investment Management and Real Estate Services Corporate Total Revenue Rental $ 123.4 $ — $ — $ 123.4 Hotel 43.5 — — 43.5 Sale of real estate 6.5 — — 6.5 Investment management, property services and research fees — 12.4 — 12.4 Loan purchases, loan originations and other — — — — Total revenue 173.4 12.4 — 185.8 Operating expenses Rental operating 38.2 — — 38.2 Hotel operating 30.6 — — 30.6 Cost of real estate sold 5.8 — — 5.8 Commission and marketing — 1.1 — 1.1 Compensation and related 15.8 8.4 14.1 38.3 General and administrative 7.0 3.2 1.5 11.7 Depreciation and amortization 51.4 0.1 — 51.5 Total operating expenses 148.8 12.8 15.6 177.2 Income from unconsolidated investments, net of depreciation and amortization 16.3 7.7 — 24.0 Operating income (loss) 40.9 7.3 (15.6 ) 32.6 Non-operating income (expense) Gain on sale of real estate, net 39.4 — — 39.4 Acquisition-related expenses (0.4 ) — — (0.4 ) Interest expense (36.6 ) — (18.6 ) (55.2 ) Other income 0.1 — 3.3 3.4 Provision for income taxes (10.6 ) — 3.7 (6.9 ) Total non-operating income (loss) (8.1 ) — (11.6 ) (19.7 ) Net income (loss) 32.8 7.3 (27.2 ) 12.9 Net income attributable to noncontrolling interests (0.8 ) — — (0.8 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 32.0 $ 7.3 $ (27.2 ) $ 12.1 Nine Months Ended September 30, 2018 (Dollars in millions) Investments Investment Management and Real Estate Services Corporate Total Revenue Rental $ 392.6 $ — $ — $ 392.6 Hotel 117.6 — — 117.6 Sale of real estate 48.7 — — 48.7 Investment management, property services and research fees — 34.8 — 34.8 Loan purchases, loan originations and other 1.1 — — 1.1 Total revenue 560.0 34.8 — 594.8 Operating expenses Rental operating 119.5 — — 119.5 Hotel operating 90.8 — — 90.8 Cost of real estate sold 45.6 — — 45.6 Commission and marketing — 4.6 — 4.6 Compensation and related 52.2 26.1 44.5 122.8 General and administrative 22.6 9.3 4.7 36.6 Depreciation and amortization 158.5 0.2 — 158.7 Total operating expenses 489.2 40.2 49.2 578.6 Income from unconsolidated investments, net of depreciation and amortization 36.1 24.8 — 60.9 Operating income (loss) 106.9 19.4 (49.2 ) 77.1 Non-operating income (expense) Gain on sale of real estate, net 304.2 — — 304.2 Acquisition-related expenses (0.6 ) — — (0.6 ) Interest expense (123.4 ) — (57.9 ) (181.3 ) Other income 0.4 — 13.1 13.5 Provision for income taxes (10.6 ) — (23.1 ) (33.7 ) Total non-operating gain (loss) 170.0 — (67.9 ) 102.1 Net income (loss) 276.9 19.4 (117.1 ) 179.2 Net income attributable to noncontrolling interests (59.9 ) — — (59.9 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 217.0 $ 19.4 $ (117.1 ) $ 119.3 Three Months Ended September 30, 2017 (Dollars in millions) Investments Investment Management and Real Estate Services Corporate Total Revenue Rental $ 125.5 $ — $ — $ 125.5 Hotel 37.3 — — 37.3 Sale of real estate 89.8 — — 89.8 Investment management, property services and research fees — 11.4 — 11.4 Loan purchases, loan originations and other 8.5 — — 8.5 Total revenue 261.1 11.4 — 272.5 Operating expenses Rental operating 38.0 — — 38.0 Hotel operating 26.1 — — 26.1 Cost of real estate sold 63.4 — — 63.4 Commission and marketing — 2.1 — 2.1 Compensation and related 12.8 9.0 13.6 35.4 General and administrative 6.6 3.0 1.2 10.8 Depreciation and amortization 55.4 — — 55.4 Total operating expenses 202.3 14.1 14.8 231.2 Income (loss) from unconsolidated investments, net of depreciation and amortization 12.7 4.9 — 17.6 Operating income (loss) 71.5 2.2 (14.8 ) 58.9 Non-operating income (expense) Gain on sale of real estate, net 5.3 — — 5.3 Acquisition-related expenses (1.0 ) — — (1.0 ) Interest expense (37.9 ) — (18.9 ) (56.8 ) Other (expense) income (2.9 ) — 2.6 (0.3 ) Provision for income taxes (1.4 ) — 5.1 3.7 Total non-operating income (loss) (37.9 ) — (11.2 ) (49.1 ) Net income (loss) 33.6 2.2 (26.0 ) 9.8 Net income attributable to noncontrolling interests (18.7 ) — — (18.7 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 14.9 $ 2.2 $ (26.0 ) $ (8.9 ) Nine Months Ended September 30, 2017 (Dollars in millions) Investments Investment Management and Real Estate Services Corporate Total Revenue Rental $ 373.6 $ — $ — $ 373.6 Hotel 95.8 — — 95.8 Sale of real estate 103.4 — — 103.4 Investment management, property services and research fees — 32.7 — 32.7 Loan purchases, loan originations and other 15.0 — — 15.0 Total revenue 587.8 32.7 — 620.5 Operating expenses Rental operating 110.5 — — 110.5 Hotel operating 73.3 — — 73.3 Cost of real estate sold 73.7 — — 73.7 Commission and marketing — 5.9 — 5.9 Compensation and related 42.9 27.5 43.1 113.5 General and administrative 18.4 8.8 3.5 30.7 Depreciation and amortization 157.2 — — 157.2 Total operating expenses 476.0 42.2 46.6 564.8 Income from unconsolidated investments, net of depreciation and amortization 46.9 10.5 — 57.4 Operating income (loss) 158.7 1.0 (46.6 ) 113.1 Non-operating income (expense) Gain on sale of real estate, net 77.0 — — 77.0 Acquisition-related expenses (2.3 ) — — (2.3 ) Interest expense (107.8 ) — (51.1 ) (158.9 ) Other income (2.4 ) — 7.0 4.6 Provision for income taxes (3.7 ) — 2.8 (0.9 ) Total non-operating loss (39.2 ) — (41.3 ) (80.5 ) Net income (loss) 119.5 1.0 (87.9 ) 32.6 Net income attributable to noncontrolling interests (31.3 ) — — (31.3 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 88.2 $ 1.0 $ (87.9 ) $ 1.3 (Dollars in millions) September 30, 2018 December 31, 2017 Total assets Investments $ 7,126.4 $ 7,563.7 Investment management and real estate services 84.7 70.5 Corporate 170.3 90.6 Total assets $ 7,381.4 $ 7,724.8

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We derive a significant portion of our income from the rental and sale of real property. As a result, a substantial portion of our foreign earnings is subject to U.S. taxation under certain provisions the Internal Revenue Code of 1986, as amended, applicable to controlled foreign corporations ("Subpart F"). In determining the 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 reflects the impact of Subpart F inclusions, income allocated to noncontrolling interests which is generally not subject to corporate tax as well as the Company's tax adjustments associated with uncertain tax positions. During the nine months ended September 30, 2018 , Kennedy Wilson generated pretax book income of $212.9 million related to its global operations and recorded a tax expense of $33.7 million or 15.8% . The difference between the U.S. federal corporate income tax rate of 21% and the Company's effective rate is primarily attributable to income allocated to non-controlling interests which is not subject to corporate tax. During the nine months ended September 30, 2018, Kennedy Wilson elected to treat KWE as a partnership for U.S. tax purposes retroactive to December 29, 2017. Due to unrealized foreign exchange losses not yet deductible for tax purposes and the consideration paid to acquire the non-controlling interests in KWE exceeding the book carrying value of the non-controlling interests in KWE, the Company’s tax basis in KWE exceeded its book carrying value at December 29, 2017 and at each reporting period thereafter. Prior to the election to treat KWE as a partnership, KWE was taxed as a controlled foreign corporation. As a controlled foreign corporation, the Company was precluded from recognizing a deferred tax asset for its tax basis in excess of book carrying value for its investment in KWE as the excess tax basis from the investment was not expected to reverse in the foreseeable future. However, as a result of the conversion of KWE to a partnership for U.S. tax purposes, the Company was required to record a deferred tax asset related to its excess tax basis over book carrying value for its investment in KWE. As a significant portion of the excess tax basis would only reverse upon a strengthening of foreign currencies or upon a disposition of KWE or the majority of its assets, the Company determined that a full valuation allowance was appropriate. During the nine months ended September 30, 2018, the movements in the deferred tax asset and related valuation allowance did not have a material impact on the tax provision. U.S. tax reform legislation, commonly referred to as the Tax Cuts and Jobs Act (the “Tax Bill”), was signed into law on December 22, 2017. The Tax Bill amends a range of U.S. federal tax rules applicable to individuals, businesses, and international taxation with most provisions taking effect beginning January 1, 2018. These changes include lowering the federal corporate income tax rate from 35% to 21% and imposing a repatriation tax on deemed repatriated earnings of foreign subsidiaries. Due to the nature of our business operations, a majority of our foreign income is taxed currently in the U.S. For those foreign subsidiaries where there is no current U.S. tax inclusion, we have estimated that no repatriation tax is due as those foreign subsidiaries do not have aggregate positive unrepatriated foreign earnings. We made reasonable estimates of the effects of the Tax Bill and recorded a provisional tax benefit of $44.8 million related to the remeasurement of deferred tax balances as of December 31, 2017 . The Tax Bill contains many new and complex domestic and international tax provisions and state conformity to the new legislation is uncertain. As we gather additional data and review further guidance that might be issued by the Internal Revenue Service, Department of Treasury, or state taxing authorities, our interpretations of the Tax Bill may change resulting in changes to the provisional amounts previously recorded. Those adjustments may materially affect our provision for income taxes and effective tax rate in the period in which the adjustments were made. The adjustments made in the first three quarters of 2018 were not significant. The accounting for the tax effects of the Tax Act will be completed in the fourth quarter of 2018.

Guarantor and Non-Guarantor Fin

Guarantor and Non-Guarantor Financial Statements	9 Months Ended
	Sep. 30, 2018
Guarantor and Nonguarantor Financial Statements [Abstract]
GUARANTOR AND NON-GARANTOR FINANCIAL STATEMENTS	GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS The following consolidating financial information and condensed consolidating financial information include: (1) Condensed consolidating balance sheets as of September 30, 2018 and December 31, 2017 ; consolidating statements of operations for the three and nine months ended September 30, 2018 and 2017 ; consolidating statements of comprehensive income for the three and nine months ended September 30, 2018 and 2017 ; and condensed consolidating statements of cash flows for the nine months ended September 30, 2018 and 2017 , of (a) Kennedy-Wilson Holdings, Inc., as the parent, (b) Kennedy-Wilson, Inc., as the subsidiary issuer, (c) the guarantor subsidiaries, (d) the non-guarantor subsidiaries and (e) Kennedy-Wilson Holdings, Inc. on a consolidated basis; and (2) Elimination entries necessary to consolidate Kennedy-Wilson Holdings, Inc., as the parent, with Kennedy-Wilson, Inc. and its guarantor and non-guarantor subsidiaries. Kennedy Wilson owns 100% of all of the guarantor subsidiaries, and, as a result, in accordance with Rule 3-10(d) of Regulation S-X promulgated by the SEC, no separate financial statements are required for these subsidiaries as of and for the three and nine months ended September 30, 2018 or 2017 . CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 36.5 $ 39.2 $ 343.7 $ — $ 419.4 Accounts receivable — 0.2 11.0 64.6 — 75.8 Loan purchases and originations — 0.9 1.2 27.3 — 29.4 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,795.4 4,024.9 — 5,820.3 Unconsolidated investments — 19.6 398.7 371.4 — 789.7 Investments in and advances to consolidated subsidiaries 1,280.7 2,617.2 1,579.7 — (5,477.6 ) — Other assets — — 46.8 200.0 — 246.8 Total assets $ 1,280.7 $ 2,674.4 $ 3,872.0 $ 5,031.9 $ (5,477.6 ) $ 7,381.4 Liabilities and equity Liabilities Accounts payable $ 0.3 $ 0.6 $ 1.6 $ 25.6 $ — $ 28.1 Accrued expenses and other liabilities 27.4 142.5 81.4 254.9 — 506.2 Mortgage debt — — 1,171.8 1,700.4 — 2,872.2 KW unsecured debt — 1,250.6 — — — 1,250.6 KWE unsecured bonds — — — 1,282.5 — 1,282.5 Total liabilities 27.7 1,393.7 1,254.8 3,263.4 — 5,939.6 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,253.0 1,280.7 2,617.2 1,579.7 (5,477.6 ) 1,253.0 Noncontrolling interests — — — 188.8 — 188.8 Total equity 1,253.0 1,280.7 2,617.2 1,768.5 (5,477.6 ) 1,441.8 Total liabilities and equity $ 1,280.7 $ 2,674.4 $ 3,872.0 $ 5,031.9 $ (5,477.6 ) $ 7,381.4 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 33.4 $ 54.9 $ 263.0 $ — $ 351.3 Accounts receivable — 0.9 10.1 51.7 — 62.7 Loan purchases and originations — — 5.8 78.9 — 84.7 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,750.0 4,693.7 — 6,443.7 Unconsolidated investments — 20.2 331.2 167.9 — 519.3 Investments in and advances to consolidated subsidiaries 1,394.5 2,642.1 1,629.4 — (5,666.0 ) — Other assets — — 40.2 222.9 — 263.1 Total assets $ 1,394.5 $ 2,696.6 $ 3,821.6 $ 5,478.1 $ (5,666.0 ) $ 7,724.8 Liabilities Accounts payable $ — $ 0.8 $ 2.5 $ 16.2 $ — 19.5 Accrued expense and other liabilities 28.9 121.9 39.7 275.4 — 465.9 Mortgage debt — — 1,137.3 2,019.3 — 3,156.6 KW unsecured debt — 1,179.4 — — — 1,179.4 KWE unsecured bonds — — — 1,325.9 — 1,325.9 Total liabilities 28.9 1,302.1 1,179.5 3,636.8 — 6,147.3 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,365.6 1,394.5 2,642.1 1,629.4 (5,666.0 ) 1,365.6 Noncontrolling interests — — — 211.9 — 211.9 Total equity 1,365.6 1,394.5 2,642.1 1,841.3 (5,666.0 ) 1,577.5 Total liabilities and equity $ 1,394.5 $ 2,696.6 $ 3,821.6 $ 5,478.1 $ (5,666.0 ) $ 7,724.8 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 39.4 $ 84.0 $ — $ 123.4 Hotel — — — 43.5 — 43.5 Sale of real estate — — — 6.5 — 6.5 Investment management, property services and research fees — — 11.6 0.8 — 12.4 Loan purchases, loan originations and other — — — — — — Total revenue — — 51.0 134.8 — 185.8 Operating expenses Rental operating — — 17.5 20.7 — 38.2 Hotel operating — — — 30.6 — 30.6 Cost of real estate sold — — — 5.8 — 5.8 Commission and marketing — — 1.1 — — 1.1 Compensation and related 9.2 13.9 13.8 1.4 — 38.3 General and administrative — 4.3 5.2 2.2 — 11.7 Depreciation and amortization — 0.3 13.4 37.8 — 51.5 Total operating expenses 9.2 18.5 51.0 98.5 — 177.2 Income from unconsolidated subsidiaries — (0.2 ) 14.6 9.6 — 24.0 Income from consolidated subsidiaries 22.1 61.9 58.3 — (142.3 ) — Operating income (loss) 12.9 43.2 72.9 45.9 (142.3 ) 32.6 Non-operating income (expense) Gain on sale of real estate, net — — — 39.4 — 39.4 Acquisition-related expenses — — (0.1 ) (0.3 ) — (0.4 ) Interest expense — (18.5 ) (11.6 ) (25.1 ) — (55.2 ) Other income (loss) — 2.9 — 0.5 — 3.4 Income (loss) before benefit from (provision for) income taxes 12.9 27.6 61.2 60.4 (142.3 ) 19.8 Benefit from (provision for) income taxes — (5.5 ) 0.7 (2.1 ) — (6.9 ) Net income (loss) 12.9 22.1 61.9 58.3 (142.3 ) 12.9 Net income attributable to the noncontrolling interests — — — (0.8 ) — (0.8 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 12.9 $ 22.1 $ 61.9 $ 57.5 $ (142.3 ) $ 12.1 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 128.5 $ 264.1 $ — $ 392.6 Hotel — — — 117.6 — 117.6 Sale of real estate — — — 48.7 — 48.7 Investment management, property services and research fees — — 32.0 2.8 — 34.8 Loan purchases, loan originations and other — — 0.1 1.0 — 1.1 Total revenue — — 160.6 434.2 — 594.8 Operating expenses Rental operating — — 47.3 72.2 — 119.5 Hotel operating — — — 90.8 — 90.8 Cost of real estate sold — — — 45.6 — 45.6 Commission and marketing — — 4.6 — — 4.6 Compensation and related 27.9 47.9 43.0 4.0 — 122.8 General and administrative — 13.6 15.9 7.1 — 36.6 Depreciation and amortization — 1.0 42.6 115.1 — 158.7 Total operating expenses 27.9 62.5 153.4 334.8 — 578.6 Income from unconsolidated subsidiaries — (0.9 ) 38.2 23.6 — 60.9 Income from consolidated subsidiaries 207.1 338.5 271.9 — (817.5 ) — Operating income (loss) 179.2 275.1 317.3 123.0 (817.5 ) 77.1 Non-operating income (expense) Gain on sale of real estate, net — — 61.4 242.8 — 304.2 Acquisition-related expenses — — (0.1 ) (0.5 ) — (0.6 ) Interest expense — (57.9 ) (40.8 ) (82.6 ) — (181.3 ) Other income (loss) — 12.9 — 0.6 — 13.5 Income (loss) before benefit from (provision for) income taxes 179.2 230.1 337.8 283.3 (817.5 ) 212.9 Benefit from (provision for) income taxes — (23.0 ) 0.7 (11.4 ) — (33.7 ) Net income (loss) 179.2 207.1 338.5 271.9 (817.5 ) 179.2 Net income attributable to the noncontrolling interests — — — (59.9 ) — (59.9 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 179.2 $ 207.1 $ 338.5 $ 212.0 $ (817.5 ) $ 119.3 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 36.1 $ 89.4 $ — $ 125.5 Hotel — — — 37.3 — 37.3 Sale of real estate — — 2.3 87.5 — 89.8 Investment management, property services and research fees — — 9.2 2.2 — 11.4 Loan purchases, loan originations and other — — — 8.5 — 8.5 Total revenue — — 47.6 224.9 — 272.5 Operating expenses Rental operating — — 13.8 24.2 — 38.0 Hotel operating — — — 26.1 — 26.1 Cost of real estate sold — — 1.8 61.6 — 63.4 Commission and marketing — — 2.0 0.1 — 2.1 Compensation and related 9.3 12.6 11.7 1.8 — 35.4 General and administrative — 3.8 4.3 2.7 — 10.8 Depreciation and amortization — 0.4 13.0 42.0 — 55.4 Total operating expenses 9.3 16.8 46.6 158.5 — 231.2 Income from unconsolidated investments — 0.6 12.1 4.9 — 17.6 Income from consolidated subsidiaries 19.1 46.4 42.8 — (108.3 ) — Operating income 9.8 30.2 55.9 71.3 (108.3 ) 58.9 Non-operating income (expense) Gain on sale of real estate, net — — — 5.3 — 5.3 Acquisition-related expenses — — (0.2 ) (0.8 ) — (1.0 ) Interest expense — (18.9 ) (10.1 ) (27.8 ) — (56.8 ) Other income — 2.7 (0.1 ) (2.9 ) — (0.3 ) Income before provision for income taxes 9.8 14.0 45.5 45.1 (108.3 ) 6.1 Provision for income taxes — 5.1 0.9 (2.3 ) — 3.7 Net income 9.8 19.1 46.4 42.8 (108.3 ) 9.8 Net Income attributable to the noncontrolling interests — — — (18.7 ) — (18.7 ) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 9.8 $ 19.1 $ 46.4 $ 24.1 $ (108.3 ) $ (8.9 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 104.4 $ 269.2 $ — $ 373.6 Hotel — — — 95.8 — 95.8 Sale of real estate — — 2.3 101.1 — 103.4 Investment management, property services and research fees — — 26.4 6.3 — 32.7 Loan purchases, loan originations and other — — 0.3 14.7 — 15.0 Total revenue — — 133.4 487.1 — 620.5 Operating expenses Rental operating — — 40.6 69.9 — 110.5 Hotel operating — — — 73.3 — 73.3 Cost of real estate sold — — 1.8 71.9 — 73.7 Commission and marketing — — 5.7 0.2 — 5.9 Compensation and related 29.4 40.4 37.9 5.8 — 113.5 General and administrative — 10.3 12.1 8.3 — 30.7 Depreciation and amortization — 1.1 36.6 119.5 — 157.2 Total operating expenses 29.4 51.8 134.7 348.9 — 564.8 Income from unconsolidated subsidiaries — 2.2 26.3 28.9 — 57.4 Income from consolidated subsidiaries 62.0 154.1 109.1 — (325.2 ) — Operating income 32.6 104.5 134.1 167.1 (325.2 ) 113.1 Non-operating income (expense) Gain on sale of real estate, net — — 46.6 30.4 — 77.0 Acquisition-related expenses — (0.1 ) (0.9 ) (1.3 ) — (2.3 ) Interest expense — (51.1 ) (28.0 ) (79.8 ) — (158.9 ) Other income — 5.9 — (1.3 ) — 4.6 Income before benefit from (provision for) income taxes 32.6 59.2 151.8 115.1 (325.2 ) 33.5 (Provision for) benefit from income taxes — 2.8 2.3 (6.0 ) — (0.9 ) Net income 32.6 62.0 154.1 109.1 (325.2 ) 32.6 Net income attributable to the noncontrolling interests — — — (31.3 ) — (31.3 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 32.6 $ 62.0 $ 154.1 $ 77.8 $ (325.2 ) $ 1.3 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 12.9 $ 22.1 $ 61.9 $ 58.3 $ (142.3 ) $ 12.9 Other comprehensive income, net of tax: Unrealized foreign currency translation gain (7.5 ) (7.5 ) (7.1 ) (7.6 ) 22.2 (7.5 ) Amounts reclassified out of AOCI during the period 0.1 0.1 — — (0.1 ) 0.1 Unrealized currency derivative contracts loss (0.2 ) (0.2 ) 7.2 (7.4 ) 0.4 (0.2 ) Total other comprehensive (loss) income for the period $ (7.6 ) $ (7.6 ) $ 0.1 $ (15.0 ) $ 22.5 $ (7.6 ) Comprehensive income $ 5.3 $ 14.5 $ 62.0 $ 43.3 $ (119.8 ) $ 5.3 Comprehensive income attributable to noncontrolling interests — — — 0.1 — 0.1 Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. $ 5.3 $ 14.5 $ 62.0 $ 43.4 $ (119.8 ) $ 5.4 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 179.2 $ 207.1 $ 338.5 $ 271.9 $ (817.5 ) $ 179.2 Other comprehensive income, net of tax: Unrealized foreign currency translation gain (46.4 ) (46.4 ) (23.4 ) (45.0 ) 114.8 (46.4 ) Amounts reclassified out of AOCI during the period 13.2 13.2 — 18.3 (31.5 ) 13.2 Unrealized currency derivative contracts loss 22.0 22.0 23.5 (1.5 ) (44.0 ) 22.0 Total other comprehensive (loss) income for the period $ (11.2 ) $ (11.2 ) $ 0.1 $ (28.2 ) $ 39.3 $ (11.2 ) Comprehensive income $ 168.0 $ 195.9 $ 338.6 $ 243.7 $ (778.2 ) $ 168.0 Comprehensive income attributable to noncontrolling interests — — — (65.0 ) — (65.0 ) Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. $ 168.0 $ 195.9 $ 338.6 $ 178.7 $ (778.2 ) $ 103.0 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 9.8 $ 19.1 $ 46.4 $ 42.8 $ (108.3 ) $ 9.8 Other comprehensive income (loss), net of tax: Unrealized gain on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Unrealized foreign currency translation gain 50.5 50.5 6.0 50.3 (106.8 ) 50.5 Amounts reclassified from accumulated other comprehensive income 0.1 — 0.1 — 0.1 (0.2 ) 0.1 Unrealized currency derivative contracts loss (11.5 ) (11.5 ) (5.7 ) (5.8 ) 23.0 (11.5 ) Total other comprehensive income for the period $ 39.2 $ 39.2 $ 0.3 $ 44.6 $ (84.1 ) $ 39.2 Comprehensive income $ 49.0 $ 58.3 $ 46.7 $ 87.4 $ (192.4 ) $ 49.0 Comprehensive income attributable to noncontrolling interests — — — (52.9 ) — (52.9 ) Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 49.0 $ 58.3 $ 46.7 $ 34.5 $ (192.4 ) $ (3.9 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 32.6 $ 62.0 $ 154.1 $ 109.1 $ (325.2 ) $ 32.6 Other comprehensive income (loss), net of tax: Unrealized gain on marketable securities 0.2 0.2 — — (0.2 ) 0.2 Unrealized foreign currency translation gain 171.3 171.3 24.4 162.6 (358.3 ) 171.3 Amounts reclassified from accumulated other comprehensive income 0.1 0.1 — 0.1 (0.2 ) 0.1 Unrealized currency derivative contracts loss (44.3 ) (44.3 ) (15.5 ) (28.8 ) 88.6 (44.3 ) Total other comprehensive income for the period $ 127.3 $ 127.3 $ 8.9 $ 133.9 $ (270.1 ) $ 127.3 Comprehensive loss $ 159.9 $ 189.3 $ 163.0 $ 243.0 $ (595.3 ) $ 159.9 Comprehensive income attributable to noncontrolling interests — — — (138.8 ) — (138.8 ) Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 159.9 $ 189.3 $ 163.0 $ 104.2 $ (595.3 ) $ 21.1 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ (0.4 ) $ (119.5 ) $ 68.0 $ 143.7 $ 91.8 Cash flows from investing activities: Additions to loans — — (0.9 ) (1.0 ) (1.9 ) Collections of loans — — 4.5 — 4.5 Net proceeds from sale of real estate — — 161.4 1,003.5 1,164.9 Purchases of and additions to real estate — — (184.3 ) (256.6 ) (440.9 ) Premiums from settlement of foreign derivative contracts — 7.8 — — 7.8 Purchases of foreign derivative contracts — (0.8 ) — — (0.8 ) Investment in marketable securities — — — — — Proceeds from sale of marketable securities — — 7.4 — 7.4 Distributions from unconsolidated investments — — 21.0 27.0 48.0 Contributions to unconsolidated investments — (0.9 ) (57.7 ) (234.5 ) (293.1 ) Additions to development project assets — — — (22.2 ) (22.2 ) Proceeds from development project assets — — — 38.9 38.9 Distributions from (investments in) consolidated subsidiaries, net 244.7 49.4 (68.5 ) (225.6 ) — Net cash provided by (used in) investing activities 244.7 55.5 (117.1 ) 329.5 512.6 Cash flows from financing activities: Borrowings under senior notes payable — 246.6 — — 246.6 Borrowings under line of credit — 225.0 — — 225.0 Repayment of line of credit — (325.0 ) — — (325.0 ) Borrowings under investment debt — — 311.6 167.1 478.7 Repayment of investment debt — — (276.4 ) (443.4 ) (719.8 ) Repayment of term loan — (75.0 ) — — (75.0 ) Debt issue costs — (4.5 ) (1.7 ) (1.5 ) (7.7 ) Repurchase and retirement of common stock (160.1 ) — — — (160.1 ) Dividends paid (84.2 ) — — — (84.2 ) KWE closing dividend — — — (17.2 ) (17.2 ) Contributions from noncontrolling interests, excluding KWE — — — 22.8 22.8 Distributions to noncontrolling interests — — — (104.9 ) (104.9 ) Net cash (used in) provided by financing activities (244.3 ) 67.1 33.5 (377.1 ) (520.8 ) Effect of currency exchange rate changes on cash and cash equivalents — — — (15.5 ) (15.5 ) Net change in cash and cash equivalents — 3.1 (15.6 ) 80.6 68.1 Cash and cash equivalents, beginning of period — 33.4 54.8 263.1 351.3 Cash and cash equivalents, end of period $ — $ 36.5 $ 39.2 $ 343.7 $ 419.4 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ 2.0 $ (205.6 ) $ 47.4 $ 285.8 $ 129.6 Cash flows from investing activities: Additions to loans — — — — — Collections of loans — — 6.4 10.5 16.9 Net proceeds from sale of real estate — — 110.6 151.3 261.9 Purchases of and additions to real estate — — (224.8 ) (250.2 ) (475.0 ) Additions to nonrefundable escrow deposits — — — — — Proceeds from settlement of foreign derivative contracts — 3.1 — — 3.1 Purchases of foreign derivative contracts — (0.6 ) — — (0.6 ) Investment in marketable securities — — (0.6 ) — (0.6 ) Proceeds from sale of marketable securities — — 0.6 — 0.6 Distributions from unconsolidated investments — — 70.5 18.9 89.4 Contributions to unconsolidated investments — — (40.6 ) (21.7 ) (62.3 ) Additions to development project assets — — — (13.0 ) (13.0 ) Proceeds from development project assets — — — 36.9 36.9 Distributions from (investments in) consolidated subsidiaries, net 100.7 188.9 (39.1 ) (250.5 ) — Net cash provided by (used in) investing activities 100.7 191.4 (117.0 ) (317.8 ) (142.7 ) Cash flows from financing activities: Borrowings under line of credit — 400.0 — — 400.0 Repayment of lines of credit — (50.0 ) — — (50.0 ) Borrowings under investment debt — — 106.0 152.3 258.3 Repayment of investment debt — — (35.8 ) (106.8 ) (142.6 ) Debt issue costs — (0.1 ) (0.5 ) (0.8 ) (1.4 ) Costs associated with KWE transaction (10.0 ) — — — (10.0 ) Repurchase and retirement of common stock (35.6 ) — — — (35.6 ) Dividends paid (57.1 ) — — — (57.1 ) Acquisition of KWE shares from noncontrolling interest holders — — — (3.3 ) (3.3 ) Contributions from noncontrolling interests, excluding KWE — — — 43.6 43.6 Distributions to noncontrolling interests — — — (93.3 ) (93.3 ) Net cash (used in) provided by financing activities (102.7 ) 349.9 69.7 (8.3 ) 308.6 Effect of currency exchange rate changes on cash and cash equivalents — — — 51.5 51.5 Net change in cash and cash equivalents — 335.7 0.1 11.2 347.0 Cash and cash equivalents, beginning of period — 106.0 45.4 734.3 885.7 Cash and cash equivalents, end of period $ — $ 441.7 $ 45.5 $ 745.5 $ 1,232.7

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On October 25, 2018, the Company's AXA Joint Venture acquired The Grange, comprising of 274 multifamily units and a four-acre development site in the Dublin suburb of Sandyford, Ireland for $183.1 million . The AXA Joint Venture secured a $89.4 million mortgage on the property, and the Company's share of equity at closing was $46.9 million .

Summary of Significant Accoun_2

Summary of Significant Accounting Polices and Adoption of New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
REVENUE RECOGNITION	In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASC Topic 606, Revenue from Contracts with Customers , which introduced a new 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 identifies the contract, any separate performance obligations in the contract, determines the transaction price, allocates the transaction price and recognizes revenue when the performance obligations are satisfied. Management has concluded that, with the exception of performance fees, the nature of the Company's revenue streams is such that the requirements are generally satisfied at the time that the fee becomes receivable. Consequently, the new standard did not impact the timing of revenue recognition for these revenue streams . The Company has concluded that performance fees to the Company, based on cumulative fund performance to-date, represent equity method investments that are not in the scope of the amended revenue recognition guidance. Effective January 1, 2018, the Company changed its policy for recognition and measurement of performance fees. This accounting policy change did not change the timing or amount of income recognized related to performance fees. Prior to this accounting method change, the performance-based component of the fees was recognized within investment management, property services and research fees in the Consolidated Statements of Operations. Under the equity method of accounting, the Company now recognizes its allocation of performance fees along with its share of income or loss and fair value, proportionate to the Company’s equity ownership in each applicable investment as a component of income from unconsolidated investments. The Company has accounted for this change by full retrospective application and prior periods presented have been recast. The impact of adoption was a reclassification of $32.9 million from other assets to unconsolidated investments on the Consolidated Balance Sheet as of December 31, 2017. During the three and nine months ended September 30, 2018 , there was $7.6 million and $24.7 million of performance fees recorded as a component of income from unconsolidated investments. During the three and nine months ended September 30, 2017 , there was $4.7 million and $8.6 million of performance fee allocations which were previously presented as a component of investment management, property services and research fees and have been reclassified to income from unconsolidated investments in the current year presentation. ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets ("Subtopic 610-20") was also adopted effective January 1, 2018. Management concluded that the new standard did not have a significant impact on the amount, timing or classification of real estate sales in the financial statements or related disclosures. This conclusion was based on the Company's current business mix and general approach to sales of real estate which are generally completed without seller financing or continuing involvement that would indicate that a performance obligation is not met at the time the transaction closes. With the adoption of Subtopic 610-20, the Company will recognize the entire gain attributed to contributions of real estate properties to unconsolidated entities. The Company previously recognized a gain on contribution only to the extent of the third-party ownership in the unconsolidated entity acquiring the property and deferred the portion of the gain related to the Company's ownership. The Company’s analysis included evaluation of an in-process development project that will be completed later in 2018 and found that while the evaluation is different under Subtopic 610-20, the recognition required recording the gain on the sale of the land and the development component, as separate performance obligations, under a percentage of completion methodology. However, this conclusion is identical to the manner of reporting the gain on the sale of this real estate under the superseded U.S. GAAP. Consequently, there was no significant impact upon this sale nor any of the other sales already completed.
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). The ownership of the other interest holders in consolidated subsidiaries is reflected as noncontrolling interests. Real estate is recorded based on cumulative costs incurred and allocated based on relative fair value. 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.
FOREIGN CURRENCIES	The financial statements of Kennedy Wilson'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 and the British pound sterling. 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.
FAIR VALUE MEASUREMENTS	Kennedy Wilson accounts for fair value measurements of financial assets and financial liabilities and for fair value measurements of non-financial items that are recognized or disclosed at fair value in the financial statements on a recurring basis under the provisions of ASC Subtopic 820-10, Fair Value Measurements ("Subtopic 820-10"). Subtopic 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When estimating fair value in the absence of an orderly transaction between market participants, 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 and the investments in debt securities are valued, in part, based on third party valuations and management estimates also using an income approach.
FAIR VALUE OF FINANCIAL INSTRUMENTS	The estimated fair value of financial instruments is determined using available market information and appropriate valuation methodologies. Considerable judgment, is necessary however to interpret market data and develop the related estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material impact on the estimated fair value amounts.
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 potential exposure from adverse changes in foreign exchange rates arising from the Company’s net investments in foreign operations, the Company may enter into currency derivative contracts to hedge all or portions of the net investments in the Company’s non-U.S. dollar denominated foreign operations.
INCOME TAXES	Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In accordance with ASC Subtopic 740-10, Accounting for Uncertainty in Income Taxes , the effect of income tax positions is recognized only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.
RECENT ACCOUNTING PRONOUNCEMENTS	On January 1, 2018, Kennedy Wilson adopted ASC Topic 606 and ASC Subtopic 610-20 transition guidance. See discussion above in revenue recognition for more detail. 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. FASB ASC Topic 842 is required to be adopted for fiscal years beginning after December 15, 2018. The Company is currently evaluating its operating lease agreements. Because Kennedy Wilson'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 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 adoption of this standard did not have a material impact on Kennedy Wilson'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 impact noting that for asset acquisitions (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 adoption of this standard did not have a material impact on Kennedy Wilson's consolidated financial statements, except that going forward the Company will no longer record acquisition related gains when acquiring controlling interests in real estate investments that are deemed asset acquisitions and the Company will now capitalize acquisition-related costs on completed transactions. 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 Kennedy Wilson's consolidated financial statements. In August 2017, the FASB issued ASU 2017-12 that simplifies the application of hedge accounting guidance in current GAAP and improves the reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its consolidated financial statements. Among the simplification updates, the standard eliminates the requirement in current GAAP to separately recognize periodic hedge ineffectiveness. Mismatches between the changes in value of the hedged item and hedging instrument may still occur but they will no longer be separately reported. The standard requires the presentation of the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. This ASU is effective for public business entities, for annual and interim periods in fiscal years beginning after December 15, 2018. T he Company does not expect the ASU to have a significant impact on Kennedy Wilson's consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. This ASU is effective for all entities, for annual and interim periods in fiscal years beginning after December 15, 2018. T he Company does not expect the ASU to have a significant impact on Kennedy Wilson's consolidated financial statements. The FASB did not issue any other ASUs during the first nine months of 2018 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 Leas_2

Real Estate and In-Place Lease Value (Tables)	9 Months Ended
	Sep. 30, 2018
Real Estate [Abstract]
Schedule of Investment in Consolidated Real Estate Properties	The following table summarizes Kennedy Wilson's investment in consolidated real estate properties at September 30, 2018 and December 31, 2017 : September 30, December 31, (Dollars in millions) 2018 2017 Land $ 1,393.6 $ 1,509.4 Buildings 4,058.6 4,558.0 Building improvements 611.2 511.2 In-place lease values 359.3 417.3 6,422.7 6,995.9 Less accumulated depreciation and amortization (602.4 ) (552.2 ) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,820.3 $ 6,443.7
Schedule of Business Acquisitions, by Acquisition	During the nine months ended September 30, 2018 , Kennedy Wilson acquired the following consolidated properties: (Dollars in millions) Purchase Price Allocation at Acquisition (1) Location Description Land Building Acquired in place lease values (2) Investment debt NCI KWH Shareholders' Equity Western U.S. Three multifamily properties and one commercial property $ 53.0 $ 109.3 $ 0.8 $ 103.5 $ — $ 59.6 United Kingdom One residential property 4.2 — — — — 4.2 Ireland One multifamily property 11.1 96.0 2.1 61.3 — 47.9 $ 68.3 $ 205.3 $ 2.9 $ 164.8 $ — $ 111.7 (1) Excludes net other assets. (2) Includes above and below market leases in this table. Above and below market leases are part of other assets and accrued expenses and other liabilities.

Unconsolidated Investments (Tab

Unconsolidated Investments (Tables)	9 Months Ended
	Sep. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Joint Ventures by Location and Investment Type	The following table details Kennedy Wilson's investments in joint ventures by investment type and geographic location as of September 30, 2018 : (Dollars in millions) Multifamily Commercial Mixed-Use Funds Residential and Other Total Western U.S. $ 195.7 $ 44.0 $ — $ 91.4 $ 242.2 $ 573.3 Ireland 132.4 — 78.7 — — 211.1 United Kingdom — 5.3 — — — 5.3 Total $ 328.1 $ 49.3 $ 78.7 $ 91.4 $ 242.2 $ 789.7 The following table details the Company's unconsolidated investments by investment type and geographic location as of December 31, 2017 : (Dollars in millions) Multifamily Commercial Funds Residential and Other Total Western U.S. $ 199.7 $ 42.1 $ 85.3 $ 179.8 $ 506.9 United Kingdom — 9.9 — — 9.9 Japan 2.5 — — — 2.5 Total $ 202.2 $ 52.0 $ 85.3 $ 179.8 $ 519.3
Schedule of Joint Venture Cash Distributions by Investment Type and Geographic Location	The following table details cash distributions by investment type and geographic location for the nine months ended September 30, 2018 : Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 21.2 $ 27.5 $ 1.3 $ 2.3 $ 10.4 $ 10.9 $ 0.7 $ 5.1 $ 33.6 $ 45.8 Japan 0.1 2.2 — — — — — — 0.1 2.2 Total $ 21.3 $ 29.7 $ 1.3 $ 2.3 $ 10.4 $ 10.9 $ 0.7 $ 5.1 $ 33.7 $ 48.0

Fair Value Measurements and t_2

Fair Value Measurements and the Fair Value Option (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of September 30, 2018 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 597.7 $ 597.7 Net currency derivative contracts — (56.2 ) — (56.2 ) Total $ — $ (56.2 ) $ 597.7 $ 541.5 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, 2017 : (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 380.7 $ 380.7 Marketable securities 7.5 — — 7.5 Net currency derivative contracts — (100.9 ) — (100.9 ) Total $ 7.5 $ (100.9 ) $ 380.7 $ 287.3
Schedule of Investments in Joint Ventures Held at Fair Value	The following table summarizes the Company's investments in unconsolidated investments held at fair value by type: (Dollars in millions) September 30, 2018 December 31, 2017 FV Option $ 506.3 $ 295.4 Funds 91.4 85.3 Total $ 597.7 $ 380.7
Schedule of Changes in Level 3 Investments	The following table presents changes in Level 3 investments in Funds and FV Options for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions) 2018 2017 2018 2017 Beginning balance $ 478.3 $ 361.9 $ 380.7 $ 356.7 Unrealized and realized gains 31.6 16.0 69.8 47.5 Unrealized and realized losses (8.1 ) — (14.3 ) (0.8 ) Contributions 131.3 22.4 247.3 47.5 Distributions (10.2 ) (21.4 ) (60.5 ) (95.9 ) Other (25.2 ) (0.1 ) (25.3 ) 23.8 Ending balance $ 597.7 $ 378.8 $ 597.7 $ 378.8
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 Multifamily 4.75% - 7.75% 8.00% - 9.75% Office 4.50% - 6.75% 7.00% - 8.75% Retail 5.25% - 9.50% 6.50% - 11.50% Residential N/A 12.00% - 15.00%
Schedule of Currency Forward Contracts	The table below details the currency derivative contracts Kennedy Wilson held as of September 30, 2018 and the activity during the nine months ended September 30, 2018 . For the nine months ended September 30, 2018 , Kennedy Wilson had a gross foreign currency translation loss on its net assets of $47.4 million . See Note 11 for a complete discussion on other comprehensive income including currency derivative contracts and foreign currency translations. (Dollars, Euros and British Pound Sterlings in millions) September 30, 2018 Nine Months Ended September 30, 2018 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized Gains (Losses) Realized Gains (Losses) Cash Received (Paid) Outstanding EUR USD € 175.0 $ — $ (5.2 ) $ (2.8 ) $ (2.4 ) $ — EUR (1) GBP € 310.8 — (70.0 ) 0.1 — — EUR (1)(2) GBP — — (1.6 ) — — GBP USD £ 600.3 21.2 (2.1 ) 24.6 — (0.8 ) Total Outstanding 21.2 (77.3 ) 20.3 (2.4 ) (0.8 ) Settled EUR (4) USD — — (1.5 ) 23.1 14.4 GBP USD — — 3.5 0.7 (6.7 ) Total Settled — — 2.0 23.8 7.7 Total $ 21.2 $ (77.3 ) $ 22.3 (3) $ 21.4 $ 6.9 (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) Excludes deferred tax benefit of $8.1 million and $2.8 million of amounts reclassified out of OCI relating to deferred taxes (4) Amounts associated with investments that were part of AXA transaction. Amounts reclassified out of OCI to gain on sale of real estate.

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: (Dollars in millions) September 30, 2018 December 31, 2017 Above-market leases, net of accumulated amortization of $48.9 and $44.3 at September 30, 2018 and December 31, 2017, respectively $ 46.2 $ 63.1 Development project asset 41.1 55.3 Furniture and equipment net of accumulated depreciation of $38.5 and $35.8 at September 30, 2018 and December 31, 2017, respectively 33.6 44.3 Straight line rent 32.5 24.0 Goodwill 23.9 23.9 Hedge assets 21.2 2.4 Prepaid expenses 17.8 13.3 Leasing commissions, net of accumulated amortization of $3.3 and $2.2 at September 30, 2018 and December 31, 2017, respectively 11.8 10.1 Other, net of accumulated amortization of $2.7 and $2.6 at September 30, 2018 and December 31, 2017, respectively 11.3 10.7 Marketable securities — 7.5 VAT receivable 4.4 5.0 Deposits 3.0 3.5 Other Assets $ 246.8 $ 263.1

Mortgage Debt (Tables)

Mortgage Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Mortgage Loans Payable	The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of September 30, 2018 and December 31, 2017 : (Dollars in millions) Carrying amount of mortgage debt as of (1) Mortgage Debt by Product Type Region September 30, 2018 December 31, 2017 Multifamily (1) Western U.S. $ 1,244.5 $ 1,227.5 Commercial (1) United Kingdom 510.7 583.2 Commercial (1) Ireland 524.5 505.0 Commercial Western U.S. 384.6 370.7 Multifamily (1) Ireland 12.0 263.2 Commercial Spain 91.6 95.5 Hotel Ireland 83.5 86.4 Hotel Western U.S. 38.1 49.0 Mortgage debt (excluding loan fees) (1) 2,889.5 3,180.5 Unamortized loan fees (17.3 ) (23.9 ) Total Investment Debt $ 2,872.2 $ 3,156.6 (1) The mortgage 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 September 30, 2018 and December 31, 2017 was $2.0 million and $2.4 million , respectively.
Schedule of Maturities of Mortgage Loans and Notes Payable	The aggregate maturities of mortgage loans subsequent to September 30, 2018 are as follows: (Dollars in millions) Aggregate Maturities 2018 $ 10.5 2019 286.7 2020 146.1 2021 170.7 2022 365.1 Thereafter 1,908.4 2,887.5 Debt premium 2.0 Unamortized loan fees (17.3 ) Total Mortgage Debt $ 2,872.2

KW Unsecured Debt (Tables)

KW Unsecured Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Debt KW Unsecured Debt	The following table details KW unsecured debt as of September 30, 2018 and December 31, 2017 : (Dollars in millions) September 30, 2018 December 31, 2017 Credit facility $ 125.0 $ 300.0 Senior notes (1) 1,145.1 898.1 KW unsecured debt 1,270.1 1,198.1 Unamortized loan fees (19.5 ) (18.7 ) Total KW Unsecured Debt $ 1,250.6 $ 1,179.4 (1) The senior notes balances include unamortized debt discounts. Debt 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 September 30, 2018 and December 31, 2017 was $4.9 million and $1.9 million , respectively. The following table details KWE unsecured bonds as of September 30, 2018 and December 31, 2017 : (Dollars in millions) September 30, 2018 December 31, 2017 KWE Bonds $ 651.5 $ 675.6 KWE Euro Medium Term Note Programme 635.6 655.7 KWE Unsecured Bonds (excluding loan fees) (1) 1,287.1 1,331.3 Unamortized loan fees (4.6 ) (5.4 ) Total KWE Unsecured Bonds $ 1,282.5 $ 1,325.9 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt 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 discount as of September 30, 2018 and December 31, 2017 was $3.8 million and $4.3 million , respectively.

KWE Unsecured Bonds (Tables)

KWE Unsecured Bonds (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of KWE Bonds	The following table details KW unsecured debt as of September 30, 2018 and December 31, 2017 : (Dollars in millions) September 30, 2018 December 31, 2017 Credit facility $ 125.0 $ 300.0 Senior notes (1) 1,145.1 898.1 KW unsecured debt 1,270.1 1,198.1 Unamortized loan fees (19.5 ) (18.7 ) Total KW Unsecured Debt $ 1,250.6 $ 1,179.4 (1) The senior notes balances include unamortized debt discounts. Debt 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 September 30, 2018 and December 31, 2017 was $4.9 million and $1.9 million , respectively. The following table details KWE unsecured bonds as of September 30, 2018 and December 31, 2017 : (Dollars in millions) September 30, 2018 December 31, 2017 KWE Bonds $ 651.5 $ 675.6 KWE Euro Medium Term Note Programme 635.6 655.7 KWE Unsecured Bonds (excluding loan fees) (1) 1,287.1 1,331.3 Unamortized loan fees (4.6 ) (5.4 ) Total KWE Unsecured Bonds $ 1,282.5 $ 1,325.9 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt 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 discount as of September 30, 2018 and December 31, 2017 was $3.8 million and $4.3 million , respectively.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Schedule of Dividends Declared and Paid	During the following periods, Kennedy Wilson declared and paid the following cash distributions on its common stock: Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 (Dollars in millions) Declared Paid Declared Paid Common Stock (1) $ 83.4 $ 84.2 $ 58.6 $ 57.1 (1) 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 loss, net of taxes: (Dollars in millions) Foreign Currency Translation Currency Derivative Contracts Marketable Securities Total Accumulated Other Comprehensive Loss (1) Balance at December 31, 2017 $ (46.6 ) $ (22.2 ) $ 0.1 $ (68.7 ) Unrealized (losses) gains, arising during the period (47.4 ) 30.1 — (17.3 ) Amounts reclassified out of AOCI during the period, gross 22.5 (7.8 ) (0.2 ) 14.5 Amounts reclassified out of AOCI during the period, taxes (4.2 ) 2.8 0.1 (1.3 ) Noncontrolling interest (5.1 ) — — (5.1 ) Deferred taxes on unrealized gains (losses), arising during the period 1.0 (8.1 ) — (7.1 ) Balance at September 30, 2018 $ (79.8 ) $ (5.2 ) $ — $ (85.0 ) (1) As a result of the KWE Transaction the Company was required to record inception to date accumulated other comprehensive losses of $358.4 million associated with noncontrolling interest holders of KWE. This amount has been excluded from the beginning and ending balances of the table to give a more appropriate depiction of the Company's accumulated other comprehensive loss activity. If this amount is included, the accumulated other comprehensive loss would be $443.4 million and $427.1 million as of September 30, 2018 and December 31, 2017 , respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a summary of the elements used in calculating basic and diluted income (loss) per share for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, Nine Months Ended September 30, (Dollars in millions, except share and per share amounts) 2018 2017 2018 2017 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 12.1 $ (8.9 ) $ 119.3 $ 1.3 Dividends allocated to participating securities (0.2 ) (0.2 ) (0.8 ) (0.7 ) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities 11.9 (9.1 ) 118.5 0.6 Dividends declared on common shares (27.2 ) (19.3 ) (82.9 ) (57.9 ) Undistributed earnings (losses) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities $ (15.3 ) $ (28.4 ) $ 35.6 $ (57.3 ) Distributed earnings per share $ 0.19 $ 0.17 $ 0.57 $ 0.52 Undistributed earnings (losses) per share (0.10 ) (0.25 ) 0.26 (0.51 ) Income per basic and diluted share 0.09 (0.08 ) 0.83 0.01 Weighted average shares outstanding for basic 141,003,413 111,966,716 143,450,695 111,955,924 Weighted average shares outstanding for diluted (1) 141,800,972 111,966,716 144,516,045 111,955,924 Dividends declared per common share $ 0.19 $ 0.17 $ 0.57 $ 0.51 (1) For the three and nine months ended September 30, 2018 , a total of 115,395 and 0 , respectively, potentially dilutive securities have not been included in the diluted weighted average shares as they are anti-dilutive. For the three and nine months ended September 30, 2017 , a total of 1,145,032 and 1,028,565 , respectively, potentially dilutive securities have not been included in the diluted weighted average shares as they are anti-dilutive. Potentially anti-dilutive securities include unvested restricted stock grants.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize income activity by segment and corporate for the three and nine months ended September 30, 2018 and 2017 and balance sheet data as of September 30, 2018 and December 31, 2017 : Three Months Ended September 30, 2018 (Dollars in millions) Investments Investment Management and Real Estate Services Corporate Total Revenue Rental $ 123.4 $ — $ — $ 123.4 Hotel 43.5 — — 43.5 Sale of real estate 6.5 — — 6.5 Investment management, property services and research fees — 12.4 — 12.4 Loan purchases, loan originations and other — — — — Total revenue 173.4 12.4 — 185.8 Operating expenses Rental operating 38.2 — — 38.2 Hotel operating 30.6 — — 30.6 Cost of real estate sold 5.8 — — 5.8 Commission and marketing — 1.1 — 1.1 Compensation and related 15.8 8.4 14.1 38.3 General and administrative 7.0 3.2 1.5 11.7 Depreciation and amortization 51.4 0.1 — 51.5 Total operating expenses 148.8 12.8 15.6 177.2 Income from unconsolidated investments, net of depreciation and amortization 16.3 7.7 — 24.0 Operating income (loss) 40.9 7.3 (15.6 ) 32.6 Non-operating income (expense) Gain on sale of real estate, net 39.4 — — 39.4 Acquisition-related expenses (0.4 ) — — (0.4 ) Interest expense (36.6 ) — (18.6 ) (55.2 ) Other income 0.1 — 3.3 3.4 Provision for income taxes (10.6 ) — 3.7 (6.9 ) Total non-operating income (loss) (8.1 ) — (11.6 ) (19.7 ) Net income (loss) 32.8 7.3 (27.2 ) 12.9 Net income attributable to noncontrolling interests (0.8 ) — — (0.8 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 32.0 $ 7.3 $ (27.2 ) $ 12.1 Nine Months Ended September 30, 2018 (Dollars in millions) Investments Investment Management and Real Estate Services Corporate Total Revenue Rental $ 392.6 $ — $ — $ 392.6 Hotel 117.6 — — 117.6 Sale of real estate 48.7 — — 48.7 Investment management, property services and research fees — 34.8 — 34.8 Loan purchases, loan originations and other 1.1 — — 1.1 Total revenue 560.0 34.8 — 594.8 Operating expenses Rental operating 119.5 — — 119.5 Hotel operating 90.8 — — 90.8 Cost of real estate sold 45.6 — — 45.6 Commission and marketing — 4.6 — 4.6 Compensation and related 52.2 26.1 44.5 122.8 General and administrative 22.6 9.3 4.7 36.6 Depreciation and amortization 158.5 0.2 — 158.7 Total operating expenses 489.2 40.2 49.2 578.6 Income from unconsolidated investments, net of depreciation and amortization 36.1 24.8 — 60.9 Operating income (loss) 106.9 19.4 (49.2 ) 77.1 Non-operating income (expense) Gain on sale of real estate, net 304.2 — — 304.2 Acquisition-related expenses (0.6 ) — — (0.6 ) Interest expense (123.4 ) — (57.9 ) (181.3 ) Other income 0.4 — 13.1 13.5 Provision for income taxes (10.6 ) — (23.1 ) (33.7 ) Total non-operating gain (loss) 170.0 — (67.9 ) 102.1 Net income (loss) 276.9 19.4 (117.1 ) 179.2 Net income attributable to noncontrolling interests (59.9 ) — — (59.9 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 217.0 $ 19.4 $ (117.1 ) $ 119.3 Three Months Ended September 30, 2017 (Dollars in millions) Investments Investment Management and Real Estate Services Corporate Total Revenue Rental $ 125.5 $ — $ — $ 125.5 Hotel 37.3 — — 37.3 Sale of real estate 89.8 — — 89.8 Investment management, property services and research fees — 11.4 — 11.4 Loan purchases, loan originations and other 8.5 — — 8.5 Total revenue 261.1 11.4 — 272.5 Operating expenses Rental operating 38.0 — — 38.0 Hotel operating 26.1 — — 26.1 Cost of real estate sold 63.4 — — 63.4 Commission and marketing — 2.1 — 2.1 Compensation and related 12.8 9.0 13.6 35.4 General and administrative 6.6 3.0 1.2 10.8 Depreciation and amortization 55.4 — — 55.4 Total operating expenses 202.3 14.1 14.8 231.2 Income (loss) from unconsolidated investments, net of depreciation and amortization 12.7 4.9 — 17.6 Operating income (loss) 71.5 2.2 (14.8 ) 58.9 Non-operating income (expense) Gain on sale of real estate, net 5.3 — — 5.3 Acquisition-related expenses (1.0 ) — — (1.0 ) Interest expense (37.9 ) — (18.9 ) (56.8 ) Other (expense) income (2.9 ) — 2.6 (0.3 ) Provision for income taxes (1.4 ) — 5.1 3.7 Total non-operating income (loss) (37.9 ) — (11.2 ) (49.1 ) Net income (loss) 33.6 2.2 (26.0 ) 9.8 Net income attributable to noncontrolling interests (18.7 ) — — (18.7 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 14.9 $ 2.2 $ (26.0 ) $ (8.9 ) Nine Months Ended September 30, 2017 (Dollars in millions) Investments Investment Management and Real Estate Services Corporate Total Revenue Rental $ 373.6 $ — $ — $ 373.6 Hotel 95.8 — — 95.8 Sale of real estate 103.4 — — 103.4 Investment management, property services and research fees — 32.7 — 32.7 Loan purchases, loan originations and other 15.0 — — 15.0 Total revenue 587.8 32.7 — 620.5 Operating expenses Rental operating 110.5 — — 110.5 Hotel operating 73.3 — — 73.3 Cost of real estate sold 73.7 — — 73.7 Commission and marketing — 5.9 — 5.9 Compensation and related 42.9 27.5 43.1 113.5 General and administrative 18.4 8.8 3.5 30.7 Depreciation and amortization 157.2 — — 157.2 Total operating expenses 476.0 42.2 46.6 564.8 Income from unconsolidated investments, net of depreciation and amortization 46.9 10.5 — 57.4 Operating income (loss) 158.7 1.0 (46.6 ) 113.1 Non-operating income (expense) Gain on sale of real estate, net 77.0 — — 77.0 Acquisition-related expenses (2.3 ) — — (2.3 ) Interest expense (107.8 ) — (51.1 ) (158.9 ) Other income (2.4 ) — 7.0 4.6 Provision for income taxes (3.7 ) — 2.8 (0.9 ) Total non-operating loss (39.2 ) — (41.3 ) (80.5 ) Net income (loss) 119.5 1.0 (87.9 ) 32.6 Net income attributable to noncontrolling interests (31.3 ) — — (31.3 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 88.2 $ 1.0 $ (87.9 ) $ 1.3 (Dollars in millions) September 30, 2018 December 31, 2017 Total assets Investments $ 7,126.4 $ 7,563.7 Investment management and real estate services 84.7 70.5 Corporate 170.3 90.6 Total assets $ 7,381.4 $ 7,724.8

Guarantor and Non-Guarantor F_2

Guarantor and Non-Guarantor Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2018
Guarantor and Nonguarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 36.5 $ 39.2 $ 343.7 $ — $ 419.4 Accounts receivable — 0.2 11.0 64.6 — 75.8 Loan purchases and originations — 0.9 1.2 27.3 — 29.4 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,795.4 4,024.9 — 5,820.3 Unconsolidated investments — 19.6 398.7 371.4 — 789.7 Investments in and advances to consolidated subsidiaries 1,280.7 2,617.2 1,579.7 — (5,477.6 ) — Other assets — — 46.8 200.0 — 246.8 Total assets $ 1,280.7 $ 2,674.4 $ 3,872.0 $ 5,031.9 $ (5,477.6 ) $ 7,381.4 Liabilities and equity Liabilities Accounts payable $ 0.3 $ 0.6 $ 1.6 $ 25.6 $ — $ 28.1 Accrued expenses and other liabilities 27.4 142.5 81.4 254.9 — 506.2 Mortgage debt — — 1,171.8 1,700.4 — 2,872.2 KW unsecured debt — 1,250.6 — — — 1,250.6 KWE unsecured bonds — — — 1,282.5 — 1,282.5 Total liabilities 27.7 1,393.7 1,254.8 3,263.4 — 5,939.6 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,253.0 1,280.7 2,617.2 1,579.7 (5,477.6 ) 1,253.0 Noncontrolling interests — — — 188.8 — 188.8 Total equity 1,253.0 1,280.7 2,617.2 1,768.5 (5,477.6 ) 1,441.8 Total liabilities and equity $ 1,280.7 $ 2,674.4 $ 3,872.0 $ 5,031.9 $ (5,477.6 ) $ 7,381.4 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 33.4 $ 54.9 $ 263.0 $ — $ 351.3 Accounts receivable — 0.9 10.1 51.7 — 62.7 Loan purchases and originations — — 5.8 78.9 — 84.7 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,750.0 4,693.7 — 6,443.7 Unconsolidated investments — 20.2 331.2 167.9 — 519.3 Investments in and advances to consolidated subsidiaries 1,394.5 2,642.1 1,629.4 — (5,666.0 ) — Other assets — — 40.2 222.9 — 263.1 Total assets $ 1,394.5 $ 2,696.6 $ 3,821.6 $ 5,478.1 $ (5,666.0 ) $ 7,724.8 Liabilities Accounts payable $ — $ 0.8 $ 2.5 $ 16.2 $ — 19.5 Accrued expense and other liabilities 28.9 121.9 39.7 275.4 — 465.9 Mortgage debt — — 1,137.3 2,019.3 — 3,156.6 KW unsecured debt — 1,179.4 — — — 1,179.4 KWE unsecured bonds — — — 1,325.9 — 1,325.9 Total liabilities 28.9 1,302.1 1,179.5 3,636.8 — 6,147.3 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,365.6 1,394.5 2,642.1 1,629.4 (5,666.0 ) 1,365.6 Noncontrolling interests — — — 211.9 — 211.9 Total equity 1,365.6 1,394.5 2,642.1 1,841.3 (5,666.0 ) 1,577.5 Total liabilities and equity $ 1,394.5 $ 2,696.6 $ 3,821.6 $ 5,478.1 $ (5,666.0 ) $ 7,724.8
Consolidating Statement of Operations	CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 39.4 $ 84.0 $ — $ 123.4 Hotel — — — 43.5 — 43.5 Sale of real estate — — — 6.5 — 6.5 Investment management, property services and research fees — — 11.6 0.8 — 12.4 Loan purchases, loan originations and other — — — — — — Total revenue — — 51.0 134.8 — 185.8 Operating expenses Rental operating — — 17.5 20.7 — 38.2 Hotel operating — — — 30.6 — 30.6 Cost of real estate sold — — — 5.8 — 5.8 Commission and marketing — — 1.1 — — 1.1 Compensation and related 9.2 13.9 13.8 1.4 — 38.3 General and administrative — 4.3 5.2 2.2 — 11.7 Depreciation and amortization — 0.3 13.4 37.8 — 51.5 Total operating expenses 9.2 18.5 51.0 98.5 — 177.2 Income from unconsolidated subsidiaries — (0.2 ) 14.6 9.6 — 24.0 Income from consolidated subsidiaries 22.1 61.9 58.3 — (142.3 ) — Operating income (loss) 12.9 43.2 72.9 45.9 (142.3 ) 32.6 Non-operating income (expense) Gain on sale of real estate, net — — — 39.4 — 39.4 Acquisition-related expenses — — (0.1 ) (0.3 ) — (0.4 ) Interest expense — (18.5 ) (11.6 ) (25.1 ) — (55.2 ) Other income (loss) — 2.9 — 0.5 — 3.4 Income (loss) before benefit from (provision for) income taxes 12.9 27.6 61.2 60.4 (142.3 ) 19.8 Benefit from (provision for) income taxes — (5.5 ) 0.7 (2.1 ) — (6.9 ) Net income (loss) 12.9 22.1 61.9 58.3 (142.3 ) 12.9 Net income attributable to the noncontrolling interests — — — (0.8 ) — (0.8 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 12.9 $ 22.1 $ 61.9 $ 57.5 $ (142.3 ) $ 12.1 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 128.5 $ 264.1 $ — $ 392.6 Hotel — — — 117.6 — 117.6 Sale of real estate — — — 48.7 — 48.7 Investment management, property services and research fees — — 32.0 2.8 — 34.8 Loan purchases, loan originations and other — — 0.1 1.0 — 1.1 Total revenue — — 160.6 434.2 — 594.8 Operating expenses Rental operating — — 47.3 72.2 — 119.5 Hotel operating — — — 90.8 — 90.8 Cost of real estate sold — — — 45.6 — 45.6 Commission and marketing — — 4.6 — — 4.6 Compensation and related 27.9 47.9 43.0 4.0 — 122.8 General and administrative — 13.6 15.9 7.1 — 36.6 Depreciation and amortization — 1.0 42.6 115.1 — 158.7 Total operating expenses 27.9 62.5 153.4 334.8 — 578.6 Income from unconsolidated subsidiaries — (0.9 ) 38.2 23.6 — 60.9 Income from consolidated subsidiaries 207.1 338.5 271.9 — (817.5 ) — Operating income (loss) 179.2 275.1 317.3 123.0 (817.5 ) 77.1 Non-operating income (expense) Gain on sale of real estate, net — — 61.4 242.8 — 304.2 Acquisition-related expenses — — (0.1 ) (0.5 ) — (0.6 ) Interest expense — (57.9 ) (40.8 ) (82.6 ) — (181.3 ) Other income (loss) — 12.9 — 0.6 — 13.5 Income (loss) before benefit from (provision for) income taxes 179.2 230.1 337.8 283.3 (817.5 ) 212.9 Benefit from (provision for) income taxes — (23.0 ) 0.7 (11.4 ) — (33.7 ) Net income (loss) 179.2 207.1 338.5 271.9 (817.5 ) 179.2 Net income attributable to the noncontrolling interests — — — (59.9 ) — (59.9 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 179.2 $ 207.1 $ 338.5 $ 212.0 $ (817.5 ) $ 119.3 CONSOLIDATING STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 36.1 $ 89.4 $ — $ 125.5 Hotel — — — 37.3 — 37.3 Sale of real estate — — 2.3 87.5 — 89.8 Investment management, property services and research fees — — 9.2 2.2 — 11.4 Loan purchases, loan originations and other — — — 8.5 — 8.5 Total revenue — — 47.6 224.9 — 272.5 Operating expenses Rental operating — — 13.8 24.2 — 38.0 Hotel operating — — — 26.1 — 26.1 Cost of real estate sold — — 1.8 61.6 — 63.4 Commission and marketing — — 2.0 0.1 — 2.1 Compensation and related 9.3 12.6 11.7 1.8 — 35.4 General and administrative — 3.8 4.3 2.7 — 10.8 Depreciation and amortization — 0.4 13.0 42.0 — 55.4 Total operating expenses 9.3 16.8 46.6 158.5 — 231.2 Income from unconsolidated investments — 0.6 12.1 4.9 — 17.6 Income from consolidated subsidiaries 19.1 46.4 42.8 — (108.3 ) — Operating income 9.8 30.2 55.9 71.3 (108.3 ) 58.9 Non-operating income (expense) Gain on sale of real estate, net — — — 5.3 — 5.3 Acquisition-related expenses — — (0.2 ) (0.8 ) — (1.0 ) Interest expense — (18.9 ) (10.1 ) (27.8 ) — (56.8 ) Other income — 2.7 (0.1 ) (2.9 ) — (0.3 ) Income before provision for income taxes 9.8 14.0 45.5 45.1 (108.3 ) 6.1 Provision for income taxes — 5.1 0.9 (2.3 ) — 3.7 Net income 9.8 19.1 46.4 42.8 (108.3 ) 9.8 Net Income attributable to the noncontrolling interests — — — (18.7 ) — (18.7 ) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 9.8 $ 19.1 $ 46.4 $ 24.1 $ (108.3 ) $ (8.9 ) CONSOLIDATING STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 104.4 $ 269.2 $ — $ 373.6 Hotel — — — 95.8 — 95.8 Sale of real estate — — 2.3 101.1 — 103.4 Investment management, property services and research fees — — 26.4 6.3 — 32.7 Loan purchases, loan originations and other — — 0.3 14.7 — 15.0 Total revenue — — 133.4 487.1 — 620.5 Operating expenses Rental operating — — 40.6 69.9 — 110.5 Hotel operating — — — 73.3 — 73.3 Cost of real estate sold — — 1.8 71.9 — 73.7 Commission and marketing — — 5.7 0.2 — 5.9 Compensation and related 29.4 40.4 37.9 5.8 — 113.5 General and administrative — 10.3 12.1 8.3 — 30.7 Depreciation and amortization — 1.1 36.6 119.5 — 157.2 Total operating expenses 29.4 51.8 134.7 348.9 — 564.8 Income from unconsolidated subsidiaries — 2.2 26.3 28.9 — 57.4 Income from consolidated subsidiaries 62.0 154.1 109.1 — (325.2 ) — Operating income 32.6 104.5 134.1 167.1 (325.2 ) 113.1 Non-operating income (expense) Gain on sale of real estate, net — — 46.6 30.4 — 77.0 Acquisition-related expenses — (0.1 ) (0.9 ) (1.3 ) — (2.3 ) Interest expense — (51.1 ) (28.0 ) (79.8 ) — (158.9 ) Other income — 5.9 — (1.3 ) — 4.6 Income before benefit from (provision for) income taxes 32.6 59.2 151.8 115.1 (325.2 ) 33.5 (Provision for) benefit from income taxes — 2.8 2.3 (6.0 ) — (0.9 ) Net income 32.6 62.0 154.1 109.1 (325.2 ) 32.6 Net income attributable to the noncontrolling interests — — — (31.3 ) — (31.3 ) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 32.6 $ 62.0 $ 154.1 $ 77.8 $ (325.2 ) $ 1.3
Consolidated Statement of Comprehensive Income	CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 12.9 $ 22.1 $ 61.9 $ 58.3 $ (142.3 ) $ 12.9 Other comprehensive income, net of tax: Unrealized foreign currency translation gain (7.5 ) (7.5 ) (7.1 ) (7.6 ) 22.2 (7.5 ) Amounts reclassified out of AOCI during the period 0.1 0.1 — — (0.1 ) 0.1 Unrealized currency derivative contracts loss (0.2 ) (0.2 ) 7.2 (7.4 ) 0.4 (0.2 ) Total other comprehensive (loss) income for the period $ (7.6 ) $ (7.6 ) $ 0.1 $ (15.0 ) $ 22.5 $ (7.6 ) Comprehensive income $ 5.3 $ 14.5 $ 62.0 $ 43.3 $ (119.8 ) $ 5.3 Comprehensive income attributable to noncontrolling interests — — — 0.1 — 0.1 Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. $ 5.3 $ 14.5 $ 62.0 $ 43.4 $ (119.8 ) $ 5.4 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 179.2 $ 207.1 $ 338.5 $ 271.9 $ (817.5 ) $ 179.2 Other comprehensive income, net of tax: Unrealized foreign currency translation gain (46.4 ) (46.4 ) (23.4 ) (45.0 ) 114.8 (46.4 ) Amounts reclassified out of AOCI during the period 13.2 13.2 — 18.3 (31.5 ) 13.2 Unrealized currency derivative contracts loss 22.0 22.0 23.5 (1.5 ) (44.0 ) 22.0 Total other comprehensive (loss) income for the period $ (11.2 ) $ (11.2 ) $ 0.1 $ (28.2 ) $ 39.3 $ (11.2 ) Comprehensive income $ 168.0 $ 195.9 $ 338.6 $ 243.7 $ (778.2 ) $ 168.0 Comprehensive income attributable to noncontrolling interests — — — (65.0 ) — (65.0 ) Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. $ 168.0 $ 195.9 $ 338.6 $ 178.7 $ (778.2 ) $ 103.0 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 9.8 $ 19.1 $ 46.4 $ 42.8 $ (108.3 ) $ 9.8 Other comprehensive income (loss), net of tax: Unrealized gain on marketable securities 0.1 0.1 — — (0.1 ) 0.1 Unrealized foreign currency translation gain 50.5 50.5 6.0 50.3 (106.8 ) 50.5 Amounts reclassified from accumulated other comprehensive income 0.1 — 0.1 — 0.1 (0.2 ) 0.1 Unrealized currency derivative contracts loss (11.5 ) (11.5 ) (5.7 ) (5.8 ) 23.0 (11.5 ) Total other comprehensive income for the period $ 39.2 $ 39.2 $ 0.3 $ 44.6 $ (84.1 ) $ 39.2 Comprehensive income $ 49.0 $ 58.3 $ 46.7 $ 87.4 $ (192.4 ) $ 49.0 Comprehensive income attributable to noncontrolling interests — — — (52.9 ) — (52.9 ) Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 49.0 $ 58.3 $ 46.7 $ 34.5 $ (192.4 ) $ (3.9 ) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 32.6 $ 62.0 $ 154.1 $ 109.1 $ (325.2 ) $ 32.6 Other comprehensive income (loss), net of tax: Unrealized gain on marketable securities 0.2 0.2 — — (0.2 ) 0.2 Unrealized foreign currency translation gain 171.3 171.3 24.4 162.6 (358.3 ) 171.3 Amounts reclassified from accumulated other comprehensive income 0.1 0.1 — 0.1 (0.2 ) 0.1 Unrealized currency derivative contracts loss (44.3 ) (44.3 ) (15.5 ) (28.8 ) 88.6 (44.3 ) Total other comprehensive income for the period $ 127.3 $ 127.3 $ 8.9 $ 133.9 $ (270.1 ) $ 127.3 Comprehensive loss $ 159.9 $ 189.3 $ 163.0 $ 243.0 $ (595.3 ) $ 159.9 Comprehensive income attributable to noncontrolling interests — — — (138.8 ) — (138.8 ) Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 159.9 $ 189.3 $ 163.0 $ 104.2 $ (595.3 ) $ 21.1
Condensed Consolidated Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ (0.4 ) $ (119.5 ) $ 68.0 $ 143.7 $ 91.8 Cash flows from investing activities: Additions to loans — — (0.9 ) (1.0 ) (1.9 ) Collections of loans — — 4.5 — 4.5 Net proceeds from sale of real estate — — 161.4 1,003.5 1,164.9 Purchases of and additions to real estate — — (184.3 ) (256.6 ) (440.9 ) Premiums from settlement of foreign derivative contracts — 7.8 — — 7.8 Purchases of foreign derivative contracts — (0.8 ) — — (0.8 ) Investment in marketable securities — — — — — Proceeds from sale of marketable securities — — 7.4 — 7.4 Distributions from unconsolidated investments — — 21.0 27.0 48.0 Contributions to unconsolidated investments — (0.9 ) (57.7 ) (234.5 ) (293.1 ) Additions to development project assets — — — (22.2 ) (22.2 ) Proceeds from development project assets — — — 38.9 38.9 Distributions from (investments in) consolidated subsidiaries, net 244.7 49.4 (68.5 ) (225.6 ) — Net cash provided by (used in) investing activities 244.7 55.5 (117.1 ) 329.5 512.6 Cash flows from financing activities: Borrowings under senior notes payable — 246.6 — — 246.6 Borrowings under line of credit — 225.0 — — 225.0 Repayment of line of credit — (325.0 ) — — (325.0 ) Borrowings under investment debt — — 311.6 167.1 478.7 Repayment of investment debt — — (276.4 ) (443.4 ) (719.8 ) Repayment of term loan — (75.0 ) — — (75.0 ) Debt issue costs — (4.5 ) (1.7 ) (1.5 ) (7.7 ) Repurchase and retirement of common stock (160.1 ) — — — (160.1 ) Dividends paid (84.2 ) — — — (84.2 ) KWE closing dividend — — — (17.2 ) (17.2 ) Contributions from noncontrolling interests, excluding KWE — — — 22.8 22.8 Distributions to noncontrolling interests — — — (104.9 ) (104.9 ) Net cash (used in) provided by financing activities (244.3 ) 67.1 33.5 (377.1 ) (520.8 ) Effect of currency exchange rate changes on cash and cash equivalents — — — (15.5 ) (15.5 ) Net change in cash and cash equivalents — 3.1 (15.6 ) 80.6 68.1 Cash and cash equivalents, beginning of period — 33.4 54.8 263.1 351.3 Cash and cash equivalents, end of period $ — $ 36.5 $ 39.2 $ 343.7 $ 419.4 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2017 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ 2.0 $ (205.6 ) $ 47.4 $ 285.8 $ 129.6 Cash flows from investing activities: Additions to loans — — — — — Collections of loans — — 6.4 10.5 16.9 Net proceeds from sale of real estate — — 110.6 151.3 261.9 Purchases of and additions to real estate — — (224.8 ) (250.2 ) (475.0 ) Additions to nonrefundable escrow deposits — — — — — Proceeds from settlement of foreign derivative contracts — 3.1 — — 3.1 Purchases of foreign derivative contracts — (0.6 ) — — (0.6 ) Investment in marketable securities — — (0.6 ) — (0.6 ) Proceeds from sale of marketable securities — — 0.6 — 0.6 Distributions from unconsolidated investments — — 70.5 18.9 89.4 Contributions to unconsolidated investments — — (40.6 ) (21.7 ) (62.3 ) Additions to development project assets — — — (13.0 ) (13.0 ) Proceeds from development project assets — — — 36.9 36.9 Distributions from (investments in) consolidated subsidiaries, net 100.7 188.9 (39.1 ) (250.5 ) — Net cash provided by (used in) investing activities 100.7 191.4 (117.0 ) (317.8 ) (142.7 ) Cash flows from financing activities: Borrowings under line of credit — 400.0 — — 400.0 Repayment of lines of credit — (50.0 ) — — (50.0 ) Borrowings under investment debt — — 106.0 152.3 258.3 Repayment of investment debt — — (35.8 ) (106.8 ) (142.6 ) Debt issue costs — (0.1 ) (0.5 ) (0.8 ) (1.4 ) Costs associated with KWE transaction (10.0 ) — — — (10.0 ) Repurchase and retirement of common stock (35.6 ) — — — (35.6 ) Dividends paid (57.1 ) — — — (57.1 ) Acquisition of KWE shares from noncontrolling interest holders — — — (3.3 ) (3.3 ) Contributions from noncontrolling interests, excluding KWE — — — 43.6 43.6 Distributions to noncontrolling interests — — — (93.3 ) (93.3 ) Net cash (used in) provided by financing activities (102.7 ) 349.9 69.7 (8.3 ) 308.6 Effect of currency exchange rate changes on cash and cash equivalents — — — 51.5 51.5 Net change in cash and cash equivalents — 335.7 0.1 11.2 347.0 Cash and cash equivalents, beginning of period — 106.0 45.4 734.3 885.7 Cash and cash equivalents, end of period $ — $ 441.7 $ 45.5 $ 745.5 $ 1,232.7

Summary of Significant Accoun_3

Summary of Significant Accounting Polices and Adoption of New Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other assets	$ (246.8)			$ (246.8)		$ (263.1)
Unconsolidated investments	789.7			789.7		519.3
Income from unconsolidated investments	24	$ 17.6		60.9	$ 57.4
Accounting Standards Update 2014-09 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Income from unconsolidated investments	$ 7.6			$ 24.7
Accounting Standards Update 2014-09 [Member] | Restatement Adjustment [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other assets						32.9
Unconsolidated investments						$ 32.9
Income from unconsolidated investments		4.7	$ 4.7		8.6
Investment management, property services and research fees		$ 4.7			$ 8.6

Loan Purchases and Originatio_2

Loan Purchases and Originations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Business Acquisition [Line Items]
Loan purchases and originations	$ 29.4		$ 29.4		$ 84.7
Interest income on loans	0	$ 8.5	0	$ 15
6 Hotels, United Kingdom [Member]
Business Acquisition [Line Items]
Real estate converted from loan	52.8		52.8
Notes Receivable [Member]
Business Acquisition [Line Items]
Loan purchases and originations	$ 29.4		$ 29.4		$ 84.7

Real Estate and In-Place Leas_3

Real Estate and In-Place Lease Value - Schedule of Investments in Consolidated Properties (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Real Estate [Abstract]
Land	$ 1,393.6	$ 1,509.4
Buildings	4,058.6	4,558
Building improvements	611.2	511.2
In-place lease values	359.3	417.3
Real estate, gross	6,422.7	6,995.9
Less accumulated depreciation and amortization	(602.4)	(552.2)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	$ 5,820.3	$ 6,443.7

Real Estate and In-Place Leas_4

Real Estate and In-Place Lease Value - Additional Information (Details)	9 Months Ended
	Sep. 30, 2018
Building and Building Improvements [Member] | Maximum [Member]
Real Estate [Line Items]
Buildings and building improvements estimated lives	40 years
Leases, Acquired-in-Place [Member]
Real Estate [Line Items]
Acquired in-place lease estimated useful life	8 years 10 months 24 days

Real Estate and In-Place Leas_5

Real Estate and In-Place Lease Value - Schedule of Acquisitions (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)property
Business Acquisition [Line Items]
Land	$ 68.3
Building	205.3
Acquired in place lease values	2.9
Investment debt	164.8
NCI	0
KWH Shareholders' Equity	$ 111.7
Multifamily and Commercial Property Acquired In Western U.S. [Member] | Commercial [Member]
Business Acquisition [Line Items]
Number of properties acquired | property	1
Western U.S. [Member] | Multifamily and Commercial Property Acquired In Western U.S. [Member]
Business Acquisition [Line Items]
Land	$ 53
Building	109.3
Acquired in place lease values	0.8
Investment debt	103.5
NCI	0
KWH Shareholders' Equity	$ 59.6
Western U.S. [Member] | Multifamily and Commercial Property Acquired In Western U.S. [Member] | Multifamily [Member]
Business Acquisition [Line Items]
Number of properties acquired | property	3
United Kingdom [Member] | Residential Property In United Kingdom [Member]
Business Acquisition [Line Items]
Land	$ 4.2
Building	0
Acquired in place lease values	0
Investment debt	0
NCI	0
KWH Shareholders' Equity	$ 4.2
United Kingdom [Member] | Residential Property In United Kingdom [Member] | Residential Property [Member]
Business Acquisition [Line Items]
Number of properties acquired | property	1
Ireland [Member] | Multifamily Property Acquired [Member]
Business Acquisition [Line Items]
Land	$ 11.1
Building	96
Acquired in place lease values	2.1
Investment debt	61.3
NCI	0
KWH Shareholders' Equity	$ 47.9
Ireland [Member] | Multifamily Property Acquired [Member] | Multifamily [Member]
Business Acquisition [Line Items]
Number of properties acquired | property	1

Real Estate and In-Place Leas_6

Real Estate and In-Place Lease Value - Gains on Sale of Real Estate, Net (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)property	Sep. 30, 2017USD ($)
Real Estate [Line Items]
Gain on sale of real estate, net | $	$ 307.3	$ 106.7
Gain on sale of real estate, attributable to noncontrolling interest | $	70
Real Estate, Excluding Development Project [Member]
Real Estate [Line Items]
Gain on sale of real estate, net | $	299.1
Commercial [Member] | United Kingdom [Member]
Real Estate [Line Items]
Gain on sale of real estate, net | $	$ (11.2)
Number of real estate properties sold	21
Commercial [Member] | Ireland [Member]
Real Estate [Line Items]
Number of real estate properties sold	1
Commercial [Member] | Italy [Member]
Real Estate [Line Items]
Number of real estate properties sold	1
Multifamily [Member] | Ireland [Member]
Real Estate [Line Items]
Number of real estate properties sold	6
Multifamily [Member] | Western U.S. [Member]
Real Estate [Line Items]
Number of real estate properties sold	3
Residential Property [Member] | Ireland [Member]
Real Estate [Line Items]
Number of real estate properties sold	1
Residential Property [Member] | Western U.S. [Member]
Real Estate [Line Items]
Number of real estate properties sold	1

Real Estate and In-Place Leas_7

Real Estate and In-Place Lease Value - AXA Joint Venture (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018assetpropertyproperty_unit	Sep. 30, 2018USD ($)assetpropertyproperty_unit
Axa Joint Venture [Member]
Real Estate [Line Items]
Number of properties | property	3	3
Deconsolidation, gain (loss) | $		$ 102.7
AXA Investment Managers [Member] | Axa Joint Venture [Member]
Real Estate [Line Items]
Equity method investment, ownership percentage	50.00%	50.00%
Kennedy Wilson Holdings, Inc. and AXS Investment Managers [Member] | Axa Joint Venture [Member]
Real Estate [Line Items]
Deconsolidation, gain (loss) | $		$ 169.5
Multifamily [Member] | Axa Joint Venture [Member]
Real Estate [Line Items]
Number of units | property_unit	1,173	1,173
Multifamily [Member] | Kennedy Wilson Holdings, Inc. and AXS Investment Managers [Member]
Real Estate [Line Items]
Number of assets		6
Ireland [Member] | Multifamily [Member]
Real Estate [Line Items]
Number of real estate properties sold | property		6
Ireland [Member] | Multifamily [Member] | Kennedy Wilson Holdings, Inc. and AXS Investment Managers [Member]
Real Estate [Line Items]
Number of real estate properties sold | property_unit	411
Dublin, Ireland [Member] | Multifamily [Member] | Kennedy Wilson Holdings, Inc. and AXS Investment Managers [Member]
Real Estate [Line Items]
Number of assets	2
Cork, Ireland [Member] | Multifamily [Member] | Kennedy Wilson Holdings, Inc. and AXS Investment Managers [Member]
Real Estate [Line Items]
Number of assets	1

Real Estate and In-Place Leas_8

Real Estate and In-Place Lease Value - Guarantees (Details) $ in Millions	Sep. 30, 2018USD ($)
Real Estate [Line Items]
Guarantor obligations, maximum exposure, percentage of property level debt	2.00%
Performance Guarantee [Member] | Loans Payable [Member]
Real Estate [Line Items]
Guarantor obligations, maximum exposure	$ 53.4

Unconsolidated Investments - Na

Unconsolidated Investments - Narrative (Details) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2018USD ($)property_unit	Sep. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Sep. 30, 2018USD ($)joint_ventureproperty_unit	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Schedule of Equity Method Investments [Line Items]
Income from unconsolidated investments				$ 60.9	$ 57.4
Equity method investment distribution received				33.7
Income from unconsolidated investments	$ 24	$ 17.6		60.9	57.4
Payments to acquire equity method investments				293.1	62.3
Proceeds from equity method investments				$ 81.7
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	$ 46.6			$ 46.6
Vintage Housing Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Number of units | property_unit	6,500			6,500
Equity method investments	$ 111			$ 111		$ 114.8
Income from unconsolidated investments	7	5.6		22.6	21.3
Gain on fair value through equity income	5.2	3.7		17.3	16.1
Equity method investment distribution received	$ 1.8	1.9		$ 5.3	5.1
Vintage Housing Holdings [Member] | Units Under Development or Undergoing Entitlements
Schedule of Equity Method Investments [Line Items]
Number of units | property_unit	2,000			2,000
Axa Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments				$ 131.8
Mixed-Use Development Project [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments				79.1
Development Project [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments				30.2
Kennedy Wilson Real Estate Fund VI, LP [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments				$ 15
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	5.00%			5.00%
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%			50.00%
Accounting Standards Update 2014-09 [Member]
Schedule of Equity Method Investments [Line Items]
Income from unconsolidated investments	$ 7.6			$ 24.7
Restatement Adjustment [Member] | Accounting Standards Update 2014-09 [Member]
Schedule of Equity Method Investments [Line Items]
Income from unconsolidated investments		4.7	$ 4.7		8.6
Investment management, property services and research fees		$ 4.7			$ 8.6

Unconsolidated Investments - Sc

Unconsolidated Investments - Schedule of Joint Ventures (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 789.7	$ 519.3
Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	573.3	506.9
Ireland [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	211.1
United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	5.3	9.9
Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures		2.5
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	328.1	202.2
Multifamily [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	195.7	199.7
Multifamily [Member] | Ireland [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	132.4
Multifamily [Member] | United Kingdom [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		2.5
Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	49.3	52
Commercial [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	44	42.1
Commercial [Member] | Ireland [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0
Commercial [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	5.3	9.9
Commercial [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures		0
Mixed-Use [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	78.7
Mixed-Use [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0
Mixed-Use [Member] | Ireland [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	78.7
Mixed-Use [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0
Funds [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	91.4	85.3
Funds [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	91.4	85.3
Funds [Member] | Ireland [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0
Funds [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Funds [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures		0
Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	242.2	179.8
Residential and Other [Member] | Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	242.2	179.8
Residential and Other [Member] | Ireland [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0
Residential and Other [Member] | United Kingdom [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 0	0
Residential and Other [Member] | Japan [Member]
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures		$ 0

Unconsolidated Investments - Ca

Unconsolidated Investments - Cash Distributions by Investment Type and Location (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Schedule of Equity Method Investments [Line Items]
Operating	$ 33.7
Investing	48	$ 89.4
Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	21.3
Investing	29.7
Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	1.3
Investing	2.3
Funds [Member]
Schedule of Equity Method Investments [Line Items]
Operating	10.4
Investing	10.9
Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0.7
Investing	5.1
Western U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Operating	33.6
Investing	45.8
Western U.S. [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	21.2
Investing	27.5
Western U.S. [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	1.3
Investing	2.3
Western U.S. [Member] | Funds [Member]
Schedule of Equity Method Investments [Line Items]
Operating	10.4
Investing	10.9
Western U.S. [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0.7
Investing	5.1
Japan [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0.1
Investing	2.2
Japan [Member] | Multifamily [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0.1
Investing	2.2
Japan [Member] | Commercial [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
Japan [Member] | Funds [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
Japan [Member] | Residential and Other [Member]
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	$ 0

Fair Value Measurements and t_3

Fair Value Measurements and the Fair Value Option - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	$ 597.7	$ 380.7
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	597.7	380.7
Marketable securities		7.5
Total	541.5	287.3
Recurring [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	(56.2)	(100.9)
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	0	0
Marketable securities		7.5
Total	0	7.5
Recurring [Member] | Level 1 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net 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
Total	(56.2)	(100.9)
Recurring [Member] | Level 2 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	(56.2)	(100.9)
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	597.7	380.7
Marketable securities		0
Total	597.7	380.7
Recurring [Member] | Level 3 [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	$ 0	$ 0

Fair Value Measurements and t_4

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments, Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)investment	Dec. 31, 2017USD ($)
Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value option	$ 506.3	$ 295.4
Funds	91.4	$ 85.3
Unfunded capital commitments	46.6
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	$ 38
Funds [Member] | Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Number of unconsolidated investments with fair value option election | investment	21

Fair Value Measurements and t_5

Fair Value Measurements and the Fair Value Option - Unconsolidated Investments (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total	$ 597.7	$ 380.7
Equity Method Investments [Member]
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
FV Option	506.3	295.4
Funds	91.4	85.3
Total	$ 597.7	$ 380.7

Fair Value Measurements and t_6

Fair Value Measurements and the Fair Value Option - Schedule of Changes in Level 3 Investments (Details) - Equity Method Investments [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 478.3	$ 361.9	$ 380.7	$ 356.7
Unrealized and realized gains	31.6	16	69.8	47.5
Unrealized and realized losses	(8.1)	0	(14.3)	(0.8)
Contributions	131.3	22.4	247.3	47.5
Distributions	(10.2)	(21.4)	(60.5)	(95.9)
Other	(25.2)	(0.1)	(25.3)	23.8
Ending balance	$ 597.7	$ 378.8	$ 597.7	$ 378.8

Fair Value Measurements and t_7

Fair Value Measurements and the Fair Value Option - Schedule of Significant Inputs (Details)	Sep. 30, 2018
Measurement Input, Cap Rate [Member] | Office [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0450
Measurement Input, Cap Rate [Member] | Office [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0675
Measurement Input, Cap Rate [Member] | Retail [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0525
Measurement Input, Cap Rate [Member] | Retail [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0950
Measurement Input, Cap Rate [Member] | Multifamily [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0475
Measurement Input, Cap Rate [Member] | Multifamily [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0775
Measurement Input, Discount Rate [Member] | Office [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0700
Measurement Input, Discount Rate [Member] | Office [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0875
Measurement Input, Discount Rate [Member] | Retail [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0650
Measurement Input, Discount Rate [Member] | Retail [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.1150
Measurement Input, Discount Rate [Member] | Multifamily [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0800
Measurement Input, Discount Rate [Member] | Multifamily [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0975
Measurement Input, Discount Rate [Member] | Residential [Member] | Minimum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.1200
Measurement Input, Discount Rate [Member] | Residential [Member] | Maximum [Member] | Income and Market Approach Technique [Member] | Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.1500
Measurement Input, Credit Spread [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0129
Measurement Input, Credit Spread [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0346

Fair Value Measurements and t_8

Fair Value Measurements and the Fair Value Option - Derivatives Financial Instruments (Details) € in Millions, £ in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2018GBP (£)	Sep. 30, 2018EUR (€)	Dec. 31, 2017USD ($)
Derivative [Line Items]
Unrealized (losses) gains, arising during the period	$ (17.3)
Hedge Asset	21.2			$ 2.4
Cash Received (Paid)
Deferred taxes on unrealized gains (losses), arising during the period	7.1
Amounts reclassified out of AOCI during the period, taxes	(1.3)
Foreign Currency Translation [Member]
Derivative [Line Items]
Unrealized (losses) gains, arising during the period	(47.4)
Cash Received (Paid)
Deferred taxes on unrealized gains (losses), arising during the period	(1)
Amounts reclassified out of AOCI during the period, taxes	(4.2)
Currency Derivative Contracts [Member]
Derivative [Line Items]
Unrealized (losses) gains, arising during the period	30.1
Cash Received (Paid)
Deferred taxes on unrealized gains (losses), arising during the period	8.1
Amounts reclassified out of AOCI during the period, taxes	2.8
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Level 2 [Member]
Derivative [Line Items]
Hedge Asset	21.2
Hedge Liability	(77.3)
Change in Unrealized Gains (Losses)	22.3
Realized Gains (Losses)	21.4
Cash Received (Paid)
Total	6.9
Designated as Hedging Instrument [Member] | Derivatives Outstanding [Member] | Level 2 [Member]
Derivative [Line Items]
Hedge Asset	21.2
Hedge Liability	(77.3)
Change in Unrealized Gains (Losses)	20.3
Realized Gains (Losses)	(2.4)
Cash Received (Paid)
Cash Paid	(0.8)
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, One [Member]
Derivative [Line Items]
Notional Amount | €			€ 175
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, One [Member] | Level 2 [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	(5.2)
Change in Unrealized Gains (Losses)	(2.8)
Realized Gains (Losses)	(2.4)
Cash Received (Paid)
Cash Paid	0
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Two [Member] | KWE [Member]
Derivative [Line Items]
Notional Amount | €			€ 310.8
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Two [Member] | Level 2 [Member] | KWE [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	(70)
Change in Unrealized Gains (Losses)	0.1
Realized Gains (Losses)	0
Cash Received (Paid)
Cash Paid	0
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Three [Member] | Level 2 [Member] | KWE [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains (Losses)	(1.6)
Realized Gains (Losses)	0
Cash Received (Paid)
Cash Paid	0
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Four [Member]
Derivative [Line Items]
Notional Amount | £		£ 600.3
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Four [Member] | Level 2 [Member]
Derivative [Line Items]
Hedge Asset	21.2
Hedge Liability	(2.1)
Change in Unrealized Gains (Losses)	24.6
Realized Gains (Losses)	0
Cash Received (Paid)
Cash Paid	(0.8)
Designated as Hedging Instrument [Member] | Derivative Settled [Member] | Level 2 [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains (Losses)	2
Realized Gains (Losses)	23.8
Cash Received (Paid)
Cash Received	7.7
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Seven [Member] | Level 2 [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains (Losses)	(1.5)
Realized Gains (Losses)	23.1
Cash Received (Paid)
Cash Received	14.4
Designated as Hedging Instrument [Member] | Foreign Exchange Contract, Eight [Member] | Level 2 [Member]
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains (Losses)	3.5
Realized Gains (Losses)	0.7
Cash Received (Paid)
Cash Paid	$ (6.7)

Fair Value Measurements and t_9

Fair Value Measurements and the Fair Value Option - Fair Value of Financial Instruments, Narrative (Details) - USD ($) $ in Billions	Sep. 30, 2018	Dec. 31, 2017
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	$ 5.4	$ 5.7
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	$ 5.4	$ 5.8

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Other Assets [Abstract]
Development project asset	$ 41.1	$ 55.3
Straight line rent	32.5	24
Goodwill	23.9	23.9
Hedge assets	21.2	2.4
Prepaid expenses	17.8	13.3
Leasing commissions, net of accumulated amortization of $3.3 and $2.2 at September 30, 2018 and December 31, 2017, respectively	11.8	10.1
Other, net of accumulated amortization of $2.7 and $2.6 at September 30, 2018 and December 31, 2017, respectively	11.3	10.7
Marketable securities	0	7.5
VAT receivable	4.4	5
Deposits	3	3.5
Other Assets	246.8	263.1
Accumulated amortization, leasing commissions	3.3	2.2
Accumulated amortization, other	2.7	2.6
Furniture and Fixtures [Member]
Other Assets [Abstract]
Furniture and equipment net of accumulated depreciation of $38.5 and $35.8 at September 30, 2018 and December 31, 2017, respectively	33.6	44.3
Accumulated amortization, office furniture and equipment	38.5	35.8
Above Market Leases [Member]
Other Assets [Abstract]
Above-market leases, net of accumulated amortization of $48.9 and $44.3 at September 30, 2018 and December 31, 2017, respectively	46.2	63.1
Accumulated amortization, above-market leases	$ 48.9	$ 44.3

Other Assets - Additional Infor

Other Assets - Additional Information (Details) ft² in Thousands, $ in Millions	May 12, 2017ft²	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Real Estate [Line Items]
Revenue		$ 185.8	$ 272.5	$ 594.8	$ 620.5
Proceeds from development project asset				38.9	36.9
Office Building [Member] | Ireland [Member]
Real Estate [Line Items]
Square feet of property sold | ft²	130
Real Estate [Member]
Real Estate [Line Items]
Revenue		6.5	89.8	48.7	103.4
Cost of goods and services		$ 5.8	$ 63.4	45.6	$ 73.7
Real Estate [Member] | Office Building [Member] | Ireland [Member]
Real Estate [Line Items]
Revenue				25
Cost of goods and services				$ 22.2

Mortgage Debt - Schedule of Mor

Mortgage Debt - Schedule of Mortgage Debt (Details) - Mortgage Debt [Member] - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	$ 2,889.5	$ 3,180.5
Unamortized loan fees	(17.3)	(23.9)
Long-term debt	2,872.2	3,156.6
Unamortized discount (premium)	(2)	(2.4)
Mortgage Loans Secured by Multi-Family Properties [Member] | Western U.S. [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	1,244.5	1,227.5
Mortgage Loans Secured by Multi-Family Properties [Member] | Ireland [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	12	263.2
Mortgage Loans Secured by Commercial [Member] | Western U.S. [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	384.6	370.7
Mortgage Loans Secured by Commercial [Member] | United Kingdom [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	510.7	583.2
Mortgage Loans Secured by Commercial [Member] | Ireland [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	524.5	505
Mortgage Loans Secured by Commercial [Member] | Spain [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	91.6	95.5
Mortgage Loans Secured by Hotel [Member] | Western U.S. [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	38.1	49
Mortgage Loans Secured by Hotel [Member] | Ireland [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	$ 83.5	$ 86.4

Mortgage Debt - Mortgage Debt,

Mortgage Debt - Mortgage Debt, Additional Information (Details)	9 Months Ended
	Sep. 30, 2018acquisitionloan	Dec. 31, 2017
Debt Instrument [Line Items]
Number of acquisitions partially financed with mortgages | acquisition	5
Mortgage Debt [Member]
Debt Instrument [Line Items]
Weighted-average interest rate of investment debt	3.42%	3.35%
Percent of property level debt with fixed rate	68.00%	74.00%
Percent of property level debt with floating rate and interest caps	20.00%	8.00%
Percent of property level debt with floating rate, without interest caps	12.00%	18.00%
Weighted average cap strike price	2.57%
Number of loans refinanced | loan	11

Mortgage Debt - Schedule of Mat

Mortgage Debt - Schedule of Maturities (Details) - Mortgage Debt [Member] - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
2,018	$ 10.5
2,019	286.7
2,020	146.1
2,021	170.7
2,022	365.1
Thereafter	1,908.4
Long-term debt, gross	2,887.5
Debt premium	2
Unamortized loan fees	(17.3)	$ (23.9)
Long-term debt	$ 2,872.2	$ 3,156.6

KW Unsecured Debt - Schedule of

KW Unsecured Debt - Schedule of Unsecured Debt (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
KW Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 1,270.1	$ 1,198.1
Unamortized loan fees	(19.5)	(18.7)
Long-term debt	1,250.6	1,179.4
Unamortized discount (premium)	4.9	1.9
Line of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt (excluding loan fees)	125	300
Senior Notes [Member]
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 1,145.1	$ 898.1

KW Unsecured Debt - Borrowings

KW Unsecured Debt - Borrowings Under Credit Facilities (Details) - USD ($)	Oct. 20, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Line of Credit Facility [Line Items]
Repayment of lines of credit		$ 325,000,000	$ 50,000,000
Repayments of term loan		75,000,000	$ 0
A&R Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity and debt instrument, face amount		700,000,000
Line of Credit [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt (excluding loan fees)		125,000,000		$ 300,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | A&R Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 500,000,000
Maturity of extension		1 year
Maximum consolidated leverage ratio	65.00%
Fixed charge coverage ratio, measurement period	12 months
Covenant, percent of new equity offerings	50.00%
Maximum secured recourse leverage multiplier	1.5
Proceeds from issuance of debt		$ 225,000,000
Repayments of debt		400,000,000
Repayment of lines of credit		325,000,000
Maximum amount outstanding during period		375,000,000
Debt (excluding loan fees)		125,000,000
Remaining borrowing capacity		500,000,000
Average outstanding amount		$ 206,900,000
Line of Credit [Member] | Revolving Credit Facility [Member] | A&R Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Fixed charge coverage ratio	1.70
Tangible net worth	$ 1,066,775,300
Liquidity	$ 75,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | A&R Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Secured recourse leverage ratio	3.50%
Liquidity	$ 300,351,000
Adjusted secured leverage ratio	55.00%
Line of Credit [Member] | Revolving Credit Facility [Member] | A&R Facility [Member] | LIBOR [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)		1.75%
Line of Credit [Member] | Revolving Credit Facility [Member] | A&R Facility [Member] | LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)		2.75%
Medium-term Notes [Member] | A&R Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 200,000,000
Medium-term Notes [Member] | A&R Facility [Member] | LIBOR [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)		1.65%
Medium-term Notes [Member] | A&R Facility [Member] | LIBOR [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)		2.65%
Medium-term Notes [Member] | Revolving Credit Facility [Member] | A&R Facility [Member]
Line of Credit Facility [Line Items]
Repayments of term loan		$ 75,000,000
KW Unsecured Debt [Member]
Line of Credit Facility [Line Items]
Debt (excluding loan fees)		$ 1,270,100,000		$ 1,198,100,000

KW Unsecured Debt - Senior Note

KW Unsecured Debt - Senior Notes (Details) - Senior Notes [Member]	Sep. 30, 2018	Mar. 02, 2018USD ($)	Oct. 20, 2017USD ($)
Maximum [Member]
Debt Instrument [Line Items]
Balance sheet leverage ratio	1.50
Balance sheet leverage at period end	1.08
5.875% Percent Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
Debt face value		$ 250,000,000	$ 900,000,000
Interest rate (as a percent)		5.875%	5.875%
Debt price percentage of principal amount		98.625%

KWE Unsecured Bonds - Schedule

KWE Unsecured Bonds - Schedule of KWE Unsecured Bonds (Details) - KWE Unsecured Bonds [Member] - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt	$ 1,282.5	$ 1,325.9
KWE [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	1,287.1	1,331.3
Unamortized loan fees	(4.6)	(5.4)
Long-term debt	1,282.5	1,325.9
Unamortized discount (premium)	3.8	4.3
KWE [Member] | KWE Bonds [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	651.5	675.6
KWE [Member] | KWE Euro Medium Term Note Programme [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	$ 635.6	$ 655.7

KWE Unsecured Bonds - Additiona

KWE Unsecured Bonds - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2018EUR (€)	Sep. 30, 2017USD ($)	Sep. 30, 2018GBP (£)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Unrealized foreign currency translation loss	$ 7.5	$ (50.5)	$ 46.4		$ (171.3)
KWE [Member] | United Kingdom, Pounds [Member]
Debt Instrument [Line Items]
Unrealized foreign currency translation loss			1.6
KWE [Member] | KWE Unsecured Bonds [Member]
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	$ 1,287.1		$ 1,287.1				$ 1,331.3
Maximum percentage of total assets	60.00%		60.00%			60.00%
Maximum ratio of consolidated secured indebtedness to total assets	50.00%		50.00%			50.00%
Interest coverage ratio	1.50		1.50			1.50
Maximum ratio of unencumbered assets to unsecured indebtedness	125.00%		125.00%			125.00%
KWE [Member] | KWE Unsecured Bonds [Member] | KWE Bonds [Member]
Debt Instrument [Line Items]
Debt face value | £						£ 500,000,000
Interest rate (as a percent)	3.95%		3.95%			3.95%
Mortgage debt (excluding loan fees)	$ 651.5		$ 651.5				675.6
Effective interest rate	3.35%		3.35%			3.35%
Percentage of proceeds converted to Euros with swaps			50.00%	50.00%
KWE [Member] | KWE Unsecured Bonds [Member] | KWE Euro Medium Term Note Programme [Member]
Debt Instrument [Line Items]
Debt face value	$ 2,600		$ 2,600			£ 2,000,000,000
Mortgage debt (excluding loan fees)	$ 635.6		635.6				$ 655.7
Proceeds from issuance of debt			$ 638.2	€ 550,000,000
Annual fixed coupon rate	3.25%		3.25%			3.25%

Equity - Common Stock (Details)

Equity - Common Stock (Details) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Mar. 20, 2018	Feb. 25, 2018
Equity, Class of Treasury Stock [Line Items]
Authorized amount of stock to repurchase			$ 250,000,000	$ 100,000,000
Stock repurchased during period, value	$ 153,300,000	$ 1,600,000
Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Shares retired due to common stock repurchase program (in shares)	8,488,141	77,155

Equity - Dividend Distributions

Equity - Dividend Distributions (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Declared
Common stock	$ 83.4	$ 58.6
Paid
Common Stock	$ 84.2	$ 57.1

Equity - Share-Based Compensati

Equity - Share-Based Compensation (Details) - Restricted Stock [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 9.2	$ 9.3	$ 27.9	$ 29.4
Shares paid for tax withholding for share based compensation (in shares)			380,768	1,460,251
Payments related to tax withholding for share-based compensation			$ 6.8	$ 34

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	$ 1,577.5
Unrealized (losses) gains, arising during the period	(17.3)
Amounts reclassified out of AOCI during the period, gross	14.5
Amounts reclassified out of AOCI during the period, taxes	(1.3)
Noncontrolling interest	(5.1)
Deferred taxes on unrealized gains (losses), arising during the period	(7.1)
Balance end of period	1,441.8
Accumulated other comprehensive loss	(443.4)	$ (427.1)
Accumulated Other Comprehensive Income Loss [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(68.7)
Balance end of period	(85)
Foreign Currency Translation [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(46.6)
Unrealized (losses) gains, arising during the period	(47.4)
Amounts reclassified out of AOCI during the period, gross	22.5
Amounts reclassified out of AOCI during the period, taxes	(4.2)
Noncontrolling interest	(5.1)
Deferred taxes on unrealized gains (losses), arising during the period	1
Balance end of period	(79.8)
Currency Derivative Contracts [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(22.2)
Unrealized (losses) gains, arising during the period	30.1
Amounts reclassified out of AOCI during the period, gross	(7.8)
Amounts reclassified out of AOCI during the period, taxes	2.8
Noncontrolling interest	0
Deferred taxes on unrealized gains (losses), arising during the period	(8.1)
Balance end of period	(5.2)
Marketable Securities [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	0.1
Unrealized (losses) gains, arising during the period	0
Amounts reclassified out of AOCI during the period, gross	(0.2)
Amounts reclassified out of AOCI during the period, taxes	0.1
Noncontrolling interest	0
Deferred taxes on unrealized gains (losses), arising during the period	0
Balance end of period	0
AOCI Attributable to Noncontrolling Interest [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated other comprehensive loss	$ 358.4

Equity - Noncontrolling Interes

Equity - Noncontrolling Interests (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)asset	Dec. 31, 2017USD ($)
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 188.8	$ 211.9
Noncontrolling Interest [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 188.8	$ 211.9
Multifamily [Member] | Kennedy Wilson Holdings, Inc. and AXS Investment Managers [Member]
Noncontrolling Interest [Line Items]
Number of assets | asset	6

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 12.1	$ (8.9)	$ 119.3	$ 1.3
Dividends allocated to participating securities	(0.2)	(0.2)	(0.8)	(0.7)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	11.9	(9.1)	118.5	0.6
Dividends declared on common shares	(27.2)	(19.3)	(82.9)	(57.9)
Undistributed earnings (losses) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities	$ (15.3)	$ (28.4)	$ 35.6	$ (57.3)
Distributed earnings per share (in dollars per share)	$ 0.19	$ 0.17	$ 0.57	$ 0.52
Undistributed earnings (losses) per share (in dollars per share)	(0.10)	(0.25)	0.26	(0.51)
Income per basic and diluted share (in dollars per share)	$ 0.09	$ (0.08)	$ 0.83	$ 0.01
Weighted average shares outstanding for basic (in shares)	141,003,413	111,966,716	143,450,695	111,955,924
Weighted average shares outstanding for diluted (in shares)	141,800,972	111,966,716	144,516,045	111,955,924
Dividends declared per common share (in dollars per share)	$ 0.19	$ 0.17	$ 0.57	$ 0.51
Potentially dilutive securities (in shares)	115,395	1,145,032	0	1,028,565

Segment Information (Details)

Segment Information (Details) ft² in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2018USD ($)ft²office	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)ft²segmentofficeline_of_business	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of core operating segments | segment				2
Revenue
Total revenue		$ 185.8	$ 272.5	$ 594.8	$ 620.5
Operating expenses
General and administrative		11.7	10.8	36.6	30.7
Depreciation and amortization		51.5	55.4	158.7	157.2
Total operating expenses		177.2	231.2	578.6	564.8
Income from unconsolidated investments		24	17.6	60.9	57.4
Operating income		32.6	58.9	77.1	113.1
Non-operating income (expense)
Gain on sale of real estate, net		39.4	5.3	304.2	77
Acquisition-related expenses		(0.4)	(1)	(0.6)	(2.3)
Interest expense		(55.2)	(56.8)	(181.3)	(158.9)
Other (expense) income		3.4	(0.3)	13.5	4.6
(Provision for) benefit from income taxes		(6.9)	3.7	(33.7)	(0.9)
Total non-operating income (loss)		(19.7)	(49.1)	102.1	(80.5)
Net income		12.9	9.8	179.2	32.6
Net income attributable to the noncontrolling interests		(0.8)	(18.7)	(59.9)	(31.3)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		12.1	(8.9)	119.3	1.3
Segment Reporting Information, Assets [Abstract]
Total assets	[1]	7,381.4		7,381.4		$ 7,724.8
Corporate, Non-Segment [Member]
Revenue
Total revenue		0	0	0	0
Operating expenses
General and administrative		1.5	1.2	4.7	3.5
Depreciation and amortization		0	0	0	0
Total operating expenses		15.6	14.8	49.2	46.6
Income from unconsolidated investments		0	0	0	0
Operating income		(15.6)	(14.8)	(49.2)	(46.6)
Non-operating income (expense)
Gain on sale of real estate, net		0	0	0	0
Acquisition-related expenses		0	0	0	0
Interest expense		(18.6)	(18.9)	(57.9)	(51.1)
Other (expense) income		3.3	2.6	13.1	7
(Provision for) benefit from income taxes		3.7	5.1	(23.1)	2.8
Total non-operating income (loss)		(11.6)	(11.2)	(67.9)	(41.3)
Net income		(27.2)	(26)	(117.1)	(87.9)
Net income attributable to the noncontrolling interests		0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(27.2)	(26)	(117.1)	(87.9)
Segment Reporting Information, Assets [Abstract]
Total assets		170.3		170.3		90.6
Rental [Member]
Revenue
Total revenue		123.4	125.5	392.6	373.6
Operating expenses
Cost of goods and services		38.2	38	119.5	110.5
Rental [Member] | Corporate, Non-Segment [Member]
Revenue
Total revenue		0	0	0	0
Operating expenses
Cost of goods and services		0	0	0	0
Hotel [Member]
Revenue
Total revenue		43.5	37.3	117.6	95.8
Operating expenses
Cost of goods and services		30.6	26.1	90.8	73.3
Hotel [Member] | Corporate, Non-Segment [Member]
Revenue
Total revenue		0	0	0	0
Operating expenses
Cost of goods and services		0	0	0	0
Sale of Real Estate [Member]
Revenue
Total revenue		6.5	89.8	48.7	103.4
Operating expenses
Cost of goods and services		5.8	63.4	45.6	73.7
Sale of Real Estate [Member] | Corporate, Non-Segment [Member]
Revenue
Total revenue		0	0	0	0
Operating expenses
Cost of goods and services		0	0	0	0
Investment Management, Property Services and Research Fees [Member]
Revenue
Total revenue		12.4	11.4	34.8	32.7
Investment Management, Property Services and Research Fees [Member] | Corporate, Non-Segment [Member]
Revenue
Total revenue		0	0	0	0
Loan Purchases, Loan Originations and Other [Member]
Revenue
Total revenue		0	8.5	1.1	15
Loan Purchases, Loan Originations and Other [Member] | Corporate, Non-Segment [Member]
Revenue
Total revenue		0	0	0	0
Commission and Marketing [Member]
Operating expenses
Cost of goods and services		1.1	2.1	4.6	5.9
Commission and Marketing [Member] | Corporate, Non-Segment [Member]
Operating expenses
Cost of goods and services		0	0	0	0
Compensation and Related [Member]
Operating expenses
Cost of goods and services		38.3	35.4	122.8	113.5
Compensation and Related [Member] | Corporate, Non-Segment [Member]
Operating expenses
Cost of goods and services		$ 14.1	13.6	$ 44.5	43.1
Investments [Member]
Segment Reporting Information [Line Items]
Average ownership interest in investments		62.00%		62.00%
Investments [Member] | Operating Segments [Member]
Revenue
Total revenue		$ 173.4	261.1	$ 560	587.8
Operating expenses
General and administrative		7	6.6	22.6	18.4
Depreciation and amortization		51.4	55.4	158.5	157.2
Total operating expenses		148.8	202.3	489.2	476
Income from unconsolidated investments		16.3	12.7	36.1	46.9
Operating income		40.9	71.5	106.9	158.7
Non-operating income (expense)
Gain on sale of real estate, net		39.4	5.3	304.2	77
Acquisition-related expenses		(0.4)	(1)	(0.6)	(2.3)
Interest expense		(36.6)	(37.9)	(123.4)	(107.8)
Other (expense) income		0.1	(2.9)	0.4	(2.4)
(Provision for) benefit from income taxes		(10.6)	(1.4)	(10.6)	(3.7)
Total non-operating income (loss)		(8.1)	(37.9)	170	(39.2)
Net income		32.8	33.6	276.9	119.5
Net income attributable to the noncontrolling interests		(0.8)	(18.7)	(59.9)	(31.3)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		32	14.9	217	88.2
Segment Reporting Information, Assets [Abstract]
Total assets		7,126.4		7,126.4		7,563.7
Investments [Member] | Rental [Member] | Operating Segments [Member]
Revenue
Total revenue		123.4	125.5	392.6	373.6
Operating expenses
Cost of goods and services		38.2	38	119.5	110.5
Investments [Member] | Hotel [Member] | Operating Segments [Member]
Revenue
Total revenue		43.5	37.3	117.6	95.8
Operating expenses
Cost of goods and services		30.6	26.1	90.8	73.3
Investments [Member] | Sale of Real Estate [Member] | Operating Segments [Member]
Revenue
Total revenue		6.5	89.8	48.7	103.4
Operating expenses
Cost of goods and services		5.8	63.4	45.6	73.7
Investments [Member] | Investment Management, Property Services and Research Fees [Member] | Operating Segments [Member]
Revenue
Total revenue		0	0	0	0
Investments [Member] | Loan Purchases, Loan Originations and Other [Member] | Operating Segments [Member]
Revenue
Total revenue		0	8.5	1.1	15
Investments [Member] | Commission and Marketing [Member] | Operating Segments [Member]
Operating expenses
Cost of goods and services		0	0	0	0
Investments [Member] | Compensation and Related [Member] | Operating Segments [Member]
Operating expenses
Cost of goods and services		$ 15.8	12.8	$ 52.2	42.9
IMRES [Member]
Segment Reporting Information [Line Items]
Number of main lines of businesses | line_of_business				5
Area of real estate property | ft²		51		51
Number of offices | office		26		26
IMRES [Member] | Operating Segments [Member]
Revenue
Total revenue		$ 12.4	11.4	$ 34.8	32.7
Operating expenses
General and administrative		3.2	3	9.3	8.8
Depreciation and amortization		0.1	0	0.2	0
Total operating expenses		12.8	14.1	40.2	42.2
Income from unconsolidated investments		7.7	4.9	24.8	10.5
Operating income		7.3	2.2	19.4	1
Non-operating income (expense)
Gain on sale of real estate, net		0	0	0	0
Acquisition-related expenses		0	0	0	0
Interest expense		0	0	0	0
Other (expense) income		0	0	0	0
(Provision for) benefit from income taxes		0	0	0	0
Total non-operating income (loss)		0	0	0	0
Net income		7.3	2.2	19.4	1
Net income attributable to the noncontrolling interests		0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		7.3	2.2	19.4	1
Segment Reporting Information, Assets [Abstract]
Total assets		84.7		84.7		$ 70.5
IMRES [Member] | Rental [Member] | Operating Segments [Member]
Revenue
Total revenue		0	0	0	0
Operating expenses
Cost of goods and services		0	0	0	0
IMRES [Member] | Hotel [Member] | Operating Segments [Member]
Revenue
Total revenue		0	0	0	0
Operating expenses
Cost of goods and services		0	0	0	0
IMRES [Member] | Sale of Real Estate [Member] | Operating Segments [Member]
Revenue
Total revenue		0	0	0	0
Operating expenses
Cost of goods and services		0	0	0	0
IMRES [Member] | Investment Management, Property Services and Research Fees [Member] | Operating Segments [Member]
Revenue
Total revenue		12.4	11.4	34.8	32.7
IMRES [Member] | Loan Purchases, Loan Originations and Other [Member] | Operating Segments [Member]
Revenue
Total revenue		0	0	0	0
IMRES [Member] | Commission and Marketing [Member] | Operating Segments [Member]
Operating expenses
Cost of goods and services		1.1	2.1	4.6	5.9
IMRES [Member] | Compensation and Related [Member] | Operating Segments [Member]
Operating expenses
Cost of goods and services		$ 8.4	$ 9	$ 26.1	$ 27.5
[1]	The assets and liabilities as of September 30, 2018 include $681.4 million (including cash held by consolidated investments of $28.4 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $589.0 million) and $353.9 million (including investment debt of $311.0 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2017 include $904.4 million (including cash held by consolidated investments of $39.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $789.1 million) and $510.0 million (including investment debt of $475.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Dec. 31, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income before income taxes		$ 19,800,000	$ 6,100,000	$ 212,900,000	$ 33,500,000
Income tax expense		6,900,000	$ (3,700,000)	$ 33,700,000	$ 900,000
Effective income tax rate				(15.80%)
Federal tax rate				21.00%
Transition tax liability for accumulated foreign earnings		$ 0		$ 0
Provisional income tax benefit	$ 44,800,000

Guarantor and Non-Guarantor F_3

Guarantor and Non-Guarantor Financial Statements - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions		Sep. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents		$ 419.4	$ 351.3
Accounts receivable		75.8	62.7
Loan purchases and originations		29.4	84.7
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,820.3	6,443.7
Unconsolidated investments		789.7	519.3
Investments in and advances to consolidated subsidiaries		0	0
Other assets		246.8	263.1
Total assets	[1]	7,381.4	7,724.8
Liabilities
Accounts payable		28.1	19.5
Accrued expenses and other liabilities		506.2	465.9
Total liabilities	[1]	5,939.6	6,147.3
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,253	1,365.6
Noncontrolling interests		188.8	211.9
Total equity		1,441.8	1,577.5
Total liabilities and equity		7,381.4	7,724.8
Mortgage Debt [Member]
Liabilities
Long-term debt		2,872.2	3,156.6
KW Unsecured Debt [Member]
Liabilities
Long-term debt		1,250.6	1,179.4
KWE Unsecured Bonds [Member]
Liabilities
Long-term debt		1,282.5	1,325.9
Reportable Legal Entities [Member] | Parent [Member]
Assets
Cash and cash equivalents		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		1,280.7	1,394.5
Other assets		0	0
Total assets		1,280.7	1,394.5
Liabilities
Accounts payable		0.3	0
Accrued expenses and other liabilities		27.4	28.9
Total liabilities		27.7	28.9
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,253	1,365.6
Noncontrolling interests		0	0
Total equity		1,253	1,365.6
Total liabilities and equity		1,280.7	1,394.5
Reportable Legal Entities [Member] | Parent [Member] | Mortgage Debt [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Parent [Member] | KW Unsecured Debt [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Parent [Member] | KWE Unsecured Bonds [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Assets
Cash and cash equivalents		36.5	33.4
Accounts receivable		0.2	0.9
Loan purchases and originations		0.9	0
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		0	0
Unconsolidated investments		19.6	20.2
Investments in and advances to consolidated subsidiaries		2,617.2	2,642.1
Other assets		0	0
Total assets		2,674.4	2,696.6
Liabilities
Accounts payable		0.6	0.8
Accrued expenses and other liabilities		142.5	121.9
Total liabilities		1,393.7	1,302.1
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,280.7	1,394.5
Noncontrolling interests		0	0
Total equity		1,280.7	1,394.5
Total liabilities and equity		2,674.4	2,696.6
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | Mortgage Debt [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | KW Unsecured Debt [Member]
Liabilities
Long-term debt		1,250.6	1,179.4
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | KWE Unsecured Bonds [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents		39.2	54.9
Accounts receivable		11	10.1
Loan purchases and originations		1.2	5.8
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		1,795.4	1,750
Unconsolidated investments		398.7	331.2
Investments in and advances to consolidated subsidiaries		1,579.7	1,629.4
Other assets		46.8	40.2
Total assets		3,872	3,821.6
Liabilities
Accounts payable		1.6	2.5
Accrued expenses and other liabilities		81.4	39.7
Total liabilities		1,254.8	1,179.5
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,617.2	2,642.1
Noncontrolling interests		0	0
Total equity		2,617.2	2,642.1
Total liabilities and equity		3,872	3,821.6
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Mortgage Debt [Member]
Liabilities
Long-term debt		1,171.8	1,137.3
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | KW Unsecured Debt [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | KWE Unsecured Bonds [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member]
Assets
Cash and cash equivalents		343.7	263
Accounts receivable		64.6	51.7
Loan purchases and originations		27.3	78.9
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		4,024.9	4,693.7
Unconsolidated investments		371.4	167.9
Investments in and advances to consolidated subsidiaries		0	0
Other assets		200	222.9
Total assets		5,031.9	5,478.1
Liabilities
Accounts payable		25.6	16.2
Accrued expenses and other liabilities		254.9	275.4
Total liabilities		3,263.4	3,636.8
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,579.7	1,629.4
Noncontrolling interests		188.8	211.9
Total equity		1,768.5	1,841.3
Total liabilities and equity		5,031.9	5,478.1
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | Mortgage Debt [Member]
Liabilities
Long-term debt		1,700.4	2,019.3
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | KW Unsecured Debt [Member]
Liabilities
Long-term debt		0	0
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | KWE Unsecured Bonds [Member]
Liabilities
Long-term debt		1,282.5	1,325.9
Elimination [Member]
Assets
Cash and cash equivalents		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		(5,477.6)	(5,666)
Other assets		0	0
Total assets		(5,477.6)	(5,666)
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		0	0
Total liabilities		0	0
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		(5,477.6)	(5,666)
Noncontrolling interests		0	0
Total equity		(5,477.6)	(5,666)
Total liabilities and equity		(5,477.6)	(5,666)
Elimination [Member] | Mortgage Debt [Member]
Liabilities
Long-term debt		0	0
Elimination [Member] | KW Unsecured Debt [Member]
Liabilities
Long-term debt		0	0
Elimination [Member] | KWE Unsecured Bonds [Member]
Liabilities
Long-term debt		$ 0	$ 0
[1]	The assets and liabilities as of September 30, 2018 include $681.4 million (including cash held by consolidated investments of $28.4 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $589.0 million) and $353.9 million (including investment debt of $311.0 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2017 include $904.4 million (including cash held by consolidated investments of $39.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $789.1 million) and $510.0 million (including investment debt of $475.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Guarantor and Non-Guarantor F_4

Guarantor and Non-Guarantor Financial Statements - Consolidating Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue
Total revenue	$ 185.8	$ 272.5	$ 594.8	$ 620.5
Operating expenses
General and administrative	11.7	10.8	36.6	30.7
Depreciation and amortization	51.5	55.4	158.7	157.2
Total operating expenses	177.2	231.2	578.6	564.8
Income from unconsolidated investments	24	17.6	60.9	57.4
Income from consolidated subsidiaries	0	0	0	0
Operating income	32.6	58.9	77.1	113.1
Non-operating income (expense)
Gain on sale of real estate	39.4	5.3	304.2	77
Acquisition-related expenses	(0.4)	(1)	(0.6)	(2.3)
Interest expense	(55.2)	(56.8)	(181.3)	(158.9)
Other income (loss)	3.4	(0.3)	13.5	4.6
Income before (provision for) benefit from income taxes	19.8	6.1	212.9	33.5
Benefit from (provision for) income taxes	(6.9)	3.7	(33.7)	(0.9)
Net income	12.9	9.8	179.2	32.6
Net income attributable to the noncontrolling interests	(0.8)	(18.7)	(59.9)	(31.3)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	12.1	(8.9)	119.3	1.3
Rental [Member]
Revenue
Total revenue	123.4	125.5	392.6	373.6
Operating expenses
Cost of goods and services	38.2	38	119.5	110.5
Hotel [Member]
Revenue
Total revenue	43.5	37.3	117.6	95.8
Operating expenses
Cost of goods and services	30.6	26.1	90.8	73.3
Sale of Real Estate [Member]
Revenue
Total revenue	6.5	89.8	48.7	103.4
Operating expenses
Cost of goods and services	5.8	63.4	45.6	73.7
Investment Management, Property Services and Research Fees [Member]
Revenue
Total revenue	12.4	11.4	34.8	32.7
Loan Purchases, Loan Originations and Other [Member]
Revenue
Total revenue	0	8.5	1.1	15
Commission and Marketing [Member]
Operating expenses
Cost of goods and services	1.1	2.1	4.6	5.9
Compensation and Related [Member]
Operating expenses
Cost of goods and services	38.3	35.4	122.8	113.5
Reportable Legal Entities [Member] | Parent [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
General and administrative	0	0	0	0
Depreciation and amortization	0	0	0	0
Total operating expenses	9.2	9.3	27.9	29.4
Income from unconsolidated investments	0	0	0	0
Income from consolidated subsidiaries	22.1	19.1	207.1	62
Operating income	12.9	9.8	179.2	32.6
Non-operating income (expense)
Gain on sale of real estate	0	0	0	0
Acquisition-related expenses	0	0	0	0
Interest expense	0	0	0	0
Other income (loss)	0	0	0	0
Income before (provision for) benefit from income taxes	12.9	9.8	179.2	32.6
Benefit from (provision for) income taxes	0	0	0	0
Net income	12.9	9.8	179.2	32.6
Net income attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	12.9	9.8	179.2	32.6
Reportable Legal Entities [Member] | Parent [Member] | Rental [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Reportable Legal Entities [Member] | Parent [Member] | Hotel [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Reportable Legal Entities [Member] | Parent [Member] | Sale of Real Estate [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Reportable Legal Entities [Member] | Parent [Member] | Investment Management, Property Services and Research Fees [Member]
Revenue
Total revenue	0	0	0	0
Reportable Legal Entities [Member] | Parent [Member] | Loan Purchases, Loan Originations and Other [Member]
Revenue
Total revenue	0	0	0	0
Reportable Legal Entities [Member] | Parent [Member] | Commission and Marketing [Member]
Operating expenses
Cost of goods and services	0	0	0	0
Reportable Legal Entities [Member] | Parent [Member] | Compensation and Related [Member]
Operating expenses
Cost of goods and services	9.2	9.3	27.9	29.4
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
General and administrative	4.3	3.8	13.6	10.3
Depreciation and amortization	0.3	0.4	1	1.1
Total operating expenses	18.5	16.8	62.5	51.8
Income from unconsolidated investments	(0.2)	0.6	(0.9)	2.2
Income from consolidated subsidiaries	61.9	46.4	338.5	154.1
Operating income	43.2	30.2	275.1	104.5
Non-operating income (expense)
Gain on sale of real estate	0	0	0	0
Acquisition-related expenses	0	0	0	(0.1)
Interest expense	(18.5)	(18.9)	(57.9)	(51.1)
Other income (loss)	2.9	2.7	12.9	5.9
Income before (provision for) benefit from income taxes	27.6	14	230.1	59.2
Benefit from (provision for) income taxes	(5.5)	5.1	(23)	2.8
Net income	22.1	19.1	207.1	62
Net income attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	22.1	19.1	207.1	62
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | Rental [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | Hotel [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | Sale of Real Estate [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | Investment Management, Property Services and Research Fees [Member]
Revenue
Total revenue	0	0	0	0
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | Loan Purchases, Loan Originations and Other [Member]
Revenue
Total revenue	0	0	0	0
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | Commission and Marketing [Member]
Operating expenses
Cost of goods and services	0	0	0	0
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member] | Compensation and Related [Member]
Operating expenses
Cost of goods and services	13.9	12.6	47.9	40.4
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Revenue
Total revenue	51	47.6	160.6	133.4
Operating expenses
General and administrative	5.2	4.3	15.9	12.1
Depreciation and amortization	13.4	13	42.6	36.6
Total operating expenses	51	46.6	153.4	134.7
Income from unconsolidated investments	14.6	12.1	38.2	26.3
Income from consolidated subsidiaries	58.3	42.8	271.9	109.1
Operating income	72.9	55.9	317.3	134.1
Non-operating income (expense)
Gain on sale of real estate	0	0	61.4	46.6
Acquisition-related expenses	(0.1)	(0.2)	(0.1)	(0.9)
Interest expense	(11.6)	(10.1)	(40.8)	(28)
Other income (loss)	0	(0.1)	0	0
Income before (provision for) benefit from income taxes	61.2	45.5	337.8	151.8
Benefit from (provision for) income taxes	0.7	0.9	0.7	2.3
Net income	61.9	46.4	338.5	154.1
Net income attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	61.9	46.4	338.5	154.1
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Rental [Member]
Revenue
Total revenue	39.4	36.1	128.5	104.4
Operating expenses
Cost of goods and services	17.5	13.8	47.3	40.6
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Hotel [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Sale of Real Estate [Member]
Revenue
Total revenue	0	2.3	0	2.3
Operating expenses
Cost of goods and services	0	1.8	0	1.8
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Investment Management, Property Services and Research Fees [Member]
Revenue
Total revenue	11.6	9.2	32	26.4
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Loan Purchases, Loan Originations and Other [Member]
Revenue
Total revenue	0	0	0.1	0.3
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Commission and Marketing [Member]
Operating expenses
Cost of goods and services	1.1	2	4.6	5.7
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Compensation and Related [Member]
Operating expenses
Cost of goods and services	13.8	11.7	43	37.9
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member]
Revenue
Total revenue	134.8	224.9	434.2	487.1
Operating expenses
General and administrative	2.2	2.7	7.1	8.3
Depreciation and amortization	37.8	42	115.1	119.5
Total operating expenses	98.5	158.5	334.8	348.9
Income from unconsolidated investments	9.6	4.9	23.6	28.9
Income from consolidated subsidiaries	0	0	0	0
Operating income	45.9	71.3	123	167.1
Non-operating income (expense)
Gain on sale of real estate	39.4	5.3	242.8	30.4
Acquisition-related expenses	(0.3)	(0.8)	(0.5)	(1.3)
Interest expense	(25.1)	(27.8)	(82.6)	(79.8)
Other income (loss)	0.5	(2.9)	0.6	(1.3)
Income before (provision for) benefit from income taxes	60.4	45.1	283.3	115.1
Benefit from (provision for) income taxes	(2.1)	(2.3)	(11.4)	(6)
Net income	58.3	42.8	271.9	109.1
Net income attributable to the noncontrolling interests	(0.8)	(18.7)	(59.9)	(31.3)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	57.5	24.1	212	77.8
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | Rental [Member]
Revenue
Total revenue	84	89.4	264.1	269.2
Operating expenses
Cost of goods and services	20.7	24.2	72.2	69.9
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | Hotel [Member]
Revenue
Total revenue	43.5	37.3	117.6	95.8
Operating expenses
Cost of goods and services	30.6	26.1	90.8	73.3
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | Sale of Real Estate [Member]
Revenue
Total revenue	6.5	87.5	48.7	101.1
Operating expenses
Cost of goods and services	5.8	61.6	45.6	71.9
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | Investment Management, Property Services and Research Fees [Member]
Revenue
Total revenue	0.8	2.2	2.8	6.3
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | Loan Purchases, Loan Originations and Other [Member]
Revenue
Total revenue	0	8.5	1	14.7
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | Commission and Marketing [Member]
Operating expenses
Cost of goods and services	0	0.1	0	0.2
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member] | Compensation and Related [Member]
Operating expenses
Cost of goods and services	1.4	1.8	4	5.8
Elimination [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
General and administrative	0	0	0	0
Depreciation and amortization	0	0	0	0
Total operating expenses	0	0	0	0
Income from unconsolidated investments	0	0	0	0
Income from consolidated subsidiaries	(142.3)	(108.3)	(817.5)	(325.2)
Operating income	(142.3)	(108.3)	(817.5)	(325.2)
Non-operating income (expense)
Gain on sale of real estate	0	0	0	0
Acquisition-related expenses	0	0	0	0
Interest expense	0	0	0	0
Other income (loss)	0	0	0	0
Income before (provision for) benefit from income taxes	(142.3)	(108.3)	(817.5)	(325.2)
Benefit from (provision for) income taxes	0	0	0	0
Net income	(142.3)	(108.3)	(817.5)	(325.2)
Net income attributable to the noncontrolling interests	0	0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	(142.3)	(108.3)	(817.5)	(325.2)
Elimination [Member] | Rental [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Elimination [Member] | Hotel [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Elimination [Member] | Sale of Real Estate [Member]
Revenue
Total revenue	0	0	0	0
Operating expenses
Cost of goods and services	0	0	0	0
Elimination [Member] | Investment Management, Property Services and Research Fees [Member]
Revenue
Total revenue	0	0	0	0
Elimination [Member] | Loan Purchases, Loan Originations and Other [Member]
Revenue
Total revenue	0	0	0	0
Elimination [Member] | Commission and Marketing [Member]
Operating expenses
Cost of goods and services	0	0	0	0
Elimination [Member] | Compensation and Related [Member]
Operating expenses
Cost of goods and services	$ 0	$ 0	$ 0	$ 0

Guarantor and Non-Guarantor F_5

Guarantor and Non-Guarantor Financial Statements - Consolidated Statement of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Net income	$ 12.9	$ 9.8	$ 179.2	$ 32.6
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on marketable securities	0	0.1	0	0.2
Unrealized foreign currency translation gain	(7.5)	50.5	(46.4)	171.3
Amounts reclassified out of AOCI during the period	0.1	0.1	13.2	0.1
Unrealized currency derivative contracts (loss) gain	(0.2)	(11.5)	22	(44.3)
Total other comprehensive (loss) income for the period	(7.6)	39.2	(11.2)	127.3
Comprehensive income	5.3	49	168	159.9
Comprehensive income attributable to noncontrolling interests	0.1	(52.9)	(65)	(138.8)
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	5.4	(3.9)	103	21.1
Reportable Legal Entities [Member] | Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	12.9	9.8	179.2	32.6
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on marketable securities		0.1		0.2
Unrealized foreign currency translation gain	(7.5)	50.5	(46.4)	171.3
Amounts reclassified out of AOCI during the period	0.1	0.1	13.2	0.1
Unrealized currency derivative contracts (loss) gain	(0.2)	(11.5)	22	(44.3)
Total other comprehensive (loss) income for the period	(7.6)	39.2	(11.2)	127.3
Comprehensive income	5.3	49	168	159.9
Comprehensive income attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	5.3	49	168	159.9
Reportable Legal Entities [Member] | Kennedy-Wilson, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	22.1	19.1	207.1	62
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on marketable securities		0.1		0.2
Unrealized foreign currency translation gain	(7.5)	50.5	(46.4)	171.3
Amounts reclassified out of AOCI during the period	0.1	0.1	13.2	0.1
Unrealized currency derivative contracts (loss) gain	(0.2)	(11.5)	22	(44.3)
Total other comprehensive (loss) income for the period	(7.6)	39.2	(11.2)	127.3
Comprehensive income	14.5	58.3	195.9	189.3
Comprehensive income attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	14.5	58.3	195.9	189.3
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	61.9	46.4	338.5	154.1
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on marketable securities		0		0
Unrealized foreign currency translation gain	(7.1)	6	(23.4)	24.4
Amounts reclassified out of AOCI during the period	0	0	0	0
Unrealized currency derivative contracts (loss) gain	7.2	(5.7)	23.5	(15.5)
Total other comprehensive (loss) income for the period	0.1	0.3	0.1	8.9
Comprehensive income	62	46.7	338.6	163
Comprehensive income attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	62	46.7	338.6	163
Reportable Legal Entities [Member] | Non-guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	58.3	42.8	271.9	109.1
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on marketable securities		0		0
Unrealized foreign currency translation gain	(7.6)	50.3	(45)	162.6
Amounts reclassified out of AOCI during the period	0	0.1	18.3	0.1
Unrealized currency derivative contracts (loss) gain	(7.4)	(5.8)	(1.5)	(28.8)
Total other comprehensive (loss) income for the period	(15)	44.6	(28.2)	133.9
Comprehensive income	43.3	87.4	243.7	243
Comprehensive income attributable to noncontrolling interests	0.1	(52.9)	(65)	(138.8)
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	43.4	34.5	178.7	104.2
Elimination [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	(142.3)	(108.3)	(817.5)	(325.2)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on marketable securities		(0.1)		(0.2)
Unrealized foreign currency translation gain	22.2	(106.8)	114.8	(358.3)
Amounts reclassified out of AOCI during the period	(0.1)	(0.2)	(31.5)	(0.2)
Unrealized currency derivative contracts (loss) gain	0.4	23	(44)	88.6
Total other comprehensive (loss) income for the period	22.5	(84.1)	39.3	(270.1)
Comprehensive income	(119.8)	(192.4)	(778.2)	(595.3)
Comprehensive income attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (119.8)	$ (192.4)	$ (778.2)	$ (595.3)

Guarantor and Non-Guarantor F_6

Guarantor and Non-Guarantor Financial Statements - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2018	Sep. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities		$ 91.8	$ 129.6
Cash flows from investing activities:
Additions to loans		(1.9)	0
Collections of loans		4.5	16.9
Net proceeds from sale of consolidated real estate		1,164.9	261.9
Purchases of and additions to real estate		(440.9)	(475)
Additions to nonrefundable escrow deposits			0
Proceeds from settlement of foreign derivative contracts		7.8	3.1
Purchases of foreign derivative contracts		(0.8)	(0.6)
Investment in marketable securities		0	(0.6)
Proceeds from sale of marketable securities		7.4	0.6
Distributions from unconsolidated investments		48	89.4
Contributions to unconsolidated investments		(293.1)	(62.3)
Additions to development project asset		(22.2)	(13)
Proceeds from development project asset		38.9	36.9
Distributions from (investments in) consolidated subsidiaries, net		0	0
Net cash provided by (used in) investing activities		512.6	(142.7)
Cash flows from financing activities:
Borrowings under senior notes payable		246.6	0
Borrowings under line of credit		225	400
Repayment of lines of credit		(325)	(50)
Borrowings under investment debt		478.7	258.3
Repayment of investment debt		(719.8)	(142.6)
Repayment of term loan		(75)	0
Debt issue costs		(7.7)	(1.4)
Costs associated with KWE transaction		0	(10)
Repurchase and retirement of common stock		(160.1)	(35.6)
Dividends paid		(84.2)	(57.1)
KWE closing dividend		(17.2)	0
Acquisition of KWE shares from noncontrolling interest holders		0	(3.3)
Contributions from noncontrolling interests, excluding KWE		22.8	43.6
Distributions to noncontrolling interests		(104.9)	(93.3)
Net cash (used in) provided by financing activities		(520.8)	308.6
Effect of currency exchange rate changes on cash and cash equivalents		(15.5)	51.5
Net change in cash and cash equivalents	[1]	68.1	347
Cash and cash equivalents, beginning of period		351.3	885.7
Cash and cash equivalents, end of period		419.4	1,232.7
Parent [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities		(0.4)	2
Cash flows from investing activities:
Additions to loans		0	0
Collections of loans		0	0
Net proceeds from sale of consolidated 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
Proceeds from sale of marketable securities		0	0
Distributions from unconsolidated investments		0	0
Contributions to unconsolidated investments		0	0
Additions to development project asset		0	0
Proceeds from development project asset		0	0
Distributions from (investments in) consolidated subsidiaries, net		244.7	100.7
Net cash provided by (used in) investing activities		244.7	100.7
Cash flows from financing activities:
Borrowings under senior notes payable		0
Borrowings under line of credit		0	0
Repayment of lines of credit		0	0
Borrowings under investment debt		0	0
Repayment of investment debt		0	0
Repayment of term loan		0
Debt issue costs		0	0
Costs associated with KWE transaction			(10)
Repurchase and retirement of common stock		(160.1)	(35.6)
Dividends paid		(84.2)	(57.1)
KWE closing dividend		0
Acquisition of KWE shares from noncontrolling interest holders			0
Contributions from noncontrolling interests, excluding KWE		0	0
Distributions to noncontrolling interests		0	0
Net cash (used in) provided by financing activities		(244.3)	(102.7)
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 (used in) provided by operating activities		(119.5)	(205.6)
Cash flows from investing activities:
Additions to loans		0	0
Collections of loans		0	0
Net proceeds from sale of consolidated 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		7.8	3.1
Purchases of foreign derivative contracts		(0.8)	(0.6)
Investment in marketable securities		0	0
Proceeds from sale of marketable securities		0	0
Distributions from unconsolidated investments		0	0
Contributions to unconsolidated investments		(0.9)	0
Additions to development project asset		0	0
Proceeds from development project asset		0	0
Distributions from (investments in) consolidated subsidiaries, net		49.4	188.9
Net cash provided by (used in) investing activities		55.5	191.4
Cash flows from financing activities:
Borrowings under senior notes payable		246.6
Borrowings under line of credit		225	400
Repayment of lines of credit		(325)	(50)
Borrowings under investment debt		0	0
Repayment of investment debt		0	0
Repayment of term loan		(75)
Debt issue costs		(4.5)	(0.1)
Costs associated with KWE transaction			0
Repurchase and retirement of common stock		0	0
Dividends paid		0	0
KWE closing dividend		0
Acquisition of KWE shares from noncontrolling interest holders			0
Contributions from noncontrolling interests, excluding KWE		0	0
Distributions to noncontrolling interests		0	0
Net cash (used in) provided by financing activities		67.1	349.9
Effect of currency exchange rate changes on cash and cash equivalents		0	0
Net change in cash and cash equivalents		3.1	335.7
Cash and cash equivalents, beginning of period		33.4	106
Cash and cash equivalents, end of period		36.5	441.7
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities		68	47.4
Cash flows from investing activities:
Additions to loans		(0.9)	0
Collections of loans		4.5	6.4
Net proceeds from sale of consolidated real estate		161.4	110.6
Purchases of and additions to real estate		(184.3)	(224.8)
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	(0.6)
Proceeds from sale of marketable securities		7.4	0.6
Distributions from unconsolidated investments		21	70.5
Contributions to unconsolidated investments		(57.7)	(40.6)
Additions to development project asset		0	0
Proceeds from development project asset		0	0
Distributions from (investments in) consolidated subsidiaries, net		(68.5)	(39.1)
Net cash provided by (used in) investing activities		(117.1)	(117)
Cash flows from financing activities:
Borrowings under senior notes payable		0
Borrowings under line of credit		0	0
Repayment of lines of credit		0	0
Borrowings under investment debt		311.6	106
Repayment of investment debt		(276.4)	(35.8)
Repayment of term loan		0
Debt issue costs		(1.7)	(0.5)
Costs associated with KWE transaction			0
Repurchase and retirement of common stock		0	0
Dividends paid		0	0
KWE closing dividend		0
Acquisition of KWE shares from noncontrolling interest holders			0
Contributions from noncontrolling interests, excluding KWE		0	0
Distributions to noncontrolling interests		0	0
Net cash (used in) provided by financing activities		33.5	69.7
Effect of currency exchange rate changes on cash and cash equivalents		0	0
Net change in cash and cash equivalents		(15.6)	0.1
Cash and cash equivalents, beginning of period		54.8	45.4
Cash and cash equivalents, end of period		39.2	45.5
Non-guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities		143.7	285.8
Cash flows from investing activities:
Additions to loans		(1)	0
Collections of loans		0	10.5
Net proceeds from sale of consolidated real estate		1,003.5	151.3
Purchases of and additions to real estate		(256.6)	(250.2)
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
Proceeds from sale of marketable securities		0	0
Distributions from unconsolidated investments		27	18.9
Contributions to unconsolidated investments		(234.5)	(21.7)
Additions to development project asset		(22.2)	(13)
Proceeds from development project asset		38.9	36.9
Distributions from (investments in) consolidated subsidiaries, net		(225.6)	(250.5)
Net cash provided by (used in) investing activities		329.5	(317.8)
Cash flows from financing activities:
Borrowings under senior notes payable		0
Borrowings under line of credit		0	0
Repayment of lines of credit		0	0
Borrowings under investment debt		167.1	152.3
Repayment of investment debt		(443.4)	(106.8)
Repayment of term loan		0
Debt issue costs		(1.5)	(0.8)
Costs associated with KWE transaction			0
Repurchase and retirement of common stock		0	0
Dividends paid		0	0
KWE closing dividend		(17.2)
Acquisition of KWE shares from noncontrolling interest holders			(3.3)
Contributions from noncontrolling interests, excluding KWE		22.8	43.6
Distributions to noncontrolling interests		(104.9)	(93.3)
Net cash (used in) provided by financing activities		(377.1)	(8.3)
Effect of currency exchange rate changes on cash and cash equivalents		(15.5)	51.5
Net change in cash and cash equivalents		80.6	11.2
Cash and cash equivalents, beginning of period		263.1	734.3
Cash and cash equivalents, end of period		$ 343.7	$ 745.5
[1]	See discussion of non-cash effects in notes to consolidated statements of cash flows.

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Oct. 25, 2018USD ($)property_unit	Sep. 30, 2018USD ($)property_unit	Sep. 30, 2017USD ($)
Subsequent Event [Line Items]
Payments to acquire real estate		$ 440.9	$ 475
Axa Joint Venture [Member] | Multifamily [Member]
Subsequent Event [Line Items]
Number of units | property_unit		1,173
Subsequent Event [Member] | Mortgage Debt [Member]
Subsequent Event [Line Items]
Debt face value	$ 89.4
Subsequent Event [Member] | Axa Joint Venture [Member]
Subsequent Event [Line Items]
Payments to acquire real estate	46.9
Subsequent Event [Member] | Kennedy Wilson Holdings, Inc. and AXS Investment Managers [Member] | Axa Joint Venture [Member]
Subsequent Event [Line Items]
Payments to acquire real estate	$ 183.1
Subsequent Event [Member] | Kennedy Wilson Holdings, Inc. and AXS Investment Managers [Member] | Axa Joint Venture [Member] | Multifamily [Member]
Subsequent Event [Line Items]
Number of units | property_unit	274