Kennedy-Wilson (KW) 10-K 26 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 24, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-33824
Entity Registrant Name	Kennedy-Wilson Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0508760
Entity Address, Address Line One	151 S El Camino Drive
Entity Address, City or Town	Beverly Hills,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90212
City Area Code	310
Local Phone Number	887-6400
Title of 12(b) Security	Common Stock, $.0001 par value
Trading Symbol	KW
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 1,720,009,993
Entity Common Stock, Shares Outstanding		141,084,387
Documents Incorporated by Reference	Part III of this report incorporates certain information by reference from the registrant’s definitive proxy statement for the annual meeting of stockholders to be held on or around June 10, 2021, which proxy statement will be filed no later than 120 days after the close of the registrant’s fiscal year ended December 31, 2020.
Entity Central Index Key	0001408100
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents		$ 965.1	$ 573.9
Accounts receivable (including $12.6 and $11.2 of related party)		47.9	52.1
Real estate and acquired in place lease values (net of accumulated depreciation and amortization of $815.0 and $703.2)		4,720.5	5,080.2
Unconsolidated investments (including $1,136.5 and $1,099.3 at fair value)		1,289.3	1,326.5
Other assets		306.2	271.8
Total assets	[1]	7,329	7,304.5
Liabilities
Accounts payable		30.1	20.4
Accrued expenses and other liabilities		531.7	518
Total liabilities	[1]	5,656.3	5,585.3
Equity
Series A cumulative preferred stock, $0.0001 par value, $1,000 per share liquidation preference, 1,000,000 shares authorized, 300,000 shares outstanding as of December 31, 2020 and December 31, 2019		295.2	295.2
Common Stock, $0.0001 par value, 200,000,000 authorized, 141,365,323 and 142,283,109 shares issued outstanding as of December 31, 2020 and December 31, 2019		0	0
Additional paid-in capital		1,725.2	1,754.5
Retained earnings		17.7	46.2
Accumulated other comprehensive loss		(393.6)	(417.2)
Total Kennedy-Wilson Holdings, Inc. shareholders’ equity		1,644.5	1,678.7
Noncontrolling interests		28.2	40.5
Total equity		1,672.7	1,719.2
Total liabilities and equity		7,329	7,304.5
Mortgage debt
Liabilities
Debt		2,589.8	2,641
KW unsecured debt
Liabilities
Debt		1,332.2	1,131.7
KWE unsecured bonds
Liabilities
Debt		$ 1,172.5	$ 1,274.2
[1]	The assets and liabilities as of December 31, 2020 include $166.0 million (including cash held by consolidated investments of $9.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $150.0 million) and $107.7 million (including investment debt of $97.5 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2019 include $267.5 million (including cash held by consolidated investments of $10.3 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $243.5 million) and $219.7 million (including investment debt of $206.0 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
Assets
Accounts receivable (including $12.6 and $11.2 of related party)		$ 12.6	$ 11.2
Real estate and acquired in place lease values (net of accumulated depreciation and amortization of $815.0 and $703.2)		815	703.2
Unconsolidated investments (including $1,136.5 and $1,099.3 at fair value)		1,136.5	1,099.3
Assets	[1]	7,329	7,304.5
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		4,720.5	5,080.2
Liabilities
Liabilities	[1]	$ 5,656.3	$ 5,585.3
Stockholders' Equity Attributable to Parent [Abstract]
Cumulative preferred stock, par value (in dollars per shares)		$ 0.0001	$ 0.0001
Cumulative preferred stock, liquidation preference (in dollars per share)		$ 1,000	$ 1,000
Cumulative preferred stock, shares authorized (in shares)		1,000,000	1,000,000
Cumulative preferred stock, shares outstanding (in shares)		300,000	300,000
Common stock par value (in dollars per share)		$ 0.0001	$ 0.0001
Common stock authorized (in shares)		200,000,000	200,000,000
Common stock issued (in shares)		141,365,323	142,283,109
Common stock outstanding (in shares)		141,365,323	142,283,109
Variable Interest Entity, Primary Beneficiary
Assets
Assets		$ 166	$ 267.5
Cash held by consolidated investments		9.1	10.3
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		150	243.5
Liabilities
Liabilities		107.7	219.7
Variable Interest Entity, Primary Beneficiary | Investment Debt
Liabilities
Debt		$ 97.5	$ 206
[1]	The assets and liabilities as of December 31, 2020 include $166.0 million (including cash held by consolidated investments of $9.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $150.0 million) and $107.7 million (including investment debt of $97.5 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2019 include $267.5 million (including cash held by consolidated investments of $10.3 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $243.5 million) and $219.7 million (including investment debt of $206.0 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue
Total revenue	$ 106.5	$ 114.2	$ 106.9	$ 123.3	$ 142.3	$ 143	$ 143.7	$ 140.7	$ 450.9	$ 569.7	$ 772.4
Expenses
General and administrative									34.6	42.4	50.8
Depreciation and amortization									179.6	187.6	206.1
Total expenses	149	116.3	115.8	129.8	155	147.9	143.8	153.1	510.9	599.8	766.4
Income from unconsolidated investments, net of depreciation and amortization									81	179.7	78.7
Gain on sale of real estate, net									338	434.4	371.8
Gain on sale of business									0	0	40.4
Transaction-related expenses									(0.9)	(6.8)	(1.7)
Interest expense									(211.2)	(215.1)	(238.2)
Other income									4.5	0.4	13.1
Income before provision for income taxes	226.4	(32.5)	(42.3)	(0.2)	165.2	29.6	162.1	5.6	151.4	362.5	270.1
Provision for income taxes	(53.9)	12.8	3.2	(5.7)	(6.3)	(10.2)	(20.9)	(4)	(43.6)	(41.4)	(58)
Net income	172.5	(19.7)	(39.1)	(5.9)	158.9	19.4	141.2	1.6	107.8	321.1	212.1
Net loss (income) attributable to the noncontrolling interests	1.8	(1.1)	1.3	0.3	1.6	1.3	(90.4)	(6.9)	2.3	(94.4)	(62.1)
Preferred dividends and accretion of preferred stock issuance costs	(4.3)	(4.3)	(4.3)	(4.3)	(2.6)	0	0	0	(17.2)	(2.6)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 170	$ (25.1)	$ (42.1)	$ (9.9)	$ 157.9	$ 20.7	$ 50.8	$ (5.3)	$ 92.9	$ 224.1	$ 150
Basic Earnings per share
Income per basic (in dollars per share)	$ 1.23	$ (0.18)	$ (0.30)	$ (0.07)	$ 1.13	$ 0.15	$ 0.36	$ (0.04)	$ 0.66	$ 1.60	$ 1.04
Weighted average shares outstanding for basic (in shares)									139,741,411	139,729,573	142,895,472
Diluted Earnings per share
Income per diluted (in dollars per share)	$ 1.21	$ (0.18)	$ (0.30)	$ (0.07)	$ 1.12	$ 0.15	$ 0.36	$ (0.04)	$ 0.66	$ 1.58	$ 1.04
Weighted average shares outstanding for diluted (in shares)									140,347,365	141,501,323	144,753,421
Dividends declared per common share (in dollars per share)									$ 0.88	$ 0.85	$ 0.78
Rental
Revenue
Total revenue									$ 403.9	$ 447.4	$ 514.6
Expenses
Cost of goods sold									135.7	152.9	160.8
Hotel
Revenue
Total revenue									13.9	80.5	155.7
Expenses
Cost of goods sold									13.8	60.1	121.5
Sale of real estate
Revenue
Total revenue									0	1.1	56.8
Expenses
Cost of goods sold									0	1.2	52.5
Investment management, property services and research fees
Revenue
Total revenue									33.1	40.7	45.3
Commission and marketing
Expenses
Cost of goods sold									2.8	3.8	5.9
Compensation and related
Expenses
Cost of goods sold									$ 144.4	$ 151.8	$ 168.8

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Investment management, property services, and research fees— related party	$ 22.7	$ 26.1	$ 15.3
Share-based compensation	$ 32.3	$ 30.2	$ 37.1

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income	$ 172.5	$ (19.7)	$ (39.1)	$ (5.9)	$ 158.9	$ 19.4	$ 141.2	$ 1.6	$ 107.8	$ 321.1	$ 212.1
Other comprehensive income, net of tax:
Unrealized foreign currency translation gain (loss)									66.5	(13.3)	(62.6)
Amounts reclassified out of AOCI during the year									0.8	10.4	13.2
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps											38.3
Total other comprehensive income (loss) for the year									24.2	35.1	(11.1)
Comprehensive income									132	356.2	201
Comprehensive income (loss) attributable to noncontrolling interests									1.7	(105)	(65.4)
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.									133.7	251.2	135.6
Foreign Exchange Contract
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									(37.8)	38.7	38.3
Interest Rate Swap
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									$ (5.3)	$ (0.7)	$ 0

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Foreign Exchange Contract	Interest Rate Swap	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossForeign Exchange Contract	Accumulated Other Comprehensive LossInterest Rate Swap	Noncontrolling Interests
Beginning balance outstanding (in shares) at Dec. 31, 2017				0	151,561,284
Balance at beginning of period at Dec. 31, 2017	$ 1,577.5			$ 0	$ 0	$ 1,883.3	$ (90.6)	$ (427.1)			$ 211.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares forfeited (in shares)					(30,100)
Restricted stock grants (RSG) (in shares)					1,524,383
Shares retired due to RSG vesting (in shares)					(486,032)
Shares retired due to RSG Vesting	(8.8)					(8.8)
Shares retired due to common stock repurchase program (in shares)					(9,364,141)
Shares retired due to common stock repurchase program	(169.1)					(167)	(2.1)
Stock based compensation	37.1					37.1
Other comprehensive (loss) income:
Unrealized foreign currency translation loss, net of tax	(44.2)							(47.5)			3.3
Unrealized currency derivative contracts gain (loss)		$ 33.2	$ (0.1)						$ 33.2	$ (0.1)
Common stock dividends	(113.7)						(113.7)
Net income	212.1						150				62.1
Contributions from noncontrolling interests	23.2										23.2
Distributions to noncontrolling interests	(116)										(116)
Ending balance outstanding (in shares) at Dec. 31, 2018				0	143,205,394
Balance at end of period at Dec. 31, 2018	1,431.2			$ 0	$ 0	1,744.6	(56.4)	(441.5)			184.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative preferred stock (in shares)				300,000
Cumulative preferred stock	295.2			$ 295.2
Restricted stock grants (RSG) (in shares)					64,458
Shares retired due to RSG vesting (in shares)					(764,909)
Shares retired due to RSG Vesting	(16.4)					(16.4)
Shares retired due to common stock repurchase program (in shares)					(221,834)
Shares retired due to common stock repurchase program					$ (4.3)	(3.9)	(0.4)
Stock based compensation	30.2					30.2
Other comprehensive (loss) income:
Unrealized foreign currency translation loss, net of tax	6.3							(4.3)			10.6
Unrealized currency derivative contracts gain (loss)		29.3	(0.7)						29.3	(0.7)
Common stock dividends	(121.1)						(121.1)
Preferred stock dividends	(2.6)						(2.6)
Net income	321.1						226.7				94.4
Contributions from noncontrolling interests	15										15
Distributions to noncontrolling interests	(264)										(264)
Ending balance outstanding (in shares) at Dec. 31, 2019				300,000	142,283,109
Balance at end of period at Dec. 31, 2019	1,719.2			$ 295.2	$ 0	1,754.5	46.2	(417.2)			40.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares forfeited (in shares)					(62,710)
Restricted stock grants (RSG) (in shares)					2,543,551
Shares retired due to RSG vesting (in shares)					(571,983)
Shares retired due to RSG Vesting	(11.6)					(11.6)
Shares retired due to common stock repurchase program (in shares)					(2,826,644)
Shares retired due to common stock repurchase program	(45.8)					(50)	4.2
Stock based compensation					$ 32.3	32.3
Other comprehensive (loss) income:
Unrealized foreign currency translation loss, net of tax	66.7							66.1			0.6
Unrealized currency derivative contracts gain (loss)		$ (37.8)	$ (4.7)						$ (37.8)	$ (4.7)
Common stock dividends	(125.6)						(125.6)
Preferred stock dividends	(17.2)						(17.2)
Net income	107.8						110.1				(2.3)
Contributions from noncontrolling interests	4.5										4.5
Distributions to noncontrolling interests	(18.9)										(18.9)
KW Europe II deconsolidation	3.8										3.8
Ending balance outstanding (in shares) at Dec. 31, 2020				300,000	141,365,323
Balance at end of period at Dec. 31, 2020	$ 1,672.7			$ 295.2	$ 0	$ 1,725.2	$ 17.7	$ (393.6)			$ 28.2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income		$ 107.8	$ 321.1	$ 212.1
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Gain from sale of real estate, net		(338)	(434.3)	(376.1)
Gain on sale of a business		0	0	(40.4)
Depreciation and amortization		179.6	187.6	206.1
Above/below and straight-line rent amortization		(10.2)	(4.6)	(14.6)
Provision for deferred income taxes		27.2	26.7	39.3
Amortization of loan fees		0.8	9.3	13.5
Amortization of discount and accretion of premium on senior notes payable		8.5	1.6	1.7
Unrealized net gains on derivatives		(5.4)	(5.9)	(11.7)
Income from unconsolidated investments		(81)	(179.7)	(78.7)
Accretion of interest income on loans		(0.9)	(0.1)	(0.6)
Stock compensation expense		32.3	30.2	37.1
Deferred compensation		6.4	3.8	0
Operating distributions from unconsolidated investments		59.7	74.1	61.4
Operating distributions from loans		0.7	0	0.6
Change in assets and liabilities:
Accounts receivable		4.5	1	1.9
Other assets		0	(25.8)	(0.6)
Accrued expenses and other liabilities		(4.6)	(24.5)	42.1
Net cash (used in) provided by operating activities		(12.6)	(19.5)	93.1
Cash flows from investing activities:
Issuance of loans		(88.6)	(2.7)	(2.2)
Proceeds from collection of loans		34.1	0.6	5.8
Net proceeds from sale of consolidated real estate		827.8	701	1,386.1
Net proceeds from sale of a business			0	43.4
Purchases of consolidated real estate		(70.1)	(210.9)	(355.8)
Capital expenditures to real estate		(194.1)	(191.1)	(216)
Nonrefundable escrow deposits		0	0	(5)
Investment in marketable securities		(12.1)	0	(0.2)
Proceeds from sale of marketable securities		10.2	0	7.4
Investing distributions from unconsolidated investments		177.5	115	63.7
Contributions to unconsolidated investments		(111.6)	(266)	(396.1)
Proceeds from settlement of foreign currency derivative contracts		15.5	33.4	10.7
Purchases of foreign currency derivative contracts		0	0	(0.6)
Additions to development project asset		0	(1.2)	(29.1)
Proceeds from sale of development project asset		2.2	4.2	81
Net cash provided by investing activities		590.8	182.3	593.1
Cash flow from financing activities:
Borrowings under senior notes payable		0	0	246.6
Borrowings under line of credit/term loan		200	125	225
Repayment of line of credit/term loan		0	(200)	(450)
Borrowings under mortgage debt		296.4	488.6	725
Repayment of mortgage debt		(487.1)	(391.4)	(866.8)
Payment of loan fees		(5.6)	(4.8)	(9.5)
Repurchase of common stock		(57.4)	(20.7)	(177.9)
Issuance of preferred stock		0	295.2	0
Common stock dividends paid		(126.1)	(114.9)	(111.2)
Preferred stock dividends paid		(13.6)	(2.6)	0
KWE closing dividend		0	0	(17.2)
Borrowings (repayment) of shareholder loans to noncontrolling interests		1.2	(11.2)	0
Contributions from noncontrolling interests		4.5	15	23.2
Distributions to noncontrolling interests		(18.9)	(264)	(116)
Net cash used in financing activities		(206.6)	(85.8)	(528.8)
Effect of currency exchange rate changes on cash and cash equivalents		19.6	8.9	(20.7)
Net change in cash and cash equivalents		391.2	85.9	136.7
Cash and cash equivalents, beginning of year		573.9	488	351.3
Cash and cash equivalents, end of year		965.1	573.9	488
Cash paid for:
Interest	[1],[2]	209.7	211.1	225.3
Income taxes		$ 12.6	$ 20.6	$ 6.6
[1]	$4.3 million, $3.5 million, and $6.9 million attributable to non-controlling interests for the years ended December 31, 2020, 2019, and 2018.
[2]	Excludes $3.4 million, $3.8 million, and $3.9 million of capitalized interest during the for the years ended December 31, 2020, 2019 and 2018.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019USD ($)property_unitasset	Dec. 31, 2020USD ($)parcel	Dec. 31, 2019USD ($)property_unitasset	Dec. 31, 2018USD ($)hotel
Interest paid attributable to noncontrolling interest		$ 4.3	$ 3.5	$ 6.9
Interest paid, capitalized		3.4	3.8	3.9
Restricted cash	$ 54.5	101.7	54.5	$ 88
Non-cash contribution to acquire interest in joint venture		$ 7.8	125.5
Number of parcels of land | parcel		3
Land received in sale of equity method investment		$ 16.5
Operating lease, right-of-use asset	$ 13.6	11.2	13.6
Total lease liabilities		$ 11.2
Ownership percentage sold of equity method investment	20.00%
Number of hotels securing loans | hotel				6
Axa Joint Venture | Multifamily
Non-cash contribution to acquire interest in joint venture			$ 92.2
Ownership percentage sold of equity method investment			20.00%
Proceeds from divestiture of interest in joint venture			$ 23
Equity method investment, ownership percentage	80.00%		80.00%
Axa Joint Venture | Multifamily | Ireland
Ownership percentage sold of equity method investment			20.00%
Number of assets sold | asset	3		3
Number of units sold | property_unit	468		468

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATIONKennedy-Wilson Holdings, Inc. (“KWH,” NYSE: KW), a Delaware corporation and its wholly owned and consolidated subsidiaries (collectively the "Company" or "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.  The Company focuses on multifamily and office properties in the Western United States, United Kingdom and Ireland.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION — The consolidated financial statements include the accounts of Kennedy Wilson and voting interest entities which it controls. All intercompany balances and transactions have been eliminated in consolidation. In addition, Kennedy Wilson evaluates its relationships with other entities to identify whether they are variable interest entities ("VIE") as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Subtopic 810 , Consolidation and to assess whether it is the primary beneficiary of such entities. In determining whether Kennedy Wilson is the primary beneficiary of a VIE, qualitative and quantitative factors are considered, including, but not limited to: the amount and characteristics of Kennedy Wilson's investment; the obligation or likelihood for Kennedy Wilson to provide financial support; Kennedy Wilson's ability to control or significantly influence key decisions for the VIE; and the similarity with and significance to the business activities of Kennedy Wilson. The Company determines the appropriate accounting method with respect to all investments that are not VIEs based on the control-based framework (controlled entities are consolidated) provided by the consolidations guidance in ASC Subtopic 810. The Company accounts for joint ventures where it is deemed that the Company does not have control through the equity method of accounting while joint ventures that the Company controls are consolidated in Kennedy Wilson's financial statements. USE OF ESTIMATES — The preparation of the accompanying consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") 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. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates will be reflected in the financial statements in future periods. REVENUE RECOGNITION — Revenue consists of rental and hotel income, management fees (including performance fees), leasing and commission fees, and sales of real estate. ASC Topic 606, Revenue from Contracts with Customers , is a five step model to recognize revenue from customer contracts. 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. Rental income from operating leases is generally recognized on a straight-line basis over the terms of the leases in accordance with ASC Topic 842, Leases . Refer to section COVID-19 Lease Modification Accounting Relief below for the impact of rent deferrals and other lease concessions to lessees on the Company's rental income amounts. Hotel income is earned when rooms are occupied or goods and services have been delivered or rendered. Sales of real estate are recognized when title to the real property passes to the buyer and there is no continuing involvement in the real property. Management fees are primarily comprised of investment management and property services fees. Investment management fees are earned from limited partners of funds, co-investments, or separate accounts and are generally based on a fixed percentage of committed capital or net asset value. Property services fees are earned for managing the operations of real estate assets and are generally based on a fixed percentage of the revenues generated from the respective real estate assets. The Company sold its property services group ("Property Services") at the beginning of the fourth quarter 2020 with the sale of KWP (as further discussed in Note 10 - Related Party Transactions) and will have minimal property services fees going forward. The Company provides investment management and property services on investments it also has an ownership interest in. Fees earned on consolidated properties are eliminated in consolidation and fees on unconsolidated investments are eliminated for the portion that relate to the Company's ownership interest. Commissions primarily consist of acquisition and disposition fees, auction and consulting fees and, prior to the sale of Property Services, also consisted of real estate sales commissions, and leasing commissions. Acquisition and disposition fees are earned for identifying and closing investments on behalf of investors and are based on a fixed percentage of the acquisition or disposition price, as applicable. Acquisition and disposition fees are recognized upon the successful completion of an acquisition or disposition after all required services have been performed. In the case of auction and real estate sales commissions, the revenue is generally recognized when escrow closes. In accordance with the guidelines established for Reporting Revenue Gross as a Principal versus Net as an Agent in the ASC Topic 606, Kennedy Wilson records commission revenues and expenses on a gross basis. Of the criteria listed in ASC Topic 606, Kennedy Wilson is the primary obligor in the transaction, does not have inventory risk, performs all or part of the service, has credit risk, and has wide latitude in establishing the price of services rendered and discretion in selection of agents and determination of service specifications. Leasing fees that are payable upon tenant occupancy, payment of rent or other events beyond Kennedy Wilson's control are recognized upon the occurrence of such events. Sales of real estate are recognized when title to the real property passes to the buyer and there is no continuing involvement in the real property. ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets, 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 ASC Subtopic 610-20, the Company recognizes the entire gain attributed to contributions of real estate properties to unconsolidated entities. Interest income from investments in performing loans which Kennedy Wilson originates or acquires are recognized at the stated interest rate plus any amortization of premiums/discounts or fees earned on the loans. Interest income from investments in loans acquired at a discount are recognized using the effective interest method. When a loan or loans are acquired with deteriorated credit quality primarily for the rewards of collateral ownership, such loans are accounted for as loans until Kennedy Wilson is in possession of the collateral. However, accrual of income is not recorded during the conversion period under ASC Subtopic 310-30-25, Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality . Income is recognized to the extent that cash is received from the loan. 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. UNCONSOLIDATED INVESTMENTS — Kennedy Wilson has a number of joint venture interests that were formed to acquire, manage, and/or sell real estate. Investments in unconsolidated investments are accounted for under the equity method of accounting as Kennedy Wilson can exercise significant influence, but does not have the ability to control the unconsolidated investment. An investment in an unconsolidated investment is recorded at its initial investment and is increased or decreased by Kennedy Wilson’s share of income or loss, plus additional contributions and less distributions. A decline in the value of an unconsolidated investment that is other than temporary is recognized when evidence indicates that such a decline has occurred in accordance with ASC Topic 323, Investments - Equity Method and Joint Ventures . Kennedy Wilson records its investments in certain commingled funds it manages and sponsors (the "Funds") that are investment companies under the ASC Topic 946, Financial Services - Investment Companies , 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. Thus, the Funds reflect their investments at fair value, with unrealized gains and losses resulting from changes in fair value reflected in their earnings. Additionally, Kennedy Wilson elected the fair value option for 29 investments in unconsolidated investment entities ("FV Option" investments). Due to the nature of these investments, Kennedy Wilson elected to record these investments at fair value in order to report the change in value in the underlying investments in the results of our current operations. Performance fees or carried interest are allocated to the general partner, special limited partner or asset manager of Kennedy Wilson's real estate funds based on the cumulative performance of the fund and are subject to preferred return thresholds of the limited partners. At the end of each reporting period, Kennedy Wilson calculates the performance fee that would be due as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as performance fees to reflect either (a) positive performance resulting in an increase in the performance fee allocated to the general partner or asset manager or (b) negative performance that would cause the amount due to Kennedy Wilson to be less than the amount previously recognized as revenue, resulting in a negative adjustment to performance fees allocated to the general partner or asset manager. The Company has concluded that performance fees to the Company, based on cumulative fund performance to-date, represent carried interests. For equity method investments, these fees are included as a component of the income reported from the underlying equity method investee and for equity method investments where the fair value option has been elected, these fees are included in the determination of fair value under Topic 820, Fair Value Measurement . 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 Topic 820 . ASC Topic 820 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. The use of different market assumptions or estimation methodologies may have a material impact on the estimated fair value amounts. See Note 5 for further discussion of the estimation uncertainty related to COVID-19. 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. DISTRIBUTIONS FROM UNCONSOLIDATED INVESTMENTS — The Company utilizes the nature of distributions approach and distributions are reported under operating cash flow unless the facts and circumstances of a specific distribution clearly indicate that it is a return of capital (e.g., a liquidating dividend or distribution of the proceeds from unconsolidated investments' sale of assets), in which case it is reported as an investing activity. This enables Kennedy Wilson to look to the nature and source of the distribution received and classify it appropriately between operating and investing activities on the statement of cash flows based upon the source. 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 the Company's 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. KWE has also entered into currency derivative contracts to manage its exposure to euro to British pound currency fluctuations. See Note 5 for a complete discussion on currency derivative contracts. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES — Kennedy Wilson has derivatives to reduce its exposure to foreign currencies. 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. 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. GOODWILL — Goodwill results from the difference between the purchase price and the fair value of net assets acquired based upon the purchase method of accounting for business combinations. In accordance with ASC Subtopic 350-20, Accounting for Goodwill , goodwill is reviewed for impairment on an annual basis. The Company performs its annual review of impairment at year end and when a triggering event occurs between annual year end reviews. As a result of the evaluation performed as described above, Kennedy Wilson has determined that there was no impairment of goodwill as of December 31, 2020, 2019 and 2018. CASH AND CASH EQUIVALENTS — Cash and cash equivalents consist of cash and all highly liquid investments purchased with maturities of three months or less. Cash and cash equivalents are invested in institutions insured by government agencies. Certain accounts contain balances in excess of the insured limits. Kennedy Wilson's operations and financial position are affected by fluctuations in currency exchange rates between the euro and British pound sterling against the U.S. Dollar. As of December 31, 2020, 2019, and 2018 we have $101.7 million, $54.5 million, and $88.0 million, respectively, of restricted cash, which is included in cash and cash equivalents, that primarily relates to lender reserves associated with consolidated mortgages that we hold on properties as well as escrow deposits associated with acquisitions and dispositions. These reserves typically relate to interest, tax, insurance and future capital expenditures at the properties. LONG-LIVED ASSETS — Kennedy Wilson reviews its long-lived assets (excluding goodwill) whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with ASC Subtopic 360-10, Impairment of Long-Lived Assets . Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized in gain on sale of real estate, net in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are presented separately in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of the assets to be disposed of are classified as held for sale and would be presented separately in the appropriate asset and liability sections of the balance sheet. ACCOUNTS RECEIVABLE — Accounts receivable are recorded at the contractual amount as determined by the underlying agreements and do not bear interest. The Company recognizes revenue to the extent that amounts are probable that substantially all rental income will be collected. See COVID-19 Lease Modification Accounting Relief below for discussion of bad debt expense recorded for the year ended December 31, 2020. For the year ended December 31, 2020 the Company had $15.0 million of bad debt expense recorded as a reduction in rental revenue in accordance with ASC 842. For the year ended December 31, 2019 the Company had an immaterial amount of bad debt expense recorded to rental income. CONCENTRATION OF CREDIT RISK — Financial instruments that subject Kennedy Wilson to credit risk consist primarily of accounts and notes receivable, cash equivalents and derivative instruments. Credit risk is generally diversified due to the large number of entities composing Kennedy Wilson’s customer base and their geographic dispersion throughout the United States, the United Kingdom, Ireland, Spain and Italy. Kennedy Wilson performs ongoing credit evaluations of its customers and debtors. EARNINGS PER SHARE — Basic earnings per share is computed based upon the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings per share is computed based upon the weighted average number of shares of common stock and potentially dilutive securities outstanding during the periods presented. The dilutive impact of potentially dilutive securities including convertible securities, and unvested stock which were outstanding during the period. Unvested stock are calculated by the “treasury stock” method and the convertible securities under the "if converted" method. COMPREHENSIVE INCOME (LOSS) — Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). In the accompanying consolidated balance sheets, accumulated other comprehensive income consists of foreign currency translation adjustments and unrealized gains (losses) on interest rate swaps and derivative instruments. REPURCHASE OF EQUITY INSTRUMENTS — Upon the decision to retire repurchased equity instruments, Kennedy Wilson records the retirement as a reduction to additional paid in capital for the amount that shares were initially issued at with the excess paid going to retained earnings. SHARE-BASED PAYMENT ARRANGEMENTS — Kennedy Wilson accounts for its share-based payment arrangements under the provisions of ASC Subtopic 718-10, Share-Based Payments. Compensation cost for employee service received in exchange for an award of equity instruments is based on the grant-date fair value of the share-based award that is ultimately settled in equity of Kennedy Wilson. The cost of employee services is recognized over the period during which an employee provides service in exchange for the share-based payment award. Share-based payment arrangements with only services conditions that vest ratably over the requisite service period are recognized on the straight-line basis and performance awards that vest ratably are recognized on a tranche by tranche basis over the performance period. 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 basis 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 accounting for uncertainty in ASC Subtopic 740-10, Income Taxes, Kennedy Wilson recognizes the effect of income tax positions only if those positions are more likely than not of being 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. Kennedy Wilson records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses. NONCONTROLLING INTERESTS — Noncontrolling interests are reported within equity as a separate component of Kennedy Wilson's equity in accordance with ASC Subtopic 810-10. Revenues, expenses, gains, losses, net income or loss, and other comprehensive income are reported in the Consolidated Statements of Income at the consolidated amounts and net income and comprehensive income attributable to noncontrolling interests are separately stated. RECENT ACCOUNTING PRONOUNCEMENTS COVID-19 LEASE MODIFICATION ACCOUNTING RELIEF—Due to the business disruptions and challenges severely affecting the global economy caused by the COVID-19 pandemic, many lessors may be required to provide rent deferrals and other lease concessions to lessees. While the lease modification guidance in ASC Topic 842 addresses routine changes to lease terms resulting from negotiations between the lessee and the lessor, this guidance did not contemplate concessions being so rapidly executed to address the sudden liquidity constraints of some lessees arising from the COVID-19 pandemic and restrictions intended to prevent its spread. In April 2020, the FASB staff issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the COVID-19 pandemic. Under existing lease guidance, on a lease by lease basis the Company would have to determine, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows the Company, if certain criteria have been met, to bypass the lease by lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. The Company had no significant deterioration to its rental collections during the year ended December 31, 2020. During the year ended December 31, 2020, the Company identified $15.0 million of receivables and other lease-related assets that are no longer probable of collection. Accordingly, the Company will account for these leases on a cash basis and recognize rental income to the extent the Company receives cash from the tenants. Of the $15.0 million identified, $13.5 million was related to the Company's Consolidated portfolio and recorded as a reduction of rental income and $1.5 million was related to the Company's share of Co-Investments portfolio and recorded as a reduction of income from unconsolidated investments. The Company has received some requests for lease modifications and has granted some deferrals but the amount that may no longer be probable of collection over the lease term generally has not changed so there has been minimal impact to rental revenues from lease modifications. The Company will continue to evaluate the extent of lease concessions granted to tenants as a result of the COVID-19 pandemic in future periods and the elections made by the Company at the time of entering into such concessions. Effective January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842), and other related follow-on ASUs issued in connection with ASC 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 effects of adoption discussed below were not considered material to the Company's consolidated financial statements. Lessees • On January 1, 2019, due to the adoption of ASU 2016-02 the Company has recorded a right of use asset and a corresponding lease liability of $13.6 million, which is recorded as a component of other assets, net and accrued expenses, respectively, in the accompanying consolidated balance sheets. The average remaining lease term is 95 years and the weighted average discount rate is 2.9% as of December 31, 2020. Lessors • The Company elected the practical expedient to not separate rental recovery revenue from the associated rental revenue as the timing and pattern of transfer are the same for operating leases. Accordingly, the Company accounts and presents for rental revenue and rental recovery revenue as a single component. Consistent with the transition guidance under ASU 2018-11, Leases (Topic 842): Targeted Improvements , all prior period disclosures remain in accordance with ASC Topic 840. In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , 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. The Company adopted this standard on January 1, 2020 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which changes the recognition and presentation requirements of hedge accounting, including: eliminating the requirement to separately measure and report hedge ineffectiveness, and presenting all items that affect earnings in the same income statement line item as the hedged item. The ASU also provides new alternatives for (a) applying hedge accounting to additional hedging strategies, (b) measuring the hedged item in fair value hedges of interest rate risk, (c) reducing the cost and complexity of applying hedge accounting by easing the requirements for effectiveness testing, hedge documentation and application of the critical terms match method, and (d) reducing the risk of material error correction if a company applies the shortcut method inappropriately. The Company adopted this standard on January 1, 2019 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220)—Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The Company adopted this standard on January 1, 2019 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Disclosure Framework —Changes to the Disclosure Requirements for Fair Value Measurement , which modifies the disclosure requirements on fair value measurements in ASC Topic 820, including: the removal of valuation processes for Level 3 fair value measurements. The ASU also adds new requirements including (a) the changes in unrealized gains and losses for the period included in other comprehensive income for recurring level 3 fair value measurements and (b) the range and weighted average of significant unobservable inputs used to develop level 3 fair value measurements. The Company adopted this standard on January 1, 2020 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements. In June 2016, the FASB updated ASC Topic 326, Financial Instruments - Credit Losses with ASU 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. This ASU is effective for all entities for annual and interim periods in fiscal years beginning after December 15, 2019. In addition, in November 2018 the FASB issued ASU 2018-19, which clarifies that receivables arising from operating leases are not within the scope of the credit losses standard, but rather, should be accounted for in accordance with ASC Topic 842. The Company adopted this standard on January 1, 2020 and the adoption of this standard did not have a material impact on Kennedy Wilson's consolidated financial statements. During the course of 2020 the Company has launched a debt platform originating and acquiring performing loans. As of December 31, 2020 the Company has $107.1 million of investments in loan originations and acquisitions. Since the Company has no history of having issues with loans being uncollectible and current loans are performing and backed by credit worthy borrowers the Company d

REAL ESTATE AND ACQUIRED IN PLA

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE	REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE The following table summarizes the Company's investment in consolidated real estate properties at December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 Land $ 1,225.1 $ 1,330.6 Buildings 3,436.0 3,630.4 Building improvements 546.6 469.5 Acquired in-place lease values 327.8 352.9 5,535.5 5,783.4 Less accumulated depreciation and amortization (815.0) (703.2) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 4,720.5 $ 5,080.2 Real property, including land, buildings, and building improvements, are included in real estate and are generally stated at cost. Buildings and building improvements are depreciated on the straight-line method over their estimated lives not to exceed 40 years. Acquired in-place lease values are recorded at their estimated fair value and depreciated over their respective weighted-average lease term which was 7.5 years at December 31, 2020. Depreciation and amortization expense on buildings, building improvements and acquired in-place lease values for the years ended December 31, 2020, 2019 and 2018 was $165.7 million, $173.4 million and $190.3 million, respectively. Consolidated Acquisitions The purchase of property is recorded to land, buildings, building improvements, and intangible lease value (including the value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any) based on their respective estimated relative fair values. The purchase price generally approximates the fair value of the properties as acquisitions are generally transacted with third-party willing sellers. During the year ended December 31, 2020, 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 KWH Shareholders' Equity Western U.S. One multifamily property $ 13.4 $ 53.6 $ 0.5 $ 38.7 $ 106.3 United Kingdom One industrial property — 40.2 — — 40.2 Ireland One commercial property — 1.3 — — 1.3 $ 13.4 $ 95.1 $ 0.5 $ 38.7 $ 147.8 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets, net and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. During the year ended December 31, 2019, 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 KWH Shareholders' Equity Western U.S. One multifamily property and one commercial property $ 39.9 $ 123.0 $ 37.2 $ 112.2 $ 87.9 United Kingdom One commercial property and one industrial property 29.0 39.2 2.9 58.6 12.5 Ireland One commercial property 7.2 31.7 3.4 44.0 (1.7) $ 76.1 $ 193.9 $ 43.5 $ 214.8 $ 98.7 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets, net and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. Gains on Real Estate, Net During the years ended December 31, 2020, 2019 and 2018, Kennedy Wilson recognized the following net gains on sale of real estate. Included in the net gains for December 31, 2020 is an impairment loss of $15.6 million on five retail properties in the United Kingdom and a residential property in the Western United States. Included in the net gains for December 31, 2018 is an $1.8 million impairment loss on a vacated office building in the United Kingdom which was subsequently sold. During the year ended December 31, 2019 there were no impairments on consolidated properties. (Dollars in millions) Gain on sale of real estate Year ended December 31, Description Consolidated (1) NCI Net of NCI 2020 20 industrial properties (including the deconsolidation of previously consolidated real estate as discussed below), 19 retail properties, three office properties and one multifamily property in United Kingdom, two multifamily properties and two office properties in Ireland, one retail property in Spain, and one multifamily property in Western United States $ 353.6 $ — $ 353.6 2019 11 commercial properties and one hotel in the United Kingdom, one hotel in Ireland, 10 Spanish retail properties, five retail properties, one hotel, and one multifamily property in the Western United States, and the deconsolidation of previously consolidated real estate as discussed below 434.9 116.7 318.2 2018 26 commercial properties in United Kingdom, three commercial properties in Ireland, two commercials properties in Italy, six multifamily properties in Ireland, three multifamily properties in Western United States, and one residential property in Ireland, and one residential property in Western United States 369.6 70.6 299.0 (1) Includes sale of real estate and cost of real estate sold, which are presented net in the table above. Deconsolidation of Previously Consolidated Real Estate Under ASC Subtopic 610-20, due to the transactions resulting in the deconsolidation for the Company's interest in the new joint ventures representing a noncontrolling interest of certain assets, the Company recognized (i) $126.3 million through gain on sale of real estate, net during the year ended December 31, 2020, (ii) a gain of $317.8 million through gain on sale of real estate, net, of which the Company's share, net of noncontrolling interest, was $212.4 million during the year ended December 31, 2019, and (iii) a gain of $169.5 million through gain on sale of real estate, net, of which the Company's share, net of noncontrolling interest, was $102.7 million during the year ended December 31, 2018. Leases The Company leases its operating properties to customers under agreements that are classified as operating leases. The total minimum lease payments provided for under the leases are recognized on a straight-line basis over the lease term. The majority of the Company's rental expenses, including common area maintenance, real estate taxes and insurance, are recovered from the Company's tenants. The Company records amounts reimbursed by customers in the period that the applicable expenses are incurred, which is generally ratably throughout the term of the lease. The reimbursements are recognized in rental income in the consolidated statements of operations as the Company is the primary obligor with respect to purchasing and selecting goods and services from third-party vendors and bearing the associated credit risk. The following table summarizes the minimum lease payments due from the Company's tenants on leases with lease periods greater than one year at December 31, 2020: (Dollars in millions) Minimum Rental Revenues (1) 2021 $ 167.9 2022 156.7 2023 127.8 2024 105.2 2025 87.9 Thereafter 355.3 Total $ 1,000.8 (1) These amounts do not reflect future rental revenues from the renewal or replacement of existing leases, rental increases that are not fixed and exclude reimbursements of rental expenses.

UNCONSOLIDATED INVESTMENTS

UNCONSOLIDATED INVESTMENTS	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
UNCONSOLIDATED INVESTMENTS	UNCONSOLIDATED INVESTMENTS Kennedy Wilson has a number of joint venture interests including commingled funds and separate accounts, generally ranging from 5% to 50%, that were formed to acquire, manage, develop, service and/or sell real estate. Kennedy Wilson has significant influence over these entities, but not control. Accordingly, these investments are accounted for under the equity method. Joint Venture and Fund Holdings The following table details Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2020: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 226.2 $ 83.0 $ 86.3 $ 118.1 $ 180.8 $ 694.4 Ireland 389.7 129.7 — 3.7 — 523.1 United Kingdom — 56.4 — 15.4 — 71.8 Total $ 615.9 $ 269.1 $ 86.3 $ 137.2 $ 180.8 $ 1,289.3 The following table details the Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2019: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 230.5 $ 78.1 $ 72.8 $ 139.6 $ 238.7 $ 759.7 Ireland 378.7 139.4 — — — 518.1 United Kingdom — 48.7 — — — 48.7 Total $ 609.2 $ 266.2 $ 72.8 $ 139.6 $ 238.7 $ 1,326.5 During the year ended December 31, 2020, the change in unconsolidated investments primarily relates to $111.6 million of cash contributions to unconsolidated investments, $237.2 million of distributions from unconsolidated investments, $81.0 million of income from unconsolidated investments (including $47.2 million of fair value gains), a $16.4 million non-cash distribution related to the sale of a residential project in which the Company received three parcels of land that are wholly-owned and a $24.4 million increase related to other items which primarily related to foreign exchange movements. As of December 31, 2020 and December 31, 2019, $1,136.5 million and $1,099.3 million of unconsolidated investments were accounted for at fair value. See Note 5 for more detail. Contributions to Joint Ventures During the year ended December 31, 2020, Kennedy Wilson contributed $111.6 million to joint ventures, primarily to fund investments and existing development projects in Ireland and the Western United States. In addition, on December 18, 2020, the Company and a sovereign wealth fund entered into a joint venture agreement targeting urban logistics properties in the UK, with the potential to expand into Ireland and Spain ("Industrial JV"). The Industrial JV commenced with Industrial JV investing in an 80% ownership stake in 18 industrial assets located throughout the United Kingdom. The Company previously wholly-owned the assets and continues to hold an interest in these assets subsequent to their sale to the Industrial JV through its retained 20% ownership interest in the joint venture. As the Company does not control the Industrial JV, the assets are no longer consolidated and the Industrial JV is accounted for under the equity method. The Company elected the fair value option and going forward the investments are accounted for as fair value unconsolidated investments with operating activity included within income from unconsolidated investments. Distributions from Joint Ventures The following table details cash distributions by investment type and geographic location for the year ended December 31, 2020: Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 25.8 $ 28.7 $ 6.4 $ 2.6 $ 6.7 $ 13.3 $ — $ 33.3 $ 38.9 $ 77.9 Ireland 8.5 2.5 12.2 96.0 0.1 — — — 20.8 98.5 United Kingdom — — — 1.1 — — — — — 1.1 Total $ 34.3 $ 31.2 $ 18.6 $ 99.7 $ 6.8 $ 13.3 $ — $ 33.3 $ 59.7 $ 177.5 Investing distributions resulted primarily from the sales of two multifamily properties in Ireland and a residential project in the Western United States. Income from Unconsolidated Investments The following table presents income from unconsolidated investments recognized by Kennedy Wilson during the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, (Dollars in millions) 2020 2019 2018 Income from unconsolidated investments - operating performance $ 43.4 $ 35.5 $ 18.8 Income from unconsolidated investments - realized gains — 53.5 22.1 Income from unconsolidated investments - fair value 47.2 64.7 10.4 Income from unconsolidated investments - performance fees 2.7 36.3 27.4 Income from unconsolidated investments - realized losses and impairment (12.3) (10.3) — $ 81.0 $ 179.7 $ 78.7 Operating performance is related to the underlying performance from unconsolidated investments. Realized gains are related to asset sales. Fair value gains and performance fees are primarily related to conversions and resyndications under the Company's VHH partnership, asset sales, cap rate compression, net foreign exchange movements and improved property performance by the Company's FV Option investments and investments held within the Funds managed by the Company. Quarterly the Company evaluates the carrying value of its historical cost based investments and to the extent the carrying value is in excess of its fair value an impairment loss is recorded. Realized losses and impairment are related to asset sales on non-core retail assets in the United Kingdom in the current year and a residential development project in the Western United States in the prior year. Vintage Housing Holdings ("VHH") As of December 31, 2020 and 2019, the carrying value of the Company's investment in VHH was $142.9 million and $142.8 million, respectively. The total equity income recognized from the Company's investment in VHH was $22.8 million, $50.0 million and $27.3 million for the years ended December 31, 2020, 2019 and 2018. respectively. Current period fair value gains were offset by distributions associated with operating properties and investing distributions associated with return of capital from mortgage financing or sale of interests to equity partners on development projects. Fair value gains in the current period are due to the conversion of development projects to stabilized operating properties and 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. Prior period fair value gains are due to improved property performance, cap rate compression as a result of declines in borrowing rates and conversions. Changes in Control During the year ended December 31, 2020, the Company deconsolidated its investment KW Europe Fund II as the Company no longer held a controlling financial interest in it. As of December 31, 2020, the carrying value of the Company's investment in KW Europe Fund II was $19.1 million. Refer to the description of the Industrial JV above for a discussion of the change in control transaction that occurred during the year ended December 31, 2020. As of December 31, 2020, the carrying value of the Company's investment in the Industrial JV was $19.0 million. In 2018, AXA Investment Managers - Real Assets ("AXA") and the Company established a joint venture platform ("AXA Joint Venture") targeting multifamily and office assets in Ireland. As of December 31, 2020, the AXA Joint Venture consists of 2,536 multifamily units and 0.4 million square feet of office space across 13 assets in Dublin, Ireland. These assets were previously wholly owned by the Company or were held with a different equity partner (held in 50/50 joint ventures) that were previously consolidated in the Company’s financial statements. As the Company does not control the AXA Joint Venture, 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 records the investment at fair value. The Company continues to hold a 50% ownership interest in the assets discussed above through its ownership in the AXA Joint Venture. As of December 31, 2020 and 2019, the carrying value of the Company's investment in the AXA Joint Venture was $507.5 million and $479.4 million, respectively. Meyers Research Sale In December 2018, Kennedy Wilson sold Meyers Research for $48.0 million and recognized a gain on sale of business of $40.4 million. Kennedy Wilson used part of the proceeds from such sale to reinvest $15.0 million for an 11% ownership interest in a new partnership between Meyers Research and another premiere residential real estate construction service company ("Meyers JV"). The Meyers JV has continued to build out and further develop its Zonda platform which focuses on real time housing related data. Kennedy Wilson no longer controls Meyers JV and treats the investment as an unconsolidated investment. As of December 31, 2020, the carrying value of the Company's investment in Meyers JV was $19.0 million. The fair value increase has been driven by improvements in Meyers JV's operating results. Capital Commitments

FAIR VALUE MEASUREMENTS AND THE

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION	12 Months Ended
	Dec. 31, 2020
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 December 31, 2020: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 1,136.5 $ 1,136.5 Net currency derivative contracts — (64.0) — (64.0) Total $ — $ (64.0) $ 1,136.5 $ 1,072.5 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, 2019: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 1,099.3 $ 1,099.3 Net currency derivative contracts — (34.7) — (34.7) Total $ — $ (34.7) $ 1,099.3 $ 1,064.6 Unconsolidated Investments Kennedy Wilson elected to use the FV Option for 29 unconsolidated investments to more accurately reflect the timing of the value created in the underlying investments and report those changes in current operations. Kennedy Wilson's investment balance in the FV Option investments was $999.2 million and $959.7 million at December 31, 2020 and 2019, respectively, which are included in unconsolidated investments in the accompanying balance sheets. Additionally, Kennedy Wilson records its investments in its managed commingled funds (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. The Company’s investment balance in the Funds was $137.3 million and $139.6 million at December 31, 2020 and 2019, respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets. In estimating fair value of real estate held by the Funds and the 29 FV Option investments, the Company considers significant unobservable inputs to be the capitalization and discount rates. The following table summarizes the Company's investments in unconsolidated investments held at fair value by type: (Dollars in millions) December 31, 2020 December 31, 2019 FV Option $ 999.2 $ 959.7 Funds 137.3 139.6 Total $ 1,136.5 $ 1,099.3 The following table presents changes in Level 3 investments, investments in investment companies and investments in joint ventures that elected the fair value option, for the years ended December 31: (Dollars in millions) 2020 2019 2018 Beginning balance $ 1,099.3 $ 662.2 $ 380.7 Unrealized and realized gains 109.8 161.1 87.7 Unrealized and realized losses (13.5) (26.9) (33.1) Contributions 109.2 191.2 335.9 Distributions (189.7) (104.1) (76.3) Foreign Exchange 24.5 (3.4) (4.0) Non-cash contributions (distributions), net (3.1) 219.2 (28.7) Ending Balance $ 1,136.5 $ 1,099.3 $ 662.2 The change in unrealized and realized gains and losses are included in income from unconsolidated investments in the accompanying consolidated statements of income. The change in unrealized gains and losses on Level 3 investments during 2020 and 2019 for investments still held as of December 31, 2020 and 2019 were gains of $27.4 million and $64.9 million, respectively. In determining estimated fair market values, the Company utilizes discounted cash flow models that estimate future cash flows (including terminal values) and discount those cash flows back to the current period. The accuracy of estimating fair value for investments 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. The table below describes the range of inputs used as of December 31, 2020 for real estate assets: Estimated Rates Used For Capitalization Rates Discount Rates Multifamily 3.80% — 5.75% 5.75% — 8.15% Office 4.00% — 7.00% 5.00% — 9.00% Retail 5.00% — 8.75% 7.50% — 11.25% Hotel 6.00% 7.50% — 8.25% Residential N/A 12.00% In valuing indebtedness, Kennedy Wilson considers significant inputs to be 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 0.37% to 4.90%. There is no active secondary market for the Company's development projects and no readily available market value given the uncertainty of the amount and timing of future cash flows. Accordingly, determination of fair value of its development projects requires judgment and extensive use of estimates. Therefore, the Company typically uses investment cost as the estimated fair value until future cash flows become more predictable. Additionally, the fair value of its development projects may differ significantly from the values that would have been used had a market existed for such investments and may differ materially from the values that the Company may ultimately realize. If the Company were required to liquidate an investment in a forced or liquidation sale, it could realize significantly less than the value at which the Company has recorded it. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected in the currently assigned valuations. The Company assessed the impact of the COVID-19 pandemic and its impact on the fair value of investments. Valuations of its assets that are reported at fair value and the markets in which they operate, to date, have not been significantly impacted by the COVID-19 pandemic. As a result of the rapid development, fluidity and uncertainty surrounding this situation, the Company expects that information with respect to fair value measurement may change, potentially significantly, going forward and may not be indicative of the actual impact of the COVID-19 pandemic on its business, operations, cash flows and financial condition for the year ended December 31, 2020 and future periods. 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 December 31, 2020, 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, we have determined that our derivative valuation in its entirety be classified in Level 2 of the fair value hierarchy. Changes in fair value are recorded in other comprehensive income in the accompanying consolidated statements of comprehensive income 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 ASC Topic 815, Derivatives and Hedging . The fair value of the derivative instruments held as of December 31, 2020 and 2019 are reported in other assets for hedge assets and included in accrued expenses and other liabilities for hedge liabilities on the accompanying consolidated balance sheet. See Note 14 for a complete discussion on other comprehensive income including currency forward and option contracts and foreign currency translations. The table below details the currency forward contracts and currency option contracts Kennedy Wilson had as of December 31, 2020: (Dollars in millions) December 31, 2020 Year Ended December 31, 2020 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized (Losses) Gains Realized (Losses) Gains Interest Expense Cash Received (Paid) Outstanding EUR USD € 232.5 $ 1.4 $ 17.3 $ (1.1) $ (22.0) $ 3.4 $ — EUR (1) GBP € 212.6 — 34.7 (3.7) — — — EUR (1)(2) GBP — — 35.1 — — — GBP USD £ 410.0 10.6 23.9 (12.9) — 4.4 — Total Outstanding 12.0 75.9 17.4 (22.0) 7.8 — Settled EUR USD — — 0.4 4.7 0.6 13.6 EUR GBP — — (4.0) — — (17.1) GBP USD — — 18.4 — 0.9 18.9 Total Settled — — 14.8 4.7 1.5 15.4 Total $ 12.0 $ 75.9 $ 32.2 (3) $ (17.3) $ 9.3 $ 15.4 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 9. (3) Excludes deferred tax benefit of $0.2 million. The gains and (losses) recognized through other comprehensive income (loss) will remain in accumulated other comprehensive income (loss) until the underlying investments they were hedging are substantially liquidated by Kennedy Wilson. Interest Rate Swaps During the years ended December 31, 2020 and 2019, the Company entered into $138.4 million notional of interest rate swaps on some variable rate property-level mortgage loans. During the year ended December 31, 2020, the Company had additional interest rate expense relating to difference in variable rate and fixed interest rates of $1.2 million and had interest rate savings of $0.2 million during the year ended December 31, 2019. The changes in fair value on these contracts were a loss of $6.9 million and $0.7 million for the years ended December 31, 2020 and 2019 and are recorded to other comprehensive loss. During the year ended December 31, 2020, due to the sale of a consolidated multifamily property which had an interest rate swap designated on one of its variable rate mortgages a loss of $0.7 million that had been recorded to other comprehensive income was reclassified to the income statement and reduced the gain on sale of real estate associated with the property. 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 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. Debt assumed in an asset acquisition, or business combination, is recorded at fair value on the date of acquisition. The fair value as of December 31, 2020 and 2019 for mortgages, KW unsecured debt, and KWE unsecured bonds were estimated to be approximately $4.9 billion and $5.2 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 $5.1 billion and $5.0 billion as of December 31, 2020 and 2019, respectively. The inputs used to value mortgages, KW 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	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following: December 31, (Dollars in millions) 2020 2019 Loan purchases and originations $ 107.1 $ 37.5 Straight line rent receivable 51.6 47.3 Deferred taxes, net 22.1 24.4 Goodwill 23.9 23.9 Furniture and equipment net of accumulated depreciation of $27.2 and $21.9 at December 31, 2020 and December 31, 2019, respectively 22.3 23.7 Other, net of accumulated amortization of $2.1 and $2.0 at December 31, 2020 and 2019, respectively 19.0 16.5 Above-market leases, net of accumulated amortization of $58.3 and $51.0 at December 31, 2020 and 2019, respectively 15.0 26.1 Hedge assets 12.0 32.6 Prepaid expenses 11.8 14.3 Right of use asset, net 11.2 13.6 Leasing commissions, net of accumulated amortization of $7.4 and $4.7 at December 31, 2020 and 2019, respectively 10.2 11.9 Other Assets $ 306.2 $ 271.8 Depreciation and amortization expense related to the above depreciable assets were $13.6 million, $14.2 million, and $15.8 million for the years ended December 31, 2020, 2019 and 2018, respectively. Loan Purchases and Originations The Company has various loans bearing interest at rates ranging from 2.74% to 13.00%, and maturities ranging from 2021 to 2030. Loans have been evaluated for credit losses as of December 31, 2020 and the Company has determined that no credit losses are apparent. The Company's loan positions are predominantly senior mortgage loans, but it also holds real-estate mezzanine and similar loans. Right of use asset, net The Company, as a lessee, has three office leases and four ground leases, which qualify as operating leases, with remaining lease terms of 5 to 239 years. The payments associated with office space leases have been discounted using the Company's incremental borrowing rate which is based on collateralized interest rates in the market and risk profile of the associated lease. For ground leases the rate implicit in the lease was used to determine the right of use asset. The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted to calculate the right of use asset and related lease liability for its operating leases in which we are the lessee: (Dollars in millions) Minimum Rental Payments 2021 $ 1.5 2022 1.5 2023 0.8 2024 0.5 2025 0.4 Thereafter 32.4 Total undiscounted rental payments 37.1 Less imputed interest (25.9) Total lease liabilities $ 11.2

MORTGAGE DEBT

MORTGAGE DEBT	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
MORTGAGE DEBT	MORTGAGE DEBT The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of December 31, 2020 and 2019: (Dollars in millions) Carrying amount of mortgage debt as of December 31, (1) Mortgage Debt by Product Type Region 2020 2019 Multifamily (1) Western U.S. $ 1,345.5 $ 1,324.7 Commercial (1) United Kingdom 429.6 514.5 Commercial Western U.S. 375.2 405.4 Commercial (1) Ireland 320.5 289.6 Hotel Ireland 88.0 80.8 Commercial Spain 43.6 40.3 Mortgage debt (excluding loan fees) (1) 2,602.4 2,655.3 Unamortized loan fees (12.6) (14.3) Total Mortgage Debt $ 2,589.8 $ 2,641.0 (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 net unamortized loan premium as of December 31, 2020 and 2019 was $4.5 million and $4.0 million, respectively. The mortgage debt had a weighted average interest rate of 3.31% and 3.41% per annum as of December 31, 2020 and 2019, respectively. As of December 31, 2020, 73% of Kennedy Wilson's property level debt was fixed rate, 13% was floating rate with interest caps and 14% was floating rate without interest caps, compared to 76% fixed rate, 14% floating rate with interest caps and 10% floating rate without interest caps, as of December 31, 2019. Mortgage Loan Transactions and Maturities During the year ended December 31, 2020, one acquisition was partially financed with mortgages, four existing mortgages were refinanced, and five existing investments that closed with all equity were subsequently partially financed with mortgage loans. See Note 4 for more detail on the acquisitions and the investment debt associated with them. The aggregate maturities of mortgage loans subsequent to December 31, 2020 are as follows: (Dollars in millions) Aggregate Maturities 2021 (1) $ 47.5 2022 330.9 2023 428.8 2024 206.1 2025 547.2 Thereafter 1,037.4 2,597.9 Unamortized debt premium 4.5 Unamortized loan fees (12.6) Total Mortgage Debt $ 2,589.8 (1) The Company expects to repay the amounts maturing in the next twelve months with new mortgage loans, cash generated from operations, existing cash balances, proceeds from dispositions of real estate investments, or as necessary, with borrowings on our A&R Facility. As of December 31, 2020, the Company received waivers on certain debt covenants in loan agreements governing a total of $266.9 million or 10% of our consolidated mortgage balance. These mortgages are secured by certain retail and hospitality assets in the United Kingdom and Ireland. All of these loans are non-recourse to the Company and the waivers are through April 30, 2021 and beyond and typically cover interest coverage and loan-to-value covenants. The Company expects to be in compliance with these covenants subsequent to December 31, 2020, or will seek additional waivers and/or extensions as, and if needed. In the event the Company is required to seek such additional waivers and/or extensions, the Company is currently confident that it will be able to obtain them. The Company is current on all payments (principal and interest) for its consolidated mortgages including the loans discussed above. As of December 31, 2020, the Company was in compliance with or had received waivers on all financial mortgage debt covenants.

KW UNSECURED DEBT

KW UNSECURED DEBT	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
KW UNSECURED DEBT	KW UNSECURED DEBT The following table details KW unsecured debt as of December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 Credit Facility $ 200.0 $ — Senior Notes (1) 1,146.9 1,146.1 KW Unsecured Debt 1,346.9 1,146.1 Unamortized loan fees (14.7) (14.4) Total KW Unsecured Debt $ 1,332.2 $ 1,131.7 (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 debt discount as of December 31, 2020 and 2019 was $3.1 million and $3.9 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. On March 25, 2020, the Company extended its existing $500 million revolving line of credit ("Second A&R Facility"). Loans under the Second A&R Facility bear interest at a rate equal to LIBOR plus between 1.75% and 2.50%, depending on the consolidated leverage ratio as of the applicable measurement date. The Second A&R Facility has a maturity date of March 25, 2024. Subject to certain conditions precedent and at Kennedy-Wilson, Inc.’s (the "Borrower") option, the maturity date of the Second A&R Facility may be extended by one year. The Second A&R Facility has certain covenants as defined within its Second Amended and Restated Credit Agreement, dated as of March 25, 2020 (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, 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 $1,700,000,000 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 March 25, 2020, 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 $299,000,000, (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 December 31, 2020, the Company was in compliance with all financial covenant calculations. The obligations of the Borrower pursuant to the Credit Agreement are guaranteed by the Company and certain wholly-owned subsidiaries of the Company. As of December 31, 2020, the Company had $200.0 million outstanding balance on the Second A&R Facility with $300.0 million available to be drawn under the revolving credit facility. Subsequent to December 31, 2020, the Company repaid $100.0 million of the $200.0 million outstanding balance on the Second A&R Facility. The average outstanding borrowings under credit facilities was $146.4 million during the year ended December 31, 2020. 2024 Notes Kennedy Wilson, Inc., (the "Issuer") has $1.2 billion of 5.875% senior notes due 2024 (the "2024 Notes"). The indentures governing the 2024 Notes contain various restrictive covenants, including, among others, limitations on the Company's ability and the ability of certain of the Company's subsidiaries to incur or guarantee additional indebtedness, 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 indentures governing the 2024 Notes limit the ability of Kennedy Wilson and its restricted subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the new indebtedness, the maximum balance sheet leverage ratio (as defined in the indenture) is greater than 1.50 to 1.00. This ratio is measured at the time of incurrence of additional indebtedness. See Note 17 for the guarantor and non-guarantor financial statements. Subsequent to December 31, 2020, the Company issued $1.0 billion in aggregate principal of senior notes due in 2029 and 2031 and plans to redeem $1.0 billion aggregate principal amount of 2024 Notes through a tender offer and redemption under the indentures governing the 2024 Notes. See Note 19 for more detail. As of December 31, 2020, the Company was in compliance with all financial covenants. The following table details the KWE unsecured bonds as of December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 KWE Bonds $ 504.7 $ 662.9 KWE Euro Medium Term Note Programme 669.7 614.7 KWE Unsecured Bonds (excluding loan fees) (1) 1,174.4 1,277.6 Unamortized loan fees (1.9) (3.4) Total KWE Unsecured Bonds $ 1,172.5 $ 1,274.2 (1) The KWE unsecured bonds 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 net unamortized loan premium (discount) as of December 31, 2020 and 2019 was $(2.8) million and $(3.1) million, respectively. KWE has £500 million of 3.95% fixed-rate senior unsecured bonds due 2022 that have a carrying value of $504.7 million and $662.9 million as of December 31, 2020 and 2019, respectively. KWE effectively reduced the interest rate to 3.35% as a result of entering into swap agreements to convert 50% of the proceeds into Euros. On October 7, 2020, KWE launched a cash tender offer for part of its £500 million of the KWE Bonds (the "Tender Offer"). KWE purchased £130.2 million ($177.7 million based on December 31, 2020 rates) in aggregate nominal amount of the KWE Bonds, or 26.04% of the £500.0 million aggregate nominal amount of the KWE Bonds outstanding in Tender Offer. The purchase price for the KWE Bonds validly tendered and accepted for purchase pursuant to the Tender Offer was a price equal to 101% of the nominal amount of the relevant KWE Bonds, plus accrued and unpaid interest to, but not including, October 22, 2020. The total Tender Offer consideration was £133.1 million, including accrued and unpaid interest and was settled on October 22, 2020. The Company recognized $2.3 million of interest expense due to the premium paid and the accelerated amortization of portion of unamortized loan fees associated with the Tender Offer. In addition, KWE has a £2.0 billion (approximately $2.7 billion based on December 31, 2020 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 $672.4 million (based on December 31, 2020 rates) (€550 million) (the "KWE Notes"). The KWE Notes were issued at a discount 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 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 year ended December 31, 2020, Kennedy Wilson recognized a gain of $35.1 million in accumulated other comprehensive income due to the weakening of the euro against the GBP during the period. The KWE Notes rank pari passu with the KWE Bonds, and are subject to the same restrictive covenants. The trust deed that governs the bonds contain various restrictive covenants for KWE, including, among others, limitations on KWE’s and its material subsidiaries’ ability to provide certain negative pledges. The trust deed limits the ability of KWE and its subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the incurrence of the new indebtedness, (1) KWE’s consolidated net indebtedness (as defined in the trust deed) would exceed 60% of KWE’s total assets (as calculated pursuant to the terms of the trust deed); and (2) KWE’s consolidated secured indebtedness (as defined in the trust deed) would exceed 50% of KWE’s total assets (as calculated pursuant to the terms of the trust deed). The trust deed also requires KWE, as of each reporting date, to maintain an interest coverage ratio (as defined in the trust deed) of at least 1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed). As of December 31, 2020, KWE was in compliance with these financial covenants.

KWE UNSECURED BONDS

KWE UNSECURED BONDS	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
KWE UNSECURED BONDS	KW UNSECURED DEBT The following table details KW unsecured debt as of December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 Credit Facility $ 200.0 $ — Senior Notes (1) 1,146.9 1,146.1 KW Unsecured Debt 1,346.9 1,146.1 Unamortized loan fees (14.7) (14.4) Total KW Unsecured Debt $ 1,332.2 $ 1,131.7 (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 debt discount as of December 31, 2020 and 2019 was $3.1 million and $3.9 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. On March 25, 2020, the Company extended its existing $500 million revolving line of credit ("Second A&R Facility"). Loans under the Second A&R Facility bear interest at a rate equal to LIBOR plus between 1.75% and 2.50%, depending on the consolidated leverage ratio as of the applicable measurement date. The Second A&R Facility has a maturity date of March 25, 2024. Subject to certain conditions precedent and at Kennedy-Wilson, Inc.’s (the "Borrower") option, the maturity date of the Second A&R Facility may be extended by one year. The Second A&R Facility has certain covenants as defined within its Second Amended and Restated Credit Agreement, dated as of March 25, 2020 (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, 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 $1,700,000,000 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 March 25, 2020, 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 $299,000,000, (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 December 31, 2020, the Company was in compliance with all financial covenant calculations. The obligations of the Borrower pursuant to the Credit Agreement are guaranteed by the Company and certain wholly-owned subsidiaries of the Company. As of December 31, 2020, the Company had $200.0 million outstanding balance on the Second A&R Facility with $300.0 million available to be drawn under the revolving credit facility. Subsequent to December 31, 2020, the Company repaid $100.0 million of the $200.0 million outstanding balance on the Second A&R Facility. The average outstanding borrowings under credit facilities was $146.4 million during the year ended December 31, 2020. 2024 Notes Kennedy Wilson, Inc., (the "Issuer") has $1.2 billion of 5.875% senior notes due 2024 (the "2024 Notes"). The indentures governing the 2024 Notes contain various restrictive covenants, including, among others, limitations on the Company's ability and the ability of certain of the Company's subsidiaries to incur or guarantee additional indebtedness, 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 indentures governing the 2024 Notes limit the ability of Kennedy Wilson and its restricted subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the new indebtedness, the maximum balance sheet leverage ratio (as defined in the indenture) is greater than 1.50 to 1.00. This ratio is measured at the time of incurrence of additional indebtedness. See Note 17 for the guarantor and non-guarantor financial statements. Subsequent to December 31, 2020, the Company issued $1.0 billion in aggregate principal of senior notes due in 2029 and 2031 and plans to redeem $1.0 billion aggregate principal amount of 2024 Notes through a tender offer and redemption under the indentures governing the 2024 Notes. See Note 19 for more detail. As of December 31, 2020, the Company was in compliance with all financial covenants. The following table details the KWE unsecured bonds as of December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 KWE Bonds $ 504.7 $ 662.9 KWE Euro Medium Term Note Programme 669.7 614.7 KWE Unsecured Bonds (excluding loan fees) (1) 1,174.4 1,277.6 Unamortized loan fees (1.9) (3.4) Total KWE Unsecured Bonds $ 1,172.5 $ 1,274.2 (1) The KWE unsecured bonds 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 net unamortized loan premium (discount) as of December 31, 2020 and 2019 was $(2.8) million and $(3.1) million, respectively. KWE has £500 million of 3.95% fixed-rate senior unsecured bonds due 2022 that have a carrying value of $504.7 million and $662.9 million as of December 31, 2020 and 2019, respectively. KWE effectively reduced the interest rate to 3.35% as a result of entering into swap agreements to convert 50% of the proceeds into Euros. On October 7, 2020, KWE launched a cash tender offer for part of its £500 million of the KWE Bonds (the "Tender Offer"). KWE purchased £130.2 million ($177.7 million based on December 31, 2020 rates) in aggregate nominal amount of the KWE Bonds, or 26.04% of the £500.0 million aggregate nominal amount of the KWE Bonds outstanding in Tender Offer. The purchase price for the KWE Bonds validly tendered and accepted for purchase pursuant to the Tender Offer was a price equal to 101% of the nominal amount of the relevant KWE Bonds, plus accrued and unpaid interest to, but not including, October 22, 2020. The total Tender Offer consideration was £133.1 million, including accrued and unpaid interest and was settled on October 22, 2020. The Company recognized $2.3 million of interest expense due to the premium paid and the accelerated amortization of portion of unamortized loan fees associated with the Tender Offer. In addition, KWE has a £2.0 billion (approximately $2.7 billion based on December 31, 2020 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 $672.4 million (based on December 31, 2020 rates) (€550 million) (the "KWE Notes"). The KWE Notes were issued at a discount 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 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 year ended December 31, 2020, Kennedy Wilson recognized a gain of $35.1 million in accumulated other comprehensive income due to the weakening of the euro against the GBP during the period. The KWE Notes rank pari passu with the KWE Bonds, and are subject to the same restrictive covenants. The trust deed that governs the bonds contain various restrictive covenants for KWE, including, among others, limitations on KWE’s and its material subsidiaries’ ability to provide certain negative pledges. The trust deed limits the ability of KWE and its subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the incurrence of the new indebtedness, (1) KWE’s consolidated net indebtedness (as defined in the trust deed) would exceed 60% of KWE’s total assets (as calculated pursuant to the terms of the trust deed); and (2) KWE’s consolidated secured indebtedness (as defined in the trust deed) would exceed 50% of KWE’s total assets (as calculated pursuant to the terms of the trust deed). The trust deed also requires KWE, as of each reporting date, to maintain an interest coverage ratio (as defined in the trust deed) of at least 1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed). As of December 31, 2020, KWE was in compliance with these financial covenants.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Related party revenue is fees and other income received from investments in which we have an ownership interest, excluding amounts eliminated in consolidation discussed below. Kennedy Wilson earned related party fees of $22.7 million, $26.1 million and $15.3 million for the periods ended December 31, 2020, 2019 and 2018, respectively. The Company provides asset and property management and other property related services on properties in which it also has an ownership interest. Fees earned on consolidated properties are eliminated in consolidation and fees on unconsolidated investments are eliminated for the portion that relate to the Company's ownership interest. During the years ended December 31, 2020, 2019 and 2018 fees of $1.1 million, $18.1 million and $13.6 million were eliminated in consolidation. On October 2, 2020, the Company completed the sale of Kennedy-Wilson Properties, Ltd. (“KWP”), a wholly-owned subsidiary of the Company operating in the third-party real estate services industry, including, property management, commercial brokerage (leasing and sale), facilities management and lease administration, to an entity controlled by certain members of KWP management (the “Purchaser”). As part of the transaction and in exchange for an annual fee, the Company will provide certain services to KWP, including the use of certain office space and information technology related services, in addition to a license to use its trademark in connection with the operation of its business for a period of two years, with a two-year extension option exercisable by the Purchaser subject to certain conditions being met. The Company also provided

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The table below represents a geographical breakdown of book income before the provision for income taxes: Year ended December 31, (Dollars in millions) 2020 2019 2018 Domestic $ (37.0) $ 249.5 $ 156.5 Foreign 188.4 113.0 113.6 Total $ 151.4 $ 362.5 $ 270.1 The U.S. and foreign components of provision for income taxes consisted of the following components. However, it is not reflective of the cash tax results of the Company. Year ended December 31, (Dollars in millions) 2020 2019 2018 Federal Current $ — $ — $ — Deferred 23.3 31.2 33.4 23.3 31.2 33.4 State Current 1.5 0.3 — Deferred 0.4 (4.6) 10.6 1.9 (4.3) 10.6 Foreign Current 14.9 14.4 18.4 Deferred 3.5 0.1 (4.4) 18.4 14.5 14.0 Total $ 43.6 $ 41.4 $ 58.0 A reconciliation of the statutory federal income tax rate of 21% with Kennedy Wilson’s effective income tax rate is as follows: Year ended December 31, (Dollars in millions) 2020 2019 2018 Tax computed at the statutory rate $ 31.8 $ 76.1 $ 56.7 Tax deduction in excess of book compensation from restricted stock vesting 0.1 0.3 1.8 Domestic permanent differences, primarily disallowed executive compensation 7.2 6.1 3.8 Foreign permanent differences, primarily non-deductible depreciation, amortization and interest expenses in the United Kingdom 2.0 1.3 1.4 Effect of foreign tax operations on U.S. taxes, net of foreign tax credits and valuation allowance (3.7) (16.8) 1.1 Noncontrolling interests (0.9) (22.2) (15.1) State income taxes, net of federal benefit 2.9 — 8.0 Other 4.2 (3.4) 0.3 Provision for income taxes $ 43.6 $ 41.4 $ 58.0 Cumulative tax effects of temporary differences are shown below at December 31, 2020 and 2019: Year ended December 31, (Dollars in millions) 2020 2019 Deferred tax assets: Foreign currency translation $ 3.7 $ 4.9 Net operating loss carryforward and credits 137.1 138.6 Investment basis difference 91.2 96.2 Stock option expense 3.0 1.3 Hedging transactions 13.4 7.2 Lease liability 0.1 — Accrued reserves 0.6 — Total deferred tax assets 249.1 248.2 Valuation allowance (204.4) (209.2) Net deferred tax assets 44.7 39.0 Deferred tax liabilities: Investment basis and reserve differences 159.5 145.7 Depreciation and amortization 20.0 2.8 Right of use asset 0.1 — Prepaid expenses and other 2.8 2.4 Capitalized interest 1.3 1.3 Total deferred tax liabilities 183.7 152.2 Deferred tax liability, net $ (139.0) $ (113.2) The United Kingdom enacted Finance Act 2019, which introduced a new capital gain tax for non-UK resident investors who dispose of UK real estate. The new capital gain tax law became effective April 6, 2019. Beginning on this date, non-UK resident investors are subject to UK tax on gains arising from the direct and indirect dispositions of UK real estate held for investment purposes. Transitional provisions allow rebasing of UK real estate values to fair market value as of April 5, 2019 ("UK Basis Step-Up"), because only gains arising from property value increases after such date is subject to tax. The step-up led to a higher tax basis relative to the carrying value of the UK real estate, thus resulting in a UK deferred tax asset of $107.0 million. The realizability of this deferred tax asset is dependent on future disposition of real estate at a fair market value in excess of appraised value as of April 5, 2019. Given uncertainties surrounding Brexit and its potential impact on future real estate values, the Company concluded that the U.K. deferred tax asset did not meet the more likely than not threshold of being realizable and therefore, a full valuation allowance is necessary. During fiscal 2020, the valuation allowance on the UK Basis Step-Up decreased to $97.8 million due to a reduction in UK deferred tax assets arising from the sale of certain UK properties. During March 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 every 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 for its investment in KWE. As of December 31, 2018, the Company recorded a $98.3 million 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, the Company determined that a valuation allowance of $98.3 million was required for the tax basis that was in excess of the Company’s carrying value for its investment in KWE as it did not meet the more likely than not recognition threshold. During the years ended December 31, 2020 and 2019, a portion of the excess tax basis over book basis in KWE reversed as a result of lower tax gains on sales of real estate. As of December 31, 2020, Kennedy Wilson’s excess tax basis in KWE and the related valuation allowance is $66.5 million and $66.5 million, respectively. As of December 31, 2020, Kennedy Wilson had federal, California and other state net operating losses of $2.3 million and $96.5 million, and $9.3 million respectively. All of the federal net operating losses relate to tax years after December 31, 2017. The post-2017 federal net operating losses do not expire but in taxable years beginning after December 31, 2020 are only eligible to offset 80% of taxable income. California net operating losses begin to expire in 2034. As of December 31, 2020, Kennedy Wilson had $245.5 million of foreign net operating loss carryforwards, which have no expiration date. The Company has foreign tax credit carryforwards of $67.2 million, which begin to expire in 2023. The Company's valuation allowance on deferred tax assets decreased by $4.8 million in 2020 and increased by $78.1 million in 2019. The decrease in the valuation allowance during 2020 principally relates to a decrease in the deferred tax asset related to the KWE partnership investment due to lower tax gains on the sales of real estate in 2020. The increase in the 2019 valuation allowance principally relates to a valuation allowance recorded against the deferred tax asset established for the U.K. Basis Step Up. During July 2019, the IRS initiated an income tax examination of the Company’s federal consolidated tax return for the period ended December 31, 2017. Items requested by the IRS thus far are standard schedules utilized and produced during the normal course of tax return preparation. As of December 31, 2020, the Company is not aware of specific tax position under the scrutiny of the IRS. There were no gross unrecognized tax benefits at December 31, 2020 and 2019. Management has considered the likelihood and significance of possible penalties associated with Kennedy Wilson's current and intended filing positions and has determined, based on its assessment, that such penalties, if any, would not be significant. Kennedy Wilson’s federal and state income tax returns remain open to examination for the years 2017 through 2019 and 2016 through 2019, respectively. However, due to the existence of prior year loss carryovers, the IRS may examine any tax years for which the carryovers are used to offset future taxable income. Our foreign subsidiaries’ tax returns remain open to examination for the years 2016 through 2019. The Spanish loss carryovers may be subject to tax examination for a period of 10 years from the period in which such losses were generated.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Future minimum lease payments under scheduled operating and ground leases that have initial or remaining noncancelable terms in excess of one year are as follows: (Dollars in millions) Year ending December 31, 2021 $ 1.5 2022 1.5 2023 0.8 2024 0.5 2025 0.4 Thereafter 32.4 Total minimum payments $ 37.1 Rental expense was $1.0 million, $1.4 million, and $4.1 million for the years ended December 31, 2020, 2019 and 2018, respectively, and is included in general and administrative expense in the accompanying consolidated statements of income. CAPITAL COMMITMENTS—As of December 31, 2020 and 2019, the Company has unfunded capital commitments of $97.4 million and $109.2 million to its joint ventures under the respective operating agreements. In addition to the unfunded capital commitments on its joint venture investments, the Company has $155.9 million of equity commitments relating on consolidated and unconsolidated development projects. The Company may be called upon to contribute additional capital to joint ventures in satisfaction of the Company's capital commitment obligations. LITIGATION—Kennedy Wilson is currently a defendant in certain routine litigation arising in the ordinary course of business. It is the opinion of management and legal counsel that the outcome of these actions will not have a material effect on the financial statements taken as a whole.

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
STOCK COMPENSATION PLANS	STOCK COMPENSATION PLANS In July 2014, Kennedy Wilson adopted and its shareholders approved the Amended and Restated 2009 Equity Participation Plan (the "First Amended and Restated Plan") under which an additional 6.0 million shares of common stock were reserved for issuance pursuant to grants of restricted stock and other awards to officers, employees, non-employee directors and consultants. During the years ended December 31, 2016, 2015 and 2014, 1.0 million, 1.7 million and 3.3 million, respectively, of restricted common stock were granted under the First Amended and Restated Plan. The terms of the awards granted under the First Amended and Restated Plan were set by the Company's compensation committee at its discretion. The shares of restricted common stock granted under the First Amended and Restated Plan have vested or will vest, as applicable, ratably over a three four In June 2017, Kennedy Wilson adopted and its shareholders approved the Second Amended and Restated 2009 Equity Participation Plan (the "Second Amended and Restated Plan") under which an additional 3.3 million shares of common stock were reserved for issuance pursuant to grants of restricted stock and other awards to officers, employees, non-employee directors and consultants. The Second Amended and Restated Plan also allows for share recycling on net settled restricted stock awards, restricted stock unit awards, performance unit awards and performance share awards. During the years ended December 31, 2020, 2019 and 2018, the compensation committee of the board of directors approved the total grant of 2.0 million shares of performance-based restricted shares of Company common stock, 1.9 million performance-based restricted stock units and 1.4 million shares of performance-based restricted shares of Company common stock or performance-based restricted stock units covering Company common stock, respectively, subject to vesting based on the Company’s total shareholder return (the “TSR restricted awards”), performance-based restricted shares of Company common stock or performance-based restricted stock units covering Company common stock subject to vesting based on the Company’s return on equity (the “ROE awards”), and time-based restricted shares of Company common stock or time-based restricted stock units covering Company common stock (the “time-based awards”) (collectively, the “awards”), under the Second Amended and Restated Plan. Up to 100% of the TSR awards will be eligible to vest based on the Company's total shareholder return relative to the MSCI World Real Estate Index during a three-year performance period (subject to continued employment through the vesting date), with the actual number of shares subject to such TSR awards that vest and cease to be subject to restrictions with respect to the performance period determined by multiplying (i) the total number of shares subject to the TSR award by (ii) the applicable vesting percentage (which is determined based on the level of the Company's relative total shareholder return attained during the performance period). Up to one-third of the ROE awards will be eligible to vest with respect to each Company fiscal year of the performance period (each, a “performance year”) to the extent that the Company satisfies the return on equity goals for such performance year (subject to continued employment through the vesting date). One-third of the time-based awards will vest on each of the first three Upon vesting, the restricted stock granted to employees discussed directly above is net share-settled to cover the withholding tax. Shares that vested during the years ended December 31, 2020, 2019 and 2018 were net-share settled such that the Company withheld shares with values equivalent to the employees’ minimum statutory obligations for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. The total shares withheld during the years ended December 31, 2020, 2019 and 2018 were 571,983 shares, 764,909 shares, and 486,032 shares respectively, and were valued based on the Company’s closing stock price on the respective vesting dates. During the years ended December 31, 2020, 2019 and 2018, total payments for the employees’ tax obligations to the taxing authorities were $11.6 million, $16.4 million, and $8.8 million respectively. These figures are reflected as a financing activity on the accompanying consolidated statements of cash flows. During the years ended December 31, 2020, 2019 and 2018, Kennedy Wilson recognized $32.3 million, $30.2 million, and $37.1 million of compensation expense related to the vesting of restricted common stock and is included in compensation and related expense in the accompanying consolidated statements of income. The following table sets forth activity under the Amended and Restated Plan, the First Amended and Restated Plan, and the Second Amended and Restated Plan for the Company's fiscal years ending December 31, 2020, 2019 and 2018: Shares Nonvested at December 31, 2018 3,916,948 Granted 64,458 Vested (1,729,046) Forfeited — Nonvested at December 31, 2019 2,252,360 Granted 2,543,551 Vested (1,279,433) Forfeited (62,710) Nonvested at December 31, 2020 3,453,768

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
EQUITY	EQUITY Preferred Stock In October 2019, the Company announced the issuance of a $300 million perpetual preferred equity investment in Kennedy Wilson by affiliates of Eldridge Industries (collectively, "Eldridge"). Under the terms of the agreement, Eldridge purchased $300 million in convertible perpetual preferred stock carrying a 5.75% annual dividend rate, with an initial conversion price of $25.00 per share, representing a premium of 15% to the daily volume weighted average price per share of Kennedy Wilson’s common stock over the 20 trading days ending, and including, October 16, 2019. The preferred stock is callable by Kennedy Wilson on and after October 15, 2024. The convertible perpetual preferred stock is treated as permanent equity in accordance with ASC Topic 480, Distinguishing Liabilities from Equity . Common Stock Repurchase Program On March 20, 2018, the Company announced that its board of directors authorized a $250.0 million stock repurchase program. 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. On November 4, 2020, the Company's board of directors authorized an expansion of its existing $250 million share repurchase plan to $500 million. During the year ended December 31, 2020, Kennedy Wilson repurchased and retired 2,826,644 shares for $45.8 million. During the year ended December 31, 2019, Kennedy Wilson repurchased and retired 221,834 shares for $4.3 million under the previous stock repurchase program. Dividend Distributions Kennedy Wilson declared and paid the following cash dividends on its common stock: (Dollars in millions) Year Ended December 31, 2020 Year Ended December 31, 2019 Declared Paid Declared Paid Preferred Stock $ 17.2 $ 13.6 $ 2.6 $ 2.6 Common Stock (1) 125.6 126.1 121.1 114.9 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets. Taxability of Dividends Earnings and profits, which determine the taxability of distributions to stockholders, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of revenue recognition, compensation expense, derivative investments and the basis of depreciable assets and estimated useful lives used to compute depreciation. The Company's dividends related to its common stock will be classified for U.S. federal income tax purposes as follows: Record Date Payment Date Distributions Per Share Ordinary Dividends Return of Capital 12/27/2019 1/2/2020 $ 0.2200 $ 0.0597 $ 0.1603 3/31/2020 4/7/2020 0.2200 0.0597 0.1603 6/30/2020 7/9/2020 0.2200 0.0597 0.1603 9/30/2020 10/8/2020 0.2200 0.0597 0.1603 Totals $ 0.8800 $ 0.2388 $ 0.6412 Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in each component of accumulated other comprehensive income (loss) ("AOCI"), net of taxes: (Dollars in millions) Foreign Currency Translation Foreign Currency Derivative Contracts Interest Rate Swaps Total Accumulated Other Comprehensive Income (1) Balance at December 31, 2019 $ (98.3) $ 40.4 $ (0.7) $ (58.6) Unrealized (losses) gains, arising during the period 67.6 (38.0) (6.9) 22.7 Taxes on unrealized (losses) gains, arising during the period (1.2) 0.2 1.7 0.7 Amounts reclassified out of AOCI during the period, gross 0.3 — 0.7 1.0 Amounts reclassified out of AOCI during the period, taxes — — (0.2) (0.2) Noncontrolling interest (0.6) — — (0.6) Balance (of Kennedy Wilson's share) at December 31, 2020 $ (32.2) $ 2.6 $ (5.4) $ (35.0) (1) Includes $358.4 million of inception to date accumulated other comprehensive losses associated with noncontrolling interest holders of KWE that the Company was required to record as part of the KWE Transaction in October 2017. The local currencies for our interests in foreign operations include the euro and the British pound sterling. The related amounts on our balance sheets are translated into U.S. dollars at the exchange rates at the respective financial statement date, while amounts on our statements of income are translated at the average exchange rates during the respective period. Unrealized losses on foreign currency translation is a result of the weakening of the euro and British pound sterling against the U.S. dollar during the year ended December 31, 2020. 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 GBP) of certain of its wholly-owned and consolidated subsidiaries. See Note 5 for a more detailed discussion of Kennedy Wilson's currency derivative contracts.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE In accordance with ASC Topic 260-10-45, Earnings Per Share , the Company uses the two-class method to calculate earnings per share. Basic earnings per share is calculated based on dividends declared (“distributed earnings”) and the rights of common shares and participating securities in any undistributed earnings, which represents net income remaining after deduction of dividends declared during the period. Participating securities, which include unvested restricted stock, are included in the computation of earnings per share pursuant to the two-class method. The undistributed earnings are allocated to all outstanding common shares and participating securities based on the relative percentage of each security to the total number of outstanding securities. Basic earnings per common share and participating securities represent the summation of the distributed and undistributed earnings per common share and participating security divided by the total weighted average number of common shares outstanding and the total weighted average number of participating securities outstanding during the respective periods. We only present the earnings per share attributable to the common shareholders. Net losses, after deducting the dividends to participating securities, are allocated in full to the common shares since the participating security holders do not have an obligation to share in the losses, based on the contractual rights and obligations of the participating securities. The following is a summary of the elements used in calculating basic and diluted income per share for the years ended December 31, 2020, 2019 and 2018: The following table sets forth the computation of basic and diluted earnings per share: Year ended December 31, (Dollars in millions, except share amounts and per share data) 2020 2019 2018 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 92.9 $ 224.1 $ 150 Net income and dividends allocated to participating securities — (0.3) (0.9) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities 92.9 223.8 149.1 Dividends declared on common shares (125.6) (121.1) (113.0) Undistributed earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (32.7) $ 102.7 $ 36.1 Distributed earnings per share $ 0.88 $ 0.85 $ 0.78 Undistributed earnings per share (0.22) 0.75 0.26 Income per share - basic 0.66 1.60 1.04 Income per share - diluted $ 0.66 $ 1.58 $ 1.04 Weighted-average shares outstanding for basic 139,741,411 139,729,573 142,895,472 Weighted average shares outstanding for diluted 140,347,365 141,501,323 144,753,421 Dividends declared per common share $ 0.88 $ 0.85 $ 0.78 There was a total of 13,236,896, 13,133,785 and 0 during the years ended December 31, 2020, 2019 and 2018 potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive, respectively. Potentially anti-dilutive securities include preferred stock and unvested restricted stock grants.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Segment Presentation The Company evaluates its reportable segments in accordance with the guidance of ASC Topic 280, Segment Reporting . Kennedy Wilson historically presented Investments and Services as its two main operating segments. As the Company has expanded on its separate account and commingled fund platforms, it determined that the segment presentation detailed below is more indicative of how the business is being run and evaluated by the chief operating decision makers. Unconsolidated investments that had historically been part of the Investments segment and are now included in the Co-Investment Portfolio segment. The Investment Management and Property Services businesses were historically included in the Services segment. The Investment Management business is now presented in the Co-Investment Portfolio segment. This combines the equity the Company invests as well as the fees it earns from its partners on co-investments into one segment to provide a better understanding and evaluation of the total performance of these investments by the Company's chief decision makers. As the Company has grown its Consolidated Portfolio and Co-Investment Portfolio, the Property Services has had a less significant impact on the Company's results and thus Property Services is now presented in Corporate. With the sale of KWP in the fourth quarter of 2020, the Property Services is no longer part of the Company's results. Segments The Company's operations are defined by two business segments: its Consolidated investment portfolio (the "Consolidated Portfolio") and its Co-Investment Portfolio: • Consolidated Portfolio consists of the investments that the Company has made in real estate and real estate-related assets and consolidates on its balance sheet. The Company typically wholly-owns the assets in its Consolidated Portfolio. • Co-Investment Portfolio consists of (i) the co-investments that the Company has made in real estate and real estate-related assets, including loans secured by real estate, through the commingled funds and joint ventures that it manages; and (ii) the fees (including, without limitation, asset management fees, construction management fees and performance fees) that it earns on its fee bearing capital. The Company typically owns a 5-50% ownership interest in the assets in its Co-investment Portfolio. In addition to the Company's two primary business segments the Company's Corporate segment includes, among other things, corporate overhead and Property Services for all periods prior to its sale in the fourth quarter 2020. Consolidated Portfolio Consolidated Portfolio is a permanent capital vehicle focused on maximizing property cash flow. These assets are primarily wholly-owned and tend to have longer hold periods and the Company targets investments with accretive asset management opportunities. The Company typically focuses on office and multifamily assets in the Western United States and commercial assets in the United Kingdom and Ireland within this segment. Co-Investment Portfolio Co-investment Portfolio segment consists of investments the Company makes with partners in which it receives (i) fees for managing its partners equity and (ii) rental income from its co-investments in these assets. The Company utilizes different platforms in the Co-investment Portfolio segment depending on the asset and risk return profiles. During the year ended December 31, 2020, the Company deconsolidated its investment in KW Europe Fund II as the Company no longer held a controlling financial interest in it. Amounts for KW Europe Fund II are in the Consolidated Portfolio segment in the prior period and in the Co-Investment Portfolio segment for the current period. No single third-party client accounted for 10% or more of Kennedy Wilson's revenue during any period presented in these financial statements. The following tables summarize the income and expense activity by segment for the years ended December 31, 2020, 2019 and 2018 and total assets as of December 31, 2020 and 2019. Year Ended December 31, 2020 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 403.9 $ — $ — $ 403.9 Hotel 13.9 — — 13.9 Investment management, property services and research fees — 22.5 10.6 33.1 Total revenue 417.8 22.5 10.6 450.9 Expenses Rental 135.7 — — 135.7 Hotel 13.8 — — 13.8 Commission and marketing — — 2.8 2.8 Compensation and related 59.7 21.0 63.7 144.4 General and administrative 20.6 5.9 8.1 34.6 Depreciation and amortization 179.6 — — 179.6 Total expenses 409.4 26.9 74.6 510.9 Income from unconsolidated investments, net of depreciation and amortization — 81.0 — 81.0 Gain on sale of real estate, net 338.0 — — 338.0 Transaction-related expenses (0.9) — — (0.9) Interest expense (141.7) — (69.5) (211.2) Other (loss) income (0.6) — 5.1 4.5 Provision for income taxes (18.4) — (25.2) (43.6) Net income (loss) 184.8 76.6 (153.6) 107.8 Net loss attributable to noncontrolling interests 2.3 — — 2.3 Preferred dividends and accretion of preferred stock issuance costs — — (17.2) (17.2) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 187.1 $ 76.6 $ (170.8) $ 92.9 Year Ended December 31, 2019 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 447.4 $ — $ — $ 447.4 Hotel 80.5 — — 80.5 Sale of real estate 1.1 — — 1.1 Investment management, property services and research fees — 24.9 15.8 40.7 Total revenue 529.0 24.9 15.8 569.7 Expenses Rental 152.9 — — 152.9 Hotel 60.1 — — 60.1 Cost of real estate sold 1.2 — — 1.2 Commission and marketing — — 3.8 3.8 Compensation and related 71.0 15.1 65.7 151.8 General and administrative 26.3 5.6 10.5 42.4 Depreciation and amortization 187.6 — — 187.6 Total expenses 499.1 20.7 80.0 599.8 Income from unconsolidated investments, net of depreciation and amortization — 179.7 — 179.7 Gain on sale of real estate, net 434.4 — — 434.4 Transaction-related expenses (6.8) — — (6.8) Interest expense (145.6) — (69.5) (215.1) Other income 2.8 — (2.4) 0.4 Provision for from income taxes (14.5) — (26.9) (41.4) Net income (loss) 300.2 183.9 (163.0) 321.1 Net income attributable to noncontrolling interests (94.4) — — (94.4) Preferred dividends and accretion of preferred stock issuance costs — — (2.6) (2.6) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 205.8 $ 183.9 $ (165.6) $ 224.1 Year Ended December 31, 2018 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 514.6 $ — $ — $ 514.6 Hotel 155.7 — — 155.7 Sale of real estate 56.8 — — 56.8 Investment management, property services and research fees — 15.4 29.9 45.3 Total revenue 727.1 15.4 29.9 772.4 Expenses Rental 160.8 — — 160.8 Hotel 121.5 — — 121.5 Cost of real estate sold 52.5 — — 52.5 Commission and marketing — — 5.9 5.9 Compensation and related 64.7 20.5 83.6 168.8 General and administrative 28.1 7.5 15.2 50.8 Depreciation and amortization 206.1 — — 206.1 Total expenses 633.7 28.0 104.7 766.4 Income from unconsolidated investments, net of depreciation and amortization — 78.7 — 78.7 Gain on sale of real estate, net 371.8 — — 371.8 Gain on sale of business — — 40.4 40.4 Transaction-related expenses (1.7) — — (1.7) Interest expense (161.0) — (77.2) (238.2) Other income 0.7 — 12.4 13.1 Provision for income taxes (14.0) — (44.0) (58.0) Net income (loss) 289.2 66.1 (143.2) 212.1 Net income attributable to noncontrolling interests (62.1) — — (62.1) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 227.1 $ 66.1 $ (143.2) $ 150.0 December 31, (Dollars in millions) 2020 2019 Assets Consolidated $ 5,562.4 $ 5,679.7 Co-investment 1,396.4 1,326.5 Corporate 370.2 298.3 Total assets $ 7,329.0 $ 7,304.5 December 31, (Dollars in millions) 2020 2019 2018 Expenditures for long lived assets Investments $ (264.2) $ (402.0) $ (571.8) Geographic Information The revenue shown in the table below is allocated based upon the region in which services are performed. Year Ended December 31, (Dollars in millions) 2020 2019 2018 United States $ 274.2 $ 275.7 $ 327.7 Europe 176.7 294.0 444.7 Total revenue $ 450.9 $ 569.7 $ 772.4

GUARANTOR AND NON-GUARANTOR FIN

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2020
Guarantor and Nonguarantor Financial Statements [Abstract]
GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS	GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS The following consolidating financial information and condensed consolidating financial information includes: (1) Condensed consolidating balance sheets as of December 31, 2020 and 2019, respectively; consolidating statements of income and comprehensive (loss) income for the years ended December 31, 2020, 2019 and 2018, respectively; and condensed consolidating statements of cash flows for the years ended December 31, 2020, 2019 and 2018, respectively, of (a) Kennedy-Wilson Holdings, Inc. on an unconsolidated basis as the parent (and guarantor), (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 guarantor, 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 December 31, 2020 or 2019 and for the years ended December 31, 2020, 2019 or 2018. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2020 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 105.5 $ 174.5 $ 685.1 $ — $ 965.1 Accounts receivable — 0.2 15.5 32.2 — 47.9 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 2,009.7 2,710.8 — 4,720.5 Unconsolidated investments — 15.1 459.4 814.8 — 1,289.3 Investments in and advances to consolidated subsidiaries 1,686.5 3,173.4 1,768.4 — (6,628.3) — Other assets — 10.3 69.3 226.6 — 306.2 Total assets $ 1,686.5 $ 3,304.5 $ 4,496.8 $ 4,469.5 $ (6,628.3) $ 7,329.0 Liabilities Accounts Payable — 0.2 1.9 28.0 — 30.1 Accrued expenses and other liabilities 42.0 285.6 49.6 154.5 — 531.7 Mortgage debt — — 1,271.9 1,317.9 — 2,589.8 KW unsecured debt — 1,332.2 — — — 1,332.2 KWE unsecured bonds — — — 1,172.5 1,172.5 Total liabilities 42.0 1,618.0 1,323.4 2,672.9 — 5,656.3 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,644.5 1,686.5 3,173.4 1,768.4 (6,628.3) 1,644.5 Noncontrolling interests — — — 28.2 — 28.2 Total equity 1,644.5 1,686.5 3,173.4 1,796.6 (6,628.3) 1,672.7 Total liabilities and equity $ 1,686.5 $ 3,304.5 $ 4,496.8 $ 4,469.5 $ (6,628.3) $ 7,329.0 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2019 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ 30.8 $ 6.4 $ 102.7 $ 434.0 $ — $ 573.9 Accounts receivable — — 13.9 38.2 — 52.1 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 2,052.3 3,027.9 — 5,080.2 Unconsolidated investments — 18.2 526.0 782.3 — 1,326.5 Investments in and advances to consolidated subsidiaries 1,682.3 3,037.5 1,660.5 — (6,380.3) — Other assets — — 61.1 210.7 — 271.8 Total assets $ 1,713.1 $ 3,062.1 $ 4,416.5 $ 4,493.1 $ (6,380.3) $ 7,304.5 Liabilities Accounts Payable $ — $ 0.9 $ 3.4 $ 16.1 $ — $ 20.4 Accrued expenses and other liabilities 34.4 247.2 59.7 176.7 — 518.0 Mortgage debt — — 1,315.9 1,325.1 — 2,641.0 KW unsecured debt — 1,131.7 — — — 1,131.7 KWE unsecured bonds — — — 1,274.2 — 1,274.2 Total liabilities 34.4 1,379.8 1,379.0 2,792.1 — 5,585.3 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,678.7 1,682.3 3,037.5 1,660.5 (6,380.3) 1,678.7 Noncontrolling interests — — — 40.5 40.5 Total equity 1,678.7 1,682.3 3,037.5 1,701.0 (6,380.3) 1,719.2 Total liabilities and equity $ 1,713.1 $ 3,062.1 $ 4,416.5 $ 4,493.1 $ (6,380.3) $ 7,304.5 CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2020 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 190.1 $ 213.8 $ — $ 403.9 Hotel — — — 13.9 — 13.9 Investment management, property services, and research fees — — 28.5 4.6 — 33.1 Total revenue — — 218.6 232.3 — 450.9 Expenses Rental — — 72.5 63.2 — 135.7 Hotel — — — 13.8 — 13.8 Commission and marketing — — 2.8 — — 2.8 Compensation and related 33.5 68.0 37.4 5.5 — 144.4 General and administrative — 17.2 11.2 6.2 — 34.6 Depreciation and amortization — 1.5 79.9 98.2 — 179.6 Total expenses 33.5 86.7 203.8 186.9 — 510.9 Income from unconsolidated investments, net of depreciation and amortization — 0.6 (0.6) 81.0 — 81.0 Income from consolidated subsidiaries 141.3 320.1 294.0 — (755.4) — Gain on sale of real estate, net — — 65.9 272.1 — 338.0 Transaction-related expenses — (0.2) (0.3) (0.4) — (0.9) Interest expense — (69.5) (52.3) (89.4) — (211.2) Other income — 2.2 (0.7) 3.0 — 4.5 Income before provision from income taxes 107.8 166.5 320.8 311.7 (755.4) 151.4 Provision for income taxes — (25.2) (0.7) (17.7) — (43.6) Net income 107.8 141.3 320.1 294.0 (755.4) 107.8 Net loss attributable to the noncontrolling interests — — — 2.3 — 2.3 Preferred dividends and accretion of preferred stock issuance costs (17.2) — — — — (17.2) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 90.6 $ 141.3 $ 320.1 $ 296.3 $ (755.4) $ 92.9 CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2019 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 173.6 $ 273.8 $ — $ 447.4 Hotel — — — 80.5 — 80.5 Sale of real estate — — — 1.1 — 1.1 Investment management, property services, and research fees — 0.8 36.6 3.3 — 40.7 Total revenue — 0.8 210.2 358.7 — 569.7 Expenses Rental — — 64.3 88.6 — 152.9 Hotel — — — 60.1 — 60.1 Cost of real estate sold — — — 1.2 — 1.2 Commission and marketing — — 3.8 — — 3.8 Compensation and related 31.8 75.0 39.2 5.8 — 151.8 General and administrative — 19.8 15.9 6.7 — 42.4 Depreciation and amortization — 1.1 62.5 124.0 — 187.6 Total expenses 31.8 95.9 185.7 286.4 — 599.8 Income from unconsolidated investments — 0.1 83.3 96.3 — 179.7 Income from consolidated subsidiaries 352.8 547.7 479.8 — (1,380.3) — Gain on sale of real estate, net — — 8.2 426.2 — 434.4 Transaction-related expenses — (3.1) (0.2) (3.5) — (6.8) Interest expense — (69.5) (49.2) (96.4) — (215.1) Other income (loss) 0.1 (0.3) 0.2 0.4 — 0.4 Income before (provision for) benefit from income taxes 321.1 379.8 546.6 495.3 (1,380.3) 362.5 (Provision for) benefit from income taxes — (26.9) 1.1 (15.6) — (41.4) Net income 321.1 352.9 547.7 479.7 (1,380.3) 321.1 Net income attributable to the noncontrolling interests — — — (94.4) — (94.4) Preferred dividends and accretion of preferred stock issuance costs (2.6) — — — — (2.6) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 318.5 $ 352.9 $ 547.7 $ 385.3 $ (1,380.3) $ 224.1 CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2018 ( Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries (1) Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 168.4 $ 346.2 $ — $ 514.6 Hotel — — — 155.7 — 155.7 Sale of real estate — — — 56.8 — 56.8 Investment management, property services, and research fees — — 41.9 3.4 — 45.3 Total revenue — — 210.3 562.1 — 772.4 Expenses Rental — — 62.3 98.5 — 160.8 Hotel — — — 121.5 — 121.5 Cost of real estate sold — — — 52.5 — 52.5 Commission and marketing — — 5.9 — — 5.9 Compensation and related 37.1 71.3 55.1 5.3 — 168.8 General and administrative — 20.3 21.2 9.3 — 50.8 Depreciation and amortization — 1.3 56.9 147.9 — 206.1 Total expenses 37.1 92.9 201.4 435.0 — 766.4 Income from unconsolidated investments — (1.3) 60.3 19.7 — 78.7 Income from consolidated subsidiaries 249.2 451.3 332.7 — (1,033.2) — Gain on sale of real estate, net — — 61.4 310.4 — 371.8 Gain on sale of business — — 40.4 — — 40.4 Transaction-related expenses — (0.1) (1.1) (0.5) — (1.7) Interest expense — (77.1) (52.8) (108.3) — (238.2) Other income (loss) — 13.3 0.1 (0.3) — 13.1 Income (loss) before (provision for) benefit from income taxes 212.1 293.2 449.9 348.1 (1,033.2) 270.1 (Provision for) benefit from income taxes — (44.0) 1.4 (15.4) — (58.0) Net income 212.1 249.2 451.3 332.7 (1,033.2) 212.1 Net income attributable to the noncontrolling interests — — — (62.1) — (62.1) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 212.1 $ 249.2 $ 451.3 $ 270.6 $ (1,033.2) $ 150.0 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2020 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 107.8 $ 141.3 $ 320.1 $ 294.0 $ (755.4) $ 107.8 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation gain (loss) 66.5 66.5 (3.5) 65.0 (128.0) 66.5 Amounts reclassified from accumulated other comprehensive income 0.8 0.8 — 0.2 (1.0) 0.8 Unrealized forward contract forward currency (loss) gain (37.8) (37.8) 5.0 (42.8) 75.6 (37.8) Unrealized loss on interest rate swaps (5.3) (5.3) — — 5.3 (5.3) Total other comprehensive income for the period $ 24.2 $ 24.2 $ 1.5 $ 22.4 $ (48.1) $ 24.2 Comprehensive income $ 132.0 $ 165.5 $ 321.6 $ 316.4 $ (803.5) $ 132.0 Comprehensive income attributable to noncontrolling interests — — — 1.7 — 1.7 Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 132.0 $ 165.5 $ 321.6 $ 318.1 $ (803.5) $ 133.7 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2019 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 321.1 $ 352.9 $ 547.7 $ 479.7 $ (1,380.3) $ 321.1 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation loss (13.3) (13.3) 16.1 (4.7) 1.9 (13.3) Amounts reclassified from accumulated other comprehensive income 10.4 10.4 — 10.4 (20.8) 10.4 Unrealized forward contract forward currency gain (loss) 38.7 38.7 (15.4) 54.1 (77.4) 38.7 Unrealized loss on interest rate swaps (0.7) (0.7) — — 0.7 (0.7) Total other comprehensive income for the period 35.1 35.1 0.7 59.8 (95.6) 35.1 Comprehensive income $ 356.2 $ 388.0 $ 548.4 $ 539.5 $ (1,475.9) $ 356.2 Comprehensive income attributable to noncontrolling interests — — — (105.0) — (105.0) Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 356.2 $ 388.0 $ 548.4 $ 434.5 $ (1,475.9) $ 251.2 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 212.1 $ 249.2 $ 451.3 $ 332.7 $ (1,033.2) $ 212.1 Other comprehensive loss, net of tax: Unrealized foreign currency translation loss (62.6) (62.6) (45.7) (61.6) 169.9 (62.6) Amounts reclassified from accumulated other comprehensive income 13.2 13.2 — 18.3 (31.5) 13.2 Unrealized forward contract forward currency gain (loss) 38.3 38.3 46.1 (7.8) (76.6) 38.3 Total other comprehensive loss for the period (11.1) (11.1) 0.4 (51.1) 61.8 (11.1) Comprehensive income $ 201.0 $ 238.1 $ 451.7 $ 281.6 $ (971.4) $ 201.0 Comprehensive income attributable to noncontrolling interests — — — (65.4) — (65.4) Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 201.0 $ 238.1 $ 451.7 $ 216.2 $ (971.4) $ 135.6 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2020 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided by (used in) operating activities $ 3.4 $ (136.9) $ 14.4 $ 106.5 $ (12.6) Cash flows from investing activities: Proceeds from collection of loans — — — 34.1 34.1 Issuance of loans — (7.6) — (81.0) (88.6) Investment in marketable securities (12.1) — — (12.1) Proceeds from sale of marketable securities — 10.2 — — 10.2 Net proceeds from sale of consolidated real estate — — 167.5 660.3 827.8 Purchases of consolidated real estate — — (28.0) (42.1) (70.1) Capital expenditures to real estate — — (59.1) (135.0) (194.1) Investing distributions from unconsolidated investments — 4.0 44.1 129.4 177.5 Contributions to unconsolidated investments — (0.1) (19.2) (92.3) (111.6) Proceeds from settlement of foreign currency derivative contracts — — 15.5 — 15.5 Proceeds from development project asset — — — 2.2 2.2 Distributions from (investments in) consolidated subsidiaries, net 162.9 45.9 2.7 (211.5) — Net cash (used in) provided by investing activities 162.9 40.3 123.5 264.1 590.8 Cash flow from financing activities: Borrowings under line of credit/term loan — 200.0 — — 200.0 Borrowings under mortgage debt — — 84.0 212.4 296.4 Repayment of mortgage debt — — (149.3) (337.8) (487.1) Payment of loan fees — (4.3) (0.8) (0.5) (5.6) Borrowings (repayment) of shareholder loans to noncontrolling interests — — — 1.2 1.2 Repurchase of common stock (57.4) — — — (57.4) Common stock dividends paid (126.1) — — — (126.1) Preferred stock dividends paid (13.6) — — — (13.6) Contributions from noncontrolling interests — — — 4.5 4.5 Distributions to noncontrolling interests — — — (18.9) (18.9) Net cash (used in) provided by financing activities (197.1) 195.7 (66.1) (139.1) (206.6) Effect of currency exchange rate changes on cash and cash equivalents — — — 19.6 19.6 Net change in cash and cash equivalents (30.8) 99.1 71.8 251.1 391.2 Cash and cash equivalents, beginning of year 30.8 6.4 102.7 434.0 573.9 Cash and cash equivalents, end of year $ — $ 105.5 $ 174.5 $ 685.1 $ 965.1 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2019 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ (3.7) $ (130.4) $ 24.1 $ 90.5 $ (19.5) Cash flows from investing activities: Issuance of loans — — (2.3) (0.4) (2.7) Collections of loans — — 0.6 — 0.6 Net proceeds from sale of real estate — — 27.6 673.4 701.0 Purchases of and additions to real estate — — (97.5) (113.4) (210.9) Capital expenditures to real estate — — (59.8) (131.3) (191.1) Investing distributions from unconsolidated investments — 0.8 80.6 33.6 115.0 Contributions to unconsolidated investments — (1.7) (153.9) (110.4) (266.0) Proceeds from settlement of foreign currency derivative contracts — — 33.4 — 33.4 Additions to development project asset — — — (1.2) (1.2) Proceeds from development project asset — — — 4.2 4.2 (Investments in) distributions from consolidated subsidiaries, net (122.5) 210.8 160.3 (248.6) — Net cash (used in) provided by investing activities (122.5) 209.9 (11.0) 105.9 182.3 Cash flow from financing activities: Borrowings under line of credit/term loan — 125.0 — — 125.0 Repayment of line of credit/term loan — (200.0) — — (200.0) Borrowings under mortgage debt — — 3.5 485.1 488.6 Repayment of mortgage debt — — (15.0) (376.4) (391.4) Payment of loan fees — — (0.8) (4.0) (4.8) Repayment of shareholder loans to noncontrolling interests — — — (11.2) (11.2) Repurchase of common stock (20.7) — — — (20.7) Issuance of preferred stock 295.2 — — — 295.2 Common stock dividends paid (114.9) — — — (114.9) Preferred stock dividends paid (2.6) — — — (2.6) Contributions from noncontrolling interests — — — 15.0 15.0 Distributions to noncontrolling interests — — — (264.0) (264.0) Net cash provided by (used in) financing activities 157.0 (75.0) (12.3) (155.5) (85.8) Effect of currency exchange rate changes on cash and cash equivalents — — — 8.9 8.9 Net change in cash and cash equivalents 30.8 4.5 0.8 49.8 85.9 Cash and cash equivalents, beginning of year — 1.9 101.9 384.2 488.0 Cash and cash equivalents, end of year $ 30.8 $ 6.4 $ 102.7 $ 434.0 $ 573.9 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2018 ( Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities: $ (1.2) $ (133.7) $ 66.3 $ 161.7 $ 93.1 Cash flows from investing activities: Additions to loans — — (0.9) (1.3) (2.2) Collections of loans — — 5.8 — 5.8 Nonrefundable escrow deposits — (5.0) — — (5.0) Net proceeds from sale of real estate — — 161.2 1,224.9 1,386.1 Net proceeds from sale of a business — — 43.4 — 43.4 Purchases of and additions to real estate — — (242.3) (113.5) (355.8) Capital expenditures to real estate — — (27.9) (188.1) (216.0) Investment in marketable securities — (0.2) — — (0.2) Proceeds from sale of marketable securities — — 7.4 — 7.4 Investing distributions from unconsolidated investments — — 25.9 37.8 63.7 Contributions to unconsolidated investments — (1.2) (92.9) (302.0) (396.1) Proceeds from settlement of foreign currency derivative contracts — 10.7 — — 10.7 Purchases of foreign currency derivative contracts — (0.6) — — (0.6) Additions to development project asset — — — (29.1) (29.1) Proceeds from development project asset — — — 81.0 81.0 Distributions from (investments in) consolidated subsidiaries, net 290.3 81.4 55.8 (427.5) — Net cash (used in) provided by investing activities 290.3 85.1 (64.5) 282.2 593.1 Cash flow from financing activities: Borrowings under senior notes payable — 246.6 — — 246.6 Borrowings under lines of credit/term loan — 225.0 — — 225.0 Repayment of lines of credit/term loan — (450.0) — — (450.0) Borrowings under mortgage debt — — 325.3 399.7 725.0 Repayment of mortgage debt — — (278.1) (588.7) (866.8) Debt issue costs — (4.5) (2.0) (3.0) (9.5) Repurchase of common stock (177.9) — — — (177.9) Dividends paid (111.2) — — — (111.2) KWE closing dividend — — — (17.2) (17.2) Contributions from noncontrolling interests — — — 23.2 23.2 Distributions to noncontrolling interests — — — (116.0) (116.0) Net cash provided by (used in) financing activities (289.1) 17.1 45.2 (302.0) (528.8) Effect of currency exchange rate changes on cash and cash equivalents — — — (20.7) (20.7) Net change in cash and cash equivalents — (31.5) 47.0 121.2 136.7 Cash and cash equivalents, beginning of year — 33.4 54.9 263.0 351.3 Cash and cash equivalents, end of year $ — $ 1.9 $ 101.9 $ 384.2 $ 488.0

UNAUDITED QUARTERLY INFORMATION

UNAUDITED QUARTERLY INFORMATION	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
UNAUDITED QUARTERLY INFORMATION	UNAUDITED QUARTERLY INFORMATION (Dollars in millions, except earnings per share amounts) Year ended December 31, 2020 Fourth Third Second First Revenues $ 106.5 $ 114.2 $ 106.9 $ 123.3 Expenses 149.0 116.3 115.8 129.8 Other income (expenses) (1) 268.9 (30.4) (33.4) 6.3 Income (loss) before provision for income taxes 226.4 (32.5) (42.3) (0.2) (Provision for) benefit from income taxes (53.9) 12.8 3.2 (5.7) Net income (loss) 172.5 (19.7) (39.1) (5.9) Net income (loss) attributable to noncontrolling interests 1.8 (1.1) 1.3 0.3 Preferred dividends and accretion of preferred stock issuance costs $ (4.3) $ (4.3) $ (4.3) $ (4.3) Net income (loss) attributable to Kennedy-Wilson $ 170.0 $ (25.1) $ (42.1) $ (9.9) Basic earnings (loss) per share $ 1.23 $ (0.18) $ (0.30) $ (0.07) Diluted earnings (loss) per share $ 1.21 $ (0.18) $ (0.30) $ (0.07) (1) The fourth quarter of 2020 includes $287.0 million of gain on sale of real estate, net relating to the sale of Baggot Plaza, Club Palisades and the sale of assets to the Industrial JV. (Dollars in millions, except earnings per share amounts) Year ended December 31, 2019 Fourth Third Second First Revenues $ 142.3 $ 143.0 $ 143.7 $ 140.7 Expenses 155.0 147.9 143.8 153.1 Other income (1) 177.9 34.5 162.2 18.0 Income before provision for income taxes 165.2 29.6 162.1 5.6 Provision for income taxes (6.3) (10.2) (20.9) (4.0) Net income 158.9 19.4 141.2 1.6 Net loss (income) attributable to noncontrolling interests 1.6 1.3 (90.4) (6.9) Preferred dividends and accretion of preferred stock issuance costs $ (2.6) $ — $ — $ — Net income (loss) attributable to Kennedy-Wilson $ 157.9 $ 20.7 $ 50.8 $ (5.3) Basic earnings (loss) per share $ 1.13 $ 0.15 $ 0.36 $ (0.04) Diluted earnings (loss) per share $ 1.12 $ 0.15 $ 0.36 $ (0.04) (1)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 11, 2021, Kennedy-Wilson, Inc., issued $500.0 million aggregate principal amount of 4.750% senior notes due 2029 (the “2029 notes”) and $500.0 million aggregate principal amount of 5.000% senior notes due 2031 (the “2031 notes” and, together with the 2029 notes, the “notes”). The notes will be senior, unsecured obligations of Kennedy Wilson and will be guaranteed by Kennedy-Wilson Holdings, Inc. and certain subsidiaries of Kennedy Wilson. The net proceeds from the issuance and sale of the notes was approximately $987.5 million, after deducting underwriting discounts and commissions and estimated offering expenses. The notes accrue interest at a rate of 4.750% (in the case of the 2029 notes) and 5.000% (in the case of the 2031 notes) per annum, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2021. The notes will mature on March 1, 2029 (in the case of the 2029 notes) and March 1, 2031 (in the case of the 2031 notes), in each case unless earlier repurchased or redeemed. At any time prior to March 1, 2024 (in the case of the 2029 notes) or March 1, 2026 (in the case of the 2031 notes), Kennedy Wilson may redeem the notes of the applicable series, in whole or in part, at a redemption price equal to 100% of their principal amount, plus an applicable “make-whole” premium and accrued and unpaid interest, if any, to the redemption date. At any time and from time to time on or after March 1, 2024 (in the case of the 2029 notes) or March 1, 2026 (in the case of the 2031 notes), Kennedy Wilson may redeem the notes of the applicable series, in whole or in part, at specified redemption prices set forth in the indenture governing the notes of the applicable series, plus accrued and unpaid interest, if any, to the redemption date. In addition, prior to March 1, 2024, Kennedy Wilson may redeem up to 40% of the notes of either series from the proceeds of certain equity offerings. No sinking fund will be provided for the notes. Upon the occurrence of certain change of control or termination of trading events, holders of the notes may require Kennedy Wilson to repurchase their notes for cash equal to 101% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. On January 27, 2021 the Company announced a tender offer for up to $1.0 billion aggregate principal amount of outstanding 2024 Notes. On February 9, 2021, $576.5 million aggregate principal amount of the 2024 Notes had been validly tendered and not validly withdrawn. Kennedy Wilson intends to redeem an aggregate principal amount of 2024 notes that will cause the total principal amount of 2024 notes purchased in the tender offer or redeemed to be at least $1.0 billion. With the tender premium, intention to redeem remaining 2024 Notes up to $1.0 billion and the write off of previously capitalized loan fees associated with the 2024 Notes the Company will recognize approximately $30 million of interest expense in 2021 associated with bond refinancing transactions in the event that the Company purchases and redeems a total of $1.0 billion of the 2024 Notes. On February 17, 2021 the Company repaid $100.0 million on its revolving line of credit and currently has an outstanding balance of $100.0 million and has $400.0 million available to draw.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Kennedy-Wilson Holdings, Inc. Schedule III—Real Estate and Accumulated Depreciation December 31, 2020 (Dollars in millions) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Balance at December 31, 2020 (1) Description Region Encumbrances Land Building & Improvements Improvements Land Building & Improvements Total (2) Accumulated Depreciation Depreciable Life in Years Date of Construction Date Acquired (3) Commercial Office Southern California $ 35.0 $ 11.2 $ 18.5 $ 34.6 $ 11.5 $ 54.1 $ 65.6 $ (7.5) 39 years 1955/1981/1982 2013 Retail Mountain States 1.2 0.5 1.2 0.4 0.5 1.6 2.1 (0.3) 39 years 1981 2013 Retail Mountain States 10.0 2.1 2.9 1.8 1.8 4.7 6.5 (0.6) 39 years 1958/1974-1976/1985/1989/2006 2013 Retail Mountain States 4.2 2.6 5.6 1.2 2.6 6.8 9.4 (1.1) 39 years 1980/1983 2013 Retail Southern California 27.0 9.1 14.0 11.9 9.1 25.9 35.0 (3.5) 39 years 1985 2014 Commercial portfolio United Kingdom — 16.8 24.2 13.3 3.1 47.8 50.9 (7.8) 39 years Various 2014 Commercial portfolio United Kingdom 100.1 78.5 289.0 33.8 56.7 259.7 316.4 (46.5) 39 years Various 2014 Office Ireland — 2.0 4.4 — 1.5 6.1 7.6 (1.0) 39 years Various 2014 Office Ireland 86.0 8.2 102.6 — 7.3 92.1 99.4 (15.0) 39 years 2003 2014 Retail Ireland 106.4 59.8 83.1 27.8 53.7 102.4 156.1 (12.4) 39 years 1966/2005 2014 Office Ireland 83.8 20.4 73.8 5.8 18.3 72.0 90.3 (13.1) 39 years 1980 2014 Office United Kingdom — 85.3 232.0 25.3 83.6 225.5 309.1 (46.0) 39 years 2003 2014 Retail United Kingdom 72.5 6.2 109.5 7.2 5.1 97.3 102.4 (16.1) 39 years 2010 2014 Office Southern California 22.5 37.8 60.6 17.7 37.8 78.3 116.1 (12.0) 39 years 1982 2015 Office Southern California 28.8 11.6 36.5 4.6 11.6 41.1 52.7 (7.8) 39 years 1968 2015 Office Southern California 35.0 20.7 47.9 25.9 20.7 53.6 74.3 (8.4) 39 years 1982 2015 Commercial portfolio United Kingdom 187.1 128.4 216.4 8.0 107.0 187.5 294.5 (27.9) 39 years Various 2015 Office portfolio United Kingdom — 28.1 58.6 22.4 31.5 66.2 97.7 (6.9) 39 years Various 2015 Retail portfolio Spain — 1.8 5.0 — 1.9 5.5 7.4 (0.7) 39 years Various 2015 Retail Spain 43.6 27.1 46.2 13.9 32.4 69.2 101.6 (8.6) 39 years 1995 2015 Office portfolio Italy — 26.3 74.8 0.7 35.4 101.0 136.4 (12.6) 39 years Various 2015 Retail Mountain States 6.7 2.6 9.5 3.9 2.6 13.4 16.0 (1.2) 39 years 1961 2016 Office building Ireland — 2.0 11.9 0.2 2.2 13.4 15.6 (1.5) 39 years 2007 2016 Retail Mountain States 27.5 9.0 29.9 1.1 9.0 31.0 40.0 (3.4) 39 years 1984/2008 2016 Office portfolio United Kingdom 69.9 32.1 70.4 2.0 30.2 68.3 98.5 (8.2) 39 years Various 2016 Office Ireland — 4.2 64.0 2.0 4.5 69.9 74.4 (8.1) 39 years 2009 2016 Retail Mountain States 3.7 1.2 5.4 0.5 1.2 5.9 7.1 (0.6) 39 years 1995/1996 2016 Retail Pacific Northwest 5.3 2.3 8.1 1.5 2.2 9.2 11.4 (0.7) 39 years 1956 2017 Office Pacific Northwest 77.0 30.6 106.0 3.2 30.6 109.2 139.8 (9.8) 39 years 1999/2001 2017 Retail Mountain States 12.0 4.1 12.2 0.2 4.1 12.9 17.0 (1.1) 39 years 1967/1983 2017 Office Ireland — 4.9 18.5 7.9 5.0 27.1 32.1 (1.7) 39 years 1841 2017 Office Ireland 26.2 11.0 — 43.3 11.5 43.3 54.8 — 39 years 1840/2000 2017 Office Southern California 17.8 27.4 6.9 5.7 27.4 12.6 40.0 (0.3) 39 years 1956 2018 Office Northern California 61.4 23.5 57.3 0.3 23.5 57.6 81.1 (1.7) 39 years 2000 2019 Industrial United Kingdom — — 41.3 — — 41.3 41.3 — 39 years 2006/2007 2020 Multifamily 450-unit asset Mountain States 44.1 18.4 43.0 7.8 18.4 52.1 70.5 (13.7) 39 years 1974 2013 178-unit asset Northern California 31.4 12.3 18.5 9.4 12.3 28.9 41.2 (10.5) 39 years 1975 2012 217-unit asset Pacific Northwest 22.2 2.6 41.4 3.9 2.5 43.0 45.5 (10.7) 39 years 2011 2012 366-unit asset Mountain States 52.6 9.1 36.3 11.3 9.1 47.6 56.7 (15.8) 39 years 2000 2012 203-unit asset Pacific Northwest 19.5 2.6 23.8 2.7 2.6 27.2 29.8 (5.9) 39 years 2005 2014 542-unit asset Northern California 89.2 38.3 57.5 10.8 38.3 68.9 107.2 (16.1) 39 years 1987 2014 324-unit asset Mountain States 24.8 3.2 28.6 7.5 3.2 36.0 39.2 (8.6) 39 years 1996 2014 280-unit asset Pacific Northwest 36.6 6.0 40.3 2.7 6.0 43.0 49.0 (7.8) 39 years 2004/2006 2014 Condo Pacific Northwest — — 0.2 — — 1.0 1.0 (0.1) 39 years 2005 2014 208-unit asset Southern California 37.3 9.3 37.3 5.7 9.3 43.0 52.3 (8.5) 39 years 2004 2015 1,008-unit asset Northern California 175.0 62.3 152.5 21.1 62.3 173.6 235.9 (31.3) 39 years 1988 2015 460-unit asset Southern California 46.7 13.2 53.0 5.1 13.2 58.1 71.3 (9.9) 39 years 1988 2015 204-unit asset Mountain States 14.3 2.0 17.6 3.0 2.0 20.6 22.6 (3.2) 39 years 1999 2016 168-unit asset Mountain States 10.9 1.8 13.1 2.7 1.8 15.7 17.5 (2.6) 39 years 1992 2016 430-unit asset Pacific Northwest 62.6 12.8 67.4 4.0 12.8 71.3 84.1 (9.1) 39 years 2006 2016 386-unit asset Southern California 66.0 — 81.4 8.3 — 89.8 89.8 (11.6) 39 years 2002 2016 157-unit asset Southern California 42.9 14.5 46.0 1.3 14.5 47.3 61.8 (5.6) 39 years 2013 2016 Land Southern California — 0.6 — — 3.8 — 3.8 — 39 years N/A 2018 408-unit asset Pacific Northwest 60.4 9.3 83.3 4.1 9.3 87.4 96.7 (10.4) 39 years 1998 2016 300-unit asset Mountain States 39.0 4.8 29.2 4.8 4.8 34.1 38.9 (3.6) 39 years 1995 2017 210-unit asset Pacific Northwest 29.0 11.0 46.7 0.9 11.0 47.6 58.6 (4.2) 39 years 2007 2017 Land Mountain States — 0.2 — — 4.6 — 4.6 — 39 years N/A 2018 200-unit asset Mountain States 20.7 1.4 25.9 0.8 1.4 26.7 28.1 (2.4) 39 years 2012 2017 264-unit asset Pacific Northwest 25.2 6.4 44.9 4.3 6.4 49.2 55.6 (4.7) 39 years 1997 2017 343-unit asset Pacific Northwest 84.0 26.8 107.4 — 26.8 107.9 134.7 (8.6) 39 years 2016 2017 179-unit asset Pacific Northwest 33.0 11.9 47.4 0.2 11.9 48.8 60.7 (4.0) 39 years 2013 2017 88-unit asset Mountain States 8.6 2.6 10.4 1.0 2.6 11.6 14.2 (1.2) 39 years 1988 2018 492-unit asset Mountain States 59.2 15.8 63.2 5.2 15.9 68.5 84.4 (6.0) 39 years 1985 2018 Land Mountain States 8.0 0.8 — — 0.7 9.2 9.9 — 39 years N/A 2018 Land Mountain States — 2.1 — — 4.3 — 4.3 — 39 years N/A 2018 293-unit asset Mountain States 19.9 7.2 28.8 0.7 7.2 29.5 36.7 (1.9) 39 years 1995 2018 188-unit asset Mountain States 13.5 4.9 19.7 6.0 4.9 25.7 30.6 (2.0) 39 years 1985 2018 Land Mountain States 20.5 5.7 — 0.2 1.9 34.7 36.6 (0.2) 39 years N/A 2018 222-unit asset Mountain States 28.8 9.6 38.6 1.4 9.6 39.9 49.5 (2.3) 39 years 1996 2018 Land Mountain States 26.9 4.0 — — 50.0 — 50.0 — 39 years N/A 2019 Land Mountain States — — — — — 2.3 2.3 — 39 years N/A 2019 360-unit asset Mountain States 52.7 16.4 65.7 0.2 16.4 66.0 82.4 (1.8) 39 years 2015 2019 260-unit asset Mountain States 40.1 13.4 53.6 — 13.4 53.7 67.1 (0.2) 39 years 2014 2020 Hotel Hotel Ireland 88.0 54.0 114.3 37.9 50.8 148.1 198.9 (31.2) 39 years 1824/2005 2014 Development Retail Spain — — 34.7 11.9 — 49.0 49.0 — N/A N/A 2015 Office Ireland 18.1 0.5 3.4 23.4 0.6 34.1 34.7 — N/A Various 2015 Retail Spain — — 13.9 — — 15.1 15.1 — N/A N/A 2017 Retail Ireland — 17.2 — 6.8 18.6 6.8 25.4 — N/A N/A 2017 Land United Kingdom 4.2 — 0.1 4.1 0.5 4.6 — N/A N/A 2018 Office Ireland — — 1.3 — — 1.3 1.3 — N/A N/A 2020 2700 acres Hawaii — 31.7 3.8 0.7 32.2 4.3 36.5 (2.0) N/A 1912 2010 3 Lots Hawaii — 16.5 — — 16.5 — 16.5 — N/A N/A 2020 Grand Total $ 2,602.4 $ 1,226.8 $ 3,542.3 $ 546.0 $ 1,225.1 $ 3,982.6 $ 5,207.7 $ (551.8) (1) The tax basis of all the properties in aggregate totaled $4,620.9 million. (2) Excludes acquired in place lease values. (3) For assets that were consolidated the date acquired represents when the asset was presented as real estate not when initially acquired by Kennedy Wilson. Changes in real estate for the years ended December 31, 2020, 2019 and 2018 were as follows: For the year ended December 31, (Dollars in millions) 2020 2019 2018 Balance at the beginning of period $ 5,430.5 $ 5,981.7 $ 6,578.6 Additions during the period: Other acquisitions 183.0 176.2 210.3 Improvements 108.4 270.0 355.1 Foreign currency 129.9 26.7 (191.7) Deductions during the period: Cost of real estate sold (644.1) (1,024.1) (970.6) Balance at close of period $ 5,207.7 $ 5,430.5 $ 5,981.7 Changes in accumulated depreciation for the years ended December 31, 2020, 2019 and 2018 were as follows: For the year ended December 31, (Dollars in millions) 2020 2019 2018 Balance at the beginning of period $ 466.8 $ 406.5 $ 344.0 Additions during the period: Depreciation expense 121.5 110.2 110.8 Deductions during the period: Dispositions (54.5) (49.0) (36.0) Foreign currency 18.0 (0.9) (12.3) Balance at close of period $ 551.8 $ 466.8 $ 406.5 See accompanying report of independent registered public accounting firm.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION — The consolidated financial statements include the accounts of Kennedy Wilson and voting interest entities which it controls. All intercompany balances and transactions have been eliminated in consolidation. In addition, Kennedy Wilson evaluates its relationships with other entities to identify whether they are variable interest entities ("VIE") as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Subtopic 810 , Consolidation and to assess whether it is the primary beneficiary of such entities. In determining whether Kennedy Wilson is the primary beneficiary of a VIE, qualitative and quantitative factors are considered, including, but not limited to: the amount and characteristics of Kennedy Wilson's investment; the obligation or likelihood for Kennedy Wilson to provide financial support; Kennedy Wilson's ability to control or significantly influence key decisions for the VIE; and the similarity with and significance to the business activities of Kennedy Wilson. The Company determines the appropriate accounting method with respect to all investments that are not VIEs based on the control-based framework (controlled entities are consolidated) provided by the consolidations guidance in ASC Subtopic 810. The Company accounts for joint ventures where it is deemed that the Company does not have control through the equity method of accounting while joint ventures that the Company controls are consolidated in Kennedy Wilson's financial statements.
USE OF ESTIMATES	USE OF ESTIMATES — The preparation of the accompanying consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") 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. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates will be reflected in the financial statements in future periods.
REVENUE RECOGNITION	REVENUE RECOGNITION — Revenue consists of rental and hotel income, management fees (including performance fees), leasing and commission fees, and sales of real estate. ASC Topic 606, Revenue from Contracts with Customers , is a five step model to recognize revenue from customer contracts. 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. Rental income from operating leases is generally recognized on a straight-line basis over the terms of the leases in accordance with ASC Topic 842, Leases . Refer to section COVID-19 Lease Modification Accounting Relief below for the impact of rent deferrals and other lease concessions to lessees on the Company's rental income amounts. Hotel income is earned when rooms are occupied or goods and services have been delivered or rendered. Sales of real estate are recognized when title to the real property passes to the buyer and there is no continuing involvement in the real property. Management fees are primarily comprised of investment management and property services fees. Investment management fees are earned from limited partners of funds, co-investments, or separate accounts and are generally based on a fixed percentage of committed capital or net asset value. Property services fees are earned for managing the operations of real estate assets and are generally based on a fixed percentage of the revenues generated from the respective real estate assets. The Company sold its property services group ("Property Services") at the beginning of the fourth quarter 2020 with the sale of KWP (as further discussed in Note 10 - Related Party Transactions) and will have minimal property services fees going forward. The Company provides investment management and property services on investments it also has an ownership interest in. Fees earned on consolidated properties are eliminated in consolidation and fees on unconsolidated investments are eliminated for the portion that relate to the Company's ownership interest. Commissions primarily consist of acquisition and disposition fees, auction and consulting fees and, prior to the sale of Property Services, also consisted of real estate sales commissions, and leasing commissions. Acquisition and disposition fees are earned for identifying and closing investments on behalf of investors and are based on a fixed percentage of the acquisition or disposition price, as applicable. Acquisition and disposition fees are recognized upon the successful completion of an acquisition or disposition after all required services have been performed. In the case of auction and real estate sales commissions, the revenue is generally recognized when escrow closes. In accordance with the guidelines established for Reporting Revenue Gross as a Principal versus Net as an Agent in the ASC Topic 606, Kennedy Wilson records commission revenues and expenses on a gross basis. Of the criteria listed in ASC Topic 606, Kennedy Wilson is the primary obligor in the transaction, does not have inventory risk, performs all or part of the service, has credit risk, and has wide latitude in establishing the price of services rendered and discretion in selection of agents and determination of service specifications. Leasing fees that are payable upon tenant occupancy, payment of rent or other events beyond Kennedy Wilson's control are recognized upon the occurrence of such events. Sales of real estate are recognized when title to the real property passes to the buyer and there is no continuing involvement in the real property. ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets, 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 ASC Subtopic 610-20, the Company recognizes the entire gain attributed to contributions of real estate properties to unconsolidated entities. Interest income from investments in performing loans which Kennedy Wilson originates or acquires are recognized at the stated interest rate plus any amortization of premiums/discounts or fees earned on the loans. Interest income from investments in loans acquired at a discount are recognized using the effective interest method. When a loan or loans are acquired with deteriorated credit quality primarily for the rewards of collateral ownership, such loans are accounted for as loans until Kennedy Wilson is in possession of the collateral. However, accrual of income is not recorded during the conversion period under ASC Subtopic 310-30-25, Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality
REAL ESTATE ACQUISITIONS	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.
UNCONSOLIDATED INVESTMENTS	UNCONSOLIDATED INVESTMENTS — Kennedy Wilson has a number of joint venture interests that were formed to acquire, manage, and/or sell real estate. Investments in unconsolidated investments are accounted for under the equity method of accounting as Kennedy Wilson can exercise significant influence, but does not have the ability to control the unconsolidated investment. An investment in an unconsolidated investment is recorded at its initial investment and is increased or decreased by Kennedy Wilson’s share of income or loss, plus additional contributions and less distributions. A decline in the value of an unconsolidated investment that is other than temporary is recognized when evidence indicates that such a decline has occurred in accordance with ASC Topic 323, Investments - Equity Method and Joint Ventures . Kennedy Wilson records its investments in certain commingled funds it manages and sponsors (the "Funds") that are investment companies under the ASC Topic 946, Financial Services - Investment Companies , 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. Thus, the Funds reflect their investments at fair value, with unrealized gains and losses resulting from changes in fair value reflected in their earnings. Additionally, Kennedy Wilson elected the fair value option for 29 investments in unconsolidated investment entities ("FV Option" investments). Due to the nature of these investments, Kennedy Wilson elected to record these investments at fair value in order to report the change in value in the underlying investments in the results of our current operations. Performance fees or carried interest are allocated to the general partner, special limited partner or asset manager of Kennedy Wilson's real estate funds based on the cumulative performance of the fund and are subject to preferred return thresholds of the limited partners. At the end of each reporting period, Kennedy Wilson calculates the performance fee that would be due as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as performance fees to reflect either (a) positive performance resulting in an increase in the performance fee allocated to the general partner or asset manager or (b) negative performance that would cause the amount due to Kennedy Wilson to be less than the amount previously recognized as revenue, resulting in a negative adjustment to performance fees allocated to the general partner or asset manager. The Company has concluded that performance fees to the Company, based on cumulative fund performance to-date, represent carried interests. For equity method investments, these fees are included as a component of the income reported from the underlying equity method investee and for equity method investments where the fair value option has been elected, these fees are included in the determination of fair value under Topic 820, Fair Value Measurement
FAIR VALUE MEASUREMENTS	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 Topic 820 . ASC Topic 820 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. The use of different market assumptions or estimation methodologies may have a material impact on the estimated fair value amounts. See Note 5 for further discussion of the estimation uncertainty related to COVID-19.
FAIR VALUE OF FINANCIAL INSTRUMENTS	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.
DISTRIBUTIONS FROM UNCONSOLIDATED INVESTMENTS	DISTRIBUTIONS FROM UNCONSOLIDATED INVESTMENTS — The Company utilizes the nature of distributions approach and distributions are reported under operating cash flow unless the facts and circumstances of a specific distribution clearly indicate that it is a return of capital (e.g., a liquidating dividend or distribution of the proceeds from unconsolidated investments' sale of assets), in which case it is reported as an investing activity.  This enables Kennedy Wilson to look to the nature and source of the distribution received and classify it appropriately between operating and investing activities on the statement of cash flows based upon the source.
FOREIGN CURRENCIES	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 the Company's 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. KWE has also entered into currency derivative contracts to manage its exposure to euro to British pound currency fluctuations.
DERIVATIVE INSTRUMENTS AND HEDING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES — Kennedy Wilson has derivatives to reduce its exposure to foreign currencies. 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. 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.
GOODWILL	GOODWILL — Goodwill results from the difference between the purchase price and the fair value of net assets acquired based upon the purchase method of accounting for business combinations. In accordance with ASC Subtopic 350-20, Accounting for Goodwill
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS — Cash and cash equivalents consist of cash and all highly liquid investments purchased with maturities of three months or less. Cash and cash equivalents are invested in institutions insured by government agencies. Certain accounts contain balances in excess of the insured limits. Kennedy Wilson's operations and financial position are affected by fluctuations in currency exchange rates between the euro and British pound sterling against the U.S. Dollar. As of December 31, 2020, 2019, and 2018 we have $101.7 million, $54.5 million, and $88.0 million, respectively, of restricted cash, which is included in cash and cash equivalents, that primarily relates to lender reserves associated with consolidated mortgages that we hold on properties as well as escrow deposits associated with acquisitions and dispositions.  These reserves typically relate to interest, tax, insurance and future capital expenditures at the properties.
LONG-LIVED ASSETS	LONG-LIVED ASSETS — Kennedy Wilson reviews its long-lived assets (excluding goodwill) whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with ASC Subtopic 360-10, Impairment of Long-Lived Assets
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE — Accounts receivable are recorded at the contractual amount as determined by the underlying agreements and do not bear interest. The Company recognizes revenue to the extent that amounts are probable that substantially all rental income will be collected.
CONCENTRATION OF CREDIT RISK	CONCENTRATION OF CREDIT RISK — Financial instruments that subject Kennedy Wilson to credit risk consist primarily of accounts and notes receivable, cash equivalents and derivative instruments. Credit risk is generally diversified due to the large number of entities composing Kennedy Wilson’s customer base and their geographic dispersion throughout the United States, the United Kingdom, Ireland, Spain and Italy. Kennedy Wilson performs ongoing credit evaluations of its customers and debtors.
EARNINGS PER SHARE	EARNINGS PER SHARE — Basic earnings per share is computed based upon the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings per share is computed based upon the weighted average number of shares of common stock and potentially dilutive securities outstanding during the periods presented. The dilutive impact of potentially dilutive securities including convertible securities, and unvested stock which were outstanding during the period. Unvested stock are calculated by the “treasury stock” method and the convertible securities under the "if converted" method.
COMPREHENSIVE INCOME (LOSS)	COMPREHENSIVE INCOME (LOSS) — Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). In the accompanying consolidated balance sheets, accumulated other comprehensive income consists of foreign currency translation adjustments and unrealized gains (losses) on interest rate swaps and derivative instruments.
REPURCHASE OF EQUITY INSTRUMENTS	REPURCHASE OF EQUITY INSTRUMENTS — Upon the decision to retire repurchased equity instruments, Kennedy Wilson records the retirement as a reduction to additional paid in capital for the amount that shares were initially issued at with the excess paid going to retained earnings.
SHARE-BASED PAYMENT ARRANGEMENTS	SHARE-BASED PAYMENT ARRANGEMENTS — Kennedy Wilson accounts for its share-based payment arrangements under the provisions of ASC Subtopic 718-10, Share-Based Payments. Compensation cost for employee service received in exchange for an award of equity instruments is based on the grant-date fair value of the share-based award that is ultimately settled in equity of Kennedy Wilson. The cost of employee services is recognized over the period during which an employee provides service in exchange for the share-based payment award. Share-based payment arrangements with only services conditions that vest ratably over the requisite service period are recognized on the straight-line basis and performance awards that vest ratably are recognized on a tranche by tranche basis over the performance period.
INCOME TAXES	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 basis 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 accounting for uncertainty in ASC Subtopic 740-10, Income Taxes, Kennedy Wilson recognizes the effect of income tax positions only if those positions are more likely than not of being 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. Kennedy Wilson records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses.
NONCONTROLLING INTERESTS	NONCONTROLLING INTERESTS — Noncontrolling interests are reported within equity as a separate component of Kennedy Wilson's equity in accordance with ASC Subtopic 810-10. Revenues, expenses, gains, losses, net income or loss, and other comprehensive income are reported in the Consolidated Statements of Income at the consolidated amounts and net income and comprehensive income attributable to noncontrolling interests are separately stated.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS COVID-19 LEASE MODIFICATION ACCOUNTING RELIEF—Due to the business disruptions and challenges severely affecting the global economy caused by the COVID-19 pandemic, many lessors may be required to provide rent deferrals and other lease concessions to lessees. While the lease modification guidance in ASC Topic 842 addresses routine changes to lease terms resulting from negotiations between the lessee and the lessor, this guidance did not contemplate concessions being so rapidly executed to address the sudden liquidity constraints of some lessees arising from the COVID-19 pandemic and restrictions intended to prevent its spread. In April 2020, the FASB staff issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the COVID-19 pandemic. Under existing lease guidance, on a lease by lease basis the Company would have to determine, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows the Company, if certain criteria have been met, to bypass the lease by lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. The Company had no significant deterioration to its rental collections during the year ended December 31, 2020. During the year ended December 31, 2020, the Company identified $15.0 million of receivables and other lease-related assets that are no longer probable of collection. Accordingly, the Company will account for these leases on a cash basis and recognize rental income to the extent the Company receives cash from the tenants. Of the $15.0 million identified, $13.5 million was related to the Company's Consolidated portfolio and recorded as a reduction of rental income and $1.5 million was related to the Company's share of Co-Investments portfolio and recorded as a reduction of income from unconsolidated investments. The Company has received some requests for lease modifications and has granted some deferrals but the amount that may no longer be probable of collection over the lease term generally has not changed so there has been minimal impact to rental revenues from lease modifications. The Company will continue to evaluate the extent of lease concessions granted to tenants as a result of the COVID-19 pandemic in future periods and the elections made by the Company at the time of entering into such concessions. Effective January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842), and other related follow-on ASUs issued in connection with ASC 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 effects of adoption discussed below were not considered material to the Company's consolidated financial statements. Lessees • On January 1, 2019, due to the adoption of ASU 2016-02 the Company has recorded a right of use asset and a corresponding lease liability of $13.6 million, which is recorded as a component of other assets, net and accrued expenses, respectively, in the accompanying consolidated balance sheets. The average remaining lease term is 95 years and the weighted average discount rate is 2.9% as of December 31, 2020. Lessors • The Company elected the practical expedient to not separate rental recovery revenue from the associated rental revenue as the timing and pattern of transfer are the same for operating leases. Accordingly, the Company accounts and presents for rental revenue and rental recovery revenue as a single component. Consistent with the transition guidance under ASU 2018-11, Leases (Topic 842): Targeted Improvements , all prior period disclosures remain in accordance with ASC Topic 840. In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , 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. The Company adopted this standard on January 1, 2020 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , which changes the recognition and presentation requirements of hedge accounting, including: eliminating the requirement to separately measure and report hedge ineffectiveness, and presenting all items that affect earnings in the same income statement line item as the hedged item. The ASU also provides new alternatives for (a) applying hedge accounting to additional hedging strategies, (b) measuring the hedged item in fair value hedges of interest rate risk, (c) reducing the cost and complexity of applying hedge accounting by easing the requirements for effectiveness testing, hedge documentation and application of the critical terms match method, and (d) reducing the risk of material error correction if a company applies the shortcut method inappropriately. The Company adopted this standard on January 1, 2019 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220)—Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The Company adopted this standard on January 1, 2019 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Disclosure Framework —Changes to the Disclosure Requirements for Fair Value Measurement , which modifies the disclosure requirements on fair value measurements in ASC Topic 820, including: the removal of valuation processes for Level 3 fair value measurements. The ASU also adds new requirements including (a) the changes in unrealized gains and losses for the period included in other comprehensive income for recurring level 3 fair value measurements and (b) the range and weighted average of significant unobservable inputs used to develop level 3 fair value measurements. The Company adopted this standard on January 1, 2020 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements. In June 2016, the FASB updated ASC Topic 326, Financial Instruments - Credit Losses with ASU 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. This ASU is effective for all entities for annual and interim periods in fiscal years beginning after December 15, 2019. In addition, in November 2018 the FASB issued ASU 2018-19, which clarifies that receivables arising from operating leases are not within the scope of the credit losses standard, but rather, should be accounted for in accordance with ASC Topic 842. The Company adopted this standard on January 1, 2020 and the adoption of this standard did not have a material impact on Kennedy Wilson's consolidated financial statements. During the course of 2020 the Company has launched a debt platform originating and acquiring performing loans. As of December 31, 2020 the Company has $107.1 million of investments in loan originations and acquisitions. Since the Company has no history of having issues with loans being uncollectible and current loans are performing and backed by credit worthy borrowers the Company does not expect significant credit losses but will monitor and evaluate loans in accordance with ASU 2016-13. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) , which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The ASU was effective upon issuance on a prospective basis beginning January 1, 2020 and may be elected over time as reference rate reform activities occur. The Company is currently evaluating the impact of adopting ASU 2020-04 on its consolidated financial statements as the Company has not had any reference rate reform activities occur through December 31, 2020. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) , removes certain exceptions to the general principles in Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. This ASU is effective for the Company for all interim and annual periods beginning January 1, 2021, with early adoption permitted. The Company early adopted ASU 2019-12 beginning January 1, 2020 on a prospective basis. The adoption of this standard did not have an impact on the Company's condensed consolidated financial statements and related disclosures. The FASB did not issue any other ASUs during the year ended December 31, 2020 that the Company expects to be applicable and have a material impact on the Company's financial position or results of operations. RECLASSIFICATIONS—Certain balances included in prior year's financial statements have been reclassified to conform to the current year's presentation.

REAL ESTATE AND ACQUIRED IN P_2

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Schedule of Investments in Consolidated Properties	The following table summarizes the Company's investment in consolidated real estate properties at December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 Land $ 1,225.1 $ 1,330.6 Buildings 3,436.0 3,630.4 Building improvements 546.6 469.5 Acquired in-place lease values 327.8 352.9 5,535.5 5,783.4 Less accumulated depreciation and amortization (815.0) (703.2) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 4,720.5 $ 5,080.2 (Dollars in millions) Gain on sale of real estate Year ended December 31, Description Consolidated (1) NCI Net of NCI 2020 20 industrial properties (including the deconsolidation of previously consolidated real estate as discussed below), 19 retail properties, three office properties and one multifamily property in United Kingdom, two multifamily properties and two office properties in Ireland, one retail property in Spain, and one multifamily property in Western United States $ 353.6 $ — $ 353.6 2019 11 commercial properties and one hotel in the United Kingdom, one hotel in Ireland, 10 Spanish retail properties, five retail properties, one hotel, and one multifamily property in the Western United States, and the deconsolidation of previously consolidated real estate as discussed below 434.9 116.7 318.2 2018 26 commercial properties in United Kingdom, three commercial properties in Ireland, two commercials properties in Italy, six multifamily properties in Ireland, three multifamily properties in Western United States, and one residential property in Ireland, and one residential property in Western United States 369.6 70.6 299.0 (1) Includes sale of real estate and cost of real estate sold, which are presented net in the table above.
Schedule of Business Acquisitions	During the year ended December 31, 2020, 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 KWH Shareholders' Equity Western U.S. One multifamily property $ 13.4 $ 53.6 $ 0.5 $ 38.7 $ 106.3 United Kingdom One industrial property — 40.2 — — 40.2 Ireland One commercial property — 1.3 — — 1.3 $ 13.4 $ 95.1 $ 0.5 $ 38.7 $ 147.8 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets, net and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. During the year ended December 31, 2019, 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 KWH Shareholders' Equity Western U.S. One multifamily property and one commercial property $ 39.9 $ 123.0 $ 37.2 $ 112.2 $ 87.9 United Kingdom One commercial property and one industrial property 29.0 39.2 2.9 58.6 12.5 Ireland One commercial property 7.2 31.7 3.4 44.0 (1.7) $ 76.1 $ 193.9 $ 43.5 $ 214.8 $ 98.7 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets, net and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets.
Lessor, Operating Lease, Payments to be Received, Maturity	The following table summarizes the minimum lease payments due from the Company's tenants on leases with lease periods greater than one year at December 31, 2020: (Dollars in millions) Minimum Rental Revenues (1) 2021 $ 167.9 2022 156.7 2023 127.8 2024 105.2 2025 87.9 Thereafter 355.3 Total $ 1,000.8 (1) These amounts do not reflect future rental revenues from the renewal or replacement of existing leases, rental increases that are not fixed and exclude reimbursements of rental expenses.

UNCONSOLIDATED INVESTMENTS (Tab

UNCONSOLIDATED INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Joint Ventures by Investment Type and Geographic Location	The following table details Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2020: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 226.2 $ 83.0 $ 86.3 $ 118.1 $ 180.8 $ 694.4 Ireland 389.7 129.7 — 3.7 — 523.1 United Kingdom — 56.4 — 15.4 — 71.8 Total $ 615.9 $ 269.1 $ 86.3 $ 137.2 $ 180.8 $ 1,289.3 The following table details the Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2019: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 230.5 $ 78.1 $ 72.8 $ 139.6 $ 238.7 $ 759.7 Ireland 378.7 139.4 — — — 518.1 United Kingdom — 48.7 — — — 48.7 Total $ 609.2 $ 266.2 $ 72.8 $ 139.6 $ 238.7 $ 1,326.5
Schedule of Cash Distributions by Investment Type and Geographic Location	The following table details cash distributions by investment type and geographic location for the year ended December 31, 2020: Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 25.8 $ 28.7 $ 6.4 $ 2.6 $ 6.7 $ 13.3 $ — $ 33.3 $ 38.9 $ 77.9 Ireland 8.5 2.5 12.2 96.0 0.1 — — — 20.8 98.5 United Kingdom — — — 1.1 — — — — — 1.1 Total $ 34.3 $ 31.2 $ 18.6 $ 99.7 $ 6.8 $ 13.3 $ — $ 33.3 $ 59.7 $ 177.5
Schedule of Income (Loss) from Unconsolidated Investments	The following table presents income from unconsolidated investments recognized by Kennedy Wilson during the years ended December 31, 2020, 2019 and 2018: Year Ended December 31, (Dollars in millions) 2020 2019 2018 Income from unconsolidated investments - operating performance $ 43.4 $ 35.5 $ 18.8 Income from unconsolidated investments - realized gains — 53.5 22.1 Income from unconsolidated investments - fair value 47.2 64.7 10.4 Income from unconsolidated investments - performance fees 2.7 36.3 27.4 Income from unconsolidated investments - realized losses and impairment (12.3) (10.3) — $ 81.0 $ 179.7 $ 78.7

FAIR VALUE MEASUREMENTS AND T_2

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION (Tables)	12 Months Ended
	Dec. 31, 2020
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 December 31, 2020: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 1,136.5 $ 1,136.5 Net currency derivative contracts — (64.0) — (64.0) Total $ — $ (64.0) $ 1,136.5 $ 1,072.5 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, 2019: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 1,099.3 $ 1,099.3 Net currency derivative contracts — (34.7) — (34.7) Total $ — $ (34.7) $ 1,099.3 $ 1,064.6
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) December 31, 2020 December 31, 2019 FV Option $ 999.2 $ 959.7 Funds 137.3 139.6 Total $ 1,136.5 $ 1,099.3
Schedule of Changes in Level 3 Investments	The following table presents changes in Level 3 investments, investments in investment companies and investments in joint ventures that elected the fair value option, for the years ended December 31: (Dollars in millions) 2020 2019 2018 Beginning balance $ 1,099.3 $ 662.2 $ 380.7 Unrealized and realized gains 109.8 161.1 87.7 Unrealized and realized losses (13.5) (26.9) (33.1) Contributions 109.2 191.2 335.9 Distributions (189.7) (104.1) (76.3) Foreign Exchange 24.5 (3.4) (4.0) Non-cash contributions (distributions), net (3.1) 219.2 (28.7) Ending Balance $ 1,136.5 $ 1,099.3 $ 662.2
Schedule of the Funds and Fair Value Option Investments, Significant Inputs	The table below describes the range of inputs used as of December 31, 2020 for real estate assets: Estimated Rates Used For Capitalization Rates Discount Rates Multifamily 3.80% — 5.75% 5.75% — 8.15% Office 4.00% — 7.00% 5.00% — 9.00% Retail 5.00% — 8.75% 7.50% — 11.25% Hotel 6.00% 7.50% — 8.25% Residential N/A 12.00%
Schedule of Currency Forward Contracts	The table below details the currency forward contracts and currency option contracts Kennedy Wilson had as of December 31, 2020: (Dollars in millions) December 31, 2020 Year Ended December 31, 2020 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized (Losses) Gains Realized (Losses) Gains Interest Expense Cash Received (Paid) Outstanding EUR USD € 232.5 $ 1.4 $ 17.3 $ (1.1) $ (22.0) $ 3.4 $ — EUR (1) GBP € 212.6 — 34.7 (3.7) — — — EUR (1)(2) GBP — — 35.1 — — — GBP USD £ 410.0 10.6 23.9 (12.9) — 4.4 — Total Outstanding 12.0 75.9 17.4 (22.0) 7.8 — Settled EUR USD — — 0.4 4.7 0.6 13.6 EUR GBP — — (4.0) — — (17.1) GBP USD — — 18.4 — 0.9 18.9 Total Settled — — 14.8 4.7 1.5 15.4 Total $ 12.0 $ 75.9 $ 32.2 (3) $ (17.3) $ 9.3 $ 15.4 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 9. (3) Excludes deferred tax benefit of $0.2 million.

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: December 31, (Dollars in millions) 2020 2019 Loan purchases and originations $ 107.1 $ 37.5 Straight line rent receivable 51.6 47.3 Deferred taxes, net 22.1 24.4 Goodwill 23.9 23.9 Furniture and equipment net of accumulated depreciation of $27.2 and $21.9 at December 31, 2020 and December 31, 2019, respectively 22.3 23.7 Other, net of accumulated amortization of $2.1 and $2.0 at December 31, 2020 and 2019, respectively 19.0 16.5 Above-market leases, net of accumulated amortization of $58.3 and $51.0 at December 31, 2020 and 2019, respectively 15.0 26.1 Hedge assets 12.0 32.6 Prepaid expenses 11.8 14.3 Right of use asset, net 11.2 13.6 Leasing commissions, net of accumulated amortization of $7.4 and $4.7 at December 31, 2020 and 2019, respectively 10.2 11.9 Other Assets $ 306.2 $ 271.8
Lessee, Operating Lease, Liability, Maturity	The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted to calculate the right of use asset and related lease liability for its operating leases in which we are the lessee: (Dollars in millions) Minimum Rental Payments 2021 $ 1.5 2022 1.5 2023 0.8 2024 0.5 2025 0.4 Thereafter 32.4 Total undiscounted rental payments 37.1 Less imputed interest (25.9) Total lease liabilities $ 11.2 Future minimum lease payments under scheduled operating and ground leases that have initial or remaining noncancelable terms in excess of one year are as follows: (Dollars in millions) Year ending December 31, 2021 $ 1.5 2022 1.5 2023 0.8 2024 0.5 2025 0.4 Thereafter 32.4 Total minimum payments $ 37.1

MORTGAGE DEBT (Tables)

MORTGAGE DEBT (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Mortgage Loans Payable	The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of December 31, 2020 and 2019: (Dollars in millions) Carrying amount of mortgage debt as of December 31, (1) Mortgage Debt by Product Type Region 2020 2019 Multifamily (1) Western U.S. $ 1,345.5 $ 1,324.7 Commercial (1) United Kingdom 429.6 514.5 Commercial Western U.S. 375.2 405.4 Commercial (1) Ireland 320.5 289.6 Hotel Ireland 88.0 80.8 Commercial Spain 43.6 40.3 Mortgage debt (excluding loan fees) (1) 2,602.4 2,655.3 Unamortized loan fees (12.6) (14.3) Total Mortgage Debt $ 2,589.8 $ 2,641.0 (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 net unamortized loan premium as of December 31, 2020 and 2019 was $4.5 million and $4.0 million, respectively.
Schedule of Maturities of Mortgage Loans and Notes Payable	The aggregate maturities of mortgage loans subsequent to December 31, 2020 are as follows: (Dollars in millions) Aggregate Maturities 2021 (1) $ 47.5 2022 330.9 2023 428.8 2024 206.1 2025 547.2 Thereafter 1,037.4 2,597.9 Unamortized debt premium 4.5 Unamortized loan fees (12.6) Total Mortgage Debt $ 2,589.8 (1) The Company expects to repay the amounts maturing in the next twelve months with new mortgage loans, cash generated from operations, existing cash balances, proceeds from dispositions of real estate investments, or as necessary, with borrowings on our A&R Facility.

KW UNSECURED DEBT (Tables)

KW UNSECURED DEBT (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt KW Unsecured Debt	The following table details KW unsecured debt as of December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 Credit Facility $ 200.0 $ — Senior Notes (1) 1,146.9 1,146.1 KW Unsecured Debt 1,346.9 1,146.1 Unamortized loan fees (14.7) (14.4) Total KW Unsecured Debt $ 1,332.2 $ 1,131.7 (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 debt discount as of December 31, 2020 and 2019 was $3.1 million and $3.9 million, respectively. The following table details the KWE unsecured bonds as of December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 KWE Bonds $ 504.7 $ 662.9 KWE Euro Medium Term Note Programme 669.7 614.7 KWE Unsecured Bonds (excluding loan fees) (1) 1,174.4 1,277.6 Unamortized loan fees (1.9) (3.4) Total KWE Unsecured Bonds $ 1,172.5 $ 1,274.2 (1) The KWE unsecured bonds 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 net unamortized loan premium (discount) as of December 31, 2020 and 2019 was $(2.8) million and $(3.1) million, respectively.

KWE UNSECURED BONDS (Tables)

KWE UNSECURED BONDS (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of KWE Bonds	The following table details KW unsecured debt as of December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 Credit Facility $ 200.0 $ — Senior Notes (1) 1,146.9 1,146.1 KW Unsecured Debt 1,346.9 1,146.1 Unamortized loan fees (14.7) (14.4) Total KW Unsecured Debt $ 1,332.2 $ 1,131.7 (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 debt discount as of December 31, 2020 and 2019 was $3.1 million and $3.9 million, respectively. The following table details the KWE unsecured bonds as of December 31, 2020 and 2019: December 31, (Dollars in millions) 2020 2019 KWE Bonds $ 504.7 $ 662.9 KWE Euro Medium Term Note Programme 669.7 614.7 KWE Unsecured Bonds (excluding loan fees) (1) 1,174.4 1,277.6 Unamortized loan fees (1.9) (3.4) Total KWE Unsecured Bonds $ 1,172.5 $ 1,274.2 (1) The KWE unsecured bonds 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 net unamortized loan premium (discount) as of December 31, 2020 and 2019 was $(2.8) million and $(3.1) million, respectively.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The table below represents a geographical breakdown of book income before the provision for income taxes: Year ended December 31, (Dollars in millions) 2020 2019 2018 Domestic $ (37.0) $ 249.5 $ 156.5 Foreign 188.4 113.0 113.6 Total $ 151.4 $ 362.5 $ 270.1
Schedule of (Benefit from) Provision for Income Taxes	The U.S. and foreign components of provision for income taxes consisted of the following components. However, it is not reflective of the cash tax results of the Company. Year ended December 31, (Dollars in millions) 2020 2019 2018 Federal Current $ — $ — $ — Deferred 23.3 31.2 33.4 23.3 31.2 33.4 State Current 1.5 0.3 — Deferred 0.4 (4.6) 10.6 1.9 (4.3) 10.6 Foreign Current 14.9 14.4 18.4 Deferred 3.5 0.1 (4.4) 18.4 14.5 14.0 Total $ 43.6 $ 41.4 $ 58.0
Reconciliation of the Statutory Federal Income Tax Rate	A reconciliation of the statutory federal income tax rate of 21% with Kennedy Wilson’s effective income tax rate is as follows: Year ended December 31, (Dollars in millions) 2020 2019 2018 Tax computed at the statutory rate $ 31.8 $ 76.1 $ 56.7 Tax deduction in excess of book compensation from restricted stock vesting 0.1 0.3 1.8 Domestic permanent differences, primarily disallowed executive compensation 7.2 6.1 3.8 Foreign permanent differences, primarily non-deductible depreciation, amortization and interest expenses in the United Kingdom 2.0 1.3 1.4 Effect of foreign tax operations on U.S. taxes, net of foreign tax credits and valuation allowance (3.7) (16.8) 1.1 Noncontrolling interests (0.9) (22.2) (15.1) State income taxes, net of federal benefit 2.9 — 8.0 Other 4.2 (3.4) 0.3 Provision for income taxes $ 43.6 $ 41.4 $ 58.0
Schedule of Deferred Tax Assets and Liabilities	Cumulative tax effects of temporary differences are shown below at December 31, 2020 and 2019: Year ended December 31, (Dollars in millions) 2020 2019 Deferred tax assets: Foreign currency translation $ 3.7 $ 4.9 Net operating loss carryforward and credits 137.1 138.6 Investment basis difference 91.2 96.2 Stock option expense 3.0 1.3 Hedging transactions 13.4 7.2 Lease liability 0.1 — Accrued reserves 0.6 — Total deferred tax assets 249.1 248.2 Valuation allowance (204.4) (209.2) Net deferred tax assets 44.7 39.0 Deferred tax liabilities: Investment basis and reserve differences 159.5 145.7 Depreciation and amortization 20.0 2.8 Right of use asset 0.1 — Prepaid expenses and other 2.8 2.4 Capitalized interest 1.3 1.3 Total deferred tax liabilities 183.7 152.2 Deferred tax liability, net $ (139.0) $ (113.2)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Lessee, Operating Lease, Liability, Maturity	The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted to calculate the right of use asset and related lease liability for its operating leases in which we are the lessee: (Dollars in millions) Minimum Rental Payments 2021 $ 1.5 2022 1.5 2023 0.8 2024 0.5 2025 0.4 Thereafter 32.4 Total undiscounted rental payments 37.1 Less imputed interest (25.9) Total lease liabilities $ 11.2 Future minimum lease payments under scheduled operating and ground leases that have initial or remaining noncancelable terms in excess of one year are as follows: (Dollars in millions) Year ending December 31, 2021 $ 1.5 2022 1.5 2023 0.8 2024 0.5 2025 0.4 Thereafter 32.4 Total minimum payments $ 37.1

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Nonvested Share Activity	The following table sets forth activity under the Amended and Restated Plan, the First Amended and Restated Plan, and the Second Amended and Restated Plan for the Company's fiscal years ending December 31, 2020, 2019 and 2018: Shares Nonvested at December 31, 2018 3,916,948 Granted 64,458 Vested (1,729,046) Forfeited — Nonvested at December 31, 2019 2,252,360 Granted 2,543,551 Vested (1,279,433) Forfeited (62,710) Nonvested at December 31, 2020 3,453,768

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Dividends Declared and Paid	Kennedy Wilson declared and paid the following cash dividends on its common stock: (Dollars in millions) Year Ended December 31, 2020 Year Ended December 31, 2019 Declared Paid Declared Paid Preferred Stock $ 17.2 $ 13.6 $ 2.6 $ 2.6 Common Stock (1) 125.6 126.1 121.1 114.9 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets. The Company's dividends related to its common stock will be classified for U.S. federal income tax purposes as follows: Record Date Payment Date Distributions Per Share Ordinary Dividends Return of Capital 12/27/2019 1/2/2020 $ 0.2200 $ 0.0597 $ 0.1603 3/31/2020 4/7/2020 0.2200 0.0597 0.1603 6/30/2020 7/9/2020 0.2200 0.0597 0.1603 9/30/2020 10/8/2020 0.2200 0.0597 0.1603 Totals $ 0.8800 $ 0.2388 $ 0.6412
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in each component of accumulated other comprehensive income (loss) ("AOCI"), net of taxes: (Dollars in millions) Foreign Currency Translation Foreign Currency Derivative Contracts Interest Rate Swaps Total Accumulated Other Comprehensive Income (1) Balance at December 31, 2019 $ (98.3) $ 40.4 $ (0.7) $ (58.6) Unrealized (losses) gains, arising during the period 67.6 (38.0) (6.9) 22.7 Taxes on unrealized (losses) gains, arising during the period (1.2) 0.2 1.7 0.7 Amounts reclassified out of AOCI during the period, gross 0.3 — 0.7 1.0 Amounts reclassified out of AOCI during the period, taxes — — (0.2) (0.2) Noncontrolling interest (0.6) — — (0.6) Balance (of Kennedy Wilson's share) at December 31, 2020 $ (32.2) $ 2.6 $ (5.4) $ (35.0) (1) Includes $358.4 million of inception to date accumulated other comprehensive losses associated with noncontrolling interest holders of KWE that the Company was required to record as part of the KWE Transaction in October 2017.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per share: Year ended December 31, (Dollars in millions, except share amounts and per share data) 2020 2019 2018 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 92.9 $ 224.1 $ 150 Net income and dividends allocated to participating securities — (0.3) (0.9) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities 92.9 223.8 149.1 Dividends declared on common shares (125.6) (121.1) (113.0) Undistributed earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (32.7) $ 102.7 $ 36.1 Distributed earnings per share $ 0.88 $ 0.85 $ 0.78 Undistributed earnings per share (0.22) 0.75 0.26 Income per share - basic 0.66 1.60 1.04 Income per share - diluted $ 0.66 $ 1.58 $ 1.04 Weighted-average shares outstanding for basic 139,741,411 139,729,573 142,895,472 Weighted average shares outstanding for diluted 140,347,365 141,501,323 144,753,421 Dividends declared per common share $ 0.88 $ 0.85 $ 0.78

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize the income and expense activity by segment for the years ended December 31, 2020, 2019 and 2018 and total assets as of December 31, 2020 and 2019. Year Ended December 31, 2020 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 403.9 $ — $ — $ 403.9 Hotel 13.9 — — 13.9 Investment management, property services and research fees — 22.5 10.6 33.1 Total revenue 417.8 22.5 10.6 450.9 Expenses Rental 135.7 — — 135.7 Hotel 13.8 — — 13.8 Commission and marketing — — 2.8 2.8 Compensation and related 59.7 21.0 63.7 144.4 General and administrative 20.6 5.9 8.1 34.6 Depreciation and amortization 179.6 — — 179.6 Total expenses 409.4 26.9 74.6 510.9 Income from unconsolidated investments, net of depreciation and amortization — 81.0 — 81.0 Gain on sale of real estate, net 338.0 — — 338.0 Transaction-related expenses (0.9) — — (0.9) Interest expense (141.7) — (69.5) (211.2) Other (loss) income (0.6) — 5.1 4.5 Provision for income taxes (18.4) — (25.2) (43.6) Net income (loss) 184.8 76.6 (153.6) 107.8 Net loss attributable to noncontrolling interests 2.3 — — 2.3 Preferred dividends and accretion of preferred stock issuance costs — — (17.2) (17.2) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 187.1 $ 76.6 $ (170.8) $ 92.9 Year Ended December 31, 2019 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 447.4 $ — $ — $ 447.4 Hotel 80.5 — — 80.5 Sale of real estate 1.1 — — 1.1 Investment management, property services and research fees — 24.9 15.8 40.7 Total revenue 529.0 24.9 15.8 569.7 Expenses Rental 152.9 — — 152.9 Hotel 60.1 — — 60.1 Cost of real estate sold 1.2 — — 1.2 Commission and marketing — — 3.8 3.8 Compensation and related 71.0 15.1 65.7 151.8 General and administrative 26.3 5.6 10.5 42.4 Depreciation and amortization 187.6 — — 187.6 Total expenses 499.1 20.7 80.0 599.8 Income from unconsolidated investments, net of depreciation and amortization — 179.7 — 179.7 Gain on sale of real estate, net 434.4 — — 434.4 Transaction-related expenses (6.8) — — (6.8) Interest expense (145.6) — (69.5) (215.1) Other income 2.8 — (2.4) 0.4 Provision for from income taxes (14.5) — (26.9) (41.4) Net income (loss) 300.2 183.9 (163.0) 321.1 Net income attributable to noncontrolling interests (94.4) — — (94.4) Preferred dividends and accretion of preferred stock issuance costs — — (2.6) (2.6) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 205.8 $ 183.9 $ (165.6) $ 224.1 Year Ended December 31, 2018 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 514.6 $ — $ — $ 514.6 Hotel 155.7 — — 155.7 Sale of real estate 56.8 — — 56.8 Investment management, property services and research fees — 15.4 29.9 45.3 Total revenue 727.1 15.4 29.9 772.4 Expenses Rental 160.8 — — 160.8 Hotel 121.5 — — 121.5 Cost of real estate sold 52.5 — — 52.5 Commission and marketing — — 5.9 5.9 Compensation and related 64.7 20.5 83.6 168.8 General and administrative 28.1 7.5 15.2 50.8 Depreciation and amortization 206.1 — — 206.1 Total expenses 633.7 28.0 104.7 766.4 Income from unconsolidated investments, net of depreciation and amortization — 78.7 — 78.7 Gain on sale of real estate, net 371.8 — — 371.8 Gain on sale of business — — 40.4 40.4 Transaction-related expenses (1.7) — — (1.7) Interest expense (161.0) — (77.2) (238.2) Other income 0.7 — 12.4 13.1 Provision for income taxes (14.0) — (44.0) (58.0) Net income (loss) 289.2 66.1 (143.2) 212.1 Net income attributable to noncontrolling interests (62.1) — — (62.1) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 227.1 $ 66.1 $ (143.2) $ 150.0 December 31, (Dollars in millions) 2020 2019 Assets Consolidated $ 5,562.4 $ 5,679.7 Co-investment 1,396.4 1,326.5 Corporate 370.2 298.3 Total assets $ 7,329.0 $ 7,304.5 December 31, (Dollars in millions) 2020 2019 2018 Expenditures for long lived assets Investments $ (264.2) $ (402.0) $ (571.8)
Schedule of Revenue, by Geographical Areas	The revenue shown in the table below is allocated based upon the region in which services are performed. Year Ended December 31, (Dollars in millions) 2020 2019 2018 United States $ 274.2 $ 275.7 $ 327.7 Europe 176.7 294.0 444.7 Total revenue $ 450.9 $ 569.7 $ 772.4

GUARANTOR AND NON-GUARANTOR F_2

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Guarantor and Nonguarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2020 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 105.5 $ 174.5 $ 685.1 $ — $ 965.1 Accounts receivable — 0.2 15.5 32.2 — 47.9 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 2,009.7 2,710.8 — 4,720.5 Unconsolidated investments — 15.1 459.4 814.8 — 1,289.3 Investments in and advances to consolidated subsidiaries 1,686.5 3,173.4 1,768.4 — (6,628.3) — Other assets — 10.3 69.3 226.6 — 306.2 Total assets $ 1,686.5 $ 3,304.5 $ 4,496.8 $ 4,469.5 $ (6,628.3) $ 7,329.0 Liabilities Accounts Payable — 0.2 1.9 28.0 — 30.1 Accrued expenses and other liabilities 42.0 285.6 49.6 154.5 — 531.7 Mortgage debt — — 1,271.9 1,317.9 — 2,589.8 KW unsecured debt — 1,332.2 — — — 1,332.2 KWE unsecured bonds — — — 1,172.5 1,172.5 Total liabilities 42.0 1,618.0 1,323.4 2,672.9 — 5,656.3 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,644.5 1,686.5 3,173.4 1,768.4 (6,628.3) 1,644.5 Noncontrolling interests — — — 28.2 — 28.2 Total equity 1,644.5 1,686.5 3,173.4 1,796.6 (6,628.3) 1,672.7 Total liabilities and equity $ 1,686.5 $ 3,304.5 $ 4,496.8 $ 4,469.5 $ (6,628.3) $ 7,329.0 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2019 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ 30.8 $ 6.4 $ 102.7 $ 434.0 $ — $ 573.9 Accounts receivable — — 13.9 38.2 — 52.1 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 2,052.3 3,027.9 — 5,080.2 Unconsolidated investments — 18.2 526.0 782.3 — 1,326.5 Investments in and advances to consolidated subsidiaries 1,682.3 3,037.5 1,660.5 — (6,380.3) — Other assets — — 61.1 210.7 — 271.8 Total assets $ 1,713.1 $ 3,062.1 $ 4,416.5 $ 4,493.1 $ (6,380.3) $ 7,304.5 Liabilities Accounts Payable $ — $ 0.9 $ 3.4 $ 16.1 $ — $ 20.4 Accrued expenses and other liabilities 34.4 247.2 59.7 176.7 — 518.0 Mortgage debt — — 1,315.9 1,325.1 — 2,641.0 KW unsecured debt — 1,131.7 — — — 1,131.7 KWE unsecured bonds — — — 1,274.2 — 1,274.2 Total liabilities 34.4 1,379.8 1,379.0 2,792.1 — 5,585.3 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,678.7 1,682.3 3,037.5 1,660.5 (6,380.3) 1,678.7 Noncontrolling interests — — — 40.5 40.5 Total equity 1,678.7 1,682.3 3,037.5 1,701.0 (6,380.3) 1,719.2 Total liabilities and equity $ 1,713.1 $ 3,062.1 $ 4,416.5 $ 4,493.1 $ (6,380.3) $ 7,304.5
Consolidating Statement of Operations	CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2020 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 190.1 $ 213.8 $ — $ 403.9 Hotel — — — 13.9 — 13.9 Investment management, property services, and research fees — — 28.5 4.6 — 33.1 Total revenue — — 218.6 232.3 — 450.9 Expenses Rental — — 72.5 63.2 — 135.7 Hotel — — — 13.8 — 13.8 Commission and marketing — — 2.8 — — 2.8 Compensation and related 33.5 68.0 37.4 5.5 — 144.4 General and administrative — 17.2 11.2 6.2 — 34.6 Depreciation and amortization — 1.5 79.9 98.2 — 179.6 Total expenses 33.5 86.7 203.8 186.9 — 510.9 Income from unconsolidated investments, net of depreciation and amortization — 0.6 (0.6) 81.0 — 81.0 Income from consolidated subsidiaries 141.3 320.1 294.0 — (755.4) — Gain on sale of real estate, net — — 65.9 272.1 — 338.0 Transaction-related expenses — (0.2) (0.3) (0.4) — (0.9) Interest expense — (69.5) (52.3) (89.4) — (211.2) Other income — 2.2 (0.7) 3.0 — 4.5 Income before provision from income taxes 107.8 166.5 320.8 311.7 (755.4) 151.4 Provision for income taxes — (25.2) (0.7) (17.7) — (43.6) Net income 107.8 141.3 320.1 294.0 (755.4) 107.8 Net loss attributable to the noncontrolling interests — — — 2.3 — 2.3 Preferred dividends and accretion of preferred stock issuance costs (17.2) — — — — (17.2) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 90.6 $ 141.3 $ 320.1 $ 296.3 $ (755.4) $ 92.9 CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2019 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 173.6 $ 273.8 $ — $ 447.4 Hotel — — — 80.5 — 80.5 Sale of real estate — — — 1.1 — 1.1 Investment management, property services, and research fees — 0.8 36.6 3.3 — 40.7 Total revenue — 0.8 210.2 358.7 — 569.7 Expenses Rental — — 64.3 88.6 — 152.9 Hotel — — — 60.1 — 60.1 Cost of real estate sold — — — 1.2 — 1.2 Commission and marketing — — 3.8 — — 3.8 Compensation and related 31.8 75.0 39.2 5.8 — 151.8 General and administrative — 19.8 15.9 6.7 — 42.4 Depreciation and amortization — 1.1 62.5 124.0 — 187.6 Total expenses 31.8 95.9 185.7 286.4 — 599.8 Income from unconsolidated investments — 0.1 83.3 96.3 — 179.7 Income from consolidated subsidiaries 352.8 547.7 479.8 — (1,380.3) — Gain on sale of real estate, net — — 8.2 426.2 — 434.4 Transaction-related expenses — (3.1) (0.2) (3.5) — (6.8) Interest expense — (69.5) (49.2) (96.4) — (215.1) Other income (loss) 0.1 (0.3) 0.2 0.4 — 0.4 Income before (provision for) benefit from income taxes 321.1 379.8 546.6 495.3 (1,380.3) 362.5 (Provision for) benefit from income taxes — (26.9) 1.1 (15.6) — (41.4) Net income 321.1 352.9 547.7 479.7 (1,380.3) 321.1 Net income attributable to the noncontrolling interests — — — (94.4) — (94.4) Preferred dividends and accretion of preferred stock issuance costs (2.6) — — — — (2.6) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 318.5 $ 352.9 $ 547.7 $ 385.3 $ (1,380.3) $ 224.1 CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2018 ( Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries (1) Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Rental $ — $ — $ 168.4 $ 346.2 $ — $ 514.6 Hotel — — — 155.7 — 155.7 Sale of real estate — — — 56.8 — 56.8 Investment management, property services, and research fees — — 41.9 3.4 — 45.3 Total revenue — — 210.3 562.1 — 772.4 Expenses Rental — — 62.3 98.5 — 160.8 Hotel — — — 121.5 — 121.5 Cost of real estate sold — — — 52.5 — 52.5 Commission and marketing — — 5.9 — — 5.9 Compensation and related 37.1 71.3 55.1 5.3 — 168.8 General and administrative — 20.3 21.2 9.3 — 50.8 Depreciation and amortization — 1.3 56.9 147.9 — 206.1 Total expenses 37.1 92.9 201.4 435.0 — 766.4 Income from unconsolidated investments — (1.3) 60.3 19.7 — 78.7 Income from consolidated subsidiaries 249.2 451.3 332.7 — (1,033.2) — Gain on sale of real estate, net — — 61.4 310.4 — 371.8 Gain on sale of business — — 40.4 — — 40.4 Transaction-related expenses — (0.1) (1.1) (0.5) — (1.7) Interest expense — (77.1) (52.8) (108.3) — (238.2) Other income (loss) — 13.3 0.1 (0.3) — 13.1 Income (loss) before (provision for) benefit from income taxes 212.1 293.2 449.9 348.1 (1,033.2) 270.1 (Provision for) benefit from income taxes — (44.0) 1.4 (15.4) — (58.0) Net income 212.1 249.2 451.3 332.7 (1,033.2) 212.1 Net income attributable to the noncontrolling interests — — — (62.1) — (62.1) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 212.1 $ 249.2 $ 451.3 $ 270.6 $ (1,033.2) $ 150.0
Consolidated Statement of Comprehensive Income	CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2020 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 107.8 $ 141.3 $ 320.1 $ 294.0 $ (755.4) $ 107.8 Other comprehensive income (loss), net of tax: Unrealized foreign currency translation gain (loss) 66.5 66.5 (3.5) 65.0 (128.0) 66.5 Amounts reclassified from accumulated other comprehensive income 0.8 0.8 — 0.2 (1.0) 0.8 Unrealized forward contract forward currency (loss) gain (37.8) (37.8) 5.0 (42.8) 75.6 (37.8) Unrealized loss on interest rate swaps (5.3) (5.3) — — 5.3 (5.3) Total other comprehensive income for the period $ 24.2 $ 24.2 $ 1.5 $ 22.4 $ (48.1) $ 24.2 Comprehensive income $ 132.0 $ 165.5 $ 321.6 $ 316.4 $ (803.5) $ 132.0 Comprehensive income attributable to noncontrolling interests — — — 1.7 — 1.7 Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 132.0 $ 165.5 $ 321.6 $ 318.1 $ (803.5) $ 133.7 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2019 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 321.1 $ 352.9 $ 547.7 $ 479.7 $ (1,380.3) $ 321.1 Other comprehensive (loss) income, net of tax: Unrealized foreign currency translation loss (13.3) (13.3) 16.1 (4.7) 1.9 (13.3) Amounts reclassified from accumulated other comprehensive income 10.4 10.4 — 10.4 (20.8) 10.4 Unrealized forward contract forward currency gain (loss) 38.7 38.7 (15.4) 54.1 (77.4) 38.7 Unrealized loss on interest rate swaps (0.7) (0.7) — — 0.7 (0.7) Total other comprehensive income for the period 35.1 35.1 0.7 59.8 (95.6) 35.1 Comprehensive income $ 356.2 $ 388.0 $ 548.4 $ 539.5 $ (1,475.9) $ 356.2 Comprehensive income attributable to noncontrolling interests — — — (105.0) — (105.0) Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 356.2 $ 388.0 $ 548.4 $ 434.5 $ (1,475.9) $ 251.2 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2018 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Net income $ 212.1 $ 249.2 $ 451.3 $ 332.7 $ (1,033.2) $ 212.1 Other comprehensive loss, net of tax: Unrealized foreign currency translation loss (62.6) (62.6) (45.7) (61.6) 169.9 (62.6) Amounts reclassified from accumulated other comprehensive income 13.2 13.2 — 18.3 (31.5) 13.2 Unrealized forward contract forward currency gain (loss) 38.3 38.3 46.1 (7.8) (76.6) 38.3 Total other comprehensive loss for the period (11.1) (11.1) 0.4 (51.1) 61.8 (11.1) Comprehensive income $ 201.0 $ 238.1 $ 451.7 $ 281.6 $ (971.4) $ 201.0 Comprehensive income attributable to noncontrolling interests — — — (65.4) — (65.4) Comprehensive income attributable to Kennedy-Wilson Holdings, Inc. $ 201.0 $ 238.1 $ 451.7 $ 216.2 $ (971.4) $ 135.6
Condensed Consolidated Statements of Cash Flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2020 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash provided by (used in) operating activities $ 3.4 $ (136.9) $ 14.4 $ 106.5 $ (12.6) Cash flows from investing activities: Proceeds from collection of loans — — — 34.1 34.1 Issuance of loans — (7.6) — (81.0) (88.6) Investment in marketable securities (12.1) — — (12.1) Proceeds from sale of marketable securities — 10.2 — — 10.2 Net proceeds from sale of consolidated real estate — — 167.5 660.3 827.8 Purchases of consolidated real estate — — (28.0) (42.1) (70.1) Capital expenditures to real estate — — (59.1) (135.0) (194.1) Investing distributions from unconsolidated investments — 4.0 44.1 129.4 177.5 Contributions to unconsolidated investments — (0.1) (19.2) (92.3) (111.6) Proceeds from settlement of foreign currency derivative contracts — — 15.5 — 15.5 Proceeds from development project asset — — — 2.2 2.2 Distributions from (investments in) consolidated subsidiaries, net 162.9 45.9 2.7 (211.5) — Net cash (used in) provided by investing activities 162.9 40.3 123.5 264.1 590.8 Cash flow from financing activities: Borrowings under line of credit/term loan — 200.0 — — 200.0 Borrowings under mortgage debt — — 84.0 212.4 296.4 Repayment of mortgage debt — — (149.3) (337.8) (487.1) Payment of loan fees — (4.3) (0.8) (0.5) (5.6) Borrowings (repayment) of shareholder loans to noncontrolling interests — — — 1.2 1.2 Repurchase of common stock (57.4) — — — (57.4) Common stock dividends paid (126.1) — — — (126.1) Preferred stock dividends paid (13.6) — — — (13.6) Contributions from noncontrolling interests — — — 4.5 4.5 Distributions to noncontrolling interests — — — (18.9) (18.9) Net cash (used in) provided by financing activities (197.1) 195.7 (66.1) (139.1) (206.6) Effect of currency exchange rate changes on cash and cash equivalents — — — 19.6 19.6 Net change in cash and cash equivalents (30.8) 99.1 71.8 251.1 391.2 Cash and cash equivalents, beginning of year 30.8 6.4 102.7 434.0 573.9 Cash and cash equivalents, end of year $ — $ 105.5 $ 174.5 $ 685.1 $ 965.1 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2019 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities $ (3.7) $ (130.4) $ 24.1 $ 90.5 $ (19.5) Cash flows from investing activities: Issuance of loans — — (2.3) (0.4) (2.7) Collections of loans — — 0.6 — 0.6 Net proceeds from sale of real estate — — 27.6 673.4 701.0 Purchases of and additions to real estate — — (97.5) (113.4) (210.9) Capital expenditures to real estate — — (59.8) (131.3) (191.1) Investing distributions from unconsolidated investments — 0.8 80.6 33.6 115.0 Contributions to unconsolidated investments — (1.7) (153.9) (110.4) (266.0) Proceeds from settlement of foreign currency derivative contracts — — 33.4 — 33.4 Additions to development project asset — — — (1.2) (1.2) Proceeds from development project asset — — — 4.2 4.2 (Investments in) distributions from consolidated subsidiaries, net (122.5) 210.8 160.3 (248.6) — Net cash (used in) provided by investing activities (122.5) 209.9 (11.0) 105.9 182.3 Cash flow from financing activities: Borrowings under line of credit/term loan — 125.0 — — 125.0 Repayment of line of credit/term loan — (200.0) — — (200.0) Borrowings under mortgage debt — — 3.5 485.1 488.6 Repayment of mortgage debt — — (15.0) (376.4) (391.4) Payment of loan fees — — (0.8) (4.0) (4.8) Repayment of shareholder loans to noncontrolling interests — — — (11.2) (11.2) Repurchase of common stock (20.7) — — — (20.7) Issuance of preferred stock 295.2 — — — 295.2 Common stock dividends paid (114.9) — — — (114.9) Preferred stock dividends paid (2.6) — — — (2.6) Contributions from noncontrolling interests — — — 15.0 15.0 Distributions to noncontrolling interests — — — (264.0) (264.0) Net cash provided by (used in) financing activities 157.0 (75.0) (12.3) (155.5) (85.8) Effect of currency exchange rate changes on cash and cash equivalents — — — 8.9 8.9 Net change in cash and cash equivalents 30.8 4.5 0.8 49.8 85.9 Cash and cash equivalents, beginning of year — 1.9 101.9 384.2 488.0 Cash and cash equivalents, end of year $ 30.8 $ 6.4 $ 102.7 $ 434.0 $ 573.9 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2018 ( Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Consolidated Total Net cash (used in) provided by operating activities: $ (1.2) $ (133.7) $ 66.3 $ 161.7 $ 93.1 Cash flows from investing activities: Additions to loans — — (0.9) (1.3) (2.2) Collections of loans — — 5.8 — 5.8 Nonrefundable escrow deposits — (5.0) — — (5.0) Net proceeds from sale of real estate — — 161.2 1,224.9 1,386.1 Net proceeds from sale of a business — — 43.4 — 43.4 Purchases of and additions to real estate — — (242.3) (113.5) (355.8) Capital expenditures to real estate — — (27.9) (188.1) (216.0) Investment in marketable securities — (0.2) — — (0.2) Proceeds from sale of marketable securities — — 7.4 — 7.4 Investing distributions from unconsolidated investments — — 25.9 37.8 63.7 Contributions to unconsolidated investments — (1.2) (92.9) (302.0) (396.1) Proceeds from settlement of foreign currency derivative contracts — 10.7 — — 10.7 Purchases of foreign currency derivative contracts — (0.6) — — (0.6) Additions to development project asset — — — (29.1) (29.1) Proceeds from development project asset — — — 81.0 81.0 Distributions from (investments in) consolidated subsidiaries, net 290.3 81.4 55.8 (427.5) — Net cash (used in) provided by investing activities 290.3 85.1 (64.5) 282.2 593.1 Cash flow from financing activities: Borrowings under senior notes payable — 246.6 — — 246.6 Borrowings under lines of credit/term loan — 225.0 — — 225.0 Repayment of lines of credit/term loan — (450.0) — — (450.0) Borrowings under mortgage debt — — 325.3 399.7 725.0 Repayment of mortgage debt — — (278.1) (588.7) (866.8) Debt issue costs — (4.5) (2.0) (3.0) (9.5) Repurchase of common stock (177.9) — — — (177.9) Dividends paid (111.2) — — — (111.2) KWE closing dividend — — — (17.2) (17.2) Contributions from noncontrolling interests — — — 23.2 23.2 Distributions to noncontrolling interests — — — (116.0) (116.0) Net cash provided by (used in) financing activities (289.1) 17.1 45.2 (302.0) (528.8) Effect of currency exchange rate changes on cash and cash equivalents — — — (20.7) (20.7) Net change in cash and cash equivalents — (31.5) 47.0 121.2 136.7 Cash and cash equivalents, beginning of year — 33.4 54.9 263.0 351.3 Cash and cash equivalents, end of year $ — $ 1.9 $ 101.9 $ 384.2 $ 488.0

UNAUDITED QUARTERLY INFORMATI_2

UNAUDITED QUARTERLY INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	(Dollars in millions, except earnings per share amounts) Year ended December 31, 2020 Fourth Third Second First Revenues $ 106.5 $ 114.2 $ 106.9 $ 123.3 Expenses 149.0 116.3 115.8 129.8 Other income (expenses) (1) 268.9 (30.4) (33.4) 6.3 Income (loss) before provision for income taxes 226.4 (32.5) (42.3) (0.2) (Provision for) benefit from income taxes (53.9) 12.8 3.2 (5.7) Net income (loss) 172.5 (19.7) (39.1) (5.9) Net income (loss) attributable to noncontrolling interests 1.8 (1.1) 1.3 0.3 Preferred dividends and accretion of preferred stock issuance costs $ (4.3) $ (4.3) $ (4.3) $ (4.3) Net income (loss) attributable to Kennedy-Wilson $ 170.0 $ (25.1) $ (42.1) $ (9.9) Basic earnings (loss) per share $ 1.23 $ (0.18) $ (0.30) $ (0.07) Diluted earnings (loss) per share $ 1.21 $ (0.18) $ (0.30) $ (0.07) (1) The fourth quarter of 2020 includes $287.0 million of gain on sale of real estate, net relating to the sale of Baggot Plaza, Club Palisades and the sale of assets to the Industrial JV. (Dollars in millions, except earnings per share amounts) Year ended December 31, 2019 Fourth Third Second First Revenues $ 142.3 $ 143.0 $ 143.7 $ 140.7 Expenses 155.0 147.9 143.8 153.1 Other income (1) 177.9 34.5 162.2 18.0 Income before provision for income taxes 165.2 29.6 162.1 5.6 Provision for income taxes (6.3) (10.2) (20.9) (4.0) Net income 158.9 19.4 141.2 1.6 Net loss (income) attributable to noncontrolling interests 1.6 1.3 (90.4) (6.9) Preferred dividends and accretion of preferred stock issuance costs $ (2.6) $ — $ — $ — Net income (loss) attributable to Kennedy-Wilson $ 157.9 $ 20.7 $ 50.8 $ (5.3) Basic earnings (loss) per share $ 1.13 $ 0.15 $ 0.36 $ (0.04) Diluted earnings (loss) per share $ 1.12 $ 0.15 $ 0.36 $ (0.04) (1)

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Unconsolidated Investments (Details)	Dec. 31, 2020investment
Accounting Policies [Abstract]
Number of investments, fair value option	29

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Goodwill impairment loss	$ 0	$ 0	$ 0

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Restricted cash	$ 101.7	$ 54.5	$ 88

BASIS OF PRESENTATION AND SUM_6

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income (loss) from unconsolidated investments	$ (81)	$ (179.7)	$ (78.7)
Operating lease, right-of-use asset	11.2	13.6
Total lease liabilities	$ 11.2
Operating lease, weighted average remaining lease term	95 years
Operating lease, weighted average discount rate, percent	2.90%
Loan purchases and originations	$ 107.1	37.5
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset				$ 13.6
Total lease liabilities				$ 13.6
COVID-19
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable, credit loss expense (reversal)	15	$ 0
Increase (decrease) in leasing receivables	13.5
Income (loss) from unconsolidated investments	$ 1.5

REAL ESTATE AND ACQUIRED IN P_3

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE - Schedule of Investments in Consolidated Properties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Land	$ 1,225.1	$ 1,330.6
Buildings	3,436	3,630.4
Building improvements	546.6	469.5
Acquired in-place lease values	327.8	352.9
Real estate investment, at cost	5,535.5	5,783.4
Less accumulated depreciation and amortization	(815)	(703.2)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	$ 4,720.5	5,080.2
Leases, Acquired-in-Place
Real Estate Properties [Line Items]
Weighted-average lease term	7 years 6 months
Buildings, Building Improvements and Acquired In-Place Lease Values
Real Estate Properties [Line Items]
Depreciation and amortization expense	$ 165.7	$ 173.4	$ 190.3
Building and Building Improvements | Maximum
Real Estate Properties [Line Items]
Estimated useful life (not to exceed)	40 years

REAL ESTATE AND ACQUIRED IN P_4

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE - Schedule of Consolidated Acquisitions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)property
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	$ 13.4	$ 76.1
Building	95.1	193.9
Acquired in place lease values	0.5	43.5
Investment debt	38.7	214.8
KWH Shareholders' Equity	147.8	98.7
Western U.S. | Multifamily
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	13.4
Building	53.6
Acquired in place lease values	0.5
Investment debt	38.7
KWH Shareholders' Equity	$ 106.3
Western U.S. | Multifamily | Multifamily
Business Acquisition [Line Items]
Number of properties acquired | property	1
Western U.S. | Multifamily and Commercial
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land		39.9
Building		123
Acquired in place lease values		37.2
Investment debt		112.2
KWH Shareholders' Equity		$ 87.9
Western U.S. | Multifamily and Commercial | Multifamily
Business Acquisition [Line Items]
Number of properties acquired | property		1
Western U.S. | Multifamily and Commercial | Commercial
Business Acquisition [Line Items]
Number of properties acquired | property		1
United Kingdom | Industrial
Business Acquisition [Line Items]
Number of properties acquired | property	1
United Kingdom | Commercial and Industrial Properties
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	$ 0	$ 29
Building	40.2	39.2
Acquired in place lease values	0	2.9
Investment debt	0	58.6
KWH Shareholders' Equity	40.2	$ 12.5
United Kingdom | Commercial and Industrial Properties | Commercial
Business Acquisition [Line Items]
Number of properties acquired | property		1
United Kingdom | Commercial and Industrial Properties | Industrial
Business Acquisition [Line Items]
Number of properties acquired | property		1
Ireland | Commercial Property Acquired
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	0	$ 7.2
Building	1.3	31.7
Acquired in place lease values	0	3.4
Investment debt	0	44
KWH Shareholders' Equity	$ 1.3	$ (1.7)
Ireland | Commercial Property Acquired | Commercial
Business Acquisition [Line Items]
Number of properties acquired | property	1	1

REAL ESTATE AND ACQUIRED IN P_5

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE - Gains on Real Estate, Net (Details)	12 Months Ended
	Dec. 31, 2020USD ($)assetproperty	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property
Real Estate [Line Items]
Impairment of Real Estate | $		$ 0
Consolidated | $	$ 353,600,000	434,900,000	$ 369,600,000
NCI | $	0	116,700,000	70,600,000
Net of NCI | $	$ 353,600,000	$ 318,200,000	$ 299,000,000
United Kingdom
Real Estate [Line Items]
Number of real estate properties sold	5
Retail Site and Residential | United Kingdom And United States
Real Estate [Line Items]
Impairment of Real Estate | $	$ 15,600,000
Retail | United Kingdom
Real Estate [Line Items]
Number of real estate properties sold	19
Retail | Spain
Real Estate [Line Items]
Number of real estate properties sold	1	10
Retail | United States
Real Estate [Line Items]
Number of real estate properties sold		5
Residential | Ireland
Real Estate [Line Items]
Number of real estate properties sold			1
Residential | United States
Real Estate [Line Items]
Number of real estate properties sold			1
Office | United Kingdom
Real Estate [Line Items]
Impairment of Real Estate | $			$ 1,800,000
Number of real estate properties sold	3
Office | Ireland
Real Estate [Line Items]
Number of real estate properties sold	2
Industrial | United Kingdom
Real Estate [Line Items]
Number of real estate properties sold	20
Multifamily | United Kingdom
Real Estate [Line Items]
Number of real estate properties sold | asset	1
Multifamily | Ireland
Real Estate [Line Items]
Number of real estate properties sold	2		6
Multifamily | United States
Real Estate [Line Items]
Number of real estate properties sold	1	1	3
Commercial | United Kingdom
Real Estate [Line Items]
Number of real estate properties sold		11	26
Commercial | Ireland
Real Estate [Line Items]
Number of real estate properties sold			3
Commercial | Italy
Real Estate [Line Items]
Number of real estate properties sold			2
Hotel | United Kingdom
Real Estate [Line Items]
Number of real estate properties sold		1
Hotel | Ireland
Real Estate [Line Items]
Number of real estate properties sold		1
Hotel | United States
Real Estate [Line Items]
Number of real estate properties sold		1

REAL ESTATE AND ACQUIRED IN P_6

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE - Deconsolidation of Previously Consolidated Real Estate (Details) - USD ($) $ in Millions	Dec. 18, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Line Items]
Deconsolidation, gain (loss)		$ 287	$ 112.4
GIC Joint Venture
Real Estate [Line Items]
Deconsolidation, gain (loss)	$ 126.3
Axa Joint Venture
Real Estate [Line Items]
Deconsolidation, gain (loss)				$ 212.4	$ 102.7
Axa Joint Venture | Kennedy Wilson Holdings, Inc. and AXS Investment Managers
Real Estate [Line Items]
Deconsolidation, gain (loss)				$ 317.8	$ 169.5

- Real Estate and In-Place Leas

- Real Estate and In-Place Lease Value - Future Minimum Lease To Be Received (Details) $ in Millions	Dec. 31, 2020USD ($)
Real Estate [Abstract]
2021	$ 167.9
2022	156.7
2023	127.8
2024	105.2
2025	87.9
Thereafter	355.3
Total	$ 1,000.8

UNCONSOLIDATED INVESTMENTS - Na

UNCONSOLIDATED INVESTMENTS - Narrative (Details) ft² in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)ft²joint_ventureassetpropertyproperty_unitfund	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 18, 2020industrialAsset
Schedule of Equity Method Investments [Line Items]
Proceeds from equity method investments		$ 237.2
Interest income recognized		81	$ 179.7	$ 78.7
Fair value gains		47.2	64.7	10.4
Income (loss) from unconsolidated investments, residential		16.4
Income (loss) from unconsolidated investments, other		24.4
Fair value of unconsolidated investments		$ 1,136.5	1,099.3
Number of assets | asset		13
Income from unconsolidated investments, net of depreciation and amortization		$ 81	179.7	78.7
Net proceeds from sale of a business			0	43.4
Gain on sale of business		$ 0	0	40.4
Number of joint ventures with unfulfilled capital commitments | joint_venture		4
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments		$ 97.4
Equity Method Investments Closed-End Funds
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments		$ 77.2
Number of closed-end funds | fund		3
Development Project Equity Commitments
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments		$ 155.9
Disposal Group, Disposed of by Sale | Meyers Research Sale
Schedule of Equity Method Investments [Line Items]
Net proceeds from sale of a business	$ 48
Gain on sale of business	$ 40.4
United Kingdom
Schedule of Equity Method Investments [Line Items]
Number of real estate properties sold | property		5
Industrial | United Kingdom
Schedule of Equity Method Investments [Line Items]
Number of real estate properties sold | property		20
Multifamily | United Kingdom
Schedule of Equity Method Investments [Line Items]
Number of real estate properties sold | asset		1
Recurring
Schedule of Equity Method Investments [Line Items]
Fair value of unconsolidated investments		$ 1,136.5	1,099.3
Joint Venture
Schedule of Equity Method Investments [Line Items]
Payments to joint venture		$ 111.6
Joint Venture | Multifamily | Western U.S.
Schedule of Equity Method Investments [Line Items]
Number of real estate properties sold | property		2
Industrial JV
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures		$ 19
Industrial JV | United Kingdom
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage					20.00%
Industrial JV | Industrial | United Kingdom
Schedule of Equity Method Investments [Line Items]
Number of assets | industrialAsset					18
Industrial JV | Industrial JV Investment Managers
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage					80.00%
Vintage Housing Holdings
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures		142.9	142.8
Income from unconsolidated investments, net of depreciation and amortization		22.8	50	$ 27.3
KW Europe Fund II
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures		19.1
Axa Joint Venture
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures		$ 507.5	$ 479.4
Area of real estate property (in sq ft) | ft²		0.4
Axa Joint Venture | Multifamily
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage			80.00%
Axa Joint Venture | Multifamily | Dublin, Ireland
Schedule of Equity Method Investments [Line Items]
Number of units | property_unit		2,536
Axa Joint Venture | AXA Investment Managers
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		50.00%
Meyers Research
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	11.00%			11.00%
Investments in joint ventures		$ 19
Payments to acquire interest in joint venture	$ 15
Minimum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		5.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		50.00%

UNCONSOLIDATED INVESTMENTS - Sc

UNCONSOLIDATED INVESTMENTS - Schedule of Joint Ventures (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 1,289.3	$ 1,326.5
Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	615.9	609.2
Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	269.1	266.2
Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	86.3	72.8
Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	137.2	139.6
Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	180.8	238.7
Western U.S.
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	694.4	759.7
Western U.S. | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	226.2	230.5
Western U.S. | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	83	78.1
Western U.S. | Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	86.3	72.8
Western U.S. | Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	118.1	139.6
Western U.S. | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	180.8	238.7
Ireland
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	523.1	518.1
Ireland | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	389.7	378.7
Ireland | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	129.7	139.4
Ireland | Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Ireland | Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	3.7	0
Ireland | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
United Kingdom
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	71.8	48.7
United Kingdom | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
United Kingdom | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	56.4	48.7
United Kingdom | Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
United Kingdom | Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	15.4	0
United Kingdom | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 0	$ 0

UNCONSOLIDATED INVESTMENTS - Ca

UNCONSOLIDATED INVESTMENTS - Cash Distributions by Investment Type and Location (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Operating	$ 59.7
Investing	177.5
Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	34.3
Investing	31.2
Commercial
Schedule of Equity Method Investments [Line Items]
Operating	18.6
Investing	99.7
Funds
Schedule of Equity Method Investments [Line Items]
Operating	6.8
Investing	13.3
Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	33.3
Western U.S.
Schedule of Equity Method Investments [Line Items]
Operating	38.9
Investing	77.9
Western U.S. | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	25.8
Investing	28.7
Western U.S. | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	6.4
Investing	2.6
Western U.S. | Funds
Schedule of Equity Method Investments [Line Items]
Operating	6.7
Investing	13.3
Western U.S. | Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	33.3
Ireland
Schedule of Equity Method Investments [Line Items]
Operating	20.8
Investing	98.5
Ireland | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	8.5
Investing	2.5
Ireland | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	12.2
Investing	96
Ireland | Funds
Schedule of Equity Method Investments [Line Items]
Operating	0.1
Investing	0
Ireland | Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
United Kingdom
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	1.1
United Kingdom | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
United Kingdom | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	1.1
United Kingdom | Funds
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
United Kingdom | Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	$ 0

UNCONSOLIDATED INVESTMENTS - In

UNCONSOLIDATED INVESTMENTS - Income from Unconsolidated Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Income from unconsolidated investments - operating performance	$ 43.4	$ 35.5	$ 18.8
Income from unconsolidated investments - realized gains	0	53.5	22.1
Income from unconsolidated investments - fair value	47.2	64.7	10.4
Income from unconsolidated investments - performance fees	2.7	36.3	27.4
Income from unconsolidated investments - realized losses and impairment	(12.3)	(10.3)	0
Total interest income and foreign currency gain (loss)	$ 81	$ 179.7	$ 78.7

FAIR VALUE MEASUREMENTS AND T_3

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	$ 1,136.5	$ 1,099.3
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	1,136.5	1,099.3
Total	1,072.5	1,064.6
Recurring | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	(64)	(34.7)
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	0	0
Total	0	0
Recurring | Level 1 | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	0	0
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	0	0
Total	(64)	(34.7)
Recurring | Level 2 | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	(64)	(34.7)
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	1,136.5	1,099.3
Total	1,136.5	1,099.3
Recurring | Level 3 | Currency Derivative Contract
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)	Dec. 31, 2020investment
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value option number of investments	29

FAIR VALUE MEASUREMENTS AND T_5

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Unconsolidated Investments Held at Fair Value (Details) - Equity Method Investments - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
FV Option	$ 999.2	$ 959.7
Funds	137.3	139.6
Total	$ 1,136.5	$ 1,099.3

FAIR VALUE MEASUREMENTS AND T_6

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Schedule of Changes in Level 3 Investments (Details) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in unrealized gain (losses) on level 3 investments	$ 27.4	$ 64.9
Equity Method Investments | Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,099.3	662.2	$ 380.7
Unrealized and realized gains	109.8	161.1	87.7
Unrealized and realized losses	(13.5)	(26.9)	(33.1)
Contributions	109.2	191.2	335.9
Distributions	(189.7)	(104.1)	(76.3)
Foreign Exchange	24.5	(3.4)	(4)
Non-cash contributions (distributions), net	(3.1)	219.2	(28.7)
Ending Balance	$ 1,136.5	$ 1,099.3	$ 662.2

FAIR VALUE MEASUREMENTS AND T_7

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Schedule of Significant Inputs (Details)	Dec. 31, 2020
Capitalization Rates | Multifamily | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0380
Capitalization Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0575
Capitalization Rates | Office | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0400
Capitalization Rates | Office | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0700
Capitalization Rates | Retail | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0500
Capitalization Rates | Retail | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0875
Capitalization Rates | Hotel | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0600
Discount Rates | Multifamily | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0575
Discount Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0815
Discount Rates | Office | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0500
Discount Rates | Office | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0900
Discount Rates | Retail | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0750
Discount Rates | Retail | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.1125
Discount Rates | Hotel | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0750
Discount Rates | Hotel | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0825
Discount Rates | Residential | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.1200
Measurement Input, Credit Spread | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0037
Measurement Input, Credit Spread | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0490

FAIR VALUE MEASUREMENTS AND T_8

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Derivatives Financial Instruments (Details) € in Millions, £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2020GBP (£)
Derivative [Line Items]
Hedge Asset	$ 12	$ 32.6
Interest Expense	211.2	$ 215.1	$ 238.2
Foreign Exchange Contract | Foreign Currency Derivative Contracts
Cash Received (Paid)
Deferred taxes on unrealized gains (losses), arising during the period	0.2
Designated as Hedging Instrument | Foreign Exchange Contract, One
Derivative [Line Items]
Notional | €				€ 232.5
Designated as Hedging Instrument | Foreign Exchange Contract, Two | KWE
Derivative [Line Items]
Notional | €				€ 212.6
Designated as Hedging Instrument | Foreign Exchange Contract, Four
Derivative [Line Items]
Notional | £					£ 410
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract
Derivative [Line Items]
Hedge Asset	12
Hedge Liability	75.9
Change in Unrealized (Losses) Gains	32.2
Realized (Losses) Gains	(17.3)
Interest Expense	9.3
Cash Received (Paid)
Total	15.4
Designated as Hedging Instrument | Level 2 | Derivatives Outstanding
Derivative [Line Items]
Hedge Asset	12
Hedge Liability	75.9
Change in Unrealized (Losses) Gains	17.4
Realized (Losses) Gains	(22)
Interest Expense	7.8
Cash Received (Paid)
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, One
Derivative [Line Items]
Hedge Asset	1.4
Hedge Liability	17.3
Change in Unrealized (Losses) Gains	(1.1)
Realized (Losses) Gains	(22)
Interest Expense	3.4
Cash Received (Paid)
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Two | KWE
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	34.7
Change in Unrealized (Losses) Gains	(3.7)
Realized (Losses) Gains	0
Interest Expense	0
Cash Received (Paid)
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Three | KWE
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized (Losses) Gains	35.1
Realized (Losses) Gains	0
Interest Expense	0
Cash Received (Paid)
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Four
Derivative [Line Items]
Hedge Asset	10.6
Hedge Liability	23.9
Change in Unrealized (Losses) Gains	(12.9)
Realized (Losses) Gains	0
Interest Expense	4.4
Cash Received (Paid)
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Derivative Settled
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized (Losses) Gains	14.8
Realized (Losses) Gains	4.7
Interest Expense	1.5
Cash Received (Paid)
Cash Received	15.4
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Five
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized (Losses) Gains	0.4
Realized (Losses) Gains	4.7
Interest Expense	0.6
Cash Received (Paid)
Cash Received	13.6
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Six
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized (Losses) Gains	(4)
Realized (Losses) Gains	0
Interest Expense	0
Cash Received (Paid)
Cash Paid	(17.1)
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Seven
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized (Losses) Gains	18.4
Realized (Losses) Gains	0
Interest Expense	0.9
Cash Received (Paid)
Cash Received	$ 18.9

FAIR VALUE MEASUREMENTS AND T_9

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Interest Rate Swaps and Fair Value of Financial Instruments, Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest expense	$ 211.2	$ 215.1	$ 238.2
Unrealized currency derivative contract gain (loss)			(38.3)
Estimate of Fair Value Measurement | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	4,900	5,200
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt carrying value	5,100	5,000
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional	138.4	138.4
Interest expense	1.2	0.2
Unrealized currency derivative contract gain (loss)	5.3	0.7	$ 0
Interest Rate Swap | Foreign Currency Derivative Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized currency derivative contract gain (loss)	6.9	$ 0.7
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax	$ 0.7

OTHER ASSETS - Schedule of Othe

OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other Assets [Abstract]
Loan purchases and originations	$ 107.1	$ 37.5
Straight line rent receivable	51.6	47.3
Deferred taxes, net	22.1	24.4
Goodwill	23.9	23.9
Other, net of accumulated amortization of $2.1 and $2.0 at December 31, 2020 and 2019, respectively	19	16.5
Hedge Asset	12	32.6
Prepaid expenses	11.8	14.3
Right of use asset, net	11.2	13.6
Leasing commissions, net of accumulated amortization of $7.4 and $4.7 at December 31, 2020 and 2019, respectively	10.2	11.9
Other Assets	306.2	271.8
Accumulated depreciation, depletion and amortization, property, plant, and equipment	27.2	21.9
Accumulated amortization, other	2.1	2
Accumulated amortization, above-market leases	58.3	51
Accumulated amortization, leasing commission	7.4	4.7
Furniture and equipment
Other Assets [Abstract]
Furniture and equipment net of accumulated depreciation of $27.2 and $21.9 at December 31, 2020 and December 31, 2019, respectively	22.3	23.7
Above market Leases
Other Assets [Abstract]
Above-market leases, net of accumulated amortization of $58.3 and $51.0 at December 31, 2020 and 2019, respectively	$ 15	$ 26.1

OTHER ASSETS - Additional Infor

OTHER ASSETS - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)lease	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Real Estate [Line Items]
Depreciation and amortization expense | $	$ 13.6	$ 14.2	$ 15.8
Sale of real estate
Real Estate [Line Items]
Operating lease	3
Ground Leases
Real Estate [Line Items]
Operating lease	4
Minimum
Real Estate [Line Items]
Loan receivable, interest rate, stated percentage	274.00%
Remaining operating lease terms	5 years
Maximum
Real Estate [Line Items]
Loan receivable, interest rate, stated percentage	1300.00%
Remaining operating lease terms	239 years

OTHER ASSETS - Schedule of Futu

OTHER ASSETS - Schedule of Future Minimum Rental Payments (Details) $ in Millions	Dec. 31, 2020USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
2021	$ 1.5
2022	1.5
2023	0.8
2024	0.5
2025	0.4
Thereafter	32.4
Total undiscounted rental payments	37.1
Less imputed interest	(25.9)
Total lease liabilities	$ 11.2

MORTGAGE DEBT - Schedule of Mor

MORTGAGE DEBT - Schedule of Mortgage Debt (Details) - Mortgage debt - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 2,602.4	$ 2,655.3
Unamortized loan fees	(12.6)	(14.3)
Total debt	2,589.8	2,641
Unamortized premium (discount)	4.5	4
Mortgage Loans Secured by Multi-Family Properties | Western U.S.
Debt Instrument [Line Items]
Debt (excluding loan fees)	1,345.5	1,324.7
Mortgage Loans Secured by Commercial | Western U.S.
Debt Instrument [Line Items]
Debt (excluding loan fees)	375.2	405.4
Mortgage Loans Secured by Commercial | United Kingdom
Debt Instrument [Line Items]
Debt (excluding loan fees)	429.6	514.5
Mortgage Loans Secured by Commercial | Ireland
Debt Instrument [Line Items]
Debt (excluding loan fees)	320.5	289.6
Mortgage Loans Secured by Commercial | Spain
Debt Instrument [Line Items]
Debt (excluding loan fees)	43.6	40.3
Mortgage Loans Secured by Hotel | Ireland
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 88	$ 80.8

MORTGAGE DEBT - Mortgage Debt,

MORTGAGE DEBT - Mortgage Debt, Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)loanacquisitionproperty	Dec. 31, 2019
Debt Instrument [Line Items]
Number of acquisitions partially financed with mortgages | acquisition	1
Number of existing mortgages refinanced | loan	4
Number of properties that acquired supplemental financing | property	5
Mortgage debt
Debt Instrument [Line Items]
Weighted-average interest rate of investment debt	3.31%	3.41%
Percent of property level debt with fixed rate	73.00%	76.00%
Percent of property level debt with floating rate and interest caps	13.00%	14.00%
Percent of property level debt with floating rate, without interest caps	14.00%	10.00%
Total waivers on debt covenants in loan agreements | $	$ 266.9
Percent of consolidated mortgage balance	1000.00%

MORTGAGE DEBT - Schedule of Mat

MORTGAGE DEBT - Schedule of Maturities (Details) - Mortgage debt - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
2021	$ 47.5
2022	330.9
2023	428.8
2024	206.1
2025	547.2
Thereafter	1,037.4
Long-term debt, gross	2,597.9
Unamortized debt premium	4.5
Unamortized loan fees	(12.6)	$ (14.3)
Total debt	$ 2,589.8	$ 2,641

KW UNSECURED DEBT - Schedule of

KW UNSECURED DEBT - Schedule of Unsecured Debt (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
KW unsecured debt
Debt Instrument [Line Items]
Debt, net of discount (premium)	$ 1,346.9	$ 1,146.1
Unamortized loan fees	(14.7)	(14.4)
Total debt	1,332.2	1,131.7
Unamortized discount	3.1	3.9
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt, net of discount (premium)	200	0
Senior Notes
Debt Instrument [Line Items]
Debt, net of discount (premium)	$ 1,146.9	$ 1,146.1

KW UNSECURED DEBT - Borrowings

KW UNSECURED DEBT - Borrowings Under Credit Facilities (Details) - USD ($)	Mar. 25, 2020	Dec. 31, 2020	Feb. 17, 2021	Dec. 31, 2019
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt (excluding loan fees)		$ 200,000,000		$ 0
A&R Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity and debt instrument, face amount		700,000,000
A&R Facility | Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 500,000,000	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
Remaining borrowing capacity		300,000,000
Average outstanding amount		146,400,000
A&R Facility | Line of Credit | Revolving Credit Facility | Subsequent Event
Line of Credit Facility [Line Items]
Debt (excluding loan fees)			$ 100,000,000
Remaining borrowing capacity			$ 400,000,000
A&R Facility | Line of Credit | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Fixed charge coverage ratio	1.70
Tangible net worth	$ 1,700,000,000
Liquidity	$ 75,000,000
A&R Facility | Line of Credit | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Secured recourse leverage ratio	3.50%
Liquidity	$ 299,000,000
Adjusted secured leverage ratio	55.00%
A&R Facility | Line of Credit | Revolving Credit Facility | LIBOR | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)	1.75%
A&R Facility | Line of Credit | Revolving Credit Facility | LIBOR | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)	2.50%
A&R Facility | Term Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 200,000,000

KW UNSECURED DEBT - 2024 Notes

KW UNSECURED DEBT - 2024 Notes (Details) - Senior Notes - USD ($)	Feb. 11, 2021	Jan. 27, 2021	Dec. 31, 2020	Mar. 02, 2018
5.875% Senior Notes Due 2024
Debt Instrument [Line Items]
Debt face value			$ 1,200,000,000
Interest rate (as a percent)				5.875%
Balance sheet leverage ratio				1.50
5.875% Senior Notes Due 2024 | Subsequent Event
Debt Instrument [Line Items]
Debt face value		$ 1,000,000,000
Repurchased face amount	$ 1,000,000,000	$ 1,000,000,000
4.75% Senior Notes Due 2029 and 5% Senior Notes Due 2031 | Subsequent Event
Debt Instrument [Line Items]
Debt face value	$ 1,000,000,000

KWE UNSECURED BONDS - Schedule

KWE UNSECURED BONDS - Schedule of KWE Unsecured Bonds (Details) - KWE unsecured bonds - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Outstanding debt	$ 1,172.5	$ 1,274.2
Unamortized premium (discount)	(2.8)	(3.1)
KWE
Debt Instrument [Line Items]
Debt (excluding loan fees)	1,174.4	1,277.6
Unamortized loan fees	(1.9)	(3.4)
Outstanding debt	1,172.5	1,274.2
KWE | KWE Bonds
Debt Instrument [Line Items]
Debt (excluding loan fees)	504.7	662.9
KWE | KWE Euro Medium Term Note Programme
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 669.7	$ 614.7

KWE UNSECURED BONDS - Additiona

KWE UNSECURED BONDS - Additional Information (Details)	Oct. 22, 2020USD ($)	Oct. 07, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020GIP (£)	Dec. 31, 2020GBP (£)	Oct. 22, 2020GBP (£)	Oct. 07, 2020GBP (£)
Debt Instrument [Line Items]
Unrealized foreign currency translation loss			$ (66,500,000)		$ 13,300,000	$ 62,600,000
KWE unsecured bonds | KWE
Debt Instrument [Line Items]
Debt (excluding loan fees)			$ 1,174,400,000		1,277,600,000
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 unsecured bonds | KWE | KWE Bonds
Debt Instrument [Line Items]
Debt face value							£ 500,000,000			£ 500,000,000
Interest rate (as a percent)			3.95%				3.95%	3.95%
Debt (excluding loan fees)			$ 504,700,000		662,900,000
Effective interest rate			3.35%				3.35%	3.35%
Percentage of proceeds converted to Euros with swaps			50.00%	50.00%
Repurchased face amount		$ 177,700,000								£ 130,200,000
Percentage of repurchase amount		26.04%								26.04%
Percentage of principal amount redeemed		101.00%
Total repurchase amount | £									£ 133,100,000
Interest expense	$ 2,300,000
KWE unsecured bonds | KWE | KWE Euro Medium Term Note Programme
Debt Instrument [Line Items]
Debt face value			$ 2,700,000,000					£ 2,000,000,000
Debt (excluding loan fees)			669,700,000		$ 614,700,000
Proceeds from issuance of debt			$ 672,400,000	€ 550,000,000
Annual fixed coupon rate			3.25%				3.25%	3.25%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Millions

Oct. 02, 2020employeeindependentContractor

Dec. 31, 2020USD ($)

Sep. 30, 2020USD ($)

Jun. 30, 2020USD ($)

Mar. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Sep. 30, 2019USD ($)

Jun. 30, 2019USD ($)

Mar. 31, 2019USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Related Party Transaction [Line Items]

Related party fees

$ 22.7

$ 26.1

$ 15.3

Revenues

$ 106.5

$ 114.2

$ 106.9

$ 123.3

$ 142.3

$ 143

$ 143.7

$ 140.7

450.9

569.7

772.4

Related Party Transaction, Trademark License Use | Management

Related Party Transaction [Line Items]

Period of license to use trademark (in years)

2 years

Extension option (in years)

2 years

Related Party Transaction, Line of Credit | Management

Related Party Transaction [Line Items]

Period of license to use trademark (in years)

3 years

Related Party Transaction, Employee Retention | Management

Related Party Transaction [Line Items]

Number of employees retained after sale | employee

110

Independent Contractors Employed | independentContractor

25

Elimination

Related Party Transaction [Line Items]

Revenues

0

0

0

Elimination | Management Service

Related Party Transaction [Line Items]

Revenues

$ 1.1

$ 18.1

$ 13.6

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ (37)	$ 249.5	$ 156.5
Foreign	188.4	113	113.6
Total	$ 151.4	$ 362.5	$ 270.1

INCOME TAXES - Schedule of (Ben

INCOME TAXES - Schedule of (Benefit from) Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Federal
Current									$ 0	$ 0	$ 0
Deferred									23.3	31.2	33.4
Total federal tax expense (benefit)									23.3	31.2	33.4
State
Current									1.5	0.3	0
Deferred									0.4	(4.6)	10.6
Total state tax expense (benefit)									1.9	(4.3)	10.6
Foreign
Current									14.9	14.4	18.4
Deferred									3.5	0.1	(4.4)
Total foreign tax expense (benefit)									18.4	14.5	14
Provision for income taxes	$ 53.9	$ (12.8)	$ (3.2)	$ 5.7	$ 6.3	$ 10.2	$ 20.9	$ 4	$ 43.6	$ 41.4	$ 58

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of the Statutory Federal Income Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory rate									21.00%
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Tax computed at the statutory rate									$ 31.8	$ 76.1	$ 56.7
Tax deduction in excess of book compensation from restricted stock vesting									0.1	0.3	1.8
Domestic permanent differences, primarily disallowed executive compensation									7.2	6.1	3.8
Foreign permanent differences, primarily non-deductible depreciation, amortization and interest expenses in the United Kingdom									2	1.3	1.4
Effect of foreign tax operations on U.S. taxes, net of foreign tax credits and valuation allowance									(3.7)	(16.8)	1.1
Noncontrolling interests									(0.9)	(22.2)	(15.1)
State income taxes, net of federal benefit									2.9	0	8
Other									4.2	(3.4)	0.3
Provision for income taxes	$ 53.9	$ (12.8)	$ (3.2)	$ 5.7	$ 6.3	$ 10.2	$ 20.9	$ 4	$ 43.6	$ 41.4	$ 58

INCOME TAXES - Schedule of Defe

INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Foreign currency translation	$ 3.7	$ 4.9
Net operating loss carryforward and credits	137.1	138.6
Investment basis difference	91.2	96.2
Stock option expense	3	1.3
Hedging transactions	13.4	7.2
Lease liability	0.1
Accrued reserves	0.6
Total deferred tax assets	249.1	248.2
Valuation allowance	(204.4)	(209.2)
Net deferred tax assets	44.7	39
Deferred tax liabilities:
Investment basis and reserve differences	159.5	145.7
Depreciation and amortization	20	2.8
Right of use asset	0.1	0
Prepaid expenses and other	2.8	2.4
Capitalized interest	1.3	1.3
Total deferred tax liabilities	183.7	152.2
Deferred tax liability, net	$ (139)	$ (113.2)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Apr. 05, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Deferred tax asset	$ 249,100,000	$ 248,200,000
Valuation allowance	204,400,000	209,200,000
Increase (decrease) in valuation on deferred tax assets	4,800,000	78,100,000
Gross unrecognized tax benefits	0	0
KWE
Operating Loss Carryforwards [Line Items]
Foreign partnership investment basis difference		66,500,000		$ 98,300,000
Valuation allowance		$ 66,500,000		$ 98,300,000
Her Majesty's Revenue and Customs (HMRC)
Operating Loss Carryforwards [Line Items]
Deferred tax asset			$ 107,000,000
Valuation allowance	97,800,000
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	2,300,000
State and Local Jurisdiction | California
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	96,500,000
State and Local Jurisdiction | Other States
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	9,300,000
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	245,500,000
Tax credit	$ 67,200,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Schedule of Future Minimum Lease Payments (Details) $ in Millions	Dec. 31, 2020USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2021	$ 1.5
2022	1.5
2023	0.8
2024	0.5
2025	0.4
Thereafter	32.4
Total undiscounted rental payments	$ 37.1

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Commitments [Line Items]
Rental expense	$ 1	$ 1.4	$ 4.1
Unfunded Capital Commitments To Joint Ventures
Other Commitments [Line Items]
Other commitment	97.4	$ 109.2
Development Project Equity Commitments
Other Commitments [Line Items]
Other commitment	$ 155.9

STOCK COMPENSATION PLANS - Addi

STOCK COMPENSATION PLANS - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended							31 Months Ended	78 Months Ended
	Jun. 30, 2017	Jul. 31, 2014	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2019	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, granted in period (in shares)			2,543,551	64,458
Restricted shares vested (in shares)			1,279,433	1,729,046
Restricted shares forfeited (in shares)			62,710	0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares paid for tax withholding for share-based compensation (in shares)				571,983	764,909	486,032
Payments related to tax withholding for share-based compensation			$ 11.6		$ 16.4	$ 8.8
Compensation expense			$ 32.3	$ 30.2	$ 37.1
2014 Amended and Restated Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)		6,000,000
Restricted stock, granted in period (in shares)							1,000,000	1,700,000	3,300,000
Vesting period		4 years
Postvesting restriction period		3 years
Discount for postvesting restrictions		15.00%
Restricted shares vested (in shares)											5,949,100
Restricted shares forfeited (in shares)											136,400
2014 Amended and Restated Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
2014 Amended and Restated Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		5 years
2017 Amended and Restated Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	3,300,000
Restricted stock, granted in period (in shares)			2,000,000	1,900,000	1,400,000
Vesting period	3 years
Postvesting restriction period	3 years
Discount for postvesting restrictions	12.50%
Restricted shares vested (in shares)										2,171,163
Restricted shares forfeited (in shares)										77,710
Unrecognized compensation cost related to unvested restricted shares				$ 31						$ 31
Unvested shares period for recognition (in years)				3 years
2017 Amended and Restated Plan | Performance Shares | MSCI Index Relative Performance
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	100.00%
2017 Amended and Restated Plan | Restricted Stock, Return on Equity | Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Return on Equity | Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Return on Equity | Year Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Time-Based | Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Time-Based | Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Time-Based | Year Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%

STOCK COMPENSATION PLANS - Sche

STOCK COMPENSATION PLANS - Schedule of Activity under the New Equity Plan (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Number of Shares:
Nonvested at beginning of period (in shares)	2,252,360	3,916,948
Granted (in shares)	2,543,551	64,458
Vested (in shares)	(1,279,433)	(1,729,046)
Forfeited (in shares)	(62,710)	0
Nonvested at end of period (in shares)	3,453,768	2,252,360

EQUITY - Preferred Stock (Detai

EQUITY - Preferred Stock (Details) $ / shares in Units, $ in Millions	1 Months Ended
	Oct. 31, 2019USD ($)day$ / shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Equity [Abstract]
Preferred stock, value, issued	$ 300	$ 295.2	$ 295.2
Sale of stock, consideration received on transaction	$ 300
Preferred stock, dividend rate, percentage	5.75%
Sale of stock, price per share (in dollars per share) | $ / shares	$ 25
Sale of stock, premium percentage	15.00%
Trading days | day	20

EQUITY - Common Stock Repurchas

EQUITY - Common Stock Repurchase Program (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Nov. 03, 2020	Mar. 20, 2018
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 500,000,000	$ 250,000,000
Shares retired due to common stock repurchase program	$ 45,800,000		$ 169,100,000
Common Stock
Class of Stock [Line Items]
Shares retired due to common stock repurchase program (in shares)	2,826,644	221,834	9,364,141
Shares retired due to common stock repurchase program		$ 4,300,000

EQUITY - Dividend Distributions

EQUITY - Dividend Distributions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Declared
Preferred Stock	$ 17.2	$ 2.6
Common Stock	125.6	121.1	$ 113.7
Paid
Preferred Stock	13.6	2.6	0
Common Stock	$ 126.1	$ 114.9	$ 111.2

EQUITY - Taxability of Dividend

EQUITY - Taxability of Dividends (Details) - $ / shares	Oct. 08, 2020	Jul. 09, 2020	Apr. 07, 2020	Jan. 02, 2020	Dec. 31, 2020
Equity [Abstract]
Distributions Per Share (in dollars per share)	$ 0.2200	$ 0.2200	$ 0.2200	$ 0.2200	$ 0.8800
Ordinary Dividends (in dollars per share)	0.0597	0.0597	0.0597	0.0597	0.2388
Return of Capital (in dollars per share)	$ 0.1603	$ 0.1603	$ 0.1603	$ 0.1603	$ 0.6412

EQUITY - Accumulated Other Comp

EQUITY - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ 1,719.2
Unrealized (losses) gains, arising during the period	22.7
Taxes on unrealized (losses) gains, arising during the period	0.7
Amounts reclassified out of AOCI during the period, gross	1
Amounts reclassified out of AOCI during the period, taxes	(0.2)
Noncontrolling interest	(0.6)
Balance at end of period	1,672.7
Accumulated other comprehensive loss	(393.6)	$ (417.2)
Total Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(58.6)
Balance at end of period	(35)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(98.3)
Unrealized (losses) gains, arising during the period	67.6
Taxes on unrealized (losses) gains, arising during the period	(1.2)
Amounts reclassified out of AOCI during the period, gross	0.3
Amounts reclassified out of AOCI during the period, taxes	0
Noncontrolling interest	(0.6)
Balance at end of period	(32.2)
Foreign Currency Derivative Contracts | Foreign Exchange Contract
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	40.4
Unrealized (losses) gains, arising during the period	(38)
Amounts reclassified out of AOCI during the period, gross	0
Amounts reclassified out of AOCI during the period, taxes	0
Noncontrolling interest	0
Balance at end of period	2.6
Foreign Currency Derivative Contracts | Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(0.7)
Unrealized (losses) gains, arising during the period	(6.9)
Taxes on unrealized (losses) gains, arising during the period	1.7
Amounts reclassified out of AOCI during the period, gross	0.7
Amounts reclassified out of AOCI during the period, taxes	(0.2)
Noncontrolling interest	0
Balance at end of period	(5.4)
Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss	$ 358.4

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 170	$ (25.1)	$ (42.1)	$ (9.9)	$ 157.9	$ 20.7	$ 50.8	$ (5.3)	$ 92.9	$ 224.1	$ 150
Net income and dividends allocated to participating securities									0	(0.3)	(0.9)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities									92.9	223.8	149.1
Dividends declared on common shares									(125.6)	(121.1)	(113)
Undistributed earnings attributable to Kennedy-Wilson Holdings, Inc. common shareholders									$ (32.7)	$ 102.7	$ 36.1
Distributed earnings per share (in dollars per share)									$ 0.88	$ 0.85	$ 0.78
Undistributed earnings per share (in dollars per share)									(0.22)	0.75	0.26
Income per basic (in dollars per share)	$ 1.23	$ (0.18)	$ (0.30)	$ (0.07)	$ 1.13	$ 0.15	$ 0.36	$ (0.04)	0.66	1.60	1.04
Income per diluted (in dollars per share)	$ 1.21	$ (0.18)	$ (0.30)	$ (0.07)	$ 1.12	$ 0.15	$ 0.36	$ (0.04)	$ 0.66	$ 1.58	$ 1.04
Weighted average shares outstanding for basic (in shares)									139,741,411	139,729,573	142,895,472
Weighted average shares outstanding for diluted (in shares)									140,347,365	141,501,323	144,753,421
Dividends declared per common share (in dollars per share)									$ 0.88	$ 0.85	$ 0.78
Potentially dilutive securities (in shares)									13,236,896	13,133,785	0

SEGMENT INFORMATION - Segment I

SEGMENT INFORMATION - Segment Information, by Segment (Details) $ in Millions		3 Months Ended								12 Months Ended
		Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment										2
Revenue
Total revenue		$ 106.5	$ 114.2	$ 106.9	$ 123.3	$ 142.3	$ 143	$ 143.7	$ 140.7	$ 450.9	$ 569.7	$ 772.4
Expenses
General and administrative										34.6	42.4	50.8
Depreciation and amortization										179.6	187.6	206.1
Total expenses		149	116.3	115.8	129.8	155	147.9	143.8	153.1	510.9	599.8	766.4
Non-operating income (expense)
Income from unconsolidated investments, net of depreciation and amortization										81	179.7	78.7
Gain on sale of real estate, net										338	434.4	371.8
Gain on sale of business										0	0	40.4
Transaction-related expenses										(0.9)	(6.8)	(1.7)
Interest expense										(211.2)	(215.1)	(238.2)
Other income										4.5	0.4	13.1
(Provision for) benefit from income taxes		(53.9)	12.8	3.2	(5.7)	(6.3)	(10.2)	(20.9)	(4)	(43.6)	(41.4)	(58)
Net income		172.5	(19.7)	(39.1)	(5.9)	158.9	19.4	141.2	1.6	107.8	321.1	212.1
Net loss (income) attributable to the noncontrolling interests		1.8	(1.1)	1.3	0.3	1.6	1.3	(90.4)	(6.9)	2.3	(94.4)	(62.1)
Preferred dividends and accretion of preferred stock issuance costs		(4.3)	(4.3)	(4.3)	(4.3)	(2.6)	0	0	0	(17.2)	(2.6)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders		170	$ (25.1)	$ (42.1)	$ (9.9)	157.9	$ 20.7	$ 50.8	$ (5.3)	92.9	224.1	150
Assets
Total assets	[1]	7,329				7,304.5				7,329	7,304.5
Expenditures for long lived assets
Investments										(264.2)	(402)	(571.8)
Corporate
Revenue
Total revenue										10.6	15.8	29.9
Expenses
General and administrative										8.1	10.5	15.2
Depreciation and amortization										0	0	0
Total expenses										74.6	80	104.7
Non-operating income (expense)
Income from unconsolidated investments, net of depreciation and amortization										0	0	0
Gain on sale of real estate, net										0	0	0
Gain on sale of business												40.4
Transaction-related expenses										0	0	0
Interest expense											(69.5)	(77.2)
Other income										5.1	(2.4)	12.4
(Provision for) benefit from income taxes										(25.2)	(26.9)	(44)
Net income										(153.6)	(163)	(143.2)
Net loss (income) attributable to the noncontrolling interests										0	0	0
Preferred dividends and accretion of preferred stock issuance costs										(17.2)	(2.6)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders										(170.8)	(165.6)	(143.2)
Assets
Total assets		370.2				298.3				370.2	298.3
Rental
Revenue
Total revenue										403.9	447.4	514.6
Expenses
Cost of goods sold										135.7	152.9	160.8
Rental | Corporate
Revenue
Total revenue										0	0	0
Expenses
Cost of goods sold										0	0	0
Hotel
Revenue
Total revenue										13.9	80.5	155.7
Expenses
Cost of goods sold										13.8	60.1	121.5
Hotel | Corporate
Revenue
Total revenue										0	0	0
Expenses
Cost of goods sold										0	0	0
Sale of real estate
Revenue
Total revenue										0	1.1	56.8
Expenses
Cost of goods sold										0	1.2	52.5
Sale of real estate | Corporate
Revenue
Total revenue											0	0
Expenses
Cost of goods sold											0	0
Investment management, property services and research fees
Revenue
Total revenue										33.1	40.7	45.3
Investment management, property services and research fees | Corporate
Revenue
Total revenue										10.6	15.8	29.9
Commission and marketing
Expenses
Cost of goods sold										2.8	3.8	5.9
Commission and marketing | Corporate
Expenses
Cost of goods sold										2.8	3.8	5.9
Compensation and related
Expenses
Cost of goods sold										144.4	151.8	168.8
Compensation and related | Corporate
Expenses
Cost of goods sold										63.7	65.7	83.6
Consolidated | Operating Segments
Revenue
Total revenue										417.8	529	727.1
Expenses
General and administrative										20.6	26.3	28.1
Depreciation and amortization										179.6	187.6	206.1
Total expenses										409.4	499.1	633.7
Non-operating income (expense)
Income from unconsolidated investments, net of depreciation and amortization										0	0	0
Gain on sale of real estate, net										338	434.4	371.8
Gain on sale of business												0
Transaction-related expenses										(0.9)	(6.8)	(1.7)
Interest expense										(141.7)	(145.6)	(161)
Other income										(0.6)	2.8	0.7
(Provision for) benefit from income taxes										(18.4)	(14.5)	(14)
Net income										184.8	300.2	289.2
Net loss (income) attributable to the noncontrolling interests										2.3	(94.4)	(62.1)
Preferred dividends and accretion of preferred stock issuance costs										0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders										187.1	205.8	227.1
Assets
Total assets		5,562.4				5,679.7				5,562.4	5,679.7
Consolidated | Rental | Operating Segments
Revenue
Total revenue										403.9	447.4	514.6
Expenses
Cost of goods sold										135.7	152.9	160.8
Consolidated | Hotel | Operating Segments
Revenue
Total revenue										13.9	80.5	155.7
Expenses
Cost of goods sold										13.8	60.1	121.5
Consolidated | Sale of real estate | Operating Segments
Revenue
Total revenue											1.1	56.8
Expenses
Cost of goods sold											1.2	52.5
Consolidated | Investment management, property services and research fees | Operating Segments
Revenue
Total revenue										0	0	0
Consolidated | Commission and marketing | Operating Segments
Expenses
Cost of goods sold										0	0	0
Consolidated | Compensation and related | Operating Segments
Expenses
Cost of goods sold										59.7	71	64.7
Co-Investments | Operating Segments
Revenue
Total revenue										22.5	24.9	15.4
Expenses
General and administrative										5.9	5.6	7.5
Depreciation and amortization										0	0	0
Total expenses										26.9	20.7	28
Non-operating income (expense)
Income from unconsolidated investments, net of depreciation and amortization										81	179.7	78.7
Gain on sale of real estate, net										0	0	0
Gain on sale of business												0
Transaction-related expenses										0	0	0
Interest expense										0	0	0
Other income										0	0	0
(Provision for) benefit from income taxes										0	0	0
Net income										76.6	183.9	66.1
Net loss (income) attributable to the noncontrolling interests										0	0	0
Preferred dividends and accretion of preferred stock issuance costs										0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders										76.6	183.9	66.1
Assets
Total assets		$ 1,396.4				$ 1,326.5				1,396.4	1,326.5
Co-Investments | Corporate
Non-operating income (expense)
Interest expense										(69.5)
Co-Investments | Rental | Operating Segments
Revenue
Total revenue										0	0	0
Expenses
Cost of goods sold										0	0	0
Co-Investments | Hotel | Operating Segments
Revenue
Total revenue										0	0	0
Expenses
Cost of goods sold										0	0	0
Co-Investments | Sale of real estate | Operating Segments
Revenue
Total revenue											0	0
Expenses
Cost of goods sold											0	0
Co-Investments | Investment management, property services and research fees | Operating Segments
Revenue
Total revenue										22.5	24.9	15.4
Co-Investments | Commission and marketing | Operating Segments
Expenses
Cost of goods sold										0	0	0
Co-Investments | Compensation and related | Operating Segments
Expenses
Cost of goods sold										$ 21	$ 15.1	$ 20.5
Minimum
Segment Reporting Information [Line Items]
Average ownership interest in investments		5.00%								5.00%
Maximum
Segment Reporting Information [Line Items]
Average ownership interest in investments		50.00%								50.00%
[1]	The assets and liabilities as of December 31, 2020 include $166.0 million (including cash held by consolidated investments of $9.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $150.0 million) and $107.7 million (including investment debt of $97.5 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2019 include $267.5 million (including cash held by consolidated investments of $10.3 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $243.5 million) and $219.7 million (including investment debt of $206.0 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

SEGMENT INFORMATION - Revenue b

SEGMENT INFORMATION - Revenue by Geographical Region (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 106.5	$ 114.2	$ 106.9	$ 123.3	$ 142.3	$ 143	$ 143.7	$ 140.7	$ 450.9	$ 569.7	$ 772.4
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									274.2	275.7	327.7
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									$ 176.7	$ 294	$ 444.7

GUARANTOR AND NON-GUARANTOR F_3

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents		$ 965.1	$ 573.9	$ 488	$ 351.3
Accounts receivable		47.9	52.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		4,720.5	5,080.2
Unconsolidated investments		1,289.3	1,326.5
Investments in and advances to consolidated subsidiaries		0	0
Other assets		306.2	271.8
Total assets	[1]	7,329	7,304.5
Liabilities
Accounts payable		30.1	20.4
Accrued expenses and other liabilities		531.7	518
Total liabilities	[1]	5,656.3	5,585.3
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,644.5	1,678.7
Noncontrolling interests		28.2	40.5
Total equity		1,672.7	1,719.2	1,431.2	1,577.5
Total liabilities and equity		7,329	7,304.5
Mortgage debt
Liabilities
Debt		2,589.8	2,641
KW unsecured debt
Liabilities
Debt		1,332.2	1,131.7
KWE unsecured bonds
Liabilities
Debt		1,172.5	1,274.2
Parent
Assets
Cash and cash equivalents		0	30.8	0	0
Kennedy-Wilson, Inc.
Assets
Cash and cash equivalents		105.5	6.4	1.9	33.4
Guarantor Subsidiaries
Assets
Cash and cash equivalents		174.5	102.7	101.9	54.9
Non-guarantor Subsidiaries
Assets
Cash and cash equivalents		685.1	434	$ 384.2	$ 263
Reportable Legal Entities | Parent
Assets
Cash and cash equivalents		0	30.8
Accounts receivable		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		1,686.5	1,682.3
Other assets		0	0
Total assets		1,686.5	1,713.1
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		42	34.4
Total liabilities		42	34.4
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,644.5	1,678.7
Noncontrolling interests		0	0
Total equity		1,644.5	1,678.7
Total liabilities and equity		1,686.5	1,713.1
Reportable Legal Entities | Parent | Mortgage debt
Liabilities
Debt		0	0
Reportable Legal Entities | Parent | KW unsecured debt
Liabilities
Debt		0	0
Reportable Legal Entities | Parent | KWE unsecured bonds
Liabilities
Debt		0	0
Reportable Legal Entities | Kennedy-Wilson, Inc.
Assets
Cash and cash equivalents		105.5	6.4
Accounts receivable		0.2	0
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		0	0
Unconsolidated investments		15.1	18.2
Investments in and advances to consolidated subsidiaries		3,173.4	3,037.5
Other assets		10.3	0
Total assets		3,304.5	3,062.1
Liabilities
Accounts payable		0.2	0.9
Accrued expenses and other liabilities		285.6	247.2
Total liabilities		1,618	1,379.8
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,686.5	1,682.3
Noncontrolling interests		0	0
Total equity		1,686.5	1,682.3
Total liabilities and equity		3,304.5	3,062.1
Reportable Legal Entities | Kennedy-Wilson, Inc. | Mortgage debt
Liabilities
Debt		0	0
Reportable Legal Entities | Kennedy-Wilson, Inc. | KW unsecured debt
Liabilities
Debt		1,332.2	1,131.7
Reportable Legal Entities | Kennedy-Wilson, Inc. | KWE unsecured bonds
Liabilities
Debt		0	0
Reportable Legal Entities | Guarantor Subsidiaries
Assets
Cash and cash equivalents		174.5	102.7
Accounts receivable		15.5	13.9
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		2,009.7	2,052.3
Unconsolidated investments		459.4	526
Investments in and advances to consolidated subsidiaries		1,768.4	1,660.5
Other assets		69.3	61.1
Total assets		4,496.8	4,416.5
Liabilities
Accounts payable		1.9	3.4
Accrued expenses and other liabilities		49.6	59.7
Total liabilities		1,323.4	1,379
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		3,173.4	3,037.5
Noncontrolling interests		0	0
Total equity		3,173.4	3,037.5
Total liabilities and equity		4,496.8	4,416.5
Reportable Legal Entities | Guarantor Subsidiaries | Mortgage debt
Liabilities
Debt		1,271.9	1,315.9
Reportable Legal Entities | Guarantor Subsidiaries | KW unsecured debt
Liabilities
Debt		0	0
Reportable Legal Entities | Guarantor Subsidiaries | KWE unsecured bonds
Liabilities
Debt		0	0
Reportable Legal Entities | Non-guarantor Subsidiaries
Assets
Cash and cash equivalents		685.1	434
Accounts receivable		32.2	38.2
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		2,710.8	3,027.9
Unconsolidated investments		814.8	782.3
Investments in and advances to consolidated subsidiaries		0	0
Other assets		226.6	210.7
Total assets		4,469.5	4,493.1
Liabilities
Accounts payable		28	16.1
Accrued expenses and other liabilities		154.5	176.7
Total liabilities		2,672.9	2,792.1
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,768.4	1,660.5
Noncontrolling interests		28.2	40.5
Total equity		1,796.6	1,701
Total liabilities and equity		4,469.5	4,493.1
Reportable Legal Entities | Non-guarantor Subsidiaries | Mortgage debt
Liabilities
Debt		1,317.9	1,325.1
Reportable Legal Entities | Non-guarantor Subsidiaries | KW unsecured debt
Liabilities
Debt		0	0
Reportable Legal Entities | Non-guarantor Subsidiaries | KWE unsecured bonds
Liabilities
Debt		1,172.5	1,274.2
Elimination
Assets
Cash and cash equivalents		0	0
Accounts receivable		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		(6,628.3)	(6,380.3)
Other assets		0	0
Total assets		(6,628.3)	(6,380.3)
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		0	0
Total liabilities		0	0
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		(6,628.3)	(6,380.3)
Noncontrolling interests		0
Total equity		(6,628.3)	(6,380.3)
Total liabilities and equity		(6,628.3)	(6,380.3)
Elimination | Mortgage debt
Liabilities
Debt		0	0
Elimination | KW unsecured debt
Liabilities
Debt		0	0
Elimination | KWE unsecured bonds
Liabilities
Debt			$ 0
[1]	The assets and liabilities as of December 31, 2020 include $166.0 million (including cash held by consolidated investments of $9.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $150.0 million) and $107.7 million (including investment debt of $97.5 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2019 include $267.5 million (including cash held by consolidated investments of $10.3 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $243.5 million) and $219.7 million (including investment debt of $206.0 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

GUARANTOR AND NON-GUARANTOR F_4

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS - Consolidating Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue
Total revenue	$ 106.5	$ 114.2	$ 106.9	$ 123.3	$ 142.3	$ 143	$ 143.7	$ 140.7	$ 450.9	$ 569.7	$ 772.4
Expenses
General and administrative									34.6	42.4	50.8
Depreciation and amortization									179.6	187.6	206.1
Total expenses	149	116.3	115.8	129.8	155	147.9	143.8	153.1	510.9	599.8	766.4
Income from unconsolidated investments, net of depreciation and amortization									81	179.7	78.7
Income from consolidated subsidiaries									0	0	0
Non-operating income (expense)
Gain on sale of real estate, net									338	434.4	371.8
Gain on sale of business									0	0	40.4
Transaction-related expenses									(0.9)	(6.8)	(1.7)
Interest expense									(211.2)	(215.1)	(238.2)
Other income (loss)									4.5	0.4	13.1
Income before provision for income taxes	226.4	(32.5)	(42.3)	(0.2)	165.2	29.6	162.1	5.6	151.4	362.5	270.1
Provision for income taxes	(53.9)	12.8	3.2	(5.7)	(6.3)	(10.2)	(20.9)	(4)	(43.6)	(41.4)	(58)
Net income	172.5	(19.7)	(39.1)	(5.9)	158.9	19.4	141.2	1.6	107.8	321.1	212.1
Net loss attributable to the noncontrolling interests	1.8	(1.1)	1.3	0.3	1.6	1.3	(90.4)	(6.9)	2.3	(94.4)	(62.1)
Preferred dividends and accretion of preferred stock issuance costs	(4.3)	(4.3)	(4.3)	(4.3)	(2.6)	0	0	0	(17.2)	(2.6)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 170	$ (25.1)	$ (42.1)	$ (9.9)	$ 157.9	$ 20.7	$ 50.8	$ (5.3)	92.9	224.1	150
Rental
Revenue
Total revenue									403.9	447.4	514.6
Expenses
Cost of goods sold									135.7	152.9	160.8
Hotel
Revenue
Total revenue									13.9	80.5	155.7
Expenses
Cost of goods sold									13.8	60.1	121.5
Sale of real estate
Revenue
Total revenue									0	1.1	56.8
Expenses
Cost of goods sold									0	1.2	52.5
Investment management, property services and research fees
Revenue
Total revenue									33.1	40.7	45.3
Commission and marketing
Expenses
Cost of goods sold									2.8	3.8	5.9
Compensation and related
Expenses
Cost of goods sold									144.4	151.8	168.8
Reportable Legal Entities | Parent
Revenue
Total revenue									0	0	0
Expenses
General and administrative									0	0	0
Depreciation and amortization									0	0	0
Total expenses									33.5	31.8	37.1
Income from unconsolidated investments, net of depreciation and amortization									0	0	0
Income from consolidated subsidiaries									141.3	352.8	249.2
Non-operating income (expense)
Gain on sale of real estate, net									0	0	0
Gain on sale of business											0
Transaction-related expenses									0	0	0
Interest expense									0	0	0
Other income (loss)									0	0.1	0
Income before provision for income taxes									107.8	321.1	212.1
Provision for income taxes									0	0	0
Net income									107.8	321.1	212.1
Net loss attributable to the noncontrolling interests									0	0	0
Preferred dividends and accretion of preferred stock issuance costs									(17.2)	(2.6)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders									90.6	318.5	212.1
Reportable Legal Entities | Parent | Rental
Revenue
Total revenue									0	0	0
Expenses
Cost of goods sold									0	0	0
Reportable Legal Entities | Parent | Hotel
Revenue
Total revenue									0	0	0
Expenses
Cost of goods sold									0	0	0
Reportable Legal Entities | Parent | Sale of real estate
Revenue
Total revenue										0	0
Expenses
Cost of goods sold										0	0
Reportable Legal Entities | Parent | Investment management, property services and research fees
Revenue
Total revenue									0	0	0
Reportable Legal Entities | Parent | Commission and marketing
Expenses
Cost of goods sold									0	0	0
Reportable Legal Entities | Parent | Compensation and related
Expenses
Cost of goods sold									33.5	31.8	37.1
Reportable Legal Entities | Kennedy-Wilson, Inc.
Revenue
Total revenue									0	0.8	0
Expenses
General and administrative									17.2	19.8	20.3
Depreciation and amortization									1.5	1.1	1.3
Total expenses									86.7	95.9	92.9
Income from unconsolidated investments, net of depreciation and amortization									0.6	0.1	(1.3)
Income from consolidated subsidiaries									320.1	547.7	451.3
Non-operating income (expense)
Gain on sale of real estate, net									0	0	0
Gain on sale of business											0
Transaction-related expenses									(0.2)	(3.1)	(0.1)
Interest expense									(69.5)	(69.5)	(77.1)
Other income (loss)									2.2	(0.3)	13.3
Income before provision for income taxes									166.5	379.8	293.2
Provision for income taxes									(25.2)	(26.9)	(44)
Net income									141.3	352.9	249.2
Net loss attributable to the noncontrolling interests									0	0	0
Preferred dividends and accretion of preferred stock issuance costs									0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders									141.3	352.9	249.2
Reportable Legal Entities | Kennedy-Wilson, Inc. | Rental
Revenue
Total revenue									0	0	0
Expenses
Cost of goods sold									0	0	0
Reportable Legal Entities | Kennedy-Wilson, Inc. | Hotel
Revenue
Total revenue									0	0	0
Expenses
Cost of goods sold									0	0	0
Reportable Legal Entities | Kennedy-Wilson, Inc. | Sale of real estate
Revenue
Total revenue										0	0
Expenses
Cost of goods sold										0	0
Reportable Legal Entities | Kennedy-Wilson, Inc. | Investment management, property services and research fees
Revenue
Total revenue									0	0.8	0
Reportable Legal Entities | Kennedy-Wilson, Inc. | Commission and marketing
Expenses
Cost of goods sold									0	0	0
Reportable Legal Entities | Kennedy-Wilson, Inc. | Compensation and related
Expenses
Cost of goods sold									68	75	71.3
Reportable Legal Entities | Guarantor Subsidiaries
Revenue
Total revenue									218.6	210.2	210.3
Expenses
General and administrative									11.2	15.9	21.2
Depreciation and amortization									79.9	62.5	56.9
Total expenses									203.8	185.7	201.4
Income from unconsolidated investments, net of depreciation and amortization									(0.6)	83.3	60.3
Income from consolidated subsidiaries									294	479.8	332.7
Non-operating income (expense)
Gain on sale of real estate, net									65.9	8.2	61.4
Gain on sale of business											40.4
Transaction-related expenses									(0.3)	(0.2)	(1.1)
Interest expense									(52.3)	(49.2)	(52.8)
Other income (loss)									(0.7)	0.2	0.1
Income before provision for income taxes									320.8	546.6	449.9
Provision for income taxes									(0.7)	1.1	1.4
Net income									320.1	547.7	451.3
Net loss attributable to the noncontrolling interests									0	0	0
Preferred dividends and accretion of preferred stock issuance costs									0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders									320.1	547.7	451.3
Reportable Legal Entities | Guarantor Subsidiaries | Rental
Revenue
Total revenue									190.1	173.6	168.4
Expenses
Cost of goods sold									72.5	64.3	62.3
Reportable Legal Entities | Guarantor Subsidiaries | Hotel
Revenue
Total revenue									0	0	0
Expenses
Cost of goods sold									0	0	0
Reportable Legal Entities | Guarantor Subsidiaries | Sale of real estate
Revenue
Total revenue										0	0
Expenses
Cost of goods sold										0
Reportable Legal Entities | Guarantor Subsidiaries | Investment management, property services and research fees
Revenue
Total revenue									28.5	36.6	41.9
Reportable Legal Entities | Guarantor Subsidiaries | Commission and marketing
Expenses
Cost of goods sold									2.8	3.8	5.9
Reportable Legal Entities | Guarantor Subsidiaries | Compensation and related
Expenses
Cost of goods sold									37.4	39.2	55.1
Reportable Legal Entities | Non-guarantor Subsidiaries
Revenue
Total revenue									232.3	358.7	562.1
Expenses
General and administrative									6.2	6.7	9.3
Depreciation and amortization									98.2	124	147.9
Total expenses									186.9	286.4	435
Income from unconsolidated investments, net of depreciation and amortization									81	96.3	19.7
Income from consolidated subsidiaries									0	0	0
Non-operating income (expense)
Gain on sale of real estate, net									272.1	426.2	310.4
Gain on sale of business											0
Transaction-related expenses									(0.4)	(3.5)	(0.5)
Interest expense									(89.4)	(96.4)	(108.3)
Other income (loss)									3	0.4	(0.3)
Income before provision for income taxes									311.7	495.3	348.1
Provision for income taxes									(17.7)	(15.6)	(15.4)
Net income									294	479.7	332.7
Net loss attributable to the noncontrolling interests									2.3	(94.4)	(62.1)
Preferred dividends and accretion of preferred stock issuance costs									0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders									296.3	385.3	270.6
Reportable Legal Entities | Non-guarantor Subsidiaries | Rental
Revenue
Total revenue									213.8	273.8	346.2
Expenses
Cost of goods sold									63.2	88.6	98.5
Reportable Legal Entities | Non-guarantor Subsidiaries | Hotel
Revenue
Total revenue									13.9	80.5	155.7
Expenses
Cost of goods sold									13.8	60.1	121.5
Reportable Legal Entities | Non-guarantor Subsidiaries | Sale of real estate
Revenue
Total revenue										1.1	56.8
Expenses
Cost of goods sold										1.2	52.5
Reportable Legal Entities | Non-guarantor Subsidiaries | Investment management, property services and research fees
Revenue
Total revenue									4.6	3.3	3.4
Reportable Legal Entities | Non-guarantor Subsidiaries | Commission and marketing
Expenses
Cost of goods sold									0	0
Reportable Legal Entities | Non-guarantor Subsidiaries | Compensation and related
Expenses
Cost of goods sold									5.5	5.8	5.3
Elimination
Revenue
Total revenue									0	0	0
Expenses
General and administrative									0	0	0
Depreciation and amortization									0	0	0
Total expenses									0	0	0
Income from unconsolidated investments, net of depreciation and amortization									0	0	0
Income from consolidated subsidiaries									(755.4)	(1,380.3)	(1,033.2)
Non-operating income (expense)
Gain on sale of real estate, net									0	0	0
Gain on sale of business											0
Transaction-related expenses									0	0	0
Interest expense									0	0	0
Other income (loss)									0	0	0
Income before provision for income taxes									(755.4)	(1,380.3)	(1,033.2)
Provision for income taxes									0	0	0
Net income									(755.4)	(1,380.3)	(1,033.2)
Net loss attributable to the noncontrolling interests									0	0	0
Preferred dividends and accretion of preferred stock issuance costs									0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders									(755.4)	(1,380.3)	(1,033.2)
Elimination | Rental
Revenue
Total revenue									0	0	0
Expenses
Cost of goods sold									0	0	0
Elimination | Hotel
Revenue
Total revenue									0	0	0
Expenses
Cost of goods sold									0	0	0
Elimination | Sale of real estate
Revenue
Total revenue										0	0
Expenses
Cost of goods sold										0	0
Elimination | Investment management, property services and research fees
Revenue
Total revenue									0	0	0
Elimination | Commission and marketing
Expenses
Cost of goods sold									0	0	0
Elimination | Compensation and related
Expenses
Cost of goods sold									$ 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								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net income	$ 172.5	$ (19.7)	$ (39.1)	$ (5.9)	$ 158.9	$ 19.4	$ 141.2	$ 1.6	$ 107.8	$ 321.1	$ 212.1
Other comprehensive income, net of tax:
Unrealized foreign currency translation gain (loss)									66.5	(13.3)	(62.6)
Amounts reclassified from accumulated other comprehensive income									0.8	10.4	13.2
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps											38.3
Total other comprehensive income (loss) for the year									24.2	35.1	(11.1)
Comprehensive income									132	356.2	201
Comprehensive income (loss) attributable to noncontrolling interests									1.7	(105)	(65.4)
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.									133.7	251.2	135.6
Foreign Exchange Contract
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									(37.8)	38.7	38.3
Interest Rate Swap
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									(5.3)	(0.7)	0
Reportable Legal Entities | Parent
Condensed Financial Statements, Captions [Line Items]
Net income									107.8	321.1	212.1
Other comprehensive income, net of tax:
Unrealized foreign currency translation gain (loss)									66.5	(13.3)	(62.6)
Amounts reclassified from accumulated other comprehensive income									0.8	10.4	13.2
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps											38.3
Total other comprehensive income (loss) for the year									24.2	35.1	(11.1)
Comprehensive income									132	356.2	201
Comprehensive income (loss) attributable to noncontrolling interests									0	0	0
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.									132	356.2	201
Reportable Legal Entities | Parent | Foreign Exchange Contract
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									(37.8)	38.7
Reportable Legal Entities | Parent | Interest Rate Swap
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									(5.3)	(0.7)
Reportable Legal Entities | Kennedy-Wilson, Inc.
Condensed Financial Statements, Captions [Line Items]
Net income									141.3	352.9	249.2
Other comprehensive income, net of tax:
Unrealized foreign currency translation gain (loss)									66.5	(13.3)	(62.6)
Amounts reclassified from accumulated other comprehensive income									0.8	10.4	13.2
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps											38.3
Total other comprehensive income (loss) for the year									24.2	35.1	(11.1)
Comprehensive income									165.5	388	238.1
Comprehensive income (loss) attributable to noncontrolling interests									0	0	0
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.									165.5	388	238.1
Reportable Legal Entities | Kennedy-Wilson, Inc. | Foreign Exchange Contract
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									(37.8)	38.7
Reportable Legal Entities | Kennedy-Wilson, Inc. | Interest Rate Swap
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									(5.3)	(0.7)
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income									320.1	547.7	451.3
Other comprehensive income, net of tax:
Unrealized foreign currency translation gain (loss)									(3.5)	16.1	(45.7)
Amounts reclassified from accumulated other comprehensive income									0	0	0
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps											46.1
Total other comprehensive income (loss) for the year									1.5	0.7	0.4
Comprehensive income									321.6	548.4	451.7
Comprehensive income (loss) attributable to noncontrolling interests									0	0	0
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.									321.6	548.4	451.7
Reportable Legal Entities | Guarantor Subsidiaries | Foreign Exchange Contract
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									5	(15.4)
Reportable Legal Entities | Guarantor Subsidiaries | Interest Rate Swap
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									0	0
Reportable Legal Entities | Non-guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income									294	479.7	332.7
Other comprehensive income, net of tax:
Unrealized foreign currency translation gain (loss)									65	(4.7)	(61.6)
Amounts reclassified from accumulated other comprehensive income									0.2	10.4	18.3
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps											(7.8)
Total other comprehensive income (loss) for the year									22.4	59.8	(51.1)
Comprehensive income									316.4	539.5	281.6
Comprehensive income (loss) attributable to noncontrolling interests									1.7	(105)	(65.4)
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.									318.1	434.5	216.2
Reportable Legal Entities | Non-guarantor Subsidiaries | Foreign Exchange Contract
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									(42.8)	54.1
Reportable Legal Entities | Non-guarantor Subsidiaries | Interest Rate Swap
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									0	0
Elimination
Condensed Financial Statements, Captions [Line Items]
Net income									(755.4)	(1,380.3)	(1,033.2)
Other comprehensive income, net of tax:
Unrealized foreign currency translation gain (loss)									(128)	1.9	169.9
Amounts reclassified from accumulated other comprehensive income									(1)	(20.8)	(31.5)
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps											(76.6)
Total other comprehensive income (loss) for the year									(48.1)	(95.6)	61.8
Comprehensive income									(803.5)	(1,475.9)	(971.4)
Comprehensive income (loss) attributable to noncontrolling interests									0	0	0
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.									(803.5)	(1,475.9)	$ (971.4)
Elimination | Foreign Exchange Contract
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									75.6	(77.4)
Elimination | Interest Rate Swap
Other comprehensive income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps									$ 5.3	$ 0.7

GUARANTOR AND NON-GUARANTOR F_6

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	$ (12.6)	$ (19.5)	$ 93.1
Cash flows from investing activities:
Additions to loans	(88.6)	(2.7)	(2.2)
Proceeds from collection of loans	34.1	0.6	5.8
Nonrefundable escrow deposits	0	0	(5)
Net proceeds from sale of consolidated real estate	827.8	701	1,386.1
Net proceeds from sale of a business		0	43.4
Purchases of consolidated real estate	(70.1)	(210.9)	(355.8)
Capital expenditures to real estate	(194.1)	(191.1)	(216)
Investment in marketable securities	(12.1)	0	(0.2)
Proceeds from sale of marketable securities	10.2	0	7.4
Investing distributions from unconsolidated investments	177.5	115	63.7
Contributions to unconsolidated investments	(111.6)	(266)	(396.1)
Proceeds from settlement of foreign currency derivative contracts	15.5	33.4	10.7
Purchases of foreign currency derivative contracts	0	0	(0.6)
Additions to development project asset	0	(1.2)	(29.1)
Proceeds from sale of development project asset	2.2	4.2	81
(Investments in) distributions from consolidated subsidiaries, net	0	0	0
Net cash provided by investing activities	590.8	182.3	593.1
Cash flow from financing activities:
Borrowings under senior notes payable	0	0	246.6
Borrowings under line of credit/term loan	200	125	225
Repayment of line of credit/term loan	0	(200)	(450)
Borrowings under mortgage debt	296.4	488.6	725
Repayment of mortgage debt	(487.1)	(391.4)	(866.8)
Payment of loan fees	(5.6)	(4.8)	(9.5)
Borrowings (repayment) of shareholder loans to noncontrolling interests	1.2	(11.2)	0
Repurchase of common stock	(57.4)	(20.7)	(177.9)
Issuance of preferred stock	0	295.2	0
Common stock dividends paid	(126.1)	(114.9)	(111.2)
Dividends paid			(111.2)
Preferred stock dividends paid	(13.6)	(2.6)	0
KWE closing dividend			(17.2)
Contributions from noncontrolling interests	4.5	15	23.2
Distributions to noncontrolling interests	(18.9)	(264)	(116)
Net cash used in financing activities	(206.6)	(85.8)	(528.8)
Effect of currency exchange rate changes on cash and cash equivalents	19.6	8.9	(20.7)
Net change in cash and cash equivalents	391.2	85.9	136.7
Cash and cash equivalents, beginning of year	573.9	488	351.3
Cash and cash equivalents, end of year	965.1	573.9	488
Parent
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	3.4	(3.7)	(1.2)
Cash flows from investing activities:
Additions to loans	0	0	0
Proceeds from collection of loans	0	0	0
Nonrefundable escrow deposits			0
Net proceeds from sale of consolidated real estate	0	0	0
Net proceeds from sale of a business			0
Purchases of consolidated real estate	0	0	0
Capital expenditures to real estate	0	0	0
Investment in marketable securities			0
Proceeds from sale of marketable securities	0		0
Investing distributions from unconsolidated investments	0	0	0
Contributions to unconsolidated investments	0	0	0
Proceeds from settlement of foreign currency derivative contracts	0	0	0
Purchases of foreign currency derivative contracts			0
Additions to development project asset		0	0
Proceeds from sale of development project asset	0	0	0
(Investments in) distributions from consolidated subsidiaries, net	162.9	(122.5)	290.3
Net cash provided by investing activities	162.9	(122.5)	290.3
Cash flow from financing activities:
Borrowings under senior notes payable			0
Borrowings under line of credit/term loan	0	0	0
Repayment of line of credit/term loan		0	0
Borrowings under mortgage debt	0	0	0
Repayment of mortgage debt	0	0	0
Payment of loan fees	0	0	0
Borrowings (repayment) of shareholder loans to noncontrolling interests	0	0
Repurchase of common stock	(57.4)	(20.7)	(177.9)
Issuance of preferred stock		295.2
Common stock dividends paid	(126.1)	(114.9)
Dividends paid			(111.2)
Preferred stock dividends paid	(13.6)	(2.6)
KWE closing dividend			0
Contributions from noncontrolling interests	0	0	0
Distributions to noncontrolling interests	0	0	0
Net cash used in financing activities	(197.1)	157	(289.1)
Effect of currency exchange rate changes on cash and cash equivalents	0	0	0
Net change in cash and cash equivalents	(30.8)	30.8	0
Cash and cash equivalents, beginning of year	30.8	0	0
Cash and cash equivalents, end of year	0	30.8	0
Kennedy-Wilson, Inc.
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	(136.9)	(130.4)	(133.7)
Cash flows from investing activities:
Additions to loans	(7.6)	0	0
Proceeds from collection of loans	0	0	0
Nonrefundable escrow deposits			(5)
Net proceeds from sale of consolidated real estate	0	0	0
Net proceeds from sale of a business			0
Purchases of consolidated real estate	0	0	0
Capital expenditures to real estate	0	0	0
Investment in marketable securities	(12.1)		(0.2)
Proceeds from sale of marketable securities	10.2		0
Investing distributions from unconsolidated investments	4	0.8	0
Contributions to unconsolidated investments	(0.1)	(1.7)	(1.2)
Proceeds from settlement of foreign currency derivative contracts	0	0	10.7
Purchases of foreign currency derivative contracts			(0.6)
Additions to development project asset		0	0
Proceeds from sale of development project asset	0	0	0
(Investments in) distributions from consolidated subsidiaries, net	45.9	210.8	81.4
Net cash provided by investing activities	40.3	209.9	85.1
Cash flow from financing activities:
Borrowings under senior notes payable			246.6
Borrowings under line of credit/term loan	200	125	225
Repayment of line of credit/term loan		(200)	(450)
Borrowings under mortgage debt	0	0	0
Repayment of mortgage debt	0	0	0
Payment of loan fees	(4.3)	0	(4.5)
Borrowings (repayment) of shareholder loans to noncontrolling interests	0	0
Repurchase of common stock	0	0	0
Issuance of preferred stock		0
Common stock dividends paid	0	0
Dividends paid			0
Preferred stock dividends paid	0	0
KWE closing dividend			0
Contributions from noncontrolling interests	0	0	0
Distributions to noncontrolling interests	0	0	0
Net cash used in financing activities	195.7	(75)	17.1
Effect of currency exchange rate changes on cash and cash equivalents	0	0	0
Net change in cash and cash equivalents	99.1	4.5	(31.5)
Cash and cash equivalents, beginning of year	6.4	1.9	33.4
Cash and cash equivalents, end of year	105.5	6.4	1.9
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	14.4	24.1	66.3
Cash flows from investing activities:
Additions to loans	0	(2.3)	(0.9)
Proceeds from collection of loans	0	0.6	5.8
Nonrefundable escrow deposits			0
Net proceeds from sale of consolidated real estate	167.5	27.6	161.2
Net proceeds from sale of a business			43.4
Purchases of consolidated real estate	(28)	(97.5)	(242.3)
Capital expenditures to real estate	(59.1)	(59.8)	(27.9)
Investment in marketable securities	0		0
Proceeds from sale of marketable securities	0		7.4
Investing distributions from unconsolidated investments	44.1	80.6	25.9
Contributions to unconsolidated investments	(19.2)	(153.9)	(92.9)
Proceeds from settlement of foreign currency derivative contracts	15.5	33.4	0
Purchases of foreign currency derivative contracts			0
Additions to development project asset		0	0
Proceeds from sale of development project asset	0	0	0
(Investments in) distributions from consolidated subsidiaries, net	2.7	160.3	55.8
Net cash provided by investing activities	123.5	(11)	(64.5)
Cash flow from financing activities:
Borrowings under senior notes payable			0
Borrowings under line of credit/term loan	0	0	0
Repayment of line of credit/term loan		0	0
Borrowings under mortgage debt	84	3.5	325.3
Repayment of mortgage debt	(149.3)	(15)	(278.1)
Payment of loan fees	(0.8)	(0.8)	(2)
Borrowings (repayment) of shareholder loans to noncontrolling interests	0	0
Repurchase of common stock	0	0	0
Issuance of preferred stock		0
Common stock dividends paid	0	0
Dividends paid			0
Preferred stock dividends paid	0	0
KWE closing dividend			0
Contributions from noncontrolling interests	0	0	0
Distributions to noncontrolling interests	0	0	0
Net cash used in financing activities	(66.1)	(12.3)	45.2
Effect of currency exchange rate changes on cash and cash equivalents	0	0	0
Net change in cash and cash equivalents	71.8	0.8	47
Cash and cash equivalents, beginning of year	102.7	101.9	54.9
Cash and cash equivalents, end of year	174.5	102.7	101.9
Non-guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities	106.5	90.5	161.7
Cash flows from investing activities:
Additions to loans	(81)	(0.4)	(1.3)
Proceeds from collection of loans	34.1	0	0
Nonrefundable escrow deposits			0
Net proceeds from sale of consolidated real estate	660.3	673.4	1,224.9
Net proceeds from sale of a business			0
Purchases of consolidated real estate	(42.1)	(113.4)	(113.5)
Capital expenditures to real estate	(135)	(131.3)	(188.1)
Investment in marketable securities	0		0
Proceeds from sale of marketable securities	0		0
Investing distributions from unconsolidated investments	129.4	33.6	37.8
Contributions to unconsolidated investments	(92.3)	(110.4)	(302)
Proceeds from settlement of foreign currency derivative contracts	0	0	0
Purchases of foreign currency derivative contracts			0
Additions to development project asset		(1.2)	(29.1)
Proceeds from sale of development project asset	2.2	4.2	81
(Investments in) distributions from consolidated subsidiaries, net	(211.5)	(248.6)	(427.5)
Net cash provided by investing activities	264.1	105.9	282.2
Cash flow from financing activities:
Borrowings under senior notes payable			0
Borrowings under line of credit/term loan	0	0	0
Repayment of line of credit/term loan		0	0
Borrowings under mortgage debt	212.4	485.1	399.7
Repayment of mortgage debt	(337.8)	(376.4)	(588.7)
Payment of loan fees	(0.5)	(4)	(3)
Borrowings (repayment) of shareholder loans to noncontrolling interests	1.2	(11.2)
Repurchase of common stock	0	0	0
Issuance of preferred stock		0
Common stock dividends paid	0	0
Dividends paid			0
Preferred stock dividends paid	0	0
KWE closing dividend			(17.2)
Contributions from noncontrolling interests	4.5	15	23.2
Distributions to noncontrolling interests	(18.9)	(264)	(116)
Net cash used in financing activities	(139.1)	(155.5)	(302)
Effect of currency exchange rate changes on cash and cash equivalents	19.6	8.9	(20.7)
Net change in cash and cash equivalents	251.1	49.8	121.2
Cash and cash equivalents, beginning of year	434	384.2	263
Cash and cash equivalents, end of year	$ 685.1	$ 434	$ 384.2

UNAUDITED QUARTERLY INFORMATI_3

UNAUDITED QUARTERLY INFORMATION (Details) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)$ / shares	Sep. 30, 2020USD ($)$ / shares	Jun. 30, 2020USD ($)$ / shares	Mar. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)asset$ / shares	Sep. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 106,500	$ 114,200	$ 106,900	$ 123,300	$ 142,300	$ 143,000	$ 143,700	$ 140,700	$ 450,900	$ 569,700	$ 772,400
Expenses	149,000	116,300	115,800	129,800	155,000	147,900	143,800	153,100	510,900	599,800	766,400
Other income (loss)	268,900	(30,400)	(33,400)	6,300	177,900	34,500	162,200	18,000
Income (loss) before provision for income taxes	226,400	(32,500)	(42,300)	(200)	165,200	29,600	162,100	5,600	151,400	362,500	270,100
(Provision for) benefit from income taxes	(53,900)	12,800	3,200	(5,700)	(6,300)	(10,200)	(20,900)	(4,000)	(43,600)	(41,400)	(58,000)
Net income	172,500	(19,700)	(39,100)	(5,900)	158,900	19,400	141,200	1,600	107,800	321,100	212,100
Net loss (income) attributable to the noncontrolling interests	1,800	(1,100)	1,300	300	1,600	1,300	(90,400)	(6,900)	2,300	(94,400)	(62,100)
Preferred dividends and accretion of preferred stock issuance costs	(4,300)	(4,300)	(4,300)	(4,300)	(2,600)	0	0	0	(17,200)	(2,600)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 170,000	$ (25,100)	$ (42,100)	$ (9,900)	$ 157,900	$ 20,700	$ 50,800	$ (5,300)	$ 92,900	$ 224,100	$ 150,000
Basic earnings (loss) per share (in dollars per share) | $ / shares	$ 1.23	$ (0.18)	$ (0.30)	$ (0.07)	$ 1.13	$ 0.15	$ 0.36	$ (0.04)	$ 0.66	$ 1.60	$ 1.04
Diluted earnings (loss) per share (in dollars per share) | $ / shares	$ 1.21	$ (0.18)	$ (0.30)	$ (0.07)	$ 1.12	$ 0.15	$ 0.36	$ (0.04)	$ 0.66	$ 1.58	$ 1.04
Deconsolidation, gain (loss)	$ 287,000				$ 112,400
Real estate units sold, number of assets | asset					2
Ownership percentage sold of equity method investment					20.00%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Feb. 17, 2021	Feb. 11, 2021	Dec. 31, 2021	Feb. 09, 2021	Jan. 27, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 02, 2018
Forecast
Subsequent Event [Line Items]
Interest expense associated with bond refinancing transactions			$ 30,000,000
Senior Notes
Subsequent Event [Line Items]
Debt (excluding loan fees)						$ 1,146,900,000	$ 1,146,100,000
Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Debt (excluding loan fees)						200,000,000	$ 0
5.875% Senior Notes Due 2024 | Senior Notes
Subsequent Event [Line Items]
Debt face value						1,200,000,000
Interest rate (as a percent)								5.875%
5.875% Senior Notes Due 2024 | Senior Notes | Forecast
Subsequent Event [Line Items]
Repurchased face amount			$ 1,000,000,000
A&R Facility | Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Remaining borrowing capacity						$ 300,000,000
Subsequent Event | 4.75% Senior Notes Due 2029 and 5% Senior Notes Due 2031 | Senior Notes
Subsequent Event [Line Items]
Debt face value		$ 1,000,000,000
Net proceeds from the issuance and sale of notes		$ 987,500,000
Redemption percentage of principal		100.00%
Redemption percentage of debt option		40.00%
Subsequent Event | 4.75% Senior Notes Due 2029 and 5% Senior Notes Due 2031 | Senior Notes | Maximum
Subsequent Event [Line Items]
Redemption percentage of principal		101.00%
Subsequent Event | 4.75% Senior Notes Due 2029 | Senior Notes
Subsequent Event [Line Items]
Debt face value		$ 500,000,000
Interest rate (as a percent)		4.75%
Subsequent Event | 5% Senior Notes Due 2031 | Senior Notes
Subsequent Event [Line Items]
Debt face value		$ 500,000,000
Interest rate (as a percent)		5.00%
Subsequent Event | 5.875% Senior Notes Due 2024 | Senior Notes
Subsequent Event [Line Items]
Debt face value					$ 1,000,000,000
Total repurchase amount				$ 576,500,000
Repurchased face amount		$ 1,000,000,000			$ 1,000,000,000
Subsequent Event | A&R Facility | Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Repayments of debt	$ 100,000,000
Debt (excluding loan fees)	100,000,000
Remaining borrowing capacity	$ 400,000,000

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)aUnitlot	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 2,602.4
Initial Cost
Land	1,226.8
Building & Improvements	3,542.3
Costs Capitalized Subsequent to Acquisition
Improvements	546
Gross Balance at December 31, 2020
Land	1,225.1
Building & Improvements	3,982.6
Total	5,207.7	$ 5,430.5	$ 5,981.7	$ 6,578.6
Accumulated Depreciation	(551.8)	$ (466.8)	$ (406.5)	$ (344)
Aggregate tax basis of all properties	4,620.9
Southern California | Commercial | Office, Constructed 1955, 1981, 1982
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	35
Initial Cost
Land	11.2
Building & Improvements	18.5
Costs Capitalized Subsequent to Acquisition
Improvements	34.6
Gross Balance at December 31, 2020
Land	11.5
Building & Improvements	54.1
Total	65.6
Accumulated Depreciation	$ (7.5)
Depreciable Life in Years	39 years
Southern California | Commercial | Retail, Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 27
Initial Cost
Land	9.1
Building & Improvements	14
Costs Capitalized Subsequent to Acquisition
Improvements	11.9
Gross Balance at December 31, 2020
Land	9.1
Building & Improvements	25.9
Total	35
Accumulated Depreciation	$ (3.5)
Depreciable Life in Years	39 years
Southern California | Commercial | Office, Constructed 1982
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 22.5
Initial Cost
Land	37.8
Building & Improvements	60.6
Costs Capitalized Subsequent to Acquisition
Improvements	17.7
Gross Balance at December 31, 2020
Land	37.8
Building & Improvements	78.3
Total	116.1
Accumulated Depreciation	$ (12)
Depreciable Life in Years	39 years
Southern California | Commercial | Office, Constructed 1968
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 28.8
Initial Cost
Land	11.6
Building & Improvements	36.5
Costs Capitalized Subsequent to Acquisition
Improvements	4.6
Gross Balance at December 31, 2020
Land	11.6
Building & Improvements	41.1
Total	52.7
Accumulated Depreciation	$ (7.8)
Depreciable Life in Years	39 years
Southern California | Commercial | Office 2, Constructed 1982
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 35
Initial Cost
Land	20.7
Building & Improvements	47.9
Costs Capitalized Subsequent to Acquisition
Improvements	25.9
Gross Balance at December 31, 2020
Land	20.7
Building & Improvements	53.6
Total	74.3
Accumulated Depreciation	$ (8.4)
Depreciable Life in Years	39 years
Southern California | Commercial | Office Constructed 1956
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 17.8
Initial Cost
Land	27.4
Building & Improvements	6.9
Costs Capitalized Subsequent to Acquisition
Improvements	5.7
Gross Balance at December 31, 2020
Land	27.4
Building & Improvements	12.6
Total	40
Accumulated Depreciation	$ (0.3)
Depreciable Life in Years	39 years
Southern California | Multifamily | 208-Unit Multifamily Building, Constructed 2004
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 37.3
Initial Cost
Land	9.3
Building & Improvements	37.3
Costs Capitalized Subsequent to Acquisition
Improvements	5.7
Gross Balance at December 31, 2020
Land	9.3
Building & Improvements	43
Total	52.3
Accumulated Depreciation	$ (8.5)
Depreciable Life in Years	39 years
Number of units | Unit	208
Southern California | Multifamily | 460-Unit Multifamily Building, Constructed 1988
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 46.7
Initial Cost
Land	13.2
Building & Improvements	53
Costs Capitalized Subsequent to Acquisition
Improvements	5.1
Gross Balance at December 31, 2020
Land	13.2
Building & Improvements	58.1
Total	71.3
Accumulated Depreciation	$ (9.9)
Depreciable Life in Years	39 years
Number of units | Unit	460
Southern California | Multifamily | 386-Unit Multifamily Building, Constructed 2002
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 66
Initial Cost
Land	0
Building & Improvements	81.4
Costs Capitalized Subsequent to Acquisition
Improvements	8.3
Gross Balance at December 31, 2020
Land	0
Building & Improvements	89.8
Total	89.8
Accumulated Depreciation	$ (11.6)
Depreciable Life in Years	39 years
Number of units | Unit	386
Southern California | Multifamily | 157-Unit Multifamily Building, Constructed 2013
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 42.9
Initial Cost
Land	14.5
Building & Improvements	46
Costs Capitalized Subsequent to Acquisition
Improvements	1.3
Gross Balance at December 31, 2020
Land	14.5
Building & Improvements	47.3
Total	61.8
Accumulated Depreciation	$ (5.6)
Depreciable Life in Years	39 years
Number of units | Unit	157
Southern California | Multifamily | Land 1 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0.6
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	3.8
Building & Improvements	0
Total	3.8
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain States | Commercial | Retail, Constructed 1981
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 1.2
Initial Cost
Land	0.5
Building & Improvements	1.2
Costs Capitalized Subsequent to Acquisition
Improvements	0.4
Gross Balance at December 31, 2020
Land	0.5
Building & Improvements	1.6
Total	2.1
Accumulated Depreciation	$ (0.3)
Depreciable Life in Years	39 years
Mountain States | Commercial | Retail, Constructed 1958, 1974-1976, 1985, 1989, 2006
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 10
Initial Cost
Land	2.1
Building & Improvements	2.9
Costs Capitalized Subsequent to Acquisition
Improvements	1.8
Gross Balance at December 31, 2020
Land	1.8
Building & Improvements	4.7
Total	6.5
Accumulated Depreciation	$ (0.6)
Depreciable Life in Years	39 years
Mountain States | Commercial | Retail, Constructed 1980, 1983
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 4.2
Initial Cost
Land	2.6
Building & Improvements	5.6
Costs Capitalized Subsequent to Acquisition
Improvements	1.2
Gross Balance at December 31, 2020
Land	2.6
Building & Improvements	6.8
Total	9.4
Accumulated Depreciation	$ (1.1)
Depreciable Life in Years	39 years
Mountain States | Commercial | Retail, Constructed 1961
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 6.7
Initial Cost
Land	2.6
Building & Improvements	9.5
Costs Capitalized Subsequent to Acquisition
Improvements	3.9
Gross Balance at December 31, 2020
Land	2.6
Building & Improvements	13.4
Total	16
Accumulated Depreciation	$ (1.2)
Depreciable Life in Years	39 years
Mountain States | Commercial | Retail, Constructed 1984, 2008
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 27.5
Initial Cost
Land	9
Building & Improvements	29.9
Costs Capitalized Subsequent to Acquisition
Improvements	1.1
Gross Balance at December 31, 2020
Land	9
Building & Improvements	31
Total	40
Accumulated Depreciation	$ (3.4)
Depreciable Life in Years	39 years
Mountain States | Commercial | Retail, Constructed 1995, 1996
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 3.7
Initial Cost
Land	1.2
Building & Improvements	5.4
Costs Capitalized Subsequent to Acquisition
Improvements	0.5
Gross Balance at December 31, 2020
Land	1.2
Building & Improvements	5.9
Total	7.1
Accumulated Depreciation	$ (0.6)
Depreciable Life in Years	39 years
Mountain States | Commercial | Retail, Constructed 1967 and 1983
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 12
Initial Cost
Land	4.1
Building & Improvements	12.2
Costs Capitalized Subsequent to Acquisition
Improvements	0.2
Gross Balance at December 31, 2020
Land	4.1
Building & Improvements	12.9
Total	17
Accumulated Depreciation	$ (1.1)
Depreciable Life in Years	39 years
Mountain States | Multifamily | 450-unit Multifamily Building, Constructed 1974
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 44.1
Initial Cost
Land	18.4
Building & Improvements	43
Costs Capitalized Subsequent to Acquisition
Improvements	7.8
Gross Balance at December 31, 2020
Land	18.4
Building & Improvements	52.1
Total	70.5
Accumulated Depreciation	$ (13.7)
Depreciable Life in Years	39 years
Number of units | Unit	450
Mountain States | Multifamily | 366-unit Apartment building, Constructed 2000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 52.6
Initial Cost
Land	9.1
Building & Improvements	36.3
Costs Capitalized Subsequent to Acquisition
Improvements	11.3
Gross Balance at December 31, 2020
Land	9.1
Building & Improvements	47.6
Total	56.7
Accumulated Depreciation	$ (15.8)
Depreciable Life in Years	39 years
Number of units | Unit	366
Mountain States | Multifamily | 324-Unit Multifamily Building, Constructed 1996
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 24.8
Initial Cost
Land	3.2
Building & Improvements	28.6
Costs Capitalized Subsequent to Acquisition
Improvements	7.5
Gross Balance at December 31, 2020
Land	3.2
Building & Improvements	36
Total	39.2
Accumulated Depreciation	$ (8.6)
Depreciable Life in Years	39 years
Number of units | Unit	324
Mountain States | Multifamily | 204-Unit Multifamily Building, Constructed 1999
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 14.3
Initial Cost
Land	2
Building & Improvements	17.6
Costs Capitalized Subsequent to Acquisition
Improvements	3
Gross Balance at December 31, 2020
Land	2
Building & Improvements	20.6
Total	22.6
Accumulated Depreciation	$ (3.2)
Depreciable Life in Years	39 years
Number of units | Unit	204
Mountain States | Multifamily | 168-Unit Multifamily Building, Constructed 1992
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 10.9
Initial Cost
Land	1.8
Building & Improvements	13.1
Costs Capitalized Subsequent to Acquisition
Improvements	2.7
Gross Balance at December 31, 2020
Land	1.8
Building & Improvements	15.7
Total	17.5
Accumulated Depreciation	$ (2.6)
Depreciable Life in Years	39 years
Number of units | Unit	168
Mountain States | Multifamily | Land 1 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0.2
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	4.6
Building & Improvements	0
Total	4.6
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain States | Multifamily | 300-Unit Multifamily Building, Constructed 1995
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39
Initial Cost
Land	4.8
Building & Improvements	29.2
Costs Capitalized Subsequent to Acquisition
Improvements	4.8
Gross Balance at December 31, 2020
Land	4.8
Building & Improvements	34.1
Total	38.9
Accumulated Depreciation	$ (3.6)
Depreciable Life in Years	39 years
Number of units | Unit	300
Mountain States | Multifamily | 200-Unit Multifamily Building, Constructed 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 20.7
Initial Cost
Land	1.4
Building & Improvements	25.9
Costs Capitalized Subsequent to Acquisition
Improvements	0.8
Gross Balance at December 31, 2020
Land	1.4
Building & Improvements	26.7
Total	28.1
Accumulated Depreciation	$ (2.4)
Depreciable Life in Years	39 years
Number of units | Unit	200
Mountain States | Multifamily | 88-Unit Multifamily Building Constructed 1988
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 8.6
Initial Cost
Land	2.6
Building & Improvements	10.4
Costs Capitalized Subsequent to Acquisition
Improvements	1
Gross Balance at December 31, 2020
Land	2.6
Building & Improvements	11.6
Total	14.2
Accumulated Depreciation	$ (1.2)
Depreciable Life in Years	39 years
Number of units | Unit	88
Mountain States | Multifamily | 492-Unit Multifamily Building Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 59.2
Initial Cost
Land	15.8
Building & Improvements	63.2
Costs Capitalized Subsequent to Acquisition
Improvements	5.2
Gross Balance at December 31, 2020
Land	15.9
Building & Improvements	68.5
Total	84.4
Accumulated Depreciation	$ (6)
Depreciable Life in Years	39 years
Number of units | Unit	492
Mountain States | Multifamily | Land 2 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 8
Initial Cost
Land	0.8
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0.7
Building & Improvements	9.2
Total	9.9
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain States | Multifamily | Land 3 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	2.1
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	4.3
Building & Improvements	0
Total	4.3
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain States | Multifamily | 293-Unit Multifamily Building Constructed 1995
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 19.9
Initial Cost
Land	7.2
Building & Improvements	28.8
Costs Capitalized Subsequent to Acquisition
Improvements	0.7
Gross Balance at December 31, 2020
Land	7.2
Building & Improvements	29.5
Total	36.7
Accumulated Depreciation	$ (1.9)
Depreciable Life in Years	39 years
Number of units | Unit	293
Mountain States | Multifamily | 188-Unit Multifamily Building Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 13.5
Initial Cost
Land	4.9
Building & Improvements	19.7
Costs Capitalized Subsequent to Acquisition
Improvements	6
Gross Balance at December 31, 2020
Land	4.9
Building & Improvements	25.7
Total	30.6
Accumulated Depreciation	$ (2)
Depreciable Life in Years	39 years
Number of units | Unit	188
Mountain States | Multifamily | Land 4 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 20.5
Initial Cost
Land	5.7
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0.2
Gross Balance at December 31, 2020
Land	1.9
Building & Improvements	34.7
Total	36.6
Accumulated Depreciation	$ (0.2)
Depreciable Life in Years	39 years
Mountain States | Multifamily | 222-Unit Multifamily Building Constructed 1996
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 28.8
Initial Cost
Land	9.6
Building & Improvements	38.6
Costs Capitalized Subsequent to Acquisition
Improvements	1.4
Gross Balance at December 31, 2020
Land	9.6
Building & Improvements	39.9
Total	49.5
Accumulated Depreciation	$ (2.3)
Depreciable Life in Years	39 years
Number of units | Unit	222
Mountain States | Multifamily | Land 1 Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 26.9
Initial Cost
Land	4
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	50
Building & Improvements	0
Total	50
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain States | Multifamily | Land 2 Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0
Building & Improvements	2.3
Total	2.3
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain States | Multifamily | 360-Unit Multifamily Building Constructed 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 52.7
Initial Cost
Land	16.4
Building & Improvements	65.7
Costs Capitalized Subsequent to Acquisition
Improvements	0.2
Gross Balance at December 31, 2020
Land	16.4
Building & Improvements	66
Total	82.4
Accumulated Depreciation	$ (1.8)
Depreciable Life in Years	39 years
Number of units | Unit	360
Mountain States | Multifamily | 260-Unit Multifamily Building Constructed 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 40.1
Initial Cost
Land	13.4
Building & Improvements	53.6
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	13.4
Building & Improvements	53.7
Total	67.1
Accumulated Depreciation	$ (0.2)
Depreciable Life in Years	39 years
Number of units | Unit	260
United Kingdom | Commercial | Commercial Portfolio 1, Acquired 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	16.8
Building & Improvements	24.2
Costs Capitalized Subsequent to Acquisition
Improvements	13.3
Gross Balance at December 31, 2020
Land	3.1
Building & Improvements	47.8
Total	50.9
Accumulated Depreciation	$ (7.8)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Commercial Portfolio 2, Acquired 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 100.1
Initial Cost
Land	78.5
Building & Improvements	289
Costs Capitalized Subsequent to Acquisition
Improvements	33.8
Gross Balance at December 31, 2020
Land	56.7
Building & Improvements	259.7
Total	316.4
Accumulated Depreciation	$ (46.5)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office, Constructed 2003
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	85.3
Building & Improvements	232
Costs Capitalized Subsequent to Acquisition
Improvements	25.3
Gross Balance at December 31, 2020
Land	83.6
Building & Improvements	225.5
Total	309.1
Accumulated Depreciation	$ (46)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Retail, Constructed 2010
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 72.5
Initial Cost
Land	6.2
Building & Improvements	109.5
Costs Capitalized Subsequent to Acquisition
Improvements	7.2
Gross Balance at December 31, 2020
Land	5.1
Building & Improvements	97.3
Total	102.4
Accumulated Depreciation	$ (16.1)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Commercial Portfolio 1, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 187.1
Initial Cost
Land	128.4
Building & Improvements	216.4
Costs Capitalized Subsequent to Acquisition
Improvements	8
Gross Balance at December 31, 2020
Land	107
Building & Improvements	187.5
Total	294.5
Accumulated Depreciation	$ (27.9)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Portfolio, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	28.1
Building & Improvements	58.6
Costs Capitalized Subsequent to Acquisition
Improvements	22.4
Gross Balance at December 31, 2020
Land	31.5
Building & Improvements	66.2
Total	97.7
Accumulated Depreciation	$ (6.9)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Portfolio, Acquired 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 69.9
Initial Cost
Land	32.1
Building & Improvements	70.4
Costs Capitalized Subsequent to Acquisition
Improvements	2
Gross Balance at December 31, 2020
Land	30.2
Building & Improvements	68.3
Total	98.5
Accumulated Depreciation	$ (8.2)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office, Constructed 2006 And 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0
Building & Improvements	41.3
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0
Building & Improvements	41.3
Total	41.3
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
United Kingdom | Development | Land Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial Cost
Land	4.2
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0.1
Gross Balance at December 31, 2020
Land	4.1
Building & Improvements	0.5
Total	4.6
Accumulated Depreciation	0
Ireland | Commercial | Office, Acquired 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	2
Building & Improvements	4.4
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	1.5
Building & Improvements	6.1
Total	7.6
Accumulated Depreciation	$ (1)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 2003
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 86
Initial Cost
Land	8.2
Building & Improvements	102.6
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	7.3
Building & Improvements	92.1
Total	99.4
Accumulated Depreciation	$ (15)
Depreciable Life in Years	39 years
Ireland | Commercial | Retail, Constructed 1966 And 2005
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 106.4
Initial Cost
Land	59.8
Building & Improvements	83.1
Costs Capitalized Subsequent to Acquisition
Improvements	27.8
Gross Balance at December 31, 2020
Land	53.7
Building & Improvements	102.4
Total	156.1
Accumulated Depreciation	$ (12.4)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 1980
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 83.8
Initial Cost
Land	20.4
Building & Improvements	73.8
Costs Capitalized Subsequent to Acquisition
Improvements	5.8
Gross Balance at December 31, 2020
Land	18.3
Building & Improvements	72
Total	90.3
Accumulated Depreciation	$ (13.1)
Depreciable Life in Years	39 years
Ireland | Commercial | Office Building, Constructed 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	2
Building & Improvements	11.9
Costs Capitalized Subsequent to Acquisition
Improvements	0.2
Gross Balance at December 31, 2020
Land	2.2
Building & Improvements	13.4
Total	15.6
Accumulated Depreciation	$ (1.5)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 2009, Acquired 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	4.2
Building & Improvements	64
Costs Capitalized Subsequent to Acquisition
Improvements	2
Gross Balance at December 31, 2020
Land	4.5
Building & Improvements	69.9
Total	74.4
Accumulated Depreciation	$ (8.1)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 1841
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	4.9
Building & Improvements	18.5
Costs Capitalized Subsequent to Acquisition
Improvements	7.9
Gross Balance at December 31, 2020
Land	5
Building & Improvements	27.1
Total	32.1
Accumulated Depreciation	$ (1.7)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 1840 and 2000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 26.2
Initial Cost
Land	11
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	43.3
Gross Balance at December 31, 2020
Land	11.5
Building & Improvements	43.3
Total	54.8
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Ireland | Hotel | Hotel, Constructed 1824, 2005
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 88
Initial Cost
Land	54
Building & Improvements	114.3
Costs Capitalized Subsequent to Acquisition
Improvements	37.9
Gross Balance at December 31, 2020
Land	50.8
Building & Improvements	148.1
Total	198.9
Accumulated Depreciation	$ (31.2)
Depreciable Life in Years	39 years
Ireland | Development | Office, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 18.1
Initial Cost
Land	0.5
Building & Improvements	3.4
Costs Capitalized Subsequent to Acquisition
Improvements	23.4
Gross Balance at December 31, 2020
Land	0.6
Building & Improvements	34.1
Total	34.7
Accumulated Depreciation	0
Ireland | Development | Retail Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	17.2
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	6.8
Gross Balance at December 31, 2020
Land	18.6
Building & Improvements	6.8
Total	25.4
Accumulated Depreciation	0
Ireland | Development | Office, Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	0
Building & Improvements	1.3
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0
Building & Improvements	1.3
Total	1.3
Accumulated Depreciation	0
Spain | Commercial | Retail Portfolio, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	1.8
Building & Improvements	5
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	1.9
Building & Improvements	5.5
Total	7.4
Accumulated Depreciation	$ (0.7)
Depreciable Life in Years	39 years
Spain | Commercial | Retail, Constructed 1995
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 43.6
Initial Cost
Land	27.1
Building & Improvements	46.2
Costs Capitalized Subsequent to Acquisition
Improvements	13.9
Gross Balance at December 31, 2020
Land	32.4
Building & Improvements	69.2
Total	101.6
Accumulated Depreciation	$ (8.6)
Depreciable Life in Years	39 years
Spain | Development | Retail, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0
Building & Improvements	34.7
Costs Capitalized Subsequent to Acquisition
Improvements	11.9
Gross Balance at December 31, 2020
Land	0
Building & Improvements	49
Total	49
Accumulated Depreciation	0
Spain | Development | Retail Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	0
Building & Improvements	13.9
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0
Building & Improvements	15.1
Total	15.1
Accumulated Depreciation	0
Italy | Commercial | Office Portfolio, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	26.3
Building & Improvements	74.8
Costs Capitalized Subsequent to Acquisition
Improvements	0.7
Gross Balance at December 31, 2020
Land	35.4
Building & Improvements	101
Total	136.4
Accumulated Depreciation	$ (12.6)
Depreciable Life in Years	39 years
Pacific Northwest | Commercial | Retail Constructed 1956
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 5.3
Initial Cost
Land	2.3
Building & Improvements	8.1
Costs Capitalized Subsequent to Acquisition
Improvements	1.5
Gross Balance at December 31, 2020
Land	2.2
Building & Improvements	9.2
Total	11.4
Accumulated Depreciation	$ (0.7)
Depreciable Life in Years	39 years
Pacific Northwest | Commercial | Office, Constructed 1999 and 2001
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 77
Initial Cost
Land	30.6
Building & Improvements	106
Costs Capitalized Subsequent to Acquisition
Improvements	3.2
Gross Balance at December 31, 2020
Land	30.6
Building & Improvements	109.2
Total	139.8
Accumulated Depreciation	$ (9.8)
Depreciable Life in Years	39 years
Pacific Northwest | Multifamily | 217-unit Multifamily property, Constructed 2011
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 22.2
Initial Cost
Land	2.6
Building & Improvements	41.4
Costs Capitalized Subsequent to Acquisition
Improvements	3.9
Gross Balance at December 31, 2020
Land	2.5
Building & Improvements	43
Total	45.5
Accumulated Depreciation	$ (10.7)
Depreciable Life in Years	39 years
Number of units | Unit	217
Pacific Northwest | Multifamily | 203-Unit Multifamily Building, Constructed 2005
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 19.5
Initial Cost
Land	2.6
Building & Improvements	23.8
Costs Capitalized Subsequent to Acquisition
Improvements	2.7
Gross Balance at December 31, 2020
Land	2.6
Building & Improvements	27.2
Total	29.8
Accumulated Depreciation	$ (5.9)
Depreciable Life in Years	39 years
Number of units | Unit	203
Pacific Northwest | Multifamily | 280-Unit Multifamily Building, Constructed 2004, 2006
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 36.6
Initial Cost
Land	6
Building & Improvements	40.3
Costs Capitalized Subsequent to Acquisition
Improvements	2.7
Gross Balance at December 31, 2020
Land	6
Building & Improvements	43
Total	49
Accumulated Depreciation	$ (7.8)
Depreciable Life in Years	39 years
Number of units | Unit	280
Pacific Northwest | Multifamily | Condo, Constructed 2005
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0
Building & Improvements	0.2
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0
Building & Improvements	1
Total	1
Accumulated Depreciation	$ (0.1)
Depreciable Life in Years	39 years
Pacific Northwest | Multifamily | 430-Unit Multifamily Building, Constructed 2006
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 62.6
Initial Cost
Land	12.8
Building & Improvements	67.4
Costs Capitalized Subsequent to Acquisition
Improvements	4
Gross Balance at December 31, 2020
Land	12.8
Building & Improvements	71.3
Total	84.1
Accumulated Depreciation	$ (9.1)
Depreciable Life in Years	39 years
Number of units | Unit	430
Pacific Northwest | Multifamily | 408-Unit Multifamily Building, Constructed 1998
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 60.4
Initial Cost
Land	9.3
Building & Improvements	83.3
Costs Capitalized Subsequent to Acquisition
Improvements	4.1
Gross Balance at December 31, 2020
Land	9.3
Building & Improvements	87.4
Total	96.7
Accumulated Depreciation	$ (10.4)
Depreciable Life in Years	39 years
Number of units | Unit	408
Pacific Northwest | Multifamily | 210-Multifamily Building, Constructed 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 29
Initial Cost
Land	11
Building & Improvements	46.7
Costs Capitalized Subsequent to Acquisition
Improvements	0.9
Gross Balance at December 31, 2020
Land	11
Building & Improvements	47.6
Total	58.6
Accumulated Depreciation	$ (4.2)
Depreciable Life in Years	39 years
Number of units | Unit	210
Pacific Northwest | Multifamily | 264-Unit Multifamily Building, Constructed 1997
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 25.2
Initial Cost
Land	6.4
Building & Improvements	44.9
Costs Capitalized Subsequent to Acquisition
Improvements	4.3
Gross Balance at December 31, 2020
Land	6.4
Building & Improvements	49.2
Total	55.6
Accumulated Depreciation	$ (4.7)
Depreciable Life in Years	39 years
Number of units | Unit	264
Pacific Northwest | Multifamily | 343-Unit Multifamily Building, Constructed 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 84
Initial Cost
Land	26.8
Building & Improvements	107.4
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	26.8
Building & Improvements	107.9
Total	134.7
Accumulated Depreciation	$ (8.6)
Depreciable Life in Years	39 years
Number of units | Unit	343
Pacific Northwest | Multifamily | 179-Unit Multifamily Building, Constructed 2013
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 33
Initial Cost
Land	11.9
Building & Improvements	47.4
Costs Capitalized Subsequent to Acquisition
Improvements	0.2
Gross Balance at December 31, 2020
Land	11.9
Building & Improvements	48.8
Total	60.7
Accumulated Depreciation	$ (4)
Depreciable Life in Years	39 years
Number of units | Unit	179
Northern California | Commercial | Office Constructed 2000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 61.4
Initial Cost
Land	23.5
Building & Improvements	57.3
Costs Capitalized Subsequent to Acquisition
Improvements	0.3
Gross Balance at December 31, 2020
Land	23.5
Building & Improvements	57.6
Total	81.1
Accumulated Depreciation	$ (1.7)
Depreciable Life in Years	39 years
Northern California | Multifamily | 178-unit Apartment building, Constructed 1975
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 31.4
Initial Cost
Land	12.3
Building & Improvements	18.5
Costs Capitalized Subsequent to Acquisition
Improvements	9.4
Gross Balance at December 31, 2020
Land	12.3
Building & Improvements	28.9
Total	41.2
Accumulated Depreciation	$ (10.5)
Depreciable Life in Years	39 years
Number of units | Unit	178
Northern California | Multifamily | 542-Unit Multifamily Building, Constructed, 1987
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 89.2
Initial Cost
Land	38.3
Building & Improvements	57.5
Costs Capitalized Subsequent to Acquisition
Improvements	10.8
Gross Balance at December 31, 2020
Land	38.3
Building & Improvements	68.9
Total	107.2
Accumulated Depreciation	$ (16.1)
Depreciable Life in Years	39 years
Number of units | Unit	542
Northern California | Multifamily | 1,008-Unit Multifamily Building, Constructed 1988
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 175
Initial Cost
Land	62.3
Building & Improvements	152.5
Costs Capitalized Subsequent to Acquisition
Improvements	21.1
Gross Balance at December 31, 2020
Land	62.3
Building & Improvements	173.6
Total	235.9
Accumulated Depreciation	$ (31.3)
Depreciable Life in Years	39 years
Number of units | Unit	1,008
Hawaii | Ground Leases | 2700 acres
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	31.7
Building & Improvements	3.8
Costs Capitalized Subsequent to Acquisition
Improvements	0.7
Gross Balance at December 31, 2020
Land	32.2
Building & Improvements	4.3
Total	36.5
Accumulated Depreciation	$ (2)
Area of real estate property (in sq ft) | a	2,700
Hawaii | Ground Leases | 3 Lots
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	16.5
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	16.5
Building & Improvements	0
Total	16.5
Accumulated Depreciation	$ 0
Number of lots | lot	3

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Changes in Real Estate Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the beginning of period	$ 5,430.5	$ 5,981.7	$ 6,578.6
Additions during the period:
Other acquisitions	183	176.2	210.3
Improvements	108.4	270	355.1
Foreign currency	129.9	26.7	(191.7)
Deductions during the period:
Cost of real estate sold	(644.1)	(1,024.1)	(970.6)
Balance at close of period	$ 5,207.7	$ 5,430.5	$ 5,981.7

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Changes in Accumulated Depreciation Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the beginning of period	$ 466.8	$ 406.5	$ 344
Additions during the period:
Depreciation expense	121.5	110.2	110.8
Deductions during the period:
Dispositions	(54.5)	(49)	(36)
Foreign currency	18	(0.9)	(12.3)
Balance at close of period	$ 551.8	$ 466.8	$ 406.5