Kennedy-Wilson (KW) 10-K 25 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 24, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
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			$ 2,184,053,671
Entity Common Stock, Shares Outstanding		137,874,895
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 9, 2022, which proxy statement will be filed no later than 120 days after the close of the registrant’s fiscal year ended December 31, 2021.
Entity Central Index Key	0001408100
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Los Angeles, CA
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents		$ 524.8	$ 965.1
Accounts receivable, net (including $14.2 and $12.6 of related party)		36.1	47.9
Real estate and acquired in place lease values (net of accumulated depreciation and amortization of $838.1 and $815.0)		5,059.8	4,720.5
Unconsolidated investments (including $1,794.8 and $1,136.5 at fair value)		1,947.6	1,289.3
Other assets		177.9	199.1
Loan purchases and originations		130.3	107.1
Total assets	[1]	7,876.5	7,329
Liabilities
Accounts payable		18.6	30.1
Accrued expenses and other liabilities		619.1	531.7
Total liabilities	[1]	6,072.6	5,656.3
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, 2021 and December 31, 2020		295.2	295.2
Common Stock, $0.0001 par value, 200,000,000 authorized, 137,955,479 and 141,365,323 shares issued outstanding as of December 31, 2021 and December 31, 2020		0	0
Additional paid-in capital		1,679.6	1,725.2
Retained earnings		192.4	17.7
Accumulated other comprehensive loss		(389.6)	(393.6)
Total Kennedy-Wilson Holdings, Inc. shareholders’ equity		1,777.6	1,644.5
Noncontrolling interests		26.3	28.2
Total equity		1,803.9	1,672.7
Total liabilities and equity		7,876.5	7,329
Mortgage debt
Liabilities
Debt		2,959.8	2,589.8
KW unsecured debt
Liabilities
Debt		1,852.3	1,332.2
KWE unsecured bonds
Liabilities
Debt		$ 622.8	$ 1,172.5
[1]	The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from consolidated variable interest entities ("VIEs"). 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 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, 2021	Dec. 31, 2020
Assets
Accounts receivable, net (including $14.2 and $12.6 of related party)		$ 14.2	$ 12.6
Real estate and acquired in place lease values (net of accumulated depreciation and amortization of $838.1 and $815.0)		838.1	815
Unconsolidated investments (including $1,794.8 and $1,136.5 at fair value)		1,794.8	1,136.5
Assets	[1]	7,876.5	7,329
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		5,059.8	4,720.5
Liabilities
Total liabilities	[1]	$ 6,072.6	$ 5,656.3
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)		137,955,479	141,365,323
Common stock outstanding (in shares)		137,955,479	141,365,323
Variable Interest Entity, Primary Beneficiary
Assets
Assets		$ 189.6	$ 166
Cash held by consolidated investments		11.5	9.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		152.8	150
Liabilities
Total liabilities		129.2	107.7
Variable Interest Entity, Primary Beneficiary | Investment Debt
Liabilities
Debt		$ 103.3	$ 97.5
[1]	The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from consolidated variable interest entities ("VIEs"). 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 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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue
Total revenue	$ 453.6	$ 454	$ 568.8
Gain on sale of real estate, net	412.7	338	434.4
Income from unconsolidated investments
Principal co-investments	271.1	78.3	143.4
Performance allocations	117.9	2.7	36.3
Income from unconsolidated investments	389	81	179.7
Expenses
Share-based compensation	28.7	32.3	30.1
Performance allocation compensation	42	0.2	0.1
General and administrative	33.3	34.6	42.4
Depreciation and amortization	166.3	179.6	187.6
Total expenses	549.6	508.1	594.7
Interest expense	(192.4)	(201.9)	(214.2)
Loss on early extinguishment of debt	(45.7)	(9.3)	(0.9)
Other loss	(5)	(2.3)	(10.6)
Income before provision for income taxes	462.6	151.4	362.5
Provision for income taxes	(126.2)	(43.6)	(41.4)
Net income	336.4	107.8	321.1
Net (income) loss attributable to the noncontrolling interests	(6)	2.3	(94.4)
Preferred dividends	(17.2)	(17.2)	(2.6)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 313.2	$ 92.9	$ 224.1
Basic Earnings per share
Income per basic (in dollars per share)	$ 2.26	$ 0.66	$ 1.60
Weighted average shares outstanding for basic (in shares)	138,552,058	139,741,411	139,729,573
Diluted Earnings per share
Income per diluted (in dollars per share)	$ 2.24	$ 0.66	$ 1.58
Weighted average shares outstanding for diluted (in shares)	140,132,435	140,347,365	141,501,323
Dividends declared per common share (in dollars per share)	$ 0.90	$ 0.88	$ 0.85
Rental
Revenue
Total revenue	$ 390.5	$ 403.9	$ 447.4
Expenses
Cost of goods sold	132.7	135.7	152.9
Hotel
Revenue
Total revenue	17.1	13.9	80.5
Expenses
Cost of goods sold	12.7	13.8	60.1
Investment management fees
Revenue
Total revenue	35.3	22.5	24.9
Property Service Fees
Revenue
Total revenue	2.1	10.6	15.7
Loans and other
Revenue
Total revenue	8.6	3.1	0.3
Compensation and related
Expenses
Cost of goods sold	$ 133.9	$ 111.9	$ 121.5

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related party fees	$ 35.3	$ 22.8	$ 25.6
Investment management fees
Related party fees	35.3	22.5	24.9
Property Service Fees
Related party fees	$ 0	$ 0.3	$ 0.7

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net income	$ 336.4	$ 107.8	$ 321.1
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain	(58.3)	66.5	(13.3)
Amounts reclassified out of AOCI during the year	2.2	0.8	10.4
Total other comprehensive income for the year	3.3	24.2	35.1
Comprehensive income	339.7	132	356.2
Comprehensive (income) loss attributable to noncontrolling interests	(5.2)	1.7	(105)
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.	334.5	133.7	251.2
Foreign Exchange Contract
Other comprehensive (loss) income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps	56.2	(37.8)	38.7
Interest Rate Swap
Other comprehensive (loss) income, net of tax:
Unrealized forward contract forward currency (loss) gain and Unrealized loss on interest rate swaps	$ 3.2	$ (5.3)	$ (0.7)

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, 2018				0	143,205,394
Balance at beginning 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 income (loss):
Unrealized foreign currency translation gain, 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)
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 income (loss):
Unrealized foreign currency translation gain, 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)
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares forfeited (in shares)					(237,588)
Restricted stock grants (RSG) (in shares)					619,945
Shares retired due to RSG vesting (in shares)					(967,536)
Shares retired due to RSG Vesting	(20.5)					(20.5)
Shares retired due to common stock repurchase program (in shares)					(2,824,665)
Shares retired due to common stock repurchase program	(62.7)					(50)	(12.7)
Stock based compensation					$ 28.7	28.7
Other comprehensive income (loss):
Unrealized foreign currency translation gain, net of tax	(56.6)							(55.8)			(0.8)
Unrealized currency derivative contracts gain (loss)		$ 56.1	$ 3.7						$ 56.1	$ 3.7
Common stock dividends	(125.8)						(125.8)
Preferred stock dividends	(17.2)						(17.2)
Net income	336.4						330.4				6
Contributions from noncontrolling interests	7.8										7.8
Distributions to noncontrolling interests	(18.7)										(18.7)
Incentive allocations to noncontrolling interests	0					(3.8)					3.8
Ending balance outstanding (in shares) at Dec. 31, 2021				300,000	137,955,479
Balance at end of period at Dec. 31, 2021	$ 1,803.9			$ 295.2	$ 0	$ 1,679.6	$ 192.4	$ (389.6)			$ 26.3

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income		$ 336.4	$ 107.8	$ 321.1
Adjustments to reconcile net income to net cash used in operating activities:
Gain on sale of real estate, net		(412.7)	(338)	(434.3)
Depreciation and amortization		166.3	179.6	187.6
Above/below and straight-line rent amortization		6.8	(10.2)	(4.6)
Uncollectible lease income		12.9	13.5	0
Provision for deferred income taxes		112.2	27.2	26.7
Amortization of loan fees		16.2	0.8	9.3
Amortization of discount and accretion of premium on senior notes payable		2.4	8.5	1.6
Unrealized net gain on derivatives		(4.6)	(5.4)	(5.9)
Income from unconsolidated investments		(389)	(81)	(179.7)
Accretion of interest income on loans		(0.5)	(0.9)	(0.1)
Stock compensation expense		28.7	32.3	30.2
Deferred compensation		56.3	6.4	3.8
Operating distributions from unconsolidated investments		82.2	59.7	74.1
Operating distributions from loans		0	0.7	0
Change in assets and liabilities:
Accounts receivable		(0.5)	(9)	1
Other assets		(18.8)	0	(25.8)
Accrued expenses and other liabilities		(24.6)	(4.6)	(24.5)
Net cash used in operating activities		(30.3)	(12.6)	(19.5)
Cash flows from investing activities:
Issuance of loans		(83.4)	(88.6)	(2.7)
Proceeds from collection of loans		58.1	34.1	0.6
Net proceeds from sale of consolidated real estate		486.4	827.8	701
Purchases of consolidated real estate		(1,131.8)	(70.1)	(210.9)
Capital expenditures to real estate		(139.2)	(194.1)	(191.1)
Investment in marketable securities		0	(12.1)	0
Proceeds from sale of marketable securities		0	10.2	0
Investing distributions from unconsolidated investments		82.8	177.5	115
Contributions to unconsolidated investments		(280.8)	(111.6)	(266)
Proceeds from settlement of foreign currency derivative contracts		(30.1)	15.5	33.4
Additions to development project asset		0	0	(1.2)
Proceeds from sale of development project asset		0	2.2	4.2
Net cash (used in) provided by investing activities		(1,038)	590.8	182.3
Cash flow from financing activities:
Borrowings under senior notes payable		1,804.3	0	0
Repayment of senior notes payable		(1,150)	0	0
Borrowings under line of credit/term loan		314.3	200	125
Repayment of line of credit/term loan		(438.5)	0	(200)
Borrowings under mortgage debt		1,144.9	296.4	488.6
Repayment of mortgage debt		(268.2)	(487.1)	(391.4)
Repayment of KWE Bonds		(504.4)	0	0
Payment of loan fees		(35.6)	(5.6)	(4.8)
Repurchase of common stock		(83.2)	(57.4)	(20.7)
Issuance of preferred stock		0	0	295.2
Common stock dividends paid		(123.5)	(126.1)	(114.9)
Preferred stock dividends paid		(17.2)	(13.6)	(2.6)
Borrowings (repayment) of shareholder loans to noncontrolling interests		0	1.2	(11.2)
Contributions from noncontrolling interests		7.8	4.5	15
Distributions to noncontrolling interests		(18.7)	(18.9)	(264)
Net cash provided by (used in) financing activities		632	(206.6)	(85.8)
Effect of currency exchange rate changes on cash and cash equivalents		(4)	19.6	8.9
Net change in cash and cash equivalents		(440.3)	391.2	85.9
Cash and cash equivalents, beginning of year		965.1	573.9	488
Cash and cash equivalents, end of year		524.8	965.1	573.9
Cash paid for:
Interest	[1],[2]	183.7	209.7	211.1
Income taxes		$ 16.5	$ 12.6	$ 20.6
[1]	$4.1 million, $4.3 million, and $3.5 million attributable to non-controlling interests for the years ended December 31, 2021, 2020, and 2019.
[2]	Excludes $3.2 million, $3.4 million, and $3.8 million of capitalized interest during the for the years ended December 31, 2021, 2020 and 2018.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)parcel	Dec. 31, 2019USD ($)assetproperty_unit	Jan. 01, 2019USD ($)
Interest paid attributable to noncontrolling interest	$ 4.1	$ 4.3	$ 3.5
Interest paid, capitalized	3.2	3.4	3.8
Restricted cash	$ 24.2	101.7	54.5
Equity method investment, ownership percentage (as a percent)	51.00%
Noncash activity, unconsolidated investments	$ 178.8
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	10	$ 11.2
Total lease liabilities	$ 10
Axa Joint Venture | Multifamily
Equity method investment, ownership percentage (as a percent)		80.00%
Non-cash contribution to acquire interest in joint venture			$ 92.2
Ownership percentage sold of equity method investment	30.00%	20.00%
Proceeds from divestiture of interest in joint venture		$ 23
Axa Joint Venture | Multifamily | Ireland
Ownership percentage sold of equity method investment		20.00%
Number of assets sold | asset			3
Number of units sold | property_unit			468
Accounting Standards Update 2016-02
Operating lease, right-of-use asset				$ 13.6
Total lease liabilities				$ 13.6

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2021
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, 2021
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 consolidation 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. Statement of Income Presentation As the Co-Investment business has grown, the Company is updating the presentation of related items in the statements of income for all periods presented as this presentation reflects the prominence of this core part of our business and more closely represents how management evaluates results during an accounting period. The income from unconsolidated investments caption has been expanded to show principal co-investments and performance allocations. Principal co-investments consists of unrealized and realized gains on the Company's Co-Investments including any fair value adjustments and the Company’s share of net income and losses from Co-Investments. Performance allocations relate to special allocations to co-investments the Company manages based on the cumulative performance of the fund or investment and are subject to preferred return thresholds of its limited partners. These captions have been moved above expenses as the Co-Investments business is a significant part of the Company’s business. As the Company has compensation expense and general and administrative expenses relating to the management of this business, presenting these amounts before Expenses also provides a better understanding of the nature of those expenses. Based on the foregoing, the Company has concluded this change in presentation is justified by the circumstances thereby supporting presentation in a different position and in a different manner from its historical presentation. The Company has reported significant gains on sale of real estate, net in each period presented. Previously, gains on sale of real estate were presented after expenses. These gains contribute to the Company’s compensation and related expenses and accordingly presentation of this significant, recurring component that is directly correlated to expenses should, in management’s view, precede those expenses on the statements of income. Furthermore, the Company accounts for gains on sale of real estate under ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets and we have determined that the updated presentation complies with that standard. 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, leasing and commission fees, loan interest income 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 allocations, 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. 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 from its auction sales and marketing business. 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. 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. 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. Under ASC Subtopic 610-20, the Company recognizes the entire gain attributed to contributions of real estate properties to unconsolidated entities. 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 elected the fair value option for 47 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. Additionally, 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. Performance allocations 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 allocation 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 allocation to reflect either (a) positive performance resulting in an increase in the performance allocation 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 income from unconsolidated investments, resulting in a negative adjustment to performance allocations to the general partner or asset manager. As of December 31, 2021, the Company has $169.7 million of accrued performance allocations recorded to unconsolidated investments that are subject to future adjustments based on the underlying performance of investments. During the year ended December 31, 2021, the Company collected $9.6 million of previously accrued performance allocations. The Company has concluded that performance allocations to the Company, based on cumulative performance to-date, represent carried interests. For equity method investments, these allocations 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 allocations are included in the determination of fair value under ASC Topic 820, Fair Value Measurement . Performance allocation compensation is recognized in the same period that the related performance allocations are recognized and can be reversed during periods when there is a reversal of performance allocations that were previously recognized. 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 Intangibles - Goodwill and Other , 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, 2021, 2020 and 2019. 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, 2021, 2020, and 2019 we have $24.2 million, $101.7 million, and $54.5 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 Property, Plant and Equipment . 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. 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, Compensation - Stock Compensation. 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, 2021. The Company has received some requests for lease modifications and has granted some deferrals but the amount 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. 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 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 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, 2021 the Company has $130.3 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 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. The Company will evaluate its debt and derivative contracts that may become eligible for modification relief and may apply the elections prospectively as needed. The FASB did not issue any other ASUs during the year ended December 31, 2021 that the Company expects to be applicable and have a material impact on the Company's financial position or results of operations.

REAL ESTATE AND ACQUIRED IN PLA

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE	12 Months Ended
	Dec. 31, 2021
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, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 Land $ 1,277.6 $ 1,225.1 Buildings 3,744.1 3,436.0 Building improvements 545.6 546.6 Acquired in-place lease values 330.6 327.8 5,897.9 5,535.5 Less accumulated depreciation and amortization (838.1) (815.0) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,059.8 $ 4,720.5 Real property, including land, buildings, and building improvements, are included in real estate and are generally stated at cost. Buildings and building improvements are depreciated on 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 6.9 years at December 31, 2021. Depreciation and amortization expense on buildings, building improvements and acquired in-place lease values for the years ended December 31, 2021, 2020 and 2019 was $151.3 million, $165.7 million and $173.4 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 after arms-length negotiations. During the year ended December 31, 2021, 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. Ten multifamily properties $ 166.1 $ 610.9 $ 2.3 $ 469.1 $ 310.2 United Kingdom Two commercial properties 95.9 231.3 22.3 — 349.5 $ 262.0 $ 842.2 $ 24.6 $ 469.1 $ 659.7 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. 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 and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. Gains on Sale of Real Estate, Net During the years ended December 31, 2021, 2020 and 2019, Kennedy Wilson recognized the following net gains on sale of real estate. Included in the net gains for December 31, 2021 is an impairment loss of $20.9 million on two retail properties in the United Kingdom and an additional impairment on a residential property in the Western United States. Included in the net gains for December 31, 2020 is an $15.6 million impairment loss on five retail properties in the United Kingdom and a residential property in the Western United States. 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 2021 Primarily due to the sale of a 49% equity interest in nine multifamily properties in Western United States that were previously wholly-owned and controlled by the Company and the sale of a wholly-owned office property in the United Kingdom $ 433.6 $ — $ 433.6 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 (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 certain transactions resulting in the deconsolidation of the Company's interest in investments previously consolidated in the Company's financial statements, the Company recognized (i) $332.0 million through gain on sale of real estate, net during the year ended December 31, 2021, (ii) a gain of $126.3 million through gain on sale of real estate, net, during the year ended December 31, 2020, and (iii) 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. Due to the sale and deconsolidation of the assets that make up the MF seed portfolio, the Company recognized a $332.0 million gain on sale of real estate asset and generated $166.4 million of cash proceeds for the Company. The gain is due to the sale of the 49% interest to the Company's partner and the recording of the Company's retained 51% interest in unconsolidated investments at the fair value established by the transaction. The MF seed portfolio and subsequent investments within the separate account are accounted for at fair value as the Company has elected to account for this investment under the fair value adoption. 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 ("European Industrial JV"). The European Industrial JV commenced with 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 European Industrial JV through its retained 20% ownership interest in the joint venture. As the Company does not control the European Industrial JV, the assets are no longer consolidated and the European 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. The Company recognized a $126.3 million gain from the sale and deconsolidation. During the second quarter of 2019, AXA Investment Managers - Real Assets ("AXA") invested in a 50% ownership stake in the State Street office building, Capital Dock office buildings and Capital Dock residential tower in Dublin, Ireland that was previously held by the Company and different equity partners. These investments were previously consolidated in the Company’s consolidated financial statements. During the fourth quarter of 2019, the Company sold 468 multifamily units across three assets in Dublin, Ireland into the joint venture with AXA that were previously wholly owned by the Company. The Company recognized a gross gain of $317.8 million in gain on sale of real estate and $105.4 million which was allocated to noncontrolling interests for a net gain of $212.4 million. 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, 2021: (Dollars in millions) Minimum Rental Revenues (1) 2022 $ 154.7 2023 135.4 2024 111.8 2025 95.7 2026 78.3 Thereafter 239.0 Total $ 814.9 (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, 2021
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, 2021: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 592.1 $ 81.0 $ 131.0 $ 189.2 $ 179.6 $ 1,172.9 Ireland 389.5 141.1 — 3.1 — 533.7 United Kingdom — 169.3 — 42.9 28.8 241.0 Total $ 981.6 $ 391.4 $ 131.0 $ 235.2 $ 208.4 $ 1,947.6 The following table details the 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 During the year ended December 31, 2021, the change in unconsolidated investments primarily relates to $280.8 million of cash contributions to unconsolidated investments, $165.0 million of distributions from unconsolidated investments, $178.8 million associated with the deconsolidation of the MF seed portfolio as discussed in Note 3, $389.0 million of income from unconsolidated investments (including $213.5 million of fair value gains), and a $32.2 million decrease related to other items which primarily related to foreign exchange movements. As of December 31, 2021 and December 31, 2020, $1,794.8 million and $1,136.5 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, 2021, Kennedy Wilson contributed $280.8 million to joint ventures, primarily to fund new acquisitions in the Company's European Industrial JV separate account and capital calls with respect to the Kona Village hotel development. Distributions from Joint Ventures The following table details cash distributions by investment type and geographic location for the year ended December 31, 2021: Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 29.7 $ 22.5 $ 9.4 $ 9.6 $ 24.1 $ 5.3 $ — $ 22.1 $ 63.2 $ 59.5 Ireland 5.7 23.2 10.0 — — — — — 15.7 23.2 United Kingdom — — 3.3 — — — — 0.1 3.3 0.1 Total $ 35.4 $ 45.7 $ 22.7 $ 9.6 $ 24.1 $ 5.3 $ — $ 22.2 $ 82.2 $ 82.8 Investing distributions resulted primarily from the sales of one multifamily property and two office properties in Fund VI, refinancing and buyouts from limited partners in the VHH portfolio, and a partial redemption of a non-core hedge fund investment. Operating distributions resulted from operating cash flow generated by the joint venture investments that have been distributed to the Company. Income from Unconsolidated Investments The following table presents income from unconsolidated investments recognized by Kennedy Wilson during the years ended December 31, 2021, 2020 and 2019: Year Ended December 31, (Dollars in millions) 2021 2020 2019 Income from unconsolidated investments - operating performance $ 60.7 $ 43.4 $ 35.5 Income from unconsolidated investments - realized gains cost basis investments — — 53.5 Income from unconsolidated investments - unrealized and realized fair value gains 213.5 47.2 64.7 Income from unconsolidated investments - realized losses and impairment (3.1) (12.3) (10.3) Principal co-investments 271.1 78.3 143.4 Income from unconsolidated investments - performance allocation 117.9 2.7 36.3 $ 389.0 $ 81.0 $ 179.7 Operating performance is related to the ongoing performance from unconsolidated investments. Realized gains are related to completed asset sales. Fair value gains primarily relate to market rate multifamily investments in the Company's Western United States portfolio and was due to increases in NOI and cap rate compression. The cap rate compression was supported by recent transactions entered into by the Company, third-party appraisals, as well as third party transactional and market data. Additionally, the fair value of the Company's investment in Zonda (retained interest from the Meyers disposition in 2018) increased due to favorable operating activity We also saw fair value increases related to the Company's European logistics portfolio, as a result of cap rate compression on industrial assets in the United Kingdom, resyndications at the Company's VHH partnership and exchange movements on Euro denominated unconsolidated investments carried at fair value. Income from performance allocations primarily relates to increase in the Company's unrealized performance allocations related to higher fair values on market rate multifamily properties and European Industrial assets as discussed above. The Company evaluates on a quarterly basis 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 during the year ended December 31, 2021 and 2020. During the year ended December 31, 2019 an impairment was recognized on a residential development project in the Western United States. Vintage Housing Holdings ("VHH") As of December 31, 2021 and 2020, the carrying value of the Company's investment in VHH was $157.9 million and $142.9 million, respectively. The total equity income recognized from the Company's investment in VHH was $41.4 million, $22.8 million and $50.0 million for the years ended December 31, 2021, 2020 and 2019. respectively. Distributions in the current period primarily relate to the refund of advances on two development projects in which VHH provides cash for the construction costs in advance, and other partners subsequently pay their share of the costs back to VHH. Fair value gains in the current period primarily relate to 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 primarily relate to cap rate compression. 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 interest in it. As of December 31, 2021, the carrying value of the Company's investment in KW Europe Fund II was $46.0 million. Refer to the description of the European 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, 2021, the carrying value of the Company's investment in the European Industrial JV was $117.4 million. Capital Commitments As of December 31, 2021, Kennedy Wilson had unfulfilled capital commitments totaling $113.7 million to eight of its unconsolidated joint ventures, including $39.0 million relating to three closed-end funds managed by Kennedy Wilson, under the respective operating agreements. In addition to the unfunded capital commitments, the Company has $140.3 million of equity commitments on various development projects. The Company may be called upon to contribute additional capital to joint ventures in satisfaction of such capital commitment obligations. Summarized financial data The MF seed portfolio had $92.1 million of income from unconsolidated investments which consisted of $73.3 million of fair value gains, $15.7 million of performance allocations and $3.2 million relating to the Company's ownership in the underlying operations of the properties in the portfolio. The income from the MF seed portfolio was significant component and as such the MF seed portfolio is considered a significant subsidiary for the year ended December 31, 2021. Summarized financial information is provided below. As the investment was new during the year, only results for the current period are shown below. As these assets were previously consolidated by the Company amounts for prior periods are reflected as part of consolidation operations in the prior periods. (Dollars in millions) December 31, 2021 Cash $ 10.6 Accounts receivable 2.4 Real estate 943.5 Other 3.3 Total assets $ 959.8 Liabilities Accounts payable and accrued expenses $ 4.4 Debt 458.9 Total liabilities 463.3 Equity Kennedy Wilson - investment in unconsolidated investments 268.9 Partner 227.6 Total equity 496.5 Total liabilities and equity $ 959.8 (Dollars in millions) Year Ended December 31, 2021 Rental income $ 31.6 Unrealized fair value gains 145.6 Rental expenses (10.2) Interest expense (8.2) Other expense (9.0) Net income 149.8 Income attributable to partner (57.7) Income from unconsolidated investments $ 92.1

FAIR VALUE MEASUREMENTS AND THE

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION	12 Months Ended
	Dec. 31, 2021
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, 2021: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 1,794.8 $ 1,794.8 Net currency derivative contracts — 8.5 — 8.5 Total $ — $ 8.5 $ 1,794.8 $ 1,803.3 The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 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 Unconsolidated Investments Kennedy Wilson elected to use the FV Option for 47 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 $1,568.5 million and $999.2 million at December 31, 2021 and 2020, 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 $226.3 million and $137.3 million at December 31, 2021 and 2020, 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 47 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, 2021 December 31, 2020 FV Option $ 1,568.5 $ 999.2 Funds 226.3 137.3 Total $ 1,794.8 $ 1,136.5 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) 2021 2020 2019 Beginning balance $ 1,136.5 $ 1,099.3 $ 662.2 Unrealized and realized gains, including performance allocations 390.0 109.8 161.1 Unrealized and realized losses (5.0) (13.5) (26.9) Contributions 273.8 109.2 191.2 Distributions (144.3) (189.7) (104.1) Foreign Exchange (28.4) 24.5 (3.4) Other 172.2 (3.1) 219.2 Ending Balance $ 1,794.8 $ 1,136.5 $ 1,099.3 The Other balance for the year ended December 31, 2021 above includes $178.8 million related to the deconsolidation of nine multifamily assets in the MF seed portfolio during the period. For the year ended December 31, 2019 the Other balance includes $125.5 million from the deconsolidation of State Street and Capital Dock and $92.2 million from the deconsolidation of three assets in Dublin, Ireland comprising 468 multifamily units. As the increase in unconsolidated investments was due to a non-cash movement the amounts are reflected in Other above. See notes to cash flow statement and note 3 for further discussion regarding the sale. The change in unrealized gains and losses on Level 3 investments during 2021 and 2020 for investments still held as of December 31, 2021 and 2020 were gains of $195.3 million and $27.4 million, respectively. The change in unrealized and realized gains and losses are included in principal co-investments within income from unconsolidated investments in the accompanying consolidated statements of income. 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 terminal 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, 2021 for real estate assets: Estimated Rates Used For Terminal Capitalization Rates Discount Rates Multifamily 3.70% — 5.25% 5.35% — 7.40% Office 4.00% — 7.75% 5.10% — 9.25% Industrial 3.50% —7.40% 4.40% — 8.40% Retail 5.00% — 7.00% 7.50% — 9.00% Hotel 6.00% 8.25% Residential N/A N/A 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 0.25% 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, its 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 ready 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 have 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 ongoing 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 there has been little disruption to projected cash flows or market driven inputs on the underlying properties as a result of COVID-19. 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, 2021 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 a portion of 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, 2021, 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 . On investments in which the Company has elected the fair value option changes in fair value are recorded to income from unconsolidated investments to offset fair value changes of the currency in which foreign fair value investments are invested. The fair value of the derivative instruments held as of December 31, 2021 and 2020 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, 2021: (Dollars in millions) December 31, 2021 Year Ended December 31, 2021 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized Gains Realized Gains Interest Expense Cash Paid Outstanding EUR USD € 232.5 $ 9.4 $ 5.7 $ 0.5 $ 15.0 $ 3.9 $ — EUR (1) GBP € 40.0 — — — — — — EUR (1)(2) GBP € — — — 40.3 — — — GBP USD £ 535.0 15.1 10.3 10.2 — 4.5 — Total Outstanding 24.5 16.0 51.0 15.0 8.4 — Settled EUR GBP — — 6.7 — — (27.9) GBP USD — — 1.3 — — (2.2) Total Settled — — 8.0 — — (30.1) Total $ 24.5 $ 16.0 $ 59.0 (3) $ 15.0 $ 8.4 $ (30.1) (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 expense of $2.9 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, 2021 and 2020, 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, 2021 and 2020, the Company had additional interest rate expense relating to difference in variable rate and fixed interest rates of $0.9 million and $1.2 million. The changes in fair value on these contracts was a gain of $4.2 million and a loss of $6.9 million for the years ended December 31, 2021 and 2020 and are recorded to other comprehensive loss. During the year end December 31, 2021 the Company sold interests in properties held in the MF seed portfolio that had mortgages with interest rate swaps. Due to the sale and deconsolidation of its interests, the Company recognized $0.8 million to gain on sale of real estate for amounts that had previously been recognized to other comprehensive income. During the year ended December 31, 2020, 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 due to the sale of a consolidated multifamily property which had an interest rate swap designated on one of its variable rate mortgages 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.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following: December 31, (Dollars in millions) 2021 2020 Straight line rent receivable $ 44.3 $ 51.6 Hedge assets 24.5 12.0 Goodwill 23.9 23.9 Furniture and equipment net of accumulated depreciation of $27.4 and $27.2 at December 31, 2021 and December 31, 2020, respectively 17.6 22.3 Other, net of accumulated amortization of $— and $2.1 at December 31, 2021 and 2020, respectively 15.3 19.0 Prepaid expenses 13.3 11.8 Deferred taxes, net 12.6 22.1 Right of use asset, net 10.0 11.2 Above-market leases, net of accumulated amortization of $60.4 and $58.3 at December 31, 2021 and 2020, respectively 8.4 15.0 Leasing commissions, net of accumulated amortization of $9.7 and $7.4 at December 31, 2021 and 2020, respectively 8.0 10.2 Other Assets $ 177.9 $ 199.1 Depreciation and amortization expense related to the above depreciable assets were $14.5 million, $13.6 million, and $14.2 million for the years ended December 31, 2021, 2020 and 2019, respectively. Right of use asset, net The Company, as a lessee, has three office leases and three ground leases, which qualify as operating leases, with remaining lease terms of 2 to 237 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 2022 $ 1.5 2023 0.8 2024 0.5 2025 0.3 2026 0.2 Thereafter 31.9 Total undiscounted rental payments 35.2 Less imputed interest (25.2) Total lease liabilities $ 10.0

MORTGAGE DEBT

MORTGAGE DEBT	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
MORTGAGE DEBT	MORTGAGE DEBT The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of December 31, 2021 and 2020: (Dollars in millions) Carrying amount of mortgage debt as of December 31, (1) Mortgage Debt by Product Type Region 2021 2020 Multifamily (1) Western U.S. $ 1,493.1 $ 1,345.5 Commercial (1) United Kingdom 683.8 429.6 Commercial Western U.S. 351.0 375.2 Commercial (1) Ireland 327.3 320.5 Hotel Ireland 82.0 88.0 Commercial Spain 40.4 43.6 Mortgage debt (excluding loan fees) (1) 2,977.6 2,602.4 Unamortized loan fees (17.8) (12.6) Total Mortgage Debt $ 2,959.8 $ 2,589.8 (1) The mortgage debt payable balances include unamortized debt premiums. Debt premiums 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, 2021 and 2020 was $2.5 million and $4.5 million, respectively. The mortgage debt had a weighted average interest rate of 3.11% and 3.31% per annum as of December 31, 2021 and 2020, respectively. As of December 31, 2021, 78% of Kennedy Wilson's property level debt was fixed rate, 13% was floating rate with interest caps and 9% was floating rate without interest caps, compared to 73% fixed rate, 13% floating rate with interest caps and 14% floating rate without interest caps, as of December 31, 2020. Mortgage Loan Transactions and Maturities During the year ended December 31, 2021, eight acquisitions were partially financed with mortgages, six existing mortgages were refinanced, and two 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, 2021 are as follows: (Dollars in millions) Aggregate Maturities 2022 (1) $ 17.4 2023 374.8 2024 513.9 2025 482.4 2026 478.2 Thereafter 1,108.4 2,975.1 Unamortized debt premium 2.5 Unamortized loan fees (17.8) Total Mortgage Debt $ 2,959.8 (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, 2021, the Company received waivers on certain debt covenants on a loan agreement governing a total of $71.9 million or 2% of our consolidated mortgage balance. The mortgage is secured by a retail shopping center in the United Kingdom. This loan is non-recourse to the Company and the waivers are through February 28, 2022 and typically cover interest coverage and loan-to-value covenants. The Company expects to be in compliance with these covenants subsequent to December 31, 2021, 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, 2021, 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, 2021
Debt Disclosure [Abstract]
KW UNSECURED DEBT	KW UNSECURED DEBT The following table details KW unsecured debt as of December 31, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 Credit Facility $ 75.0 $ 200.0 Senior Notes (1) 1,803.9 1,146.9 KW Unsecured Debt 1,878.9 1,346.9 Unamortized loan fees (26.6) (14.7) Total KW Unsecured Debt $ 1,852.3 $ 1,332.2 (1) The senior notes balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized debt premium as of December 31, 2021 was $3.9 million and a debt discount of $3.1 million as of December 31, 2020. Borrowings Under Credit Facilities The Company, through a wholly-owned subsidiary, has a $500 million unsecured revolving credit and term loan facility (the "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, 2021, 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, 2021, the Company had $75.0 million outstanding on the Second A&R Facility with $425.0 million available to be drawn. The average outstanding borrowings under credit facilities was $72.3 million during the year ended December 31, 2021. Senior Notes On February 11, 2021, Kennedy-Wilson, Inc., as issuer, 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 “initial notes”). On March 15, 2021, Kennedy-Wilson, Inc. issued an additional $100 million aggregate principal of the 2029 notes and an additional $100 million of the 2031 notes. These additional notes were issued as "additional notes" under the indentures pursuant to which Kennedy Wilson previously issued 2029 notes and the 2031 notes. On August 23, 2021, Kennedy-Wilson, Inc. issued $600.0 million aggregate principal amount of 4.750% senior notes due 2030 (the "2030 notes" and, together with the 2029 notes and the 2031 notes, the "notes"). The notes are senior, unsecured obligations of Kennedy Wilson and are guaranteed by Kennedy-Wilson Holdings, Inc. and certain subsidiaries of Kennedy Wilson. The notes accrue interest at a rate of 4.750% (in the case of the 2029 notes), 4.750% (in the case of the 2030 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 for the 2029 notes and 2031 notes and March 1, 2022 for the 2030 notes. The notes will mature on March 1, 2029 (in the case of the 2029 notes), February 1, 2030 (in case of 2030 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), September 1, 2024 (in the case of the 2030 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), September 1, 2024 (in the case of the 2030 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 (for 2029 notes and 2031 notes) and September 1, 2024 (for 2030 notes), 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. As of December 31, 2020, Kennedy Wilson, Inc. had $1.2 billion of 5.875% Senior Notes due 2024 (the "2024 notes"). 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, $576.9 million aggregate principal amount of the 2024 notes were tendered. As a result of the tender offer the Company recognized $14.8 million of loss on early extinguishment of debt due to the tender premium and the proportionate write off of capitalized loan fees and debt discount associated with the bonds retired as part of the tender offer. On April 1, 2021 the Company redeemed the remaining $573.1 million of the 2024 notes using cash on hand from the proceeds of the 2029 notes and 2031 notes. As a result of the redemption the Company recognized an additional $11.7 million of loss on early extinguishment of debt during the year ended December 31, 2021 The indenture governing the 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, enter into sale/leaseback transactions, and enter into consolidations or mergers. The indenture governing the 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, subject to certain exceptions. As of December 31, 2021, the maximum balance sheet leverage ratio was 1.19 to 1.00. See Note 14 for the guarantor and non-guarantor financial statements. As of December 31, 2021, the Company was in compliance with all financial covenants. The following table details the KWE unsecured bonds as of December 31, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 KWE Bonds $ — $ 504.7 KWE Euro Medium Term Note Programme 624.1 669.7 KWE Unsecured Bonds (excluding loan fees) (1) 624.1 1,174.4 Unamortized loan fees (1.3) (1.9) Total KWE Unsecured Bonds $ 622.8 $ 1,172.5 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt discounts represent the difference between the fair value of debt at issuance and the principal value of debt 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 discount as of December 31, 2021 and 2020 was $2.1 million and $2.8 million, respectively. KWE had £500 million of 3.95% fixed-rate senior unsecured bonds due 2022 (the "KWE Bonds") that had a carrying value of $504.7 million as of December 31, 2020. 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 April 26, 2021, KWE completed the redemption of £150.0 million in aggregate nominal amount of the KWE Bonds outstanding which resulted in a $9.3 million loss on early extinguishment of debt due to a make whole premium paid as part of redemption and proportionate write off of loan fees. On October 11, 2021, KWE redeemed the remainder of the KWE Bonds and resulted in a $7.1 million loss on early extinguishment of debt due to a make whole premium paid as part of redemption and proportionate write off of loan fees. KWE also settled the swap arrangement discussed above on the KWE Bonds during the year ended December 31, 2021. In addition, KWE issued senior unsecured notes for an aggregate principal amount of approximately $625.4 million (based on December 31, 2021 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, 2021, Kennedy Wilson recognized a gain of $40.3 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, 2021, KWE was in compliance with these financial covenants.

KWE UNSECURED BONDS

KWE UNSECURED BONDS	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
KWE UNSECURED BONDS	KW UNSECURED DEBT The following table details KW unsecured debt as of December 31, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 Credit Facility $ 75.0 $ 200.0 Senior Notes (1) 1,803.9 1,146.9 KW Unsecured Debt 1,878.9 1,346.9 Unamortized loan fees (26.6) (14.7) Total KW Unsecured Debt $ 1,852.3 $ 1,332.2 (1) The senior notes balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized debt premium as of December 31, 2021 was $3.9 million and a debt discount of $3.1 million as of December 31, 2020. Borrowings Under Credit Facilities The Company, through a wholly-owned subsidiary, has a $500 million unsecured revolving credit and term loan facility (the "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, 2021, 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, 2021, the Company had $75.0 million outstanding on the Second A&R Facility with $425.0 million available to be drawn. The average outstanding borrowings under credit facilities was $72.3 million during the year ended December 31, 2021. Senior Notes On February 11, 2021, Kennedy-Wilson, Inc., as issuer, 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 “initial notes”). On March 15, 2021, Kennedy-Wilson, Inc. issued an additional $100 million aggregate principal of the 2029 notes and an additional $100 million of the 2031 notes. These additional notes were issued as "additional notes" under the indentures pursuant to which Kennedy Wilson previously issued 2029 notes and the 2031 notes. On August 23, 2021, Kennedy-Wilson, Inc. issued $600.0 million aggregate principal amount of 4.750% senior notes due 2030 (the "2030 notes" and, together with the 2029 notes and the 2031 notes, the "notes"). The notes are senior, unsecured obligations of Kennedy Wilson and are guaranteed by Kennedy-Wilson Holdings, Inc. and certain subsidiaries of Kennedy Wilson. The notes accrue interest at a rate of 4.750% (in the case of the 2029 notes), 4.750% (in the case of the 2030 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 for the 2029 notes and 2031 notes and March 1, 2022 for the 2030 notes. The notes will mature on March 1, 2029 (in the case of the 2029 notes), February 1, 2030 (in case of 2030 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), September 1, 2024 (in the case of the 2030 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), September 1, 2024 (in the case of the 2030 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 (for 2029 notes and 2031 notes) and September 1, 2024 (for 2030 notes), 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. As of December 31, 2020, Kennedy Wilson, Inc. had $1.2 billion of 5.875% Senior Notes due 2024 (the "2024 notes"). 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, $576.9 million aggregate principal amount of the 2024 notes were tendered. As a result of the tender offer the Company recognized $14.8 million of loss on early extinguishment of debt due to the tender premium and the proportionate write off of capitalized loan fees and debt discount associated with the bonds retired as part of the tender offer. On April 1, 2021 the Company redeemed the remaining $573.1 million of the 2024 notes using cash on hand from the proceeds of the 2029 notes and 2031 notes. As a result of the redemption the Company recognized an additional $11.7 million of loss on early extinguishment of debt during the year ended December 31, 2021 The indenture governing the 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, enter into sale/leaseback transactions, and enter into consolidations or mergers. The indenture governing the 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, subject to certain exceptions. As of December 31, 2021, the maximum balance sheet leverage ratio was 1.19 to 1.00. See Note 14 for the guarantor and non-guarantor financial statements. As of December 31, 2021, the Company was in compliance with all financial covenants. The following table details the KWE unsecured bonds as of December 31, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 KWE Bonds $ — $ 504.7 KWE Euro Medium Term Note Programme 624.1 669.7 KWE Unsecured Bonds (excluding loan fees) (1) 624.1 1,174.4 Unamortized loan fees (1.3) (1.9) Total KWE Unsecured Bonds $ 622.8 $ 1,172.5 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt discounts represent the difference between the fair value of debt at issuance and the principal value of debt 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 discount as of December 31, 2021 and 2020 was $2.1 million and $2.8 million, respectively. KWE had £500 million of 3.95% fixed-rate senior unsecured bonds due 2022 (the "KWE Bonds") that had a carrying value of $504.7 million as of December 31, 2020. 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 April 26, 2021, KWE completed the redemption of £150.0 million in aggregate nominal amount of the KWE Bonds outstanding which resulted in a $9.3 million loss on early extinguishment of debt due to a make whole premium paid as part of redemption and proportionate write off of loan fees. On October 11, 2021, KWE redeemed the remainder of the KWE Bonds and resulted in a $7.1 million loss on early extinguishment of debt due to a make whole premium paid as part of redemption and proportionate write off of loan fees. KWE also settled the swap arrangement discussed above on the KWE Bonds during the year ended December 31, 2021. In addition, KWE issued senior unsecured notes for an aggregate principal amount of approximately $625.4 million (based on December 31, 2021 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, 2021, Kennedy Wilson recognized a gain of $40.3 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, 2021, KWE was in compliance with these financial covenants.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
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 $35.3 million, $22.8 million and $25.6 million for the periods ended December 31, 2021, 2020 and 2019, 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, 2021, 2020 and 2019 fees of $0.8 million, $1.1 million and $18.1 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

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The table below represents a geographical breakdown of book income (loss) before the provision for income taxes: Year ended December 31, (Dollars in millions) 2021 2020 2019 Domestic $ 447.6 $ (37.0) $ 249.5 Foreign 14.9 188.4 113.0 Total $ 462.5 $ 151.4 $ 362.5 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) 2021 2020 2019 Federal Current $ — $ — $ — Deferred 94.4 23.3 31.2 94.4 23.3 31.2 State Current (0.2) 1.5 0.3 Deferred 9.1 0.4 (4.6) 8.9 1.9 (4.3) Foreign Current 14.2 14.9 14.4 Deferred 8.7 3.5 0.1 22.9 18.4 14.5 Total $ 126.2 $ 43.6 $ 41.4 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) 2021 2020 2019 Tax computed at the statutory rate $ 97.1 $ 31.8 $ 76.1 Tax deduction in excess of book compensation from restricted stock vesting — 0.1 0.3 Domestic permanent differences, primarily disallowed executive compensation 8.1 7.2 6.1 Foreign permanent differences, primarily non-deductible depreciation, amortization and interest expenses in the United Kingdom 8.2 2.0 1.3 Effect of foreign operations, net of foreign tax credit 7.4 (3.7) (16.8) Noncontrolling interests (2.6) (0.9) (22.2) State income taxes, net of federal benefit 7.0 2.9 — Other 1.0 4.2 (3.4) Provision for income taxes $ 126.2 $ 43.6 $ 41.4 Cumulative tax effects of temporary differences are shown below at December 31, 2021 and 2020: Year ended December 31, (Dollars in millions) 2021 2020 Deferred tax assets: Foreign currency translation $ 2.7 $ 3.7 Net operating loss carryforward and credits 172.4 137.1 Investment basis difference 96.8 91.2 Stock option expense 2.2 3.0 Hedging transactions 7.8 13.4 Lease liability 0.1 0.1 Accrued reserves 11.1 0.6 Total deferred tax assets 293.1 249.1 Valuation allowance (257.1) (204.4) Net deferred tax assets 36.0 44.7 Deferred tax liabilities: Investment basis and reserve differences 285.4 159.5 Depreciation and amortization 3.9 20.0 Right of use asset 0.1 0.1 Prepaid expenses and other 2.2 2.8 Capitalized interest 1.3 1.3 Total deferred tax liabilities 292.9 183.7 Deferred tax liability, net $ (256.9) $ (139.0) In December 2017, the Tax Cuts and Jobs Act (“the “TCJA”) was enacted and was effective January 1, 2018. The U.S. Treasury has issued various final and proposed regulatory packages supplementing the TCJA provisions since 2018. In January 2022, the Internal Revenue Service published new and final regulations for U.S. foreign tax credits that will be effective for future periods. The Company is currently assessing the impact of these regulations. During 2019, the United Kingdom enacted a Finance Act, 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 on 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 allowed for rebasing of UK real estate values to fair market value as of April 5, 2019 ("UK Basis Step-Up"). Accordingly, only gains arising from property value increases after April 5, 2019 are 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. Therefore, a full valuation allowance was recorded against the UK deferred tax asset. During fiscal 2021, the valuation allowance on the UK Basis Step-Up increased to $134.0 million due to remeasuring the deferred tax asset from UK tax rate of 19% to the new enacted tax rate of 25%. The new tax rate of 25% becomes effective on April 1, 2023, which is when the Company expects the deferred tax asset and related valuation allowance to unwind. 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. During year ended December 31, 2021, our excess tax basis over book basis in KWE increased due to book impairment losses that are not currently deductible for tax. As of December 31, 2021, Kennedy Wilson’s excess tax basis in KWE and the related valuation allowance is $71.7 million and $71.5 million, respectively. As of December 31, 2021, Kennedy Wilson had federal, California and other state net operating losses of $89.7 million, $108.2 million, and $14.3 million respectively. Of the $89.7 million of federal net operating loss carryforwards, $30.0 million was generated during 2017, and the remaining balance was generated after December 31, 2017. The post-2017 federal net operating losses do not expire. However, such losses are only eligible to offset 80% of taxable income in a given year. California net operating losses begin to expire in 2034. As of December 31, 2021, Kennedy Wilson had $205.7 million of foreign net operating loss carryforwards, which have no expiration date. The Company has foreign tax credit carryforwards of $78.0 million, of which $0.5 million begin to expire in 2023. The Company's valuation allowance on deferred tax assets increased by $52.7 million in 2021 and decreased by $4.8 million in 2020. The increase in the valuation allowance during 2021 principally relates to remeasuring the UK Basis Step Up deferred tax asset from 19% to 25%. The decrease in the 2020 valuation allowance principally relates to a decrease in the deferred tax asset related to the KWE partnership as a result of lower tax gains on the sale of real estate in 2020. 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. During 2021, the 2017 federal income tax examination was closed with no adjustments. In June 2021, the Company received a notification of a general tax inquiry being conducted by the Spanish tax authorities for several of its Spanish entities for tax years 2016 and 2017. As a result of the Spanish tax inquiry, management has reassessed the Company’s prior Spanish tax filing positions and the need to accrue additional taxes. Based on this reassessment, the Company believes that no additional Spanish tax accruals are required. Kennedy Wilson’s federal and state income tax returns remain open to examination for the years 2018 through 2020 and 2016 through 2020, 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 2017 through 2020. 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, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESCAPITAL COMMITMENTS—As of December 31, 2021 and 2020, the Company has unfunded capital commitments of $113.7 million and $97.4 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 $140.3 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 AND OTHER RE

STOCK COMPENSATION AND OTHER RELATED PLANS	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK COMPENSATION PLANS	STOCK COMPENSATION AND OTHER RELATED PLANS The Company maintains a shareholder-approved equity participation plan (the “Second Amended and Restated Plan”) under which shares of common stock are 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. Named Executive Officers ("NEO") participate in the Second Amended and Restated Plan. During the years ended December 31, 2021, 2020 and 2019, the compensation committee of the board of directors approved the total grant of 2.4 million shares of performance-based restricted stock units and 0.1 million shares of performance-based restricted shares of Company common stock, 2.0 million of performance-based restricted shares and 1.9 million shares of performance-based restricted stock units 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, 2021, 2020 and 2019 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, 2021, 2020 and 2019 were 967,536 shares, 571,983 shares, and 764,909 shares respectively, and were valued based on the Company’s closing stock price on the respective vesting dates. During the years ended December 31, 2021, 2020 and 2019, total payments for the employees’ tax obligations to the taxing authorities were $20.5 million, $11.6 million, and $16.4 million respectively. These figures are reflected as a financing activity on the accompanying consolidated statements of cash flows. During the years ended December 31, 2021, 2020 and 2019, Kennedy Wilson recognized $28.7 million, $32.3 million, and $30.2 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, 2021, 2020 and 2019: Shares 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 Granted 619,945 Vested (2,522,019) Forfeited (237,588) Nonvested at December 31, 2021 1,314,106 Non-NEO Deferred Compensation Program and Performance Allocation Sharing Program The Company maintains a deferred compensation program for certain employees of the Company (the “Deferred Compensation Program”). The named executive officers of the Company are not participants of the Deferred Compensation Program. The compensation committee of the Company’s board of directors approves an amount annually to be allocated to certain employees of the Company in the United States and in Europe. The amount allocated to each employee vests ratably over a three-year vesting period, subject to continued employment with the Company. Prior to 2022, half of the allocated amount was tied specifically to the performance and value of the Company’s common stock at the time of each vesting (“Bonus Units”). Beginning 2022, the entire amount allocated to each employee consisted of Bonus Units. Under the Deferred Compensation Program, at the time of each vesting, the employees receive an amount equal to either the dividend yield of the Company’s common stock or the actual amount of dividends paid on the Company common stock (in the case of Bonus Units) during the immediately preceding year on the amount that is subject to such vesting. During the years ended December 31, 2021, 2020 and 2019 the Company recognized $11.8 million, $6.4 million and $3.6 million, respectively, under the Deferred Cash Bonus Program.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2021
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, 2021, Kennedy Wilson repurchased and retired 2,824,665 shares for $62.7 million. During the year ended December 31, 2020, Kennedy Wilson repurchased and retired 2,826,644 shares for $45.8 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, 2021 Year Ended December 31, 2020 Declared Paid Declared Paid Preferred Stock $ 17.2 $ 17.2 $ 17.2 $ 13.6 Common Stock (1) 125.8 123.5 125.6 126.1 (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 12/31/2020 1/7/2021 $ 0.2200 $ — $ 0.2200 3/31/2021 4/8/2021 0.2200 — 0.2200 6/30/2021 7/8/2021 0.2200 — 0.2200 9/30/2021 10/7/2021 0.2200 — 0.2200 Totals $ 0.8800 $ — $ 0.8800 Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in each component of accumulated other comprehensive loss ("AOCI"), net of taxes: (Dollars in millions) Foreign Currency Translation Foreign Currency Derivative Contracts Interest Rate Swaps Total Accumulated Other Comprehensive Loss (1) Balance at December 31, 2020 $ (32.2) $ 2.6 $ (5.4) $ (35.0) Unrealized (losses) gains, arising during the period (58.9) 59.1 4.2 4.4 Taxes on unrealized (losses) gains, arising during the period 0.6 (2.9) (1.0) (3.3) Amounts reclassified out of AOCI during the period, gross 3.3 (0.2) 0.8 3.9 Amounts reclassified out of AOCI during the period, taxes (1.6) 0.1 (0.2) (1.7) Noncontrolling interest 0.8 — — 0.8 Balance at December 31, 2021 $ (88.0) $ 58.7 $ (1.6) $ (30.9) (1) Excludes $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, 2021. 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, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is computed by dividing net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share is computed after adjusting the numerator and denominator of the basic earnings per share computation for the effects of all potentially dilutive common shares. The dilutive effect of non-vested stock issued under share‑based compensation plans is computed using the treasury stock method. The dilutive effect of the cumulative preferred stock is computed using the if‑converted method. The following is a summary of the elements used in calculating basic and diluted income per share for the years ended December 31, 2021, 2020 and 2019: Year ended December 31, (Dollars in millions, except share amounts and per share data) 2021 2020 2019 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 313.2 $ 92.9 $ 224.1 Weighted-average shares outstanding for basic 138,552,058 139,741,411 139,729,573 Income per share - basic $ 2.26 $ 0.66 $ 1.60 Weighted average shares outstanding for diluted 140,132,435 140,347,365 141,501,323 Income per share - diluted $ 2.24 $ 0.66 $ 1.58 There was a total of 13,572,590, 13,236,896 and 13,133,785 during the years ended December 31, 2021, 2020 and 2019 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, 2021
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 and construction management fees); and (iii) performance allocations that it earns on its fee bearing capital. The Company typically owns a 5% to 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) the fees (including, without limitation, asset management fees and construction management fees); (ii) performance allocations that it earns on its fee bearing capital; and (iii) and its ownership interest in the underlying operations of its co-investments. The Company utilizes different platforms in the Co-investment Portfolio segment depending on the asset and risk return profiles. 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, 2021, 2020 and 2019 and total assets as of December 31, 2021 and 2020. Year Ended December 31, 2021 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 390.5 $ — $ — $ 390.5 Hotel 17.1 — — 17.1 Investment management fees — 35.3 — 35.3 Property services fees — — 2.1 2.1 Loans and other — 8.6 — 8.6 Total revenue 407.6 43.9 2.1 453.6 Income from unconsolidated investments Principal co-investments — 271.1 — 271.1 Performance allocations — 117.9 — 117.9 Income from unconsolidated investments — 389.0 — 389.0 Gain on sale of real estate, net 412.7 — — 412.7 Expenses Rental 132.7 — — 132.7 Hotel 12.7 — — 12.7 Compensation and related 60.4 40.4 33.1 133.9 Share-based compensation — — 28.7 28.7 Performance allocation compensation — 42.0 — 42.0 General and administrative 18.5 8.5 6.3 33.3 Depreciation and amortization 166.3 — — 166.3 Total expenses 390.6 90.9 68.1 549.6 Interest expense (119.1) — (73.3) (192.4) Loss on early extinguishment of debt (19.2) — (26.5) (45.7) Other loss (4.7) — (0.3) (5.0) Provision for income taxes (23.0) — (103.2) (126.2) Net income (loss) 263.7 342.0 (269.3) 336.4 Net income attributable to noncontrolling interests (6.0) — — (6.0) Preferred dividends and accretion of preferred stock issuance costs — — (17.2) (17.2) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 257.7 $ 342.0 $ (286.5) $ 313.2 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 fees — 22.5 — 22.5 Property services fees — — 10.6 10.6 Loans and other — 3.1 — 3.1 Total revenue 417.8 25.6 10.6 454.0 Income from unconsolidated investments Principal co-investments — 78.3 — 78.3 Performance allocations — 2.7 — 2.7 Income from unconsolidated investments — 81.0 — 81.0 Gain on sale of real estate, net 338.0 — — 338.0 Expenses Rental 135.7 — — 135.7 Hotel 13.8 — — 13.8 Compensation and related 59.7 20.8 31.4 111.9 Share-based compensation — — 32.3 32.3 Performance allocation compensation — 0.2 — 0.2 General and administrative 20.6 5.9 8.1 34.6 Depreciation and amortization 179.6 — — 179.6 Total expenses 409.4 26.9 71.8 508.1 Interest expense (132.4) — (69.5) (201.9) Loss on extinguishment of debt (9.3) — — (9.3) Other loss (1.4) — (0.9) (2.3) Provision for from income taxes (18.4) — (25.2) (43.6) Net income (loss) 184.9 79.7 (156.8) 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 $ 187.2 $ 79.7 $ (174.0) $ 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 Investment management fees — 24.9 — 24.9 Property services fees — 15.7 15.7 Loans and other — 0.3 — 0.3 Total revenue 527.9 25.2 15.7 568.8 Income from unconsolidated investments Principal co-investments — 143.4 — 143.4 Performance allocations — 36.3 — 36.3 Income from unconsolidated investments — 179.7 — 179.7 Gain on sale of real estate, net 434.4 — — 434.4 Expenses Rental 152.9 — — 152.9 Hotel 60.1 — — 60.1 Compensation and related 71.0 15.0 35.5 121.5 Share-based compensation — — 30.1 30.1 Performance allocation compensation — 0.1 — 0.1 General and administrative 26.3 5.6 10.5 42.4 Depreciation and amortization 187.6 — — 187.6 Total expenses 497.9 20.7 76.1 594.7 Interest expense (144.7) — (69.5) (214.2) Loss on extinguishment of debt (0.9) — — (0.9) Other loss (4.3) — (6.3) (10.6) Provision for income taxes (14.5) — (26.9) (41.4) Net income (loss) 300.0 184.2 (163.1) 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 $ 205.6 $ 184.2 $ (165.7) $ 224.1 December 31, (Dollars in millions) 2021 2020 Assets Consolidated $ 5,473.9 $ 5,562.4 Co-investment 2,077.9 1,396.4 Corporate 324.7 370.2 Total assets $ 7,876.5 $ 7,329.0 December 31, (Dollars in millions) 2021 2020 2019 Expenditures for long lived assets Investments $ (1,271.0) $ (264.2) $ (402.0) 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) 2021 2020 2019 United States $ 278.1 $ 277.3 $ 274.8 Europe 175.5 176.7 294.0 Total revenue $ 453.6 $ 454.0 $ 568.8

GUARANTOR AND NON-GUARANTOR FIN

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2021
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, 2021 and 2020, respectively; consolidating statements of income for the years ended December 31, 2021, 2020 and 2019, 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, 2021 or 2020 and for the years ended December 31, 2021, 2020 or 2019. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2021 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 116.4 $ 69.1 $ 339.3 $ — $ 524.8 Accounts receivable — — 16.0 20.1 — 36.1 Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net — — 1,729.1 3,330.7 — 5,059.8 Unconsolidated investments — 14.8 618.0 1,314.8 — 1,947.6 Investments in and advances to consolidated subsidiaries 1,821.9 3,859.2 2,488.1 — (8,169.2) — Other assets — 65.9 51.6 60.4 — 177.9 Loan purchases and originations — 6.1 61.5 62.7 — 130.3 Total assets $ 1,821.9 $ 4,062.4 $ 5,033.4 $ 5,128.0 $ (8,169.2) $ 7,876.5 Liabilities Accounts payable — 1.0 4.0 13.6 — 18.6 Accrued expenses and other liabilities 44.3 387.2 78.0 109.6 — 619.1 Mortgage debt — — 1,092.2 1,867.6 — 2,959.8 KW unsecured debt — 1,852.3 — — — 1,852.3 KWE unsecured bonds — — 622.8 — 622.8 Total liabilities 44.3 2,240.5 1,174.2 2,613.6 — 6,072.6 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,777.6 1,821.9 3,859.2 2,488.1 (8,169.2) 1,777.6 Noncontrolling interests — — — 26.3 — 26.3 Total equity 1,777.6 1,821.9 3,859.2 2,514.4 (8,169.2) 1,803.9 Total liabilities and equity $ 1,821.9 $ 4,062.4 $ 5,033.4 $ 5,128.0 $ (8,169.2) $ 7,876.5 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, net — — 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 — 0.9 69.3 128.9 — 199.1 Loan purchases and originations — 9.4 — 97.7 — 107.1 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 CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2021 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue $ — $ 0.3 $ 208.8 $ 244.5 $ — $ 453.6 Total income from unconsolidated investments — 3.2 99.0 286.8 — 389.0 Gain on sale of real estate, net — (1.7) 129.6 284.8 — 412.7 Total expenses 31.8 108.1 214.8 194.9 — 549.6 Income from consolidated subsidiaries 368.2 676.8 508.7 — (1,553.7) — Interest expense — (73.3) (43.3) (75.8) (192.4) Loss on early extinguishment of debt — (26.5) (0.6) (18.6) — (45.7) Other income (loss) — 0.7 (1.2) (4.5) (5.0) Income before provision from income taxes 336.4 471.4 686.2 522.3 (1,553.7) 462.6 Provision for income taxes — (103.2) (9.4) (13.6) — (126.2) Net income 336.4 368.2 676.8 508.7 (1,553.7) 336.4 Net income attributable to the noncontrolling interests — — — (6.0) — (6.0) Preferred dividends (17.2) — — — — (17.2) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 319.2 $ 368.2 $ 676.8 $ 502.7 $ (1,553.7) $ 313.2 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 Total revenues $ — $ — $ 218.6 $ 235.4 $ — $ 454.0 Income from unconsolidated investments — 0.6 (0.6) 81.0 — 81.0 Gain on sale of real estate, net — — 65.9 272.1 — 338.0 Total expenses 33.5 86.7 201.0 186.9 — 508.1 Income from consolidated subsidiaries 141.3 320.1 294.0 — (755.4) — Interest expense — (69.5) (48.6) (83.8) — (201.9) Loss on early extinguishment of debt — — (3.7) (5.6) — (9.3) Other income (loss) — 2.0 (3.8) (0.5) — (2.3) Income before provision for 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 (1) Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Total revenue $ — $ 0.8 $ 210.1 $ 357.9 $ — $ 568.8 Income from unconsolidated investments — 0.1 83.3 96.3 — 179.7 Gain on sale of real estate, net — — 8.2 426.2 — 434.4 Total expenses 31.8 95.9 181.8 285.2 — 594.7 Income from consolidated subsidiaries 352.8 547.7 479.8 — (1,380.3) — Interest expense — (69.5) (49.1) (95.6) — (214.2) Loss on early extinguishment of debt — — (0.1) (0.8) — (0.9) Other income (loss) 0.1 (3.4) (3.8) (3.5) — (10.6) 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

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Subsequent to December 31, 2021, the Company has drawn an additional $175.0 million on its revolving line of credit. The Company has $250.0 million still available to draw on its revolving line of credit. On February 23, 2022, the Company announced that it entered into an agreement for a $300 million preferred investment in Kennedy Wilson by affiliates of Fairfax Financial Holdings (collectively, "Fairfax"). Under the terms of the agreement, Fairfax is purchasing $300 million in perpetual preferred stock carrying a 4.75% annual dividend rate and is callable by Kennedy Wilson at any time. Additionally, Fairfax acquired 7-year warrants for approximately 13.0 million common shares with an initial strike price of $23.00 per share, based on Kennedy Wilson’s closing price on February 9, 2022 and representing a premium of 2% to the daily volume weighted average price per share of Kennedy Wilson’s common stock over the past 20 trading days. The Company expects to use the proceeds to pay off in full its line of credit balance and to fund its development pipeline.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
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, 2021 (Dollars in millions) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Balance at December 31, 2021 (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 $ 34.9 $ 11.3 $ 54.3 $ 65.6 $ (8.9) 39 years 1955/1981/1982 2013 Retail Mountain West 1.2 0.5 1.2 0.5 0.5 1.7 2.2 (0.3) 39 years 1981 2013 Retail Mountain West 3.8 2.6 5.6 1.2 2.6 6.8 9.4 (1.4) 39 years 1980/1983 2013 Retail Southern California 27.0 9.1 14.0 12.9 9.1 26.9 36.0 (4.2) 39 years 1985 2014 Commercial portfolio United Kingdom — 16.8 24.2 13.4 3.1 47.6 50.7 (9.3) 39 years Various 2014 Commercial portfolio United Kingdom 33.8 47.9 249.0 12.0 31.9 204.1 236.0 (46.9) 39 years Various 2014 Office Ireland 76.1 8.2 102.6 — 6.8 85.8 92.6 (16.1) 39 years 2003 2014 Retail Ireland 86.0 59.8 83.1 25.7 50.0 95.3 145.3 (14.1) 39 years 1966/2005 2014 Office Ireland 65.5 20.4 73.8 5.7 17.0 67.4 84.4 (14.1) 39 years 1980 2014 Office United Kingdom 194.3 85.3 232.0 26.1 82.9 224.6 307.5 (54.7) 39 years 2003 2014 Retail United Kingdom 71.9 6.2 109.5 7.2 5.1 96.6 101.7 (18.6) 39 years 2010 2014 Office Southern California 22.5 37.8 60.6 20.3 37.8 80.9 118.7 (15.1) 39 years 1982 2015 Office Southern California 28.8 11.6 36.5 4.8 11.6 41.3 52.9 (9.0) 39 years 1968 2015 Office Southern California 35.0 20.7 47.9 26.1 20.7 53.8 74.5 (10.2) 39 years 1982 2015 Commercial portfolio United Kingdom 185.5 121.7 205.5 11.4 98.3 164.7 263.0 (30.5) 39 years Various 2015 Office portfolio United Kingdom — 28.1 58.6 22.1 31.2 65.5 96.7 (8.8) 39 years Various 2015 Retail portfolio Spain — 0.2 0.5 — 0.2 0.4 0.6 (0.1) 39 years Various 2015 Retail Spain 40.4 27.1 46.2 13.3 30.2 64.8 95.0 (8.8) 39 years 1995 2015 Office portfolio Italy — 26.3 74.8 0.6 32.9 94.2 127.1 (14.1) 39 years Various 2015 Retail Mountain West 6.3 2.6 9.5 4.1 2.6 13.5 16.1 (1.5) 39 years 1961 2016 Office building Ireland — 2.0 11.9 0.2 2.0 12.5 14.5 (1.8) 39 years 2007 2016 Retail Mountain West 26.8 9.0 29.9 1.3 9.0 31.2 40.2 (4.2) 39 years 1984/2008 2016 Office portfolio United Kingdom 66.4 32.1 70.4 4.3 30.0 70.0 100.0 (10.3) 39 years Various 2016 Office Ireland 39.8 4.2 64.0 1.9 4.2 65.1 69.3 (9.2) 39 years 2009 2016 Retail Mountain West 3.6 1.2 5.4 0.5 1.2 5.9 7.1 (0.8) 39 years 1995/1996 2016 Retail Pacific Northwest 5.1 2.3 8.1 1.8 2.2 9.5 11.7 (1.0) 39 years 1956 2017 Office Pacific Northwest 77.0 30.6 106.0 3.3 30.6 109.2 139.8 (12.6) 39 years 1999/2001 2017 Office Ireland — 4.9 18.5 8.8 4.7 26.6 31.3 (2.2) 39 years 1841 2017 Office Ireland 32.3 11.0 — 52.8 10.6 52.8 63.4 — 39 years 1840/2000 2017 Office Southern California 17.8 27.4 6.8 16.9 27.4 23.7 51.1 (0.3) 39 years 1956 2018 Office Northern California 61.1 23.5 57.3 2.1 23.5 59.5 83.0 (3.2) 39 years 2000 2019 Office United Kingdom 132.1 71.2 177.9 — 69.3 173.4 242.7 (2.2) 39 years 2019 2021 Office United Kingdom — 25.4 54.8 — 25.3 54.8 80.1 (0.1) 39 years 2001/2007 2021 Multifamily 178-unit asset Northern California 31.4 12.3 18.5 10.4 12.3 29.9 42.2 (11.9) 39 years 1975 2012 366-unit asset Mountain West 51.5 9.1 36.3 12.5 9.1 48.8 57.9 (18.7) 39 years 2000 2012 208-unit asset Southern California 36.6 9.3 37.3 5.9 9.3 43.6 52.9 (10.6) 39 years 2004 2015 1,008-unit asset Northern California 175.0 62.3 152.5 22.7 62.3 175.1 237.4 (38.6) 39 years 1988 2015 460-unit asset Southern California 46.7 13.2 53.0 6.2 13.2 59.2 72.4 (12.3) 39 years 1988 2015 204-unit asset Mountain West 14.3 2.0 17.6 3.5 2.0 21.1 23.1 (4.2) 39 years 1999 2016 168-unit asset Mountain West 10.9 1.8 13.1 3.1 1.8 16.1 17.9 (3.4) 39 years 1992 2016 430-unit asset Pacific Northwest 62.2 12.8 67.4 4.6 12.8 71.9 84.7 (11.5) 39 years 2006 2016 386-unit asset Southern California 66.0 — 81.4 8.8 — 90.3 90.3 (14.7) 39 years 2002 2016 Land Southern California — 0.6 — — 7.1 — 7.1 — 39 years N/A 2018 300-unit asset Mountain West 39.0 4.8 29.2 5.6 4.8 34.8 39.6 (5.0) 39 years 1995 2017 210-unit asset Pacific Northwest 29.0 11.0 46.7 0.9 11.0 47.7 58.7 (5.6) 39 years 2007 2017 200-unit asset Mountain West 20.7 1.4 25.9 0.9 1.4 26.9 28.3 (3.2) 39 years 2012 2017 Land Mountain West — 0.2 — — 7.4 — 7.4 — 39 years N/A 2018 264-unit asset Pacific Northwest 24.7 6.4 44.9 4.7 6.4 49.6 56.0 (6.4) 39 years 1997 2017 343-unit asset Pacific Northwest 84.0 26.8 107.4 — 26.8 108.0 134.8 (11.5) 39 years 2016 2017 179-unit asset Pacific Northwest 33.1 11.9 47.4 1.5 11.9 49.0 60.9 (5.3) 39 years 2013 2017 88-unit asset Mountain West 8.6 2.6 10.4 1.5 2.6 11.9 14.5 (1.6) 39 years 1988 2018 492-unit asset Mountain West 59.1 15.8 63.2 6.4 15.9 69.6 85.5 (8.5) 39 years 1985 2018 66-unit asset Mountain West 8.0 0.8 — — 0.7 9.2 9.9 (0.3) 39 years 2021 2018 Land Mountain West 3.0 2.1 — — 16.5 — 16.5 — 39 years N/A 2018 293-unit asset Mountain West 19.9 7.2 28.8 0.9 7.2 29.7 36.9 (2.8) 39 years 1995 2018 188-unit asset Mountain West 13.5 4.9 19.7 6.5 4.9 26.7 31.6 (3.4) 39 years 1985 2018 120-unit asset Mountain West 32.3 5.7 — 0.4 1.9 38.0 39.9 (1.2) 39 years 2021 2018 277-unit asset Mountain West 62.2 4.0 — 6.6 2.7 55.0 57.7 (0.6) 39 years 2021 2019 10-unit asset Mountain West — — — — — 2.3 2.3 (0.1) 39 years 2021 2019 360-unit asset Mountain West 52.6 16.4 65.7 0.5 16.4 66.2 82.6 (3.5) 39 years 2015 2019 260-unit asset Mountain West 39.7 13.4 53.6 1.4 13.4 55.1 68.5 (1.7) 39 years 2014 2020 280-unit asset Mountain West 39.6 13.3 53.2 — 13.3 53.2 66.5 (0.9) 39 years 2019 2021 Land Mountain West — — — — 0.2 — 0.2 — 39 years N/A 2021 344-unit asset Mountain West 39.2 13.0 52.1 0.2 13.0 52.3 65.3 (0.7) 39 years 1985 2021 Land Mountain West — 4.6 — — 11.4 — 11.4 — 39 years N/A 2021 240-unit asset Mountain West 40.2 11.1 44.3 0.7 11.1 44.9 56.0 (0.6) 39 years 2020 2021 160-unit asset Mountain West 13.8 4.5 17.9 — 4.5 18.0 22.5 (0.2) 39 years 1990/1998 2021 332-unit asset Mountain West 76.2 26.7 106.9 — 26.7 106.9 133.6 (0.7) 39 years 2002 2021 383-unit asset Pacific Northwest 115.0 38.3 153.0 — 38.3 153.1 191.4 (1.0) 39 years 2002/2008 2021 164-unit asset Pacific Northwest 43.0 14.8 59.2 — 14.8 59.1 73.9 (0.4) 39 years 2020 2021 528-unit asset Mountain West 102.0 31.1 124.4 — 31.1 124.4 155.5 — 39 years 1989/1990 2021 Land Mountain West — 8.0 — — 8.0 — 8.0 — 39 years N/A 2021 Hotel Hotel Ireland 82.0 54.0 114.3 35.0 47.3 137.6 184.9 (36.1) 39 years 1824/2005 2014 Development Retail Spain — — 34.7 13.7 — 47.8 47.8 — N/A N/A 2015 Office Ireland 27.5 0.5 3.4 43.4 0.5 53.3 53.8 — N/A Various 2015 Retail Spain — — 13.9 — — 14.1 14.1 — N/A N/A 2017 Land United Kingdom 4.2 — 0.1 4.0 0.5 4.5 — N/A N/A 2018 Office Ireland — 1.3 0.1 0.1 1.2 0.1 1.3 — N/A N/A 2020 2700 acres Hawaii — 31.7 3.8 0.7 28.1 4.3 32.4 (2.2) N/A 1912 2010 3 Lots Hawaii — 16.5 — — 16.5 — 16.5 — N/A N/A 2020 Grand Total $ 2,977.6 $ 1,321.3 $ 3,865.8 $ 545.6 $ 1,277.6 $ 4,289.7 $ 5,567.3 $ (564.0) (1) The tax basis of all the properties in aggregate totaled $4,720.5 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, 2021, 2020 and 2019 were as follows: For the year ended December 31, (Dollars in millions) 2021 2020 2019 Balance at the beginning of period $ 5,207.7 $ 5,430.5 $ 5,981.7 Additions during the period: Other acquisitions 137.3 183.0 176.2 Improvements 1,110.4 108.4 270.0 Foreign currency (91.8) 129.9 26.7 Deductions during the period: Cost of real estate sold (796.3) (644.1) (1,024.1) Balance at close of period $ 5,567.3 $ 5,207.7 $ 5,430.5 Changes in accumulated depreciation for the years ended December 31, 2021, 2020 and 2019 were as follows: For the year ended December 31, (Dollars in millions) 2021 2020 2019 Balance at the beginning of period $ 551.8 $ 466.8 $ 406.5 Additions during the period: Depreciation expense 30.9 121.5 110.2 Deductions during the period: Dispositions (11.1) (54.5) (49.0) Foreign currency (7.6) 18.0 (0.9) Balance at close of period $ 564.0 $ 551.8 $ 466.8 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, 2021
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 consolidation 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. Statement of Income Presentation As the Co-Investment business has grown, the Company is updating the presentation of related items in the statements of income for all periods presented as this presentation reflects the prominence of this core part of our business and more closely represents how management evaluates results during an accounting period. The income from unconsolidated investments caption has been expanded to show principal co-investments and performance allocations. Principal co-investments consists of unrealized and realized gains on the Company's Co-Investments including any fair value adjustments and the Company’s share of net income and losses from Co-Investments. Performance allocations relate to special allocations to co-investments the Company manages based on the cumulative performance of the fund or investment and are subject to preferred return thresholds of its limited partners. These captions have been moved above expenses as the Co-Investments business is a significant part of the Company’s business. As the Company has compensation expense and general and administrative expenses relating to the management of this business, presenting these amounts before Expenses also provides a better understanding of the nature of those expenses. Based on the foregoing, the Company has concluded this change in presentation is justified by the circumstances thereby supporting presentation in a different position and in a different manner from its historical presentation. The Company has reported significant gains on sale of real estate, net in each period presented. Previously, gains on sale of real estate were presented after expenses. These gains contribute to the Company’s compensation and related expenses and accordingly presentation of this significant, recurring component that is directly correlated to expenses should, in management’s view, precede those expenses on the statements of income. Furthermore, the Company accounts for gains on sale of real estate under ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets and we have determined that the updated presentation complies with that standard.
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, leasing and commission fees, loan interest income 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 allocations, 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. 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 from its auction sales and marketing business. 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. 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	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 elected the fair value option for 47 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. Additionally, 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. Performance allocations 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 allocation 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 allocation to reflect either (a) positive performance resulting in an increase in the performance allocation 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 income from unconsolidated investments, resulting in a negative adjustment to performance allocations to the general partner or asset manager. As of December 31, 2021, the Company has $169.7 million of accrued performance allocations recorded to unconsolidated investments that are subject to future adjustments based on the underlying performance of investments. During the year ended December 31, 2021, the Company collected $9.6 million of previously accrued performance allocations. The Company has concluded that performance allocations to the Company, based on cumulative performance to-date, represent carried interests. For equity method investments, these allocations 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 allocations are included in the determination of fair value under ASC 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 Intangibles - Goodwill and Other
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, 2021, 2020, and 2019 we have $24.2 million, $101.7 million, and $54.5 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 Property, Plant and Equipment
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, Compensation - Stock Compensation. 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, 2021. The Company has received some requests for lease modifications and has granted some deferrals but the amount 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. 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 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 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, 2021 the Company has $130.3 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)
RECLASSIFICATIONS	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, 2021
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, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 Land $ 1,277.6 $ 1,225.1 Buildings 3,744.1 3,436.0 Building improvements 545.6 546.6 Acquired in-place lease values 330.6 327.8 5,897.9 5,535.5 Less accumulated depreciation and amortization (838.1) (815.0) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,059.8 $ 4,720.5 (Dollars in millions) Gain on sale of real estate Year ended December 31, Description Consolidated (1) NCI Net of NCI 2021 Primarily due to the sale of a 49% equity interest in nine multifamily properties in Western United States that were previously wholly-owned and controlled by the Company and the sale of a wholly-owned office property in the United Kingdom $ 433.6 $ — $ 433.6 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 (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, 2021, 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. Ten multifamily properties $ 166.1 $ 610.9 $ 2.3 $ 469.1 $ 310.2 United Kingdom Two commercial properties 95.9 231.3 22.3 — 349.5 $ 262.0 $ 842.2 $ 24.6 $ 469.1 $ 659.7 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. 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 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, 2021: (Dollars in millions) Minimum Rental Revenues (1) 2022 $ 154.7 2023 135.4 2024 111.8 2025 95.7 2026 78.3 Thereafter 239.0 Total $ 814.9 (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, 2021
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, 2021: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 592.1 $ 81.0 $ 131.0 $ 189.2 $ 179.6 $ 1,172.9 Ireland 389.5 141.1 — 3.1 — 533.7 United Kingdom — 169.3 — 42.9 28.8 241.0 Total $ 981.6 $ 391.4 $ 131.0 $ 235.2 $ 208.4 $ 1,947.6 The following table details the 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 (Dollars in millions) December 31, 2021 Cash $ 10.6 Accounts receivable 2.4 Real estate 943.5 Other 3.3 Total assets $ 959.8 Liabilities Accounts payable and accrued expenses $ 4.4 Debt 458.9 Total liabilities 463.3 Equity Kennedy Wilson - investment in unconsolidated investments 268.9 Partner 227.6 Total equity 496.5 Total liabilities and equity $ 959.8 (Dollars in millions) Year Ended December 31, 2021 Rental income $ 31.6 Unrealized fair value gains 145.6 Rental expenses (10.2) Interest expense (8.2) Other expense (9.0) Net income 149.8 Income attributable to partner (57.7) Income from unconsolidated investments $ 92.1
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, 2021: Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 29.7 $ 22.5 $ 9.4 $ 9.6 $ 24.1 $ 5.3 $ — $ 22.1 $ 63.2 $ 59.5 Ireland 5.7 23.2 10.0 — — — — — 15.7 23.2 United Kingdom — — 3.3 — — — — 0.1 3.3 0.1 Total $ 35.4 $ 45.7 $ 22.7 $ 9.6 $ 24.1 $ 5.3 $ — $ 22.2 $ 82.2 $ 82.8
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, 2021, 2020 and 2019: Year Ended December 31, (Dollars in millions) 2021 2020 2019 Income from unconsolidated investments - operating performance $ 60.7 $ 43.4 $ 35.5 Income from unconsolidated investments - realized gains cost basis investments — — 53.5 Income from unconsolidated investments - unrealized and realized fair value gains 213.5 47.2 64.7 Income from unconsolidated investments - realized losses and impairment (3.1) (12.3) (10.3) Principal co-investments 271.1 78.3 143.4 Income from unconsolidated investments - performance allocation 117.9 2.7 36.3 $ 389.0 $ 81.0 $ 179.7

FAIR VALUE MEASUREMENTS AND T_2

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 1,794.8 $ 1,794.8 Net currency derivative contracts — 8.5 — 8.5 Total $ — $ 8.5 $ 1,794.8 $ 1,803.3 The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 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
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, 2021 December 31, 2020 FV Option $ 1,568.5 $ 999.2 Funds 226.3 137.3 Total $ 1,794.8 $ 1,136.5
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) 2021 2020 2019 Beginning balance $ 1,136.5 $ 1,099.3 $ 662.2 Unrealized and realized gains, including performance allocations 390.0 109.8 161.1 Unrealized and realized losses (5.0) (13.5) (26.9) Contributions 273.8 109.2 191.2 Distributions (144.3) (189.7) (104.1) Foreign Exchange (28.4) 24.5 (3.4) Other 172.2 (3.1) 219.2 Ending Balance $ 1,794.8 $ 1,136.5 $ 1,099.3
Schedule of the Funds and Fair Value Option Investments, Significant Inputs	The table below describes the range of inputs used as of December 31, 2021 for real estate assets: Estimated Rates Used For Terminal Capitalization Rates Discount Rates Multifamily 3.70% — 5.25% 5.35% — 7.40% Office 4.00% — 7.75% 5.10% — 9.25% Industrial 3.50% —7.40% 4.40% — 8.40% Retail 5.00% — 7.00% 7.50% — 9.00% Hotel 6.00% 8.25% Residential N/A N/A
Schedule of Currency Forward Contracts	The table below details the currency forward contracts and currency option contracts Kennedy Wilson had as of December 31, 2021: (Dollars in millions) December 31, 2021 Year Ended December 31, 2021 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized Gains Realized Gains Interest Expense Cash Paid Outstanding EUR USD € 232.5 $ 9.4 $ 5.7 $ 0.5 $ 15.0 $ 3.9 $ — EUR (1) GBP € 40.0 — — — — — — EUR (1)(2) GBP € — — — 40.3 — — — GBP USD £ 535.0 15.1 10.3 10.2 — 4.5 — Total Outstanding 24.5 16.0 51.0 15.0 8.4 — Settled EUR GBP — — 6.7 — — (27.9) GBP USD — — 1.3 — — (2.2) Total Settled — — 8.0 — — (30.1) Total $ 24.5 $ 16.0 $ 59.0 (3) $ 15.0 $ 8.4 $ (30.1) (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 expense of $2.9 million.

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: December 31, (Dollars in millions) 2021 2020 Straight line rent receivable $ 44.3 $ 51.6 Hedge assets 24.5 12.0 Goodwill 23.9 23.9 Furniture and equipment net of accumulated depreciation of $27.4 and $27.2 at December 31, 2021 and December 31, 2020, respectively 17.6 22.3 Other, net of accumulated amortization of $— and $2.1 at December 31, 2021 and 2020, respectively 15.3 19.0 Prepaid expenses 13.3 11.8 Deferred taxes, net 12.6 22.1 Right of use asset, net 10.0 11.2 Above-market leases, net of accumulated amortization of $60.4 and $58.3 at December 31, 2021 and 2020, respectively 8.4 15.0 Leasing commissions, net of accumulated amortization of $9.7 and $7.4 at December 31, 2021 and 2020, respectively 8.0 10.2 Other Assets $ 177.9 $ 199.1
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 2022 $ 1.5 2023 0.8 2024 0.5 2025 0.3 2026 0.2 Thereafter 31.9 Total undiscounted rental payments 35.2 Less imputed interest (25.2) Total lease liabilities $ 10.0

MORTGAGE DEBT (Tables)

MORTGAGE DEBT (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 and 2020: (Dollars in millions) Carrying amount of mortgage debt as of December 31, (1) Mortgage Debt by Product Type Region 2021 2020 Multifamily (1) Western U.S. $ 1,493.1 $ 1,345.5 Commercial (1) United Kingdom 683.8 429.6 Commercial Western U.S. 351.0 375.2 Commercial (1) Ireland 327.3 320.5 Hotel Ireland 82.0 88.0 Commercial Spain 40.4 43.6 Mortgage debt (excluding loan fees) (1) 2,977.6 2,602.4 Unamortized loan fees (17.8) (12.6) Total Mortgage Debt $ 2,959.8 $ 2,589.8 (1) The mortgage debt payable balances include unamortized debt premiums. Debt premiums 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, 2021 and 2020 was $2.5 million and $4.5 million, respectively.
Schedule of Maturities of Mortgage Loans and Notes Payable	The aggregate maturities of mortgage loans subsequent to December 31, 2021 are as follows: (Dollars in millions) Aggregate Maturities 2022 (1) $ 17.4 2023 374.8 2024 513.9 2025 482.4 2026 478.2 Thereafter 1,108.4 2,975.1 Unamortized debt premium 2.5 Unamortized loan fees (17.8) Total Mortgage Debt $ 2,959.8 (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, 2021
Debt Disclosure [Abstract]
Schedule of Debt KW Unsecured Debt	The following table details KW unsecured debt as of December 31, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 Credit Facility $ 75.0 $ 200.0 Senior Notes (1) 1,803.9 1,146.9 KW Unsecured Debt 1,878.9 1,346.9 Unamortized loan fees (26.6) (14.7) Total KW Unsecured Debt $ 1,852.3 $ 1,332.2 (1) The senior notes balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized debt premium as of December 31, 2021 was $3.9 million and a debt discount of $3.1 million as of December 31, 2020. The following table details the KWE unsecured bonds as of December 31, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 KWE Bonds $ — $ 504.7 KWE Euro Medium Term Note Programme 624.1 669.7 KWE Unsecured Bonds (excluding loan fees) (1) 624.1 1,174.4 Unamortized loan fees (1.3) (1.9) Total KWE Unsecured Bonds $ 622.8 $ 1,172.5 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt discounts represent the difference between the fair value of debt at issuance and the principal value of debt 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 discount as of December 31, 2021 and 2020 was $2.1 million and $2.8 million, respectively.

KWE UNSECURED BONDS (Tables)

KWE UNSECURED BONDS (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of KWE Bonds	The following table details KW unsecured debt as of December 31, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 Credit Facility $ 75.0 $ 200.0 Senior Notes (1) 1,803.9 1,146.9 KW Unsecured Debt 1,878.9 1,346.9 Unamortized loan fees (26.6) (14.7) Total KW Unsecured Debt $ 1,852.3 $ 1,332.2 (1) The senior notes balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized debt premium as of December 31, 2021 was $3.9 million and a debt discount of $3.1 million as of December 31, 2020. The following table details the KWE unsecured bonds as of December 31, 2021 and 2020: December 31, (Dollars in millions) 2021 2020 KWE Bonds $ — $ 504.7 KWE Euro Medium Term Note Programme 624.1 669.7 KWE Unsecured Bonds (excluding loan fees) (1) 624.1 1,174.4 Unamortized loan fees (1.3) (1.9) Total KWE Unsecured Bonds $ 622.8 $ 1,172.5 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt discounts represent the difference between the fair value of debt at issuance and the principal value of debt 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 discount as of December 31, 2021 and 2020 was $2.1 million and $2.8 million, respectively.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The table below represents a geographical breakdown of book income (loss) before the provision for income taxes: Year ended December 31, (Dollars in millions) 2021 2020 2019 Domestic $ 447.6 $ (37.0) $ 249.5 Foreign 14.9 188.4 113.0 Total $ 462.5 $ 151.4 $ 362.5
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) 2021 2020 2019 Federal Current $ — $ — $ — Deferred 94.4 23.3 31.2 94.4 23.3 31.2 State Current (0.2) 1.5 0.3 Deferred 9.1 0.4 (4.6) 8.9 1.9 (4.3) Foreign Current 14.2 14.9 14.4 Deferred 8.7 3.5 0.1 22.9 18.4 14.5 Total $ 126.2 $ 43.6 $ 41.4
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) 2021 2020 2019 Tax computed at the statutory rate $ 97.1 $ 31.8 $ 76.1 Tax deduction in excess of book compensation from restricted stock vesting — 0.1 0.3 Domestic permanent differences, primarily disallowed executive compensation 8.1 7.2 6.1 Foreign permanent differences, primarily non-deductible depreciation, amortization and interest expenses in the United Kingdom 8.2 2.0 1.3 Effect of foreign operations, net of foreign tax credit 7.4 (3.7) (16.8) Noncontrolling interests (2.6) (0.9) (22.2) State income taxes, net of federal benefit 7.0 2.9 — Other 1.0 4.2 (3.4) Provision for income taxes $ 126.2 $ 43.6 $ 41.4
Schedule of Deferred Tax Assets and Liabilities	Cumulative tax effects of temporary differences are shown below at December 31, 2021 and 2020: Year ended December 31, (Dollars in millions) 2021 2020 Deferred tax assets: Foreign currency translation $ 2.7 $ 3.7 Net operating loss carryforward and credits 172.4 137.1 Investment basis difference 96.8 91.2 Stock option expense 2.2 3.0 Hedging transactions 7.8 13.4 Lease liability 0.1 0.1 Accrued reserves 11.1 0.6 Total deferred tax assets 293.1 249.1 Valuation allowance (257.1) (204.4) Net deferred tax assets 36.0 44.7 Deferred tax liabilities: Investment basis and reserve differences 285.4 159.5 Depreciation and amortization 3.9 20.0 Right of use asset 0.1 0.1 Prepaid expenses and other 2.2 2.8 Capitalized interest 1.3 1.3 Total deferred tax liabilities 292.9 183.7 Deferred tax liability, net $ (256.9) $ (139.0)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2021
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 2022 $ 1.5 2023 0.8 2024 0.5 2025 0.3 2026 0.2 Thereafter 31.9 Total undiscounted rental payments 35.2 Less imputed interest (25.2) Total lease liabilities $ 10.0

STOCK COMPENSATION AND OTHER _2

STOCK COMPENSATION AND OTHER RELATED PLANS (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021, 2020 and 2019: Shares 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 Granted 619,945 Vested (2,522,019) Forfeited (237,588) Nonvested at December 31, 2021 1,314,106

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 Year Ended December 31, 2020 Declared Paid Declared Paid Preferred Stock $ 17.2 $ 17.2 $ 17.2 $ 13.6 Common Stock (1) 125.8 123.5 125.6 126.1 (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 12/31/2020 1/7/2021 $ 0.2200 $ — $ 0.2200 3/31/2021 4/8/2021 0.2200 — 0.2200 6/30/2021 7/8/2021 0.2200 — 0.2200 9/30/2021 10/7/2021 0.2200 — 0.2200 Totals $ 0.8800 $ — $ 0.8800
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in each component of accumulated other comprehensive loss ("AOCI"), net of taxes: (Dollars in millions) Foreign Currency Translation Foreign Currency Derivative Contracts Interest Rate Swaps Total Accumulated Other Comprehensive Loss (1) Balance at December 31, 2020 $ (32.2) $ 2.6 $ (5.4) $ (35.0) Unrealized (losses) gains, arising during the period (58.9) 59.1 4.2 4.4 Taxes on unrealized (losses) gains, arising during the period 0.6 (2.9) (1.0) (3.3) Amounts reclassified out of AOCI during the period, gross 3.3 (0.2) 0.8 3.9 Amounts reclassified out of AOCI during the period, taxes (1.6) 0.1 (0.2) (1.7) Noncontrolling interest 0.8 — — 0.8 Balance at December 31, 2021 $ (88.0) $ 58.7 $ (1.6) $ (30.9) (1) Excludes $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, 2021
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	The following is a summary of the elements used in calculating basic and diluted income per share for the years ended December 31, 2021, 2020 and 2019: Year ended December 31, (Dollars in millions, except share amounts and per share data) 2021 2020 2019 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 313.2 $ 92.9 $ 224.1 Weighted-average shares outstanding for basic 138,552,058 139,741,411 139,729,573 Income per share - basic $ 2.26 $ 0.66 $ 1.60 Weighted average shares outstanding for diluted 140,132,435 140,347,365 141,501,323 Income per share - diluted $ 2.24 $ 0.66 $ 1.58

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021, 2020 and 2019 and total assets as of December 31, 2021 and 2020. Year Ended December 31, 2021 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 390.5 $ — $ — $ 390.5 Hotel 17.1 — — 17.1 Investment management fees — 35.3 — 35.3 Property services fees — — 2.1 2.1 Loans and other — 8.6 — 8.6 Total revenue 407.6 43.9 2.1 453.6 Income from unconsolidated investments Principal co-investments — 271.1 — 271.1 Performance allocations — 117.9 — 117.9 Income from unconsolidated investments — 389.0 — 389.0 Gain on sale of real estate, net 412.7 — — 412.7 Expenses Rental 132.7 — — 132.7 Hotel 12.7 — — 12.7 Compensation and related 60.4 40.4 33.1 133.9 Share-based compensation — — 28.7 28.7 Performance allocation compensation — 42.0 — 42.0 General and administrative 18.5 8.5 6.3 33.3 Depreciation and amortization 166.3 — — 166.3 Total expenses 390.6 90.9 68.1 549.6 Interest expense (119.1) — (73.3) (192.4) Loss on early extinguishment of debt (19.2) — (26.5) (45.7) Other loss (4.7) — (0.3) (5.0) Provision for income taxes (23.0) — (103.2) (126.2) Net income (loss) 263.7 342.0 (269.3) 336.4 Net income attributable to noncontrolling interests (6.0) — — (6.0) Preferred dividends and accretion of preferred stock issuance costs — — (17.2) (17.2) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 257.7 $ 342.0 $ (286.5) $ 313.2 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 fees — 22.5 — 22.5 Property services fees — — 10.6 10.6 Loans and other — 3.1 — 3.1 Total revenue 417.8 25.6 10.6 454.0 Income from unconsolidated investments Principal co-investments — 78.3 — 78.3 Performance allocations — 2.7 — 2.7 Income from unconsolidated investments — 81.0 — 81.0 Gain on sale of real estate, net 338.0 — — 338.0 Expenses Rental 135.7 — — 135.7 Hotel 13.8 — — 13.8 Compensation and related 59.7 20.8 31.4 111.9 Share-based compensation — — 32.3 32.3 Performance allocation compensation — 0.2 — 0.2 General and administrative 20.6 5.9 8.1 34.6 Depreciation and amortization 179.6 — — 179.6 Total expenses 409.4 26.9 71.8 508.1 Interest expense (132.4) — (69.5) (201.9) Loss on extinguishment of debt (9.3) — — (9.3) Other loss (1.4) — (0.9) (2.3) Provision for from income taxes (18.4) — (25.2) (43.6) Net income (loss) 184.9 79.7 (156.8) 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 $ 187.2 $ 79.7 $ (174.0) $ 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 Investment management fees — 24.9 — 24.9 Property services fees — 15.7 15.7 Loans and other — 0.3 — 0.3 Total revenue 527.9 25.2 15.7 568.8 Income from unconsolidated investments Principal co-investments — 143.4 — 143.4 Performance allocations — 36.3 — 36.3 Income from unconsolidated investments — 179.7 — 179.7 Gain on sale of real estate, net 434.4 — — 434.4 Expenses Rental 152.9 — — 152.9 Hotel 60.1 — — 60.1 Compensation and related 71.0 15.0 35.5 121.5 Share-based compensation — — 30.1 30.1 Performance allocation compensation — 0.1 — 0.1 General and administrative 26.3 5.6 10.5 42.4 Depreciation and amortization 187.6 — — 187.6 Total expenses 497.9 20.7 76.1 594.7 Interest expense (144.7) — (69.5) (214.2) Loss on extinguishment of debt (0.9) — — (0.9) Other loss (4.3) — (6.3) (10.6) Provision for income taxes (14.5) — (26.9) (41.4) Net income (loss) 300.0 184.2 (163.1) 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 $ 205.6 $ 184.2 $ (165.7) $ 224.1 December 31, (Dollars in millions) 2021 2020 Assets Consolidated $ 5,473.9 $ 5,562.4 Co-investment 2,077.9 1,396.4 Corporate 324.7 370.2 Total assets $ 7,876.5 $ 7,329.0 December 31, (Dollars in millions) 2021 2020 2019 Expenditures for long lived assets Investments $ (1,271.0) $ (264.2) $ (402.0)
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) 2021 2020 2019 United States $ 278.1 $ 277.3 $ 274.8 Europe 175.5 176.7 294.0 Total revenue $ 453.6 $ 454.0 $ 568.8

GUARANTOR AND NON-GUARANTOR F_2

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
Guarantor and Nonguarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2021 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 116.4 $ 69.1 $ 339.3 $ — $ 524.8 Accounts receivable — — 16.0 20.1 — 36.1 Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net — — 1,729.1 3,330.7 — 5,059.8 Unconsolidated investments — 14.8 618.0 1,314.8 — 1,947.6 Investments in and advances to consolidated subsidiaries 1,821.9 3,859.2 2,488.1 — (8,169.2) — Other assets — 65.9 51.6 60.4 — 177.9 Loan purchases and originations — 6.1 61.5 62.7 — 130.3 Total assets $ 1,821.9 $ 4,062.4 $ 5,033.4 $ 5,128.0 $ (8,169.2) $ 7,876.5 Liabilities Accounts payable — 1.0 4.0 13.6 — 18.6 Accrued expenses and other liabilities 44.3 387.2 78.0 109.6 — 619.1 Mortgage debt — — 1,092.2 1,867.6 — 2,959.8 KW unsecured debt — 1,852.3 — — — 1,852.3 KWE unsecured bonds — — 622.8 — 622.8 Total liabilities 44.3 2,240.5 1,174.2 2,613.6 — 6,072.6 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,777.6 1,821.9 3,859.2 2,488.1 (8,169.2) 1,777.6 Noncontrolling interests — — — 26.3 — 26.3 Total equity 1,777.6 1,821.9 3,859.2 2,514.4 (8,169.2) 1,803.9 Total liabilities and equity $ 1,821.9 $ 4,062.4 $ 5,033.4 $ 5,128.0 $ (8,169.2) $ 7,876.5 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, net — — 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 — 0.9 69.3 128.9 — 199.1 Loan purchases and originations — 9.4 — 97.7 — 107.1 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
Consolidating Statement of Operations	CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2021 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue $ — $ 0.3 $ 208.8 $ 244.5 $ — $ 453.6 Total income from unconsolidated investments — 3.2 99.0 286.8 — 389.0 Gain on sale of real estate, net — (1.7) 129.6 284.8 — 412.7 Total expenses 31.8 108.1 214.8 194.9 — 549.6 Income from consolidated subsidiaries 368.2 676.8 508.7 — (1,553.7) — Interest expense — (73.3) (43.3) (75.8) (192.4) Loss on early extinguishment of debt — (26.5) (0.6) (18.6) — (45.7) Other income (loss) — 0.7 (1.2) (4.5) (5.0) Income before provision from income taxes 336.4 471.4 686.2 522.3 (1,553.7) 462.6 Provision for income taxes — (103.2) (9.4) (13.6) — (126.2) Net income 336.4 368.2 676.8 508.7 (1,553.7) 336.4 Net income attributable to the noncontrolling interests — — — (6.0) — (6.0) Preferred dividends (17.2) — — — — (17.2) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 319.2 $ 368.2 $ 676.8 $ 502.7 $ (1,553.7) $ 313.2 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 Total revenues $ — $ — $ 218.6 $ 235.4 $ — $ 454.0 Income from unconsolidated investments — 0.6 (0.6) 81.0 — 81.0 Gain on sale of real estate, net — — 65.9 272.1 — 338.0 Total expenses 33.5 86.7 201.0 186.9 — 508.1 Income from consolidated subsidiaries 141.3 320.1 294.0 — (755.4) — Interest expense — (69.5) (48.6) (83.8) — (201.9) Loss on early extinguishment of debt — — (3.7) (5.6) — (9.3) Other income (loss) — 2.0 (3.8) (0.5) — (2.3) Income before provision for 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 (1) Non-guarantor Subsidiaries Elimination Consolidated Total Revenue Total revenue $ — $ 0.8 $ 210.1 $ 357.9 $ — $ 568.8 Income from unconsolidated investments — 0.1 83.3 96.3 — 179.7 Gain on sale of real estate, net — — 8.2 426.2 — 434.4 Total expenses 31.8 95.9 181.8 285.2 — 594.7 Income from consolidated subsidiaries 352.8 547.7 479.8 — (1,380.3) — Interest expense — (69.5) (49.1) (95.6) — (214.2) Loss on early extinguishment of debt — — (0.1) (0.8) — (0.9) Other income (loss) 0.1 (3.4) (3.8) (3.5) — (10.6) 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

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Unconsolidated Investments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)investment
Accounting Policies [Abstract]
Number of investments, fair value option | investment	47
Accrued performance fees	$ 169.7
Fees receivable	$ 9.6
Performance fees retained (as a percent)	35.00%

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
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, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Restricted cash	$ 24.2	$ 101.7	$ 54.5

BASIS OF PRESENTATION AND SUM_6

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Uncollectible lease income			$ 12.9	$ 13.5	$ 0
Income (loss) from unconsolidated investments	$ (389)	$ (81)	(389)	(81)	$ (179.7)
Operating lease, right-of-use asset	$ 10	$ 11.2	$ 10	11.2
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset						$ 13.6
COVID-19
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Uncollectible lease income				$ 0

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate [Abstract]
Land	$ 1,277.6	$ 1,225.1
Buildings	3,744.1	3,436
Building improvements	545.6	546.6
Acquired in-place lease values	330.6	327.8
Real estate investment, at cost	5,897.9	5,535.5
Less accumulated depreciation and amortization	(838.1)	(815)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	5,059.8	4,720.5
Buildings, Building Improvements and Acquired In-Place Lease Values
Real Estate Properties [Line Items]
Depreciation and amortization expense	$ 151.3	$ 165.7	$ 173.4
Building and Building Improvements | Maximum
Real Estate Properties [Line Items]
Estimated useful life (in years)	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, 2021USD ($)property	Dec. 31, 2020USD ($)property
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	$ 262	$ 13.4
Building	842.2	95.1
Acquired in place lease values	24.6	0.5
Investment debt	469.1	38.7
KWH Shareholders' Equity	$ 659.7	$ 147.8
Western U.S. | Multifamily
Business Acquisition [Line Items]
Number of properties acquired | property	10	1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	$ 166.1	$ 13.4
Building	610.9	53.6
Acquired in place lease values	2.3	0.5
Investment debt	469.1	38.7
KWH Shareholders' Equity	$ 310.2	$ 106.3
United Kingdom | Industrial
Business Acquisition [Line Items]
Number of properties acquired | property		1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land		$ 0
Building		40.2
Acquired in place lease values		0
Investment debt		0
KWH Shareholders' Equity		$ 40.2
United Kingdom | Commercial
Business Acquisition [Line Items]
Number of properties acquired | property	2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	$ 95.9
Building	231.3
Acquired in place lease values	22.3
Investment debt	0
KWH Shareholders' Equity	$ 349.5
Ireland | Commercial
Business Acquisition [Line Items]
Number of properties acquired | property		1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land		$ 0
Building		1.3
Acquired in place lease values		0
Investment debt		0
KWH Shareholders' Equity		$ 1.3

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, 2021USD ($)property	Dec. 31, 2020USD ($)assetproperty	Dec. 31, 2019USD ($)assetproperty
Real Estate [Line Items]
Impairment of Real Estate | $			$ 0
Consolidated | $	$ 433,600,000	$ 353,600,000	434,900,000
NCI | $	0	0	116,700,000
Net of NCI | $	$ 433,600,000	$ 353,600,000	$ 318,200,000
MF Portfolio Joint Venture
Real Estate [Line Items]
Equity interest sold, percentage	49.00%
Leases, Acquired-in-Place
Real Estate [Line Items]
Weighted-average lease term (in years)	6 years 10 months 24 days
United Kingdom
Real Estate [Line Items]
Number of real estate properties sold | property	2		5
Retail Site and Residential | United Kingdom And United States
Real Estate [Line Items]
Impairment of Real Estate | $	$ 20,900,000
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
Office | United Kingdom
Real Estate [Line Items]
Impairment of Real Estate | $		$ 15,600,000
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		1
Multifamily | Ireland
Real Estate [Line Items]
Number of real estate properties sold		2
Multifamily | United States
Real Estate [Line Items]
Number of real estate properties sold | property	9	1	1
Commercial | United Kingdom
Real Estate [Line Items]
Number of real estate properties sold | property			11
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) $ in Millions	Dec. 18, 2020USD ($)industrialAsset	Dec. 31, 2019USD ($)asset	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)asset	Jun. 30, 2019
Real Estate [Line Items]
Net proceeds from sale of consolidated real estate			$ 486.4	$ 827.8	$ 701
Equity method investment, ownership percentage (as a percent)			51.00%
Multifamily | Axa Joint Venture
Real Estate [Line Items]
Number of assets | asset		3			3
Number of units sold | asset		468			468
Kennedy Wilson Holdings, Inc. and AXS Investment Managers
Real Estate [Line Items]
Deconsolidation, gain (loss)		$ 105.4
GIC Joint Venture
Real Estate [Line Items]
Deconsolidation, gain (loss)	$ 332
Axa Joint Venture
Real Estate [Line Items]
Deconsolidation, gain (loss)		212.4		$ 212.4
Axa Joint Venture | Multifamily
Real Estate [Line Items]
Equity method investment, ownership percentage (as a percent)				80.00%
Axa Joint Venture | Kennedy Wilson Holdings, Inc. and AXS Investment Managers
Real Estate [Line Items]
Deconsolidation, gain (loss)		$ 317.8	$ 126.3	$ 317.8
MF Portfolio Joint Venture
Real Estate [Line Items]
Deconsolidation, gain (loss)			332
Net proceeds from sale of consolidated real estate			$ 166.4
Equity interest sold, percentage			49.00%
Equity method investment, ownership percentage (as a percent)			51.00%
Industrial JV | United Kingdom
Real Estate [Line Items]
Equity method investment, ownership percentage (as a percent)	20.00%
Industrial JV | Industrial JV Investment Managers
Real Estate [Line Items]
Equity method investment, ownership percentage (as a percent)	80.00%
Industrial JV | Industrial JV Investment Managers | Industrial | United Kingdom
Real Estate [Line Items]
Number of assets | industrialAsset	18
Capital Dock, Dublin, Ireland | AXA Investment Managers | Capital Dock, Dublin, Ireland
Real Estate [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent						50.00%

- Real Estate and In-Place Leas

- Real Estate and In-Place Lease Value - Future Minimum Lease To Be Received (Details) $ in Millions	Dec. 31, 2021USD ($)
Real Estate [Abstract]
2022	$ 154.7
2023	135.4
2024	111.8
2025	95.7
2026	78.3
Thereafter	239
Total	$ 814.9

UNCONSOLIDATED INVESTMENTS - Na

UNCONSOLIDATED INVESTMENTS - Narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2021USD ($)fund	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)propertyfundjoint_venture	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage (as a percent)	51.00%		51.00%
Proceeds from equity method investments			$ 165
Interest income recognized			389	$ 81	$ 179.7
Fair value gains			213.5	47.2	64.7
Income (loss) from unconsolidated investments, other			32.2
Fair value of unconsolidated investments	$ 1,794.8	$ 1,136.5	1,794.8	1,136.5
Income from unconsolidated investments	389	81	$ 389	81	179.7
Number of joint ventures with unfulfilled capital commitments | joint_venture			8
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments	113.7		$ 113.7
Equity Method Investments Closed-End Funds
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments	$ 39		$ 39
Number of closed-end funds | fund	3		3
Development Project Equity Commitments
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments	$ 140.3		$ 140.3
Recurring
Schedule of Equity Method Investments [Line Items]
Fair value of unconsolidated investments	1,794.8	1,136.5	1,794.8	1,136.5
Joint Venture
Schedule of Equity Method Investments [Line Items]
Payments to joint venture			$ 280.8
Joint Venture | Office Property | Ireland
Schedule of Equity Method Investments [Line Items]
Number of properties generating distribution | property			2
Joint Venture | Multifamily | Ireland
Schedule of Equity Method Investments [Line Items]
Number of properties generating distribution | property			1
Vintage Housing Holdings
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	157.9	$ 142.9	$ 157.9	142.9
Income from unconsolidated investments			41.4	$ 22.8	$ 50
Industrial JV
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	117.4		117.4
KW Europe Fund II
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 46		46
MF Seed Portfolio
Schedule of Equity Method Investments [Line Items]
Deconsolidation, gain (loss)			178.8
Income from unconsolidated investments			92.1
MF Seed Portfolio | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Income (loss) from unconsolidated investments, other			3.2
Fair value gains			73.3
Income from unconsolidated investments			92.1
Income (loss) from unconsolidated investments, performance allocations			$ 15.7
Minimum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage (as a percent)	5.00%		5.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage (as a percent)	50.00%		50.00%

UNCONSOLIDATED INVESTMENTS - Sc

UNCONSOLIDATED INVESTMENTS - Schedule of Joint Ventures (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 1,947.6	$ 1,289.3
Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	981.6	615.9
Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	391.4	269.1
Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	131	86.3
Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	235.2	137.2
Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	208.4	180.8
Western U.S.
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	1,172.9	694.4
Western U.S. | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	592.1	226.2
Western U.S. | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	81	83
Western U.S. | Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	131	86.3
Western U.S. | Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	189.2	118.1
Western U.S. | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	179.6	180.8
Ireland
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	533.7	523.1
Ireland | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	389.5	389.7
Ireland | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	141.1	129.7
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	3.1	3.7
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	241	71.8
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	169.3	56.4
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	42.9	15.4
United Kingdom | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 28.8	$ 0

UNCONSOLIDATED INVESTMENTS - Ca

UNCONSOLIDATED INVESTMENTS - Cash Distributions by Investment Type and Location (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Schedule of Equity Method Investments [Line Items]
Operating	$ 82.2
Investing	82.8
Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	35.4
Investing	45.7
Commercial
Schedule of Equity Method Investments [Line Items]
Operating	22.7
Investing	9.6
Funds
Schedule of Equity Method Investments [Line Items]
Operating	24.1
Investing	5.3
Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	22.2
Western U.S.
Schedule of Equity Method Investments [Line Items]
Operating	63.2
Investing	59.5
Western U.S. | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	29.7
Investing	22.5
Western U.S. | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	9.4
Investing	9.6
Western U.S. | Funds
Schedule of Equity Method Investments [Line Items]
Operating	24.1
Investing	5.3
Western U.S. | Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	22.1
Ireland
Schedule of Equity Method Investments [Line Items]
Operating	15.7
Investing	23.2
Ireland | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	5.7
Investing	23.2
Ireland | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	10
Investing	0
Ireland | Funds
Schedule of Equity Method Investments [Line Items]
Operating	0
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	3.3
Investing	0.1
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	3.3
Investing	0
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	$ 0.1

UNCONSOLIDATED INVESTMENTS - In

UNCONSOLIDATED INVESTMENTS - Income from Unconsolidated Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Income from unconsolidated investments - operating performance	$ 60.7	$ 43.4	$ 35.5
Income from unconsolidated investments - realized gains cost basis investments	0	0	53.5
Income from unconsolidated investments - unrealized and realized fair value gains	213.5	47.2	64.7
Income from unconsolidated investments - realized losses and impairment	(3.1)	(12.3)	(10.3)
Principal co-investments	271.1	78.3	143.4
Income from unconsolidated investments - performance allocation	117.9	2.7	36.3
Total interest income and foreign currency gain (loss)	$ 389	$ 81	$ 179.7

UNCONSOLIDATED INVESTMENTS -Sum

UNCONSOLIDATED INVESTMENTS -Summarized Financial Data (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Cash		$ 524.8	$ 965.1	$ 524.8	$ 965.1
Accounts receivable		36.1	47.9	36.1	47.9
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		5,059.8	4,720.5	5,059.8	4,720.5
Other assets		177.9	199.1	177.9	199.1
Total assets	[1]	7,876.5	7,329	7,876.5	7,329
Liabilities
Total liabilities	[1]	6,072.6	5,656.3	6,072.6	5,656.3
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,777.6	1,644.5	1,777.6	1,644.5
Noncontrolling interests		26.3	28.2	26.3	28.2
Total equity		1,803.9	1,672.7	1,803.9	1,672.7	$ 1,719.2	$ 1,431.2
Total liabilities and equity		7,876.5	7,329	7,876.5	7,329
Interest expense				(192.4)	(201.9)	(214.2)
Other loss				(5)	(2.3)	(10.6)
Net income				336.4	107.8	321.1
Income attributable to partner				6	(2.3)	94.4
Income from unconsolidated investments		389	$ 81	389	$ 81	$ 179.7
MF Seed Portfolio
Schedule of Equity Method Investments [Line Items]
Cash		10.6		10.6
Accounts receivable		2.4		2.4
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		943.5		943.5
Other assets		3.3		3.3
Total assets		959.8		959.8
Liabilities
Accounts payable and accrued expenses		4.4		4.4
Debt		458.9		458.9
Total liabilities		463.3		463.3
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		268.9		268.9
Noncontrolling interests		227.6		227.6
Total equity		496.5		496.5
Total liabilities and equity		$ 959.8		959.8
Unrealized fair value gains				145.6
Interest expense				(8.2)
Other loss				(9)
Net income				149.8
Income attributable to partner				(57.7)
Income from unconsolidated investments				92.1
MF Seed Portfolio | Rental
Equity
Total revenue				31.6
Rental expenses				$ (10.2)
[1]	The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from consolidated variable interest entities ("VIEs"). 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 VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

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, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	$ 1,794.8	$ 1,136.5
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	1,794.8	1,136.5
Total	1,803.3	1,072.5
Recurring | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	8.5	(64)
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	8.5	(64)
Recurring | Level 2 | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	8.5	(64)
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	1,794.8	1,136.5
Total	1,794.8	1,136.5
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) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)investment
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value option number of investments | investment	47
MF Seed Portfolio
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Deconsolidation, gain (loss) | $	$ 178.8

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, 2021	Dec. 31, 2020
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
FV Option	$ 1,568.5	$ 999.2
Funds	226.3	137.3
Total	$ 1,794.8	$ 1,136.5

FAIR VALUE MEASUREMENTS AND T_6

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Schedule of Changes in Level 3 Investments (Details) - Level 3 $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)asset	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in unrealized gain (losses) on level 3 investments	$ 195.3	$ 27.4
Equity Method Investments | Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,136.5	1,099.3	$ 662.2
Unrealized and realized gains, including performance allocations	390	109.8	161.1
Unrealized and realized losses	(5)	(13.5)	(26.9)
Contributions	273.8	109.2	191.2
Distributions	(144.3)	(189.7)	(104.1)
Foreign Exchange	(28.4)	24.5	(3.4)
Other	172.2	(3.1)	219.2
Ending Balance	$ 1,794.8	$ 1,136.5	$ 1,099.3
Equity Method Investments | Recurring | Multifamily
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Number of lots | asset	9

FAIR VALUE MEASUREMENTS AND T_7

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Schedule of Significant Inputs (Details)	Dec. 31, 2021
Terminal Capitalization Rates | Multifamily | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0370
Terminal Capitalization Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0525
Terminal Capitalization Rates | Office | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0400
Terminal Capitalization Rates | Office | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0775
Terminal Capitalization Rates | Industrial | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0350
Terminal Capitalization Rates | Industrial | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0740
Terminal Capitalization Rates | Retail | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0500
Terminal Capitalization Rates | Retail | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0700
Terminal 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	0.0535
Discount Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0740
Discount Rates | Office | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0510
Discount Rates | Office | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0925
Discount Rates | Industrial | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0440
Discount Rates | Industrial | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0840
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	0.0900
Discount Rates | Hotel | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0825
Measurement Input, Credit Spread | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0025
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, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2021GBP (£)
Derivative [Line Items]
Hedge Asset	$ 24.5	$ 12
Interest Expense	192.4	$ 201.9	$ 214.2
Foreign Exchange Contract | Foreign Currency Derivative Contracts
Cash Paid
Deferred taxes on unrealized gains (losses), arising during the period	(2.9)
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 | €				€ 40
Designated as Hedging Instrument | Foreign Exchange Contract, Four
Derivative [Line Items]
Notional | £					£ 535
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract
Derivative [Line Items]
Hedge Asset	24.5
Hedge Liability	16
Change in Unrealized Gains	59
Realized Gains	15
Interest Expense	8.4
Cash Paid
Total	(30.1)
Designated as Hedging Instrument | Level 2 | Derivatives Outstanding
Derivative [Line Items]
Hedge Asset	24.5
Hedge Liability	16
Change in Unrealized Gains	51
Realized Gains	15
Interest Expense	8.4
Cash Paid
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, One
Derivative [Line Items]
Hedge Asset	9.4
Hedge Liability	5.7
Change in Unrealized Gains	0.5
Realized Gains	15
Interest Expense	3.9
Cash Paid
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Two | KWE
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains	0
Realized Gains	0
Interest Expense	0
Cash 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 Gains	40.3
Realized Gains	0
Interest Expense	0
Cash Paid
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Four
Derivative [Line Items]
Hedge Asset	15.1
Hedge Liability	10.3
Change in Unrealized Gains	10.2
Realized Gains	0
Interest Expense	4.5
Cash Paid
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Derivative Settled
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains	8
Realized Gains	0
Interest Expense	0
Cash Paid
Cash Paid	(30.1)
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Six
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains	6.7
Realized Gains	0
Interest Expense	0
Cash Paid
Cash Paid	(27.9)
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Seven
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains	1.3
Realized Gains	0
Interest Expense	0
Cash Paid
Cash Paid	$ (2.2)

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest expense	$ 192.4	$ 201.9	$ 214.2
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	5,500	4,900
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt carrying value	5,400	5,100
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional	138.4	138.4
Interest expense	0.9	1.2
Unrealized currency derivative contract gain (loss)	$ (3.2)	5.3	$ 0.7
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
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, 2021	Dec. 31, 2020
Other Assets [Abstract]
Straight line rent receivable	$ 44.3	$ 51.6
Deferred taxes, net	12.6	22.1
Goodwill	23.9	23.9
Other, net of accumulated amortization of $— and $2.1 at December 31, 2021 and 2020, respectively	15.3	19
Hedge Asset	24.5	12
Prepaid expenses	13.3	11.8
Right of use asset, net	10	11.2
Leasing commissions, net of accumulated amortization of $9.7 and $7.4 at December 31, 2021 and 2020, respectively	8	10.2
Other Assets	177.9	199.1
Accumulated depreciation, depletion and amortization, property, plant, and equipment	27.4	27.2
Accumulated amortization, other	0	2.1
Accumulated amortization, above-market leases	60.4	58.3
Accumulated amortization, leasing commission	9.7	7.4
Above market Leases
Other Assets [Abstract]
Above-market leases, net of accumulated amortization of $60.4 and $58.3 at December 31, 2021 and 2020, respectively	8.4	15
Furniture and equipment
Other Assets [Abstract]
Furniture and equipment net of accumulated depreciation of $27.4 and $27.2 at December 31, 2021 and December 31, 2020, respectively	$ 17.6	$ 22.3

OTHER ASSETS - Additional Infor

OTHER ASSETS - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)lease	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Real Estate [Line Items]
Depreciation and amortization expense | $	$ 14.5	$ 13.6	$ 14.2
Rental expense | $	$ 0.7	$ 1	$ 1.4
Minimum
Real Estate [Line Items]
Remaining operating lease terms (in years)	2 years
Maximum
Real Estate [Line Items]
Remaining operating lease terms (in years)	237 years
Loans and other
Real Estate [Line Items]
Operating lease | lease	3
Ground Leases
Real Estate [Line Items]
Operating lease | lease	3

OTHER ASSETS - Schedule of Futu

OTHER ASSETS - Schedule of Future Minimum Rental Payments (Details) $ in Millions	Dec. 31, 2021USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
2022	$ 1.5
2023	0.8
2024	0.5
2025	0.3
2026	0.2
Thereafter	31.9
Total undiscounted rental payments	35.2
Less imputed interest	(25.2)
Total lease liabilities	$ 10

MORTGAGE DEBT - Schedule of Mor

MORTGAGE DEBT - Schedule of Mortgage Debt (Details) - Mortgage debt - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 2,977.6	$ 2,602.4
Unamortized loan fees	(17.8)	(12.6)
Total debt	2,959.8	2,589.8
Unamortized premium (discount)	2.5	4.5
Mortgage Loans Secured by Multi-Family Properties | Western U.S.
Debt Instrument [Line Items]
Debt (excluding loan fees)	1,493.1	1,345.5
Mortgage Loans Secured by Commercial | Western U.S.
Debt Instrument [Line Items]
Debt (excluding loan fees)	351	375.2
Mortgage Loans Secured by Commercial | United Kingdom
Debt Instrument [Line Items]
Debt (excluding loan fees)	683.8	429.6
Mortgage Loans Secured by Commercial | Ireland
Debt Instrument [Line Items]
Debt (excluding loan fees)	327.3	320.5
Mortgage Loans Secured by Commercial | Spain
Debt Instrument [Line Items]
Debt (excluding loan fees)	40.4	43.6
Mortgage Loans Secured by Hotel | Ireland
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 82	$ 88

MORTGAGE DEBT - Mortgage Debt,

MORTGAGE DEBT - Mortgage Debt, Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)acquisitionpropertyloan	Dec. 31, 2020
Debt Instrument [Line Items]
Number of acquisitions partially financed with mortgages | acquisition	8
Number of existing mortgages refinanced | loan	6
Number of properties that acquired supplemental financing | property	2
Mortgage debt
Debt Instrument [Line Items]
Weighted-average interest rate of investment debt (as a percent)	3.11%	3.31%
Percent of property level debt with fixed rate (as a percent)	78.00%	73.00%
Percent of property level debt with floating rate and interest caps (as a percent)	13.00%	13.00%
Percent of property level debt with floating rate, without interest caps (as a percent)	9.00%	14.00%
Total waivers on debt covenants in loan agreements | $	$ 71.9
Percent of consolidated mortgage balance	200.00%

MORTGAGE DEBT - Schedule of Mat

MORTGAGE DEBT - Schedule of Maturities (Details) - Mortgage debt - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2022	$ 17.4
2023	374.8
2024	513.9
2025	482.4
2026	478.2
Thereafter	1,108.4
Long-term debt, gross	2,975.1
Unamortized debt premium	2.5
Unamortized loan fees	(17.8)	$ (12.6)
Total debt	$ 2,959.8	$ 2,589.8

KW UNSECURED DEBT - Schedule of

KW UNSECURED DEBT - Schedule of Unsecured Debt (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
KW unsecured debt
Debt Instrument [Line Items]
Debt, net of discount (premium)	$ 1,878.9	$ 1,346.9
Unamortized loan fees	(26.6)	(14.7)
Total debt	1,852.3	1,332.2
Unamortized discount	3.9	(3.1)
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt, net of discount (premium)	75	200
Senior Notes
Debt Instrument [Line Items]
Debt, net of discount (premium)	$ 1,803.9	$ 1,146.9

KW UNSECURED DEBT - Borrowings

KW UNSECURED DEBT - Borrowings Under Credit Facilities (Details) - Revolving Credit Facility - Line of Credit - USD ($)	Mar. 25, 2020	Dec. 31, 2021	Feb. 25, 2022	Dec. 31, 2020
Line of Credit Facility [Line Items]
Debt (excluding loan fees)		$ 75,000,000		$ 200,000,000
A&R Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		500,000,000
Maturity of extension	1 year
Maximum consolidated leverage ratio	65.00%
Fixed charge coverage ratio measurement period	12 months
Covenant, percent of new equity offerings	50.00%
Maximum secured recourse leverage multiplier	1.5
Remaining borrowing capacity		425,000,000
Average outstanding amount		72,300,000
Subsequent Event | A&R Facility
Line of Credit Facility [Line Items]
Remaining borrowing capacity			$ 250,000,000
Minimum | A&R Facility
Line of Credit Facility [Line Items]
Fixed charge coverage ratio	1.70
Tangible net worth	$ 1,700,000,000
Liquidity	$ 75,000,000	$ 75,000,000
Maximum | A&R Facility
Line of Credit Facility [Line Items]
Secured recourse leverage ratio	3.50%
Liquidity	$ 299,000,000
Adjusted secured leverage ratio	55.00%
LIBOR | Minimum | A&R Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)	1.75%
LIBOR | Maximum | A&R Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)	2.50%

KW UNSECURED DEBT - 2024 Notes

KW UNSECURED DEBT - 2024 Notes (Details) - Senior Notes - 5.875% Senior Notes Due 2024 - USD ($)	Jan. 27, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt face value		$ 1,200,000,000
Interest rate (as a percent)		5.875%
Repurchased face amount	$ 1,000,000,000

KW UNSECURED DEBT - Senior Note

KW UNSECURED DEBT - Senior Notes (Details)	Apr. 01, 2021USD ($)	Feb. 11, 2021USD ($)	Feb. 09, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Aug. 23, 2021USD ($)	Mar. 15, 2021USD ($)	Jan. 27, 2021USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 45,700,000	$ 9,300,000	$ 900,000
Senior Notes | Maximum
Debt Instrument [Line Items]
Balance sheet leverage ratio				1.50
Balance sheet leverage ratio at period end				1.19
4.75% Senior Notes Due 2029 | Senior Notes
Debt Instrument [Line Items]
Debt face value		$ 500,000,000						$ 100,000,000
Interest rate (as a percent)		4.75%
Loss on extinguishment of debt			$ 14,800,000	$ 11,700,000
Amount of extinguishment of debt	$ 573,100,000
5% Senior Notes Due 2031 | Senior Notes
Debt Instrument [Line Items]
Debt face value		$ 500,000,000						$ 100,000,000
Interest rate (as a percent)		5.00%
Senior Notes Due 2030 | Senior Notes
Debt Instrument [Line Items]
Debt face value							$ 600,000,000
Interest rate (as a percent)							4.75%
4.75% Senior Notes Due 2029 and 5% Senior Notes Due 2031 | Senior Notes
Debt Instrument [Line Items]
Redemption percentage of principal		100.00%
Redemption percentage of debt option		40.00%
4.75% Senior Notes Due 2029 and 5% Senior Notes Due 2031 | Senior Notes | Maximum
Debt Instrument [Line Items]
Redemption percentage of principal		101.00%
5.875% Senior Notes Due 2024 | Senior Notes
Debt Instrument [Line Items]
Debt face value					$ 1,200,000,000
Interest rate (as a percent)					5.875%
Repurchased face amount									$ 1,000,000,000
Total repurchase amount			$ 576,900,000

KWE UNSECURED BONDS - Schedule

KWE UNSECURED BONDS - Schedule of KWE Unsecured Bonds (Details) - KWE unsecured bonds - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt	$ 622.8	$ 1,172.5
Unamortized premium (discount)	(2.1)	(2.8)
KWE
Debt Instrument [Line Items]
Debt (excluding loan fees)	624.1	1,174.4
Unamortized loan fees	(1.3)	(1.9)
Debt	622.8	1,172.5
KWE | KWE Bonds
Debt Instrument [Line Items]
Debt (excluding loan fees)		504.7
KWE | KWE Euro Medium Term Note Programme
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 624.1	$ 669.7

KWE UNSECURED BONDS - Additiona

KWE UNSECURED BONDS - Additional Information (Details) $ in Millions	Apr. 26, 2021USD ($)	Apr. 26, 2021GIP (£)	Dec. 31, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021GIP (£)
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 45.7		$ 9.3	$ 0.9
KWE | Foreign Exchange Contract, Three | Level 2 | Designated as Hedging Instrument
Debt Instrument [Line Items]
Change in Unrealized Gains				40.3
KWE unsecured bonds | KWE Bonds
Debt Instrument [Line Items]
Amount of extinguishment of debt | £		£ 150,000,000
Loss on extinguishment of debt	$ 9.3		$ 7.1
KWE unsecured bonds | KWE
Debt Instrument [Line Items]
Debt (excluding loan fees)				$ 624.1		1,174.4
Maximum percentage of total assets				60.00%				60.00%
Maximum ratio of consolidated secured indebtedness to total assets				50.00%				50.00%
Interest coverage ratio				1.50				1.50
Maximum ratio of unencumbered assets to unsecured indebtedness				125.00%				125.00%
KWE unsecured bonds | KWE | KWE Bonds
Debt Instrument [Line Items]
Debt face value | £								£ 500,000,000
Interest rate (as a percent)				3.95%				3.95%
Debt (excluding loan fees)						504.7
Effective interest rate				3.35%				3.35%
Percentage of proceeds converted to Euros with swaps				50.00%	50.00%
KWE unsecured bonds | KWE | KWE Euro Medium Term Note Programme
Debt Instrument [Line Items]
Debt (excluding loan fees)				$ 624.1		$ 669.7
Proceeds from issuance of debt				$ 625.4	€ 550,000,000
Annual fixed coupon rate				3.25%				3.25%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Millions	Oct. 02, 2020employeeindependentContractor	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Related Party Transaction [Line Items]
Related party fees		$ 35.3	$ 22.8	$ 25.6
Fees eliminated from consolidation		453.6	454	568.8
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]
Fees eliminated from consolidation		0	0	0
Elimination | Management Service
Related Party Transaction [Line Items]
Fees eliminated from consolidation		$ 0.8	$ 1.1	$ 18.1

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ 447.6	$ (37)	$ 249.5
Foreign	14.9	188.4	113
Total	$ 462.5	$ 151.4	$ 362.5

INCOME TAXES - Schedule of (Ben

INCOME TAXES - Schedule of (Benefit from) Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Federal
Current	$ 0	$ 0	$ 0
Deferred	94.4	23.3	31.2
Total federal tax expense (benefit)	94.4	23.3	31.2
State
Current	(0.2)	1.5	0.3
Deferred	9.1	0.4	(4.6)
Total state tax expense (benefit)	8.9	1.9	(4.3)
Foreign
Current	14.2	14.9	14.4
Deferred	8.7	3.5	0.1
Total foreign tax expense (benefit)	22.9	18.4	14.5
Provision for income taxes	$ 126.2	$ 43.6	$ 41.4

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of the Statutory Federal Income Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Statutory rate	21.00%
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Tax computed at the statutory rate	$ 97.1	$ 31.8	$ 76.1
Tax deduction in excess of book compensation from restricted stock vesting	0	0.1	0.3
Domestic permanent differences, primarily disallowed executive compensation	8.1	7.2	6.1
Foreign permanent differences, primarily non-deductible depreciation, amortization and interest expenses in the United Kingdom	8.2	2	1.3
Effect of foreign operations, net of foreign tax credit	7.4	(3.7)	(16.8)
Noncontrolling interests	(2.6)	(0.9)	(22.2)
State income taxes, net of federal benefit	7	2.9	0
Other	1	4.2	(3.4)
Provision for income taxes	$ 126.2	$ 43.6	$ 41.4

INCOME TAXES - Schedule of Defe

INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Foreign currency translation	$ 2.7	$ 3.7
Net operating loss carryforward and credits	172.4	137.1
Investment basis difference	96.8	91.2
Stock option expense	2.2	3
Hedging transactions	7.8	13.4
Lease liability	0.1	0.1
Accrued reserves	11.1	0.6
Total deferred tax assets	293.1	249.1
Valuation allowance	(257.1)	(204.4)
Net deferred tax assets	36	44.7
Deferred tax liabilities:
Investment basis and reserve differences	285.4	159.5
Depreciation and amortization	3.9	20
Right of use asset	0.1	0.1
Prepaid expenses and other	2.2	2.8
Capitalized interest	1.3	1.3
Total deferred tax liabilities	292.9	183.7
Deferred tax liability, net	$ (256.9)	$ (139)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Apr. 05, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Deferred tax asset	$ 293.1	$ 249.1
Valuation allowance	257.1	204.4
Increase (decrease) in valuation on deferred tax assets	52.7	4.8
KWE
Operating Loss Carryforwards [Line Items]
Valuation allowance		71.5		$ 98.3
Foreign partnership investment basis difference		$ 71.7		$ 98.3
Her Majesty's Revenue and Customs (HMRC)
Operating Loss Carryforwards [Line Items]
Deferred tax asset			$ 107
Valuation allowance	134
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	89.7				$ 30
State and Local Jurisdiction | California
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	108.2
State and Local Jurisdiction | Other States
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	14.3
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	205.7
Tax credit	78
Operating loss carryforwards due to expire	$ 0.5

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Schedule of Future Minimum Lease Payments (Details) $ in Millions	Dec. 31, 2021USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2022	$ 1.5
2023	0.8
2024	0.5
2025	0.3
2026	0.2
Thereafter	31.9
Total undiscounted rental payments	$ 35.2

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Rental expense	$ 0.7	$ 1	$ 1.4
Unfunded Capital Commitments To Joint Ventures
Other Commitments [Line Items]
Other commitment	113.7	$ 97.4
Development Project Equity Commitments
Other Commitments [Line Items]
Other commitment	$ 140.3

STOCK COMPENSATION AND OTHER _3

STOCK COMPENSATION AND OTHER RELATED PLANS - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares vested (in shares)		2,522,019	1,279,433
Restricted shares forfeited (in shares)		237,588	62,710
Compensation expense		$ 28.7	$ 32.3	$ 30.1
Performance allocation compensation		$ 42	$ 0.2	0.1
Performance fees retained (as a percent)		35.00%
Granted (in shares)		619,945	2,543,551
Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		3 years
Performance allocation compensation		$ 11.8	$ 6.4	3.6
Deferred Profit Sharing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance allocation compensation		$ 42	$ 0.2	$ 0.1
Year One | Deferred Profit Sharing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		4 years
Award vesting rights, percentage		60.00%
Year Two | Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liquidity percentage		40.00%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares paid for tax withholding for share-based compensation (in shares)			967,536	571,983	764,909
Payments related to tax withholding for share-based compensation		$ 20.5		$ 11.6	$ 16.4
Compensation expense		$ 28.7	$ 32.3	$ 30.2
2017 Amended and Restated Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Postvesting restriction period (in years)	3 years
Discount for postvesting restrictions (as a percent)	12.50%
Unrecognized compensation cost related to unvested restricted shares			$ 29.2
Unvested shares period for recognition (in years)			3 years
Granted (in shares)			2,000,000	1,900,000
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 | Performance Shares, Restricted Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		2,400,000
2017 Amended and Restated Plan | Performance Shares, Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		100,000
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 AND OTHER _4

STOCK COMPENSATION AND OTHER RELATED PLANS - Schedule of Activity under the New Equity Plan (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of Shares:
Nonvested at beginning of period (in shares)	3,453,768	2,252,360
Granted (in shares)	619,945	2,543,551
Vested (in shares)	(2,522,019)	(1,279,433)
Forfeited (in shares)	(237,588)	(62,710)
Nonvested at end of period (in shares)	1,314,106	3,453,768

EQUITY - Preferred Stock (Detai

EQUITY - Preferred Stock (Details) $ / shares in Units, $ in Millions	1 Months Ended
	Oct. 31, 2019USD ($)day$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
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, 2021	Dec. 31, 2020	Dec. 31, 2019	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	$ 62,700,000		$ 4,300,000
Common Stock
Class of Stock [Line Items]
Shares retired due to common stock repurchase program (in shares)	2,824,665	2,826,644	221,834
Shares retired due to common stock repurchase program		$ 45,800,000

EQUITY - Dividend Distributions

EQUITY - Dividend Distributions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Declared
Preferred Stock	$ 17.2	$ 17.2
Common Stock	125.8	125.6	$ 121.1
Paid
Preferred Stock	17.2	13.6	2.6
Common Stock	$ 123.5	$ 126.1	$ 114.9

EQUITY - Taxability of Dividend

EQUITY - Taxability of Dividends (Details) - $ / shares	Oct. 08, 2020	Jul. 09, 2020	Apr. 07, 2020	Jan. 02, 2020	Dec. 31, 2021
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	0	0	0	0
Return of Capital (in dollars per share)	$ 0.2200	$ 0.2200	$ 0.2200	$ 0.2200	$ 0.8800

EQUITY - Accumulated Other Comp

EQUITY - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ 1,672.7
Balance at end of period	1,803.9
Accumulated other comprehensive loss	(389.6)	$ (393.6)
Total Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(35)
Unrealized (losses) gains, arising during the period	4.4
Taxes on unrealized (losses) gains, arising during the period	(3.3)
Amounts reclassified out of AOCI during the period, gross	3.9
Amounts reclassified out of AOCI during the period, taxes	(1.7)
Noncontrolling interest	0.8
Balance at end of period	(30.9)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(32.2)
Unrealized (losses) gains, arising during the period	(58.9)
Taxes on unrealized (losses) gains, arising during the period	0.6
Amounts reclassified out of AOCI during the period, gross	3.3
Amounts reclassified out of AOCI during the period, taxes	(1.6)
Noncontrolling interest	0.8
Balance at end of period	(88)
Foreign Currency Derivative Contracts | Foreign Exchange Contract
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	2.6
Unrealized (losses) gains, arising during the period	59.1
Amounts reclassified out of AOCI during the period, gross	(0.2)
Amounts reclassified out of AOCI during the period, taxes	0.1
Noncontrolling interest	0
Balance at end of period	58.7
Foreign Currency Derivative Contracts | Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(5.4)
Unrealized (losses) gains, arising during the period	4.2
Taxes on unrealized (losses) gains, arising during the period	(1)
Amounts reclassified out of AOCI during the period, gross	0.8
Amounts reclassified out of AOCI during the period, taxes	(0.2)
Noncontrolling interest	0
Balance at end of period	(1.6)
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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 313.2	$ 92.9	$ 224.1
Weighted average shares outstanding for basic (in shares)	138,552,058	139,741,411	139,729,573
Basic earnings (loss) per share (in dollars per share)	$ 2.26	$ 0.66	$ 1.60
Weighted average shares outstanding for diluted (in shares)	140,132,435	140,347,365	141,501,323
Income per diluted (in dollars per share)	$ 2.24	$ 0.66	$ 1.58
Potentially dilutive securities (in shares)	13,572,590	13,236,896	13,133,785

SEGMENT INFORMATION - Segment I

SEGMENT INFORMATION - Segment Information, by Segment (Details) $ in Millions		3 Months Ended		12 Months Ended
		Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment				2
Revenue
Total revenue				$ 453.6	$ 454	$ 568.8
Principal co-investments				271.1	78.3	143.4
Performance allocations				117.9	2.7	36.3
Income from unconsolidated investments		$ 389	$ 81	389	81	179.7
Gain on sale of real estate, net				412.7	338	434.4
Expenses
Share-based compensation				28.7	32.3	30.1
Performance allocation compensation				42	0.2	0.1
General and administrative				33.3	34.6	42.4
Depreciation and amortization				166.3	179.6	187.6
Total expenses				549.6	508.1	594.7
Non-operating income (expense)
Interest expense				(192.4)	(201.9)	(214.2)
Loss on early extinguishment of debt				(45.7)	(9.3)	(0.9)
Other loss				(5)	(2.3)	(10.6)
Provision for income taxes				(126.2)	(43.6)	(41.4)
Net income				336.4	107.8	321.1
Net (income) loss attributable to the noncontrolling interests				(6)	2.3	(94.4)
Preferred dividends				(17.2)	(17.2)	(2.6)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders				313.2	92.9	224.1
Assets
Total assets	[1]	7,876.5	7,329	7,876.5	7,329
Expenditures for long lived assets
Investments				(1,271)	(264.2)	(402)
Corporate
Revenue
Total revenue				2.1	10.6	15.7
Principal co-investments				0	0	0
Performance allocations				0	0	0
Income from unconsolidated investments				0	0	0
Gain on sale of real estate, net				0	0	0
Expenses
Share-based compensation				28.7	32.3	30.1
Performance allocation compensation				0	0	0
General and administrative				6.3	8.1	10.5
Depreciation and amortization				0	0	0
Total expenses				68.1	71.8	76.1
Non-operating income (expense)
Loss on early extinguishment of debt				(26.5)	0	0
Other loss				(0.3)	(0.9)	(6.3)
Provision for income taxes				(103.2)	(25.2)	(26.9)
Net income				(269.3)	(156.8)	(163.1)
Net (income) loss attributable to the noncontrolling interests				0	0	0
Preferred dividends				(17.2)	(17.2)	(2.6)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders				(286.5)	(174)	(165.7)
Assets
Total assets		324.7	370.2	324.7	370.2
Rental
Revenue
Total revenue				390.5	403.9	447.4
Expenses
Cost of goods sold				132.7	135.7	152.9
Rental | Corporate
Revenue
Total revenue				0	0	0
Expenses
Cost of goods sold				0	0	0
Hotel
Revenue
Total revenue				17.1	13.9	80.5
Expenses
Cost of goods sold				12.7	13.8	60.1
Hotel | Corporate
Revenue
Total revenue				0	0	0
Expenses
Cost of goods sold				0	0	0
Property Service Fees
Revenue
Total revenue				2.1	10.6	15.7
Property Service Fees | Corporate
Revenue
Total revenue				2.1	10.6	15.7
Loans and other
Revenue
Total revenue				8.6	3.1	0.3
Loans and other | Corporate
Revenue
Total revenue				0	0	0
Investment management fees
Revenue
Total revenue				35.3	22.5	24.9
Investment management fees | Corporate
Revenue
Total revenue					0	0
Compensation and related
Expenses
Cost of goods sold				133.9	111.9	121.5
Compensation and related | Corporate
Expenses
Cost of goods sold				33.1	31.4	35.5
Co-Investments | Operating Segments
Revenue
Total revenue				43.9	25.6	25.2
Principal co-investments				271.1	78.3	143.4
Performance allocations				117.9	2.7	36.3
Income from unconsolidated investments				389	81	179.7
Gain on sale of real estate, net				0	0	0
Expenses
Share-based compensation				0	0	0
Performance allocation compensation				42	0.2	0.1
General and administrative				8.5	5.9	5.6
Depreciation and amortization				0	0	0
Total expenses				90.9	26.9	20.7
Non-operating income (expense)
Interest expense				0	0	0
Loss on early extinguishment of debt				0	0	0
Other loss				0	0	0
Provision for income taxes				0	0	0
Net income				342	79.7	184.2
Net (income) loss attributable to the noncontrolling interests				0	0	0
Preferred dividends				0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders				342	79.7	184.2
Assets
Total assets		2,077.9	1,396.4	2,077.9	1,396.4
Co-Investments | Corporate
Non-operating income (expense)
Interest expense				(73.3)	(69.5)	(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 | Property Service Fees | Operating Segments
Revenue
Total revenue				0	0	0
Co-Investments | Loans and other | Operating Segments
Revenue
Total revenue				8.6	3.1	0.3
Co-Investments | Investment management fees | Operating Segments
Revenue
Total revenue				35.3	22.5	24.9
Co-Investments | Compensation and related | Operating Segments
Expenses
Cost of goods sold				40.4	20.8	15
Consolidated | Operating Segments
Revenue
Total revenue				407.6	417.8	527.9
Principal co-investments				0	0	0
Performance allocations				0	0	0
Income from unconsolidated investments				0	0	0
Gain on sale of real estate, net				412.7	338	434.4
Expenses
Share-based compensation				0	0	0
Performance allocation compensation				0	0	0
General and administrative				18.5	20.6	26.3
Depreciation and amortization				166.3	179.6	187.6
Total expenses				390.6	409.4	497.9
Non-operating income (expense)
Interest expense				(119.1)	(132.4)	(144.7)
Loss on early extinguishment of debt				(19.2)	(9.3)	(0.9)
Other loss				(4.7)	(1.4)	(4.3)
Provision for income taxes				(23)	(18.4)	(14.5)
Net income				263.7	184.9	300
Net (income) loss attributable to the noncontrolling interests				(6)	2.3	(94.4)
Preferred dividends				0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders				257.7	187.2	205.6
Assets
Total assets		$ 5,473.9	$ 5,562.4	5,473.9	5,562.4
Consolidated | Rental | Operating Segments
Revenue
Total revenue				390.5	403.9	447.4
Expenses
Cost of goods sold				132.7	135.7	152.9
Consolidated | Hotel | Operating Segments
Revenue
Total revenue				17.1	13.9	80.5
Expenses
Cost of goods sold				12.7	13.8	60.1
Consolidated | Property Service Fees | Operating Segments
Revenue
Total revenue				0	0
Consolidated | Loans and other | Operating Segments
Revenue
Total revenue				0	0	0
Consolidated | Investment management fees | Operating Segments
Revenue
Total revenue				0	0	0
Consolidated | Compensation and related | Operating Segments
Expenses
Cost of goods sold				$ 60.4	$ 59.7	$ 71
Minimum | Co-Investments
Segment Reporting Information [Line Items]
Average ownership interest in investments		5.00%		5.00%
Maximum | Co-Investments
Segment Reporting Information [Line Items]
Average ownership interest in investments		50.00%		50.00%
[1]	The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from consolidated variable interest entities ("VIEs"). 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 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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 453.6	$ 454	$ 568.8
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	278.1	277.3	274.8
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 175.5	$ 176.7	$ 294

GUARANTOR AND NON-GUARANTOR F_3

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents		$ 524.8	$ 965.1
Accounts receivable		36.1	47.9
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		5,059.8	4,720.5
Unconsolidated investments		1,947.6	1,289.3
Investments in and advances to consolidated subsidiaries		0	0
Other assets		177.9	199.1
Loan purchases and originations		130.3	107.1
Total assets	[1]	7,876.5	7,329
Liabilities
Accounts payable		18.6	30.1
Accrued expenses and other liabilities		619.1	531.7
Total liabilities	[1]	6,072.6	5,656.3
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,777.6	1,644.5
Noncontrolling interests		26.3	28.2
Total equity		1,803.9	1,672.7	$ 1,719.2	$ 1,431.2
Total liabilities and equity		7,876.5	7,329
Mortgage debt
Liabilities
Debt		2,959.8	2,589.8
KW unsecured debt
Liabilities
Debt		1,852.3	1,332.2
KWE unsecured bonds
Liabilities
Debt		622.8	1,172.5
Reportable Legal Entities | Parent
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, net		0	0
Unconsolidated investments		0	0
Investments in and advances to consolidated subsidiaries		1,821.9	1,686.5
Other assets		0	0
Loan purchases and originations		0	0
Total assets		1,821.9	1,686.5
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		44.3	42
Total liabilities		44.3	42
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,777.6	1,644.5
Noncontrolling interests		0	0
Total equity		1,777.6	1,644.5
Total liabilities and equity		1,821.9	1,686.5
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
Reportable Legal Entities | Kennedy-Wilson, Inc.
Assets
Cash and cash equivalents		116.4	105.5
Accounts receivable		0	0.2
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		0	0
Unconsolidated investments		14.8	15.1
Investments in and advances to consolidated subsidiaries		3,859.2	3,173.4
Other assets		65.9	0.9
Loan purchases and originations		6.1	9.4
Total assets		4,062.4	3,304.5
Liabilities
Accounts payable		1	0.2
Accrued expenses and other liabilities		387.2	285.6
Total liabilities		2,240.5	1,618
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,821.9	1,686.5
Noncontrolling interests		0	0
Total equity		1,821.9	1,686.5
Total liabilities and equity		4,062.4	3,304.5
Reportable Legal Entities | Kennedy-Wilson, Inc. | Mortgage debt
Liabilities
Debt		0	0
Reportable Legal Entities | Kennedy-Wilson, Inc. | KW unsecured debt
Liabilities
Debt		1,852.3	1,332.2
Reportable Legal Entities | Kennedy-Wilson, Inc. | KWE unsecured bonds
Liabilities
Debt		0	0
Reportable Legal Entities | Guarantor Subsidiaries
Assets
Cash and cash equivalents		69.1	174.5
Accounts receivable		16	15.5
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		1,729.1	2,009.7
Unconsolidated investments		618	459.4
Investments in and advances to consolidated subsidiaries		2,488.1	1,768.4
Other assets		51.6	69.3
Loan purchases and originations		61.5	0
Total assets		5,033.4	4,496.8
Liabilities
Accounts payable		4	1.9
Accrued expenses and other liabilities		78	49.6
Total liabilities		1,174.2	1,323.4
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		3,859.2	3,173.4
Noncontrolling interests		0	0
Total equity		3,859.2	3,173.4
Total liabilities and equity		5,033.4	4,496.8
Reportable Legal Entities | Guarantor Subsidiaries | Mortgage debt
Liabilities
Debt		1,092.2	1,271.9
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		339.3	685.1
Accounts receivable		20.1	32.2
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		3,330.7	2,710.8
Unconsolidated investments		1,314.8	814.8
Investments in and advances to consolidated subsidiaries		0	0
Other assets		60.4	128.9
Loan purchases and originations		62.7	97.7
Total assets		5,128	4,469.5
Liabilities
Accounts payable		13.6	28
Accrued expenses and other liabilities		109.6	154.5
Total liabilities		2,613.6	2,672.9
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,488.1	1,768.4
Noncontrolling interests		26.3	28.2
Total equity		2,514.4	1,796.6
Total liabilities and equity		5,128	4,469.5
Reportable Legal Entities | Non-guarantor Subsidiaries | Mortgage debt
Liabilities
Debt		1,867.6	1,317.9
Reportable Legal Entities | Non-guarantor Subsidiaries | KW unsecured debt
Liabilities
Debt		0	0
Reportable Legal Entities | Non-guarantor Subsidiaries | KWE unsecured bonds
Liabilities
Debt		622.8	1,172.5
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, net		0	0
Unconsolidated investments		0	0
Investments in and advances to consolidated subsidiaries		(8,169.2)	(6,628.3)
Other assets		0	0
Loan purchases and originations		0	0
Total assets		(8,169.2)	(6,628.3)
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		0	0
Total liabilities		0	0
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		(8,169.2)	(6,628.3)
Noncontrolling interests		0	0
Total equity		(8,169.2)	(6,628.3)
Total liabilities and equity		(8,169.2)	(6,628.3)
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, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from consolidated variable interest entities ("VIEs"). 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 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, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue
Total revenue			$ 453.6	$ 454	$ 568.8
Expenses
General and administrative			33.3	34.6	42.4
Depreciation and amortization			166.3	179.6	187.6
Total expenses			549.6	508.1	594.7
Income from unconsolidated investments	$ 389	$ 81	389	81	179.7
Income from consolidated subsidiaries			0	0	0
Non-operating income (expense)
Gain on sale of real estate, net			412.7	338	434.4
Interest expense			(192.4)	(201.9)	(214.2)
Loss on early extinguishment of debt			(45.7)	(9.3)	(0.9)
Other income (loss)			(5)	(2.3)	(10.6)
Income before provision for income taxes			462.6	151.4	362.5
Provision for income taxes			(126.2)	(43.6)	(41.4)
Net income			336.4	107.8	321.1
Net income attributable to the noncontrolling interests			(6)	2.3	(94.4)
Preferred dividends			(17.2)	(17.2)	(2.6)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			313.2	92.9	224.1
Reportable Legal Entities | Parent
Revenue
Total revenue			0	0	0
Expenses
Total expenses			31.8	33.5	31.8
Income from unconsolidated investments			0	0	0
Income from consolidated subsidiaries			368.2	141.3	352.8
Non-operating income (expense)
Gain on sale of real estate, net			0	0	0
Interest expense			0	0	0
Loss on early extinguishment of debt			0	0	0
Other income (loss)			0	0	0.1
Income before provision for income taxes			336.4	107.8	321.1
Provision for income taxes			0	0	0
Net income			336.4	107.8	321.1
Net income attributable to the noncontrolling interests			0	0	0
Preferred dividends			(17.2)	(17.2)	(2.6)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			319.2	90.6	318.5
Reportable Legal Entities | Kennedy-Wilson, Inc.
Revenue
Total revenue			0.3	0	0.8
Expenses
Total expenses			108.1	86.7	95.9
Income from unconsolidated investments			3.2	0.6	0.1
Income from consolidated subsidiaries			676.8	320.1	547.7
Non-operating income (expense)
Gain on sale of real estate, net			(1.7)	0	0
Interest expense			(73.3)	(69.5)	(69.5)
Loss on early extinguishment of debt			(26.5)	0	0
Other income (loss)			0.7	2	(3.4)
Income before provision for income taxes			471.4	166.5	379.8
Provision for income taxes			(103.2)	(25.2)	(26.9)
Net income			368.2	141.3	352.9
Net income attributable to the noncontrolling interests			0	0	0
Preferred dividends			0	0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			368.2	141.3	352.9
Reportable Legal Entities | Guarantor Subsidiaries
Revenue
Total revenue			208.8	218.6	210.1
Expenses
Total expenses			214.8	201	181.8
Income from unconsolidated investments			99	(0.6)	83.3
Income from consolidated subsidiaries			508.7	294	479.8
Non-operating income (expense)
Gain on sale of real estate, net			129.6	65.9	8.2
Interest expense			(43.3)	(48.6)	(49.1)
Loss on early extinguishment of debt			(0.6)	(3.7)	(0.1)
Other income (loss)			(1.2)	(3.8)	(3.8)
Income before provision for income taxes			686.2	320.8	546.6
Provision for income taxes			(9.4)	(0.7)	1.1
Net income			676.8	320.1	547.7
Net income attributable to the noncontrolling interests			0	0	0
Preferred dividends			0	0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			676.8	320.1	547.7
Reportable Legal Entities | Non-guarantor Subsidiaries
Revenue
Total revenue			244.5	235.4	357.9
Expenses
Total expenses			194.9	186.9	285.2
Income from unconsolidated investments			286.8	81	96.3
Income from consolidated subsidiaries			0	0	0
Non-operating income (expense)
Gain on sale of real estate, net			284.8	272.1	426.2
Interest expense			(75.8)	(83.8)	(95.6)
Loss on early extinguishment of debt			(18.6)	(5.6)	(0.8)
Other income (loss)			(4.5)	(0.5)	(3.5)
Income before provision for income taxes			522.3	311.7	495.3
Provision for income taxes			(13.6)	(17.7)	(15.6)
Net income			508.7	294	479.7
Net income attributable to the noncontrolling interests			(6)	2.3	(94.4)
Preferred dividends			0	0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			502.7	296.3	385.3
Elimination
Revenue
Total revenue			0	0	0
Expenses
Total expenses			0	0	0
Income from unconsolidated investments			0	0	0
Income from consolidated subsidiaries			(1,553.7)	(755.4)	(1,380.3)
Non-operating income (expense)
Gain on sale of real estate, net			0	0	0
Interest expense				0
Loss on early extinguishment of debt			0	0	0
Other income (loss)				0	0
Income before provision for income taxes			(1,553.7)	(755.4)	(1,380.3)
Provision for income taxes			0	0	0
Net income			(1,553.7)	(755.4)	(1,380.3)
Net income attributable to the noncontrolling interests			0	0	0
Preferred dividends			0	0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			$ (1,553.7)	$ (755.4)	$ (1,380.3)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, shares in Millions	Feb. 25, 2022	Feb. 23, 2022	Oct. 31, 2019	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Sale of stock, consideration received on transaction			$ 300,000,000
A&R Facility | Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Remaining borrowing capacity					$ 425,000,000
Subsequent Event | Forecast | Fairfax Financial Holdings
Subsequent Event [Line Items]
Warrants term (in years)		7 years
Number of securities callable by warrants (in shares)		13
Strike price (in USD per share)		$ 23
Premium percentage (as a percent)		2.00%
Consecutive trading days (in days)		20 days
Subsequent Event | Forecast | Private Placement | Fairfax Financial Holdings
Subsequent Event [Line Items]
Sale of stock, consideration received on transaction				$ 300,000,000
Dividend rate (as a percent)		4.75
Subsequent Event | A&R Facility | Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Proceeds from long-term lines of credit	$ 175,000,000
Remaining borrowing capacity	$ 250,000,000

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)aUnitlot	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 2,977.6
Initial Cost
Land	1,321.3
Building & Improvements	3,865.8
Costs Capitalized Subsequent to Acquisition
Improvements	545.6
Gross Balance at December 31, 2020
Land	1,277.6
Building & Improvements	4,289.7
Total	5,567.3	$ 5,207.7	$ 5,430.5	$ 5,981.7
Accumulated Depreciation	(564)	$ (551.8)	$ (466.8)	$ (406.5)
Aggregate tax basis of all properties	4,720.5
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	34.9
Gross Balance at December 31, 2020
Land	11.3
Building & Improvements	54.3
Total	65.6
Accumulated Depreciation	$ (8.9)
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	12.9
Gross Balance at December 31, 2020
Land	9.1
Building & Improvements	26.9
Total	36
Accumulated Depreciation	$ (4.2)
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	20.3
Gross Balance at December 31, 2020
Land	37.8
Building & Improvements	80.9
Total	118.7
Accumulated Depreciation	$ (15.1)
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	4.8
Gross Balance at December 31, 2020
Land	11.6
Building & Improvements	41.3
Total	52.9
Accumulated Depreciation	$ (9)
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	26.1
Gross Balance at December 31, 2020
Land	20.7
Building & Improvements	53.8
Total	74.5
Accumulated Depreciation	$ (10.2)
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	6.8
Costs Capitalized Subsequent to Acquisition
Improvements	16.9
Gross Balance at December 31, 2020
Land	27.4
Building & Improvements	23.7
Total	51.1
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	$ 36.6
Initial Cost
Land	9.3
Building & Improvements	37.3
Costs Capitalized Subsequent to Acquisition
Improvements	5.9
Gross Balance at December 31, 2020
Land	9.3
Building & Improvements	43.6
Total	52.9
Accumulated Depreciation	$ (10.6)
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	6.2
Gross Balance at December 31, 2020
Land	13.2
Building & Improvements	59.2
Total	72.4
Accumulated Depreciation	$ (12.3)
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	8.8
Gross Balance at December 31, 2020
Land	0
Building & Improvements	90.3
Total	90.3
Accumulated Depreciation	$ (14.7)
Depreciable Life in Years	39 years
Number of units | Unit	386
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	7.1
Building & Improvements	0
Total	7.1
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain West | 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	0.5
Gross Balance at December 31, 2020
Land	0.5
Building & Improvements	1.7
Total	2.2
Accumulated Depreciation	$ (0.3)
Depreciable Life in Years	39 years
Mountain West | Commercial | Retail, Constructed 1980, 1983
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 3.8
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	$ (1.4)
Depreciable Life in Years	39 years
Mountain West | Commercial | Retail, Constructed 1961
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 6.3
Initial Cost
Land	2.6
Building & Improvements	9.5
Costs Capitalized Subsequent to Acquisition
Improvements	4.1
Gross Balance at December 31, 2020
Land	2.6
Building & Improvements	13.5
Total	16.1
Accumulated Depreciation	$ (1.5)
Depreciable Life in Years	39 years
Mountain West | Commercial | Retail, Constructed 1984, 2008
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 26.8
Initial Cost
Land	9
Building & Improvements	29.9
Costs Capitalized Subsequent to Acquisition
Improvements	1.3
Gross Balance at December 31, 2020
Land	9
Building & Improvements	31.2
Total	40.2
Accumulated Depreciation	$ (4.2)
Depreciable Life in Years	39 years
Mountain West | Commercial | Retail, Constructed 1995, 1996
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 3.6
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	$ (0.8)
Depreciable Life in Years	39 years
Mountain West | Multifamily | 366-unit Apartment building, Constructed 2000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 51.5
Initial Cost
Land	9.1
Building & Improvements	36.3
Costs Capitalized Subsequent to Acquisition
Improvements	12.5
Gross Balance at December 31, 2020
Land	9.1
Building & Improvements	48.8
Total	57.9
Accumulated Depreciation	$ (18.7)
Depreciable Life in Years	39 years
Number of units | Unit	366
Mountain West | 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	3.5
Gross Balance at December 31, 2020
Land	2
Building & Improvements	21.1
Total	23.1
Accumulated Depreciation	$ (4.2)
Depreciable Life in Years	39 years
Number of units | Unit	204
Mountain West | 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	3.1
Gross Balance at December 31, 2020
Land	1.8
Building & Improvements	16.1
Total	17.9
Accumulated Depreciation	$ (3.4)
Depreciable Life in Years	39 years
Number of units | Unit	168
Mountain West | 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	7.4
Building & Improvements	0
Total	7.4
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain West | 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	5.6
Gross Balance at December 31, 2020
Land	4.8
Building & Improvements	34.8
Total	39.6
Accumulated Depreciation	$ (5)
Depreciable Life in Years	39 years
Number of units | Unit	300
Mountain West | 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	0.9
Gross Balance at December 31, 2020
Land	1.4
Building & Improvements	26.9
Total	28.3
Accumulated Depreciation	$ (3.2)
Depreciable Life in Years	39 years
Number of units | Unit	200
Mountain West | 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	1.5
Gross Balance at December 31, 2020
Land	2.6
Building & Improvements	11.9
Total	14.5
Accumulated Depreciation	$ (1.6)
Depreciable Life in Years	39 years
Number of units | Unit	88
Mountain West | Multifamily | 492-Unit Multifamily Building Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 59.1
Initial Cost
Land	15.8
Building & Improvements	63.2
Costs Capitalized Subsequent to Acquisition
Improvements	6.4
Gross Balance at December 31, 2020
Land	15.9
Building & Improvements	69.6
Total	85.5
Accumulated Depreciation	$ (8.5)
Depreciable Life in Years	39 years
Number of units | Unit	492
Mountain West | Multifamily | 66 Unit Multifamily Building Constructed 2021
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	$ (0.3)
Depreciable Life in Years	39 years
Number of units | Unit	66
Mountain West | Multifamily | Land 3 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 3
Initial Cost
Land	2.1
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
Depreciable Life in Years	39 years
Mountain West | 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	0.9
Gross Balance at December 31, 2020
Land	7.2
Building & Improvements	29.7
Total	36.9
Accumulated Depreciation	$ (2.8)
Depreciable Life in Years	39 years
Number of units | Unit	293
Mountain West | 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	6.5
Gross Balance at December 31, 2020
Land	4.9
Building & Improvements	26.7
Total	31.6
Accumulated Depreciation	$ (3.4)
Depreciable Life in Years	39 years
Number of units | Unit	188
Mountain West | Multifamily | Land 4 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 32.3
Initial Cost
Land	5.7
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0.4
Gross Balance at December 31, 2020
Land	1.9
Building & Improvements	38
Total	39.9
Accumulated Depreciation	$ (1.2)
Depreciable Life in Years	39 years
Number of units | Unit	120
Mountain West | Multifamily | Land 1 Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 62.2
Initial Cost
Land	4
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	6.6
Gross Balance at December 31, 2020
Land	2.7
Building & Improvements	55
Total	57.7
Accumulated Depreciation	$ (0.6)
Depreciable Life in Years	39 years
Number of units | Unit	277
Mountain West | 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	$ (0.1)
Depreciable Life in Years	39 years
Number of units | Unit	10
Mountain West | Multifamily | 360-Unit Multifamily Building Constructed 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 52.6
Initial Cost
Land	16.4
Building & Improvements	65.7
Costs Capitalized Subsequent to Acquisition
Improvements	0.5
Gross Balance at December 31, 2020
Land	16.4
Building & Improvements	66.2
Total	82.6
Accumulated Depreciation	$ (3.5)
Depreciable Life in Years	39 years
Number of units | Unit	360
Mountain West | Multifamily | 260-Unit Multifamily Building Constructed 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39.7
Initial Cost
Land	13.4
Building & Improvements	53.6
Costs Capitalized Subsequent to Acquisition
Improvements	1.4
Gross Balance at December 31, 2020
Land	13.4
Building & Improvements	55.1
Total	68.5
Accumulated Depreciation	$ (1.7)
Depreciable Life in Years	39 years
Number of units | Unit	260
Mountain West | Multifamily | 280 Multifamily Building Constructed 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39.6
Initial Cost
Land	13.3
Building & Improvements	53.2
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	13.3
Building & Improvements	53.2
Total	66.5
Accumulated Depreciation	$ (0.9)
Depreciable Life in Years	39 years
Number of units | Unit	280
Mountain West | Multifamily | Land 1 Acquired 2021
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	0.2
Building & Improvements	0
Total	0.2
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain West | Multifamily | 344-Unit Multifamily Building Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39.2
Initial Cost
Land	13
Building & Improvements	52.1
Costs Capitalized Subsequent to Acquisition
Improvements	0.2
Gross Balance at December 31, 2020
Land	13
Building & Improvements	52.3
Total	65.3
Accumulated Depreciation	$ (0.7)
Depreciable Life in Years	39 years
Number of units | Unit	344
Mountain West | Multifamily | Land 2 Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	4.6
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	11.4
Building & Improvements	0
Total	11.4
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain West | Multifamily | 240-Unit Multifamily Building Constructed 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 40.2
Initial Cost
Land	11.1
Building & Improvements	44.3
Costs Capitalized Subsequent to Acquisition
Improvements	0.7
Gross Balance at December 31, 2020
Land	11.1
Building & Improvements	44.9
Total	56
Accumulated Depreciation	$ (0.6)
Depreciable Life in Years	39 years
Number of units | Unit	240
Mountain West | Multifamily | 160-Unit Multifamily Building Constructed 1990 And 1998
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 13.8
Initial Cost
Land	4.5
Building & Improvements	17.9
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	4.5
Building & Improvements	18
Total	22.5
Accumulated Depreciation	$ (0.2)
Depreciable Life in Years	39 years
Number of units | Unit	160
Mountain West | Multifamily | 332-Unit Multifamily Building Constructed 2002
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 76.2
Initial Cost
Land	26.7
Building & Improvements	106.9
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	26.7
Building & Improvements	106.9
Total	133.6
Accumulated Depreciation	$ (0.7)
Depreciable Life in Years	39 years
Number of units | Unit	332
Mountain West | Multifamily | 528-Unit Multifamily Building Constructed 1989 and 1990
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 102
Initial Cost
Land	31.1
Building & Improvements	124.4
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	31.1
Building & Improvements	124.4
Total	155.5
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Number of units | Unit	528
Mountain West | Multifamily | Land 3 Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	8
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	8
Building & Improvements	0
Total	8
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
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	13.4
Gross Balance at December 31, 2020
Land	3.1
Building & Improvements	47.6
Total	50.7
Accumulated Depreciation	$ (9.3)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Commercial Portfolio 2, Acquired 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 33.8
Initial Cost
Land	47.9
Building & Improvements	249
Costs Capitalized Subsequent to Acquisition
Improvements	12
Gross Balance at December 31, 2020
Land	31.9
Building & Improvements	204.1
Total	236
Accumulated Depreciation	$ (46.9)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office, Constructed 2003
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 194.3
Initial Cost
Land	85.3
Building & Improvements	232
Costs Capitalized Subsequent to Acquisition
Improvements	26.1
Gross Balance at December 31, 2020
Land	82.9
Building & Improvements	224.6
Total	307.5
Accumulated Depreciation	$ (54.7)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Retail, Constructed 2010
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 71.9
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	96.6
Total	101.7
Accumulated Depreciation	$ (18.6)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Commercial Portfolio 1, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 185.5
Initial Cost
Land	121.7
Building & Improvements	205.5
Costs Capitalized Subsequent to Acquisition
Improvements	11.4
Gross Balance at December 31, 2020
Land	98.3
Building & Improvements	164.7
Total	263
Accumulated Depreciation	$ (30.5)
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	22.1
Gross Balance at December 31, 2020
Land	31.2
Building & Improvements	65.5
Total	96.7
Accumulated Depreciation	$ (8.8)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Portfolio, Acquired 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 66.4
Initial Cost
Land	32.1
Building & Improvements	70.4
Costs Capitalized Subsequent to Acquisition
Improvements	4.3
Gross Balance at December 31, 2020
Land	30
Building & Improvements	70
Total	100
Accumulated Depreciation	$ (10.3)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Constructed 2001 And 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	25.4
Building & Improvements	54.8
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	25.3
Building & Improvements	54.8
Total	80.1
Accumulated Depreciation	$ (0.1)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Constructed 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 132.1
Initial Cost
Land	71.2
Building & Improvements	177.9
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	69.3
Building & Improvements	173.4
Total	242.7
Accumulated Depreciation	$ (2.2)
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
Building & Improvements	0.5
Total	4.5
Accumulated Depreciation	0
Ireland | Commercial | Office, Constructed 2003
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	76.1
Initial Cost
Land	8.2
Building & Improvements	102.6
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	6.8
Building & Improvements	85.8
Total	92.6
Accumulated Depreciation	$ (16.1)
Depreciable Life in Years	39 years
Ireland | Commercial | Retail, Constructed 1966 And 2005
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 86
Initial Cost
Land	59.8
Building & Improvements	83.1
Costs Capitalized Subsequent to Acquisition
Improvements	25.7
Gross Balance at December 31, 2020
Land	50
Building & Improvements	95.3
Total	145.3
Accumulated Depreciation	$ (14.1)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 1980
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 65.5
Initial Cost
Land	20.4
Building & Improvements	73.8
Costs Capitalized Subsequent to Acquisition
Improvements	5.7
Gross Balance at December 31, 2020
Land	17
Building & Improvements	67.4
Total	84.4
Accumulated Depreciation	$ (14.1)
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
Building & Improvements	12.5
Total	14.5
Accumulated Depreciation	$ (1.8)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 2009, Acquired 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39.8
Initial Cost
Land	4.2
Building & Improvements	64
Costs Capitalized Subsequent to Acquisition
Improvements	1.9
Gross Balance at December 31, 2020
Land	4.2
Building & Improvements	65.1
Total	69.3
Accumulated Depreciation	$ (9.2)
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	8.8
Gross Balance at December 31, 2020
Land	4.7
Building & Improvements	26.6
Total	31.3
Accumulated Depreciation	$ (2.2)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 1840 and 2000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 32.3
Initial Cost
Land	11
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	52.8
Gross Balance at December 31, 2020
Land	10.6
Building & Improvements	52.8
Total	63.4
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Ireland | Hotel | Hotel, Constructed 1824, 2005
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 82
Initial Cost
Land	54
Building & Improvements	114.3
Costs Capitalized Subsequent to Acquisition
Improvements	35
Gross Balance at December 31, 2020
Land	47.3
Building & Improvements	137.6
Total	184.9
Accumulated Depreciation	$ (36.1)
Depreciable Life in Years	39 years
Ireland | Development | Office, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 27.5
Initial Cost
Land	0.5
Building & Improvements	3.4
Costs Capitalized Subsequent to Acquisition
Improvements	43.4
Gross Balance at December 31, 2020
Land	0.5
Building & Improvements	53.3
Total	53.8
Accumulated Depreciation	0
Ireland | Development | Office, Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	1.3
Building & Improvements	0.1
Costs Capitalized Subsequent to Acquisition
Improvements	0.1
Gross Balance at December 31, 2020
Land	1.2
Building & Improvements	0.1
Total	1.3
Accumulated Depreciation	0
Spain | Commercial | Retail Portfolio, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	0.2
Building & Improvements	0.5
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0.2
Building & Improvements	0.4
Total	0.6
Accumulated Depreciation	$ (0.1)
Depreciable Life in Years	39 years
Spain | Commercial | Retail, Constructed 1995
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 40.4
Initial Cost
Land	27.1
Building & Improvements	46.2
Costs Capitalized Subsequent to Acquisition
Improvements	13.3
Gross Balance at December 31, 2020
Land	30.2
Building & Improvements	64.8
Total	95
Accumulated Depreciation	$ (8.8)
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	13.7
Gross Balance at December 31, 2020
Land	0
Building & Improvements	47.8
Total	47.8
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	14.1
Total	14.1
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	0.6
Gross Balance at December 31, 2020
Land	32.9
Building & Improvements	94.2
Total	127.1
Accumulated Depreciation	$ (14.1)
Depreciable Life in Years	39 years
Pacific Northwest | Commercial | Retail Constructed 1956
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 5.1
Initial Cost
Land	2.3
Building & Improvements	8.1
Costs Capitalized Subsequent to Acquisition
Improvements	1.8
Gross Balance at December 31, 2020
Land	2.2
Building & Improvements	9.5
Total	11.7
Accumulated Depreciation	$ (1)
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	3.3
Gross Balance at December 31, 2020
Land	30.6
Building & Improvements	109.2
Total	139.8
Accumulated Depreciation	$ (12.6)
Depreciable Life in Years	39 years
Pacific Northwest | Multifamily | 430-Unit Multifamily Building, Constructed 2006
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 62.2
Initial Cost
Land	12.8
Building & Improvements	67.4
Costs Capitalized Subsequent to Acquisition
Improvements	4.6
Gross Balance at December 31, 2020
Land	12.8
Building & Improvements	71.9
Total	84.7
Accumulated Depreciation	$ (11.5)
Depreciable Life in Years	39 years
Number of units | Unit	430
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	47.7
Total	58.7
Accumulated Depreciation	$ (5.6)
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	$ 24.7
Initial Cost
Land	6.4
Building & Improvements	44.9
Costs Capitalized Subsequent to Acquisition
Improvements	4.7
Gross Balance at December 31, 2020
Land	6.4
Building & Improvements	49.6
Total	56
Accumulated Depreciation	$ (6.4)
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	108
Total	134.8
Accumulated Depreciation	$ (11.5)
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	$ 33.1
Initial Cost
Land	11.9
Building & Improvements	47.4
Costs Capitalized Subsequent to Acquisition
Improvements	1.5
Gross Balance at December 31, 2020
Land	11.9
Building & Improvements	49
Total	60.9
Accumulated Depreciation	$ (5.3)
Depreciable Life in Years	39 years
Number of units | Unit	179
Pacific Northwest | Multifamily | 383-Unit Multifamily Building Constructed 2002 And 2008
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 115
Initial Cost
Land	38.3
Building & Improvements	153
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	38.3
Building & Improvements	153.1
Total	191.4
Accumulated Depreciation	$ (1)
Depreciable Life in Years	39 years
Number of units | Unit	383
Pacific Northwest | Multifamily | 164-Unit Multifamily Building Constructed 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 43
Initial Cost
Land	14.8
Building & Improvements	59.2
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	14.8
Building & Improvements	59.1
Total	73.9
Accumulated Depreciation	$ (0.4)
Depreciable Life in Years	39 years
Number of units | Unit	164
Northern California | Commercial | Office Constructed 2000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 61.1
Initial Cost
Land	23.5
Building & Improvements	57.3
Costs Capitalized Subsequent to Acquisition
Improvements	2.1
Gross Balance at December 31, 2020
Land	23.5
Building & Improvements	59.5
Total	83
Accumulated Depreciation	$ (3.2)
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	10.4
Gross Balance at December 31, 2020
Land	12.3
Building & Improvements	29.9
Total	42.2
Accumulated Depreciation	$ (11.9)
Depreciable Life in Years	39 years
Number of units | Unit	178
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	22.7
Gross Balance at December 31, 2020
Land	62.3
Building & Improvements	175.1
Total	237.4
Accumulated Depreciation	$ (38.6)
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	28.1
Building & Improvements	4.3
Total	32.4
Accumulated Depreciation	$ (2.2)
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, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the beginning of period	$ 5,207.7	$ 5,430.5	$ 5,981.7
Additions during the period:
Other acquisitions	137.3	183	176.2
Improvements	1,110.4	108.4	270
Foreign currency	(91.8)	129.9	26.7
Deductions during the period:
Cost of real estate sold	(796.3)	(644.1)	(1,024.1)
Balance at close of period	$ 5,567.3	$ 5,207.7	$ 5,430.5

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the beginning of period	$ 551.8	$ 466.8	$ 406.5
Additions during the period:
Depreciation expense	30.9	121.5	110.2
Deductions during the period:
Dispositions	(11.1)	(54.5)	(49)
Foreign currency	(7.6)	18	(0.9)
Balance at close of period	$ 564	$ 551.8	$ 466.8