Kennedy-Wilson (KW) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 03, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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 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
Entity Common Stock, Shares Outstanding (in shares)		137,790,768
Entity Central Index Key	0001408100
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents		$ 462.1	$ 524.8
Accounts receivable (including $16.0 and $14.2 of related party)		39.1	36.1
Real estate and acquired in place lease values (net of accumulated depreciation and amortization of $854.5 and $838.1)		5,067.4	5,059.8
Unconsolidated investments (including $2,012.5 and $1,794.8 at fair value)		2,166.9	1,947.6
Other assets		188.8	177.9
Loan purchases and originations		143.5	130.3
Total assets	[1]	8,067.8	7,876.5
Liabilities
Accounts payable		15.9	18.6
Accrued expenses and other liabilities		575.1	619.1
Total liabilities	[1]	6,004.6	6,072.6
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 March 31, 2022 and December 31, 2021 and Series B cumulative preferred Stock, $0.0001 par value, 1,000 per share liquidation preference, 1,000,000 shares authorized, 300,000 shares outstanding as of March 31, 2022.		593.1	295.2
Common stock, $0.0001 par value per share, 200,000,000 authorized, 137,790,769 and 137,955,479 shares issued and outstanding as of March 31, 2022 and December 31, 2021		0	0
Additional paid-in capital		1,658.4	1,679.6
Retained earnings		191.6	192.4
Accumulated other comprehensive loss		(405.6)	(389.6)
Total Kennedy-Wilson Holdings, Inc. shareholders' equity		2,037.5	1,777.6
Noncontrolling interests		25.7	26.3
Total equity		2,063.2	1,803.9
Total liabilities and equity		8,067.8	7,876.5
Mortgage debt
Liabilities
Long-term debt		3,029.1	2,959.8
KW unsecured debt
Liabilities
Long-term debt		1,778.1	1,852.3
KWE unsecured bonds
Liabilities
Long-term debt		$ 606.4	$ 622.8
[1]	The assets and liabilities as of March 31, 2022 include $184.5 million (including cash held by consolidated investments of $11.6 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $148.6 million) and $107.6 million (including mortgage debt of $101.4 million), respectively, from consolidated variable interest entities ("VIEs"). 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 mortgage debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Assets
Accounts receivable (including $16.0 and $14.2 of related party)		$ 16	$ 14.2
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		854.5	838.1
Unconsolidated investments (including $2,012.5 and $1,794.8 at fair value)		2,012.5	1,794.8
Assets	[1]	8,067.8	7,876.5
Cash and cash equivalents		462.1	524.8
Real estate and acquired in place lease values (net of accumulated depreciation and amortization of $854.5 and $838.1)		5,067.4	5,059.8
Liabilities
Liabilities	[1]	$ 6,004.6	$ 6,072.6
Equity
Common stock, par or stated value per share (in dollars per share)		$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)		200,000,000	200,000,000
Common stock, shares issued (in shares)		137,790,769	137,955,479
Common stock, shares outstanding (in shares)		137,790,769	137,955,479
Series A Preferred Stock
Equity
Preferred stock, par or stated value per share (in dollars per share)		$ 0.0001	$ 0.0001
Preferred stock, liquidation preference per share (in dollars per share)		$ 1,000	$ 1,000
Preferred stock, shares authorized (in shares)		1,000,000	1,000,000
Preferred stock, shares outstanding (in shares)		300,000	300,000
Series B Preferred Stock
Equity
Preferred stock, par or stated value per share (in dollars per share)		$ 0.0001	$ 0.0001
Preferred stock, liquidation preference per share (in dollars per share)		$ 1,000	$ 1,000
Preferred stock, shares authorized (in shares)		1,000,000	1,000,000
Preferred stock, shares outstanding (in shares)		300,000	300,000
Variable Interest Entity, Primary Beneficiary
Assets
Assets		$ 184.5	$ 189.6
Cash and cash equivalents		11.6	11.5
Real estate and acquired in place lease values (net of accumulated depreciation and amortization of $854.5 and $838.1)		148.6	152.8
Liabilities
Liabilities		107.6	129.2
Variable Interest Entity, Primary Beneficiary | Investment Debt
Liabilities
Long-term debt		$ 101.4	$ 103.3
[1]	The assets and liabilities as of March 31, 2022 include $184.5 million (including cash held by consolidated investments of $11.6 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $148.6 million) and $107.6 million (including mortgage debt of $101.4 million), respectively, from consolidated variable interest entities ("VIEs"). 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 mortgage debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue
Total revenue	$ 124.7	$ 99.4
Income from unconsolidated investments
Principal co-investments	78.2	18.8
Performance allocations	27.2	(0.4)
Total income from unconsolidated investments	105.4	18.4
Gain on sale of real estate, net	1.9	73.5
Expenses
Share-based compensation	7.1	7.7
Performance allocation compensation	11.8	0
General and administrative	7.9	6.8
Depreciation and amortization	43.3	44.4
Total expenses	139.1	120.5
Interest expense	(50.5)	(51.6)
Loss on early extinguishment of debt	0	(14.8)
Other loss	5.8	(3.3)
Income before provision for income taxes	48.2	1.1
Provision for income taxes	(8.2)	(2.7)
Net income (loss)	40	(1.6)
Net loss attributable to the noncontrolling interests	0.1	0.3
Preferred dividends	(5.3)	(4.3)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 34.8	$ (5.6)
Basic earnings (loss) per share
(Loss) income per share (in dollars per share)	$ 0.25	$ (0.04)
Weighted average shares outstanding (in shares)	136,815,290	138,772,819
Diluted earnings (loss) per share
Loss (income) per share (in dollars per share)	$ 0.24	$ (0.04)
Weighted average shares outstanding (in shares)	150,420,132	138,772,819
Dividends declared per common share (in dollars per share)	$ 0.24	$ 0.22
Rental
Revenue
Total revenue	$ 104.2	$ 88.9
Expenses
Cost of goods and services	35.7	33
Hotel
Revenue
Total revenue	6.5	0.8
Expenses
Cost of goods and services	4.3	1.6
Investment management fees
Revenue
Total revenue	11.3	7.4
Property services fees
Revenue
Total revenue	0.4	0.7
Loan and other
Revenue
Total revenue	2.3	1.6
Compensation and related
Expenses
Cost of goods and services	$ 29	$ 27

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investment management fees
Investment management and property services fees— related party	$ 11.3	$ 7.3
Property services fees
Investment management and property services fees— related party	$ 0	$ 0.1

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income (loss)	$ 40	$ (1.6)
Other comprehensive income, net of tax:
Unrealized foreign currency translation loss	(28)	(23.8)
Total other comprehensive (loss) income for the period	(16.8)	16.3
Comprehensive income	23.2	14.7
Comprehensive (income) loss attributable to noncontrolling interests	0.8	0.5
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.	24	15.2
Currency Derivative Contracts
Other comprehensive income, net of tax:
Unrealized forward contract forward currency gain (loss) and unrealized gain (loss) on interest rate swaps	8.2	38.4
Interest Rate Swaps
Other comprehensive income, net of tax:
Unrealized forward contract forward currency gain (loss) and unrealized gain (loss) on interest rate swaps	$ 3	$ 1.7

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Millions	Total	Currency Derivative Contracts	Interest Rate Swaps	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCurrency Derivative Contracts	Accumulated Other Comprehensive LossInterest Rate Swaps	Noncontrolling Interests
Beginning balance outstanding (in shares) at Dec. 31, 2020				300,000	141,365,323
Balance beginning 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)					(237,558)
Restricted stock grants (RSG) (in shares)					614,945
Shares retired due to RSG vesting (in shares)					(658,293)
Shares retired due to RSG vesting	(14.1)					(14.1)
Shares retired due to common stock repurchase program (in shares)					(10,281)
Shares retired due to common stock repurchase program	(0.2)				$ (0.2)	(0.2)	0
Stock based compensation	7.7					7.7
Other comprehensive (loss) income:
Unrealized foreign currency translation loss, net of tax	(23.8)							(23.6)			(0.2)
Unrealized currency derivative contracts gain (loss)		$ 38.4	$ 1.7						$ 38.4	$ 1.7
Common stock dividends	(31)						(31)
Preferred stock dividends	(4.3)						(4.3)
Net loss	(1.6)						(1.3)				(0.3)
Contributions from noncontrolling interests	0.9										0.9
Distributions to noncontrolling interests	(0.1)										(0.1)
Ending balance outstanding (in shares) at Mar. 31, 2021				300,000	141,074,136
Balance end of period at Mar. 31, 2021	1,646.3			$ 295.2	$ 0	1,718.6	(18.9)	(377.1)			28.5
Beginning balance outstanding (in shares) at Dec. 31, 2021				300,000	137,955,479
Balance beginning of period at Dec. 31, 2021	1,803.9			$ 295.2	$ 0	1,679.6	192.4	(389.6)			26.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock issuance (in shares)				300,000
Preferred stock issuance	297.9			$ 297.9
Restricted stock grants (RSG) (in shares)					1,221,362
Shares retired due to RSG vesting (in shares)					(796,755)
Shares retired due to RSG vesting	(18.6)					(18.6)
Shares retired due to common stock repurchase program (in shares)					(589,317)
Shares retired due to common stock repurchase program	(12.5)					(9.7)	(2.8)
Stock based compensation	7.1					7.1
Other comprehensive (loss) income:
Unrealized foreign currency translation loss, net of tax	(28)							(27.3)			(0.7)
Unrealized currency derivative contracts gain (loss)		$ 8.3	$ 3						$ 8.3	$ 3
Common stock dividends	(32.8)						(32.8)
Preferred stock dividends	(5.3)						(5.3)
Net loss	40						40.1				(0.1)
Contributions from noncontrolling interests	0.6										0.6
Distributions to noncontrolling interests	(0.4)										(0.4)
Ending balance outstanding (in shares) at Mar. 31, 2022				600,000	137,790,769
Balance end of period at Mar. 31, 2022	$ 2,063.2			$ 593.1	$ 0	$ 1,658.4	$ 191.6	$ (405.6)			$ 25.7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income (loss)		$ 40	$ (1.6)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Gain from sale of real estate, net		(1.9)	(73.5)
Depreciation and amortization		43.3	44.4
Above/below market and straight-line rent amortization		(1.2)	7.1
Uncollectible lease income		1.8	2.1
Provision for (benefit from) deferred income taxes		5.7	(1.8)
Amortization of deferred loan costs		2.1	6.4
Amortization of discount and accretion of premium on issuance of the senior notes and mortgage debt		(0.2)	1.6
Unrealized net gain on derivatives		(7.5)	(1.1)
Income from unconsolidated investments		(105.4)	(18.4)
Accretion of interest income on loans		0	(0.3)
Operating distributions from unconsolidated investments		18	16.4
Deferred compensation		15.3	2.6
Share-based compensation		7.1	7.7
Change in assets and liabilities:
Accounts receivable		(4.3)	(0.6)
Other assets		(10.7)	(18.9)
Accounts payable, accrued expenses and other liabilities		(61)	(48.7)
Net cash used in operating activities		(58.9)	(76.6)
Cash flows from investing activities:
Proceeds from collection of loans		0.1	19.8
Issuance of loans		(13.4)	(12.9)
Net proceeds from sale of consolidated real estate		33.9	228.3
Purchases of real estate		(103.7)	0
Capital expenditures to real estate		(26.6)	(47.3)
Proceeds from (premiums paid) settlement of foreign derivative contracts		5.8	(3.8)
Distributions from unconsolidated investments		7.2	21.6
Contributions to unconsolidated investments		(149.6)	(52.8)
Net cash (used in) provided by investing activities		(246.3)	152.9
Cash flows from financing activities:
Borrowings under senior notes payable		0	1,204.3
Repayment of senior notes payable		0	(576.9)
Issuance of preferred stock, net of issuance costs		297.9	0
Borrowings under line of credit		175	0
Repayment of line of credit		(250)	(150)
Borrowings under mortgage debt		102.7	50.4
Repayment of mortgage debt		(1.3)	(67.7)
Payment of debt issue costs		(1.4)	(17.1)
Repurchase and retirement of common stock		(31.3)	(14.3)
Common dividends paid		(36.1)	(32.6)
Preferred dividends paid		(4.3)	(4.3)
Contributions from noncontrolling interests		0.6	0.9
Distributions to noncontrolling interests		(0.4)	(0.1)
Net cash provided by financing activities		251.4	392.6
Effect of currency exchange rate changes on cash and cash equivalents		(8.9)	4.6
Net change in cash and cash equivalents	[1]	(62.7)	473.5
Cash and cash equivalents, beginning of period		524.8	965.1
Cash and cash equivalents, end of period		462.1	1,438.6
Supplemental cash flow information:
Interest	[2],[3]	68.6	36.2
Income taxes		(0.2)	2.2
Supplemental disclosure of non-cash investing and financing activities:
Accrued capital expenditures		9	0.4
Common dividends declared but not paid on common stock		32.8	31
Preferred dividends declared but not paid on preferred stock		$ 5.3	$ 4.3
[1]	See discussion of non-cash effects in the supplemental cash flow information.
[2]	$0.9 million and $1.1 million attributable to noncontrolling interests for the three months ended March 31, 2022 and 2021, respectively.
[3]	Excludes $1.0 million and $0.8 million of capitalized interest for the three months ended March 31, 2022 and 2021, respectively.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Interest paid attributable to noncontrolling interest	$ 0.9	$ 1.1
Interest, capitalized	1	$ 0.8
Debt Redemption
Restricted cash	$ 35.1		$ 24.2

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Kennedy Wilson's unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") may have been condensed or omitted pursuant to SEC rules and regulations, although the Company believes that the disclosures are adequate to make their presentation not misleading. In the Company's opinion, all adjustments, consisting of only normal and recurring items, necessary for a fair presentation of the results of operations for the three months ended March 31, 2022 and 2021 have been included. The results of operations for these periods are not necessarily indicative of results that might be expected for the full year ending December 31, 2022. For further information, your attention is directed to the footnote disclosures found in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. Throughout these unaudited interim consolidated financial statements “Kennedy Wilson” is referenced, which is defined as the Company and its subsidiaries that are consolidated in its financial statements under U.S. GAAP. All significant intercompany balances and transactions have been eliminated in consolidation. "KW," “KWH,” “Kennedy Wilson,” the “Company,” “we,” “our,” or “us” are also referred to which are defined as Kennedy-Wilson Holdings, Inc. and its wholly-owned subsidiaries. In addition, throughout these unaudited interim consolidated financial statements, “equity partners” is referred to, which is defined as the non-wholly owned subsidiaries that are consolidated in the Company's financial statements under U.S. GAAP and third-party equity partners. Kennedy Wilson evaluates its relationships with other entities to identify whether they are variable interest entities ("VIEs") as defined in the Accounting Standards Codification ("ASC") Subtopic 810-10, Consolidation , as amended by Accounting Standards Update ("ASU") 2015-02, Consolidation (Topic 810) - Amendments to the Consolidation Analysis , and to assess whether it is the primary beneficiary of such entities. If the determination is made that Kennedy Wilson is the primary beneficiary, then that entity is included in the consolidated financial statements in accordance with the ASC Subtopic 810-10. Statement of Income Presentation As the Co-Investment business has grown, the Company started 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 its 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 typically reports significant gains on sale of real estate, net. 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.

Summary of Significant Accounti

Summary of Significant Accounting Polices and Adoption of New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ADOPTION OF NEW ACCOUNTING PRONOUNCEMENTS	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ADOPTION OF NEW ACCOUNTING PRONOUNCEMENTS REVENUE RECOGNITION — 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 . Hotel income is earned when rooms are occupied or goods and services have been delivered or rendered. Sales of real estate are recognized when title to the real property passes to the buyer and there is no continuing involvement in the real property. Management fees are primarily comprised of investment management and property services fees. Investment management fees are earned from limited partners of funds, co-investments, or separate accounts and are generally based on a fixed percentage of committed capital or net asset value. Property services fees are earned from the Company's auction sales and marketing business. The Company provides investment management 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 consist of acquisition and disposition fees and auction fees. 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. 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. Acquisition fees and expenses associated with the acquisition of properties determined to be business combinations are expensed as incurred. Acquisition fees and expenses associated with transactions determined to be asset acquisitions are capitalized as part of the real estate acquired. 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 or real estate related investments. 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, contributions, distributions and foreign currency movements. 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 51 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 commingled funds it manages and sponsors (the "Funds") that are investment companies under 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 March 31, 2022, the Company has $196.9 million of accrued performance allocations recorded to unconsolidated investments that are subject to future adjustments based on the underlying performance of investments. 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 Measuremen t. 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. 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. 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 loss. 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 currency fluctuations, Kennedy Wilson entered into currency derivative contracts to manage its exposure to currency fluctuations between its functional currency (U.S. dollar) and the functional currency (euro and the British pound) of certain of its wholly-owned and consolidated subsidiaries. KWE has also entered into currency derivative contracts to manage its exposure to euro to British pound currency fluctuations. See Note 5 for a more detailed discussion of Kennedy Wilson's currency derivative contracts. LONG-LIVED ASSETS — Kennedy Wilson reviews its long-lived assets (excluding goodwill) whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with ASC Subtopic 360-10, Impairment of Long-Lived Assets . Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. If certain criteria are met, 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. RECENT ACCOUNTING PRONOUNCEMENTS For information regarding accounting standards that the Company adopted during the periods presented, see note 2 of the notes to the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. The Company did not adopt any new accounting standards during the three months ended March 31, 2022. The FASB did not issue any other ASUs during the first three months of 2022 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 In-Place Lease

Real Estate and In-Place Lease Value	3 Months Ended
	Mar. 31, 2022
Real Estate [Abstract]
REAL ESTATE AND IN-PLACE LEASE VALUE	REAL ESTATE AND IN-PLACE LEASE VALUE The following table summarizes Kennedy Wilson's investment in consolidated real estate properties at March 31, 2022 and December 31, 2021: March 31, December 31, (Dollars in millions) 2022 2021 Land $ 1,286.5 $ 1,277.6 Buildings 3,806.6 3,744.1 Building improvements 499.3 545.6 In-place lease values 329.5 330.6 5,921.9 5,897.9 Less accumulated depreciation and amortization (854.5) (838.1) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,067.4 $ 5,059.8 Real property, including land, buildings, and building improvements are included in real estate and are generally stated at cost. Buildings and building improvements are depreciated on a straight-line method over their estimated lives not to exceed 40 years. Acquired in-place lease values are recorded at their estimated fair value and depreciated over their respective weighted-average lease term which was 6.3 years at March 31, 2022. 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 transacted with willing third-party sellers. During the three months ended March 31, 2022, 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 Net Purchase Price United Kingdom Office building 25.5 74.1 6.9 — 106.5 $ 25.5 $ 74.1 $ 6.9 $ — $ 106.5 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets, net and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. Gains on Sale of Real Estate, Net During the three months ended March 31, 2022, Kennedy Wilson recognized gains on sale of real estate, net of $1.9 million. During the three months ended March 31, 2021, Kennedy Wilson recognized gains on sale of real estate, net of $73.5 million. These gains are primarily due to the sale of Friars Bridge Court, an office property in the United Kingdom. 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 unless circumstances indicate revenue should be recognized on a cash basis. The majority of the Company's rental expenses, including common area maintenance and real estate taxes and insurance on commercial properties, 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 March 31, 2022: (Dollars in millions) Minimum Rental Revenues (1) 2022 (remainder) $ 161.0 2023 151.3 2024 127.8 2025 107.4 2026 88.0 Thereafter 274.9 Total $ 910.4 (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	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 741.0 $ 79.8 $ 148.5 $ 183.8 $ 187.2 $ 1,340.3 Ireland 399.1 145.7 — 4.2 — 549.0 United Kingdom — 190.6 — 55.8 31.2 277.6 Total $ 1,140.1 $ 416.1 $ 148.5 $ 243.8 $ 218.4 $ 2,166.9 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 During the three months ended March 31, 2022, the change in unconsolidated investments primarily relates to $149.6 million of contributions to new and existing unconsolidated investments, $25.2 million of distributions from unconsolidated investments, $105.4 million of income from unconsolidated investments, and a $9.5 million decrease related to other items which primarily related to foreign exchange movements. Please see below for additional details. As of March 31, 2022 and December 31, 2021, $2,012.5 million and $1,794.8 million, respectively, of unconsolidated investments were accounted for under fair value. See Note 5 for more detail. Contributions to Joint Ventures The $149.6 million contributed to joint ventures, primarily to fund new acquisitions in the Company's European industrial separate account and capital calls for development of the Kona Village hotel. Distributions from Joint Ventures The following table details cash distributions by investment type and geographic location for the three months ended March 31, 2022: Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 6.9 $ 2.3 $ 2.6 $ — $ 4.1 $ 4.4 $ — $ 13.6 $ 6.7 Ireland 2.0 — 2.3 — — — — — 4.3 — United Kingdom — — — — — — 0.1 0.5 0.1 0.5 Total $ 8.9 $ 2.3 $ 4.9 $ — $ 4.1 $ 4.4 $ 0.1 $ 0.5 $ 18.0 $ 7.2 Investing distributions resulted primarily from the sales of one multifamily property in Fund VI, refinancing and buyouts from limited partners in the VHH portfolio, and a partial redemption of a non-core 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 three and three months ended March 31, 2022 and 2021: Three Months Ended March 31, (Dollars in millions) 2022 2021 Income from unconsolidated investments - operating performance $ 21.6 $ 13.5 Income from unconsolidated investments - fair value 56.6 5.3 Income from unconsolidated investments - performance allocations 27.2 (0.4) $ 105.4 $ 18.4 Operating performance is related to underlying performance from unconsolidated investments. Fair value gains primarily related to the Western United States multifamily properties due to increases in market rents. The Company 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 and exchange movements on Euro denominated unconsolidated investments carried at fair value. Income from performance allocations primarily relates to the increase in the Company's unrealized performance allocation related to higher fair values on market rate multifamily properties and European Industrial assets as discussed directly above. Within the commingled funds the Company has increases in performance allocations at Fund VI relating to multifamily properties and office and flex assets that have completed their business plans. Fund V has had a decrease in performance allocations relating to cap rate expansion on urban office properties. Vintage Housing Holdings ("VHH") As of March 31, 2022 and December 31, 2021, the carrying value of the Company's investment in VHH was $181.5 million and $157.9 million, respectively. The increase in the three months ended March 31, 2022 related to cash contributions for new investments and fair value gains in the current period related to rental increases at the properties and fair value increases relating to fixed rate property level mortgages as the value of these mortgages to VHH have increased as market rates have increased. Prior period fair value gains 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. Capital Commitments

Fair Value Measurements and the

Fair Value Measurements and the Fair Value Option	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION	FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of March 31, 2022: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 2,012.5 $ 2,012.5 Net currency derivative contracts — 19.4 — 19.4 Total $ — $ 19.4 $ 2,012.5 $ 2,031.9 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 Unconsolidated Investments Kennedy Wilson elected to use the fair value option for 51 unconsolidated investments to more accurately reflect the timing of the value created in the underlying investments and report those results in current operations. Kennedy Wilson's investment balance in the FV Option investments was $1,779.0 million and $1,568.5 million at March 31, 2022 and December 31, 2021, respectively, which is included in unconsolidated investments in the accompanying balance sheets. Additionally, Kennedy Wilson records its investments in the Funds based upon the net assets that would be allocated to its interests in the Funds, assuming the Funds were to liquidate their investments at fair value as of the reporting date. Kennedy Wilson’s investment balance in the Funds was $233.5 million and $226.3 million at March 31, 2022 and December 31, 2021, respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets. As of March 31, 2022, Kennedy Wilson had unfunded capital commitments to the Funds in the amount of $27.7 million. See Note 4 for more information on the fluctuations for these investments. In estimating fair value of real estate held by the Funds and the 51 FV Option investments, the Company considers significant unobservable inputs to be the capitalization and discount rates. The following table presents changes in Level 3 investments in Funds and FV Options for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (Dollars in millions) 2022 2021 Beginning balance $ 1,794.8 $ 1,136.5 Unrealized and realized gains 115.7 25.5 Unrealized and realized losses (16.3) (9.5) Contributions 147.9 52.2 Distributions (20.4) (35.4) Foreign Exchange (9.7) (13.0) Other 0.5 1.5 Ending Balance $ 2,012.5 $ 1,157.8 Unobservable Inputs for Real Estate In determining estimated fair values, the Company utilizes two approaches to value real estate, a discounted cash flow analysis and direct capitalization approach. Discounted cash flow models estimate future cash flows from a buyer's perspective (including terminal values) and compute a present value using a market discount rate. The holding period in the analysis is typically ten years. This is consistent with how market participants often estimate values in connection with buying real estate but these holding periods can be shorter depending on the life of the structure an investment is held within. The cash flows include a projection of the net sales proceeds at the end of the holding period, computed using a market reversionary capitalization rate. Under the direct capitalization approach, the Company applies a market derived capitalization rate to current and future income streams with appropriate adjustments for tenant vacancies or rent-free periods. These capitalization rates and future income streams are derived from comparable property and leasing transactions and are considered to be key inputs in the valuation. Other factors that are taken into consideration include tenancy details, planning, building and environmental factors that might affect the property. The Company also utilizes valuations from independent real estate appraisal firms on some of its investments ("appraised valuations"), with certain investment structures requiring appraised valuations periodically (typically annually). All appraised valuations are reviewed and approved by the Company. The accuracy of estimating fair value for investments cannot be determined with precision and cannot be substantiated by comparison to quoted prices in active markets and may not be realized in a current sale or immediate settlement of the asset or liability. Additionally, there are inherent uncertainties in any fair value measurement technique, and changes in the underlying assumptions used, including capitalization rates, discount rates, liquidity risks, and estimates of future cash flows could significantly affect the fair value measurement amounts. All valuations of real estate involve subjective judgments, and the actual market price of real estate can only be determined by negotiation between independent parties in a sales transaction. The table below describes the range of unobservable inputs for real estate assets as of March 31, 2022: Estimated Rates Used for Capitalization Rates Discount Rates Multifamily Income approach - discounted cash flow 5.00% —7.00% 7.30% — 9.30% Income approach - direct capitalization 3.20% — 4.90% N/A Office Income approach - discounted cash flow 5.20% — 7.80% 6.80% — 9.00% Income approach - direct capitalization 3.90% — 7.90% N/A Industrial Income approach - discounted cash flow 4.80% — 6.30% 6.00% — 7.50% Income approach - direct capitalization 3.10% — 6.10% N/A Retail Income approach - discounted cash flow 6.50% 8.30% Hotel Income approach - discounted cash flow 6.00% 8.30% Residential Income approach - discounted cash flow N/A N/A In valuing indebtedness, the Company considers significant inputs such as the term of the debt, value of collateral, market loan-to-value ratios, market interest rates and spreads, and credit quality of investment entities. The credit spreads used by Kennedy Wilson for these types of investments range from 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 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 three months ended March 31, 2022 and future periods. Currency Derivative Contracts Kennedy Wilson uses foreign currency derivative contracts such as forward contracts and options to manage its foreign currency risk exposure against the effects of a portion of its certain non-U.S. dollar denominated currency net investments. Foreign currency options are valued using a variant of the Black-Scholes model tailored for currency derivatives and the foreign currency forward contracts are valued based on the difference between the contract rate and the forward rate at maturity of the underlying currency applied to the notional value in the underlying currency discounted at a market rate for similar risks. Although the Company has determined that the majority of the inputs used to value its currency derivative contracts fall within Level 2 of the fair value hierarchy, the counterparty risk adjustments associated with the currency derivative contracts utilize Level 3 inputs. However, as of March 31, 2022, Kennedy Wilson assessed the significance of the impact of the counterparty valuation adjustments on the overall valuation of its derivative positions and determined that the counterparty valuation adjustments are not significant to the overall valuation of its derivative. As a result, the Company has determined that its derivative valuation in its entirety be classified in Level 2 of the fair value hierarchy. Changes in fair value are recorded in 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 . Changes in fair value on hedges associated with investments that are held at fair value are recorded through principal co-investments within income from unconsolidated investments. The Company has elected to amortize the spot to forward difference ("forward points") to interest expense over the contractual life of the hedges. On hedges associated with fair value investments the forward point amortization to interest expense is recorded as a component of principal co-investments. For hedges on consolidated investments forward point amortization is recorded to interest expense on the statement of operations. The fair value of the currency derivative contracts held as of March 31, 2022 and December 31, 2021 are reported in other assets for hedge assets and included in accrued expenses and other liabilities for hedge liabilities on the accompanying balance sheet. The table below details the currency derivative contracts Kennedy Wilson held as of March 31, 2022 and the activity during the three months ended March 31, 2022. (Dollars, Euros and British Pound Sterling in millions) March 31, 2022 Three Months Ended March 31, 2022 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability OCI Gains (Losses) Income Statement Gains Interest Expense Cash Paid Outstanding EUR USD € 262.5 $ 10.9 $ 4.0 $ 0.1 $ 2.1 $ 1.0 $ — EUR (1) GBP € 40.0 — — — — — — EUR (1)(2) GBP € 550.0 — — (1.3) — — — GBP USD £ 535.0 15.8 3.4 9.7 — 1.0 — Total Outstanding 26.7 7.4 8.5 2.1 2.0 — Settled GBP USD £ 100.0 — — 2.7 — 0.1 5.8 Total Settled — — 2.7 — 0.1 5.8 Total $ 26.7 $ 7.4 $ 11.2 (3) $ 2.1 $ 2.1 $ 5.8 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 9. (3) Excludes deferred tax benefit of $2.9 million. The gains recognized through other comprehensive income will remain in accumulated other comprehensive loss until the underlying investments that they were hedging are substantially liquidated by Kennedy Wilson. The currency derivative contracts discussed above are offset by foreign currency translation of the Company's foreign net assets. For the three months ended March 31, 2022, Kennedy Wilson had a gross foreign currency translation loss on its net assets of $28.5 million. As of March 31, 2022, the Company has hedged 90% of the gross asset carrying value of its euro denominated investments and 88% of the gross asset carrying value of its GBP denominated investments. See Note 10 for a complete discussion on other comprehensive income including currency derivative contracts and foreign currency translations. Interest Rate Swaps and Caps The Company has interest rate swaps and caps to hedge its exposure to rising interest rates. Changes in the value of interest rate swaps that are designated to specific investments have fair value movements recorded to other comprehensive income and had fair value gains was $4.0 million for three months ended March 31, 2022. Changes in the value of interest rate swaps and caps that are undesignated are recorded to interest expense and reduced interest expense by $6.4 million for three months ended March 31, 2022. Some of the Company's unconsolidated investments have interest rate caps and current period changes in value resulted in a $6.3 million gain, which is recorded in principal co-investments. Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable including related party receivables, accounts payable, accrued expenses and other liabilities, accrued salaries and benefits, and deferred and accrued income taxes approximate fair value due to their short-term maturities. The carrying value of loans (excluding related party loans as they are presumed not to be an arm’s length transaction) approximates fair value as the terms are similar to loans with similar characteristics available in the market. Debt liabilities are accounted for at face value plus net unamortized debt premiums and any fair value adjustments as part of business combinations. The fair value as of March 31, 2022 and December 31, 2021 for the mortgage debt, Kennedy Wilson unsecured debt, and KWE unsecured bonds were estimated to be approximately $5.4 billion and $5.5 billion, respectively, based on a comparison of the yield that would be required in a current transaction, taking into consideration the risk of the underlying collateral and the Company's credit risk to the current yield of a similar security, compared to their carrying value of $5.4 billion and $5.4 billion at March 31, 2022 and December 31, 2021, respectively. The inputs used to value the Company's mortgage debt, Kennedy Wilson unsecured debt, and KWE unsecured bonds are based on observable inputs for similar assets and quoted prices in markets that are not active and are therefore determined to be Level 2 inputs.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following: (Dollars in millions) March 31, 2022 December 31, 2021 Straight line rent receivable $ 41.6 $ 44.3 Hedge assets 26.7 24.5 Goodwill 23.9 23.9 Interest rate caps and swaps 17.3 2.3 Furniture and equipment net of accumulated depreciation of $27.4 and $27.4 at March 31, 2022 and December 31, 2021, respectively 16.4 17.6 Other 15.6 13.0 Prepaid expenses 12.6 13.3 Deferred taxes, net 10.3 12.6 Right of use asset, net 9.4 10.0 Leasing commissions, net of accumulated amortization of $10.1 and $9.7 at March 31, 2022 and December 31, 2021, respectively 7.9 8.0 Above-market leases, net of accumulated amortization of $58.9 and $60.4 at March 31, 2022 and December 31, 2021, respectively 7.1 8.4 Other Assets $ 188.8 $ 177.9 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 236 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 (remainder) $ 1.1 2023 0.8 2024 0.5 2025 0.3 2026 0.2 Thereafter 31.0 Total undiscounted rental payments 33.9 Less imputed interest (24.5) Total lease liabilities $ 9.4

Mortgage Debt

Mortgage Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
MORTGAGE DEBT	MORTGAGE DEBT The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of March 31, 2022 and December 31, 2021: (Dollars in millions) Carrying amount of mortgage debt as of (1) Mortgage Debt by Product Type Region March 31, 2022 December 31, 2021 Multifamily (1) Western U.S. $ 1,495.5 $ 1,493.1 Commercial (1) United Kingdom 760.1 683.8 Commercial (1) Ireland 322.2 327.3 Commercial Western U.S. 350.5 351.0 Commercial Spain 39.3 40.4 Hotel Ireland 79.8 82.0 Mortgage debt (excluding loan fees) (1) 3,047.4 2,977.6 Unamortized loan fees (18.3) (17.8) Total Mortgage Debt $ 3,029.1 $ 2,959.8 (1) The mortgage debt 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 as a reduction of interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan premium as of March 31, 2022 and December 31, 2021 was $2.3 million and $2.5 million, respectively. The Company's mortgage debt had a weighted average interest rate of 3.19% per annum as of March 31, 2022 and 3.11% as of December 31, 2021. As of March 31, 2022, 64% of Kennedy Wilson's property level debt was fixed rate, 33% was floating rate with interest caps and 3% was floating rate without interest caps, compared to 78% of Kennedy Wilson's consolidated property level debt was fixed rate, 13% was floating rate with interest caps and 9% was floating rate without interest caps, as of December 31, 2021. The weighted average strike price on caps of Kennedy Wilson's variable rate mortgage debt is 1.68% as of March 31, 2022. Mortgage Loan Transactions and Maturities During the three months ended March 31, 2022, one property acquisition and one existing investment were consummated initially without any debt and were subsequently partially financed with a mortgage loan. The aggregate maturities of mortgage loans as of March 31, 2022 are as follows: (Dollars in millions) Aggregate Maturities 2022 (remainder) $ 16.0 2023 365.6 2024 508.5 2025 477.0 2026 474.3 Thereafter 1,203.7 3,045.1 Unamortized debt premium 2.3 Unamortized loan fees (18.3) Total Mortgage Debt $ 3,029.1 As of March 31, 2022, the Company was in compliance with all financial mortgage debt covenants.

KW Unsecured Debt

KW Unsecured Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
KW UNSECURED DEBT	KW UNSECURED DEBT The following table details KW unsecured debt as of March 31, 2022 and December 31, 2021: (Dollars in millions) March 31, 2022 December 31, 2021 Credit facility $ — $ 75.0 Senior notes (1) : 2029 Notes 601.9 601.9 2030 Notes 600.0 600.0 2031 Notes 601.9 602.0 KW unsecured debt 1,803.8 1,878.9 Unamortized loan fees (25.7) (26.6) Total KW Unsecured Debt $ 1,778.1 $ 1,852.3 (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 (discount) as of March 31, 2022 and December 31, 2021 was $3.8 million and $3.9 million, respectively. Borrowings Under Credit Facilities On March 25, 2020, the Company extended its $500 million revolving line of credit (the "Second A&R Facility"). 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 in that certain 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 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 March 31, 2022, the Company was in compliance with these covenants. As of March 31, 2022, the Second A&R Facility was undrawn with $500.0 million available to be drawn. The average outstanding borrowings under the Second A&R Facility was $153.1 million during the three months ended March 31, 2022. 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"). 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 and 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. The indentures governing the 2031 notes, 2030 notes, and 2029 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 2031 notes, 2030 notes, and 2029 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 March 31, 2022, the maximum balance sheet leverage ratio was 0.97 to 1.00. See Note 14 for the guarantor and non-guarantor financial statements. As of March 31, 2022, the Company was in compliance with all financial covenants. The following table details KWE unsecured bonds as of March 31, 2022 and December 31, 2021: (Dollars in millions) March 31, 2022 December 31, 2021 KWE Euro Medium Term Note Programme (1) 607.6 624.1 Unamortized loan fees (1.2) (1.3) Total KWE Unsecured Bonds $ 606.4 $ 622.8 (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 discount as of March 31, 2022 and December 31, 2021 was $1.9 million and $2.1 million, respectively. As of March 31, 2022, KWE had senior unsecured notes for an aggregate principal amount of approximately $609.5 million (based on March 31, 2022 rates) (€550 million) (the "KWE Notes"). The KWE Notes were issued at a discount and have a carrying value of $607.6 million, with an annual fixed coupon of 3.25% and mature in 2025. As KWE invested proceeds from the KWE Notes to fund equity investments in euro denominated assets, KWE designated 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 loss. During the three months ended March 31, 2022, Kennedy Wilson recognized a loss of $1.3 million in other comprehensive income due to the strengthening of the euro against the GBP during the period. The trust deed that governs the bonds contains various restrictive covenants for KWE, including, among others, limitations on KWE’s and its material subsidiaries’ ability to provide certain negative pledges. The trust deed limits the ability of KWE and its subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the incurrence of the new indebtedness, (1) KWE’s consolidated net indebtedness (as defined in the trust deed) would exceed 60% of KWE’s total assets (as calculated pursuant to the terms of the trust deed); and (2) KWE’s consolidated secured indebtedness (as defined in the trust deed) would exceed 50% of KWE’s total assets (as calculated pursuant to the terms of the trust deed). The trust deed also requires KWE, as of each reporting date, to maintain an interest coverage ratio (as defined in the trust deed) of at least 1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed). As of March 31, 2022, KWE was in compliance with these covenants.

KWE Unsecured Bonds

KWE Unsecured Bonds	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
KWE UNSECURED BONDS	KW UNSECURED DEBT The following table details KW unsecured debt as of March 31, 2022 and December 31, 2021: (Dollars in millions) March 31, 2022 December 31, 2021 Credit facility $ — $ 75.0 Senior notes (1) : 2029 Notes 601.9 601.9 2030 Notes 600.0 600.0 2031 Notes 601.9 602.0 KW unsecured debt 1,803.8 1,878.9 Unamortized loan fees (25.7) (26.6) Total KW Unsecured Debt $ 1,778.1 $ 1,852.3 (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 (discount) as of March 31, 2022 and December 31, 2021 was $3.8 million and $3.9 million, respectively. Borrowings Under Credit Facilities On March 25, 2020, the Company extended its $500 million revolving line of credit (the "Second A&R Facility"). 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 in that certain 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 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 March 31, 2022, the Company was in compliance with these covenants. As of March 31, 2022, the Second A&R Facility was undrawn with $500.0 million available to be drawn. The average outstanding borrowings under the Second A&R Facility was $153.1 million during the three months ended March 31, 2022. 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"). 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 and 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. The indentures governing the 2031 notes, 2030 notes, and 2029 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 2031 notes, 2030 notes, and 2029 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 March 31, 2022, the maximum balance sheet leverage ratio was 0.97 to 1.00. See Note 14 for the guarantor and non-guarantor financial statements. As of March 31, 2022, the Company was in compliance with all financial covenants. The following table details KWE unsecured bonds as of March 31, 2022 and December 31, 2021: (Dollars in millions) March 31, 2022 December 31, 2021 KWE Euro Medium Term Note Programme (1) 607.6 624.1 Unamortized loan fees (1.2) (1.3) Total KWE Unsecured Bonds $ 606.4 $ 622.8 (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 discount as of March 31, 2022 and December 31, 2021 was $1.9 million and $2.1 million, respectively. As of March 31, 2022, KWE had senior unsecured notes for an aggregate principal amount of approximately $609.5 million (based on March 31, 2022 rates) (€550 million) (the "KWE Notes"). The KWE Notes were issued at a discount and have a carrying value of $607.6 million, with an annual fixed coupon of 3.25% and mature in 2025. As KWE invested proceeds from the KWE Notes to fund equity investments in euro denominated assets, KWE designated 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 loss. During the three months ended March 31, 2022, Kennedy Wilson recognized a loss of $1.3 million in other comprehensive income due to the strengthening of the euro against the GBP during the period. The trust deed that governs the bonds contains various restrictive covenants for KWE, including, among others, limitations on KWE’s and its material subsidiaries’ ability to provide certain negative pledges. The trust deed limits the ability of KWE and its subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the incurrence of the new indebtedness, (1) KWE’s consolidated net indebtedness (as defined in the trust deed) would exceed 60% of KWE’s total assets (as calculated pursuant to the terms of the trust deed); and (2) KWE’s consolidated secured indebtedness (as defined in the trust deed) would exceed 50% of KWE’s total assets (as calculated pursuant to the terms of the trust deed). The trust deed also requires KWE, as of each reporting date, to maintain an interest coverage ratio (as defined in the trust deed) of at least 1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed). As of March 31, 2022, KWE was in compliance with these covenants.

Equity

Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
EQUITY	EQUITY Preferred Stock On March 8, 2022, the Company announced the issuance of $300 million perpetual preferred equity of the Company's preferred stock (the "Series B Preferred Stock") to affiliates of Fairfax Financial Holdings Limited (collectively, "Fairfax"). Under the terms of the agreement, Fairfax purchased $300 million in convertible perpetual preferred stock carrying a 4.75% annual dividend rate and 7-year warrants for approximately 13.0 million common shares with an initial conversion price of $23.00 per share. The preferred stock is callable by Kennedy Wilson at any time. The cumulative perpetual preferred stock is presented as permanent equity. Dividend Distributions Kennedy Wilson declared and paid the following cash distributions on its preferred and common stock: Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 (Dollars in millions) Declared Paid Declared Paid Preferred Stock $ 5.3 $ 4.3 $ 4.3 $ 4.3 Common Stock (1) 32.8 36.1 31.0 32.6 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets. Share-based Compensation During the three months ended March 31, 2022 and 2021, Kennedy Wilson recognized $7.1 million and $7.7 million, respectively, of compensation expense related to the amortization of grant date fair values of restricted stock grants. Common Stock Repurchase Program On November 4, 2020, the Company's board of directors authorized an expansion of its existing $250.0 million share repurchase plan to $500 million. 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. During the three months ended March 31, 2022, Kennedy Wilson repurchased and retired 589,317 shares on the open market for $12.5 million under the stock repurchase program. During the three months ended March 31, 2021, Kennedy Wilson repurchased and retired 10,281 shares on the open market for $0.2 million under the previous stock repurchase program. Generally, upon vesting, the restricted stock granted to employees is net share-settled such that the Company will withhold shares with value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes, and remit the cash to the appropriate taxing authorities. The restricted shares that vested during the three months ended March 31, 2022 and 2021 were net-share settled. The total shares withheld during the three months ended March 31, 2022 and 2021 were 796,755 shares and 658,293 shares, respectively. During the three months ended March 31, 2022 and 2021, total payments for the employees’ tax obligations to the taxing authorities for the shares which were net-share settled were $18.6 million and $14.1 million, respectively. These activities are reflected as a financing activity within Kennedy Wilson's consolidated statements of cash flows. Accumulated Other Comprehensive Loss The following table summarizes the changes in each component of accumulated other comprehensive loss, net of taxes: (Dollars in millions) Foreign Currency Translation Currency Derivative Contracts Interest Rate Swaps Total Accumulated Other Comprehensive Loss (1) Balance at December 31, 2021 $ (88.2) $ 58.6 $ (1.6) $ (31.2) Unrealized (losses) gains, arising during the period (28.5) 11.2 4.0 (13.3) Noncontrolling interests 0.7 — — 0.7 Deferred taxes on unrealized losses (gains), arising during the period 0.5 (2.9) (1.0) (3.4) Balance at March 31, 2022 $ (115.5) $ 66.9 $ 1.4 $ (47.2) (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

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
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 (loss) per share for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (Dollars in millions, except share and per share amounts) 2022 2021 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 34.8 $ (5.6) Weighted average shares outstanding for basic 136,815,290 138,772,819 Basic earnings (loss) per basic share $ 0.25 $ (0.04) Weighted average shares outstanding for diluted (1) 150,420,132 138,772,819 Diluted earnings (loss) per diluted share $ 0.24 $ (0.04)

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
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, which aligns with how the business is being run and evaluated by the chief operating decision makers. 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 5-50% 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 the Company's auction group. 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. The following tables summarize income activity by segment and corporate for the three months ended March 31, 2022 and 2021 and balance sheet data as of March 31, 2022 and December 31, 2021: Three Months Ended March 31, 2022 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 104.2 $ — $ — $ 104.2 Hotel 6.5 — — 6.5 Investment management fees — 11.3 — 11.3 Property services fees — — 0.4 0.4 Loans and other — 2.3 — 2.3 Total revenue 110.7 13.6 0.4 124.7 Income from unconsolidated investments Principal co-investments — 78.2 — 78.2 Performance allocations — 27.2 — 27.2 Total income from unconsolidated investments — 105.4 — 105.4 Gain on sale of real estate, net 1.9 — — 1.9 Expenses Rental 35.7 — — 35.7 Hotel 4.3 — — 4.3 Compensation and related 8.2 14.4 6.4 29.0 Share-based compensation — — 7.1 7.1 Performance allocation compensation — 11.8 — 11.8 General and administrative 2.5 3.7 1.7 7.9 Depreciation and amortization 43.3 — — 43.3 Total expenses 94.0 29.9 15.2 139.1 Interest expense (29.0) — (21.5) (50.5) Other loss 3.1 — 2.7 5.8 Provision for income taxes (1.9) — (6.3) (8.2) Net (loss) income (9.2) 89.1 (39.9) 40.0 Net loss attributable to noncontrolling interests 0.1 — — 0.1 Preferred dividends and accretion of preferred stock issuance costs — — (5.3) (5.3) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (9.1) $ 89.1 $ (45.2) $ 34.8 Three Months Ended March 31, 2021 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 88.9 $ — $ — $ 88.9 Hotel 0.8 — — 0.8 Investment management fees — 7.4 — 7.4 Property services fees — — 0.7 0.7 Loans and other — 1.6 — 1.6 Total revenue 89.7 9.0 0.7 99.4 Income from unconsolidated investments Principal co-investments — 18.8 — 18.8 Performance allocations — (0.4) — (0.4) Total income from unconsolidated investments — 18.4 — 18.4 Gain on sale of real estate, net 73.5 — — 73.5 Expenses Rental 33.0 — — 33.0 Hotel 1.6 — — 1.6 Compensation and related 15.1 5.7 6.2 27.0 Share-based compensation — — 7.7 7.7 Performance allocation compensation — — — — General and administrative 4.3 1.3 1.2 6.8 Depreciation and amortization 44.4 — — 44.4 Total expenses 98.4 7.0 15.1 120.5 Interest expense (32.1) — (19.5) (51.6) Loss on early extinguishment of debt — — (14.8) (14.8) Other loss (2.3) — (1.0) (3.3) (Provision for) benefit from income taxes (3.9) — 1.2 (2.7) Net income (loss) 26.5 20.4 (48.5) (1.6) Net loss attributable to noncontrolling interests 0.3 — — 0.3 Preferred dividends and accretion of preferred stock issuance costs — — (4.3) (4.3) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 26.8 $ 20.4 $ (52.8) $ (5.6) (Dollars in millions) March 31, 2022 December 31, 2021 Total assets Consolidated $ 5,458.7 $ 5,473.9 Co-investment 2,310.4 2,077.9 Corporate 298.7 324.7 Total assets $ 8,067.8 $ 7,876.5

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company derives a significant portion of its income from the rental and sale of real property. As a result, a substantial portion of its foreign earnings is subject to U.S. taxation under certain provisions of the Internal Revenue Code of 1986, as amended, applicable to controlled foreign corporations ("Subpart F"). In determining the quarterly provisions for income taxes, the Company calculates income tax expense based on actual year-to-date income and statutory tax rates. The year-to-date income tax expense reflects the impact of foreign operations and income allocated to noncontrolling interests which is generally not subject to corporate tax. During the three months ended March 31, 2022, Kennedy Wilson generated pretax book income of $48.2 million related to its global operations and recorded a tax expense of $8.2 million. The tax expense for the period is below the US statutory tax rate. Significant items impacting the quarterly tax provision include: tax charges associated with non-deductible executive compensation under IRC section 162(m) and tax benefits from the partial release of valuation allowances against deferred tax assets associated with the Company's excess tax basis in the KWE investment and UK real estate assets. During the quarter, the deferred tax asset (and associated valuation allowance) related to the Company's investment in KWE decreased as a result of fair value gains realized by KWE on unconsolidated investments which were not subject to tax. In addition, the Company's net deferred tax assets (and associated valuation allowance) related to the Company's excess tax basis in legacy UK real estate assets decreased due to deferred tax liabilities assumed in connection with the acquisition of Waverly Gate as such deferred tax liabilities provided a source of future taxable income to partially support the realization of the Company's legacy UK excess tax basis deferred tax assets.

Guarantor and Non-Guarantor Fin

Guarantor and Non-Guarantor Financial Statements	3 Months Ended
	Mar. 31, 2022
Guarantor and Nonguarantor Financial Statements [Abstract]
GUARANTOR AND NON-GARANTOR FINANCIAL STATEMENTS	GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS The following consolidating financial information and condensed consolidating financial information include: (1) Condensed consolidating balance sheets as of March 31, 2022 and December 31, 2021 and consolidating statements of operations for the three months ended March 31, 2022 of (a) Kennedy-Wilson Holdings, Inc., as the parent, (b) Kennedy-Wilson, Inc., as the subsidiary issuer, (c) the guarantor subsidiaries, (d) the non-guarantor subsidiaries and (e) Kennedy-Wilson Holdings, Inc. on a consolidated basis; and (2) Elimination entries necessary to consolidate Kennedy-Wilson Holdings, Inc., as the parent, with Kennedy-Wilson, Inc. and its guarantor and non-guarantor subsidiaries. Kennedy Wilson owns 100% of all of the guarantor subsidiaries, and, as a result, in accordance with Rule 3-10(d) of Regulation S-X promulgated by the SEC, no separate financial statements are required for these subsidiaries as of and for the three months ended March 31, 2022 or 2021. Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 71.7 $ 69.9 $ 320.5 $ — $ 462.1 Accounts receivable — — 18.6 20.5 — 39.1 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,722.9 3,344.5 — 5,067.4 Unconsolidated investments — 16.8 634.3 1,515.8 — 2,166.9 Investments in and advances to consolidated subsidiaries 2,079.5 4,000.6 2,614.9 — (8,695.0) — Other assets — 76.0 48.1 64.7 — 188.8 Loan purchases and originations — 5.9 74.9 62.7 — 143.5 Total assets $ 2,079.5 $ 4,171.0 $ 5,183.6 $ 5,328.7 $ (8,695.0) $ 8,067.8 Liabilities and equity Liabilities Accounts payable $ — $ 0.6 $ 2.2 $ 13.1 $ — $ 15.9 Accrued expenses and other liabilities 42.0 312.8 85.8 134.5 — 575.1 Mortgage debt — — 1,095.0 1,934.1 — 3,029.1 KW unsecured debt — 1,778.1 — — — 1,778.1 KWE unsecured bonds — — — 606.4 — 606.4 Total liabilities 42.0 2,091.5 1,183.0 2,688.1 — 6,004.6 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 2,037.5 2,079.5 4,000.6 2,614.9 (8,695.0) 2,037.5 Noncontrolling interests — — — 25.7 — 25.7 Total equity 2,037.5 2,079.5 4,000.6 2,640.6 (8,695.0) 2,063.2 Total liabilities and equity $ 2,079.5 $ 4,171.0 $ 5,183.6 $ 5,328.7 $ (8,695.0) $ 8,067.8 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 — — 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 expense 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 Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue — — 53.8 70.9 — 124.7 Total income from unconsolidated subsidiaries — 2.0 8.5 94.9 — 105.4 Gain on sale of real estate, net — — — 1.9 — 1.9 Total expenses 7.1 22.5 52.8 56.7 — 139.1 Income from consolidated subsidiaries 47.1 92.8 96.0 — (235.9) — Interest expense — (21.7) (9.7) (19.1) — (50.5) Other income (loss) — 2.8 (0.3) 3.3 — 5.8 (Loss) income before benefit from (provision for) income taxes 40.0 53.4 95.5 95.2 (235.9) 48.2 Benefit from (provision for) income taxes — (6.3) (2.7) 0.8 — (8.2) Net (loss) income 40.0 47.1 92.8 96.0 (235.9) 40.0 Net loss attributable to the noncontrolling interests — — — 0.1 — 0.1 Preferred dividends (5.3) — — — — (5.3) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 34.7 $ 47.1 $ 92.8 $ 96.1 $ (235.9) $ 34.8 Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue — 0.1 51.9 47.4 — 99.4 Total income from unconsolidated investments — 2.9 4.2 11.3 — 18.4 Gain on sale of real estate, net — — — 73.5 — 73.5 Total expenses 8.5 19.5 46.8 45.7 — 120.5 Income from consolidated subsidiaries 6.9 57.2 60.1 — (124.2) — Interest expense — (19.5) (11.5) (20.6) — (51.6) Loss on early extinguishment of debt — (14.8) — — — (14.8) Other loss — (0.7) (0.3) (2.3) — (3.3) (Loss) income before provision for income taxes (1.6) 5.7 57.6 63.6 (124.2) 1.1 Benefit from (provision for) income taxes — 1.2 (0.4) (3.5) — (2.7) Net (loss) income (1.6) 6.9 57.2 60.1 (124.2) (1.6) Net loss attributable to the noncontrolling interests — — — 0.3 — 0.3 Preferred dividends (4.3) — — — — (4.3) Net (loss )income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (5.9) $ 6.9 $ 57.2 $ 60.4 $ (124.2) $ (5.6)

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On April 22, 2022 the Company drew $250.0 million on its credit facility. Subsequent to March 31, 2022, the Company acquired three mountain west multifamily properties for $418 million (excluding closing costs) in three separate off-market transactions. The Company invested $255 million of total equity in the three properties.

Summary of Significant Accoun_2

Summary of Significant Accounting Polices and Adoption of New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
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 . Hotel income is earned when rooms are occupied or goods and services have been delivered or rendered. Sales of real estate are recognized when title to the real property passes to the buyer and there is no continuing involvement in the real property. Management fees are primarily comprised of investment management and property services fees. Investment management fees are earned from limited partners of funds, co-investments, or separate accounts and are generally based on a fixed percentage of committed capital or net asset value. Property services fees are earned from the Company's auction sales and marketing business. The Company provides investment management 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 consist of acquisition and disposition fees and auction fees. 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. 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. Acquisition fees and expenses associated with the acquisition of properties determined to be business combinations are expensed as incurred. Acquisition fees and expenses associated with transactions determined to be asset acquisitions are capitalized as part of the real estate acquired.    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 or real estate related investments. 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, contributions, distributions and foreign currency movements. 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 51 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 commingled funds it manages and sponsors (the "Funds") that are investment companies under 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 March 31, 2022, the Company has $196.9 million of accrued performance allocations recorded to unconsolidated investments that are subject to future adjustments based on the underlying performance of investments. 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 Measuremen t.
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.
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.
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 loss. 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 currency fluctuations, Kennedy Wilson entered into currency derivative contracts to manage its exposure to currency fluctuations between its functional currency (U.S. dollar) and the functional currency (euro and the British pound) of certain of its wholly-owned and consolidated subsidiaries. KWE has also entered into currency derivative contracts to manage its exposure to euro to British pound currency fluctuations. See Note 5 for a more detailed discussion of Kennedy Wilson's currency derivative contracts.
LONG-LIVED ASSETS	LONG-LIVED ASSETS — Kennedy Wilson reviews its long-lived assets (excluding goodwill) whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with ASC Subtopic 360-10, Impairment of Long-Lived Assets
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS For information regarding accounting standards that the Company adopted during the periods presented, see note 2 of the notes to the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2021. The Company did not adopt any new accounting standards during the three months ended March 31, 2022. The FASB did not issue any other ASUs during the first three months of 2022 that the Company expects to be applicable and have a material impact on the Company's financial position or results of operations.
SEGMENT	The Company evaluates its reportable segments in accordance with the guidance of ASC Topic 280, Segment Reporting, which aligns with how the business is being run and evaluated by the chief operating decision makers.
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 In-Place Leas_2

Real Estate and In-Place Lease Value (Tables)	3 Months Ended
	Mar. 31, 2022
Real Estate [Abstract]
Schedule of Investment in Consolidated Real Estate Properties	The following table summarizes Kennedy Wilson's investment in consolidated real estate properties at March 31, 2022 and December 31, 2021: March 31, December 31, (Dollars in millions) 2022 2021 Land $ 1,286.5 $ 1,277.6 Buildings 3,806.6 3,744.1 Building improvements 499.3 545.6 In-place lease values 329.5 330.6 5,921.9 5,897.9 Less accumulated depreciation and amortization (854.5) (838.1) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,067.4 $ 5,059.8
Schedule of Business Acquisitions	During the three months ended March 31, 2022, 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 Net Purchase Price United Kingdom Office building 25.5 74.1 6.9 — 106.5 $ 25.5 $ 74.1 $ 6.9 $ — $ 106.5 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets, net and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets.
Lessor, Operating Lease, Payments to be Received, Maturity	The following table summarizes the minimum lease payments due from the Company's tenants on leases with lease periods greater than one year at March 31, 2022: (Dollars in millions) Minimum Rental Revenues (1) 2022 (remainder) $ 161.0 2023 151.3 2024 127.8 2025 107.4 2026 88.0 Thereafter 274.9 Total $ 910.4 (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)	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Joint Ventures by Location and Investment Type	The following table details Kennedy Wilson's investments in joint ventures by investment type and geographic location as of March 31, 2022: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 741.0 $ 79.8 $ 148.5 $ 183.8 $ 187.2 $ 1,340.3 Ireland 399.1 145.7 — 4.2 — 549.0 United Kingdom — 190.6 — 55.8 31.2 277.6 Total $ 1,140.1 $ 416.1 $ 148.5 $ 243.8 $ 218.4 $ 2,166.9 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
Schedule of Joint Venture Cash Distributions by Investment Type and Geographic Location	The following table details cash distributions by investment type and geographic location for the three months ended March 31, 2022: Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 6.9 $ 2.3 $ 2.6 $ — $ 4.1 $ 4.4 $ — $ 13.6 $ 6.7 Ireland 2.0 — 2.3 — — — — — 4.3 — United Kingdom — — — — — — 0.1 0.5 0.1 0.5 Total $ 8.9 $ 2.3 $ 4.9 $ — $ 4.1 $ 4.4 $ 0.1 $ 0.5 $ 18.0 $ 7.2
Schedule of Income (Loss) from Unconsolidated Investments	The following table presents income from unconsolidated investments recognized by Kennedy Wilson during the three and three months ended March 31, 2022 and 2021: Three Months Ended March 31, (Dollars in millions) 2022 2021 Income from unconsolidated investments - operating performance $ 21.6 $ 13.5 Income from unconsolidated investments - fair value 56.6 5.3 Income from unconsolidated investments - performance allocations 27.2 (0.4) $ 105.4 $ 18.4

Fair Value Measurements and t_2

Fair Value Measurements and the Fair Value Option (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of March 31, 2022: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 2,012.5 $ 2,012.5 Net currency derivative contracts — 19.4 — 19.4 Total $ — $ 19.4 $ 2,012.5 $ 2,031.9 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
Schedule of Changes in Level 3 Investments	The following table presents changes in Level 3 investments in Funds and FV Options for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (Dollars in millions) 2022 2021 Beginning balance $ 1,794.8 $ 1,136.5 Unrealized and realized gains 115.7 25.5 Unrealized and realized losses (16.3) (9.5) Contributions 147.9 52.2 Distributions (20.4) (35.4) Foreign Exchange (9.7) (13.0) Other 0.5 1.5 Ending Balance $ 2,012.5 $ 1,157.8
Schedule of the Funds and Fair Value Option Investments, Significant Inputs	The table below describes the range of unobservable inputs for real estate assets as of March 31, 2022: Estimated Rates Used for Capitalization Rates Discount Rates Multifamily Income approach - discounted cash flow 5.00% —7.00% 7.30% — 9.30% Income approach - direct capitalization 3.20% — 4.90% N/A Office Income approach - discounted cash flow 5.20% — 7.80% 6.80% — 9.00% Income approach - direct capitalization 3.90% — 7.90% N/A Industrial Income approach - discounted cash flow 4.80% — 6.30% 6.00% — 7.50% Income approach - direct capitalization 3.10% — 6.10% N/A Retail Income approach - discounted cash flow 6.50% 8.30% Hotel Income approach - discounted cash flow 6.00% 8.30% Residential Income approach - discounted cash flow N/A N/A
Schedule of Currency Forward Contracts	The table below details the currency derivative contracts Kennedy Wilson held as of March 31, 2022 and the activity during the three months ended March 31, 2022. (Dollars, Euros and British Pound Sterling in millions) March 31, 2022 Three Months Ended March 31, 2022 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability OCI Gains (Losses) Income Statement Gains Interest Expense Cash Paid Outstanding EUR USD € 262.5 $ 10.9 $ 4.0 $ 0.1 $ 2.1 $ 1.0 $ — EUR (1) GBP € 40.0 — — — — — — EUR (1)(2) GBP € 550.0 — — (1.3) — — — GBP USD £ 535.0 15.8 3.4 9.7 — 1.0 — Total Outstanding 26.7 7.4 8.5 2.1 2.0 — Settled GBP USD £ 100.0 — — 2.7 — 0.1 5.8 Total Settled — — 2.7 — 0.1 5.8 Total $ 26.7 $ 7.4 $ 11.2 (3) $ 2.1 $ 2.1 $ 5.8 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 9. (3) Excludes deferred tax benefit of $2.9 million.

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: (Dollars in millions) March 31, 2022 December 31, 2021 Straight line rent receivable $ 41.6 $ 44.3 Hedge assets 26.7 24.5 Goodwill 23.9 23.9 Interest rate caps and swaps 17.3 2.3 Furniture and equipment net of accumulated depreciation of $27.4 and $27.4 at March 31, 2022 and December 31, 2021, respectively 16.4 17.6 Other 15.6 13.0 Prepaid expenses 12.6 13.3 Deferred taxes, net 10.3 12.6 Right of use asset, net 9.4 10.0 Leasing commissions, net of accumulated amortization of $10.1 and $9.7 at March 31, 2022 and December 31, 2021, respectively 7.9 8.0 Above-market leases, net of accumulated amortization of $58.9 and $60.4 at March 31, 2022 and December 31, 2021, respectively 7.1 8.4 Other Assets $ 188.8 $ 177.9
Schedule of Future Minimum Rental Payments for Operating Leases	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 (remainder) $ 1.1 2023 0.8 2024 0.5 2025 0.3 2026 0.2 Thereafter 31.0 Total undiscounted rental payments 33.9 Less imputed interest (24.5) Total lease liabilities $ 9.4

Mortgage Debt (Tables)

Mortgage Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Mortgage Loans Payable	The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of March 31, 2022 and December 31, 2021: (Dollars in millions) Carrying amount of mortgage debt as of (1) Mortgage Debt by Product Type Region March 31, 2022 December 31, 2021 Multifamily (1) Western U.S. $ 1,495.5 $ 1,493.1 Commercial (1) United Kingdom 760.1 683.8 Commercial (1) Ireland 322.2 327.3 Commercial Western U.S. 350.5 351.0 Commercial Spain 39.3 40.4 Hotel Ireland 79.8 82.0 Mortgage debt (excluding loan fees) (1) 3,047.4 2,977.6 Unamortized loan fees (18.3) (17.8) Total Mortgage Debt $ 3,029.1 $ 2,959.8 (1) The mortgage debt 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 as a reduction of interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan premium as of March 31, 2022 and December 31, 2021 was $2.3 million and $2.5 million, respectively.
Schedule of Maturities of Mortgage Loans and Notes Payable	The aggregate maturities of mortgage loans as of March 31, 2022 are as follows: (Dollars in millions) Aggregate Maturities 2022 (remainder) $ 16.0 2023 365.6 2024 508.5 2025 477.0 2026 474.3 Thereafter 1,203.7 3,045.1 Unamortized debt premium 2.3 Unamortized loan fees (18.3) Total Mortgage Debt $ 3,029.1

KW Unsecured Debt (Tables)

KW Unsecured Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt KW Unsecured Debt	The following table details KW unsecured debt as of March 31, 2022 and December 31, 2021: (Dollars in millions) March 31, 2022 December 31, 2021 Credit facility $ — $ 75.0 Senior notes (1) : 2029 Notes 601.9 601.9 2030 Notes 600.0 600.0 2031 Notes 601.9 602.0 KW unsecured debt 1,803.8 1,878.9 Unamortized loan fees (25.7) (26.6) Total KW Unsecured Debt $ 1,778.1 $ 1,852.3 (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 (discount) as of March 31, 2022 and December 31, 2021 was $3.8 million and $3.9 million, respectively. (Dollars in millions) March 31, 2022 December 31, 2021 KWE Euro Medium Term Note Programme (1) 607.6 624.1 Unamortized loan fees (1.2) (1.3) Total KWE Unsecured Bonds $ 606.4 $ 622.8 (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 discount as of March 31, 2022 and December 31, 2021 was $1.9 million and $2.1 million, respectively.

KWE Unsecured Bonds (Tables)

KWE Unsecured Bonds (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of KWE Bonds	The following table details KW unsecured debt as of March 31, 2022 and December 31, 2021: (Dollars in millions) March 31, 2022 December 31, 2021 Credit facility $ — $ 75.0 Senior notes (1) : 2029 Notes 601.9 601.9 2030 Notes 600.0 600.0 2031 Notes 601.9 602.0 KW unsecured debt 1,803.8 1,878.9 Unamortized loan fees (25.7) (26.6) Total KW Unsecured Debt $ 1,778.1 $ 1,852.3 (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 (discount) as of March 31, 2022 and December 31, 2021 was $3.8 million and $3.9 million, respectively. (Dollars in millions) March 31, 2022 December 31, 2021 KWE Euro Medium Term Note Programme (1) 607.6 624.1 Unamortized loan fees (1.2) (1.3) Total KWE Unsecured Bonds $ 606.4 $ 622.8 (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 discount as of March 31, 2022 and December 31, 2021 was $1.9 million and $2.1 million, respectively.

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Dividends Declared and Paid	Kennedy Wilson declared and paid the following cash distributions on its preferred and common stock: Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 (Dollars in millions) Declared Paid Declared Paid Preferred Stock $ 5.3 $ 4.3 $ 4.3 $ 4.3 Common Stock (1) 32.8 36.1 31.0 32.6 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets.
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in each component of accumulated other comprehensive loss, net of taxes: (Dollars in millions) Foreign Currency Translation Currency Derivative Contracts Interest Rate Swaps Total Accumulated Other Comprehensive Loss (1) Balance at December 31, 2021 $ (88.2) $ 58.6 $ (1.6) $ (31.2) Unrealized (losses) gains, arising during the period (28.5) 11.2 4.0 (13.3) Noncontrolling interests 0.7 — — 0.7 Deferred taxes on unrealized losses (gains), arising during the period 0.5 (2.9) (1.0) (3.4) Balance at March 31, 2022 $ (115.5) $ 66.9 $ 1.4 $ (47.2) (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)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a summary of the elements used in calculating basic and diluted income (loss) per share for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (Dollars in millions, except share and per share amounts) 2022 2021 Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 34.8 $ (5.6) Weighted average shares outstanding for basic 136,815,290 138,772,819 Basic earnings (loss) per basic share $ 0.25 $ (0.04) Weighted average shares outstanding for diluted (1) 150,420,132 138,772,819 Diluted earnings (loss) per diluted share $ 0.24 $ (0.04)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize income activity by segment and corporate for the three months ended March 31, 2022 and 2021 and balance sheet data as of March 31, 2022 and December 31, 2021: Three Months Ended March 31, 2022 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 104.2 $ — $ — $ 104.2 Hotel 6.5 — — 6.5 Investment management fees — 11.3 — 11.3 Property services fees — — 0.4 0.4 Loans and other — 2.3 — 2.3 Total revenue 110.7 13.6 0.4 124.7 Income from unconsolidated investments Principal co-investments — 78.2 — 78.2 Performance allocations — 27.2 — 27.2 Total income from unconsolidated investments — 105.4 — 105.4 Gain on sale of real estate, net 1.9 — — 1.9 Expenses Rental 35.7 — — 35.7 Hotel 4.3 — — 4.3 Compensation and related 8.2 14.4 6.4 29.0 Share-based compensation — — 7.1 7.1 Performance allocation compensation — 11.8 — 11.8 General and administrative 2.5 3.7 1.7 7.9 Depreciation and amortization 43.3 — — 43.3 Total expenses 94.0 29.9 15.2 139.1 Interest expense (29.0) — (21.5) (50.5) Other loss 3.1 — 2.7 5.8 Provision for income taxes (1.9) — (6.3) (8.2) Net (loss) income (9.2) 89.1 (39.9) 40.0 Net loss attributable to noncontrolling interests 0.1 — — 0.1 Preferred dividends and accretion of preferred stock issuance costs — — (5.3) (5.3) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (9.1) $ 89.1 $ (45.2) $ 34.8 Three Months Ended March 31, 2021 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 88.9 $ — $ — $ 88.9 Hotel 0.8 — — 0.8 Investment management fees — 7.4 — 7.4 Property services fees — — 0.7 0.7 Loans and other — 1.6 — 1.6 Total revenue 89.7 9.0 0.7 99.4 Income from unconsolidated investments Principal co-investments — 18.8 — 18.8 Performance allocations — (0.4) — (0.4) Total income from unconsolidated investments — 18.4 — 18.4 Gain on sale of real estate, net 73.5 — — 73.5 Expenses Rental 33.0 — — 33.0 Hotel 1.6 — — 1.6 Compensation and related 15.1 5.7 6.2 27.0 Share-based compensation — — 7.7 7.7 Performance allocation compensation — — — — General and administrative 4.3 1.3 1.2 6.8 Depreciation and amortization 44.4 — — 44.4 Total expenses 98.4 7.0 15.1 120.5 Interest expense (32.1) — (19.5) (51.6) Loss on early extinguishment of debt — — (14.8) (14.8) Other loss (2.3) — (1.0) (3.3) (Provision for) benefit from income taxes (3.9) — 1.2 (2.7) Net income (loss) 26.5 20.4 (48.5) (1.6) Net loss attributable to noncontrolling interests 0.3 — — 0.3 Preferred dividends and accretion of preferred stock issuance costs — — (4.3) (4.3) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 26.8 $ 20.4 $ (52.8) $ (5.6) (Dollars in millions) March 31, 2022 December 31, 2021 Total assets Consolidated $ 5,458.7 $ 5,473.9 Co-investment 2,310.4 2,077.9 Corporate 298.7 324.7 Total assets $ 8,067.8 $ 7,876.5

Guarantor and Non-Guarantor F_2

Guarantor and Non-Guarantor Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2022
Guarantor and Nonguarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 71.7 $ 69.9 $ 320.5 $ — $ 462.1 Accounts receivable — — 18.6 20.5 — 39.1 Real estate and acquired in place lease values, net of accumulated depreciation and amortization — — 1,722.9 3,344.5 — 5,067.4 Unconsolidated investments — 16.8 634.3 1,515.8 — 2,166.9 Investments in and advances to consolidated subsidiaries 2,079.5 4,000.6 2,614.9 — (8,695.0) — Other assets — 76.0 48.1 64.7 — 188.8 Loan purchases and originations — 5.9 74.9 62.7 — 143.5 Total assets $ 2,079.5 $ 4,171.0 $ 5,183.6 $ 5,328.7 $ (8,695.0) $ 8,067.8 Liabilities and equity Liabilities Accounts payable $ — $ 0.6 $ 2.2 $ 13.1 $ — $ 15.9 Accrued expenses and other liabilities 42.0 312.8 85.8 134.5 — 575.1 Mortgage debt — — 1,095.0 1,934.1 — 3,029.1 KW unsecured debt — 1,778.1 — — — 1,778.1 KWE unsecured bonds — — — 606.4 — 606.4 Total liabilities 42.0 2,091.5 1,183.0 2,688.1 — 6,004.6 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 2,037.5 2,079.5 4,000.6 2,614.9 (8,695.0) 2,037.5 Noncontrolling interests — — — 25.7 — 25.7 Total equity 2,037.5 2,079.5 4,000.6 2,640.6 (8,695.0) 2,063.2 Total liabilities and equity $ 2,079.5 $ 4,171.0 $ 5,183.6 $ 5,328.7 $ (8,695.0) $ 8,067.8 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 — — 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 expense 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
Consolidating Statement of Operations	Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue — — 53.8 70.9 — 124.7 Total income from unconsolidated subsidiaries — 2.0 8.5 94.9 — 105.4 Gain on sale of real estate, net — — — 1.9 — 1.9 Total expenses 7.1 22.5 52.8 56.7 — 139.1 Income from consolidated subsidiaries 47.1 92.8 96.0 — (235.9) — Interest expense — (21.7) (9.7) (19.1) — (50.5) Other income (loss) — 2.8 (0.3) 3.3 — 5.8 (Loss) income before benefit from (provision for) income taxes 40.0 53.4 95.5 95.2 (235.9) 48.2 Benefit from (provision for) income taxes — (6.3) (2.7) 0.8 — (8.2) Net (loss) income 40.0 47.1 92.8 96.0 (235.9) 40.0 Net loss attributable to the noncontrolling interests — — — 0.1 — 0.1 Preferred dividends (5.3) — — — — (5.3) Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 34.7 $ 47.1 $ 92.8 $ 96.1 $ (235.9) $ 34.8 Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue — 0.1 51.9 47.4 — 99.4 Total income from unconsolidated investments — 2.9 4.2 11.3 — 18.4 Gain on sale of real estate, net — — — 73.5 — 73.5 Total expenses 8.5 19.5 46.8 45.7 — 120.5 Income from consolidated subsidiaries 6.9 57.2 60.1 — (124.2) — Interest expense — (19.5) (11.5) (20.6) — (51.6) Loss on early extinguishment of debt — (14.8) — — — (14.8) Other loss — (0.7) (0.3) (2.3) — (3.3) (Loss) income before provision for income taxes (1.6) 5.7 57.6 63.6 (124.2) 1.1 Benefit from (provision for) income taxes — 1.2 (0.4) (3.5) — (2.7) Net (loss) income (1.6) 6.9 57.2 60.1 (124.2) (1.6) Net loss attributable to the noncontrolling interests — — — 0.3 — 0.3 Preferred dividends (4.3) — — — — (4.3) Net (loss )income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (5.9) $ 6.9 $ 57.2 $ 60.4 $ (124.2) $ (5.6)

Summary of Significant Accoun_3

Summary of Significant Accounting Polices and Adoption of New Accounting Pronouncements (Details) $ in Millions	Mar. 31, 2022USD ($)investment
Accounting Policies [Abstract]
Fair value, option, number of investments | investment	51
Accrued performance fees | $	$ 196.9

Real Estate and In-Place Leas_3

Real Estate and In-Place Lease Value - Schedule of Investments in Consolidated Properties (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Real Estate [Abstract]
Land	$ 1,286.5	$ 1,277.6
Buildings	3,806.6	3,744.1
Building improvements	499.3	545.6
In-place lease values	329.5	330.6
Real estate, gross	5,921.9	5,897.9
Less accumulated depreciation and amortization	(854.5)	(838.1)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	$ 5,067.4	$ 5,059.8

Real Estate and In-Place Leas_4

Real Estate and In-Place Lease Value - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Real Estate [Line Items]
Gain on sale of real estate, net	$ 1.9	$ 73.5
Leases, Acquired-in-Place
Real Estate [Line Items]
Acquired in-place lease estimated useful life (in years)	6 years 3 months 18 days
Building and Building Improvements | Maximum
Real Estate [Line Items]
Buildings and building improvements estimated lives	40 years

Real Estate and In-Place Leas_5

Real Estate and In-Place Lease Value - Schedule of Consolidated Acquisitions (Details) $ in Millions	Mar. 31, 2022USD ($)
Business Acquisition [Line Items]
Land	$ 25.5
Building	74.1
Acquired in-place lease values	6.9
Investment debt	0
Net Purchase Price	106.5
Western U.S.
Business Acquisition [Line Items]
Land
Building
Acquired in-place lease values
Investment debt
Net Purchase Price
United Kingdom
Business Acquisition [Line Items]
Land	25.5
Building	74.1
Acquired in-place lease values	6.9
Investment debt	0
Net Purchase Price	$ 106.5

Real Estate and In-Place Leas_6

Real Estate and In-Place Lease Value - Future Minimum Lease To Be Received (Details) $ in Millions	Mar. 31, 2022USD ($)
Real Estate [Abstract]
2022 (remainder)	$ 161
2023	151.3
2024	127.8
2025	107.4
2026	88
Thereafter	274.9
Total	$ 910.4

Unconsolidated Investments - Na

Unconsolidated Investments - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)fundjoint_ventureproperty	Dec. 31, 2021USD ($)
Schedule of Equity Method Investments [Line Items]
Payments to joint venture	$ 149.6
Proceeds from equity method investments	25.2
Interest income recognized	105.4
Income (loss) from unconsolidated investments, other	9.5
Fair value of unconsolidated investments	$ 2,012.5	$ 1,794.8
Number of joint ventures with unfulfilled capital commitments | joint_venture	8
Multifamily
Schedule of Equity Method Investments [Line Items]
Number of real estate properties sold | property	1
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments	$ 245.9
Equity Method Investments Closed-End Funds
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments	$ 27.7
Number of closed-end funds | fund	3
Vintage Housing Holdings
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 181.5	157.9
Recurring
Schedule of Equity Method Investments [Line Items]
Fair value of unconsolidated investments	$ 2,012.5	$ 1,794.8
Minimum
Schedule of Equity Method Investments [Line Items]
Ownership percentage (as a percent)	5.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage (as a percent)	50.00%

Unconsolidated Investments - Sc

Unconsolidated Investments - Schedule of Joint Ventures (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 2,166.9	$ 1,947.6
Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	1,140.1	981.6
Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	416.1	391.4
Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	148.5	131
Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	243.8	235.2
Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	218.4	208.4
Western U.S.
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	1,340.3	1,172.9
Western U.S. | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	741	592.1
Western U.S. | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	79.8	81
Western U.S. | Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	148.5	131
Western U.S. | Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	183.8	189.2
Western U.S. | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	187.2	179.6
Ireland
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	549	533.7
Ireland | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	399.1	389.5
Ireland | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	145.7	141.1
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	4.2	3.1
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	277.6	241
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	190.6	169.3
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	55.8	42.9
United Kingdom | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 31.2	$ 28.8

Unconsolidated Investments - Ca

Unconsolidated Investments - Cash Distributions by Investment Type and Location (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule of Equity Method Investments [Line Items]
Operating	$ 18
Investing	7.2	$ 21.6
Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	8.9
Investing	2.3
Commercial
Schedule of Equity Method Investments [Line Items]
Operating	4.9
Investing	0
Funds
Schedule of Equity Method Investments [Line Items]
Operating	4.1
Investing	4.4
Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0.1
Investing	0.5
Western U.S.
Schedule of Equity Method Investments [Line Items]
Operating	13.6
Investing	6.7
Western U.S. | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	6.9
Investing	2.3
Western U.S. | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	2.6
Investing	0
Western U.S. | Funds
Schedule of Equity Method Investments [Line Items]
Operating	4.1
Investing	4.4
Western U.S. | Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing
Ireland
Schedule of Equity Method Investments [Line Items]
Operating	4.3
Investing	0
Ireland | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	2
Investing	0
Ireland | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	2.3
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	0.1
Investing	0.5
United Kingdom | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
United Kingdom | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	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	0.1
Investing	$ 0.5

Unconsolidated Investments - In

Unconsolidated Investments - Income From Unconsolidated Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Income from unconsolidated investments - operating performance	$ 21.6	$ 13.5
Income from unconsolidated investments - fair value	56.6	5.3
Income from unconsolidated investments - performance allocations	27.2	(0.4)
Total income from unconsolidated investments	$ 105.4	$ 18.4

Fair Value Measurements and t_3

Fair Value Measurements and the Fair Value Option - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	$ 2,012.5	$ 1,794.8
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	2,012.5	1,794.8
Total	2,031.9	1,803.3
Recurring | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	19.4	8.5
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	19.4	8.5
Recurring | Level 2 | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	19.4	8.5
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	2,012.5	1,794.8
Total	2,012.5	1,794.8
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	Mar. 31, 2022USD ($)investment	Dec. 31, 2021USD ($)
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value, option, number of investments | investment	51
Equity Method Investments
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair value option	$ 1,779	$ 1,568.5
Alternative investment	233.5	$ 226.3
Unfunded capital commitments	245.9
Equity Method Investments Closed-End Funds
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Unfunded capital commitments	$ 27.7

Fair Value Measurements and t_5

Fair Value Measurements and the Fair Value Option - Schedule of Changes in Level 3 Investments (Details) - Equity Method Investments - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 1,794.8	$ 1,136.5
Unrealized and realized gains	115.7	25.5
Unrealized and realized losses	(16.3)	(9.5)
Contributions	147.9	52.2
Distributions	(20.4)	(35.4)
Other	0.5	1.5
Ending Balance	2,012.5	1,157.8
Level 3 | Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Foreign Exchange	$ (9.7)	$ (13)

Fair Value Measurements and t_6

Fair Value Measurements and the Fair Value Option - Schedule of Significant Inputs (Details)	Mar. 31, 2022
Capitalization Rates | Multifamily | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0500
Capitalization Rates | Multifamily | Minimum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0320
Capitalization Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0700
Capitalization Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0490
Capitalization Rates | Office | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0520
Capitalization Rates | Office | Minimum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0390
Capitalization Rates | Office | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0780
Capitalization Rates | Office | Maximum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0790
Capitalization Rates | Industrial | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0480
Capitalization Rates | Industrial | Minimum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0310
Capitalization Rates | Industrial | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0630
Capitalization Rates | Industrial | Maximum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0610
Capitalization Rates | Retail | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0650
Capitalization Rates | Hotel | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0600
Discount Rates | Multifamily | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0730
Discount Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0930
Discount Rates | Office | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0680
Discount Rates | Office | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0900
Discount Rates | Industrial | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0600
Discount Rates | Industrial | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0750
Discount Rates | Retail | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0830
Discount Rates | Hotel | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0830
Measurement Input, Credit Spread | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0025
Measurement Input, Credit Spread | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement inputs	0.0490

Fair Value Measurements and t_7

Fair Value Measurements and the Fair Value Option - Derivatives Financial Instruments (Details) € in Millions, £ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022EUR (€)	Mar. 31, 2022USD ($)	Mar. 31, 2022GBP (£)	Dec. 31, 2021USD ($)
Derivative [Line Items]
Interest Expense	$ 50.5	$ 51.6
Foreign Currency Translation
Derivative [Line Items]
Deferred taxes on unrealized losses (gains), arising during the period	0.5
Unrealized (losses) gains, arising during the period	(28.5)
Foreign Currency Translation | Euro
Derivative [Line Items]
Percentage of asset carrying values hedged (as percent)			90.00%	90.00%	90.00%
Foreign Currency Translation | Gibraltar, Pounds
Derivative [Line Items]
Percentage of asset carrying values hedged (as percent)			88.00%	88.00%	88.00%
Currency Derivative Contracts | Foreign Currency Derivative Contracts
Derivative [Line Items]
Deferred taxes on unrealized losses (gains), arising during the period	(2.9)
Unrealized (losses) gains, arising during the period	11.2
Designated as Hedging Instrument
Derivative [Line Items]
Hedge Asset				$ 26.7		$ 24.5
Designated as Hedging Instrument | Currency Derivative Contracts | Level 2
Derivative [Line Items]
Hedge Asset				26.7
Hedge Liability				7.4
OCI Gains (Losses)	11.2
Income Statement Gains	2.1
Cash Paid	5.8
Designated as Hedging Instrument | Currency Derivative Contracts | Level 2 | Interest Expense
Derivative [Line Items]
Interest Expense	2.1
Designated as Hedging Instrument | Derivatives Outstanding | Level 2
Derivative [Line Items]
Hedge Asset				26.7
Hedge Liability				7.4
OCI Gains (Losses)	8.5
Income Statement Gains	2.1
Cash Paid	0
Designated as Hedging Instrument | Derivatives Outstanding | Level 2 | Interest Expense
Derivative [Line Items]
Interest Expense	2
Designated as Hedging Instrument | Foreign Exchange Contract, One
Derivative [Line Items]
Notional | €			€ 262.5
Designated as Hedging Instrument | Foreign Exchange Contract, One | Level 2
Derivative [Line Items]
Hedge Asset				10.9
Hedge Liability				4
OCI Gains (Losses)	0.1
Income Statement Gains	2.1
Cash Paid	0
Designated as Hedging Instrument | Foreign Exchange Contract, One | Level 2 | Interest Expense
Derivative [Line Items]
Interest Expense	1
Designated as Hedging Instrument | Foreign Exchange Contract, Two | KWE
Derivative [Line Items]
Notional | €			40
Designated as Hedging Instrument | Foreign Exchange Contract, Two | Level 2 | KWE
Derivative [Line Items]
Hedge Asset				0
Hedge Liability				0
OCI Gains (Losses)	0
Income Statement Gains	0
Cash Paid	0
Designated as Hedging Instrument | Foreign Exchange Contract, Two | Level 2 | KWE | Interest Expense
Derivative [Line Items]
Interest Expense	0
Designated as Hedging Instrument | Foreign Exchange Contract, Three | KWE
Derivative [Line Items]
Notional | €			€ 550
Designated as Hedging Instrument | Foreign Exchange Contract, Three | Level 2 | KWE
Derivative [Line Items]
Hedge Asset				0
Hedge Liability				0
OCI Gains (Losses)	(1.3)
Income Statement Gains	0
Cash Paid	0
Designated as Hedging Instrument | Foreign Exchange Contract, Three | Level 2 | KWE | Interest Expense
Derivative [Line Items]
Interest Expense	0
Designated as Hedging Instrument | Foreign Exchange Contract, Four
Derivative [Line Items]
Notional | £					£ 535
Designated as Hedging Instrument | Foreign Exchange Contract, Four | Level 2
Derivative [Line Items]
Hedge Asset				15.8
Hedge Liability				3.4
OCI Gains (Losses)	9.7
Income Statement Gains	0
Cash Paid	0
Designated as Hedging Instrument | Foreign Exchange Contract, Four | Level 2 | Interest Expense
Derivative [Line Items]
Interest Expense	1
Designated as Hedging Instrument | Derivative Settled | Level 2
Derivative [Line Items]
Hedge Asset				0
Hedge Liability				0
OCI Gains (Losses)	2.7
Income Statement Gains	0
Cash Paid	5.8
Designated as Hedging Instrument | Derivative Settled | Level 2 | Interest Expense
Derivative [Line Items]
Interest Expense	0.1
Designated as Hedging Instrument | Foreign Exchange Contract, Five
Derivative [Line Items]
Notional | £					£ 100
Designated as Hedging Instrument | Foreign Exchange Contract, Five | Level 2
Derivative [Line Items]
Hedge Asset				0
Hedge Liability				$ 0
OCI Gains (Losses)	2.7
Income Statement Gains	0
Cash Paid	5.8
Designated as Hedging Instrument | Foreign Exchange Contract, Five | Level 2 | Interest Expense
Derivative [Line Items]
Interest Expense	$ 0.1

Fair Value Measurements and t_8

Fair Value Measurements and the Fair Value Option - Interest Rate Swaps and Fair Value of Financial Instruments, Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Expense	$ 50.5	$ 51.6
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	5,400		$ 5,400
Level 2 | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt fair value	5,400		$ 5,500
Interest Rate Swaps | Foreign Currency Derivative Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized (losses) gains, arising during the period	4
Interest Rate Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain on interest rate swap	6.4
Interest Rate Cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain on interest rate swap	$ 6.3

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Other Assets [Abstract]
Straight line rent receivable	$ 41.6	$ 44.3
Goodwill	23.9	23.9
Deferred taxes, net	10.3	12.6
Other	15.6	13
Prepaid expenses	12.6	13.3
Right of use asset, net	9.4	10
Leasing commissions, net of accumulated amortization of $10.1 and $9.7 at March 31, 2022 and December 31, 2021, respectively	7.9	8
Other Assets	188.8	177.9
Accumulated amortization, leasing commissions	10.1	9.7
Interest Rate Contract
Other Assets [Abstract]
Hedge assets	17.3	2.3
Above Market Leases
Other Assets [Abstract]
Above-market leases, net of accumulated amortization of $58.9 and $60.4 at March 31, 2022 and December 31, 2021, respectively	7.1	8.4
Accumulated amortization, above-market leases	58.9	60.4
Furniture and Equipment
Other Assets [Abstract]
Furniture and equipment net of accumulated depreciation of $27.4 and $27.4 at March 31, 2022 and December 31, 2021, respectively	16.4	17.6
Accumulated amortization, office furniture and equipment	27.4	27.4
Designated as Hedging Instrument
Other Assets [Abstract]
Hedge assets	$ 26.7	$ 24.5

Other Assets - Additional Infor

Other Assets - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022lease
Minimum
Real Estate [Line Items]
Operating lease, weighted average remaining lease term (in years)	2 years
Maximum
Real Estate [Line Items]
Operating lease, weighted average remaining lease term (in years)	236 years
Loan and other
Real Estate [Line Items]
Lessee, operating lease, number of contracts	3
Land
Real Estate [Line Items]
Lessee, operating lease, number of contracts	3

Other Assets - Schedule of Futu

Other Assets - Schedule of Future Minimum Rental Payments (Details) $ in Millions	Mar. 31, 2022USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
2022 (remainder)	$ 1.1
2023	0.8
2024	0.5
2025	0.3
2026	0.2
Thereafter	31
Total undiscounted rental payments	33.9
Less imputed interest	(24.5)
Total lease liabilities	$ 9.4

Mortgage Debt - Schedule of Mor

Mortgage Debt - Schedule of Mortgage Debt (Details) - Mortgage debt - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	$ 3,047.4	$ 2,977.6
Unamortized loan fees	(18.3)	(17.8)
Total debt	3,029.1	2,959.8
Unamortized discount (premium)	(2.3)	(2.5)
Mortgage Loans Secured by Multi-Family Properties | Western U.S.
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	1,495.5	1,493.1
Mortgage Loans Secured by Commercial | Western U.S.
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	350.5	351
Mortgage Loans Secured by Commercial | United Kingdom
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	760.1	683.8
Mortgage Loans Secured by Commercial | Ireland
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	322.2	327.3
Mortgage Loans Secured by Commercial | Spain
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	39.3	40.4
Mortgage Loans Secured by Hotel | Ireland
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	$ 79.8	$ 82

Mortgage Debt - Mortgage Debt,

Mortgage Debt - Mortgage Debt, Additional Information (Details)	3 Months Ended
	Mar. 31, 2022investmentproperty	Dec. 31, 2021
Debt Instrument [Line Items]
Number of property acquisitions | property	1
Number of existing investments refinanced | investment	1
Mortgage debt
Debt Instrument [Line Items]
Weighted-average interest rate of investment debt	3.19%	3.11%
Percent of property level debt with fixed rate	64.00%	78.00%
Percent of property level debt with floating rate and interest caps	33.00%	13.00%
Percent of property level debt with floating rate, without interest caps	3.00%	9.00%
Weighted average cap strike price	1.68%

Mortgage Debt - Schedule of Mat

Mortgage Debt - Schedule of Maturities (Details) - Mortgage debt - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2022 (remainder)	$ 16
2023	365.6
2024	508.5
2025	477
2026	474.3
Thereafter	1,203.7
Long-term debt, gross	3,045.1
Unamortized debt premium	2.3
Unamortized loan fees	(18.3)	$ (17.8)
Total debt	$ 3,029.1	$ 2,959.8

KW Unsecured Debt - Schedule of

KW Unsecured Debt - Schedule of Unsecured Debt (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
KW unsecured debt
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 1,803.8	$ 1,878.9
Unamortized loan fees	(25.7)	(26.6)
Total debt	1,778.1	1,852.3
Unamortized discount (premium)	(3.8)	(3.9)
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt (excluding loan fees)	0	75
2029 Notes | Revolving Credit Facility
Debt Instrument [Line Items]
Debt (excluding loan fees)	601.9	601.9
2030 Notes | Revolving Credit Facility
Debt Instrument [Line Items]
Debt (excluding loan fees)	600	600
2031 Notes | Revolving Credit Facility
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 601.9	$ 602

KW Unsecured Debt - Borrowings

KW Unsecured Debt - Borrowings Under Credit Facilities (Details) - A&R Facility - Line of Credit - Revolving Credit Facility - USD ($)	Mar. 25, 2020	Mar. 31, 2022
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 (in months)	12 months
Covenant, percent of new equity offerings	50.00%
Maximum secured recourse leverage multiplier	1.5
Remaining borrowing capacity		$ 500,000,000
Average outstanding amount		$ 153,100,000
Minimum
Line of Credit Facility [Line Items]
Fixed charge coverage ratio	1.70
Tangible net worth	$ 1,700,000,000
Liquidity	$ 75,000,000
Maximum
Line of Credit Facility [Line Items]
Secured recourse leverage ratio	3.50%
Liquidity	$ 299,000,000
Adjusted secured leverage ratio	55.00%

KW Unsecured Debt - Senior Note

KW Unsecured Debt - Senior Notes (Details) - Senior Notes	Feb. 11, 2021USD ($)	Mar. 31, 2022	Aug. 23, 2021USD ($)	Mar. 15, 2021USD ($)
Maximum
Debt Instrument [Line Items]
Balance sheet leverage ratio		1.50
Balance sheet leverage at period end		0.97
4.75% Senior Notes Due 2029 and 5% Senior Notes Due 2031
Debt Instrument [Line Items]
Redemption price (as a percent)	100.00%
Redemption amount (as a percent)	40.00%
4.75% Senior Notes Due 2029 and 5% Senior Notes Due 2031 | Maximum
Debt Instrument [Line Items]
Redemption price (as a percent)	101.00%
2029 Notes
Debt Instrument [Line Items]
Debt face value	$ 500,000,000			$ 100,000,000
Interest rate (as a percent)	4.75%
2031 Notes
Debt Instrument [Line Items]
Debt face value	$ 500,000,000			$ 100,000,000
Interest rate (as a percent)	5.00%
2030 Notes
Debt Instrument [Line Items]
Debt face value			$ 600,000,000
Interest rate (as a percent)			4.75%

KWE Unsecured Bonds - Schedule

KWE Unsecured Bonds - Schedule of KWE Unsecured Bonds (Details) - KWE unsecured bonds - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 606.4	$ 622.8
KWE
Debt Instrument [Line Items]
Unamortized loan fees	(1.2)	(1.3)
Total debt	606.4	622.8
Unamortized discount (premium)	1.9	2.1
KWE | KWE Euro Medium Term Note Programme
Debt Instrument [Line Items]
Mortgage debt (excluding loan fees)	$ 607.6	$ 624.1

KWE Unsecured Bonds - Additiona

KWE Unsecured Bonds - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2022EUR (€)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Unrealized foreign currency translation gain	$ 28		$ 23.8
KWE
Debt Instrument [Line Items]
Unrealized foreign currency translation gain	$ 1.3
KWE | KWE unsecured bonds
Debt Instrument [Line Items]
Maximum percentage of total assets	60.00%
Maximum ratio of consolidated secured indebtedness to total assets	50.00%
Interest coverage ratio	1.50
Maximum ratio of unencumbered assets to unsecured indebtedness	125.00%
KWE | KWE unsecured bonds | KWE Euro Medium Term Note Programme
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 609.5	€ 550,000,000
Mortgage debt (excluding loan fees)	$ 607.6			$ 624.1
Annual fixed coupon rate	3.25%

Equity - Preferred Stock (Detai

Equity - Preferred Stock (Details) $ / shares in Units, shares in Millions, $ in Millions	Mar. 08, 2022USD ($)$ / sharesshares
Subsidiary, Sale of Stock [Line Items]
Number of warrants called in transaction (in shares) | shares	13
Exercise price of warrants (in USD per share) | $ / shares	$ 23
Warrant term (in years)	7 years
Private Placement
Subsidiary, Sale of Stock [Line Items]
Preferred stock, dividend rate, percentage	4.75%
Private Placement | Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Sale of stock, consideration received on transaction | $	$ 300

Equity - Dividend Distributions

Equity - Dividend Distributions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Declared
Preferred Stock	$ 5.3	$ 4.3
Common stock	32.8	31
Paid
Preferred Stock	4.3	4.3
Common stock	$ 36.1	$ 32.6

Equity - Share-Based Compensati

Equity - Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 7.1	$ 7.7
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 7.1	$ 7.7

Equity - Common Stock Repurchas

Equity - Common Stock Repurchase Program (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Nov. 04, 2020	Nov. 03, 2020
Equity, Class of Treasury Stock [Line Items]
Authorized amount of stock to repurchase			$ 500,000,000	$ 250,000,000
Stock repurchased during period, value	$ 12,500,000	$ 200,000
Restricted Stock
Equity, Class of Treasury Stock [Line Items]
Shares retired due to RSG vesting (in shares)	796,755	658,293
Payments related to tax withholding for share-based compensation	$ (18,600,000)	$ (14,100,000)
Common Stock
Equity, Class of Treasury Stock [Line Items]
Shares retired due to common stock repurchase program (in shares)	589,317	10,281
Stock repurchased during period, value		$ 200,000

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	$ 1,803.9
Balance end of period	2,063.2
Accumulated other comprehensive loss	(405.6)	$ (389.6)
Total Accumulated Other Comprehensive Income Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(31.2)
Unrealized (losses) gains, arising during the period	(13.3)
Noncontrolling interests	0.7
Deferred taxes on unrealized losses (gains), arising during the period	(3.4)
Balance end of period	(47.2)
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(88.2)
Unrealized (losses) gains, arising during the period	(28.5)
Noncontrolling interests	0.7
Deferred taxes on unrealized losses (gains), arising during the period	0.5
Balance end of period	(115.5)
Foreign Currency Derivative Contracts | Currency Derivative Contracts
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	58.6
Unrealized (losses) gains, arising during the period	11.2
Noncontrolling interests	0
Deferred taxes on unrealized losses (gains), arising during the period	(2.9)
Balance end of period	66.9
Foreign Currency Derivative Contracts | Interest Rate Swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance beginning of period	(1.6)
Unrealized (losses) gains, arising during the period	4
Noncontrolling interests	0
Deferred taxes on unrealized losses (gains), arising during the period	(1)
Balance end of period	1.4
Interest Rate Swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated other comprehensive loss	$ 358.4

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 34.8	$ (5.6)
Weighted average shares outstanding for basic (in shares)	136,815,290	138,772,819
(Loss) income per share (in dollars per share)	$ 0.25	$ (0.04)
Weighted average shares outstanding (in shares)	150,420,132	138,772,819
Loss (income) per share (in dollars per share)	$ 0.24	$ (0.04)
Potentially dilutive securities (in shares)	16,253,806	15,134,775

Segment Information (Details)

Segment Information (Details) $ in Millions		3 Months Ended
		Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment		2
Revenue
Total revenue		$ 124.7	$ 99.4
Principal co-investments		78.2	18.8
Performance allocations		27.2	(0.4)
Total income from unconsolidated investments		105.4	18.4
Gain on sale of real estate, net		1.9	73.5
Expenses
Share-based compensation		7.1	7.7
Performance allocation compensation		11.8	0
General and administrative		7.9	6.8
Depreciation and amortization		43.3	44.4
Total expenses		139.1	120.5
Non-operating income (expense)
Interest expense		(50.5)	(51.6)
Loss on early extinguishment of debt		0	(14.8)
Other loss		5.8	(3.3)
Benefit from (provision for) income taxes		(8.2)	(2.7)
Net income (loss)		40	(1.6)
Net loss attributable to the noncontrolling interests		0.1	0.3
Preferred dividends		(5.3)	(4.3)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		34.8	(5.6)
Segment Reporting Information, Assets [Abstract]
Total assets	[1]	8,067.8		$ 7,876.5
Corporate
Revenue
Total revenue		0.4	0.7
Principal co-investments		0	0
Performance allocations		0	0
Total income from unconsolidated investments		0	0
Gain on sale of real estate, net		0	0
Expenses
Share-based compensation		7.1	7.7
Performance allocation compensation		0	0
General and administrative		1.7	1.2
Depreciation and amortization		0	0
Total expenses		15.2	15.1
Non-operating income (expense)
Interest expense		21.5	19.5
Loss on early extinguishment of debt			(14.8)
Other loss		2.7	(1)
Benefit from (provision for) income taxes		(6.3)	1.2
Net income (loss)		(39.9)	(48.5)
Net loss attributable to the noncontrolling interests		0	0
Preferred dividends		(5.3)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(45.2)	(52.8)
Segment Reporting Information, Assets [Abstract]
Total assets		298.7		324.7
Rental
Revenue
Total revenue		104.2	88.9
Expenses
Cost of goods and services		35.7	33
Rental | Corporate
Revenue
Total revenue		0	0
Expenses
Cost of goods and services		0	0
Hotel
Revenue
Total revenue		6.5	0.8
Expenses
Cost of goods and services		4.3	1.6
Hotel | Corporate
Revenue
Total revenue		0	0
Expenses
Cost of goods and services		0	0
Investment management fees
Revenue
Total revenue		11.3	7.4
Investment management fees | Corporate
Revenue
Total revenue		0	0
Property services fees
Revenue
Total revenue		0.4	0.7
Property services fees | Corporate
Revenue
Total revenue		0.4	0.7
Loans and other
Revenue
Total revenue		2.3	1.6
Loans and other | Corporate
Revenue
Total revenue		0	0
Compensation and related
Expenses
Cost of goods and services		29	27
Compensation and related | Corporate
Expenses
Cost of goods and services		6.4	6.2
Consolidated | Operating Segments
Revenue
Total revenue		110.7	89.7
Principal co-investments		0	0
Performance allocations		0	0
Total income from unconsolidated investments		0	0
Gain on sale of real estate, net		1.9	73.5
Expenses
Share-based compensation		0	0
Performance allocation compensation		0	0
General and administrative		2.5	4.3
Depreciation and amortization		43.3	44.4
Total expenses		94	98.4
Non-operating income (expense)
Interest expense		(29)	(32.1)
Loss on early extinguishment of debt			0
Other loss		3.1	(2.3)
Benefit from (provision for) income taxes		(1.9)	(3.9)
Net income (loss)		(9.2)	26.5
Net loss attributable to the noncontrolling interests		0.1	0.3
Preferred dividends		0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		(9.1)	26.8
Segment Reporting Information, Assets [Abstract]
Total assets		5,458.7		5,473.9
Consolidated | Rental | Operating Segments
Revenue
Total revenue		104.2	88.9
Expenses
Cost of goods and services		35.7	33
Consolidated | Hotel | Operating Segments
Revenue
Total revenue		6.5	0.8
Expenses
Cost of goods and services		4.3	1.6
Consolidated | Investment management fees | Operating Segments
Revenue
Total revenue		0	0
Consolidated | Property services fees | Operating Segments
Revenue
Total revenue		0	0
Consolidated | Loans and other | Operating Segments
Revenue
Total revenue		0	0
Consolidated | Compensation and related | Operating Segments
Expenses
Cost of goods and services		8.2	15.1
Co-Investments | Operating Segments
Revenue
Total revenue		13.6	9
Principal co-investments		78.2	18.8
Performance allocations		27.2	(0.4)
Total income from unconsolidated investments		105.4	18.4
Gain on sale of real estate, net		0	0
Expenses
Share-based compensation		0	0
Performance allocation compensation		11.8	0
General and administrative		3.7	1.3
Depreciation and amortization		0	0
Total expenses		29.9	7
Non-operating income (expense)
Interest expense		0	0
Loss on early extinguishment of debt			0
Other loss		0	0
Benefit from (provision for) income taxes		0	0
Net income (loss)		89.1	20.4
Net loss attributable to the noncontrolling interests		0	0
Preferred dividends		0	0
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders		89.1	20.4
Segment Reporting Information, Assets [Abstract]
Total assets		2,310.4		$ 2,077.9
Co-Investments | Rental | Operating Segments
Revenue
Total revenue		0	0
Expenses
Cost of goods and services		0	0
Co-Investments | Hotel | Operating Segments
Revenue
Total revenue		0	0
Expenses
Cost of goods and services		0	0
Co-Investments | Investment management fees | Operating Segments
Revenue
Total revenue		11.3	7.4
Co-Investments | Property services fees | Operating Segments
Revenue
Total revenue		0	0
Co-Investments | Loans and other | Operating Segments
Revenue
Total revenue		2.3	1.6
Co-Investments | Compensation and related | Operating Segments
Expenses
Cost of goods and services		$ 14.4	$ 5.7
Minimum
Segment Reporting Information [Line Items]
Average ownership interest in investments		5.00%
Maximum
Segment Reporting Information [Line Items]
Average ownership interest in investments		50.00%
[1]	The assets and liabilities as of March 31, 2022 include $184.5 million (including cash held by consolidated investments of $11.6 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $148.6 million) and $107.6 million (including mortgage debt of $101.4 million), respectively, from consolidated variable interest entities ("VIEs"). 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 mortgage debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Contingency [Line Items]
Income before income taxes	$ 48.2	$ 1.1
Provision for income taxes	(8.2)	$ (2.7)
KWE
Income Tax Contingency [Line Items]
Foreign partnership investment basis difference	72.2		$ 71.7
Valuation allowance	$ 72.2		$ 71.5

Guarantor and Non-Guarantor F_3

Guarantor and Non-Guarantor Financial Statements - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents		$ 462.1	$ 524.8
Accounts receivable		39.1	36.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		5,067.4	5,059.8
Unconsolidated investments		2,166.9	1,947.6
Investments in and advances to consolidated subsidiaries		0	0
Other assets		188.8	177.9
Loan purchases and originations		143.5	130.3
Total assets	[1]	8,067.8	7,876.5
Liabilities
Accounts payable		15.9	18.6
Accrued expenses and other liabilities		575.1	619.1
Total liabilities	[1]	6,004.6	6,072.6
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,037.5	1,777.6
Noncontrolling interests		25.7	26.3
Total equity		2,063.2	1,803.9	$ 1,646.3	$ 1,672.7
Total liabilities and equity		8,067.8	7,876.5
Mortgage debt
Liabilities
Long-term debt		3,029.1	2,959.8
KW unsecured debt
Liabilities
Long-term debt		1,778.1	1,852.3
KWE unsecured bonds
Liabilities
Long-term debt		606.4	622.8
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		0	0
Unconsolidated investments		0	0
Investments in and advances to consolidated subsidiaries		2,079.5	1,821.9
Other assets		0	0
Loan purchases and originations		0	0
Total assets		2,079.5	1,821.9
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		42	44.3
Total liabilities		42	44.3
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,037.5	1,777.6
Noncontrolling interests		0	0
Total equity		2,037.5	1,777.6
Total liabilities and equity		2,079.5	1,821.9
Reportable Legal Entities | Parent | Mortgage debt
Liabilities
Long-term debt		0	0
Reportable Legal Entities | Parent | KW unsecured debt
Liabilities
Long-term debt		0	0
Reportable Legal Entities | Parent | KWE unsecured bonds
Liabilities
Long-term debt		0
Reportable Legal Entities | Kennedy-Wilson, Inc.
Assets
Cash and cash equivalents		71.7	116.4
Accounts receivable		0	0
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		0	0
Unconsolidated investments		16.8	14.8
Investments in and advances to consolidated subsidiaries		4,000.6	3,859.2
Other assets		76	65.9
Loan purchases and originations		5.9	6.1
Total assets		4,171	4,062.4
Liabilities
Accounts payable		0.6	1
Accrued expenses and other liabilities		312.8	387.2
Total liabilities		2,091.5	2,240.5
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,079.5	1,821.9
Noncontrolling interests		0	0
Total equity		2,079.5	1,821.9
Total liabilities and equity		4,171	4,062.4
Reportable Legal Entities | Kennedy-Wilson, Inc. | Mortgage debt
Liabilities
Long-term debt		0	0
Reportable Legal Entities | Kennedy-Wilson, Inc. | KW unsecured debt
Liabilities
Long-term debt		1,778.1	1,852.3
Reportable Legal Entities | Kennedy-Wilson, Inc. | KWE unsecured bonds
Liabilities
Long-term debt		0	0
Reportable Legal Entities | Guarantor Subsidiaries
Assets
Cash and cash equivalents		69.9	69.1
Accounts receivable		18.6	16
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		1,722.9	1,729.1
Unconsolidated investments		634.3	618
Investments in and advances to consolidated subsidiaries		2,614.9	2,488.1
Other assets		48.1	51.6
Loan purchases and originations		74.9	61.5
Total assets		5,183.6	5,033.4
Liabilities
Accounts payable		2.2	4
Accrued expenses and other liabilities		85.8	78
Total liabilities		1,183	1,174.2
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		4,000.6	3,859.2
Noncontrolling interests		0	0
Total equity		4,000.6	3,859.2
Total liabilities and equity		5,183.6	5,033.4
Reportable Legal Entities | Guarantor Subsidiaries | Mortgage debt
Liabilities
Long-term debt		1,095	1,092.2
Reportable Legal Entities | Guarantor Subsidiaries | KW unsecured debt
Liabilities
Long-term debt		0	0
Reportable Legal Entities | Guarantor Subsidiaries | KWE unsecured bonds
Liabilities
Long-term debt		0	0
Reportable Legal Entities | Non-guarantor Subsidiaries
Assets
Cash and cash equivalents		320.5	339.3
Accounts receivable		20.5	20.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		3,344.5	3,330.7
Unconsolidated investments		1,515.8	1,314.8
Investments in and advances to consolidated subsidiaries		0	0
Other assets		64.7	60.4
Loan purchases and originations		62.7	62.7
Total assets		5,328.7	5,128
Liabilities
Accounts payable		13.1	13.6
Accrued expenses and other liabilities		134.5	109.6
Total liabilities		2,688.1	2,613.6
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,614.9	2,488.1
Noncontrolling interests		25.7	26.3
Total equity		2,640.6	2,514.4
Total liabilities and equity		5,328.7	5,128
Reportable Legal Entities | Non-guarantor Subsidiaries | Mortgage debt
Liabilities
Long-term debt		1,934.1	1,867.6
Reportable Legal Entities | Non-guarantor Subsidiaries | KW unsecured debt
Liabilities
Long-term debt		0	0
Reportable Legal Entities | Non-guarantor Subsidiaries | KWE unsecured bonds
Liabilities
Long-term debt		606.4	622.8
Elimination
Assets
Cash and cash equivalents		0	0
Accounts receivable		0	0
Real estate and acquired in place lease values, net of accumulated depreciation and amortization		0	0
Unconsolidated investments		0	0
Investments in and advances to consolidated subsidiaries		(8,695)	(8,169.2)
Other assets		0	0
Loan purchases and originations		0	0
Total assets		(8,695)	(8,169.2)
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		0	0
Total liabilities		0	0
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		(8,695)	(8,169.2)
Noncontrolling interests		0	0
Total equity		(8,695)	(8,169.2)
Total liabilities and equity		(8,695)	(8,169.2)
Elimination | Mortgage debt
Liabilities
Long-term debt		0	0
Elimination | KW unsecured debt
Liabilities
Long-term debt		0	0
Elimination | KWE unsecured bonds
Liabilities
Long-term debt		$ 0	$ 0
[1]	The assets and liabilities as of March 31, 2022 include $184.5 million (including cash held by consolidated investments of $11.6 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $148.6 million) and $107.6 million (including mortgage debt of $101.4 million), respectively, from consolidated variable interest entities ("VIEs"). 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 mortgage debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Guarantor and Non-Guarantor F_4

Guarantor and Non-Guarantor Financial Statements - Consolidating Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue
Total revenue	$ 124.7	$ 99.4
Expenses
General and administrative	7.9	6.8
Depreciation and amortization	43.3	44.4
Total expenses	139.1	120.5
Income (Loss) from Equity Method Investments	105.4	18.4
Income from consolidated subsidiaries	0	0
Non-operating income (expense)
Gain on sale of real estate, net	1.9	73.5
Interest expense	(50.5)	(51.6)
Loss on early extinguishment of debt	0	(14.8)
Other income (loss)	5.8	(3.3)
Income before provision for income taxes	48.2	1.1
Benefit from (provision for) income taxes	(8.2)	(2.7)
Net income (loss)	40	(1.6)
Net loss attributable to the noncontrolling interests	0.1	0.3
Preferred dividends	(5.3)	(4.3)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	34.8	(5.6)
Rental
Revenue
Total revenue	104.2	88.9
Expenses
Cost of goods and services	35.7	33
Hotel
Revenue
Total revenue	6.5	0.8
Expenses
Cost of goods and services	4.3	1.6
Investment management fees
Revenue
Total revenue	11.3	7.4
Compensation and related
Expenses
Cost of goods and services	29	27
Loan and other
Revenue
Total revenue	2.3	1.6
Reportable Legal Entities | Parent
Revenue
Total revenue	0	0
Expenses
Total expenses	7.1	8.5
Income (Loss) from Equity Method Investments	0	0
Income from consolidated subsidiaries	47.1	6.9
Non-operating income (expense)
Gain on sale of real estate, net	0	0
Interest expense	0	0
Loss on early extinguishment of debt		0
Other income (loss)	0	0
Income before provision for income taxes	40	(1.6)
Benefit from (provision for) income taxes	0	0
Net income (loss)	40	(1.6)
Net loss attributable to the noncontrolling interests	0	0
Preferred dividends	(5.3)	(4.3)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	34.7	(5.9)
Reportable Legal Entities | Kennedy-Wilson, Inc.
Revenue
Total revenue	0	0.1
Expenses
Total expenses	22.5	19.5
Income (Loss) from Equity Method Investments	2	2.9
Income from consolidated subsidiaries	92.8	57.2
Non-operating income (expense)
Gain on sale of real estate, net	0	0
Interest expense	(21.7)	(19.5)
Loss on early extinguishment of debt		(14.8)
Other income (loss)	2.8	(0.7)
Income before provision for income taxes	53.4	5.7
Benefit from (provision for) income taxes	(6.3)	1.2
Net income (loss)	47.1	6.9
Net loss attributable to the noncontrolling interests	0	0
Preferred dividends	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	47.1	6.9
Reportable Legal Entities | Guarantor Subsidiaries
Revenue
Total revenue	53.8	51.9
Expenses
Total expenses	52.8	46.8
Income (Loss) from Equity Method Investments	8.5	4.2
Income from consolidated subsidiaries	96	60.1
Non-operating income (expense)
Gain on sale of real estate, net	0	0
Interest expense	(9.7)	(11.5)
Loss on early extinguishment of debt		0
Other income (loss)	(0.3)	(0.3)
Income before provision for income taxes	95.5	57.6
Benefit from (provision for) income taxes	(2.7)	(0.4)
Net income (loss)	92.8	57.2
Net loss attributable to the noncontrolling interests	0	0
Preferred dividends	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	92.8	57.2
Reportable Legal Entities | Non-guarantor Subsidiaries
Revenue
Total revenue	70.9	47.4
Expenses
Total expenses	56.7	45.7
Income (Loss) from Equity Method Investments	94.9	11.3
Income from consolidated subsidiaries	0	0
Non-operating income (expense)
Gain on sale of real estate, net	1.9	73.5
Interest expense	(19.1)	(20.6)
Loss on early extinguishment of debt		0
Other income (loss)	3.3	(2.3)
Income before provision for income taxes	95.2	63.6
Benefit from (provision for) income taxes	0.8	(3.5)
Net income (loss)	96	60.1
Net loss attributable to the noncontrolling interests	0.1	0.3
Preferred dividends	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	96.1	60.4
Elimination
Revenue
Total revenue	0	0
Expenses
Total expenses	0	0
Income (Loss) from Equity Method Investments	0	0
Income from consolidated subsidiaries	(235.9)	(124.2)
Non-operating income (expense)
Gain on sale of real estate, net	0	0
Interest expense	0	0
Loss on early extinguishment of debt		0
Other income (loss)	0	0
Income before provision for income taxes	(235.9)	(124.2)
Benefit from (provision for) income taxes	0	0
Net income (loss)	(235.9)	(124.2)
Net loss attributable to the noncontrolling interests	0	0
Preferred dividends	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ (235.9)	$ (124.2)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	Apr. 22, 2022USD ($)	May 05, 2022USD ($)transactionproperty
Multifamily
Subsequent Event [Line Items]
Number of real estate properties acquired | property		3
Payments to acquire real estate		$ 418,000,000
Number of off-market transactions | transaction		3
Equity invested into property acquired		$ 255,000,000
Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Amount drawn	$ 250,000,000